The Economic Times News

Social Security checklist 2026: Social Security beneficiaries will receive a 2.8% COLA increase in 2026. Review your earnings record to avoid benefit errors. Confirm tax withholding and update Form W-4V to prevent surprises. Check direct deposit details to ensure timely payments. Keep your mySocialSecurity account current. Small updates now secure higher, uninterrupted benefits in January 2026.

India's defence ministry has approved acquisitions worth seventy-nine thousand crore rupees. The focus is on indigenous long-range weapons and counter-drone systems. This move is informed by lessons from past operations. The navy will also lease two additional MQ9B drones from the US. These acquisitions aim to bolster India's defence capabilities significantly.

India's industrial output saw a significant surge in November, reaching a 25-month high of 6.7% driven by a robust manufacturing rebound. This revival, attributed partly to GST rationalization and festive demand, saw 20 out of 23 industry groups posting growth. While economists see positive signs for consumption, they caution about temporary factors and potential trade barrier impacts.

Government dividend collections from public sector enterprises are poised to exceed targets for a fifth consecutive year, potentially reaching a new high in 2025-26. Despite strong performance and robust inflows, the Centre will likely maintain its initial Rs 69,000 crore dividend projection due to global and domestic uncertainties. This consistent dividend strength has helped offset weaker disinvestment receipts.

The RBI reports a positive near-term economic outlook with low inflation, but warns of global uncertainties and rising cyber-enabled frauds. The banking sector remains resilient with strong buffers and improving asset quality, though concerns exist regarding climate risk and misselling of financial products.

Brigitte Bardot, the legendary French actress and global style icon, died Sunday at age 91. While celebrated for her 1950s cinema roles, her death sparked immediate backlash due to her history of hate speech convictions. Pop star Chappell Roan recently retracted a tribute to the star after learning of Bardot's controversial far-right politics and anti-immigrant rhetoric.

Thought of the day: Renowned psychologist Abraham Maslow's insights on self-actualization offer a powerful message for today's uncertain times. His work emphasizes that true happiness stems from fulfilling one's potential, not just meeting basic needs. Ignoring capabilities leads to dissatisfaction, urging individuals to align daily choices with personal values for lasting fulfillment and well-being.

Americans affected by Watson Clinics data breach can claim up to $75,000. Sensitive patient information, including Social Security numbers, was exposed on the dark web. Payments vary by type of data leaked. Deadlines to claim are February 5, 2026, with opt-out by January 6. Final distributions follow a March 9 approval hearing. Act fast to secure compensation.

D4vd Celeste Rivas murder case: Los Angeles prosecutors are moving closer to a possible indictment of D4vd as a grand jury reviews evidence in the Celeste Rivas murder investigation. Sources say witnesses have testified and key timelines are under scrutiny. No charges are filed yet, but officials believe the case is nearing a decisive legal moment.

Social Security payments December 2025: Millions of Supplemental Security Income (SSI) recipients will receive their January 2026 payment early on December 31 due to the New Year's Day holiday. This early check includes a 2.8% cost-of-living adjustment, increasing individual benefits to $994. Some recipients will get three payments in December due to this early disbursement.

The interstellar object 3I/ATLAS has spotted global attention because of its rotating double jet structure. The majority of the astronomers define it as a comet arriving from another star system. Harvard astrophysicist Avi Loeb indicates that it could be an artificial probe, noting its unusual trajectory, glow, and sunward anti-tail. Hubble Space Telescope pictures show one strong sunward jet and a weaker secondary jet, both moving around the nucleus.

The Reserve Bank of India is reviewing its scale-based regulation for non-bank lenders. This framework categorizes these companies by their systemic importance. The review comes as non-bank lenders play a growing role in credit delivery. Concerns about interconnectedness and risk remain. Upper-layer non-bank lenders hold a significant portion of assets. Their credit footprint is expanding across the economy.

Non-banking financial companies saw their balance sheets expand significantly in FY25, fueled by robust loan growth. While overall asset quality improved, the microfinance sector experienced a sharp rise in bad loans. Profitability for upper-layer NBFCs increased, though overall profits saw a slight dip. Key indicators like capital adequacy remained strong.

Four parties, including the promoter and Germany's Mutares Group, have shown interest in acquiring Syska LED Lights, which has admitted claims of 226 crore. Lenders are scrutinizing bids due to a lack of formal board authorization from one applicant. The resolution process is advanced, with lenders anticipating over 50% recovery.

Spain has a unique New Year tradition where people eat 12 grapes at midnight. Each grape stands for one month of the year and is believed to bring good luck. The custom began long ago and is still widely followed today. Many Spaniards continue this tradition to welcome the new year with hope and positivity.

Smartphones in 2026 will focus on artificial intelligence as a key feature. On-device generative AI capabilities like summarisation and image creation will drive software differentiation. AI-capable phone shipments are expected to grow rapidly in India. Samsung will prioritize privacy and affordability of AI services. Consumers are aware of AI features but concerned about privacy.

India's spirits industry is set for growth driven by premium products and tier-II markets. Consumers are increasingly choosing higher-end spirits. Radico Khaitan is focusing on the prestige and above segment, anticipating significant expansion. This shift is fueled by rising aspirations and younger consumers. The company expects strong performance from this lucrative segment in the coming years.

General George S. Patton Jr., a prominent and controversial World War II commander, was renowned for his aggressive leadership and belief in offensive warfare. He played a decisive role in key Allied victories, including the invasion of Sicily and the Normandy breakout, earning a reputation for speed and bold maneuvers.

White House Press Secretary Karoline Leavitt announced her second pregnancy, prompting speculation about who will fill her role during maternity leave. Despite the demanding position, Leavitt intends to continue her duties. Potential temporary replacements include Tricia McLaughlin, Katie Pavlich, Kellyanne Conway, Laura Ingraham, Monica Crowley, Riley Gaines, and Margo Martin.

India's government is considering a change to its LPG subsidy formula following state-run oil companies' first annual supply contracts with US exporters. Companies are advocating for the inclusion of US benchmark prices and higher transatlantic freight costs in the subsidy calculation to better reflect the economics of these imports.

President Trump warned Iran against rebuilding its nuclear program, stating the U.S. would launch swift and forceful attacks if they proceed. While issuing this threat, Trump also expressed openness to negotiating a much smarter deal with Iran.

Reliance Industries Limited (RIL) has denied a Reuters report claiming the government sought $30 billion in compensation for gas production shortfalls from its KG-D6 block. RIL stated the actual government claim is $247 million, a figure consistently disclosed in its financial statements. The dispute stems from disallowed investment costs and ongoing arbitration proceedings.

Indian banks saw a slight decrease in their market share by March 2025. Foreign banks and smaller lenders gained ground. Bad loans reached a multi-decade low. However, fraud amounts rose significantly due to reclassification. State-run and private banks' shares edged down. Loan growth was strong for state-run banks. Net profits increased, but at a slower pace.

India's aviation industry is bracing for a significant deceleration in growth this fiscal year, as indicated by a new report from Icra. The agency has slashed its forecast to a conservative 0-3%, following a series of troublesome flight cancellations and escalating safety dilemmas. Compounded by a downturn in business travel due to global economic pressures, the future looks challenging.

IndiGo has revised several cockpit crew allowances, including payments for domestic layovers, deadhead travel, night flying and aircraft tail-swaps, with the changes set to take effect from January 1, 2026. Under the new structure, domestic layover allowances for stays between 10 and 24 hours have been raised by 50%, with captains set to receive 3,000 and first officers 1,500.

The Supreme Court has halted the release of expelled BJP leader Kuldeep Singh Sengar. This follows a Delhi High Court order granting him bail in the Unnao rape case. The apex court expressed concern over the High Court's interpretation of 'public servant' under the POCSO Act. The CBI argued the High Court erred in its decision.

Nostradamus, the 16th-century astrologer, foresaw four alarming events for 2026. These include a major war lasting seven months, a mysterious swarm of bees appearing at night, a prominent celebrity struck by lightning during the day, and a grim prediction of bloodshed in Switzerland's Ticino region. His cryptic prophecies continue to spark debate and intrigue about future happenings.

The Supreme Court has put a hold on its earlier orders regarding the Aravalli hills definition. A new expert committee will now study the environmental impact of previous recommendations. This move aims to resolve ambiguities and provide clear guidance on hill definitions. The court will re-examine the matter on January 21, 2026.

Silver prices continued their record-setting rally for the fifth consecutive day, surging by 3,650 to 2,40,000 per kg due to persistent trader buying. This marks a significant 167.55% increase year-to-date. Meanwhile, gold of 99.9% purity saw a slight retreat, declining 500 to 1,41,800 per 10 grams as traders booked profits amid international market volatility.

Youth groups in Agartala held a candlelight march protesting the death of Tripura student Angel Chakma in Dehradun. Uttarakhand CM Dhami assured justice, stating five accused are arrested, with one believed to have fled to Nepal. Rahul Gandhi condemned the incident as a horrific hate crime normalized by the BJP.

U.S. Stock market today: The Dow Jones Industrial Average dropped 282 points, or 0.58%, to 48,428. The S&P 500 slid 0.47% to 6,897. The Nasdaq Composite led losses, falling 0.65% to 23,439. Silver prices plummeted 8% after a parabolic run to $80 per ounce. Gold futures also tumbled more than 4%, falling toward the $4,300 level.

Jammu and Kashmir faced a grim 2025 with terror attacks and an India-Pakistan clash shattering peace hopes. Foreign militants pose a significant threat, while local recruitment is controlled. Economic woes, particularly in tourism and horticulture, persist. Political disillusionment is rife, with promises of statehood unfulfilled and a power struggle evident.

India and Bahrain are moving forward with trade talks. Draft terms for a Comprehensive Economic Partnership Agreement have been exchanged. A joint working group is being established. India is also in discussions with the GCC for a free trade pact, with terms for Qatar substantially finalized. These agreements aim to boost Indian exports and diversify trade routes.

A State Bank of India report indicates states will be net gainers of approximately 17,000 crore under the new rural employment law, the VB-G RAM G Act, replacing MGNREGA. The new legislation shifts to a normative funding model, with most states projected to benefit, except for Tamil Nadu and Andhra Pradesh which may see minimal losses.

Union Budget, 2026: Prime Minister Narendra Modi will meet economists and sectoral experts on Tuesday. They will discuss suggestions for the upcoming Union Budget. The focus will be on achieving Atmanirbharta and transforming India into a Viksit Bharat by 2047. Discussions will cover boosting exports, generating employment, attracting investments, and enhancing skill development. The Union Budget for 2026-27 is expected on February 1.

Australia will eliminate tariffs on all Indian exports starting January 1, 2026, a move expected to boost labor-intensive sectors. This development follows a significant increase in India's exports to Australia, which grew by 8% in 2024-25, underscoring the success of the India-Australia Economic Cooperation & Trade Agreement (ECTA).

Choosing the right order to take money from 401(k), pension, and Social Security can save taxes and make retirement easier. Your plan should match your goals, like enjoying life early or leaving money for family. Work with a financial advisor, sequence withdrawals smartly, and use Roth conversions to protect your savings for a long and stress-free retirement.

A bus collided with people in Mumbai's Bhandup West area on Monday, injuring at least five people as the BEST vehicle was reversing, officials said.

Hamas's armed wing reiterated on Monday that it would not surrender its weapons, a key issue expected to feature in talks later in the day between US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. The statement came just hours before Trump and Netanyahu were scheduled to meet in Florida.

The Indian government will borrow Rs 3.84 lakh crore through treasury bills in the fourth quarter of the current financial year. This borrowing aims to meet short-term funding needs. Weekly auctions will range from Rs 29,000 crore to Rs 35,000 crore. This amount is lower than the previous year's borrowing for the same period.

A throwaway remark last week by President Donald Trump has raised questions about whether US forces may have carried their first land strike against drug cartels in Venezuela. Trump has been saying for weeks that the United States will soon start carrying out land strikes targeting drug cartels in Latin America, but there have been no confirmed attacks to date.

RBI data reveals a shift in banking employment. Private sector banks reduced their workforce in FY25. Conversely, government-owned banks and small finance banks expanded their staff numbers. This growth, particularly from small finance banks, drove the overall increase in banking system employees. Major lenders like SBI added staff, while ICICI Bank saw a significant reduction.

Millions of Americans will observe three new public holidays in 2026, including Asian Lunar New Year, Eid al-Adha, and Diwali. While these additions recognize cultural diversity and offer more days off, they may present childcare challenges for parents. Several states and cities are implementing these holidays, with some offering school closures and paid time off.

Reliance Industries Limited has refuted a media report alleging the government sought $30 billion from the company and BP over KG-D6 gas block underproduction. RIL clarified that the actual government claim is approximately $247 million, a figure consistently disclosed in its financial statements.