Market sources say Indonesia's nickel hub will cut output as an El Niño-driven drought reduces production.

Societe Generale said it will deploy AI and process automation to reduce costs and lift profitability over the next three years. The bank targets cutting the Global Banking and Investor Services cost-to-income ratio to below 60% by 2029 (current target 65%), while growing investment banking and trading revenue. It expects roughly 3% average annual revenue growth and aims to raise ROTE to 13–14% by 2029. Cost savings will come from lower IT and procurement spending and use of AI; any headcount reduction will be delivered through natural attrition, with no numerical guidance provided.

Russia is preparing to extend a diesel export ban beyond the end of September as Ukrainian attacks on its refineries continue, people familiar with the matter said. Moscow imposed the ban in July after strikes cut Russian refining throughput to a multi-year low; the measure, initially expected to last weeks, was extended monthly and to end-September, and officials are now considering another month-long or longer extension. Before the restrictions, Russian seaborne diesel supplied about 10% of the global market; removing that volume has compounded Middle East supply disruptions and pushed prices higher.