Tom Hayes, an ex-UBS trader, is suing the company for $400 million in damages, accusing them of making him the scapegoat for the Libor scandal. He claims that UBS destroyed his reputation and career, causing him to lose his liberty, marriage, and son's childhood. After a 10-year legal battle, his conviction was overturned. Hayes is now seeking justice and holding UBS accountable for their actions.
The Karnataka Congress on Tuesday lashed out at critics and opposition leaders over claims that the state “lost” Google’s $15 billion data centre project to Andhra Pradesh. In a fiery post on X, the ruling party dismissed the criticism as “noise” and said Karnataka continues to attract global investors because of its talent and innovation, not by offering “inducements.”
Harshvardhan Rane and Sonam Bajwa's romantic drama 'Ek Deewane Ki Deewaniyat' had a strong opening at the Box Office, but saw a decline in collections on its first non-festive weekday. Despite facing competition from other films, it has managed to earn Rs 44.85 crores domestically and become the highest earner of Rane's career and the fourth-highest of Bajwa's. Directed by Milap Zaveri
Larsen & Turbo's Heavy Engineering vertical has secured orders worth Rs 1,000 to Rs 2,500 in international and domestic markets. The company received new orders in oil, gas, and fertiliser projects in the United States, Mexico, and Brazil, as well as in the nuclear power equipment segment. With a 7.21% increase in share price this year, L&T continues to operate successfully.
India's Hindustan Aeronautics and Russia's United Aircraft Corporation have signed an MoU to produce the SJ-100 passenger aircraft in India, the first time since 1988. The SJ-100 is a twin-engine, narrow-body aircraft used for commercial purposes, with 200 already in use by 16 airlines. This deal will enhance regional connectivity and generate employment opportunities
This week, the primary market will witness two contrasting consumer stories - Orkla India, a packaged food company, and Studds Accessories, a leading helmet and motorcycle gear maker. While Orkla's IPO offers no fresh funds, Studds' IPO is recommended due to its strong financial growth and growing two-wheeler market. Both are pure offer-for-sale (OFS) listings.
On October 31, movie lovers can expect a big day with the release of highly anticipated movies on both theaters and OTT platforms. Bahubali fans are eagerly awaiting the latest installment, while other blockbusters like Kantara Chapter 1, Lokah Chapter 1: Chandra, Idli Kadai, and Baaghi 4 will also have their digital premieres. These movies have been successful at the box office.
A leading cardiologist speaking to CNN commented on President Donald Trump’s health, suggesting that the 79-year-old may have quietly undergone an MRI scan due to possible neurological concerns. Trump revealed visiting the Walter Reed National Military Medical Centre on Monday and said the “MRI turned out perfect."
Jana Small Finance Bank's application to become a universal bank was rejected by the RBI due to not meeting requirements. The bank's CEO plans to fix the issues and reapply. However, the recent changes in its parent company structure were not related to this. Another small finance bank, AU, was granted permission to become a universal bank by the central bank.
Darshan Singh Sahsi, a prominent businessman, was fatally shot outside his home in Abbotsford, British Columbia on Monday morning. The incident was caught on camera and shows a gunman getting out of a car and shooting Sahsi as he was getting into his truck. Police are investigating the incident.
The International Monetary Fund (IMF) has warned that US debt levels could soon surpass those of Italy and Greece, Financial Times reported. The alarming prediction comes as Donald Trump’s administration announced massive tax cuts and increased defence spending under “One Big Beautiful Bill.”
An Indian master's student, Praneeth Kumar Usiripalli, has been charged with stabbing two teenagers with a metal fork on a Lufthansa flight from Chicago to Germany. The incident caused the flight to be diverted to Boston Logan International Airport, where Usiripalli was arrested,
The Supreme Court's decision to allow the government to review the AGR verdict has put the spotlight on Vodafone Idea's share price. Motilal Oswal has upgraded the stock and increased the target price, but the company still needs more relief measures to reduce its AGR dues.
MP Shashi Tharoor recently joined the Aryan Khan fan club and received backlash for his positive review of Aryan's directorial debut, The Ba***ds of Bollywood. Tharoor denied the allegations of a "paid review" and defended his opinion. He praised the show for its writing and direction, calling it a "masterpiece" and "OTT gold." Tharoor also congratulated Aryan and his father, Shah Rukh Khan.
Indian equity indices opened Tuesday's trading session with a slight increase in NSE Nifty 50 and BSE Sensex, while Bank Nifty remained flat. Small and midcap stocks had a strong start. The market is anticipating a deal between US and China on tariffs. Early gainers include SBI, Adani Ports, and Tata Steel, while IndiGo and Bajaj Finance are among the laggards.
Bollywood actor and BJP MP Kangana Ranaut was granted bail on Monday by a Bathinda court in a defamation case dating back to her 2021 social media post made during the farmers’ protest, PTI reported. The Queen actor expressed regret over the “misunderstanding” and said she has deep respect for every “mata” (mother), whether from Punjab or Himachal Pradesh.
India's top eyewear company, Lenskart, is launching its IPO on October 31 with a target of raising Rs 7,278 crore. The grey market premium for its shares is high, but analysts caution that the valuation may be too high. Promoters and investors will sell 12.75 crore shares.
Influencer Ben Bader, known for his lifestyle and financial advice content, passed away at the young age of 25. His girlfriend, Reem, shared the news on TikTok, describing him as a kind and positive person. The cause of his death is still unknown, with toxicology reports pending. Bader's last social media post was on his 25th birthday, where he expressed his desire for more in life.
Joining the recent wave of layoffs, Paramount Skydance is expected to announce 1,000 job cuts on Wednesday, a Bloomberg report said citing sources familiar with the matter. The report further added that a second round of layoff will be announced later which will take the total number of job cuts to 2,000.
US President Donald Trump and Japan's new Prime Minister Sanae Takaichi have signed two new deals, strengthening their alliance. One deal focuses on US-Japan relations, while the other deals with rare earths. This marks the beginning of a "new golden age" for their countries.
Amazon is preparing to lay off as many as 30,000 corporate employees starting Tuesday, according to a report by Reuters. This is one of the company’s largest job reductions since 2022. The mass firing is expected to impact nearly 10% of the company’s corporate workforce.
PNB Housing Finance reported a 24% increase in net profit to Rs 582 crore for Q2, driven by growth in affordable and emerging markets. Net interest income grew by 14.4%, while net interest margin decreased to 3.67%. Operating expenditure rose by 7.6%.
Bank of India's MD & CEO, Rajneesh Karnatak, reports improved asset quality in the September quarter with gross NPAs at 2.54% and net NPAs at 0.65%. The bank's one-time settlement scheme aims to resolve issues in MSME and retail sectors. The corporate loan sanction pipeline is at Rs 60,000 crore, with a focus on power, petroleum, renewable energy, and roads.
Ola Electric has launched Hyperservice, an open platform that allows independent mechanics and garages to purchase genuine spare parts directly through its app and website. This eliminates intermediaries and offers full transparency. The company plans to expand this service to include diagnostic tools and technician certification programs.
RBI Deputy Governor emphasizes TReDS, credit assessment models, and fair lending for reviving stressed MSMEs. MSMEs crucial for India's economic growth, RBI committed to strengthening credit ecosystem through initiatives like ULI, Account Aggregator framework, and Regulatory Sandbox. Meeting addresses trade war challenges and calls for government, regulator, and industry support for MSMEs.
MCX stock price rises 4% as new options contracts for bullion index are launched, aimed at reducing volatility in commodities market. MD & CEO Praveena Rai hails this as a crucial step for India's commodities ecosystem, providing an innovative product for market players to access a range of commodities.
Leena Nair, the global CEO of Chanel, is a prime example of Indian women's capability and dominance in various industries. She rose from a small town, becoming the first woman in her family to pursue higher education and holding top positions at Hindustan Unilever. Her success and advocacy for human-centred workplaces make her an inspiration for young women of colour everywhere.
AICPDF refuses to accept orders or meet sales targets from Tata Consumer due to unresolved issues of stock dumping. Distributors in Maharashtra have accumulated Rs 50-60 crore worth of stock, triggering a protest march to the company's headquarters. Concerns are also raised about the pressure on distribution networks caused by Tata Consumer's strategy of promoting multiple products.
Bata India, a popular footwear retailer, reported a 73.26% decline in consolidated net profit in the September quarter due to lower revenue and higher expenses. The company also faced challenges during the GST transition and a disruption at one of its warehouses.
SEBI suggests measures to boost retail involvement in debt market via public offerings, including higher coupon rates and discounts for specific groups. Compliance burden for listed debt securities may be reduced, and related party transaction rules may align with those for equity-listed firms. These changes aim to promote bond market participation and ease of conducting business.
Peyush Bansal, founder and CEO of Lenskart, aims to revolutionize eye-testing and distribution by building a robust infrastructure like Reliance Jio's optic-fibre network. The company's goal is to redefine remote optometry and prioritize customer value, with profit being a byproduct.
Agriculture Minister Shivraj Singh Chouhan has directed NSC to boost its share in the domestic seed market to 25%. He promised to support NSC in competing with private companies and ensuring stable prices. An online seed booking platform was launched and NSC was urged to expand its presence to all districts, with a focus on aspirational districts. NSC aims to increase sales turnover by 33%.
IIM Calcutta successfully concludes summer placements for its flagship MBA program with 510 offers for 470 students from 183 recruiters. The average monthly stipend is Rs1,85,000 and the highest domestic stipend is Rs4,50,000. The institute saw participation from various sectors and received strong support from legacy recruiters.
Indian government approves 7 projects worth Rs 5,532 crore to boost local electronics manufacturing. Kaynes Group leads the investments, creating 5,195 jobs and reducing import bill by Rs 20,000 crore. Projects to cater to 27% of PCB demand, achieve self-reliance in copper laminates and polypropylene films. Scheme attracts investment proposals worth.
JK Tyre & Industries has overcome the effects of US tariffs on tyre imports by expanding in Europe and South America. With a rise in demand in India due to GST reduction, the company is developing new products and increasing capacities.
Kabeer Biswas, former CEO of Dunzo, has left his role as vice president at Flipkart Minutes after just 10 months. He is in talks to join BigBasket, where he will lead the quick commerce vertical. Biswas was succeeded by Kunal Gupta, a Flipkart executive.
India's growth outlook for 2025-26 is promising, backed by strong domestic demand, favorable monsoon, lower inflation, and GST reforms. Global uncertainties pose risks, but the lower GST rate is expected to boost demand and employment. Rural and urban demand has improved, and the manufacturing and services sectors have expanded, leading to upward revisions in growth forecasts.
The Supreme Court has granted Vodafone Idea relief by allowing the Department of Telecommunications to reassess their AGR dues. This decision is specific to Vodafone Idea and will provide them with an opportunity to seek a recalibration of their dues. It has been hailed as a practical move that will aid the company's growth.
Adani Energy Solutions' second quarter net profit decreased by 21%, missing analyst expectations. However, the company saw a one-time positive impact from deferred tax and a 7% revenue growth. Ebitda margins and capex investments increased, with a focus on energy transition and regulatory stability. The company installed 4 million smart meters and has a strong order book and tendering pipeline.
Indian seafood exporters are facing a major setback as the US has imposed effective duties of close to 60% on India's shipments, causing a projected 75% year-on-year fall in exports in September. The decline in marine product exports to the US, which has a 35% share, is expected to impact overall shipments in FY26. The industry is exploring alternative markets to offset losses.
Amazon India's 2025 Great Indian Festival saw a surge in customer visits, with a majority coming from tier 2 and 3 cities. Convenience and value were top priorities, with AI playing a crucial role. Small and medium businesses also saw success. Gold and silver coins, fashion and beauty, and premium categories experienced significant growth, thanks to GST rate cuts.
The 8th Pay Commission will soon be formed and is expected to recommend revised pay and pension norms for over 11.8 million central government employees and pensioners. The report will be submitted in 6-12 months and will have a significant impact on state governments, PSUs, and central universities.
Lenskart Solutions, an eyewear manufacturer and retailer, is set to go public with a price band of Rs 382–402 per share, valuing the company at Rs 69,676 crore. Promoters and early investors, including co-founders Peyush Bansal and Neha Bansal, are expected to see substantial gains, with their stakes multiplying significantly.
The NCAER Business Expectations Survey for India showed a decline in business sentiments in the second quarter of the current fiscal, attributed to global uncertainties and US policies. The Business Confidence Index also decreased, but remains higher than last year. The survey emphasized the need for policy stability and reforms to boost business confidence.
Public sector banks are preparing for the RBI's new ECL-based provisioning framework by building a combined war chest of ₹20,000 crore. This framework requires a forward-looking approach towards provisioning, and PSBs are front-loading provisions to ease the transition.
Indian Oil Corporation (IOC) will follow US sanctions on Russian oil imports, causing Indian refiners to decrease their imports to avoid secondary sanctions. Reliance Industries Ltd, India's top Russian oil importer, may stop importing. Indian refiners are diversifying their crude imports due to a decline in Russian oil.
The Indian government has introduced Bharat Aayat Niryat Lab Setu, a digital platform that will improve the testing and certification process for exports and imports. It will connect exporters, importers, and testing agencies, reducing delays and ensuring traceability of results.
Paytm has introduced a new feature that allows NRIs from 12 countries to use their international mobile numbers for UPI payments through NRE or NRO accounts, eliminating the need for international payment gateways or currency conversions. This move is significant as UPI transactions have seen a rise, with UPI driving 85% of India's digital payments.
Bharat Founders Fund (BFF) has made 10 investments this financial year and aims to make 12-15 more by FY26. The firm is sector-agnostic and sees potential in AI applications in the physical world. BFF offers India-specific operational guidance through its network of operators and focuses on being the first external cheque for founders at the angel and pre-seed stage.
Amazon India's fashion and beauty business saw a rise in festive demand, led by non-metro shoppers and a rise in interest for premium and homegrown D2C brands. The company introduced virtual try-on and image-based search to improve the shopping experience.