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Amazon has laid off around 250 employees in its devices and services division, informing them through early morning emails and text messages.
The US Federal Reserve will hold its October 2026 interest rate decision on October 28. Fed Chairman Kevin Warsh mentioned that the US economy is stable despite AI investment-driven demand pressures, and his press conference will commence after the announcement.
Counterpoint Research's report reveals that Apple's iPhone 18 Pro series witnessed a 3.1% increase in global sales compared to the iPhone 17 Pro series during the first three weeks after launch.
RBI Deputy Governor Poonam Gupta spoke at the BFSI Insight Summit 2026, asserting that India's economic resilience and policy response have kept the growth momentum strong despite global shocks, with factors like diversified economy, domestic investment, and foreign capital contributing to its growth prospects.
Gandhar Oil Refinery (India) Ltd reported a net profit of ₹186 crore in the second quarter of FY27, a 368% increase from the previous year. Revenue reached ₹1,847 crore, marking the company’s highest quarterly earnings and a 73% year‑over‑year rise. The results reflect strong performance in the oil refining sector.
Mumbai Airport and major airlines have agreed to move international operations to Navi Mumbai, involving roughly three million passengers each year. The carriers aim to complete the transition by October 2027, while Adani Airport will begin reducing capacity at the current site in April. The decision was made during a meeting with the Airline Operators Committee.
India is set to boost diesel exports next year as new refining capacity becomes operational. Analysts say the increased supply could help alleviate global diesel shortages. This expansion is expected to enhance India's role in international fuel markets.
Vedanta Limited and Vedanta Aluminium witnessed significant growth in Q2 FY27 results. Vedanta Limited's net profit increased to ₹3,650 crore, while Vedanta Aluminium's net profit surged to Rs 6,187 crore. Both companies' revenue rose, EBITDA increased, and debt declined due to higher commodity prices and production supporting the results.
India's industrial output growth slowed to 6.7% in September, with manufacturing and electricity growth moderating, and mining contracting by 6.2%. Despite the slowdown, industrial production grew 6.8% in April-September, up from 4.4% a year earlier.
India is set to strengthen its position as a global refining hub by increasing its refining capacity to 300 million tonnes per year by 2030, and further expanding to 400 million tpy afterward, according to BusinessLine and Business Standard sources.
Commerce Minister Piyush Goyal stated that India welcomes Chinese suppliers while warning against unfair pricing. Trade between India and China increased 29% to $91.76 billion from April to September. The government said it will permit Chinese imports provided trade practices are fair.
The Indian rupee experienced a decline of 21 paise, closing at 95.28 (provisional) against the US dollar in the interbank foreign exchange market, with an intra-day low of 95.29.
Tech giant Microsoft is cutting 60,000 jobs as part of cost-saving measures, ahead of its Q1 earnings report.
The Department for Promotion of Industry and Internal Trade announced a reduction of 47,957 compliance requirements across central ministries and states. The changes comprise digitisation, simplification, de‑criminalisation and elimination of specific requirements. The move is intended to ease business operations under a trust‑based governance model.