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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.
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.
Bird Group plans to double the business across all verticals by 2030
Bird Group has signed a lease for developing a hotel on 12 acres in Shillong. The hospitality arm aims to increase its keys from 600 to approximately 1,200 by 2030. The group also plans to introduce a new brand that caters to value for money in service. Additionally, ongoing aviation projects and a growing food services business are key areas of focus.
Anirudh Ravichander net worth: How did the music composer build his empire? He is reportedly charging Rs 25 crore for Allu Arjun’s film
Anirudh Ravichander is making headlines for his work in Jailer 2 and his personal life. Reports link him to Kavya Maran, CEO of Sunrisers Hyderabad, as they are reportedly tying the knot in November. Anirudh is recognised for his successful collaborations with renowned figures in Indian cinema. Read on to know more about his journey, net worth and luxury cars.
From a nearly $11 million Pagani Zonda, an Aston Martin hypercar to 3 Ferraris, F1 star Fernando Alonso boasts a multi-million dollar car collection: Here’s a look inside
Fernando Alonso, the well-known Formula One driver, possesses an expansive collection of luxury and hypercars. He recently acquired a Pagani Zonda Diamante Verde, valued at approximately $11 million. His collection also features multiple Ferraris, including a LaFerrari and a special edition Ferrari 599 GTB. In addition, Alonso owns a Maserati GranCabrio and a McLaren P1, among others. His passion for cars reflects his successful and lengthy career in Formula One.
China's luxury demand recovery may remain elusive, forcing global brands to rethink growth: Bernstein report
A report by Bernstein indicates that the luxury goods industry faces challenges due to reduced Chinese consumer demand. Economic factors such as falling property prices and youth unemployment are contributing to a weakened market. Companies may need to adjust their pricing strategies to meet consumer expectations for affordability and value.
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India refines 1,200 tonnes of gold but consumes 800-850 tonnes: How GIFT City could help unlock major export opportunity
India’s 1,200-tonne gold refining industry could unlock new export opportunities through GIFT City, following the introduction of responsible sourcing and audit guidelines by the International Financial Services Centres Authority (IFSCA). The framework sets standards for refiners seeking Good Delivery accreditation to trade gold through the India International Bullion Exchange (IIBX).
Porsche takes aim at Ferrari with luxury supercar concept
Porsche AG has unveiled the Mission S, a concept previewing a new supercar positioned above the 911 as part of CEO Michael Leiters’ strategy to revive the automaker’s profit margins. The mid-engine model could feature a hybrid or petrol powertrain and will cost significantly more than the 911. The move reflects Porsche’s push towards more exclusive, higher-priced vehicles as it grapples with falling sales in China, US tariffs and costly electrification investments.
Bollywood actor Imran Khan who took part in CJP protest had sold his Ferrari, BMW and Mercedes for a common man’s Volkswagen Polo GT car. Why he ditched the luxury cars?
Former Bollywood actor Imran Khan traded his luxury car collection, including a Ferrari, Porsche, Mercedes and BMW, for a customised Volkswagen Polo GT and a modified Mahindra Thar. He said modifying the Polo over four years has brought him greater satisfaction than driving his Ferrari. Imran is also in the spotlight after Mumbai Police detained him during a protest demanding Chief Election Commissioner Gyanesh Kumar’s resignation, prompting BJP leader Kirit Somaiya to seek his deportation.
Jaguar has reinvented itself with a 1,016-hp electric car. But its biggest challenge may not be Tesla
Jaguar has introduced the Type 01, a new electric grand tourer that showcases their rebranding efforts. This vehicle features a powerful 1,016-horsepower electric motor and starts at a price of $130,500. Jaguar aims to attract luxury buyers and shift its focus away from traditional design elements. The company faces challenges in distinguishing itself amid a crowded electric vehicle market.
AI revenue should offset traditional services deflation: TCS CEO K Krithivasan
Due to the continuing pressure on companies amid geopolitical strife, TCS is assuming client budgets will not rise. It is, however, banking on customers spending on AI and modernisation. AI revenue - which crossed 10% of the total in the September quarter - should compensate for deflation in traditional services in the medium term, the CEO said.
TCS to hire 80 pc of workforce with digital, AI skills; AI work to expand profitability
TCS expects about 80% of its new hires to have digital and AI-related skills as the company shifts towards more AI-led work. With AI-linked revenue already accounting for around 10% of its business, TCS also expects a greater share of such deals to support margins, while continuing to invest in niche talent, acquisitions and partnerships.
Explained: Why IT stocks ignored Donald Trump’s PERM suspension to gain Rs 70,000 crore in one day
IT stocks rallied up to 4% on Friday, adding Rs 70,000 crore in market capitalisation, despite the US suspension of a labour certification programme. Strong Q2 results from TCS, easing oil prices and bond yields, and developments around OpenAI also supported sentiment. TCS gained after reporting 15% profit growth, while brokerages flagged near-term margin pressures and evolving AI-related risks.
TCS shares jump 4% after Q2 results. What are Goldman Sachs, Nomura, others saying?
TCS Share Price: Tata Consultancy Servies shares surged after the IT major reported a 15% year-on-year rise in Q2 consolidated net profit to Rs 13,884 crore. Revenue in constant currency terms grew 0.5% quarter-on-quarter, while operating margin stood at 24%. The company declared a second interim dividend of Rs 12 per share for FY27.
Infosys, TCS, Wipro and other IT stocks rise up to 4%. Here are 3 important triggers to watch
IT stocks including TCS, Infosys, Wipro, HCLTech, Tech Mahindra, Coforge and Persistent Systems rose up to 4% on Friday. The gains came amid a confluence of factors, including second-quarter earnings and the US suspension of a certification programme. TCS and Wipro were among the key gainers, while midcap IT stocks also saw strong buying interest during the session.
Winners of The ET Startup Awards 2026 to be feted today
Happy Friday! The who's who of the startup ecosystem will come together in Bengaluru today to honour the winners of The Economic Times Startup Awards (ETSA) 2026.
TCS Q2 profit rises 15% to Rs 13,884 crore as AI revenue doubles; growth remains subdued
TCS reported a 15% year-on-year rise in September-quarter net profit to Rs 13,884 crore, while revenue grew 11.2% to Rs 73,188 crore. AI services revenue doubled to $3.1 billion annually, but constant-currency growth was just 0.5%. Margins narrowed to 24% as hiring and operating costs increased.
India’s AI rules take shape; TCS profit jumps 15%
The government is set to release a consultation paper on AI regulations within a month. This and more in today’s ETtech Top 5.
TCS dividend! IT giant declares second interim dividend of Rs 12 per share for FY27
TCS announced a second interim dividend of Rs 12 per share for FY27 after reporting a 15% rise in Q2 net profit to Rs 13,884 crore. Revenue grew 11% to Rs 73,188 crore, while operating margin stood at 24%.
TCS Q2 results: Profit rises 15% YoY to Rs 13,884 crore; co declares dividend at Rs 12 per share
TCS Q2 Results 2026: IT services major Tata Consultancy Services (TCS) reported 15% year-on-year (YoY) growth in its consolidated net profit at Rs 13,884 crore for the second quarter. Also the company has declared a second interim dividend of Rs 12 per share for the financial year 2026-27.
TCS shares jump 3% ahead of Q2 results. 5 things investors should watch out for
TCS Share Price: According to the average of seven brokerages, TCS revenue is likely to grow about 13% YoY, while profit may rise around 9%. Sequential growth, however, is expected to remain modest, with most analysts pencilling in constant-currency revenue growth of 0.5-0.6%.
TCS Q2 Results Preview: Can the IT bellwether show enough growth to calm investors?
Tata Consultancy Services is scheduled to release its second-quarter results on October 8, with analysts predicting a year-on-year revenue growth of roughly 13%. However, the sequential growth might be modest at around 0.5%-0.6%. Investors will also be looking for updates on new contracts and collaborations with firms like Porsche and BSNL, as market sentiment stays cautious amid ongoing IT sector challenges.
A 20,000-sq-ft Ibiza mansion, an estate with a 15-car garage: A look at soccer star Messi's $300 million real estate portfolio
Lionel Messi has retired from international soccer. He owns an expansive real estate portfolio across different countries worth nearly $300 million. His properties include a 20,000-square-foot mansion in Ibiza, an estate in Agentina with a 15-car garage and several luxury condos in Florida. Messi's investments also encompass hotels, a beverage line, and various other assets.
Jeetendra lives in a Rs 200-crore Krishna bungalow in Mumbai's Juhu featurin family portraits, a large Ganesh temple and spaces for family gatherings
Jeetendra's journey from a modest upbringing in Girgaon's Shyam Sadan chawl to wealth showcases family success. The Kapoor family’s property holdings include the significant 'Krishna' bungalow in Juhu, valued at Rs 200 crore. Jeetendra's business career as chairman of Balaji Telefilms accompanies his acting legacy. His daughter Ektaa has expanded the family's media empire, increasing her net worth substantially.
Michigan-born TV producer claimed she was heir to family behind F-15 Eagle, defrauded banks of nearly $30 million and vanished: Meet Mary Carole McDonnell, now on FBI’s Most Wanted list
Mary Carole McDonnell is a former television producer who is now a fugitive wanted by the FBI. She allegedly committed fraud involving nearly $30 million by misrepresenting her identity to banks. McDonnell claimed connections to the McDonnell Douglas family, seeking a large inheritance and lying about family tragedies. After her indictment in 2018, she disappeared, and the authorities believe she may be in Dubai.
What is kratom and how is it related to the deaths of 2 Ole Miss students at University of Mississippi? Authorities investigate 'possible overdose'
The discovery of packaged kratom at the location of the two deceased Ole Miss students has sparked speculation that the substance may have been responsible for their deaths. Law enforcement say that “investigations remain ongoing" and have not comfirmed that kratom was connected to deaths of Mississippi students. Kratom is available for purchase as powders, capsules, extracts, gummies, teas and drinks at stores around the United States and online
How did Chris Spatola die? ESPN analyst, US Army veteran and former Duke staffer dies suddenly at 47
How did Chris Spatola die? Chris Spatola, 47, tragically passed away, as reported by Duke University and ESPN. A veteran of the US Army, he joined Duke’s coaching staff during their illustrious 2010 National Championship run. The cause of Chris Spatola's death is not known as the statement only said that he "passed away unexpectedly."
Steve Jobs once hid his Porsche from billionaire Ross Perot; 40 years later, Apple CEO John Ternus reportedly drives a $1M+ Porsche 935 at California’s Laguna Seca
In 1987, Steve Jobs hid his Porsche from billionaire Ross Perot because he did not want the young company to look flush with cash during a crucial funding conversation. But after 4 decades, it has been revealed that Apple CEO John Ternus drives Porsche 935 whose original price tag of around $800,000. Ternus has set a lap time of under 1 minute and 40 seconds at California’s Laguna Seca.
Porsche could face another 4,000 job cuts, Handelsblatt reports
Volkswagen's restructuring plan includes over four thousand job cuts at Porsche. This move addresses a significant overhead shortfall within the sports car brand. These proposed layoffs are in addition to previously agreed upon reductions. Porsche's CEO faces pressure to implement a comeback strategy. The company recently lowered its full-year profit margin target significantly.
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