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Nvidia working with outside firm to identify CEO candidates
The board is weighing the idea of naming a temporary chief while searching for a permanent one, the person said, asking not to be identified because the information isn’t public.
Two weeks after the US restricted Nvidia’s China chips, a four-month-old Shanghai firm became a ‘preferred partner’ - here’s why the timing matters
A Shanghai company secured Nvidia's Preferred Cloud Partner status just four months after its founding and two weeks after the US expanded chip export restrictions on China. An investigation by The Information has since linked its ownership to Alice Huang's family and examined its place in a wider network handling billions of dollars in Nvidia GPUs.
Wachtell, Nvidia's pick for Huang probe, built reputation in boardroom battles
The investigation will be led by Joon Kim, a former top federal prosecutor who joined Wachtell last month from a rival firm. Kim was second-in-command under former Manhattan US Attorney Preet Bharara during Democratic US President Barack Obama's administration.
Xiaomi eyes local partners; Electronics firms target AI infra
Xiaomi is looking for local partners as it plans to manufacture home appliances in India. This and more in today’s ETtech Top 5.
Dollar firms as hot inflation, hawkish Fed talk lift rate-hike bets
The US dollar has gained against multiple currencies due to expectations of Federal Reserve interest rate hikes. Inflation data revealed an increase in consumer prices, prompting trader speculation about further monetary tightening. The Japanese yen has weakened to its lowest level in over two months, approaching significant mark. Many developed-market currencies are performing poorly against the dollar this year, attributed to widening interest-rate gaps.
Realty firms' land acquisition falls 56% to 1,445 acres in Jan-Sep: Anarock
In the first nine months of 2026, a notable drop in land acquisition activities by Indian real estate firms has been observed. Anarock attributes this decline to developers adopting a cautious strategy, influenced by rising costs and emphasized selectivity in land purchases. Notably, joint development agreements with landowners represented 25% of all deals, hinting at a stronger focus on project feasibility and connectivity.
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Rupee touches strongest since April as foreign inflows offset firm dollar
On Wednesday, the Indian rupee surged to its healthiest value since April, closing at 93.69 against the dollar. This upswing was driven by a remarkable influx of foreign investments in local stocks, totaling nearly $6 billion in November. Even in light of a stronger dollar amid US inflation signals, the rupee stood firm. There's a notable optimistic shift in market sentiment, now eager for India's inflation data anticipated for October.
South Korea fines 15 brokerages, banks $1.2 billion for bond auction collusion
South Korea’s Fair Trade Commission fines 15 banks and brokerage firms a combined 1.6 trillion won ($1.2 billion) for colluding in 150 government bond auctions between 2020 and 2023. Institutions allegedly shared confidential bidding information, coordinated yields and volumes, distorted market competition and influenced government bond yields.
Pakistan farmers in long fight to make German firms pay for flood damage
Farmers from Pakistan's Sindh province are pursuing legal action against German firms RWE and Heidelberg Materials. They claim these companies' emissions contributed to severe flooding that devastated their livelihoods in 2022. This case marks a significant attempt to hold major polluters accountable for climate change impacts.
Maharashtra plans FY28 IPO for state power transmission firm MSETCL; approval likely soon
Maharashtra State Electricity Transmission Company (MSETCL) is targeting an FY28 IPO to raise ₹7,000-8,000 crore, with a proposal submitted to the state government and approval expected within two months, according to Additional Chief Secretary Abha Shukla. The transmission utility has appointed six banks for the proposed listing and plans to use the funds to participate in tariff-based competitive bidding projects.
US flags visa fraud involving sham staffing firms and fake student records, warns applicants
The US State Department has exposed multiple visa fraud schemes involving sham staffing companies, forged employment documents and fake academic records across several international jurisdictions. The cases include fraudulent recruitment of foreign workers, fabricated student exchange applications and falsified criminal records submitted by immigrant visa applicants.
Sonia Gandhi went from 'absolutely not' to 'theek hai' to firm no while deciding on taking up PM post
Sonia Gandhi reflects on her decision to decline the prime ministership after the 2004 elections. Her children expressed concern over the dangers associated with the position. Despite initial pressure from alliance leaders, she ultimately stood firm on her decision. Gandhi describes a moment of self-reflection that led her to nominate Manmohan Singh instead. The entire experience was emotionally taxing for her and her family.
Front-of-pack labelling: Food CEOs rush taste tweaks as new rules loom
Packaged food companies in India are responding to regulatory pressures by introducing no-added-sugar and low-salt alternatives. Executives recognize the challenge of maintaining taste while making these healthier options. The Food Safety and Standards Authority of India plans a major change in food packaging regulations. These changes could significantly impact the sale of everyday packaged products. Companies will likely expand their product variants to meet health demands.
Tech firms claw back some losses after midterms rout, eyes on Nvidia
Tech firms rose Monday to claw back some of last week's painful losses fuelled by AI regulation worries, though traders were keeping a wary eye on a probe into Nvidia boss Jensen Huang amid claims of an affair with a Chinese spy. The executive, Alice Huang -- also known as Huang Le, and no relation to 63-year-old Taiwanese-born Jensen -- developed a close relationship with the Nvidia boss, the Times said.
IT firms with lower capital requirements may gain as investors shift focus to AI monetisation: Report
Information technology (IT) companies capable of monetising enterprise adoption of artificial intelligence (AI) without making substantial capital investments could gain an advantage as investors increasingly differentiate between businesses funding AI infrastructure and those generating returns from its adoption, according to a report by Anand Rathi.
Trump says "a lot of people" objected to Vance's remarks blaming midterm defeat on Iran war
US President Donald Trump commented on Vice President JD Vance's remarks regarding the midterm elections and the Iran conflict. While many criticized Vance's analysis, Trump expressed his agreement, emphasizing their alliance remains strong. The President stated that military action against Iran is unlikely as negotiations continue, but did not rule it out completely.
Smaller deals become big revenue driver for India’s top IT firms
The number of customers generating $1-10 million in annual revenue increased at most of these companies in the first half of fiscal 2027 from a year earlier, even as that of their big clients remained largely flat or grew at a slower pace.
Gurgaon offices calling more than half of staff to office, violating 50% WFH rule, will be issued show-cause notices; employees can complain on 112
Gurgaon administration has opened two helplines, including 112, for residents to report companies violating the 50% work-from-home requirement. Anonymous complaints will trigger inspections. The move follows show-cause notices to law firms Trilegal and JSA after inspections found more than 60% of their employees working from office.
US Treasury sanctions Canadian money services firms over Iran-related transactions
US Treasury imposed financial sanctions on eight Canadian money services firms involved with sanctioned Iranian entities. The sanctions block access to dollar-based financial systems and prohibit transactions with US persons. Secretary of the Treasury Scott Bessent stated that Canada cannot provide safe havens for illicit financial facilitators. Additionally, MEXC Global, a virtual currency exchanger, was cut off from the US financial system.
Tech Mahindra to increase stake in Italian design firm Pininfarina
Tech Mahindra’s subsidiary, PF Holdings BV, entered into a commitment to buy the shares at 1.20 euros each, the Indian IT services company said in a stock exchange filing on Friday. The shares account for 10.02% of Pininfarina’s issued capital.
Mphasis posts 19.6% growth in Q2 profit at Rs 561.1 crore
The Bengaluru-headquartered company's revenue for the three months ended September 30 rose 17.4% from a year earlier and 4.5% sequentially to Rs 4,580.9 crore.
Binance $6.3 billion heist to prompt closer scrutiny by insurers
Following the $6.3 billion Binance heist, insurers are stepping up their scrutiny of cryptocurrency firms' security measures. During policy renewals, they will inquire about vulnerabilities exposed by the Binance incident. This reassessment could lead to new security prerequisites and an overhaul of risk evaluations. The event underscores the inadequacies of existing insurance solutions in the crypto landscape. Insurers will likely keep a vigilant eye on developments as the sector progresses.
BMW Industries Q2 Results: Net profit rise 43% YoY to Rs 21.62 crore
BMW Industries Ltd has reported an impressive 42.7 percent increase in net profit for the quarter ending on September 30. The firm's total income surged by 33 percent compared to the same quarter last fiscal year, while EBITDA rose by 25 percent, showcasing its resilience and growth. Notably, the new greenfield downstream steel complex in Bokaro commenced operations, with future plans focused on optimizing capacity utilization across these facilities.
India flags Chinese-linked AI tools in hacking campaign against financial firms
India's cybersecurity agency named the hacking group behind a wave of AI-driven attacks on financial firms and identified its tools, at least two of them linked to China, adding India to a growing list of countries where
Chinese genetic firm Novogene sues US over military designation
Chinese genetic sequencing firm Novogene has initiated legal action against the Pentagon over its military designation. Novogene was added to a list of companies alleged to be supporting Beijing's military as of June. This designation prohibits the Defense Department from directly contracting with these firms, including Alibaba and Baidu. Other Chinese companies have also pursued legal recourse against the Pentagon regarding similar designations.
IT firms turn to acquisitions to boost revenue growth
The contribution rose to $147-148 million in the July-September period, reflecting a full quarter of consolidation. The acquisition has therefore become a significant part of the firm’s reported revenue base.
Sebi imposes Rs 40 lakh penalty on two brokers in Axis Mutual Fund front-running case
Securities and Exchange Board of India has imposed penalties on two stockbroking firms over regulatory violations. Woodstock Broking and Marfatia Stock Broking allowed unauthorized access to their trading terminals. This access facilitated front-running trades by Prijesh Kurani, who operated from Dubai. The investigation revealed insider information was shared regarding Axis Mutual Fund's trades. The regulatory body emphasized the importance of stringent controls over terminal access and trading infrastructure.
Law firms draft special teams to help GCCs navigate India terrain
Multinational companies expanding their global capability centres in India may face multiple regulatory and operational challenges going forward. Law firms are forming specialist teams to help these companies navigate complex issues including employment laws and data localisation.
Kannada activists visit Bengaluru IT firms, seek data on local hiring
Kannada activists are actively engaging with IT firms in Bengaluru regarding local employment statistics and hiring practices. They are gathering information about the number of Kannadigas employed and recruitment trends in these companies. The activist group plans to protest if companies refuse to share this requested information. Chief Minister DK Shivakumar has stated the government will investigate complaints about local hiring discrimination.
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