Latest News
Refresh- Russia expels British defense attache in a tit-for-tat move
Russia declared Britain's defense attache persona non grata and expelled Maxim Elovik over espionage allegations. Tensions between the UK and Russia involve cyberattacks, targeted killings, and Russian interference in Ukraine. Britain sanctioned wealthy Russians and tightened regulations on money laundering.
- OpenAI strikes deal to bring Reddit content to ChatGPT
The deal underscores Reddit's attempt to diversify beyond its advertising business, and follows its recent partnership with Alphabet to make its content available for training Google's AI models.
- Xi, Putin hail ties as 'stabilising' force in chaotic world
Xi Jinping and Vladimir Putin emphasized the crucial role of China-Russia relations in maintaining global peace and stability.
- Israel moves into north Gaza Hamas stronghold, pounds Rafah without advancing
Israel's tanks advance into Jabalia in Gaza, fighting Hamas militants. The offensive targets eradicating Hamas, with clashes in Rafah. International pressure mounts to stop the assault led by Prime Minister Benjamin Netanyahu against Hamas and Islamic Jihad in Rafah. Israeli Defence Minister Yoav Gallant announces troop deployment in Rafah, while Hamas official Sami Abu Zuhri vows to defend.
- Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
- Char Dham Yatra: Uttarakhand govt extends ban on VIP darshan till May 31
Uttarakhand govt extends VIP Darshan ban for Char Dham Yatra till May 31 due to surge in pilgrims. Registration mandatory with health guidelines. 26 lakh devotees register for Yatra starting on May 10. Char Dham Yatra holds spiritual significance, covers pilgrimage route, and offers travel options. 'Char Dham' means four holy sites.
- US House votes to force weapons shipments to Israel, rebuking Biden
The Republican-led U.S. House passed a bill to force President Biden to send weapons to Israel amid the conflict with Hamas. The bill, not expected to become law, underscores the divide over Israel policy. Netanyahu's government aims to combat militants as civilian casualties rise in Gaza. Speaker Johnson and Leader Jeffries criticized the political motives behind the bill.
- GIFT Nifty down 5 points; here's the trading setup for today's session
The rupee stayed range-bound and settled 4 paise lower at 83.50 against the US dollar on Thursday, weighed down by unabated foreign fund outflows amid investors' weak appetite for riskier assets.
- Stocks in news: Vodafone Idea, Biocon, PB Fintech, ZEEL, JSW Steel
Shares of ZEEL, JSW Steel, Godrej Industries, Glaxo and Sobha will be in focus as the companies will announce their quarterly results.
- RBI's Swaminathan cautions NBFCs on poor data, unsecured loans
"While automation can enhance efficiency and scalability, NBFCs should not allow themselves to be blinded by these models. It is crucial to recognise that rule-based credit engines are only as effective as the data and criteria upon which they are built. Over-reliance on historical data or algorithms may lead to oversights or inaccuracies in credit assessment, particularly in dynamic or evolving market conditions," Swaminathan said.
- Fraud, crypto & wallet: A virtual hold for a real crime
Soon after a transaction by a scammer or the use of a mule account to purchase cryptos is tracked, the virtual digital assets (VDAs) can be moved to the proposed special account which would be under the control of a law enforcement agency (LEA).
- Mizuho is in talks to buy KKR’s part stake in fintech company InCred
According to latest discussions, global investment firm KKR may sell around 10% stake in Mumbai-based tech-driven NBFC InCred but this may change depending on how the talks progress, sources told ET.
- Wipro's Pallia to moderate AI ‘crowdsourcing’ session with staff
In what might also be considered crowdsourcing of ideas, new CEO Srinivas Pallia will moderate a virtual session for staff on June 12 on ways to develop strategies to help clients in artificial intelligence.
- India is in line for a major AI platform shift: Google Labs VP
Google Labs is an incubator created by US technology firm Google to test and publicly demonstrate new projects.
- E&RD growth to come from US, Germany and Japan, says LTTS CEO
LTTS, a mid-tier information technology firm, reached the $1 billion revenue milestone in 2023-24 2024.
- Quick commerce is diversifying fast; it won’t be easy
As 10-minute delivery expands to include higher-value products, companies will soon realise that with big orders come big hurdles, say executives.
- AP fire-hit Foxlink back on track with a new Tamil Nadu plant
Apple supplier, Foxlink of Taiwan, is setting up a new factory in Oragadam, close to Chennai. This move comes as part of a fresh expansion plan following a destructive fire at their facility in Tirupati, Andhra Pradesh, last year.
- HDFC Manufacturing Fund raises over Rs 9,500 crore
Some wealth managers said high-pitch advertising and marketing by fund houses and distributors along with strong returns from equity schemes have led to strong money flows into NFOs. Many investors used the new fund to diversify their existing portfolios.
- Norway excludes Adani Ports, US and Chinese cos from pension fund
Norges Bank said on Wednesday that it excluded the company because of an unacceptable risk that the company contributes to serious violations of individuals' rights in situations of war or conflict. The other two companies blacklisted by Norges Bank include US-based L3Harris Technologies and China's Weichai Power.
- PB Fintech's Dahiya, Bansal likely to sell stakes worth Rs 1,053 crore
Dahiya plans to sell up to 54 lakh shares, while Alok Bansal intends to sell up to 29.70 lakh shares, valuing the deal at about ₹1,053 crore at the floor price.
- Religare moves HC over Sebi 'inaction'
Religare has asked the court to direct Sebi to conduct a forensic audit to unearth the facts behind the grievances raised by it and to submit to the court a detailed report on the actions taken by the capital markets regulator.
- India eyes more Chabahar-like pacts: Ports Minister Sarbananda Sonowal
Sarbananda Sonowal, Union Minister of Ports, Shipping, and Waterways, stated that India aims to replicate the Chabahar port model in other strategic locations in the region to acquire additional assets. In an interview with ET, he emphasized that India is actively investigating opportunities to bolster its maritime presence and trade connectivity.
- Bidding wars back?: Reliance Jio move signals a spectrum of possibilities
Bharti Airtel, India's second-ranked telco, deposited ₹1,050 crore while Vodafone Idea (Vi) paid ₹300 crore, the department of telecommunications (DoT) said Thursday. None of Jio's licences are coming up for renewal while Airtel and Vi need to renew in 6 and 2 circles, respectively, in 900 MHz and 1800 MHz bands.
- Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers
The trend continued in April, driven by an improvement in income levels thanks to healthy economic growth, making the automobile industry bullish of a sustained recovery in the twowheeler segment and sparking green shoots of recovery in small car sales.
- Dry spell impact: Darjeeling tea prices shoots up 10-15% this season
Darjeeling tea has been facing nature's wrath for quite some time now. In 2022, Darjeeling tea production was 6.93 million kg. In 2023, it dwindled to 6.18 million kg. Violent agitations in the hills in 2017 and recent resurgence in the demand for Gorkhaland ahead of the ongoing elections, too, have impacted the gardens and their profitability in a big way even as demand is growing within the country, industry insiders said.
- Analysts upbeat on Airtel, bet on tariff hike post elections
Analysts see room for more gains in the stock on expectations of a tariff hike, higher average revenue per user (ARPU) - a measure of earnings generated from each user - and lower capex.
- Short covering-led rally in last leg turns D-Street green on a dull day
NSE's Nifty rose 203.3 points or 0.92% to close at 22,403.85. BSE's Sensex rose 676.69 points or 0.93% to end at 73,663.72. Both indices fell as much as 0.6% before the bounce back in the last hour of trading. Mahindra & Mahindra gained over 3%, emerging as the biggest index gainer. Tech Mahindra, Infosys, Bharti Airtel and Titan gained 2-3%.
- Green with Envy: Now ONGC, NTPC arm may bid for Ayana Renewable Power
Oil and Natural Gas Corp (ONGC) is reportedly in discussions with NTPC Green Energy to form a consortium for bidding on Ayana Renewable Power, owned by the National Investment and Infrastructure Fund (NIIF). The enterprise value of Ayana is estimated to be around $2 billion. Other entities like JSW Neo Energy, Sekura Energy, Masdar, Macquarie, and Sembcorp have also shown interest in acquiring a controlling stake in Ayana.
- Stock Radar: Multibagger in a year! This defence stock is flying high: should you buy or book profits?
HAL may have given multibagger returns in the last one year, but there’s more steam left to it. The stock rose from Rs 1,512 on May 15, 2023, to Rs 4,185 on May 15, 2024 — an upside of over 178%. Holding to the momentum, it hit a fresh record high of Rs 4,265 on May 16.
- Silver prices surge to nearly Rs 90,000/kg, reaching all-time high
Silver prices surged to nearly Rs. 90,000 per kg, hitting an all-time high, driven by increased industrial applications and speculation of no immediate reduction in US Federal Reserve policy rates. Within a month, silver prices rose by over 5%, with analysts attributing this surge to growing industrial demand from electric vehicle and photovoltaic solar panel manufacturers. High prices prompted selling of household silver in Mumbai's Zaveri Bazaar. Importantly, silver imports in FY24 rose by about a third, indicating strong industrial procurement and stable prices.
- 'The Thundermans Return' Spinoff: See all details about cast, production, plot and creative team
Nickelodeon greenlights a spinoff series from 'The Thundermans Return,' featuring original cast members Kira Kosarin and Jack Griffo. The series follows Phoebe and Max as they handle a new threat in Secret Shores. Production begins in August, with premiere details to be announced later.
- Never Let Go: What we know so far about release date, trailer, storyline, cast and creative team
The horror movie ‘Never Let Go’ is all set for a theatrical release in September. The evil continues to haunt Halle Berry and her sons whose lives hang by a mere thread.
- Assassin’s Creed Shadows: Catch all the important details here
Assassin’s Creed Shadows will be available from November 15. The players will get to traverse across Japan even as they get to wage battles.
- X-Men '97 Season 2: Will there be a second installment? Creators unveil the future of the franchise
Marvel enthusiasts have reason to celebrate with the return of the beloved animated series, 'X-Men '97,' bringing back the nostalgia of the iconic superhero franchise. Featuring the original cast reprising their roles, this Disney+ revival seamlessly continues the legacy of the 1992 classic.
- The Office spinoff: Will it be set in Scranton? Here's what we know about release date, cast, and setting
A spinoff of The Office is currently under development at Peacock and according to reports, will be set in the same universe as the original series, created by the notable Greg Daniels.
- Gen V Season 2: Here’s the latest production and cast update
Gen V Season 2 starts production after significant changes. The cast shares updates on social media. The new season will not feature two main characters from Season 1. The production team plans to honor the late Chance Perdomo in the upcoming season.
- Indian football’s ‘Captain Fantastic’ Sunil Chhetri will retire after the Kuwait tie on June 6
It was just moments after Sunil Chhetri, India’s greatest ever player, had made public his retirement plans -- the FIFA football World Cup qualification game against Kuwait on June 6 in Kolkata. That’s when we got head coach Igor Stimac on the call. “Sunil had mentioned this to me two months earlier.
- Electioneering at its peak but diesel sales slide, petrol almost flat
India's diesel sales dropped in early May, while petrol consumption remained steady despite peak election campaigns, according to state-owned firms' preliminary data. Petrol sales in the first half of May were nearly unchanged from last year, at 1.367 million tonnes. Diesel sales fell by 1.1% to 3.28 million tonnes, continuing declines seen in previous months. Despite factors like electioneering and reduced fuel prices, diesel demand has not increased. Jet fuel sales rose year-on-year, but cooking gas LPG sales slightly declined.
- India leader in Green Energy Affordability, says MNRE Secretary
India's Renewable Energy Secretary Bhupinder Singh Bhalla underscored India's leadership in renewable energy affordability at the World Hydrogen Summit 2024 in Rotterdam. Bhalla emphasized India's efficient grid infrastructure for integrating renewable energy and assured the global industry of India's capability to scale production with adequate market demand and support. He highlighted that 43% of India's current installed electricity capacity comes from non-fossil fuels, with expectations to reach 50% by 2030, reflecting India's robust renewable energy strategy.
- Man City bids to make history and Jurgen Klopp bids farewell as Premier League heads toward dramatic finale
Manchester City is bidding to make history. Jurgen Klopp is bidding farewell. The English Premier League is heading toward a dramatic and emotional finale on Sunday, with the title race between Man City - seeking an unprecedented fourth straight top-flight championship - and Arsenal going to the wire and taking centre stage on an afternoon when goals and tears usually flow.
