The Economic Times

US stocks tumbled on Friday as disappointing results from Intel and Amazon reignited concerns over rising artificial intelligence spending and uncertain returns. The Nasdaq recorded its biggest single-day percentage decline since June 5. Technology stocks led losses, while the S&P 500 and Nasdaq also ended October in negative territory.

Investor concerns about the high expenditures on artificial intelligence have intensified amidst rising borrowing costs. Major technology companies like Meta, Alphabet, and Microsoft are increasing their capital outlays to strengthen AI infrastructure. The Nasdaq 100 index has already seen a significant decline of more than 5.8% in October. Analysts predict that global AI infrastructure spending could reach unprecedented levels by 2030.

The lender is investigating a potential breach of limited data pertaining to its vehicle-loan customers. The data was hosted on a third-party software platform operated by Salesforce.

Watching mesmerised as the purohit at a friend's Durga Puja rhythmically waved the silver oil lamp with multiple wicks before the goddess, and then in succession, a silver camphor lamp, incense sticks, red cloth, conch shell, flowers and a silver-handled fly-whisk while incessantly ringing a bell with his other hand, I noticed that the dhak-drum beats changed subtly at every phase of the arati. For the first time I figured the dhaki (drummer) was doing a duet with the priest.A few days later, an

Isro successfully launched its GSLV-F18 rocket carrying the 2,250-kg NVS-03 satellite from Sriharikota at 11:51 pm on Friday. The mission aims to strengthen India's indigenous NavIC navigation system through upgraded satellite capabilities, including an indigenous atomic clock and the addition of the L1 frequency signal alongside existing L5 and S-band signals.

Reddit shares plunged 23% after the company warned that Google's AI powered search features were hurting referral traffic and could lead to a decline in daily active users. Pinterest also fell after issuing a weaker revenue outlook, as pressure on European cross border sellers weighed on its business and growth expectations.

By September 2026, the Centre's fiscal deficit had escalated to 7.14 lakh crore, exceeding last year's figures. This increase is fueled by a 10.7% rise in total expenditure, largely a result of heightened capital spending and food subsidies, while petroleum subsidies sharply declined. Gross tax revenue, however, saw a modest growth of 6.1%, even with lower excise duty collections attributed to tax reforms.

The Centre has extended the customs duty exemption on cotton imports until December 31, 2026, from the earlier deadline of October 31, 2026, to augment cotton availability for India's textile sector.The extension is expected to help reduce input costs across the textile and apparel industry, providing relief to manufacturers and consumers while taking into account the interests of domestic farmers, the government said.The measure is also expected to have a positive impact on the domestic textile

Binance, the world's largest cryptocurrency exchange, has reportedly suffered a $6.3 billion security breach, with analysts suspecting North Korean hackers were behind the theft. However, its US affiliate, Binance.US, has said it was unaffected by the incident, assuring American customers that their funds remain safe and services are operating normally.

Intel shares plunged 30% after the chipmaker issued a weak fourth-quarter revenue forecast and warned of negative cash flow for the year. The warning triggered a global semiconductor selloff, with Nvidia, AMD and other chip stocks declining as weak PC demand and rising AI infrastructure costs weighed on sentiment.

Xavier Niel's investment vehicle, Vega SAS, has obtained approval from the Competition Commission of India to purchase a 16.2 percent stake in Vodafone Group for approximately 4.4 billion pounds. Post-acquisition, Vega SAS will become Vodafone's primary shareholder, a pivotal step as Vodafone continues to concentrate on its core markets following earlier restructuring efforts. This decision also complies with India's fair competition regulations, promoting healthy market dynamics.

Sun Pharma reported a 36% decline in Q2FY27 net profit to Rs 1,989 crore due to exceptional litigation and acquisition-related costs. Revenue grew 11.8%, supported by strong domestic and emerging market sales, while US formulations weakened.

Syrma SGS Technology reported an 87.2% increase in consolidated net profit for the quarter ending September 2026. Consolidated revenue increased by 73.2%, reaching a record high of Rs 1,999.5 crore. The companys exports grew by 91% year-on-year, showcasing strong international demand. Investments are planned in collaboration with Kaga Electronics to enhance the domestic supply ecosystem.

Zee Entertainment Enterprises reported a 40% decline in consolidated net profit for the quarter ended September 30, 2026. Operating revenue increased by 13%, largely due to growth in subscription revenue supported by the FIFA World Cup 2026. Total expenditure rose by 18% primarily driven by increased programming and promotional costs. ZEE5, the company's streaming platform, showed significant growth by doubling its revenue year-on-year.

Lodha Developers reported a 63% rise in first-half FY27 profit to Rs 2,386 crore, driven by strong property sales and market expansion. The developer expects to exceed annual profit guidance while pursuing data centres to boost recurring income.

In India, it's essential for policymakers to harmonize growth output with inflation expectations. Niti Aayogs Ashok Lahiri pointed out the importance of addressing inflation alongside job creation. He urged banks to play a pivotal role in linking enterprises with financial support and investment options. To capitalize on its natural resources, West Bengal must focus on industry attraction, while effective land acquisition and good infrastructure remain key for business development.

Spandana Sphoorty Financial reported consolidated Q2 profit of Rs 18 crore, reversing a Rs 249 crore year-ago loss. Assets under management grew 31% to Rs 5,364 crore, while improving asset quality reduced gross and net NPAs.

Intel shares (NASDAQ: INTC) fell about 29 per cent on Friday, October 30, one of the steepest single-day drops in the companys history. The fall is set to wipe out roughly $137 billion to $140 billion of its market value, depending on the report. It came a day after Intel gave a revenue forecast that was well below what Wall Street expected.Why Intel stock is falling todayOn Thursday, Intel said its revenue for the December quarter would be between $15 billion and $16 billion. Analysts had expec

Bank of Baroda reported 36% year-on-year profit growth to Rs 6,532 crore in Q2FY27, boosted by NSE stake sale gains and higher interest income. The lender raised annual credit and deposit growth guidance amid strong loan demand.

The Today show hosted its annual Halloween special, celebrating NBC's 100th anniversary with various tributes. Savannah Guthrie and Jenna Bush Hager dressed as characters from Friends, performing together. Al Roker humorously portrayed Gumby while other anchors took on iconic NBC personalities. Special guests, such as Martha Stewart and Jack McBrayer, surprised the hosts with entertaining appearances.

Reliance Industries' oil-to-chemicals sector reported record earnings due to soaring global fuel prices. The firm credited this success to the rise in energy costs and improved refining margins for the second quarter. While rising crude oil and transport fuel prices bolstered revenue, increased procurement and transportation expenses served as a constraint on overall earnings.

Why is the US stock market down today? Weak earnings from Intel and Amazon, plus AI worries, pulled the Nasdaq down 2.14% and the S&P 500 down 1.29%. Dow Jones is at 52,113.50, down 0.44%. Nvidia, AMD and Reddit also fell.

Reliance Industries reported record Q2FY27 profit of Rs 29,550 crore and revenue of Rs 3.62 lakh crore, driven by strong refining margins and Jio growth. Retail profitability weakened, while declining debt improved the conglomerate's financial position.

The Competition Commission of India (CCI) has approved Adani Energy Solutions' Rs 3,050-crore acquisition of IntelliSmart Infrastructure. The transaction involves acquiring 100% of IntelliSmart's equity from NIIF and EESL, along with the redemption of optionally convertible debentures held by NIIF, expanding AESL's presence in the smart metering business.

The Reserve Bank of India conducted its 625th Central Board meeting under Governor Sanjay Malhotra. The board reviewed economic conditions and potential risks facing Indias economy while evaluating the Deposit Insurance and Credit Guarantee Corporations activities. Additionally, the board members participated in the Integrity Pledge as part of Vigilance Week 2026. Deputy Governors and other board members contributed to the discussions during the meeting.

The country received $113.029 billion under this head during the three months while it paid $59.637 billion, the data showed. September saw the biggest surplus at $19.208 billion while it was $17.647 billion and $16.537 billion in July and August respectively.

India's population census will be conducted from January 25 to February 28, 2027, with March 1 designated as the reference date. Self-enumeration will be available from January 10 to 24, ahead of house-to-house counting. Certain poll-going states and snow-bound regions have been excluded from the announced schedule.

Reliance Retail Q2 Results: The company's gross revenue increased 6.4% YoY to Rs 91,716 crore in Q2FY27, compared with Rs 86,169 crore in the year-ago period. The growth came despite the absence of major festive occasions during the quarter, with the festive calendar shifting to the December quarter.

Reliance Industries has approved plans to raise up to Rs 15,000 crore through non-convertible debentures via private placement. The fundraising announcement came with the company's Q2 earnings where it reported a 41% year-on-year rise in net profit to Rs 25,548 crore.

Reliance Industries Q2 Results: Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a 41% year-on-year (YoY) growth in consolidated net profit to Rs 25,548 crore for the September quarter of FY27, compared with Rs 18,165 crore in the corresponding period last year.

Centre on Friday constituted a six-member High Level Committee on Banking for Viksit Bharat to review India's banking sector and recommend structural, regulatory and institutional reforms to prepare it for the country's development goals by 2047.The committee will be chaired by Suresh N. Patel, former Central Vigilance Commissioner, and will include Reserve Bank of India (RBI) Deputy Governor Shirish Chandra Murmu, former Indian Bank MD and CEO Padmaja Chunduru, and former RBI Deputy Governor N

Jio Q2 Results: Jios profit growth was supported by healthy subscriber additions, expansion in its digital services business and a marginal rise in average revenue per user (ARPU).

The Nasdaq opened at its lowest level in more than two months on Friday, after Amazon's aggressive AI spending plan and Intel's cash burn warning intensified investor concerns about

India's trade agreements are expected to provide exporters preferential access to markets with a combined GDP of $85 trillion, covering 76% of the global economy, Commerce Minister Piyush Goyal said. He urged businesses to expand internationally, improve product quality and build global brands as India pursues additional trade pacts.

NTPC Green Energy reported a 56.2% year-on-year rise in Q2FY27 net profit to Rs 137.5 crore, driven by 53.2% revenue growth. EBITDA margins improved, while new solar capacity boosted its operational renewable energy portfolio.

More than 200 taxpayers and industry representatives participated in an outreach programme with CBIC leadership. The engagement aimed to discuss implementation of reforms from the 57th GST Council meeting. Key reforms include a higher threshold for criminal prosecution and improved processes for tax refunds and registration. This initiative underscores the Finance Ministry's commitment to transparency and stakeholder engagement. The implemented reforms are set to take effect from April 1, 2027.

Several US stocks offer dividend yields exceeding 10%, led by mortgage REITs Annaly Capital Management and AGNC Investment above 16%. However, significant share-price declines highlight risks surrounding dividend sustainability, payout ratios, debt and overall investment returns.

Binance hack: Hackers linked to North Korea are the main suspects in the theft of about $6.36 billion from Binance, the worlds largest crypto exchange. US blockchain analysis firm TRM Labs says the group is TraderTraitor, which it calls North Koreas elite hacking unit. Binance has not confirmed this yet.Who is behind the Binance hack?TRM Labs published its findings on Thursday. It says the attacker moved about $6.36 billion out of Binance wallets across ten blockchains, most of it in around 20 m

Private equity and venture capital investments in India saw significant growth in September 2026. The total investment reached USD 7 billion, marking a substantial increase from August. Large-value deals accounted for 76% of the total investments during the July-September quarter. Despite this growth, the number of deals declined compared to last year. Investors are expected to remain cautious amid economic challenges and inflation pressures.

Bank credit expanded 17.94 per cent year-on-year to reach Rs 232.54 lakh crore for the period ending October 15, exceeding the 16.6 per cent deposit growth rate, according to Reserve Bank of India (RBI) figures released Friday.Data reveals bank deposits rose to Rs 284.37 lakh crore by October 15, 2026, up from Rs 243.88 lakh crore on October 17, 2025marking a 16.60 per cent annual increase.Reserve Bank of India (RBI) records indicate bank credit climbed to Rs 232.54 lakh crore as of October 15,

Indian government bonds ended October with losses, marking a fourth consecutive decline in bond yields. Brent crude oil prices surged, raising inflation concerns for the country. The Reserve Bank of India raised its policy rate for the first time in nearly four years this month. Foreign investments in Indian bonds fell to a four-month low, causing further concerns about the rupee's performance.