The Economic Times

Biocon announced a settlement with Genentech over its biosimilar, Pebrilzo, of the cancer drug Perjeta. The agreement allows Biocon to launch Pebrilzo in early 2027 in the UK and EU, and in late 2028 in the US. In response to Genentech's patent infringement suit, the New Jersey court dismissed the case at Genentech's request. The details of the settlement agreement remain confidential between the companies involved.

Radisson Hotel Group anticipates its revenue in India to surpass 500 million Euros this year and aims for over 750 million Euros in the next four years. The chain currently operates 146 hotels in India, significantly below its 318 hotels in China, making India its second largest market. The company plans to expand without consolidating with Jin Jiang brands in India while partnering with Sarovar Hotels.

Jio Platforms will begin subscriptions for its IPO on October 21 and it will conclude on October 23. The record-breaking IPO could see valuation exceed Rs 10 lakh crore.. This IPO forms part of Jio's broader strategy to lower its debt and advance corporate goals. How the company navigates this phase will impact where it goes from here.

Hayden Panettiere was discovered unresponsive in her South Carolina apartment, leading to a frantic 911 call captured on audio. Emergency responders struggled to revive her, and an ongoing investigation revealed her death resulted from an accidental overdose of fentanyl alongside other substances. Her boyfriend's brother reported finding her unconscious after their night together, prompting local authorities to delve deeper into the circumstances surrounding her tragic passing.

Physical AI is taking artificial intelligence beyond software and into factories, hospitals and other real-world environments. Computer vision, spatial systems, robotics and edge computing are enabling machines to interpret and respond to their surroundings. For enterprises, scaling these capabilities depends on reliable infrastructure, safety, integration and clear operational value.

Police arrested 19-year-old Alexandros Paporakis for allegedly planning a mass shooting at a Hindu Temple. Investigations revealed he communicated threats and shared a detailed document about the attack. Law enforcement recovered a rifle, ammunition, and tactical equipment in his residence. The FBI noted the extremist ideologies expressed in his writings targeting individuals of South Asian heritage. The prompt action of local police contributed to preventing potential violence in the community.

US stock Market today: Much of Wall Streets pain on Wednesday was due to drops for companies riding the AI frenzy to huge profit growth and stellar stock gains.

San Francisco Federal Reserve President Mary Daly indicated that further adjustments to interest rates might be necessary to address inflation. She emphasized that the Fed does not feel urgency for immediate action in the upcoming meeting. Daly highlighted the stability of the labor market, which offers some flexibility for monetary policy decisions. Financial markets are reflecting a range of expectations regarding potential rate hikes in the near term.

The head of the International Monetary Fund highlights the urgent need to address global debt levels. Rising interest rates and inflation have created burdens on low-income countries, with many unable to finance their needs. The median developing country is paying significantly more in interest compared to developed nations, affecting government budgets. Job creation and investment initiatives are crucial for the upcoming workforce, especially as artificial intelligence advances.

Delhi Police detained several opposition leaders and Ankita Bhandari's parents during a protest at India Gate. Congress leaders criticized the police action as an attack on democratic freedoms and justice. The protestors demanded the cancellation of Dushyant Gautam's recent appointment as Sikkim Governor. Family members of Ankita Bhandari expressed their discontent over political appointments amidst ongoing investigations. The situation reflects ongoing tensions surrounding the quest for justice

A woman reported being sexually assaulted at a fraternity party near the University of Chicago campus. Police are investigating the allegations during a time of heightened awareness about campus sexual violence. The perpetrator allegedly fled after being confronted by another party attendee, and university officials are seeking more information. The fraternity involved stated that no members participated in the incident or encouraged the behavior.

Cornell University President Michael Kotlikoff confronted faculty frustration regarding his administration's handling of a serious sexual assault allegation. During a Faculty Senate meeting, faculty members expressed significant anger and questioned Kotlikoff's management of the incident. Faculty are considering a no-confidence resolution to signal their dissatisfaction with administration transparency and reforms. As the administration has faced a lawsuit related to the case, many faculty urge

Katie Zacharia, the new White House press secretary, is facing questions about her legal credentials and background. Although she claims to be a lawyer, there is no evidence she has passed any bar exam. The White House has defended her, stating she is uniquely qualified for her role. Concerns have been raised about her misrepresentation of legal status which may violate California law.

Houthi rebels reportedly targeted the headquarters of Saudi Aramco in Dhahran, inflicting damage on upper floors. Civil defense reports indicate that debris from intercepted strikes caused injuries near Riyadh. The Houthis assert these attacks are retaliation against Saudi aggression in Yemen. Efforts for a ceasefire have gained traction with regional powers seeking negotiations. Rising casualties in Yemen highlight the ongoing humanitarian crisis amid renewed hostilities.

Tata Play is launching the Tata Play Smart app, enabling access to over 500 live television channels. The app requires an internet connection and is compatible with various devices including smart TVs. Tata Play maintains that traditional DTH services will continue to exist alongside streaming services. The company aims to expand its user base by attracting households yet to subscribe to pay television.

Novo Holdings and GIC are discussing investing Rs 2,000-2,500 crore in AIG Hospitals based in Hyderabad. The investment reflects a growing interest among private equity firms in Indian healthcare. Founders of AIG Hospitals, Duvvur Nageshwar Reddy and Penmetsa Venkata Subbaraju, are planning a stake sale. AIG Hospitals has plans for a new facility in Visakhapatnam and aims to grow significantly.

Fairfax Financial Holdings will acquire a majority stake of 60.72% in IDBI Bank for 52,878 crore. This acquisition marks a significant moment in the government's divestment efforts, as it represents strategic restructuring. The deal aims to strengthen the banking ecosystem and support the government's disinvestment target for the fiscal year. IDBI Bank's financial position has improved significantly, with reduced non-performing assets.

Salman Khan recently appeared in Karan Johars famous talk show Koffee With Karan, where he addressed whether or not he would ever marry and have kids. He also opened up on his equation with his former leading lady, Karisma Kapoor, with whom he had appeared in many hit films, such as Judwa, Biwi No. 1, etc.

Farmers are likely to decrease rabi sowing due to inadequate rainfall and reduced soil moisture levels. This situation could lead to lower yields of critical crops such as wheat, pulses, and oilseeds. Many reservoirs are under pressure, with over half storing less than last year. State and central governments are encouraging farmers to choose crops based on water availability, especially in water-scarce regions.

A quarter of Maharashtra's sugar mills will begin operations this week to alleviate sugar shortages before Diwali. Sugar prices have increased by approximately 4% recently due to dwindling supplies and farmer protests. Millers anticipate new sugar reaching markets after October 20, following crushing activities. Farmers are encouraging quicker harvesting of sugarcane due to crop conditions, leading to lower sugar content.

Cricket endorsements are maintaining their value despite a slowdown in celebrity-led advertising and brand budgets. Advertising spending is shifting towards digital creators as brands seek targeted audiences and measurable engagement. Renowned cricketers like Virat Kohli and MS Dhoni continue to dominate the endorsement market, contributing significantly to its growth. Brands are increasingly viewing creator-led marketing as a strategic investment for achieving specific marketing objectives.

India's smartphone market is experiencing a sharp decline in sales during the festive season. Recent data indicates a 16% year-on-year drop in unit sales, influenced by affordability challenges. Retailers are reporting similar downturns, estimating a 20% decline since the start of Navratri. While premium smartphones remain steady in sales, entry-level models are suffering significant losses. Overall, the industry anticipates further price increases after Diwali, impacting future sales.

Cabinet secretariat has directed the Union health ministry to investigate safety issues related to coronary stents. These concerns were raised by Rajya Sabha member Ajeet Madhavrao Gopchade regarding models withdrawn in Sri Lanka. Gopchade emphasized the need for strengthening India's regulatory framework for coronary stents. He called for improved clinical documentation and robust traceability for implanted stents. His representation highlighted the importance of patient follow-up and monitorin

Agatha Christies powerful quote on a mothers love explores how grief can turn one of the deepest human emotions into a force that defies reason and boundaries. Taken from her 1926 short story The Last Sance, the quote reflects the story of a grieving mother who becomes desperate to reunite with her dead daughter, regardless of the consequences. Best known for her celebrated detective fiction, Christie reveals a darker side of human nature through this supernatural tale.

The power ministry has finalized a national electricity data sharing framework to be launched this month. This initiative aims to provide clarity on data sharing for electricity utilities and startups. A governance committee will help oversee the framework's implementation and ensure data consistency. Stakeholders' feedback on the draft framework was collected earlier this year to refine its structure. The effort supports planning, regulation, and research in the electricity sector.

India's commerce and industry minister Piyush Goyal highlighted ongoing efforts to improve relations with China while maintaining strong ties with the US. He emphasized that partnerships with trusted countries are essential for India's supply chain strategy. Goyal stated that India's economic and geopolitical concerns will shape its international engagement moving forward. The minister also addressed the need for self-sufficiency in critical sectors amid global disruptions.

India's government is preparing a data centre policy to enhance the hyperscale data centre sector. The proposed policy aims to streamline approvals and provide infrastructure status to the industry. A tax holiday until 2047 for eligible foreign cloud providers has also been announced. The use of artificial intelligence can improve power generation efficiency and flexibility for data centres.

The road transport and highways ministry is recommending that states eliminate stamp duties on highways. States argue that linking stamp duty to project type and value could generate substantial revenue. Authorities emphasize that varying stamp duty creates compliance challenges and contractual ambiguity for contracts. Impacts on long-term public-private-partnership projects have raised concerns within the national highway sector.

India has implemented a Principal Purpose Test in the India-Mauritius Double Taxation Avoidance Agreement. This test allows tax authorities to deny benefits when tax relief is a principal purpose. The amendment, effective from August 2026, impacts various foreign investors using Mauritius for investments. The change affects significant cumulative foreign direct investment inflows into India from Mauritius. Experts believe this will alter how investment structures are evaluated under the treaty.

Around 20 financial institutions were affected by cyberattacks earlier this month, with hackers allegedly exploiting stolen partner-bank credentials and vulnerabilities in payment APIs to siphon off funds. Following the attacks, CERT-In issued an advisory urging banks, NBFCs and fintech firms to suspend compromised interfaces, strengthen transaction safeguards and tighten customer verification.

In Maharashtra, insurers' liability could be capped at Rs 1,540 crore before the state government takes over claims beyond that level. The state has declared drought-like conditions in 265 talukas, raising concerns over this year's losses.

Jan Koum moved to the US with his mother when he was 16, and his family relied on food stamps and government assistance to survive. Years later, he built WhatsApp, the messaging app used by people around the world, and sold it to Facebook for $19 billion. But the deal had a deeply personal connection to his past as he chose to sign the agreement at the former social services office where he once collected food stamps.

India's wholesale inflation reached 11.4% in September, significantly increasing from 9.9% in August. Rising prices of fuel, food, and manufactured goods contributed to this surge. Food inflation climbed to 8.7%, marking a 23-month high. Retail inflation also saw an increase, rising to 5.54% year-on-year in September. Economists expect inflation to remain elevated in the coming months due to ongoing global commodity pressures.

Analysts believe this acquisition holds considerable potential, greatly enhancing Fairfax's branch network and deposit portfolio in India, paving the way for a diversified financial ecosystem.

A merger of the two lenders is emerging as the most likely option, potentially allowing the Canadian investor to consolidate its banking interests under a single licence, sources said.

Biocon has finalized a global settlement and license agreement with Genentech for its drug Pebrilzo. This agreement addresses all ongoing legal disputes between the two companies in jurisdictions such as the US and Canada. Under the terms, Biocon can launch Pebrilzo in the EU and UK by early 2027 and in the US by Q3 of 2028. Other global launches are planned between 2026 and 2028, depending on regulatory approvals.

CBDT has launched the SAKSHAM NUDGE campaign aimed at tax professionals to encourage timely filing of tax audit reports. The campaign targets those who filed fewer than 50% of their reports in the previous financial year. Messages were sent via SMS and email, urging quick compliance ahead of the new deadline. The deadline for submitting tax audit reports is extended to October 21, accommodating pending submissions. With over 19.

Hyundai Motor India plans to expand its Talegaon plant to increase production capacity for the domestic market. The company aims to enhance its market share to reclaim the No. 2 position by 2028-29. With an investment of 7,000 crore in Maharashtra, Hyundai is focusing on localization and creating new job opportunities. Furthermore, plans to launch 26 new models are expected to strengthen Hyundai's product portfolio.

Netflix has slashed about six percent of its workforce this has impacted more than 1,000 employees in total. Taking to Reddit, one Reddit user admitted that the recent surge of layoffs at Netflix has left him feeling relieved he had survived and retained his job, but also immensely guilty.

Niti Aayog has released a report urging states to consider data centres as strategic infrastructure. The report suggests a structured approach to developing data centres sustainably. It highlights the need for common standards and guidance from the central government to support growth. Additionally, the report emphasizes the importance of assessing local resources and economic benefits. This framework aims to strengthen India's data-centre sector and its artificial intelligence economy.

NITI Aayog's working paper suggests increasing the social discount rate to 9.23% for project appraisal up to 30 years. This proposal aims to redefine economic viability for a variety of public investment projects in India. The revision has implications for ministries involved in long-term ventures such as infrastructure and energy. The paper also recommends specific rates for projects extending beyond 30 years.

The Delhi Metro Rail Corporation informed the Supreme Court that there was no complete suspension of services during the protests on October 10. Restrictions on entry and exit at 45 stations were implemented at the request of police, yet 258 stations remained operational, and normal train services continued despite a drop in ridership due to the protests.

Bharti Group, with a 17.88% stake, is the second largest shareholder in Eutelsat OneWeb after the French government. The low-Earth orbit (LEO) satellite operator, which competes with Starlink, was the first to seek Indian government approval for starting its services.

Starlink, the satellite communication company owned by Elon Musk, is currently facing regulatory challenges in India. The Indian government requires the establishment of local base stations before granting a service license. Security concerns regarding data transmission and storage have also been raised by Indian authorities. Despite claiming to have invested in necessary infrastructure, compliance with local regulations remains an issue.

India's Ministry of External Affairs has reiterated its call for stability in global energy markets. Concerns were communicated to the US regarding the Sanctioning Russia and Iran Act of 2026. The legislation allows the US to impose tariffs on nations purchasing Russian energy under specific conditions. Additionally, the US announced a significant diesel deal with Russia, which could impact global energy dynamics.

As Ukraine faces significant constraints on the use of Starlink satellite internet amid its ongoing conflict with Russia, military operations are increasingly jeopardized, especially in terms of drone communication effectiveness. With winter approaching, the pressure mounts on air defense systems to address rising Russian drone threats. Ongoing discussions among officials regarding the reasons behind these limitations highlight concerns about the future of U.S.

Hitachi Energy's CEO Andreas Schierenbeck emphasized the importance of strong grid connections for rising electricity demand. He noted that over 500 GW of generation projects in Germany are awaiting grid access. Kirsty Gogan highlighted that India's energy consumption per capita is significantly lower than the OECD average. The country would require an eightfold increase in energy supply to meet average levels.

Although the company has raised prices in the last two quarters, it could not fully offset inflation in major raw materials such as rubber and petroleum-based items. This was reflected in its second-quarter earnings, where profit plunged nearly 40 per cent, and margins fell into single digits.

IIT Kanpur has launched the Greater Than Us campaign aiming to raise $1 billion by March 2029. The campaign has already secured approximately Rs 4,155 crore in commitments from donors. It focuses on three pillars: Foundation, Talent, and Frontier for institutional growth. Investments will enhance research facilities, support exceptional individuals, and promote real-world applications in various technological fields.