Essar-backed Mesabi Metallics announces $18 billion US steel investment; largest in American history

The Hindu Business Line - Sep 29, 2026

The investment will connect Mesabi Metallics’ iron ore mine and pelletising facility in Minnesota with the proposed Iowa steel complex; nearly $3 billion has already been invested in the Minnesota operation

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Anthropic's IPO prospectus shows sweeping AI vision, surging costs

Sep 29, 2026

Anthropic's IPO prospectus shows sweeping AI vision, surging costs

Anthropic is making a massive bet that AI will transform the global economy more profoundly than industrialization, electricity and the internet, according to its IPO prospectus seen by Reuters. But the cost to get there will be staggering. Anthropic reported a net loss of $42 billion in 2025, and plans to spend $518 billion on cloud, computing and infrastructure obligations in coming year, according to the prospectus. The prospectus details how the company has grown sharply in the last year — while also posting wider losses. Revenue grew 12-fold in 2025 to nearly $4.6 billion, even as the company lost more than $8 billion on an operating basis, excluding writedowns of various liabilities mostly tied to previous fundraising, according to the documents, reported here for the first time. The public sale, which could value it at more than $2 trillion, would capitalize on the rapid rise of the AI startup lab that only came into existence five years ago, and establish it as a benchmark for how Wall Street values AI's leading companies, including rival OpenAI. The plans come as Anthropic con

Ukraine's Zelenskyy says North Korea prepares to deploy another 10,000 troops to Russia

Sep 29, 2026

Ukraine's Zelenskyy says North Korea prepares to deploy another 10,000 troops to Russia

Ukrainian President Volodymyr Zelenskyy said on Monday there are more than 8,000 North Korean troops on Russian territory and preparations are underway to deploy another 10,000 troops. Citing "new data" on the deployment of North Korean troops to Russia, Zelenskyy said they were "being selected for training and subsequent deployment to Russia." The Ukrainian president said in August that up to 50,000 North Korean soldiers could be sent to fight for Russia, and called on South Korea to provide support for Ukraine's air defence. South Korea announced in July a $100 million aid package for Ukraine, although it excluded lethal weapons. Zelenskyy's comments on Monday came after Seoul and Kyiv were at odds over his announcement last week that Ukraine had transferred two captured North Korean soldiers to South Korea. Seoul expressed regret over his announcement, citing an agreement to keep the transfer confidential. South Korea also protested against what it called a false statement from the Ukrainian presidential office denying that such a confidentiality agreement existed. North Korea has sent

US, Iran separately talk with mediators in latest bid to end war

Sep 29, 2026

US, Iran separately talk with mediators in latest bid to end war

U.S. and Iranian officials spoke separately with mediators on Monday as part of a renewed effort to end seven months of war, according to officials of both countries. Any further talks are expected to focus on an amended version of a seven-day proposal that Iran presented last week on the sidelines of the United Nations General Assembly, an official briefed on the negotiations told Reuters. The war began in late February with U.S. and Israeli attacks on Iran, killing thousands of people over seven months and shocking global markets as vital waterways for oil remained choked. The U.S. and Iran have twice previously agreed to ceasefires in mediated peace talks, in April and June. Those agreements quickly unraveled. Iranian Foreign Minister Abbas Araqchi, who remained in New York after attending the General Assembly, said Iran expected to receive the U.S. response to its latest ceasefire proposals and its conditions for restoring passage of maritime traffic in the Strait of Hormuz, according to state news agency IRNA. "If the Americans claim they are seeking an agreement or a peaceful solut

Bangkok floodwaters begin to ease after torrential rains affect 700,000 people

Sep 29, 2026

Bangkok floodwaters begin to ease after torrential rains affect 700,000 people

BANGKOK — Floodwaters in Thailand ’s capital were slowly receding on Monday after nearly continuous rainfall over the weekend, although some neighborhoods and major roads remained inundated. Rain continued intermittently, but Bangkok city officials said conditions had improved enough to accelerate drainage efforts. Water levels in four main canals had risen too high over the weekend to take in runoff from surrounding communities. More rain was forecast across much of Thailand, although Bangkok was expected to receive less. Cambodia and Myanmar were also experiencing severe weather. The weekend flooding affected 329,000 households, or about 700,000 people, the Bangkok Flood Control Center reported, according to Deputy Gov. Tavida Kamolvej. Thai media reported two flood-related deaths in the city and at least 10 nationwide. Gov. Chadchart Sittipunt declared a flood emergency Saturday across all 50 city districts, although some were relatively unscathed. He said authorities were prioritizing assistance for vulnerable residents, including older people and those with disabilities, by deli

US ban on Canadian alcohol and dairy comes into effect as trade war drags on

Sep 29, 2026

US ban on Canadian alcohol and dairy comes into effect as trade war drags on

It is the latest escalation in the Canada-US trade war after negotiations collapsed in late August, with no word on when talks may resume.

New York Times executive fatally shot allegedly by elderly in-laws

Sep 29, 2026

New York Times executive fatally shot allegedly by elderly in-laws

Jonathan McKinsey's in-laws, who are both 77 years old, face multiple charges including first-degree murder.

Essar-backed Mesabi Metallics announces $18 billion US steel investment; largest in American history

Sep 29, 2026

Essar-backed Mesabi Metallics announces $18 billion US steel investment; largest in American history

The investment will connect Mesabi Metallics’ iron ore mine and pelletising facility in Minnesota with the proposed Iowa steel complex; nearly $3 billion has already been invested in the Minnesota operation

US-Iran war: Trump rejects report that US will offer Tehran ‘sanctions relief’; Araghchi meets mediators | Top Updates

Sep 29, 2026

US-Iran war: Trump rejects report that US will offer Tehran ‘sanctions relief’; Araghchi meets mediators | Top Updates

US President Donald Trump rejected reports that he was willing to offer Iran sanctions relief and release frozen funds in exchange for progress on its nuclear programme. Meanwhile, Iran said indirect talks with the US continued through Qatari mediators

Trump personally involved in taxpayer-funded ads ahead of midterms, source says

Sep 29, 2026

Trump personally involved in taxpayer-funded ads ahead of midterms, source says

Trump personally involved in taxpayer-funded ads ahead of midterms, source saysUS President Donald Trump personally helped shape taxpayer-funded advertisements promoting himself and his administration’s policies, a source familiar with the matter told CNN.Trump was involved in selecting...

Ukraine-Russia war latest: Zelensky claims North Korea is preparing to deploy 10,000 more troops to Russia

Sep 29, 2026

Ukraine-Russia war latest: Zelensky claims North Korea is preparing to deploy 10,000 more troops to Russia

Zelensky said the plan is ‘how evil encroaches’

‘Took turns shooting’: Trans NYT exec killed by in-laws amid anti-LGBTQ+ allegations

Sep 29, 2026

‘Took turns shooting’: Trans NYT exec killed by in-laws amid anti-LGBTQ+ allegations

Jonathan McKinsey was shot and killed by his elderly in-laws at a sports complex in California. Police arrested the suspects, Shouyong Zhang and Shili Chen, near the crime scene shortly after the incident. McKinsey's transgender identity allegedly contributed to a family conflict and legal disputes with his wife, Candice Jang. The couple was involved in divorce proceedings and allegations of domestic violence prior to McKinsey's death.

Argentina threatens legal action against UK over Falkland Islands oil exploration

Sep 29, 2026

Argentina threatens legal action against UK over Falkland Islands oil exploration

President Javier Milei set a two-week deadline for the Sea Lion oilfield project to be scrapped.

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