AGP Executive Report

Trade and Tariffs: A US trade court certified a broad class of importers seeking refunds for tariffs ruled invalid, potentially widening access to repayment. Malaysia and South Korea expect bilateral trade to top US$40 billion this year after concluding free-trade negotiations. Business Costs: More than two-thirds of surveyed New Zealand businesses are worried about energy costs, and nearly one-third have raised prices in response. Sanctions: The US imposed new measures on companies, individuals and vessels linked to Iranian oil and petrochemical trade, including targets in India, Türkiye and the UAE. Disruption Risks: Allianz says business-interruption insurance claims averaged about 70% more than related property-damage claims, as supply-chain delays, geopolitical tensions and technology dependence raise the cost of outages. Malaysia’s Retail Economy: Wholesale and retail sales rose 10.5% year on year to RM173 billion in August, led by a 16.5% jump in wholesale trade.

Work Visas: The Trump administration suspended Microsoft, Adobe and other tech firms from sponsoring foreign workers for permanent residency, alleging misuse of the program. The move adds uncertainty for employers relying on skilled international hires. AI and Jobs: HubSpot plans to cut nearly 700 jobs as AI competition pressures its business, while Amazon is subleasing much of its Boston office tower. Trade Outlook: The WTO raised its 2026 forecast for global merchandise trade growth to 3.9%, citing an AI-driven boom, even as EU-China talks face risks of a trade war. Energy Resilience: A New Zealand business survey found just 37% of firms expect to keep operating for more than three days after losing their main power or fuel source; upfront costs remain a major barrier to preparation. Small Business: Malaysia is bringing e-commerce platforms and local traders together to address concerns that below-market online prices are hurting SMEs and retailers.

Trade and Supply Chains: Escalating conflict around the Red Sea threatens a route carrying 10–12% of global trade, raising the risk of higher shipping costs and shortages. India and Oman also discussed trade, energy and maritime security, including the Strait of Hormuz. Business Growth: UK waste-management firm Axil has made the Financial Times’ list of the country’s fastest-growing companies, reporting annual growth of nearly 30% as it expands across the UK and Ireland. Technology: NTT Docomo Business will partner with Classiq to develop enterprise uses for quantum computing. Investment: Four Greek business leaders have committed €70 million to the planned Athens IPO of shipping group Capital Maritime Finance, backing a €250 million share offering. Economic Policy: Malaysia’s upcoming budget faces calls to turn the economic boost from Formula One’s return into broader gains; the race drew 261,000 spectators and generated an estimated RM1.3 billion in economic impact. Jobs and Deals: HubSpot plans to cut hundreds of jobs, while Uber Eats is set to acquire workplace food-service company ezCater for $2.3 billion.

Trade: The U.S. goods trade deficit widened to $105.6 billion in August as imports jumped, adding pressure as trade policy remains in focus. Tax and Regulation: India’s GST Council is expected to prioritize simpler compliance and lower administrative costs for businesses, rather than major rate changes. Corporate Governance: Malaysia is preparing a law to tighten oversight of government-owned companies, including stricter rules for investments, borrowing and board accountability. Small-Business Finance: Qatar’s Snoonu is offering QAR 5 million in interest-free growth capital to local merchants for expansion, equipment and staffing. Clean Energy: Malaysia’s Northern Solar secured a RM34 million contract to build a 9.5-megawatt solar plant, scheduled to begin operating in May 2027.

M&A in Healthcare: McKesson and private equity firm CD&R agreed to buy home infusion provider Option Care Health for $5.8B, valuing shares at $32.05, with Option Care set to go private after regulatory approval. Trade & Tariffs: The US trade deficit widened to $105.6B in August as imports jumped, while China hit back at Germany and France over calls for new EU trade tools, warning against protectionism and supply-chain “decoupling.” Business Costs & Ports: In Cebu, cargo handlers are seeking a 25% hike in port and handling fees, but local chambers want a phased rollout to avoid extra pressure on MSMEs and consumers. Policy for Responsible Business: Malaysia launched a Human Rights Due Diligence guide for companies, urging a risk-based approach across operations and supply chains. Cybersecurity: Police in Japan and South Korea reported major cyberattacks on businesses, with experts saying AI may be used in attacks even if links are hard to prove. Local Economy: Texas sales tax revenue rose 11.5% in September on stronger business spending.

US-India Trade Talks: India-US negotiations hit a “plateau” as a final deal remains elusive, with a new US law raising the risk of up to 100% tariffs tied to Russian oil purchases and other delays including a Section 301 probe. US Trade Data: The US trade deficit widened 13.7% in August to $105.6bn, the biggest since before “Liberation Day” tariffs, as imports—especially AI-related hardware—outpaced exports. Regional Trade & Logistics: Lebanon is trying to plug Tripoli into a Gulf-backed regional trade network via rail, port and logistics, but Gulf investment so far has focused more on Syria. Malaysia Business & Policy: Khazanah’s Dana Impak says it has mobilised RM2.6bn to back 130 companies and 4,200 talents, while Budget 2027 expectations point to higher transport spending and potential job wins. Small Business Support: A free financial education workshop (CEED to Success) is set for Oct. 21 at Caldwell CC&TI, aiming to help entrepreneurs access financing and resources. Aviation Industry: Business aviation groups are pushing for changes to Europe’s emissions trading scheme, arguing proposed rules are unfair. Tech & Deals: Valsoft is acquiring Firebrand Group (publishing software and services) to expand its vertical-market software ecosystem.

AI & Enterprise Software: ServiceNow rolled out AI Workflow Factory and Autonomous Engineer, aiming to help firms scale AI workflows faster and close “execution gaps,” with Indian partners already adopting the tools. Cybersecurity for SMEs: Australia’s business groups told lawmakers small firms need practical help and capacity support to fight AI-assisted cyber threats, not more reporting rules. Trade & Geopolitics: France and Germany pushed the EU for faster trade-defense tools aimed at market distortions, with China in focus. Cross-border Business Deals: India and Switzerland said they’re deepening economic ties via expanded trade, investment, infrastructure and supply-chain cooperation. Energy & Courts: The US Supreme Court is weighing whether oil companies can be sued over climate-related disaster costs. Local Business Support: Minnesota’s Rochester city and Destination Medical Center are funding programs to protect downtown businesses hit by the Link BRT project. Company Moves: Dabur India hired Baskar Subramanian as head of trade marketing, bringing 10+ years from Reckitt. Security & Safety: Vietnam police arrested suspects in a cat-theft ring allegedly stealing about 2,700 cats for meat.

US Supreme Court Climate Case: The court grilled Boulder, Colorado, over a lawsuit seeking damages from ExxonMobil and Suncor, with conservative justices warning it could open the door to many more local climate claims. Capital Markets & Crypto: OKX and the NYSE parent ICE filed to launch 24/7 tokenized trading of US stocks via SEC’s innovation exemption, using on-chain liquidity and self-custody wallets. Corporate Deals: Nippon Paint agreed to buy AkzoNobel’s Southeast Asia decorative paints business for $1.35bn, while Shionogi plans to buy US rare-disease drug firm IntraBio for $2bn. Energy & Industry: Yinson Production secured an Eni Ghana contract amendment to expand gas processing on FPSO John Agyekum Kufuor, extending the lease to 2036 and adding about $600m to backlog. Business Disruption in Malaysia: JPJ suspended services from MYEG Group agents MyEG and Zetrix AI after missed remittances of RM314m, with Zetrix saying it’s discussing a fix. Local Economy & Jobs: Pakistan prequalified nine bidders for GEPCO’s privatisation, and Impala Terminals will end Milford Haven commercial operations by end-December 2026.

AI & Cybersecurity: Meta reportedly let go co-founders and employees of acquired AI security startup Virtue AI after “differences in working styles,” while Huntress warns attackers are increasingly abusing legitimate remote monitoring tools to blend in with normal admin activity. Healthcare Ops Tech: Pro Kpo AI says it’s open for business with scheduling automation aimed at cutting admin costs for home care and long-term care providers. SME Risk Management: The One STP launched Cyrus Cybersmith, offering a human-AI hybrid GRC and cybersecurity platform with limited vCISO support for a small cohort. Trade & Diplomacy: Canada and India begin the fifth CEPA round in Ottawa, targeting a deal by end-2026, as both face tariff pressure from the US. Corporate Deals: AkzoNobel agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35b. Markets: Hong Kong stocks edged lower in thin trade as property and financials dragged; India’s Sensex and Nifty rebounded early on easing rate worries and crude moves. Business Environment: Singapore reports AI adoption rising to 23.5% of enterprises in 2025, with digital economy contribution to GDP climbing to 19.3%. Local Business: Wrexham arcade toilets issue sparks calls for councils to address root causes; Blenheim’s Business Trust and World Travellers launch a “Shop and Win” push to bring shoppers back.

UK Healthcare & Ethics: The Royal College of Nursing ended a commercial partnership with Israeli drugmaker Teva UK, citing military links and ethical concerns, after sustained campaigning. Telehealth & Privacy: U.S. regulators accuse some telehealth firms of deceptive practices, including mishandling patient health data and pushing hard-to-cancel subscriptions. Trade Tensions: Trump’s escalating trade war with Canada is expected to hit costs for businesses and consumers in key battleground states as tariffs and import bans expand. Energy & Shipping: Iraq’s Oil Tanker Company says it moved 2 million barrels of crude beyond the Strait of Hormuz for better pricing, while also seeking specialized tanker capacity. AI Safety: OpenAI’s safety lead David Robinson quit, warning the company’s culture is “broken” and that “trial and error” safety is no longer enough. Local Business Impact: Yakima’s fall harvest is boosting hotels, restaurants, and agritourism as brewers visit to evaluate hops. New Ventures: A Warrington connectivity firm, Hybrid Connectivity Solutions, launched to serve rail, data centres, oil and gas, and other critical infrastructure sectors.

Local Business Moves: Worcestershire’s Me..time Pilates is relocating after 16 years, shifting its seven-class Monday schedule to The Holt Fleet in Worcester from Nov. 2. Retail Closures: A list of Worcestershire businesses shutting in October includes GoodRoots (closing Oct. 31) and Top Barn Farm Shop and Farm Park (also due to close Oct. 31). New Products: Bullards is teaming up with Edmunds Cocktails to launch three recyclable-pouch cocktails for home drinking and gifting. UK Auto Trade Pressure: Britain’s carmakers face a “difficult trade-off” between China and EU markets as ministers weigh whether to add tariffs on Chinese vehicles amid looming trade measures. Enterprise Tech ROI: Industrial 5G is moving from trials to demands for measurable business returns, with connectivity choices tied to specific operational needs. Local Economy & Skills: Enterprise Oxfordshire says it backed 1,700+ businesses and entrepreneurs in 2025/26, creating 211 jobs and safeguarding 878. OpenAI Shake-up: OpenAI fired three safety researchers after an internal probe found mishandling of sensitive company information. Trade & Policy: Malaysia’s EY urges Budget 2027 reforms to reduce SST tax cascading while keeping compliance simple ahead of the Oct. 9 budget.

AI Chips & Valuation: AMD is trying to fund its AI chip push with its established CPU business, but investors still have to decide whether the accelerator bet will generate enough cash flow to justify the price. Labor Market Signals: ADP says private payroll growth is cooling, even as it argues AI is reshaping work rather than wiping out jobs at scale. Trade & Tariffs: Canada’s countertariffs on 629 U.S. goods are met with remission orders that may blunt how much Ottawa actually collects, while trade tensions keep raising costs for manufacturers. Sanctions & Payments: Russia’s A7 denies U.S. claims it helped Iran or terrorist-linked networks evade sanctions, insisting its platform serves legitimate trade. Business Growth & Local Deals: Airwallex plans to double Malaysia headcount as cross-border remittances rise; Enterprise Oxfordshire reports 1,700+ businesses supported and hundreds of jobs created or safeguarded. Small Business Spotlight: Orillia entrepreneurs launch a review-focused service to help local firms earn trust online. Sports Business Angle: The Red Wings deal involving Dylan Larkin shows how teams are increasingly willing to move assets early, even amid fan backlash. Community & Events: A major golf tournament is expected to draw 30,000 visitors and boost hotels and restaurants in the Lehigh Valley.

G20 Trade Talks: India and Canada will resume trade negotiations Oct. 5, aiming to wrap a deal by year-end and push toward a $70B target by 2030, as ministers meet in Wisconsin amid wider trade tensions. EU–China Friction: China launched an anti-dumping probe into EU chemical imports just before EU trade chief talks in Beijing, raising the risk of tit-for-tat escalation. Asia Growth Watch: Vietnam’s economy accelerated in Q3, with exports up 39.1% in September and trade returning to surplus, helped by foreign investment and factory output. Corporate Moves: SAP consolidated Irish entities and paid a €157m dividend, while Microsoft said LinkedIn boss Ryan Roslansky will leave at end-2026. Entertainment Merger: Paramount and Warner Bros Discovery are set to finalize their $110B deal under the Skydance corporate name. Local Business & Jobs: A UK council crackdown shut an illegal tobacco shop in Tonypandy, while a US accelerator program will celebrate graduations of small business owners in Savannah. Energy & Water Politics: Greens plan to call for immediate nationalisation of water firms, as Thames Water faces renewed pressure.

Trade & Sanctions: Japan expanded sanctions on Russia, adding 33 firms and nine people, including military-industrial players and shadow-fleet vessels, tightening payment and capital-transaction rules. Energy & Investment: MidOcean secured over US$4B in commitments for its 2026 LNG capital raise, aiming to build a scaled, diversified global platform. Policy & Business Climate: Indonesia’s cabinet reshuffle puts Bahlil Lahadalia in a new downstreaming/energy-transition coordinating role, with employers warning investors will watch for regulatory continuity. Corporate & Legal: Oregon and 41 states reached a $469M settlement with Sandoz over alleged prescription-drug price inflation conspiracies. Workplace Safety: Two UK construction firms were fined £145k after a worker died in a dumper-truck accident at a Co Antrim aqueduct. Local Economy: The North West Company reopened its renovated Iqaluit Northern store after “tens and tens of millions” in upgrades, boosting local staffing. Sports Business: Humboldt Broncos completed a junior hockey trade, acquiring Jack Martin plus Ryan Ulmer and Leo Seitz from Flin Flon.

Trade Talks Watch: USTR Jamieson Greer says the India-US deal is in “short strokes,” with sticking points mapped out but “nothing imminent,” after constructive talks with Piyush Goyal at the G20 in Milwaukee. G20 Overcapacity: Greer also says G20 ministers deadlocked on tackling excess industrial capacity and forced labor in supply chains, with the US warning current trade remedies are inadequate. Business Finance: Nigeria’s Bank of Industry launched the fully digital MyBOI lending portal to speed credit access and reduce friction for enterprises. Insurance & Risk: Malaysia’s general insurers want tax relief for business interruption coverage and SST review on essential protection, plus incentives to boost AI and digital adoption. Retail & Security: Harrogate will pilot a ShopSafe app reporting scheme with police and ShopSafe to help businesses report retail crime faster. Energy Security: Japan’s JERA created a company to manage national oil reserves as energy risk rises. Legal/Business Rights: A US judge ruled a rooftop near Wrigley Field can’t sell tickets to watch Cubs games without authorization. Crime Impact: A gunman and hammer-wielding robber targeted UK businesses in Bushey, leaving police searching for suspects.

AI & Marketing Shift: A new look at Scotland’s golf industry shows how AI answers can siphon off search traffic, forcing businesses to rethink how they win bookings and ad revenue. Sports Business Deal: The Steelers traded cornerback Joey Porter Jr. to the Cowboys for a 2027 sixth-round pick and a 2028 second-rounder, ending a months-long contract standoff. Meta’s Small-Business Push: Meta rolled out Muse for Small Business, letting the AI agent work across tools like Shopify, Stripe, QuickBooks, Asana and Canva, with human approval options and paid tiers. Trade Tensions (Canada–US): Canada’s trade minister met U.S. Trade Rep Jamieson Greer at the G20, raising the impact of U.S. import bans on Canadian workers and industries. Renewables Meets Farming: A Vermont solar-grazing couple scaled Agrivoltaic Solutions from 30 sheep to 500 sheep managing vegetation across 1,500 acres in the Northeast. Logistics Innovation: Trade Winds Freight launched as a multimodal operator combining ocean, air, trucking and drone capacity under one platform. Climate Litigation Tool: A study links “carbon majors” emissions to declines in Western snowpack and summer river flows, giving plaintiffs a sharper way to assign climate harm.