BIZ BUZZ: IC poised to crack whip on erring insurance firms

It looks like it’s the Insurance Commission’s (IC) turn to weed out or sanction bad actors within its sphere of influence.

This development comes in the wake of an ever-widening investigation into the extent of corruption in flood control projects, which has revealed that even nonlife insurance companies are involved.

As Senate hearings have shown, only a handful of closely related entities are at the center of these irregularities, signaling a deeper issue that the IC must now address.
https://business.inquirer.net/550872/biz-buzz-ic-poised-to-crack-whip-on-erring-insurance-firms

Robinsons takes its turn to update malls

Flagship Robinsons malls are set to undergo a major facelift to keep pace with other developers who are pursuing renovations in response to rapidly evolving consumer needs.

Mybelle GoBio, president and CEO of Robinsons Land Corp. (RLC), confirmed to reporters last week that the company would soon announce its mall reinvention program.

First in line for these upgrades are the older Robinsons malls, which will receive significant enhancements to better serve shoppers and stay competitive in the market.
https://business.inquirer.net/550886/robinsons-takes-its-turn-to-update-malls

Chancellor faces calls to axe stamp duty on shares

Rachel Reeves is under mounting pressure to axe stamp duty on share trading in order to breathe new life into the UK stock market.

Concerns are growing that the number of firms leaving London for rival financial hubs, including New York, will increase unless urgent action is taken.

In response, the Chancellor is considering introducing a stamp duty break for investors buying newly listed shares, aiming to encourage more companies to list on the UK stock market.

However, there are increasing calls to scrap the 0.5 percent levy on share trading altogether.

Charles Hall, from Peel Hunt, argued that the tax should be abolished but acknowledged that Labour is unlikely to do so given the current state of the economy. He also pointed to AstraZeneca’s plans for a full listing in New York as a “proper warning shot” for the UK market.
https://www.thisismoney.co.uk/money/markets/article-15164389/Chancellor-faces-calls-axe-stamp-duty-shares.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Just one in three senior management roles held by women

Women hold just one in three senior management jobs in the UK, according to figures that highlight the ongoing lack of equality at the top levels of firms.

Research conducted by the Women in Work Summit and LinkedIn revealed that nine in ten male bosses are replaced by other men. In contrast, when a female leader steps down, the replacement is evenly split between men and women.

Journalist Mariella Frostrup, founder of Women in Work, emphasized the importance of gender equity, stating, “Gender equity is not just achievable—it’s transformative, across any sector.”

The report also recommends providing support for women who wish to take career breaks to care for children or relatives, addressing one of the key challenges they face in career progression.

Sue Duke, LinkedIn’s Director for Europe, commented on the situation: “Women are entering the workforce in equal numbers but remain blocked from advancing. CEO succession shows it starkly.”

Adding to these concerns, a report by MPs last year found that the battle against sexism in the City is progressing at a “snail’s pace,” amid shocking levels of sexual harassment.

These findings underscore the urgent need for continued efforts to promote gender equality and create inclusive workplaces where women can thrive in leadership roles.
https://www.thisismoney.co.uk/money/markets/article-15164369/Just-one-three-senior-management-roles-held-women.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

This precision components maker might raise ₹144cr in pre-IPO placement

**This Precision Components Maker Might Raise ₹144 Crore in Pre-IPO Placement**

*By Dwaipayan Roy | Oct 05, 2025 – 06:42 PM*

Precision components manufacturer **Aequs Ltd** is planning to raise up to ₹144 crore through a pre-IPO placement. This fundraising move comes ahead of the company’s filing of its red herring prospectus (RHP), as it prepares for its initial public offering (IPO).

### IPO Structure and Placement Details

The IPO will consist of a fresh issue of equity shares worth up to ₹720 crore, along with an offer-for-sale (OFS) of up to 3.17 crore shares with a face value of ₹10 each. The pre-IPO placement, however, is capped at 20% of the fresh issue amount.

Pricing for this placement will be determined in consultation with the book running lead managers (BRLMs) overseeing the IPO process.

### Existing Shareholders and Offer-for-Sale (OFS)

Aequs’s current institutional investors include Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments Ltd, Steadview Capital Mauritius Ltd, Catamaran Ekam, and Sparta Group LLC.

In the upcoming OFS, **Amicus Capital** plans to offload the largest number of shares, approximately 2.7 crore, across its three funds. Additionally, the Melligeri Private Family Foundation and individual investor Ravindra Mariwala will be selling 13.1 lakh and 12.7 lakh shares respectively.

### Use of Proceeds

The company intends to utilize the net proceeds from the fresh equity issue for multiple purposes, including repayment of debt, capital expenditure, inorganic growth through strategic acquisitions, and general corporate purposes.

### Financial Performance in FY25

Aequs faced challenges in the fiscal year 2025, reporting a net loss of ₹102.3 crore — a significant increase from the ₹14.2 crore loss recorded in the previous fiscal year. Additionally, the company’s revenue declined by 4.2% year-on-year to ₹924.6 crore.

### Outlook

Despite recent financial setbacks, the upcoming IPO and the pre-IPO placement are expected to provide Aequs with essential capital to reduce debt and fund expansion initiatives. These steps are aimed at improving the company’s growth trajectory and returning to profitability in the future.
https://www.newsbytesapp.com/news/business/aequs-to-raise-144cr-in-pre-ipo-placement/story

OPEC might increase oil production a bit this November

**OPEC May Slightly Boost Oil Production This November**

*By Dwaipayan Roy | October 5, 2025, 6:41 PM*

The Organization of the Petroleum Exporting Countries (OPEC) is reportedly close to finalizing a minor increase in oil production for November. According to delegates from key member countries, the group is likely to approve an output boost of approximately 137,000 barrels per day (bpd), maintaining the same increment as this month.

### Efforts to Regain Market Share

This decision comes as part of OPEC’s broader strategy to reclaim its share in the global oil markets. The group is gradually reintroducing halted production, adding back around 1.65 million bpd to the market after a larger tranche was recently restored. Despite this, oil prices have been hovering near a four-month low, underscoring the delicate balance OPEC and its allies must manage amid an oversupplied market.

### Market Overview: Prices and Supply Dynamics

Oil prices remain subdued as fresh supply enters a market still absorbing previous increases. There has been a noticeable build-up of unsold Middle Eastern cargoes, and futures market trends indicate near-term weakness ahead.

The International Energy Agency (IEA) has issued warnings about a looming record surplus, projecting that inventories will swell rapidly during the current quarter. These developments are driven by slowing global oil demand and expanding supply, particularly from producers in the Americas, with the IEA forecasting a historic surplus by 2026.

### Diverging Strategies within OPEC

Within OPEC, differing views are emerging regarding the pace and scale of production increases. The co-leaders, Saudi Arabia and Russia, have expressed contrasting perspectives.

Saudi Arabia, which has been most affected by previous production cuts now being reversed, is advocating for a more aggressive output increase to regain lost market share. Russia and other members, meanwhile, appear cautious about ramping up production too quickly, reflecting strategic differences within the group.

### Constraints on Spare Capacity

The recent series of production hikes has also spotlighted the limits of spare capacity within the OPEC alliance. Since May, eight key members have restored only about 60% of a planned 2.2 million bpd supply tranche.

This shortfall partly results from some countries offsetting prior periods of overproduction. More importantly, it suggests that certain members may already be operating near full capacity, limiting how much additional supply OPEC can effectively bring to the market in the near term.

OPEC’s upcoming decision on November’s production levels will be closely watched by market participants as the group navigates a complex landscape shaped by supply constraints, internal strategic differences, and evolving global demand dynamics.
https://www.newsbytesapp.com/news/business/opec-nearing-deal-for-minor-oil-production-increase-report/story

Why Vedanta is planning an investment of over ₹13,220cr

Vedanta Ltd, India’s leading aluminum producer, has announced a major expansion plan. This move aims to strengthen the company’s position in the aluminum industry and meet the growing demand for aluminum products in both domestic and international markets.

The expansion plan includes increasing production capacity, adopting advanced technologies, and enhancing operational efficiency. Vedanta Ltd is committed to sustainable growth and aims to contribute significantly to India’s economic development through this initiative.

https://www.newsbytesapp.com/news/business/vedanta-to-invest-13-226cr-in-aluminum-production-expansion/story

Apocalypse behind a paywall

When a society collapses, where do the billionaires go? In *Billionaires Bunker*, the new Spanish thriller series from *Money Heist* creators Alex Pina and Esther Martinez Lobato, the answer is: down. Deep underground into a luxury shelter built to preserve wealth, power, and the illusion of control in a world on fire.

But what happens when you seal off the rich and powerful together with their secrets, grudges, and paranoia? Netflix’s eight-part series attempts to find out.

Set in the opulent, high-tech confines of the Kimera Underground Park, the show introduces us to two billionaire families who take refuge there as the threat of nuclear war looms. From the first episode, *Billionaires Bunker* establishes a stylish yet tense atmosphere—part psychological thriller, part social commentary, and part mystery box. It is *Succession* meets *Lost*, with a dash of *Severance* in its tone and sense of isolation.

### A Timely and Potent Premise

The show’s central premise is both timely and potent: in an age of climate catastrophe, pandemics, and geopolitical instability, the notion of the ultra-wealthy buying their way out feels uncomfortably real. From doomsday preppers to tech moguls investing in bunkers, this isn’t just speculative fiction—it’s a dramatised distillate of fears rooted in reality.

*Billionaires Bunker* leverages anxiety and tension effectively, using an enclosed setting to explore themes of privilege, guilt, denial, and moral decay.

### Characters and Dynamics

The ensemble cast is led by Max, recently released from prison and reluctantly returning to his powerful family as they descend into the shelter. His outsider status offers viewers a grounded perspective on the moral rot of those around him.

Opposite him is Minerva, the enigmatic administrator of Kimera, whose icy professionalism and ambiguous motives give the show its cool, unsettling edge. The two families, each with their own skeletons, rivalries, and traumas, become the battleground for personal and philosophical clashes.

### Intrigue and Atmosphere

The series excels in its early episodes, establishing intrigue through cryptic rules, questionable leadership, and vague inconsistencies in the world outside. Viewers, like the characters, start asking: Is the threat real? Are they safer underground? Or is this a prison for the wealthy?

These questions make the first half of the show, driven by a strong sense of paranoia and claustrophobia, compelling.

Visually, *Billionaires Bunker* is sleek and effective. The production design of the bunker itself is stunning—clean lines, cold lighting, and a sense of curated perfection that slowly becomes oppressive. The contrast between the supposed comfort and mounting psychological tension is smartly used. Cinematographer Migue Amoedo, also of *Money Heist* fame, gives the series a polished, cinematic look that supports the suspense without becoming sterile.

### Flaws in Writing and Plot Development

The show’s biggest flaw emerges as it progresses: for all its atmosphere and thematic weight, the writing falters. Characters begin as archetypes—the guilt-ridden son, the ruthless matriarch, the manipulative administrator—but not all evolve beyond those roles. Dialogue, especially during emotional confrontations, sometimes slips into melodrama or cliché, undermining the complex moral terrain the show attempts to explore.

The mystery element, compelling at the beginning, becomes increasingly convoluted. Instead of deepening organically, twists are introduced rapidly and with uneven payoff. What begins as a taut, intelligent drama veers into more sensational territory in the latter half. Some plot developments feel more like narrative gimmicks than earned revelations.

### Strong Performances and Notable Characters

That said, performances are strong across the board. The cast, though mostly unfamiliar to international audiences, brings intensity and nuance to roles that sometimes lack depth on paper. Max’s internal conflict and Minerva’s controlled detachment are particularly watchable.

A few secondary characters, especially Asia—a teenage girl whose disillusionment mirrors the audience’s—bring fresh energy and perspective as the series unfolds.

### Themes and Philosophical Undercurrents

The show’s moral and philosophical undercurrents are its most compelling elements. *Billionaires Bunker* asks questions worth sitting with: What does safety mean when it is bought? Is survival ethical when it is exclusive? And at what point does the illusion of control become another trap?

These are rich themes, and while the show does not always answer them with subtlety, it raises them in ways that resonate long after the credits roll.

### A Study of Privilege, Psychology, and Social Issues

*Billionaires Bunker* dramatises how psychology and social issues intertwine when privilege collides with crisis. The series highlights the psychological defenses of the ultra-rich—denial, paranoia, and entitlement—as they retreat underground to preserve their survival while the rest of the world supposedly collapses.

Within the bunker, social issues like class inequality, exploitation, and mistrust become magnified, showing how wealth cannot shield people from power struggles, anxiety, and moral corruption. The illusion of safety exposes how privilege fosters a distorted reality, where billionaires cling to control through fear and manipulation.

From a psychological perspective, the confined space acts as a pressure cooker, revealing how group dynamics, ego, and survival instincts can fracture even the most luxurious of sanctuaries. This makes the show both a critique of social inequality and a study of human behavior under an imagined apocalypse.

### Final Verdict

*Billionaires Bunker* is a series that nearly matches its ambition. It is a bold attempt to blend psychological drama with social critique, packaged in a gripping, high-stakes thriller format.

It doesn’t always land cleanly—occasionally, the writing slips and the plot twists strain belief—but it remains a visually engaging, thematically provocative ride. While not as tight or emotionally precise as *Money Heist*, *Billionaires Bunker* is a worthy entry in the growing genre of dystopia for the rich.

It is best enjoyed not for airtight plotting, but for the questions it asks about wealth, survival, and the walls we build—literal and metaphorical—to keep the world at bay.
https://www.thenews.com.pk/tns/detail/1348573-apocalypse-behind-a-paywall

Shane Bieber’s wife Kara goes street style for Blue Jays vs Yankees showdown, pairing cargo pants with denim jacket

Having been acquired by the Toronto Blue Jays ahead of the trade deadline mid-season, starting pitcher Shane Bieber has settled in nicely with his new team.

Since joining the Blue Jays, Bieber has demonstrated his skill and adaptability, quickly becoming a key part of the pitching rotation. Fans and teammates alike have welcomed his presence, contributing to the team’s overall performance as the season progresses.
https://www.sportskeeda.com/baseball/news-shane-bieber-s-wife-kara-goes-street-style-blue-jays-vs-yankees-showdown-pairing-cargo-pants-denim-jackets

Chicago gov refuses to concede to ‘ultimatum’ as Trump prepares to send in 300 National Guard troops to city

Donald Trump will deploy 300 members of the National Guard in Illinois, state governor JB Pritzker said on Saturday.

“In the coming hours, the Trump Administration intends to federalize 300 members of the Illinois National Guard,” Pritzker said in a statement. He added: “They will pull hardworking Americans out of their regular jobs and away from their families all to participate in a manufactured performance, not a serious effort to protect public safety.”

“For Donald Trump, this has never been about safety. This is about control,” Pritzker continued.

The Illinois governor called the Trump administration’s actions “outrageous and un-American.” He claimed that his state had been given an ultimatum: “Call up your troops, or we will.” Pritzker said there was “no need for military troops on the ground” in Illinois.

He also added, “This demand follows unprecedented escalations of aggression against Illinois citizens and residents.”

“Yesterday, Kristi Noem’s and Greg Bovino’s masked agents threw chemical agents near an elementary school, arrested elected officials exercising their First Amendment rights, and raided a Wal-Mart. None of it was in pursuit of justice, but all of it was in pursuit of social media videos,” Pritzker said.

On Tuesday, Trump said that his administration would be “going into Chicago very soon.” The US president made the remarks while addressing military generals and admirals in Quantico, Virginia. Trump said then about Pritzker: “That’s a big city with an incompetent governor. Stupid governor.”

The US president has long implied that he could mobilize the National Guard in Illinois. In September, Trump posted a graphic of himself with the words “Chipocalypse Now,” wearing a cowboy hat with explosions and military helicopters behind him. The Truth Social post said: “I love the smell of deportations in the morning. Chicago about to find out why it’s called the Department of WAR.”

Trump also warned the “weak and pathetic Governor” Pritzker to “straighten it out FAST.”

Previously, the US president sent the National Guard into Democrat-led Los Angeles and Washington, DC. Louisiana’s Republican governor, Jeff Landry, has asked for up to 1,000 Louisiana National Guard troops to be activated in his state.

Earlier this week, Pritzker said that the Illinois National Guard “received word that the Department of Homeland Security has sent a memo to the Department of War seeking the deployment” of troops to Illinois. The mobilization, Pritzker said, is for the “protection of ICE personnel and facilities.”

“What I have been warning of is now being realized,” Pritzker said. “One thing is clear: none of what Trump is doing is making Illinois safer.”

The National Guard’s deployment is just one of the Trump administration’s recent actions in Chicago. The Department of Homeland Security announced on Wednesday that ICE and US Border Patrol officers arrested “more than 800 illegal aliens,” including the “worst of the worst,” as part of Operation “Midway Blitz” in Chicago.

The operation started on September 8 and is intended to “target the criminal illegal aliens who flocked to Chicago and Illinois because they knew Governor Pritzker and his sanctuary policies would protect them and allow them to roam free on American streets,” the DHS said in a press release.

On Friday, Office of Management and Budget director Russ Vought announced $2 [amount incomplete].

Pritzker’s announcement regarding the National Guard’s mobilization came on the same day officials reported that Border Patrol agents in Chicago shot a woman after officers were “rammed by ten cars.”

According to a statement released by the DHS, one of the drivers was a woman armed with a semi-automatic weapon, forcing officers to open fire. Their statement added that the woman in question was part of an internal threat bulletin circulated after allegedly doxxing and threatening law enforcement officials online.

DHS Assistant Secretary Tricia McLaughlin said: “Unfortunately, JB Pritzker’s Chicago Police Department is leaving the shooting scene and refuses to assist us in securing the area. There is a crowd growing and we are deploying special operations to control a growing crowd.”

Images captured at the scene showed a large presence of federal agents, who blocked a road using their vehicles as a crowd of protestors formed.

A spokesperson for the Chicago Police Department told Daily Mail: “The Chicago Police Department responded to the 3900 block of S. Kedzie Ave Saturday morning for a call of a person shot. CPD responded to the scene to document the incident. CPD officers were also on-scene to maintain safety and traffic control for all living and working in the area.”
https://www.dailymail.co.uk/news/article-15162619/chicago-governor-trump-national-guard-jb-pritzker.html?ns_mchannel=rss&ns_campaign=1490&ito=1490