EXECUTIVE ORDERS 2023
Compulsory retirement order is neither punitive nor stigmatic in character: SC
The Supreme Court upheld the Chhattisgarh government's order of compulsory retirement for several employees. It noted such orders are not punitive or indicative of misconduct against the employees. The court emphasised the importance of objective evaluations when determining an employee's suitability for continued service. It clarified that the decision should not be based on mere conjecture or whim.
Daughter took father’s land by paying Rs 7.25 lakh in cash to her brothers and abandoned father, he filed a court case; Karnataka HC gives back the land to him
Mr. Bairappa had given his land to his daughter with the understanding of receiving care. However, she betrayed him by denying assistance and fraudulently claiming the land through various documents. After a legal battle, the Karnataka High Court ruled in Bairappa's favor, canceling the release deed. The court highlighted the importance of protecting senior citizens from financial exploitation by their children.
How a banking scandal is taking down Trump’s ally in Paraguay
Paraguay's Ueno Bank has collapsed, leaving customers locked out of their accounts and prompting nationwide protests. President Santiago Peña faces impeachment while being linked to the bank's swift downfall amid allegations of misconduct. The Central Bank had found serious issues with Ueno’s lending practices prior to its seizure, which caused it to be declared insolvent. Regulators found that the bank issued loans beyond legal limits without proper categorization.
Ousted Paraguayan President Santiago Pena placed under house arrest after bank collapse; Pedro Alliana sworn in as sudden successor
Santiago Pena, the ousted President of Paraguay, was placed under house arrest on charges of misconduct. His removal follows the collapse of Ueno Bank, affecting nearly half of Paraguay's population. Vice President Pedro Alliana has assumed presidency amidst public outcry for accountability. Regulators seized Ueno Bank, locking depositors out of their accounts and triggering a political crisis. Lawmakers allege Pena abused his political influence regarding Ueno's operations and regulatory oversight.
Government plans to empower TRAI to penalise telecom operators flouting rules
The government is addressing issues related to Trai's authority to penalise telecom operators for violating rules. Complaints about pesky calls and SMS have surged, reaching over 20.75 lakh in just the first half of this year. Although complaints have increased significantly, disconnections of telecom resources misused for such communications have decreased. Meanwhile, the number of blacklisted entities involved in this issue has risen continuously over the last few years.
Why did the ETF betting against Jim Cramer’s stock picks shut down in less than a year?
The Inverse Cramer Tracker ETF launched in March 2023 with a strategy built around betting against Jim Cramer’s stock recommendations. But the fund lost 15%, attracted just $2.4 million in assets and faced closure less than a year later. Here’s why the unusual ETF shut down.
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Who is Keisha Lance Bottoms? Democrat makes history by becoming the first Black woman to be elected as Governor in the US, wins Georgia
Keisha Lance Bottoms has achieved a historic milestone by being elected the first Black woman governor of Georgia with 54.77% of the vote, defeating Republican opponent Rick Jackson. A former mayor of Atlanta and presidential advisor, Bottoms's win represents a pivotal transition from over twenty years of Republican rule. Her commitment to LGBTQ rights and opposition to ICE policies underscores her progressive values and vision for the state.
Deb Haaland: A single mother's journey to becoming the first Native American woman to govern a US state
Deb Haaland's election as governor of New Mexico signifies a notable achievement in political representation. She previously served as the US Secretary of the Interior, marking more milestones in her career. Haaland's campaign focused on affordability and proposed reforms in healthcare and child welfare systems. Her victory represents a continued progression for Indigenous voices in American politics.
SK Hynix's New York chip plans hit snag over US restrictions on China, sources say
SK Hynix is seeking US export licenses to equip its Dalian plant, arguing that increased production there would help fund its planned US expansion. But the Commerce Department has yet to approve the new licenses, the people said. Its Solidigm unit plans to invest about $45 billion and build two NAND plants in Marcy, New York, two people said, with investment potentially reaching about $100 billion over time. NAND is memory that retains data even when power is turned off and is used for storage in data centers.
Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump
Stock market investors are growing wary as prices continue to drop amid broader economic issues. Nevertheless, mutual fund managers are optimistic, identifying many investment opportunities during this downturn. The article identifies six stocks that have seen a rise in mutual fund investments, showcasing their resilience and growth potential during tough times. This analysis offers investors valuable insights to enhance their future strategies.
Chinese EVs win over some in South Korea, but Japan is proving to be a rougher road
Chinese electric vehicle makers such as BYD are making inroads into South Korea, challenging established domestic brands with competitively priced models and growing dealership networks. BYD has sold more than 20,000 vehicles in the country in the first nine months of the year, overtaking Toyota and Lexus combined. Japan, however, has proved a tougher market due to low EV adoption, consumer preference for hybrids and scepticism towards Chinese brands.
Brazil's Flavio Bolsonaro lands in Florida after election defeat
Flavio Bolsonaro, Brazil's defeated presidential candidate, arrived in Florida despite a court order barring his exit. He is currently under investigation for alleged corruption and money laundering following his election loss. Bolsonaro's trip included a stop in Ecuador and speculation about his whereabouts had been rampant. Brazilian President Lula condemned his departure from the country as shameful and suspicious.
For Trump, a hot-button issue goes from being a big strength to being a liability
For Trump, the challenge is no longer simply to demonstrate that his administration can restrict illegal immigration. It is to convince voters that the methods used to achieve that objective are justified.
TRAI’s internet TV proposal raises concerns over wider OTT regulation, say legal experts
The Telecom Regulatory Authority of India has proposed a new framework for internet-based linear television distribution. This recommendation could broaden the interpretation of the Telecommunications Act and affect other digital content. Legal experts express concerns over TRAI's jurisdiction regarding OTT services and the implications for freedom of speech. The Ministry of Information and Broadcasting must decide whether to adopt these recommendations.
ED attaches SP leader Azam Khan's Jauhar University property worth Rs 1,170 crore
The Enforcement Directorate has provisionally attached the assets of Mohammad Ali Jauhar University in Rampur. This action is taken under the Prevention of Money Laundering Act based on allegations against Azam Khan and others. Allegations include the illegal acquisition of land and misappropriation of public funds for the university's construction. Previous investigations revealed significant discrepancies in the financial records of the associated Trust.
Iranians fear a possible return to all-out war as US and Israeli elections approach
Many residents in Tehran are increasingly anxious as threats of war loom ahead of elections in the U.S. and Israel. Iranian leadership remains defiant despite mounting pressures due to a naval blockade and economic challenges. Citizens are stockpiling food and medicines as a precaution against potential military conflict. Political moderates are calling for negotiations to address the worsening economic situation.
Adani Wind bags 696 MW turbine orders from 5 power producers, targets 10 GW capacity
Adani Wind has received significant orders for 696.2 megawatts of wind turbines from five power producers. The contracts involve projects in states such as Karnataka, Gujarat, and Maharashtra. Plans are in place to increase annual manufacturing capacity at its facility in Mundra from 2.25 GW to 5 GW. Additionally, the company aims for a long-term manufacturing capacity target of 10 GW.
US has for years asked Musk to alter Starlink service in Ukraine, Middle East, sources say
Multiple requests were made by the Biden and Trump administrations for SpaceX to adjust Starlink services across different regions. These requests included both restricting access to adversarial groups and providing access to allies and civilians. Notably, officials expressed concerns about Starlink being used by Iranian proxy forces, which the US aimed to counteract. Additionally, Ukraine's military access to Starlink has recently been limited, raising alarms among European officials.
November Visa Bulletin: Big movement for Indian family-sponsored green-card applicants
The November US Visa Bulletin brings significant progress for Indian family-sponsored green-card applicants, with F1, F2B and F3 dates advancing by one year. F2A moved ahead by one month. Employment-based categories saw limited movement, with only EB-3 and Other Workers advancing, while EB-1 and EB-2 remained unchanged.
US Treasury proposes a rule to crack down on high-tech investments in China, other adversaries
The U.S. Treasury Department plans to enforce a rule limiting high-tech investments in China and Russia. This initiative aims to curb investments that may boost military capabilities in identified countries. The proposed restrictions will apply specifically to investments exceeding $50,000 and exclude many financial options. Treasury will review public comments before finalizing the rule, indicating a longer compliance process. Additionally, the ongoing tech rivalry between the U.S.
ET Prime Special Series: Multibagger or IBC - Part 81: Momentum in numbers will decide fate of this auto ancillary's stock
A few years back, the important question for this auto ancillary supplier was whether its investments and customer programmes would begin producing enough revenue. Today, the numbers look very different. Annual income has jumped, exports have risen, and a large overseas-linked order has helped deliver a record quarter. How much of the improvement is repeatable, and how much reflects an unusual opportunity?
Delhi court declares Siddharth Khera absconder in Rs 400-crore Seagull Maritime case
A Delhi court has declared Siddharth Khera an absconder in a fraud case involving Seagull Maritime Agencies. Judicial Magistrate Deepakshi Rana ordered police to register an FIR after Khera failed to appear in court. The Supreme Court had previously allowed the investigation agency to explore diplomatic channels for his deportation. The allegations include diverting business payments to related firms alongside his father, Ajay Khera.
India's Russian crude binge to continue after Trump waives new sanctions law
With a fresh sanctions waiver from the US, India is poised to sustain its current levels of Russian crude imports, having now surpassed China as the leading importer. The country's strategic embrace of discounted Russian oil has transformed its energy cost framework and prompted a rethink of crude sourcing tactics. Analysts anticipate that this trend will have lasting effects on India's import profile and overall economic dynamics.
Sumitomo-backed Yes Bank pegs AT1 bond verdict hit at Rs 5,217 crore
Yes Bank's reported profit for the September quarter could have turned into a loss due to the AT1 bond ruling. The bank's CET-1 ratio would drop significantly if the Supreme Court's decision is fully implemented. Investors are concerned as mutual funds pause investments in the bank's AT1 bonds. Yes Bank is assessing the legal and financial implications of the Supreme Court's judgment.
West Bengal imposes Section 163 BNSS for 3 days after Kolkata Pandal stampede claims 19 lives
A tragic stampede at the Chorbagan Durga Puja pandal in Kolkata resulted in the deaths of 19 individuals. In response, Kolkata Police implemented Section 163 of the BNSS, 2023 to maintain public order. This order prohibits unlawful assemblies and carrying any dangerous weapons in the affected areas. The West Bengal government has announced compensation for the victims' families and initiated an investigation.
Deepfakes muddy protest coverage as online platforms restrict individual accounts
Several AI-generated clips have gone viral on Instagram, Facebook and X, drawing millions of views and comments. A recent viral clip of a woman criticising the protests, for instance, led users to an Instagram profile that regularly posts AI-generated political content.
Son living in father's property receives eviction notice after family feud, he fights back in court; Delhi High Court orders son's family to vacate
Delhi High Court upheld a father-in-law’s decree for possession of his Paschim Vihar flat but said his widowed daughter-in-law cannot be evicted until alternate housing is arranged or Rs 15,000 monthly rent is paid. Court set aside damages awarded by trial court.
Schneider Electric raises 2026 targets again on booming data centre demand
Schneider Electric has achieved a record revenue of €11.46 billion in the third quarter, exceeding analyst projections. The company has adjusted its revenue and earnings growth targets for 2026, buoyed by strong demand, especially in the data centre segment across China and East Asia. Schneider is actively boosting its software capabilities with acquisitions like Cognite and PTC.
Air India CEO looks to cut high maintenance bill of A350 fleet engines; sets up committee
Tewolde Gebremariam is exploring ways to reduce the cost of Air India's Airbus A350 maintenance. The airline has faced higher expenses than anticipated for operating and maintaining the Trent XWB engines. This cost review is part of Tewolde's effort to improve the financial performance of the loss-making carrier. Additionally, he aims to enhance cargo operations, which currently utilize only a fraction of their capacity.
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