Texas Ventures Acquisition III Corp to pay advisory fee to CEO during business combination process

Adobe has appointed Chakravarthy, an Indian-origin executive, as its new CEO, completing a succession process announced in March. Chakravarthy joined Adobe in 2020 and previously led Informatica. He succeeds Narayen, who led Adobe's shift to cloud-based subscriptions. Adobe is now focusing on AI transitions.

HSBC has appointed a former Northern Trust executive as the head of its securities services in Luxembourg. The executive previously held senior roles at several financial institutions, including FundBank, IKANO Advisory Management, Chase Manhattan Bank, and Price Waterhouse.

John Ternus became Apple's CEO on Sept. 1, 2026, succeeding Tim Cook, who grew Apple's market cap to over $4.6 trillion. Investors expect a focus on product and design under Ternus, though he lacks Cook's financial and supply chain expertise. Apple's share price rose 2.8% ahead of the transition.

On Tuesday, U.S. indices declined, with the S&P 500 and Nasdaq down 0.71% and 1.03% respectively. Deere (DE) hit a new 52-week high of $677.89, up 43% in a year, with Baird upgrading it to Outperform and raising the target to $800. The Chef's Warehouse (CHEF) also hit a new high, up 79% in a year, but faces valuation concerns. Builders Firstsource (BLDR) and Dave & Buster's (PLAY) hit new lows, down 54% and 65% respectively in a year.

FTSE Russell added 10 Nigerian companies, including Dangote Cement, MTN Nigeria, and Zenith Bank, to its FTSE Frontier Index, reclassifying Nigeria as a Frontier Market. The change takes effect on Sept. 21, aiming to boost global investor interest in Nigerian equities.

Upper Macungie Township approved Eli Lilly's final land development plan for a $3.5 billion pharmaceutical plant. The 797,432-square-foot facility will create 2,000 construction jobs and involve final assembly of injectable medicines. The project will be completed in phases, with the first phase including an amenities building and visitor center.