Researchers report that Antarctic Intermediate Water, a layer of the Southern Ocean lying roughly 2,300 to 4,000 feet deep, has become saltier, denser and deeper since 2016, reversing decades of freshening. The study, published on 28 Oct 2026 in Nature Climate Change, attributes the shift to reduced freshwater from melting Antarctic sea ice, which had kept the layer fresh through summer melt from 1995 to 2015. The team, led by researchers including Bishakhdatta Gayen of the University of Melbourne, analyzed Argo float data, satellite records and atmospheric datasets covering 2004 to 2024. The layer carries heat, carbon, oxygen and nutrients northward into the Indian, Pacific and Atlantic oceans.
Jio Platforms shares closed about 27 per cent higher at 1,417.50 rupees on their first day of trading in Mumbai on 28 Oct, according to Bloomberg. The listing followed an initial public offering that raised 302 billion rupees, or about 3.2 billion dollars, the largest IPO in India's history. The issue was subscribed about 22 times, with qualified institutional buyers taking up their portion roughly 70 times over. The company's market value reached about 12.5 trillion rupees, making it India's second most valuable listed company after Reliance Industries, which owns more than 66 percent of Jio.
The US Federal Reserve kept its benchmark interest rate in a 3.75 to 4.00 per cent range on 28 October 2026, according to the Federal Open Market Committee. The decision was a 10 to 2 vote. Two members, Governor Lisa Cook and Cleveland Fed President Beth Hammack, wanted another quarter-point increase. The Fed had raised rates in September for the first time since 2023. Consumer prices rose 3.7 per cent from a year earlier in September, while core inflation rose 2.6 per cent. The decision came six days before the US midterm elections, where inflation is a key issue.