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Subscribe to enjoy similar stories.Sen. Tim Scott called President Trump on Tuesday with a last-ditch plea.The president was on the verge of publicly endorsing Texas Attorney General Ken Paxton in the state’s tightly contested Republican primary.

Subscribe to enjoy similar stories.India’s insurance sector has found renewed vigour, with two global players ready to expand their market presence and others exploring entry. On Monday, US-based Liberty Mutual Insurance announced a stake increase in its Indian venture Liberty General Insurance to 74% from a bit above 55%.A day earlier, UK-based Prudential said it will buy a 75% stake in Bharti Life Insurance Company. Also, Germany’s Allianz has struck a 50:50 joint venture (JV) with Jio Financial Services.

Subscribe to enjoy similar stories.NEW DELHI: Standardized valuation, identification of surplus land and norms for the transfer, exchange, lease and commercial sale of land are among the key features of a new framework that the Centre has put in place to unlock public land assets under the second phase of the ₹16.7 trillion National Monetisation Pipeline (NMP 2.0), two government officials said.The Department of Expenditure has issued consolidated guidelines governing the transfer and alienation of Central government land to speed up the monetization, redevelopment and transfer of such assets, replacing the fragmented and decades-old rules followed separately by ministries and departments to support infrastructure creation and mobilize non-tax revenue, they said.Government entities, including the railways, defence establishments, ports and state-run companies hold vast tracts of land across the country, including 2.35 lakh acres of surplus land with loss-making central public sector enterprises.

Subscribe to enjoy similar stories.Muthoot FinCorp Ltd, one of India's largest gold loan non-banking finance companies (NBFCs), is seeking to raise up to ₹4,000 crore through an initial public offering, even as it attempts to convince investors that it is more than just the business it has spent decades building.Muthoot wants to be read as a diversified, technology-enabled financial services company that can grow through its branch network, app, and a wider product set.That is the tension at the heart of the company’s initial public offering (IPO) pitch. In an interview with Mint, chief executive Shaji Varghese said the company is moving “from a single-product company to a company of a social segment with multiple products".The NBFC, with 3,800 branches, ₹56,185 crore in assets under management (AUM) and over ₹1,640 crore in net profit for FY26, approved the IPO on Saturday, subject to shareholder and regulatory clearances.

Subscribe to enjoy similar stories.Policy planners expect some repayment stress to affect small-ticket loans disbursed under two flagship government schemes—PM SVANidhi Scheme and Pradhan Mantri Mudra Yojana—in the next few quarters as a fallout of the war in West Asia, according to three people aware of the issue.The PM SVANidhi Scheme provides working capital term loans to urban street vendors, while the Pradhan Mantri Mudra Yojana funds micro enterprises and small businesses. Many of the loan beneficiaries of these schemes are vulnerable to economic disruption and rising living costs.“We are expecting some stress in the PM SVANidhi Scheme portfolio as it directly caters to street vendors, who form an important part of the informal urban economy.

Subscribe to enjoy similar stories.India’s earnings season is sending a clear message to investors: Quarterly earnings beats alone are no longer enough to keep stocks flying.While several companies managed to reverse pre-result declines after reporting stronger revenue and profit growth, most of these gains faded quickly as investors shifted their focus to future guidance, valuation comfort, and earnings sustainability amid volatile market conditions.A Mint analysis of 866 BSE-listed companies that have declared their earnings so far shows that among stocks that declined ahead of results, only a limited set managed to stage a meaningful recovery after their March-quarter earnings announcements. Only companies where relevant information was available were considered.Of the 866 companies analysed, 46.4%, or 402 stocks, declined before their Q4FY26 results.

Subscribe to enjoy similar stories.Mumbai: The TVS Venu Group has been expanding its financial services operations across multiple segments, including insurance and asset management, and their latest plan to acquire a 10% stake in Jana Small Finance Bank (SFB) marks a strategic extension into banking, giving access to the mass affluent and small-business segments.On Monday, the Chennai-based conglomerate said it will acquire a 9.9% stake in the bank through a combination of primary issuance of warrants and a secondary purchase. This includes acquisition of a 5.64% stake by TVS Venu for ₹317 crore and 4.9% by TVS Motor Company for ₹193 crore.Bengaluru-based Jana SFB has over 12 million customers, and advances and deposits of over ₹35,000 crore each as of 31 March 2026.

Subscribe to enjoy similar stories.New Delhi: India’s automakers have told the government that consumers are unlikely to adopt flex-fuel vehicles unless high-ethanol fuels such as E85 and E100 are priced significantly below petrol, according to two people aware of discussions between the petroleum ministry, oil marketing companies, and auto lobby group Society of Indian Automobile Manufacturers (Siam).The industry has sought lower retail pricing for high-ethanol fuels along with tax benefits as the government accelerates work on a roadmap for higher ethanol blending amid rising energy security concerns.In Brazil, where most vehicles can run on E85 or E100 fuels, high-ethanol blends are priced lower than the standard E27, according to the country’s national agency of petroleum, natural gas, and biofuels.

Subscribe to enjoy similar stories.High up in the mountains or deep in the jungles, your smartphone may still stay connected, thanks to direct-to-device (D2D) satellite technology making its way to India. However, the technology has opened up divisions, as telecom operators, satellite service providers and broadband firms spar over customer control, spectrum, and launch timelines.The department of telecommunications (DoT) has proposed a 'wholesale' model for satellite communications like D2D, which is currently under the telecom regulator's consultation process.

Subscribe to enjoy similar stories.Bengaluru: For Bengaluru-based techie Sumukh S, blood tests used to be a transactional matter. He would compare prices across apps, check availability and book whichever lab seemed cheapest or quickest that day. That changed about two years ago, after a friend recommended Orange Health Labs.

Subscribe to enjoy similar stories.Mumbai: As the domino effect of the West Asia war builds inflationary pressures across the economy, Zydus Wellness Ltd sees a larger share of its growth coming from price increases rather than higher sales volumes in the coming quarters. The consumer wellness firm said rising packaging, freight and input costs are beginning to influence pricing decisions, reflecting the broader pressure on consumer-facing businesses.“While growth is driven by volumes, there will also be a value component, as there is some level of inflation,” chief executive officer Tarun Arora told Mint in an interaction on Tuesday.

Subscribe to enjoy similar stories.America has reportedly extended the waiver of its sanctions on purchases of Russian crude oil by another 30 days, just days after it expired. This reduces uncertainty over India’s oil imports from Russia, even as New Delhi has made it clear that India’s oil-buying is not affected by third-party impositions.

Subscribe to enjoy similar stories.The Union health ministry has initiated strict precautionary public health measures amid the spreading Ebola outbreak in Central Africa, according to two officials familiar with the matter.The outbreak, driven by the Bundibugyo virus strain, has rapidly intensified across the Democratic Republic of Congo and Uganda.The move follows the World Health Organization’s declaration of the Ebola Virus Disease outbreak as a Public Health Emergency of International Concern.The epidemic, according to the latest WHO situation reports, has already resulted in at least 246 suspected cases and 80 suspected deaths in the Democratic Republic of Congo’s Ituri province alone. Cross-border transmission has also been confirmed, with imported cases reported in the Ugandan capital, Kampala, signalling a high risk of regional spread due to intense population mobility and trade links.Key components of India’s preparedness strategy include a comprehensive review of standard operating procedures governing passenger screening, surveillance, quarantine measures and clinical case management.

Subscribe to enjoy similar stories.Telecom operator Vodafone Idea Ltd on Monday laid out an ambitious financial roadmap to generate and secure over ₹1.08 trillion in cash over the next three years, betting on a sharp rise in operating earnings, possible bank debt funding, income tax-related recoveries and promoter support to fund its turnaround.The telecom operator has to pay ₹49,000 crore towards spectrum dues over the next three years, execute a capital expenditure plan of ₹45,000 crore for network expansion and upgrades, and meet interest payments of about ₹5,000-6,000 crore to service bank debt, taking its cumulative outgo to nearly ₹1 trillion.“...we are very confident that with the bank loan for the capex and for the Ebitda addition, we will be able to fulfil all our obligations across the next three years,” Vodafone Idea’s chief financial officer, Tejas Mehta, told analysts during the Q4 earnings call. Ebitda is short for earnings before interest, taxes, depreciation and amortization.As of the end of March, the telecom operator had a cash and bank balance of ₹3,715 crore.

Subscribe to enjoy similar stories.MUMBAI: Beneath the one-time profit hit from the ₹590 crore Chandigarh fraud, IDFC FIRST Bank’s March-quarter (Q4FY26) earnings revealed a deeper concern: deposit growth slowed sharply after the incident dented depositor confidence.The private sector lender’s customer deposits rose just 1% sequentially during Q4 to ₹2.84 trillion, even as Indian banking sector deposits rose 13.5% year-on-year (y-o-y) to ₹262.3 trillion during the per, up from 10.3% growth a year earlier, according to Reserve Bank of India data.“We saw an increase in total deposits by about 16.8% on a YoY basis…The growth was modest at 1% during the quarter…There was also an impact of the one-off fraud incident, which occurred during the quarter,” chief financial officer Sudhanshu Jain had said during the bank’s post-earnings analyst call on 25 April.On 23 February, the lender disclosed a ₹590 crore fraud at its Chandigarh branch, where employees carried out unauthorized transactions in accounts linked to the Haryana government, creating a deposit balance discrepancy. The bank has since paid the state government ₹590 crore, suspended the employees involved and filed police complaints against them.During earnings call, the bank said it had fully expensed the impacted amount in Q4FY26 and was “reasonably certain” no further material financial adjustments would be required beyond those already recognized.While IDFC FIRST Bank was not accused of direct wrongdoing, the incident triggered reputational concerns and weighed on deposit flows during the quarter.

Subscribe to enjoy similar stories.The finance ministry, on Monday, has directed all public sector banks, insurance companies, and financial institutions to implement austerity measures, including switching to electric vehicles (EVs), curtailing foreign travel, and shifting to video conferencing for meetings, as the government moves to reduce expenditure and protect the country's financial system from economic instability due to the West Asia war.“All organisations may aim at replacing the petrol and diesel cars hired by them in their head offices and branch offices with electric cars as far as possible,” according to an official circular of the department of financial services (DFS) reviewed by Mint.Earlier this month Prime Minister Narendra Modi had made seven big appeals, austerity measures so to speak, to cushion India from the economic uncertainties arising from the prolonged West Asia war. These included conserving petrol and diesel by using public transport and metro; avoiding purchasing gold for a year, and restricting foreign travel to conserve forex."It is time for us to use petrol, diesel and gas with great care,” Modi said on Sunday while inaugurating projects in Hyderabad, Telangana.

Subscribe to enjoy similar stories.As the West Asian crisis broke out late February, Sunil JhunJhunWala, managing director and co-founder of Tiruppur-based Techno Sportswear Pvt. Ltd, an active wear brand, moved fast.The disruption to the movement of ships through the Strait of Hormuz, he rightly surmised, would affect the supply of polyester filament yarn (PFY)–a raw material derived from crude oil—which he imports from China.

Subscribe to enjoy similar stories.Rare earth metals are on the minds of all investors these days, and for good reason. Recent trade tensions have put China’s rare-earth monopoly into stark relief.

Subscribe to enjoy similar stories.A quiet shift is underway in how India spends, as salaries fail to keep pace with the rising cost of living.An April 2026 white paper titled The New Indian Household Balance Sheet by wealth manager Client Associates found that net financial savings have fallen sharply to about 5.2% of gross domestic product in 2023-24, down from nearly 7.7% in the pre-pandemic years, as rising borrowings eat into household surpluses and household financial liabilities have climbed to 6.2% of GDP, a decade high, driven by rapid growth in home loans, personal credit, and credit card spending.And somewhere in between wanting something and not being able to afford it, a new habit has taken hold: buy now and pay later (BNPL).BNPL is a type of short-term loan that lets you pay for goods or services immediately and pay them back at a later date, usually in instalments or with a single interest-free deferred payment. Unlike conventional loans, it is largely interest-free as long as the customer pays on time.

Subscribe to enjoy similar stories.BENGALURU: A month after Tata Consultancy Services Ltd (TCS) completed its largest retrenchment exercise, laying off about 2% of its workforce, the company asked managers during its latest appraisal cycle to place about 5% of its 584,519 employees in Band D, the lowest performance category, according to an internal email reviewed by Mint and independently confirmed by an executive.“Please review critically and share the list of associates who can be considered for Band D, thereby meeting the agreed 5% distribution,” said an email from a TCS HR executive to one of the business unit heads of the company in April.Business unit heads classified about 3% of employees, about 17,500 people, as underperformers, according to three other executives.The ratings have stoked fresh concerns among employees across India’s largest software services firm, especially after many of the 12,200 employees laid off in the recent retrenchment exercise were similarly rated.Top performers, meanwhile, received hikes of about 6%, according to annual salary increase letters sent to employees on Sunday.An email sent to TCS on 12 May seeking comment went unanswered till press time.While TCS, like peers Infosys Ltd and HCL Technologies Ltd, has long classified some employees as underperformers, executives said the explicit 5% Band D distribution has heightened concerns.“A couple of things stand out this time around. Until last year, it was understood that many employees would be placed in Band D, as in other IT companies.

Subscribe to enjoy similar stories.Rural-linked companies reported their strongest volume-led recovery in years in the March quarter (Q4FY26), driven by low inflation, healthy farm incomes and rising non-farm employment from infrastructure spending. Aggressive government welfare spending further boosted rural consumption across staples and discretionary categories.But experts warn the recovery may already be approaching its first major stress test.