The Economic Times News

U.S. weather forecast: In the West, while California experiences a lull in rain on Friday, sporadic rain will extend from that state to Washington, Utah, Idaho and western Montana.

Oregon Ducks joined Miami a winner over Ohio State in the Cotton Bowl on Wednesday to make up half the field for the semifinals on January 8-9.

Chief Justice John Roberts' letter on Wednesday comes after a year in which legal scholars and Democrats raised fears of a possible constitutional crisis as Republican President Donald Trumps supporters pushed back against rulings that slowed his far-reaching conservative agenda.

The IRS has confirmed a new nationwide tax deduction that could save car buyers up to $10,000 in 2026. The rule covers interest on new, American-made vehicle loans. It applies even with the standard deduction. The policy runs through 2028. Eligibility details, reporting rules, and timing matter. Heres how it works and who benefits most.

Wealth quote of the day by SoftBank CEO Masayoshi Son Life is short. I will regret if I dont act boldly when I am young. The greatest risk is not taking any risk at all. In the high-stakes world of global finance, Masayoshi Son remains the ultimate disruptor. As of early 2026, the SoftBank founder has moved his firm into otal offense mode. He argues that the world is transitioning from simple automation to Artificial Super Intelligence (ASI). This shift is expected to create a wealth gap unlike

The amendments also clarify that the prohibition on creating encumbrance or charge on assets backing policyholders' liabilities will not apply to repo, reverse repo and securities lending transactions, providing insurers greater operational flexibility in managing liquidity.

Cigarette prices in India are set to rise by up to 20% from February due to a sharp increase in excise duty, hitting premium large sticks the hardest. Entry-level cigarettes priced at 10-20 may disappear, affecting sales volumes for the next two to three quarters. The Tobacco Institute of India warned the hike would hurt over 40 million farmers, MSMEs, retailers, and local supply chains, while boosting illicit trade.

During a review meeting with chief executives of leading housing finance companies (HFCs) last week, the NHB chief said disbursements were ot up to the mark and urged lenders to sharpen their focus on the programme, officials familiar with the discussions said.

Electric vehicles have moved beyond being seen simply as cars and have become caught in political and cultural debates, especially in the United States. Supporters view EVs as tools to fight climate change and boost industry competitiveness, while critics see them as symbols of government pressure and ideological overreach, a divide sharpened by Elon Musks public commentary.

This move by streamers reflects their sharp focus on profitability after having paid irrational prices for films to expand their libraries, materially impacting profitability.

State-run banks led the increase, raising lending rates by 16 bps month-on-month to 8.05%, while rates at private banks remained unchanged at 9.44%. Foreign banks, meanwhile, lowered lending rates by 6 bps to 8.18% from 8.24% in October.

The Ministry of Information and Broadcasting has approved Arugn Technologies proposal to acquire AION Capitals stake in teleport operator Planetcast Media, paving the way for a change in ownership at the broadcast services firm. Arugn Technologies is a special purpose vehicle of Planetcast promoters Lallit Jain and Mahendra Nath Vyas.

Rishabh Pant's inconsistent form and lack of recent ODI opportunities raise questions about his place in the upcoming New Zealand series squad. Despite his potential, selectors face a dilemma with other in-form wicketkeepers and batsmen vying for spots, while bowling combinations are also being considered.

In India, the dynamics of real estate financing have taken a new turn. Funding has become more methodical, compelling developers to raise substantial equity before engaging in projects. The release of funds is tightly aligned with the achievement of defined project benchmarks, and banks are adopting a more discerning approach.

Aviation Turbine Fuel (ATF) prices saw a 7.3% reduction, while commercial LPG rates increased by 111 per cylinder. These revisions align with global fuel benchmarks. The ATF price cut aims to ease pressure on airlines, which rely heavily on fuel costs, while domestic LPG prices remain unchanged.

Gross revenue from domestic transactions rose 1.2% to over 1.22 lakh crore, official data published Thursday showed, while revenues from imported goods climbed about a fifth to 51,977 crore during December.

In December, fuel demand experienced an unprecedented upswing, eclipsing annual averages. Diesel saw a remarkable boost, complemented by notable increases in petrol and LPG use, highlighting a vibrant economic pulse.

The Congress ended another year marked by election defeats in Delhi and Bihar, adding to earlier losses in Haryana and Maharashtra, and deepening concerns within the party despite a partial recovery in the 2024 Lok Sabha polls. More than the results, many party insiders are worried about what they see as a steady transformation of Congress under Rahul Gandhi, driven by shifting political positions and the growing influence of outsiders and new advisers.

A nationwide campaign, Your Money, Your Right, successfully returned approximately 4,200 crore in unclaimed financial assets to their rightful owners. The three-month initiative, concluding in December 2025, organized camps in 748 districts to ensure citizens reclaim what is rightfully theirs and strengthen institutional mechanisms for timely restitution.

About 18.44 million people sought the typically unskilled work under the MGNREGS in December, down 28.4% from 25.77 million a year earlier. In November, however, only 14.66 million people had demanded work.

John Foster has officially transitioned from a fan-favorite reality star to a national country music standout. After finishing as the runner-up on Season 23 of American Idol in May 2025, the 19-year-old singer-songwriter from Addis, Louisiana, kicked off 2026 on one of the world's most prestigious stages. On January 1, 2026, Foster headlined the Explore Louisiana mid-parade performance at the 137th Rose Parade in Pasadena, California.

India is set to make high-level leader meetings a central part of its foreign policy this year, beginning with the India-EU summit in New Delhi during the Republic Day celebrations. The summit could see the signing of the long-pending free trade agreement and will be followed by the AI Impact summit in February, which India sees as a platform to shape the Global Souths agenda.

Prime Minister Narendra Modi stated the Congress-led UDF and CPI(M)-led LDF alliance in Kerala will soon end. He predicted a bright future for the BJP in the state. Modi praised BJP workers for their historic performance in Thiruvananthapuram's local body polls. He believes the people of Kerala are ready for a new dawn with the BJP-NDA.

Local body elections are scheduled for this year in Karnataka. This includes polls for five new corporations in Bengaluru. Deputy Chief Minister D K Shivakumar confirmed the decision. The ruling Congress is confident after recent successes. Applications for tickets are being accepted until January 15. Funds from form sales will support party offices statewide.

Mumbai civic polls are witnessing a polarization of voters along religious and regional lines. Parties are targeting North Indian and Gujarati communities to consolidate Marathi votes, while also appealing to minority groups. The BJP's slogan 'Batenge toh Katenge' is being used to evoke Hindutva and counter appeasement claims.

Assam will expedite the expulsion of declared foreigners. Chief Minister Himanta Biswa Sarma stated that individuals identified by Foreigner Tribunals will be deported within seven days. This policy aims to prevent appeals to higher courts. The state government is committed to addressing illegal immigration. This initiative marks a significant shift in dealing with foreign nationals residing in Assam.

Germany said last August that it would deliver two Patriot systems to Ukraine after reaching an agreement with the U.S. that Berlin would be first in line to receive the latest systems in return.

India's export horizons are expanding rapidly, with projections hitting $840-850 billion in FY26 and climbing to $950 billion in FY27. The fostering of free trade agreements, particularly with nations in West Asia, alongside robust growth in sectors like services and electronics, are pivotal to this surge.

Under the previous Awami League regime, Hindus in Bangladesh experienced relentless discrimination. The president of the Bangladesh Minority Janata Party emphasizes the urgency of increased political representation to ensure the survival of the Hindu community. He calls on India to expand its diplomatic efforts beyond merely supporting the Awami League.

Assam's government is urging tea estate owners to cooperate in granting land rights to workers, threatening to withdraw 150 crore in annual incentives for non-compliance. The new law, assented by the Governor, aims to rectify historical injustices by providing land pattas to generations of tea garden families residing in labour lines.

The Army has recovered a consignment suspected to have been dropped by a drone along the Indo-Pakistan border in Poonch district of Jammu and Kashmir. The recovery was made early Thursday in the Chakkan da Bagh area, where a bag containing ammunition and a suspected improvised explosive device was found.

Russia deliberately brings war into the New Year-launching more than two hundred attack drones against Ukraine overnight, Zelensky said on social media, adding that the argets were our energy infrastructure. Earlier, Zelenskyy, during his New Year's Eve address late on Wednesday, said that his country was 10% away from an agreement to end the war with Russia.

Up to 25 million American children may receive $250 through Trump Accounts backed by a $6.25 billion Michael Dell donation. The savings plan is tax-deferred and income-based. Some families may also qualify for $1,000 Treasury seed money. Accounts open in July 2026, with eligibility tied to age, ZIP-code income limits, and IRS filing requirements.

The National Financial Reporting Authority has issued a new toolkit to help small and medium accounting firms better assess risks of material misstatement in company audits, particularly at the revenue level. The regulator said the toolkit provides adaptable sample documents that can be tailored to different audit engagements.

China faces a demographic crisis ten years after ending its one-child policy. Birth rates remain low, and the population is aging rapidly. Despite incentives, government attempts to boost births, including a new tax on contraceptives, are met with public skepticism and concern.

Apples iPhone 17 Pro Max gets a Rs 11,000+ discount ahead of New Year. Available at Rs 1,38,490 with extra Rs 4,000 off on select cards. Features A19 Pro chip, triple 48MP cameras, 6.9-inch OLED display, and fast charging.

President Trump defended his health in an interview, revealing he underwent a CT scan, not an MRI, during an October examination. He expressed regret over the advanced imaging, stating it fueled public speculation about his health. Trump also addressed concerns about his energy levels and physical appearance, attributing them to genetics and common age-related conditions.

Pakistan has expressed serious concerns over India's reported plans for a new hydropower project on the Chenab River. Islamabad stated that India cannot misuse its water allowance under the Indus Waters Treaty. Pakistan has sought clarification from India regarding the project's details. The treaty governs water distribution between the two nations.

Pernod Ricard India has once again emerged as the country's top alcoholic beverage maker by value for FY25. The company's consolidated sales reached Rs 27,445.80 crore. This places it ahead of Diageo India, whose revenue from operations stood at Rs 27,276 crore. United Breweries Ltd followed with Rs 19,444.44 crore in consolidated income.

The corporate affairs ministry has eased compliance norms for company directors by allowing them to file know-your-customer details once every three years instead of annually, with the change effective from March 31. Directors who have already completed their latest KYC will now need to file again only by June 30, 2028, while those who have not complied must reactivate their director identification numbers by March 31.

Flexible workspace operators are strategically partnering with Global Capability Centers (GCCs) to facilitate their expansion into India. GCCs require significant office space by 2030, with flex spaces poised to capture a substantial portion. These operators are offering comprehensive solutions beyond just desks, acting as extended operational teams to ensure speed-to-market and seamless execution for entering firms.

Sapphire Foods India said it will merge with Devyani International, a move expected to consolidate local franchise partners of Yum Brands, which owns KFC and Pizza Hut. The companies said the proposed merger is subject to approvals from regulators, stock exchanges, the Competition Commission of India, the National Company Law Tribunal, and shareholders and creditors.

Donald Trump delayed higher tariffs on furniture and home goods for one year. The move keeps current taxes but pauses bigger increases. The decision is linked to ongoing trade talks and legal challenges. For now, shoppers may avoid sudden price hikes, but future costs will depend on trade deals, court rulings, and new tariff plans.

Justin Timberlake and Jessica Biels marriage is reportedly under strain, with friends concerned that the relationship is no longer healthy. Sources cite that the pair has been living mostly separate lives, with Biel concentrating on work,companions, and her children, while Timberlake focuses on rebuilding trust after previous mistakes. Public controversies, that includes Timberlakes 2019 apology and 2024 DWI arrest, remain to affect the relationship.

Hero MotoCorp saw a significant 40 percent jump in wholesales for December 2025. The company sold 4,56,479 units compared to 3,24,906 units in December 2024. This growth was fueled by strong domestic demand, new product launches, and excellent performance in both its ICE and EV scooter segments. Motorcycle sales also saw a substantial rise, contributing to the overall positive results.

The total two-wheeler sales grew by 48 per cent at 4,61,071 units last month compared to 3,12,002 units in December 2024, the company said in a statement.

Maruti Suzuki India said it will soon decide whether to raise prices of its small cars, after cutting rates last year beyond the GST 2.0 benefit to boost motorisation. The company had reduced prices of entry-level models such as S-Presso, Alto K10, Celerio and Wagon-R in September 2025.

In a regulatory filing on Thursday, HUDCO informed that the company has achieved loan sanctions of Rs 1,39,151.92 crore during the April-December period of the current fiscal year.

Local body elections will be held across Karnataka this year. This includes polls for five new corporations in Bengaluru. Deputy Chief Minister DK Shivakumar announced the decision. Ticket aspirants are asked to apply by January 15. Funds from applications will build party offices. Elections for Zilla and Taluk Panchayats are also expected soon.