Schools Financial News

American Airlines $50 million for failing to provide wheelchair assistance to passengers with disabilities and damaging thousands of wheelchairs over a five-year period. The Transportation Department said Wednesday that «in some cases,» wheelchair users were injured, but it did not give a number. American said it has made significant investments to improve the handling of wheelchairs. The airline will be credited $25 million, or half of its civil penalty, for those investments and compensation paid to affected passengers, according to a consent order.

Nitin Gadkari on Wednesday said the government has decided to double the 'defect liability period' to 10 years for contractors of engineering, procurement and construction (EPC) projects. Currently, under EPC projects, the responsibility for maintenance of national highways lies with the government after the defect liability period (5 years) is over. «The quality of roads built under EPC mode is not good. The defect liability period under EPC mode is 5 years… and within 3 years, there are lots of problems on roads,» Gadkari said at an event here. The road transport and highways minister noted that the roads built under BOT (build-operate-transfer) or HAM (Hybrid Annuity Model) mode are in good condition because the responsibility of maintenance of roads lies with the contractor and he has to pay the price.

Nagesh Kumar, the newest member of the Reserve Bank of India’s Monetary Policy Committee (MPC), has pointed to demand deficits in both domestic and international markets as a primary reason for the lack of momentum in private investment. In the minutes of RBI MPC's October meeting, Kumar has highlighted that despite companies maintaining healthy balance sheets and the government’s various reforms and incentives, private sector investment is yet to pick up. Kumar, who was the sole MPC member advocating for a rate cut in the latest meeting, believes that weak demand is holding back the investment recovery.

Isha Ambani, are celebrating their birthday today. A video showing Isha and Akash, along with Shloka Mehta, enjoying a night ride in their Rolls Royce on the streets of Mumbai is making rounds on social media. The viral clip shows the duo and Akash’s wife, Shloka Mehta, riding in a top-down Rolls-Royce. The video was shared by an Instagram page Soch! India with a brief caption, which read, "Ambani twins Isha and Akash take luxury to the next level with a joy ride in a stunning top-down Rolls! Just a casual day of living the dream." (sic). The video showed Akash driving the Rolls Royce, with Isha sitting beside him. Akash's wife Shloka Mehta entrepreneur and philanthropist, is seen sitting at the back. All three smile for a brief moment as they look at the camera. The video opens with a text that reads, “Nothing like a joy ride in a top-down Rolls for Ambani twins. Isha and Akash living their best life on the open road.”

HUL) has provided a cautiously optimistic outlook for the upcoming quarters, suggesting that demand trends are likely to remain stable. As the FMCG giant navigates the evolving market landscape, it anticipates that low-single-digit price growth may be achievable if commodity prices stabilise at their current levels. In its second quater result the FMCG major witnessed a decline in food & refreshment and personal care segment. HUL's expectation of low-single-digit price growth is contingent on the stabilisation of commodity prices. Inflation often drives up the costs of raw materials, which can lead to increased prices for consumers. By indicating that price growth may remain stable if commodity prices stabilise, it could possibly mean easing inflationary pressures, which would be beneficial for both the company and consumers. Rohit Jawa, CEO and Managing Director of HUL, noted that while urban markets have experienced moderating growth in demand, rural areas are on a path to gradual recovery.

Yann LeCun, vice president and chief AI scientist at Meta on Wednesday. Social media giant Meta's first Build with AI Summit in India was held here to discuss AI's transformative role in shaping the future of humankind. «AI assistants will eventually be smarter than us, but we should not feel threatened by that. We should feel empowered by it. It's kind of like everybody would walk around with a staff of smart people working for them. There is nothing better than working with people smarter than you, right?» said LeCun in his keynote address. According to him, everybody is going to be smarter because of that. «It's not just people like us in the tech community or in academia. It's going to be everyone. Everyone in India, even in rural areas, can ask questions to their AI assistants in their own language or for health issues, whatever. And it's a very different future that will become possible,» he added.

small finance banks (SFB) to launch instant fixed deposits (FD) on its mobile app. Investors can open fixed deposit without the need to open a new bank account, stated a MobiKwik press release issued on October 23, 2024.

Directorate of Education (DoE) in Delhi has announced new guidelines aimed at introducing 10 bagless days in schools, designed to create a more joyful and stress-free learning environment for students. This initiative targets students in classes six to eight across both government and private institutions in the national capital. These guidelines were developed by the National Council of Educational Research and Training (NCERT) following the recommendations set forth in the National Education Policy 2020.

Bombay High Court on Wednesday suspended the life sentence of notorious gangster Chhota Rajan in connection with the 2001 murder of hotelier Jaya Shetty, granting him bail in the case. A division bench comprising Justices Revati Mohite Dere and Prithviraj Chavan directed Rajan to furnish a bond of ₹1 lakh for his release. However, Rajan will continue to remain incarcerated due to other ongoing criminal cases.

Radisson Hotel Group on Wednesday announced the signing of its sixth hotel in Bengaluru, the Radisson Hotel Bengaluru Aerospace Park, marking a significant expansion in India's Silicon Valley. This new property, featuring 157 rooms, is expected to be operational by the second quarter of 2027 and will create over 250 job opportunities across various functions. Strategically located just 20 minutes from Kempegowda International Airport, the Radisson Hotel Bengaluru Aerospace Park is set to cater to the growing influx of business travelers and corporate professionals.

NMDC has announced another price hike for its iron ore effective from October 23, a notification said. The price of lump ore has increased by 18.69 per cent since August this year and by 10.43 per cent in October alone to Rs 6,350 per tonne. While fines have seen a 17.35 per cent hike since August and a nearly 8 per cent rise in October to Rs 5,410 per tonne.

deep depression over east-central Bay of Bengal intensified into cyclonic storm 'Dana' on Wednesday morning, the India Meteorological Department (IMD) said. The storm is likely to move in a northwestward direction, intensify further into a severe cyclonic storm over northwest Bay of Bengal and cross the Odisha-West Bengal coasts between Puri and Sagar Island in the early hours of October 25 with wind speeds of up to 120 kmph, the IMD added. The system lay 560 km southeast of Paradip and 630 km south-southeast of Sagar Island at 5.30 am, it said. Advising fishermen not to venture into the sea from October 23 to 25, the Met warned that wind speed is likely to reach 60 kilometres per hour (kmph) along and off Odisha-West Bengal coasts from October 23 and gradually increase to 100-110 kmph, gusting to 120 kmph, from October 24 night till October 25 morning.

Kunal Bahl shared his journey to success at the NDTV World Summit 2024, highlighting how setbacks led him to greater opportunities. Bahl, co-founder of Snapdeal and Titan Capital, revealed that not getting into IIT, a prestigious Indian institute, and having his H-1B visa application rejected, were key turning points in his life. Entrepreneur Kunal Bahl shared his journey of overcoming setbacks at the NDTV World Summit 2024. Despite not getting into IIT, a school his parents hoped for, he found success through different paths. Bahl emphasized that failures can lead to opportunities. He also discussed how a rejected H-1B visa application set the stage for his entrepreneurial career.

Nirmala Sitharaman highlighted that more than USD 450 billion has been transferred through Direct Benefit Transfers (DBT) to the people in last 8 years. The minister shared these key insights on India's achievements with Direct Benefit Transfers (DBT) while speaking at the Wharton Business School at the University of Pennsylvania in Philadelphia, USA on Tuesday. «Over 51 ministries and departments in the central government deal with Direct Benefit Transfers (DBT). More than USD 450 billion have been transferred cumulatively in the last 8 years» the minister said.

Congress leader Priyanka Gandhi Vadra's electoral debut in the Waynad Lok Sabha constituency, Bharatiya Janata Party (BJP) national spokesperson Shehzad Poonawalla launched a scathing attack and called Priyanka «another dynasty product». He further pointed out why the ticket had not been given to someone from the local population. «Congress has fielded Priyanka Vadra from Wayanad seat for (Lok Sabha) by-elections, the name of another dynasty product. A party that says 'jitni aabadi utna haq' forgot its own slogan. They should have given ticket to (someone from) the local population. Why did they not?» said Poonawalla. Hitting out further, Shehzad Poonawalla said that the Congress is not a political party but a family company.

sugar supplies are seen shrinking to the lowest level in six years in early 2025 as drought hampers production in top exporter Brazil, according to commodities trader Czarnikow Group Ltd. Extreme dryness has eroded sugar-cane crop conditions, limiting mills’ ability to produce sugar in the latter months of the current season and signaling a delayed start to next year’s harvest, Pedro Mizutani, Czarnikow head of raw sugar trading, said during a conference in Sao Paulo. Concerns about production constraints in Brazil — also caused by the spread of plant disease — have kept prices for the sweetener above the historical average for the past several years, underscoring the world’s dependence on the South American nation’s supplies. The country is expected to account for almost 75% of all raw sugar traded globally this year, according to consultancy firm Datagro.

global trade, increased its full-year guidance for a fourth time in less than six months, citing stronger demand and higher freight rates caused by supply chain disruptions from attacks in the Red Sea. Maersk now sees underlying earnings before interest, tax, depreciation and amortisation of $11 billion to $11.5 billion this year, topping both its prior forecast range and the average $10.1 billion estimate of analysts surveyed by Bloomberg. Maersk had already raised its 2024 profit forecast in May, June and August, as the Red Sea conflict was having a larger than previously expected impact on the world’s supply lines. The Houthi attacks have since late last year forced container vessels to sail south of Africa, absorbing some of the overcapacity in the container industry, which in turn has helped boost container rates.

Meta Platforms and Chief Executive Mark Zuckerberg won the dismissal of a lawsuit claiming they misled shareholders in Meta's proxy statement about their ability to ensure the safety of children who use Facebook and Instagram. In a decision on Tuesday, US District Judge Charles Breyer in San Francisco said the plaintiff Matt Eisner failed to show that shareholders suffered economic losses from Meta's alleged inadequate disclosures. He also said federal securities law did not require Meta to detail the severity of sexually explicit content and sexual exploitation of children on its platforms, or all the child protection strategies it decided not to adopt.

Bengaluru’s Outer Ring Road (ORR) on Tuesday evening, disrupting movement near key tech corridors. The traffic police took action by closing gates of major tech parks to alleviate the gridlock, leaving many tech workers stranded in their offices for hours.

Ekta Kapoor and her mother, Shobha Kapoor, have addressed the controversy surrounding the case registered against them under the POCSO Act. The allegations involve inappropriate scenes featuring minors in the ALT Balaji web series 'Gandi Baat'. In response, ALT Balaji issued a statement clarifying the involvement of the two producers and denying any violation of laws. According to the statement, both Ekta and Shobha Kapoor are not involved in the platform’s daily operations. The management of ALT Balaji, including its content strategy, is handled by separate teams. The company emphasized that it operates in full compliance with the law, including the POCSO Act, and dismissed the claims of featuring minors as incorrect. ALT Balaji also expressed its faith in the judicial system and confirmed full cooperation with the ongoing investigation. «It is further clarified that Mrs Shobha Kapoor and Ms Ektaa R Kapoor are not involved in the day to day operations of the company and the same are managed by separate teams, including its content strategy. The company has complete faith in the judiciary and is fully co-operating with the authorities in the investigation. since the matter is sub-judice, the company refrains from commenting in detail,» the statement added.

Hemant Soren from Barhait and Kalpana Soren from Gandey segments. The assembly polls will be held in two phases — on November 13 and 20 — while the results will be declared on November 23. Hemant Soren is the sitting MLA from Barhait (ST) constituency in Sahibganj district. He won the seat by 25,740 votes over his nearest BJP rival Simon Malto in the 2019 assembly elections. His wife Kalpana Soren had won the Gandey bypoll by 27,149 votes over her nearest BJP rival Dilip Kumar Verma. The seat had fallen vacant following the resignation of JMM MLA Sarfaraz Ahmad.