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renewable energy. "So, our companies will have to challenge that in the appellate forum; but until then, this will continue, this 126% which has been imposed," he said.

The battle for market share in India’s ride hailing industry between American giant Uber and homegrown Rapido has intensified, even as the once-dominant position of the country’s first major ride-hailing service—Ola Cabs—steadily erodes.In a bid to bulk up its financial firepower, Uber has pumped nearly ₹3,000 crore into its India unit in recent months to take on the challenge from Bengaluru-based Rapido, which entered the current fiscal year with a stronger cash position and has rapidly gained market share.The Indian unit of US-based Uber Technologies Inc got ₹2,721 crore in January from Uber BV, the Dutch arm of Uber, following a ₹200-crore investment made in November, according to a Mint review of the financials filed with the ministry of corporate affairs (MCA).On the other hand, Rapido received ₹125 crore funding in FY26 from Nexus Ventures. Its last significant capital round was a $200-million series E raise in 2024 led by WestBridge Capital, which made it a unicorn (startup with a billion-dollar valuation).However, Rapido ended last fiscal (FY25) with ₹345 crore free cash in hand, while Uber had ₹292 crore, MCA data showed.Experts note that in the ride hailing business, higher cash in hand of companies can help in incentivising drivers and customers, which in turn will help in defending market share.The buildup of cash reserves by the two rivals signals that the ride-hailing war between Rapido and Uber is entering a new phase, a fact underscored by Uber’s chief executive Dara Khosrowshahi last year.

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Stock market recap: The Indian equity benchmarks faced significant selling pressure on Tuesday, with Nifty 50 plunging 288.35 points (1.12%) to settle at 25,424.65, and BSE Sensex plummeting 1,068.74 points (1.28%) to 82,225.92.The session saw a "tech bloodbath" as Nifty IT crashed 4.74% to a 30-month low. This rout was triggered by deepening AI disruption fears following Anthropic’s launch of tools capable of automating legacy COBOL systems—a core service area for Indian IT majors.

Subscribe to enjoy similar stories. Lately economists have been vigorously debating the health of America’s labour market. Some argue that the jobs market is weakening, portending a downturn and requiring further interest-rate cuts from the Federal Reserve.

Subscribe to enjoy similar stories. “I have to giggle," says Jim Chanos, asked if investors have become overly optimistic about artificial intelligence. “We’ve got to the ‘data-centres-in-space’ stage of the cycle." Firms from SpaceX and Blue Origin to Alphabet plan to shrug off earthly constraints on the computing clusters that power AI, and launch them into orbit.

Write to Rolfe Winkler at [email protected] all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Subscribe to enjoy similar stories. JPMorgan Chase CEO Jamie Dimon said fears about artificial intelligence that walloped its stock on Monday were overblown and that America’s biggest bank would use the technology to its advantage. “In my view, we’ll be a winner," said Dimon, who was wearing a cast on his left hand after having arthritis and bone spurs treated.

Subscribe to enjoy similar stories. Stock market recap: The Indian equity benchmarks extended their winning streak on Monday, buoyed by a landmark US Supreme Court ruling that invalidated broad-based emergency tariffs. Nifty 50 advanced 0.55% to settle at 25,713, while Sensex climbed 0.58% to end at 83,294.66.

Subscribe to enjoy similar stories. The Centre has set new standards aligning domestic norms with global benchmarks for children’s apparel to help domestic manufacturers meet stricter international regulations, two people close to the development said.

Subscribe to enjoy similar stories. Dozens of armed government agents swarmed the offices of shrimp producer Grupo Lamar, a family owned business that had emerged as one of Venezuela’s largest exporters after the collapse of the oil industry. The owners are terrorists, agents told petrified workers.

Subscribe to enjoy similar stories. JACOB PALMER knew little about skilled manual jobs growing up, save that they were “dirty, sweaty" and “definitely seemed like lowbrow". But it took only a year of remote learning during the covid pandemic for Mr Palmer, who grew up in North Carolina, to realise that university wasn’t for him.

The US Supreme Court’s decision to strike down President Donald Trump’s sweeping global tariffs is a wake-up call for Congress. If the legislative branch had been doing its job last year and hadn’t ceded its taxing power when the White House embarked on this unprecedented protectionist journey, perhaps we wouldn’t be in the mess we’re now in.But with its 6-3 ruling on 20 February, America’s top court not only reaffirmed the separation of powers but invited Congress to reassert itself as the branch with the power of the purse. Congress should get its act together and tell the president if he wants to keep his tariffs, he’ll need to work with them to do it.It could take a lot of persuasion.

Subscribe to enjoy similar stories. After the US Supreme Court ruled against his emergency tariffs, President Donald Trump has vowed to rebuild the tariff wall by other means. However, his tariff weapon, blunted by the ruling, would never be the same again.

Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

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Subscribe to enjoy similar stories. AN INVESTOR WAKING from a stupor that began on New Year’s Eve might question whether they had missed anything. The S&P 500 share index of big American firms sits almost exactly where it did at the end of 2025: nearly at a record high.

Subscribe to enjoy similar stories. In the 1990s, the Central Intelligence Agency dug into all it knew about the possibility of extraterrestrial visits, ultimately revealing what it found: Most of the supposed early UFO sightings were highly classified spy planes flying over the U.S.

Subscribe to enjoy similar stories. New Delhi: A set of common initiatives and directives signed by India, the US, China and 83 other countries at the recently concluded India AI Impact Summit will shape global collaborations on artificial intelligence (AI) despite the agreement being non-binding in nature, said a top bureaucrat who spearheaded the declaration. On Saturday, the government released the New Delhi declaration that was signed by 88 entities, including the European Union (EU) and the International Fund for Agricultural Development (IFAD).

Subscribe to enjoy similar stories. Hours before the US Supreme Court struck down President Donald Trump's tariffs on Friday, a section of foreign institutional investors (FIIs) in India flipped their bearish bets to bullish ones, even as proprietary traders sharply raised their bullish bets. The two moves, combined, may signal anticipation of a ruling which has the potential to trigger a stock market rally on Monday.