Mumbai: The Securities and Exchange Board of India(Sebi) chief Tuhin Kanta Pandey on Thursday said the closing auction session (CAS) is ‘here to stay’, while acknowledging that liquidity could remain a concern in the initial stages of its implementation.

Speaking on the sidelines of the Global Fintech Fest (GFF), Pandey said several global jurisdictions, including the US, Japan and Hong Kong, had experienced lower liquidity when CAS was first introduced, with liquidity improving over time.

“CAS is here to stay…the only question is of liquidity. Many market participants have told us about the rollout in other jurisdictions including the US, Japan, Hong Kong, and they have told that initially everywhere when CAS was brought, the liquidity was always an issue and it builds over time,” Pandey said.

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“The issue is can we just keep on waiting or we can have some temporary solutions to the issue,” he added.

Pandey said Sebi would soon issue a consultation paper proposing changes to the CAS framework. The regulator introduced CAS on August 3, following which concerns were raised by market participants over the impact of the new mechanism on liquidity and settlement prices. However, the Sebi chairman said several market participants had also praised the implementation of CAS, particularly during events such as MSCI rebalancing.
“We have had several participants who have absolutely praised that implementation of CAS-that MSCI rebalancing and all have gone off very well. Technically the whole thing went off well,” he said.

“Now, there is a certain segment of the market that gets impacted because of the way we kept the settlement price as completely dependent,” Pandey said.

Neither LeydenJar nor Powall are trying to build an entire battery, and both have commercial relationships with customers in Asia.

But Christian Rood of LeydenJar says companies like his can fortify Europe’s position in what has become a global contest.

“The easy comparison is with semiconductors, where there’s really a race for the best chip technology.

“[Dutch tech giant] ASML is not producing chips; it focuses on a critical step in the production of chips, and in that way, has a seat at the table when it comes to the whole semiconductor battle.

“This is our ambition as well – to have a position where our battery anode is so unique that we have an important position in the supply chain.”

So, how do these ambitions play into Europe’s goals in the battery industry?

Alexander Brown is a senior analyst at the Berlin-based independent think-tank the Mercator Institute for China Studies (Merics).

“I think having one part of the supply chain based in Europe is great and if that can be a very advanced technological part, which offers the opportunity for high margins, that’s fantastic,” Brown tells me.

But he cautions that while “there can be collaboration as well as competition at the same time”, China in particular will continue to work to reduce its dependence on other regions.

“China is working very hard to develop local alternatives for technologies, including these niche technologies.

“It’s no secret that China would love to replace ASML – they’re working very hard to do that, and it’s not unforeseeable that they will achieve that goal eventually.

“So, I think Europe has traditional strengths in developing very exquisite high-quality products, which can find markets all over the world.

“But I also think it’s important for that not to be the only strategy [from the continent’s policy makers].”

The challenges of working in such a specialised field are not only technological.

LeydenJar has already reached commercial scale, but Rood says that raising funds within Europe is not always easy.

“There is sufficient financing in Europe, but the risk attitude is quite different than in Asia and in the US,” says Rood.

“That means for a company like us that you have to work with different sources of funding at the same time,” Rood explains.

He lists government grants, debt financing, help from the European Investment Bank and investors willing to buy a share of the business.

“They set a lot of challenging conditions, and they all want to do their own due diligence. It’s hard work,” Rood says.

Powall’s Colen says Europe, and the Netherlands in particular, is an “innovation powerhouse”, and battery technology offers a chance for the continent to make an impact, if the appetite for the risk is there.

“It’s a relatively young industry where factories are being built left, right and centre. They’re searching for the right tech. So that’s where you can play a big role, because the volumes are huge.”

Perhaps Europe’s place in that business lies not in building huge battery gigafactories, but at the other end of the scale altogether.

As Colen puts it, “small changes make big differences.”

CHICAGO — Mars, Inc. is launching various Cheez-It and Club crackers in resealable cannisters for the first time.

The company described the new packaging format as “designed to go anywhere” and “(ensuring) every cracker stays crunchy from the first bite to the last.”

One of the first varieties to be available in the new format is the all-new Cheez-It Grooves Minis sharp white cheddar crackers, miniature versions of the brand’s Grooves crackers featuring deep ridges and a sharp white cheddar flavor.

“Easy, on-the-go snacking is a top need for our fans,” said Nicole Sorensen, vice president of marketing for crackers at Mars Snacking. “By bringing these popular Cheez-It and Club crackers to this grab-and-go format, we’re giving people a simple way to enjoy their favorites anywhere, anytime.”

The new Grooves Minis will launch in resealable cans alongside Cheez-It original crackers and Club Minis original crackers at select US retailers later this month for a suggested retail price of $2.69.

Anthropic said Thursday it disrupted several attempts this year by researchers to use its AI models for biological research that could potentially aid the development of biological weapons, prompting the company to ban accounts and strengthen its safeguards.

In a 154-page report, “Detecting and Countering Misuse of AI,” the artificial intelligence (AI) company outlined five case studies involving researchers who used its Claude chatbot for advanced biological research with potential dual-use applications.

Following its investigation, the company said it banned the associated accounts, shared its findings with government authorities and other AI labs and strengthened its safety measures.

“We banned all associated accounts, worked with partners to take down the relay networks that evaded regional blocks and shared our findings with affected AI labs and government authorities,” Anthropic said.

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Anthropic emphasized it is not alleging the researchers intended to cause harm, noting that biological research can be used to develop vaccines and treatments but can also be misused.

“Biological capabilities are dual use: they can be used for beneficial or harmful purposes, and it is often difficult to distinguish between them,” the report states. 

“The same information that can be used to develop a biological weapon could also be used to develop, for example, a vaccine or a cure for a disease.”

One of the cases involved a researcher asking Claude to help draft a grant proposal for gain-of-function research on the mosquito-borne chikungunya virus.

Anthropic said the proposal involved modifying the virus to make it more transmissible and more dangerous. 

While such research can help scientists develop vaccines and treatments, the company said it could also be misused to make the virus more harmful.

The company said it blocked the request and later discovered the researchers were using a third-party platform to bypass regional restrictions and automatically route rejected prompts to another AI model.

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Other cases involved bird flu, orthopoxvirus research and research related to non-transmissible venoms and toxins, according to the report.

“Sophisticated threat actors are aware that we (and other AI providers) are attempting to detect dangerous uses of our models, and they use the dual-use nature of biology to maintain a kind of ‘plausible deniability’ about their research,” the company said.

Separately, the report detailed several Iran-linked cases in which actors allegedly used Claude to support influence campaigns, surveillance efforts and research on U.S. naval forces.

“We identified and disrupted an Iran-nexus threat actor that used Claude to collect and analyze publicly accessible data to develop targeting recommendations against US naval forces in the region,” the company said.

“We banned the actor’s account, developed detections to reduce the risk of future misuse, and shared threat intelligence with government authorities to disrupt the threat.”

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The report comes after a senior Anthropic safety researcher said Tuesday that AI has a greater than 10% chance of “kill[ing] all humans” within the next decade in response to a former employee who resigned after accusing the company of acting irresponsibly.

Former Anthropic and OpenAI researcher Jacob Coxon wrote in a lengthy resignation thread posted to X Sunday that “the people building AI earnestly believe that it could kill us all by the end of the decade.”

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“I resigned from Anthropic today. I spent the last three years doing pretraining research at both OpenAI and Anthropic. Neither company is acting responsibly. They are racing straight to self-improving superintelligence and gambling with our lives,” he wrote.

Anthropic could not immediately be reached by FOX Business for comment.

FOX Business’ Robert McGreevy contributed to this report.

MANILA, Philippines — Boxing legend and former senator Manny Pacquiao returned to government service Tuesday, taking his oath as secretary and lead convenor of the Philippines’ National Anti-Poverty Commission, a Cabinet-level post that places him at the center of the country’s poverty-reduction efforts.

President Ferdinand R. Marcos Jr. administered Pacquiao’s oath of office during a ceremony at Malacañang Palace on Sept. 8. Pacquiao succeeds Lope B. Santos III, who had served as NAPC secretary and lead convenor since January 2023. Cabinet Secretary Benhur Abalos was among those present at the ceremony.

The appointment carries real institutional weight. Under Republic Act No. 8425, the Social Reform and Poverty Alleviation Act, whoever serves as NAPC lead convenor automatically holds the rank of Cabinet secretary, formally placing Pacquiao within Marcos’ Cabinet. Marcos chairs the commission in his capacity as head of state, while Pacquiao now oversees day-to-day leadership of the commission’s secretariat.

The National Anti-Poverty Commission, established under the 1998 law, serves as the government’s coordinating and advisory body for implementing its Social Reform Agenda. The commission works to strengthen anti-poverty policy advocacy, coordinate poverty-reduction programs across national and local governments, and ensure that marginalized sectors have meaningful participation in government decision-making. Pacquiao’s appointment follows Executive Order No. 123, signed by Marcos, which transferred oversight of both the NAPC and the Presidential Commission for the Urban Poor from the Department of Social Welfare and Development back to the Office of the President.

Marcos expressed confidence in Pacquiao’s ability to lead the commission’s efforts, according to the Presidential Communications Office.

“Together, we will bring government programs closer to our communities and give more Filipinos a fair shot at a better life,” Marcos said in a social media post following the ceremony.

Malacañang cited Pacquiao’s own lived experience with poverty as among the reasons for his appointment, along with his history of assisting marginalized Filipino communities even outside of formal government roles. Pacquiao spoke directly to that personal history during his remarks following the oath-taking ceremony.

“Sa kahirapan, doon ako galing. Naranasan ko matulog sa karton sa kalsada, uminom lang ng tubig, walang makain at mag-ipon ng barya para lang makatulong sa pamilya,” Pacquiao said, which translates to: “I came from poverty. I experienced sleeping on cardboard on the streets, drinking only water, having nothing to eat and saving coins just to help my family.”

Pacquiao emphasized that he viewed the role as public service rather than a political opportunity, and said he had continued supporting poor communities and building free homes even during periods when he did not hold elected office.

“Hindi ito pulitika. Ito ay totoong serbisyo publiko upang siguruhin na ang bawat programa ng gobyerno ay direktang mararamdaman ng 14 basic sectors at ng pinakamahirap nating mga kababayan,” Pacquiao said, translating to: “This is not politics. This is genuine public service to ensure that every government program is directly felt by the 14 basic sectors and our poorest fellow Filipinos.”

The appointment has drawn attention from Christian leaders in the Philippines given Pacquiao’s own public testimony about his Christian faith in recent years. Bishop Noel Alba Pantoja, head of the Philippine Council of Evangelical Churches, welcomed the appointment as an opportunity for Pacquiao to serve Filipinos who are “poor, vulnerable, and in need of hope and opportunity.” Pantoja, who described Pacquiao as his “dear brother,” cited Colossians 3:23-24, which calls believers to work wholeheartedly “as working for the Lord,” and prayed that Pacquiao would receive “wisdom, strength, compassion, and integrity” in the new role. Pantoja also expressed hope that Pacquiao’s leadership would help bring communities together and develop lasting solutions to poverty.

Pantoja’s call for servant leadership echoed comments Pacquiao made earlier this year at the Arise Asia 2026 Congress in Manila, where he challenged roughly 4,000 Christian leaders and young people from more than 50 countries to make their faith visible through service and how they treat others. Pacquiao, who has spoken publicly about turning away from a past marked by drinking and gambling after what he has described as surrendering his life to Jesus Christ, urged believers at that event to read Scripture, pray and demonstrate their faith through concrete action.

Larry Gadon, who serves separately as Marcos’ presidential adviser for poverty alleviation, a distinct position from Pacquiao’s new role, welcomed the appointment in a statement.

“His appointment is very timely now that the administration is pushing for further reduction of poverty incidence and the NAPC with the right direction could help more to achieve the poverty reduction efforts,” Gadon said.

Pacquiao’s return to government marks a notable political turn given his history with Marcos. The two men were political rivals during the 2022 presidential election, when Pacquiao ran for the country’s highest office and lost to Marcos. Pacquiao previously served as a member of the House of Representatives representing Sarangani from 2010 to 2016, then as a senator from 2016 to 2022. He later made an unsuccessful bid to reclaim a Senate seat in last year’s midterm elections while running on a slate aligned with Marcos.

Widely regarded as one of the greatest professional boxers in history, Pacquiao remains the only fighter to have won world championships across eight different weight divisions during his boxing career.

With Pacquiao now formally leading the NAPC secretariat, his personal history of poverty and his publicly stated commitment to Christian service will face practical tests as the commission works to address food security, employment, education, housing and health concerns for the Philippines’ poorest citizens under the country’s Magna Carta of the Poor. For Pantoja and other Christian leaders who have welcomed the appointment, the role represents an opportunity for Pacquiao to translate his public statements of faith into tangible outcomes for millions of Filipinos still living below the poverty line, even as the practical challenges facing the commission remain substantial heading into his tenure.