600 MILLION SETTLEMENT
Micron enters $600 million settlement of Netlist patent dispute
Netlist said in a statement that Micron would pay $30 million per quarter for a five-year license to Netlist's patent portfolio that includes its "high bandwidth memory" technology.
Ashok Leyland's best year in its history, and what the annual report says about holding on to it
Ashok Leyland sold more commercial vehicles in FY26 than in any year since it was founded, earned its highest-ever profit, and closed with Rs. 5,899 crore of net cash. Where does the company go from here? What strategies will it adopt? A close reading of the 340-page annual report, along with the company's year-end call and the June-quarter filing, provides the answers.
College sports gets its Congress moment: Inside the Senate-passed Protect College Sports Act
The Protect College Sports Act was passed by the US Senate, setting federal rules for college athletics. This legislation governs how athletes can earn money, transfer schools, and receive revenue. The bill now moves to the House of Representatives for consideration and potential amendments. Supporters argue that federal law is necessary to stabilize college sports and prevent further litigation.
Oil Price Today (September 23): Crude oil below $100 on hopes of US-Iran talks. What did Trump say?
Brent crude futures fell 7 cents, or 0.07%, to $99.18 a barrel, while West Texas Intermediate futures declined 35 cents, or 0.39%, to $90.17 a barrel.
Stocks in news: Tata Group stocks, HDFC Bank, Coforge, HFCL, Sun Pharma and Varun Beverages
On September 11, Indian stock markets experienced a remarkable bounce back after an initial dip at opening. Key index heavyweights attracted selective buying, which limited the day’s overall losses. Major players like HDFC Bank and IT sectors remained in focus amid relevant corporate announcements. Additionally, SEBI's discussion paper regarding the Closing Auction Session received input on five critical areas.
BSE volumes ease after sharp rebound; CAS remains in focus: Nuvama
For FY27 to date, BSE’s ADPTV is around Rs 26,200 crore, while its ADPTV market share is around 35.2%. Its premium-to-notional turnover ratio is around 12.4 basis points, compared with 17.2 basis points for the industry.
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Restaurants step up food safety; UpGrad seals Unacademy deal
Happy Wednesday! India’s food safety crackdown is forcing restaurants to clean up their kitchens and supply chains. This and more in today’s ETech Morning Dispatch.
UpGrad completes Unacademy acquisition; Ultrahuman’s $60 million raise
UpGrad has completed its acquisition of Unacademy, marking the close of a major consolidation in India’s edtech sector. This and more in today’s ETtech Top 5.
Indian Railways is planting an aromatic-rooted grass in Lonavala ghats to prevent landslides and avert a Nepal-like flash flood situation
Indian Railways is testing vetiver, an aromatic-rooted grass native to India, as a low-cost nature-based solution to stabilise vulnerable slopes, control runoff and reduce the risk of landslides during heavy rainfall.
Great Smoky Mountains National Park: In 1929, farmer said no to an offer for his 375-acre farm. Years later he lost the case and the land
In 1929, Tennessee farmer John W. Oliver refused to sell his 375-acre Cades Cove farm for $20 an acre to make way for Great Smoky Mountains National Park. After years of legal battles, he was forced to give up the property and received $17,000 in compensation.
Beginning in the 1930s, America built 29 giant locks and dams across the Mississippi River and they turned a wild river into a massive water staircase
The Upper Mississippi River's navigation was transformed by America's construction of locks and dams in the 1930s. While these aging structures facilitate the annual transport of millions of tons of goods, supporting vital economic activity, they have also inflicted ecological harm on river ecosystems. Current modernization initiatives strive to enhance navigational reliability while simultaneously mitigating environmental impacts.
A Latvian astronomer and his wife drove 190 miles to a secret Soviet ghost town in 1994; found a 600-ton telescope the Russians had poured acid on - adapted the Cold War machine built to spy on the West and listen to the stars
After the retreat of Russian forces from Latvia, a concealed Soviet-era radio telescope came to light. Astronomer Juris Zhagars dedicated his efforts to repairing the damaged equipment for research purposes. Alongside his wife, he revitalized a forsaken structure within the old military zone. Now, this telescope supports international scientific initiatives, focusing on terrestrial measurements and astronomical exploration, thriving as a modernized radio astronomy hub.
Gold pulled India back from the edge of crisis 35 years ago
Thirty-five years after India pledged 67 tonnes of gold to avert a balance of payments crisis, the episode remains one of the defining moments in the country's economic history. The emergency gold airlift bought crucial time for the landmark 1991 reforms that transformed India from a licence-permit economy into one of the world's fastest-growing major economies.
Parliamentary panel seeks penalties for banks hosting multiple mule accounts
A parliamentary committee suggests penalizing banks for mule accounts and KYC lapses. It also highlighted delays in merchant discount rates impacting payment providers' investments. The government is exploring a self-reliant revenue model for UPI's financial sustainability. Amendments allow charges on UPI and other digital payment modes. This aims to address a significant funding gap impacting infrastructure development.
In 1929, a Tennessee farmer refuses to sell his 375-acre farm for Great Smoky Mountains National Park for $20 an acre. After years in court, he lost the farm but got more than double the amount
Despite his refusal to sell, John W. Oliver's fight against the government's eminent domain claim for his cherished farm lasted years. Ultimately, the Tennessee Supreme Court permitted the land acquisition process to move forward. While he gained a larger financial compensation, he ultimately lost his beloved 375-acre property, epitomizing the struggles surrounding the park's establishment.
Infra.Market’s backdoor listing; Honasa posts record profit
Infra.Market is set to enter the public markets through a reverse merger with Shalimar Paints. This and more in today's ETtech Top 5.
UPI costs Rs 20,700 crore, government allocation just Rs 2,000 crore: Parliament Panel
A parliamentary committee suggests a self-reliant revenue model for UPI's financial sustainability. Amendments to the Payment and Settlement Systems Act now permit transaction charges on digital payments. The committee noted a significant funding gap between allocations and operational costs. Future merchant discount rate charges will be nominal and apply to limited high-value transactions.
US court dismisses criminal charges against Gautam Adani, Sagar Adani; senior lawyers laud decision
A US federal court has officially dismissed the criminal charges against Gautam Adani and his nephew, thanks to the Justice Department's request after analyzing jurisdictional and evidentiary issues. This ruling marks a significant victory for the Adani Group, although it does not imply any ruling on the allegations themselves. Gautam Adani hailed the ruling, proclaiming that justice has emerged victorious.
How the Spanish Civil War turned Belchite into a ghost town: Inside the Spanish settlement frozen in the aftermath
In the heart of Spain, Belchite offers a poignant glimpse into the devastation of the Spanish Civil War. After experiencing catastrophic destruction, General Francisco Franco opted to preserve the town's ruins as a stark reminder of the era. Now, Belchite draws visitors eager to understand the heavy toll of this historical conflict, resonating as an everlasting symbol of a challenging chapter in Spanish history.
TikTok settling three teen social media lawsuits ahead of trial
TikTok has agreed to settle three lawsuits concerning addictive platform designs. Young plaintiffs alleged social media platforms harmed their mental health and well-being. These cases are part of thousands consolidated in California state court. Claims against Meta, Google's YouTube, and Snap's Snapchat will continue. Attorneys are using these bellwether trials to gauge jury sentiment.
Scientists uncover a lost Amazon civilization hidden beneath the rainforest using lasers, may have been home to 3 million people
Ancient earthworks discovered using LiDAR technology reveal a large Aquiry civilization. These geometric structures suggest extensive human shaping of the Amazonian landscape. Researchers estimate tens of thousands of these sites may still be hidden. The Aquiry civilization likely supported millions of people at its peak. This discovery challenges previous assumptions about the Amazon's pre-Columbian inhabitants.
Who is Karyna Shuliak? Belarusian dentist who could inherit Jeffrey Epstein's $100 million-plus fortune & was left diamond ring 'in contemplation of marriage'
Newly released investigative files detail Karyna Shuliak's nearly eight-year relationship with Jeffrey Epstein, revealing that he provided her with significant financial support and helped fund her dental education. The documents also allege that he arranged a marriage to help her obtain US residency. Shuliak reportedly travelled with Epstein to several of his properties and was named as one of the beneficiaries of his estate. However, the exact amount she could inherit from Epstein's reduced fortune remains undisclosed.
Bank of Baroda shares fall 2% after Q1 earnings. Why are brokerages slashing target prices?
Bank of Baroda shares fell after a sharp 72% drop in Q1 net profit due to a one-off NMC Health settlement. Brokerages cut target prices despite stable core performance. Margins, fee income and upcoming ECL norms remain key concerns, though asset quality and loan growth trends offer some support.
Bank of Baroda Q1 Results: Profit falls 72% to Rs 1,278 crore on one-off settlement hit
Bank of Baroda's June-quarter profit fell 72% due to a Rs 5,680 crore one-off settlement, despite strong loan growth and stable asset quality. Excluding the exceptional item, profit rose, supported by higher net interest income and healthy retail lending.
Inside the legal campaign that freed Gautam Adani from US prosecution
US prosecutors dropped bribery and fraud charges against billionaire Gautam Adani. A 10-week defense campaign presented nearly 600 pages of legal arguments. This extensive effort persuaded the Justice Department to abandon the prosecution. The case began in November 2024 and was dismissed in May 2026. Adani and his nephew settled parallel civil charges with the SEC.
Is enforcement of banking regulations ownership neutral?
Bank of Baroda settled a $600 million dispute with NMC Healthcare administrators, ending a protracted legal battle. This significant payout, wiping out a quarter of its projected profit, raises serious questions about the bank's governance and disclosure practices. The settlement, reached without admitting fault, highlights a perceived leniency in regulatory oversight for state-owned banks compared to private institutions, prompting calls for more equitable enforcement.
Bank of Baroda to pay $600 million to settle NMC Health insolvency claims
Bank of Baroda has agreed to a $600 million settlement with administrators of the insolvent NMC Health Plc. The bank faced allegations of gross negligence, failing to conduct proper due diligence, and allowing fraudulent transactions without adhering to anti-money laundering and KYC norms. This payout, significantly exceeding its reported exposure, aims to resolve claims from NMC Health and its affiliates, stemming from a fraud discovered between 2012-2020.
Bank of Baroda settles NMC Health dispute for $600 million; Q1 credit grows 17%
Bank of Baroda has settled a significant legal dispute with NMC Health entities for USD 600 million, resolving claims under UAE and UK regulations. The bank's Abu Dhabi branch facilitated the payment, concluding proceedings without admitting liability. In other news, BoB reported robust financial performance, with credit growth reaching 17% and total deposits rising 14% in the first quarter of FY27.
Pact with workforce is a step towards sustainable and successful future for TN plant: Renault-Nissan MD
Renault-Nissan Automotive India Pvt Ltd recently announced investments of USD 600 million about Rs 5,300 crore which would see roll out of six new models including two electric vehicles at its plant in Oragadam near Chennai to serve domestic and overseas markets.
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