LETTER OF INTENT
BJP demands transparency from Industries Minister on Rs 1,370 cr expansion plans in Tamil Nadu
The Tamil Nadu BJP spokesperson Narayanan Thirupathy challenged TN Industries minister S Keerthana's claims of Rs 1,370 crore expansion plans of South Korean companies. Thirupathy said the investments were not the government's achievement but routine expansion of existing South Korean companies in the state. He claimed that most of the new manufacturing capacity expansion and jobs went to Andhra Pradesh.
ASEAN to launch joint oil product stockpiling scheme as early as 2027, Nikkei reports
In a move to bolster regional energy security, ASEAN nations plan to roll out a collective oil stockpiling project by 2027. This initiative will establish crucial storage locations in Indonesia and Thailand, enabling member states to share resources. Initially, during emergencies, the Philippines will access diesel and gasoline from these shared reserves.
Two auto firms commit Rs 1,370 cr investment in Tamil Nadu, govt dismisses rumours of projects shifting to AP
Two automotive manufacturers have committed to invest a total of Rs 1,370 crore in Tamil Nadu. Hwashin Automotive India will invest approximately Rs 850 crore over the next five years for various advancements. Seoyon E-Hwa Summit plans to invest around Rs 520 crore in technology upgrades and new business developments. The investments reflect the state's ongoing appeal to automotive investors.
UPI sees Diwali boom; AI cracks Captcha
Diwali spending fuelled a surge in UPI transactions, with both payment volumes and values rising. This and more in today’s ETtech Top 5.
Complaint filed against Minister Priyank Kharge for linking RSS to 44,250 cartridge seizure case
A complaint was filed against Karnataka Home Minister Priyank Kharge for allegedly spreading misinformation on social media. The complaint specifically accuses him of linking the RSS to a recent ammunition seizure in Bihar and Haryana. BJP MP Tejasvi Surya condemned the minister for peddling what he termed as fake news. Former Bengaluru Police Commissioner Bhaskar Rao also criticized Kharge's actions, urging him to uphold the dignity of his office.
Watch viral Ole Miss video: What did Alaina Kunes and two other women do outside Black students' apartment?
Viral Ole Miss video: A 13-second Ring doorbell video from an Ole Miss student's apartment shows three white women walking past the door, with two allegedly making ape-like gestures and noises. The footage sparked widespread backlash and a university investigation, while 18-year-old Alaina Kunes has since been identified, apologized and withdrawn from the university. The other two women remain unidentified.
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‘Unaware of their race’: Who is Alaina Kunes? Ole Miss freshman and granddaughter of Kunes Auto Group owner apologizes after viral racist video
Alaina Kunes, an 18-year-old who previously studied at the University of Mississippi, has publicly apologized for her inappropriate actions towards Black students that were recorded and shared online. She expressed regret for her behavior, acknowledging the pain it caused within the Ole Miss community. The university has launched an investigation into the incident, and Kunes has chosen to withdraw, offering her full cooperation during this process.
‘Made it a point to speak frankly to each other’: Sonia Gandhi on her equation with Manmohan Singh
Congress leader Sonia Gandhi's memoir, Belonging: A Journey of Love, offers insights into her political journey and relationships with key figures. She recalls her equation with former PM Manmohan Singh, Pranab Mukherjee's reported suggestion that he could become PM, Rahul Gandhi's elevation as Congress president, her limited interactions with PM Narendra Modi and the circumstances surrounding Maneka Gandhi's departure from the family home.
'Kept my Italian passport because it was part of me': Sonia Gandhi recounts renouncing Italian citizenship in memoir
Sonia Gandhi detailed her experience of renouncing her Italian citizenship and adopting Indian nationality in her memoir. She described the emotional process of surrendering her passport, which symbolized part of her identity. Over time, she felt increasingly disconnected from her life in Italy and embraced her life in India. The renunciation was emphasized by the Italian embassy official, highlighting the permanence of her decision.
Sonia Gandhi's memoir recalls the stormy years of 'Choti Bahu' Maneka
Sonia Gandhi's memoir explores the familial and political tensions within the Gandhi family. Maneka Gandhi's marriage to Sanjay ignited complex dynamics leading to significant disagreements. Indira Gandhi's concerns about Sanjay's political ambitions and Maneka's influence further strained relationships. The eventual fallout resulted in Maneka's departure, which Sonia describes in detail in her book. This historical account outlines the impact of personal conflicts on political landscapes within a prominent family.
I was unfaithful to my wife: Nvidia CEO Jensen Huang admits secret affair with Chinese spy Alice Huang; all you need to know about the controversy
Nvidia CEO Jensen Huang admitted to having an extramarital relationship with a business executive. Reports suggest that the executive may have connections to Chinese espionage activities. Nvidia's board has initiated an independent investigation to examine these allegations thoroughly. US lawmakers have requested a briefing to understand potential national security issues related to the case. Huang remains the CEO, while the investigation seeks to clarify any risks to the company.
Geopolitical tensions, climate finance and 1.5°C breach cloud COP31 negotiations
Kicking off in Antalya, the UN climate conference COP31 will tackle significant climate action issues. With around 160 matters on the agenda, delegates will discuss emission cuts and strategies for global adaptation. Political strains and economic challenges pose obstacles, but Turkiye and Australia are at the helm, advocating for actionable solutions and financial commitments for developing nations, striving for a unified decision on essential climate concerns.
Modern dating's hottest currency is clarity, consistency and the courage to communicate
A recent first date highlighted the challenges faced in contemporary dating, particularly regarding emotional unavailability and vague intentions. Miscommunication often leads to misunderstandings and disappointment. By recognizing each other's emotional states, partners can create a shield against blame in their relationships. Still, the quest for clear intentions and honest dialogues is both rare and sought-after. Ultimately, forming real connections calls for both emotional bravery and openness from both parties.
Vance leads behind-the-scenes push for a new Iran deal: Report
US Vice President JD Vance has been actively working to establish a new ceasefire with Iran. He is engaging with Qatari and Pakistani mediators to facilitate nuclear negotiations. Although military tensions continue, Vance's efforts aim at a diplomatic resolution. Discussions have reportedly gained positive momentum following Vance's outreach to Iranian officials. The Trump administration remains committed to pursuing a diplomatic solution despite ongoing military actions.
Meghan Markle says a 2018 letter containing troubling allegations about Thomas Markle shaped her decision to protect Archie & Lilibet. Here is what it revealed
Meghan Markle has distanced her children from their grandfather Thomas Markle due to safety concerns. Allegations about Thomas Markle's behavior were reported to British police before being shared with Meghan. Recent developments include a federal arrest of Thomas Markle on charges of child pornography. The estrangement and reasons behind it are tied to a letter sent to police outlining these concerns.
altM raises $10.3 million to scale production of specialty chemicals from agricultural waste
Founded in 2022 by former Tesla manufacturing executives Apoorv Garg and Yugal Raj Jain, altM develops specialty chemicals and biomaterials by converting agricultural residue such as sugarcane bagasse and rice straw into industrial inputs that can replace conventional fossil-derived materials.
Equitas Small Finance Bank shares jump 9% after Balaji Nuthalapadi’s appointment as interim CEO
The bank further said that appointment of Nuthalapadi as interim CEO, consequent to the resignation of P. N. Vasudevan as the MD & CEO, shall take effect from the date of RBI approval or such other date as may be stipulated by the RBI in this regard.
Karnataka, Finland’s Tampere region sign pact to create Creative Corridor for AVGC, immersive tech
The agreement was signed under the Global Innovation Alliance (GIA) initiative of the Department of Electronics, IT and Biotechnology through the Karnataka Innovation and Technology Society (KITS). The proposed corridor will seek to strengthen cross-border partnerships, innovation and business opportunities between the two ecosystems.
Jupiter Wagons bags Rs 324 crore orders from GATX India and Chetak International
Jupiter Wagons Ltd has obtained private sector orders worth over Rs 324 crore for automobile carrier wagons. GATX India issued a Letter of Intent for 10 rakes valued at Rs 214.94 crore. Chetak International placed an order for five rakes worth Rs 109.10 crore. The company highlights strong demand for its new ACT2 wagon platform among private operators.
Equitas SFB shares tumble 27% in 2 days on CEO exit. More pain ahead?
Equitas Small Finance Bank shares plunged 27% in two sessions after CEO and founder PN Vasudevan announced his resignation over a perceived conflict involving his daughter’s NBFC.
Cyberattacks hit NBFCs; Pine Labs Q2 profit zooms
Cyber criminals are targetting smaller NBFCs with specialised AI toolkits. This and more in today’s ETtech Top 5.
WeWork India H1FY27 net profit rockets 150%, revenue surges 30%
WeWork India’s first-half FY27 net profit surged 149.5% to Rs 119 crore, while revenue grew 30.1% to Rs 1,466.7 crore. Capacity expansion, rising memberships, stronger cash flows and improved margins supported growth and strengthened its financial position.
WeWork India H1 net profit rises 150%, revenue up 30.1%
WeWork India reported a 149.5% year-on-year rise in first-half FY27 net profit to Rs 119 crore, while revenue grew 30.1% to Rs 1,466.7 crore. Capacity expansion, membership growth and improved operating margins supported performance. Operating cash flow strengthened, and the company shifted to a net cash position amid rising demand for flexible workspaces.
Stocks in news: Reliance Industries, Eternal, IREDA, Yes Bank, Trent and Hindustan Zinc
Indian equity benchmarks experienced a decline as profit-booking occurred amid rising crude oil prices. The Nifty 50 dropped significantly, closing at 22,889 after disappointing corporate earnings. Reliance Industries aims to raise funds through its initial public offering today, which is highly anticipated. Other companies such as IREDA and Yes Bank reported mixed financial results for the quarter. Investors are closely monitoring these developments and their potential market impacts.
Online festive sales fizzle; Snowflake CEO on AI’s impact on software
Happy Monday! Festive ecommerce sales have slowed down this year, we tell you why. This and more in today’s ETtech Morning Dispatch.
Urban Company's Q2 loss triples on InstaHelp burn; CEO Bhal says ready to 'respond in full' to rivals
With competition in the instant househelp segment remaining intense, InstaHelp's post-discount average order value (AOV) fell about 12% to Rs 118 in the September quarter from Rs 134 in the June quarter. Urban Company competes with Nexus Venture Partners-backed Snabbit and General Catalyst-backed Pronto in the instant househelp segment, and both rivals have raised large sums this year.
Blue Drum Murder Case: Muskan Rastogi, Sahil Shukla skip dinner and cry through the first night after death sentence in Saurabh Rajput murder
Muskan Rastogi and Sahil Shukla are facing the death penalty for the murder of Saurabh Rajput. The couple reportedly struggled emotionally after the court's judgment and has begun the appeal process. Muskan wishes to meet her older daughter, Pihu, while her infant daughter remains with her in prison. Saurabh's family expressed their wish to avoid adopting Radha, but are open to caring for Pihu.
Canadian AI lab Cohere moves to buy AI cybersecurity startup AISLE
Cohere has taken a significant step in the cybersecurity arena by signing a letter of intent to acquire AISLE, an AI-driven startup focused on detecting software vulnerabilities. This move comes after Cohere's substantial $20 billion merger with Aleph Alpha. By integrating AISLE's capabilities, the aim is to elevate cybersecurity measures for both enterprise and public sectors, enhancing their threat detection potential.
NPS investment in startups: AINPSEF writes to PM Modi seeking probe and asks for dissolution of NPS Trust
Manjeet Singh Patel has alleged serious financial irregularities concerning the National Pension System Trust. He has requested a high-level audit by the Comptroller and Auditor General of India. Patel asserts that many employees' NPS investments have turned negative due to poor market performance. He demands the implementation of a guaranteed minimum return on employee contributions.
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