The Economic Times

Samuel Taylor Coleridge, an English poet and philosopher, offered a timeless insight. He stated that uncommon common sense is wisdom. This idea remains relevant today, challenging the notion that intelligence alone equates to wisdom. Coleridge believed wisdom stems from applying ordinary truths with exceptional clarity and balance.

Irish proverb of the day: An Irish saying highlights that both youth and age hold distinct value, with youth being noble for its energy and innovation, and age being honorable for its earned wisdom and experience. This balance between generations is crucial for societal growth, fostering mutual respect and a shared journey through life's continuous stages.

African proverb of the day highlights the Swahili saying The laughter of a woman is the light of a home. The proverb explains happiness, family unity, peace, prosperity, emotional support, companionship, and shared responsibility. It teaches that a house becomes a home through relationships and daily connection. The message shows cultural wisdom, modern relevance, and lessons about family life, stability, appreciation, and emotional wellbeing.

Starbucks layoffs 2026: Starbucks is cutting 300 US corporate jobs and closing regional support offices. This move is part of a broader turnaround strategy aimed at profitable growth. The company expects 400 million dollars in restructuring charges. These job cuts do not affect coffeehouse employees. This is the third round of layoffs under CEO Brian Niccol. US sales show signs of recovery.

Mankind Pharma announced a significant 30 percent profit increase for the fourth quarter. This growth was fueled by strong demand for chronic therapies and consumer healthcare products. The company's domestic formulations business is showing a revival. Improved sales execution and the successful integration of Bharat Serums and Vaccines contributed to this positive performance.

Zee Entertainment Enterprises has reported a net loss for the March quarter. The company also fell short of its FY26 profitability target. Weak advertising demand and increased investments in growth businesses impacted earnings. One-time accounting charges also played a role. Adjusted EBITDA margins saw a significant contraction year-on-year.

Tata Steel UK has received a special exemption from US tariffs. This allows steel processed in Britain to be exported to America at a lower duty rate. The exemption applies even though the raw materials are sourced from overseas. This arrangement is in place as Tata Steel UK transitions to new electric-arc furnace production at its Port Talbot plant.

Novelis anticipates a greater impact on its cash flows due to fires at its Oswego unit. The company will, however, restart the hot mill ahead of schedule. Higher savings are expected from cost-reduction initiatives in the medium term. The net loss for the quarter was 84 million dollars. Rolled product shipments fell 12 percent year-on-year.

India's economic growth is projected to slow in the fourth quarter of fiscal year 2026. ICRA forecasts a 7% growth rate, down from the previous quarter. This slowdown is attributed to weaker industrial and services sector expansion. Agriculture is expected to see a slight improvement. ICRA also anticipates a full fiscal year 2026 GDP growth of 7.5%.

Delhi-NCR is set to receive a major transport upgrade. Over 34,000 crore will be invested in new highway projects. These include expressways, ring roads, tunnels, and elevated corridors. The government aims to create a modern and future-ready transport network. This initiative will boost connectivity, reduce fuel use, and promote economic growth in the region.

Indian cement companies are taking different paths on spending. Some, like Ultratech Cement, Dalmia Bharat, and Nuvoco Vistas, are increasing investments for expansion. Others, including Ambuja Cement and Shree Cement, are slowing down their capital expenditure. This divergence reflects varied growth strategies in the Indian market. The focus remains on India's long-term development drivers.

Top Indian fertiliser firms have united to buy a large quantity of sulphur. This critical raw material is needed for phosphatic fertilisers. The collective move signals preparedness for ongoing global supply disruptions and rising prices. India relies heavily on imports for key fertilisers and their components.

Indian insurers are opposing new rules for executive pay. The regulator wants to link compensation to customer service, not just profits. Insurers argue a one-size-fits-all approach won't work for all companies. They seek flexibility in setting performance goals. This comes amid increased scrutiny of claims and customer service.

India's economic growth is projected to slow to 6.7% in 2026-27. Higher crude oil and food prices, along with West Asia conflict uncertainty, will impact growth. A potential El Nino event could also affect agriculture. India Ratings and Research (Ind-Ra) made this projection. Inflation is expected to be 4.4% in 2026-27.

The Reserve Bank of India is proposing new rules for banks. These rules will standardize how banks report their capital strength. This applies to all banks, including foreign ones. The goal is to make it easier for people to understand and compare bank performance. Banks will need to use specific formats and report figures in rupees crore.

Google unveiled a suite of new Gemini AI tools at its I/O conference, including Gemini 3.5 Flash, Gemini Spark, and Gemini Omni. These advancements aim to make AI faster, cheaper, and more personal, positioning Google to compete with rivals like OpenAI and Anthropic by transforming AI into a constant digital assistant.

India's electricity demand has hit an all-time high of 260.5 gigawatts. This record was set on Tuesday as heat waves gripped the nation. The demand is rising sharply even before the peak summer months. This surge underscores the growing need for electricity. The government is prepared for higher demand.

The CDSCO has advised state drug controllers to prevent drug scarcity during the AIOCD's proposed e-pharmacy strike on May 20. Measures include ensuring pharmacies remain open, coordinating with police, and negotiating to keep some shops operational to avoid medicine deserts. The government emphasizes uninterrupted public access to medicines as a top priority.

India and Italy are shaping an Indo-Mediterranean partnership focused on trade, AI, defence, clean energy and connectivity, with Narendra Modi and Giorgia Meloni pitching a shared vision for a changing global order.

Bharti Airtel is enhancing its network for post-paid customers. The telecom giant will use standalone 5G technology and network slicing. This allows for multiple virtual networks on one physical infrastructure. Each virtual network will be customized for specific needs like speed or latency. This priority service will be rolled out to existing post-paid users.

Google is expanding its Android XR platform, developed with Samsung and Qualcomm, by placing Gemini at the center of new wearable glasses designed for hands-free, real-time assistance. Unveiled at Google I/O 2026, the lineup includes audio glasses for spoken guidance and display glasses that project visual information directly into the users field of view.

Smartphone companies are renaming old budget phones and increasing prices. This is due to rising component costs and currency fluctuations. Core specifications remain largely the same with minor changes. Some models even see downgrades. This strategy aims to offset losses and maintain profitability. Higher-end phones are prioritized for new technology. Smartphone shipments are expected to decline.

India's Commerce Minister Piyush Goyal urges businesses to boost productivity and embrace global challenges as opportunities. He advises against worrying about imports or West Asia crises. The minister emphasizes reducing waste and adopting global best practices. India aims for $1 trillion in annual exports, leveraging Free Trade Agreements to attract investment and increase outbound shipments.

Reliance Industries will invest Rs 2 lakh crore to develop 7,200 MW of nuclear capacity. Adani Power has outlined Rs 1.5 lakh crore for 6,000 MW projects, while state-run NTPC will invest Rs 1 lakh crore in building 7,200 MW capacity. Lalitpur Power Generation Company, part of the Bajaj Group, will invest Rs 2 lakh crore for 5,000 MW capacity, according to a Maharashtra government statement.

Google has introduced Gemini Omni, a new multimodal AI model designed to transform video creation and editing using advanced generative capabilities. Building on its earlier Nano Banana image tools, Omni extends similar functionality to video, allowing users to generate and edit clips through simple conversational prompts instead of traditional editing software.

Banks have asked the Reserve Bank of India to relax new lending rules for Infrastructure Investment Trusts. The proposed three-year operational track record requirement could delay infrastructure monetisation and new project funding. Lenders prefer asset quality over trust age for financing eligibility. This change aims to ensure smoother fund recycling and attract global investors for new infrastructure projects.

India's next bullet train will reach speeds of 350 kmph. Design work starts in six months. Indian Railways will also boost domestic cargo movement by rail. This aims to lower fuel consumption. Reforms will simplify norms for container transport. Cement, automobile, and salt loading have seen growth. Fly ash transit reforms are next. Passenger travel efforts are also underway.

The rapidly growing trade and investment have not only contributed to India's growth story, but also played a positive role in the economies of the Nordic countries and created thousands of jobs, the PM noted.

India is set to boost E100 flex fuel availability with 5,000 dispensing stations planned within two years. This initiative aims to significantly cut crude oil imports. Automobile and oil companies are collaborating on this roadmap. The government's plan includes phased rollout of E100 pumps across major cities, paving the way for flex fuel vehicles.

The Supreme Court has directed the Delhi High Court to review SpiceJet's request. SpiceJet sought to submit property deeds instead of depositing 144 crore. This reconsideration comes after the government announced an emergency credit scheme for airlines. SpiceJet hopes to benefit from this scheme to meet its financial obligations.

US firm I Squared Capital is investing one billion dollars in India's power transmission sector. A new entity, Cube Grid, will build essential grid infrastructure. This move taps into a multi-decade opportunity driven by India's growing energy needs. The company sees stable, long-term returns from transmission projects. This investment will support India's economic growth and energy transition.

New rules for Citizenship Amendment Act applicants are now in effect. The Union home ministry has updated the regulations. Applicants must now declare the status of any foreign passports they hold. This change addresses cases where applicants possessed foreign passports. Indian law prohibits dual citizenship. The updated rules ensure compliance with this provision.

UPS Flight 2976 Louisville crash new CCTV footage reveals final moments before aircraft engine catches fire after investigators released surveillance video showing the engine separating during takeoff. The cargo plane crashed seconds after departure from Louisville. Fifteen people died and many were injured. The NTSB held hearings to examine fatigue cracks, maintenance records, FAA actions, and Boeing inspection protocols. The investigation continues and safety recommendations are expected.

Global pharma major Bayer is significantly expanding its consumer healthcare presence in India, targeting the burgeoning self-care market estimated at 40,000 crore. The company is launching new products, including the antacid Alka-Seltzer, and aims to reach 100 million households within four years, positioning India as a top global market.

INOXGFL Group is poised to acquire Vena Energy's Indian renewable energy business. The deal is valued between 4,500-5,000 crore. This move signifies INOXGFL's aggressive expansion in India's clean energy sector. The conglomerate has recently made several strategic acquisitions, bolstering its renewable energy portfolio. This acquisition further strengthens its position in the rapidly growing market.

Rising input costs and freight charges, driven by the West Asia crisis, are pressuring automakers to increase vehicle prices. This surge in expenses, coupled with a depreciating rupee, threatens to derail the strong demand rally seen post-GST cuts. While sales have shown robust growth, companies face a dilemma between absorbing costs or passing them to consumers.

India and UAE are set to boost their partnership through joint investments and improved logistics. The UAE's Minister of Foreign Trade highlighted the importance of private sector collaboration in strategic sectors. This follows recent investment commitments worth nearly $5 billion. Bilateral trade is growing strongly, with a target of $200 billion by 2032.

Several well-known actors launched their careers on reality television before achieving Hollywood stardom. From Emma Stone's quest for a new Partridge Family to Glen Powell's teenage survival challenge, these seven individuals leveraged reality shows as their initial platform. Their experiences, though sometimes intense, proved pivotal in shaping their paths to success.

The Supreme Court has upheld its earlier order preventing the release of vaccinated stray dogs back into public areas like hospitals and schools. Dismissing modification pleas, the bench emphasized citizens' right to safety and free movement, criticizing state authorities for failing to curb dog attacks. Non-compliance by officials risks contempt and disciplinary action.

America has approved two military support packages for India totaling $428 million. These packages will provide sustainment support for frontline M777 ultra-light howitzers and AH-64E Apache attack helicopters. This move strengthens the US-India strategic relationship and enhances India's defense capabilities. The support includes technical assistance, training, and spare parts for both weapon systems.

The Delhi High Court has issued notices to Arvind Kejriwal, Manish Sisodia, Sanjay Singh, and other AAP leaders in a suo motu contempt of court plea. This action stems from alleged defamatory remarks made against Justice Swarana Kanta Sharma. The court will appoint an amicus to assist in the proceedings, with the next hearing scheduled for August 4.

The psychology behind women often appearing more mature than men suggests the explanation goes beyond simple stereotypes. Factors such as brain development, emotional intelligence, gender socialization, and societal expectations all contribute to the perception.

A Colonel from the Army Ordnance Corps has been arrested in a bribery case. He allegedly manipulated tenders and approved substandard samples for a defence supplier. The officer is accused of receiving bribes in exchange for favouring a Kanpur-based firm. He was taken into custody in Kolkata and will be brought to Delhi for questioning. The investigation is ongoing.

Congress has questioned the continued tenure of Arunachal Pradesh Chief Minister Pema Khandu. The Supreme Court had ordered a CBI probe into allegations of corruption against his family. The party highlights that the Chief Minister also holds the PWD portfolio, controlling files crucial for the investigation. This situation is seen as a disregard for the Supreme Court's directive.

Defence Minister Rajnath Singh affirmed India's dedication to Vietnam's defence modernization. Discussions with Vietnam's Deputy PM and Defence Minister General Phan Van Giang focused on strengthening cooperation. Key areas included maritime security, defence industry, and military training. Both nations also exchanged views on regional and global security matters. This visit underscores a deepening bilateral defence partnership.

Tony Robbins quote of the day on success and self-growth is inspiring millions searching for motivation, resilience, and never giving up. The powerful success quote reminds people that slow progress still creates real growth. Every mistake builds wisdom. Every attempt builds confidence. In todays pressure-driven world, the Tony Robbins quote of the day delivers a deeper truth. People who keep trying transform their mindset, emotional strength, and future success long before visible achievements

Union Education Minister Dharmendra Pradhan reviewed NEET-UG re-examination preparations, directing officials to ensure a secure, seamless, and foolproof process. He emphasized addressing all identified gaps from the previous exam to maintain integrity and transparency. Authorities were instructed to coordinate with district magistrates and police for robust monitoring.