Business & Markets — October 28, 2026

Jio rises 21% in market debut. Meta- and Google-backed Jio Platforms rose 21% in its market debut after raising $3.2 billion in India’s largest-ever IPO, becoming the country’s second-most valuable listed company.

TechCrunch · Read more ↗

UPS beats Q3 expectations. UPS topped third-quarter expectations as its deliberate pullback from Amazon deliveries paid off, signaling a strategic breakup between the shipper and its biggest customer.

Fast Company’s report highlighted a $92.6 billion figure tied to the quarter, framing the results as unwelcome news for Amazon, long the carrier’s largest customer. According to the outlet, the earnings beat suggests UPS’s decision to scale back its Amazon delivery volume is working as intended, reinforcing the view that the two companies are moving toward a lasting split in their shipping relationship.

Fast Company · Read more ↗

Consumer confidence rebounds in October. Americans’ confidence in the economy recovered somewhat in October as gas prices eased modestly. Prices overall remain elevated heading into the holiday season.

AP News · Read more ↗

Anthropic filing details lift AI stocks. Investors are digesting Anthropic’s IPO filing — a $131.7 billion cash pile, Amazon’s outsized stake, and a 93-page risk section — lifting AI stocks ahead of what could be history’s biggest IPO.

The S-1 itself was filed a day earlier; the current market reaction reflects investors working through its details. Beyond the headline figures, AP notes the offering could become the largest initial public offering on record, with notable numbers across valuation, cash reserves and revenue. The breadth of the 93-page risk disclosure and Amazon’s sizable stake are among the elements drawing scrutiny as AI-related shares move higher.

AP News · Read more ↗