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PhysicsWallah lists at a 33% premium; valuation briefly tops $5.1 billion

PhysicsWallah's IPO marks the first Indian edtech listing since sector turbulence, debuting with a 33%–31% premium and robust institutional interest but muted retail demand. As the company sets a $5.1 billion intraday valuation, its success will depend on operational delivery and market confidence beyond the opening surge.
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New World Development’s Bond Exchange Sets Up US$1.3 Billion Debt Cut
New World Development launches a major debt exchange to reduce $1.3 billion in obligations amid Hong Kong's tough property market. The deal, targeting perpetual securities and senior notes, offers substantial haircuts and aims for immediate deleveraging and improved liquidity while extending new bond incentives.
Tyson’s Climate Claims Meet the Meat Grinder: Five-Year Pause After EWG Lawsuit
The Environmental Working Group sued Tyson Foods over misleading climate-friendly marketing, leading to a settlement where Tyson will halt 'net-zero by 2050' and similar claims on its beef for five years unless independently validated. The case highlights rising scrutiny of corporate climate promises, emphasizing evidence over ambitious marketing.
Manhattan Luxury Takes a Breather—But 2025 Is Still Barreling Toward No. 2
Manhattan's luxury real estate market saw a sharp weekly drop to 25 signed contracts at $4M+, yet 2025 remains on pace for its second-best year since 2006 with 1,326 deals so far. Notable sales include a $24M penthouse, as condos continue to dominate. A lull may be seasonal, not a trend.
L.A.’s Next Housing Shock: A Permanent 60‑Day Fast Track, Plus a Tighter Rent Cap
Los Angeles is advancing a permanent ordinance to fast-track all-affordable housing approvals, building on the success of Emergency Directive 1. Simultaneously, the City Council approved major rent control reforms, capping regulated rent hikes at 4%. Both measures aim to speed affordable housing delivery and protect tenants, but key details remain under debate.
U.S. construction spending edges up in August, but remains below year-ago levels
U.S. construction spending edged up 0.2% in August 2025 to $2.17 trillion, defying forecasts for a decline. Gains were concentrated in private residential projects, while nonresidential and public categories softened. Year-over-year, overall spending slipped 1.6%, reflecting sectoral imbalances and a cautious outlook. Data was delayed by a government shutdown.

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