Oil prices surged over 1% on August 31 as escalating military action in the Strait of Hormuz sparked fresh fears over global energy security. The friction reverberated immediately through trading floors. Brent crude futures gained $1.08, or 1.23%, to reach $89.18 a barrel, while US West Texas Intermediate crude increased by 92 cents, or 1.10%, to hit $84.32. The move followed...
Business
TCS to acquire Porsche’s IT consulting arm MHP for €320 million
Tata Consultancy Services (TCS) will acquire 100% of MHP Management- und IT-Beratung GmbH (MHP), Porsche AG’s management and IT consulting subsidiary, for an enterprise value of €320 million as part of a broader five-year strategic partnership with the German luxury automaker. The acquisition, approved by the board of TCS Netherlands B.V., a wholly owned subsidiary of TCS, will give the...
Maharashtra FDA suspends licences of McDonald’s, over food safety violations
The Maharashtra Food and Drug Administration (FDA) has suspended the food business licences of the Bombay Presidency Radio Club and a McDonald’s outlet in south Mumbai, along with 11 other food establishments across the state, over alleged violations of food safety and hygiene norms, PTI reported, citing officials. The action follows an intensified crackdown after IAS officer Tukaram Mundhe took charge as...
oil prices surge to one-month high as US prepares sweeping sanctions on Iran
Crude oil prices marched higher in Thursday’s trade, climbing to their highest levels in nearly a month as the United States prepared to impose a sweeping package of economic measures aimed at further isolating Iran from international financial and commercial channels. International benchmark Brent crude rose by nearly $3 to around $92 a barrel, hitting its highest since July 22,...
Oil jumps past $91 as Trump casts doubt on a new deal with Iran
The price of oil jumped sharply Monday after President Donald Trump cast doubt on another deal with Iran to extend the expiring ceasefire. “They want to make a deal, but they’re not going to make the kind of a deal that I feel is necessary,” Trump said in the Oval Office. Shortly after Trump’s comments, international oil benchmark Brent jumped...
Who Will Be The Next Tata Sons Chairman? The Tata Family, Noel Tata And The Names In The Race
For almost a decade, N Chandrasekaran has been the man at the centre of the Tata Group. Now, the search for the person who will replace him has begun. Chandrasekaran will step down as Tata Sons chairman when his current term ends on February 20, 2027. His decision not to seek another term follows months of uncertainty over his reappointment...
Gold prices rise Rs 1,200/10g; silver jumps Rs 2,612/kg as traders eye US inflation data
Gold and silver prices opened higher on the MCX on Wednesday with investors awaiting US inflation data for clues on the Federal Reserve’s monetary policy path. Ongoing tensions in the Middle East also kept concerns over oil-led inflation in focus. In the domestic market, MCX silver futures for September 2026 delivery were up Rs 2,612 at Rs 2,38,271 per kg. Gold...
Oil Prices: Brent Crude Nears $85 On Uncertainty Over Reopening Of Strait Of Hormuz
International crude oil prices rose on Monday, Aug. 10 on uncertainty over the reopening of the Strait of Hormuz after Iran said a deal with Oman defining new shipping lanes was in its final stages but insisted the US must still meet other conditions. Iran is currently not engaging in talks with US. However, US had earlier stated that a...
FSSAI bans sale of alcohol brands for adding artificial flavouring
The Food Safety and Standards Authority of India (FSSAI) has barred the sale of certain rum and whiskeys sold by Diageo India’s United Spirits, Inbrew Beverages and Mohan Rocky Springwater. FSSAI said laboratory tests found that some manufacturers were adding flavours of the alcoholic beverage itself, for example, rum flavour in rum or whisky flavour in whisky. The action comes in the...
Air India names former Ethiopian Airlines head Tewolde Gebremariam as CEO
Air India has announced the appointment of former Ethiopian Airlines Group CEO Tewolde Gebremariam as its new chief executive and managing director, four months after Campbell Wilson resigned, as the Tata Group-owned carrier enters the next phase of its transformation focused on expansion and profitability. The appointment follows a global search overseen by a committee of Air India’s board, which...
RBI keeps repo rate unchanged at 5.25%, says Governor Sanjay Malhotra
Amid continued tensions in West Asia and fears that a weak monsoon could lift food prices in the months ahead, Reserve Bank of India (RBI) Governor Sanjay Malhotra said that the central bank has kept the repo rate unchanged at 5.25%. The Standing Deposit Facility (SDF) rate and Marginal Standing Facility (MSF) rate and the bank rate were also kept unchanged...
India getting ready for Xi, Putin visits in September
India is getting ready for visits by Chinese President Xi Jinping and Russian President Vladimir Putin, with both leaders planning to attend the BRICS summit to be held in Delhi on September 12 and 13, sources here said on Wednesday (July 29, 2026). Consultations are continuing with regard to these upcoming high-level visits. On Monday (July 27, 2026) and Tuesday...