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The devastation of Hurricanes Milton and Helene have opened the floodgates for people seeking disaster relief

artificial intelligence (AI) and space science, said a Cabinet minister in Prime Minister Keir Starmer-led government. Addressing a Diwali celebration organised by the Labour Indian diaspora group on Monday evening, UK Secretary of State for Work and Pensions Liz Kendall reiterated the party's manifesto for the July general election committed to pursuing closer ties with India and a free trade agreement (FTA). As a member of Parliament from Leicester West, a constituency closely associated with the British-Indian community, the minister said she remains determined to champion the India-UK relationship in the Labour government and her city. «It was a very clear part of our manifesto that we want to build a new strategic relationship with India because we understand the vital relationship between our two great nations,» said Kendall.

Playboy magazine is one of the biggest brands in terms of the fashion business, and Cooper Hefner, Hugh Hefner's son, is now interested in buying back the Playboy brand and run the intellectual property by themselves. The new entity formed will now get a 10% ownership stake in this new venture of the brand. Meanwhile, Hefner has revealed, according to the NY Post, that he would be assuming the responsibility of the company's CEO from now.

Adani Group's power transmission arm Adani Energy Solutions Ltd (AESL) on Tuesday said it has received a notice from Securities and Exchange Board of India (Sebi) alleging wrongful categorisation of certain investors as public shareholders. The company in its filing to exchanges has said that it will respond to regulatory and statutory authorities by providing relevant information/clarifications. «During the current quarter, an SCN (show-cause notice) has been received alleging wrongful categorization of shareholding of certain entities as public shareholding and consequences therefrom,» AESL said. «The company will respond to the regulatory and statutory authorities by providing information, responses, documents and/or clarifications, as applicable, in the due course of time.»

Godavari Biorefineries Ltd on Tuesday said it has raised over Rs 166 crore from anchor investors, a day before its initial share-sale opening for public subscription. Marquee investors who participated in the anchor book included HDFC Mutual Fund, Whiteoak Capital Fund, Goldman Sachs (Singapore) Pte Ltd, Societe General and SBI General Insurance, according to a circular uploaded on BSE website. As per the circular, Godavari Biorefineries allocated 47.28 lakh equity shares to 19 funds at Rs 352 apiece, which is also the upper price band of the IPO. This translates into a transaction size of Rs 166.42 crore.

“This price rise will impact the demand for silver during the Dhanteras-Diwali period and volume-wise it may drop by 15-20 per cent,” said Surendra Mehta, national secretary of India Bullion & Jewellery Association (IBJA).

Indus Towers reported a 71.7% on-year jump in net profit to Rs 2,224 crore for its fiscal second quarter, on the back of strong tower additions and steady collection of past overdues from Vodafone Idea (Vi). Quarterly revenue grew 4.7% on year to Rs 7,465 crore in the July-September quarter.

Silver prices have touched the Rs 1 lakh per kg mark in Delhi-NCR’s bullion markets, rising by over 3% or Rs 8,200 in just three weeks. Commodity experts expect a 3-5% increase in prices in the run-up to Dhanteras. Meanwhile, on the MCX, the December Silver contracts hit a new lifetime high of Rs 99,475, gaining by Rs 2019 or over 2%. The March 2025 futures were trading at Rs 1,01,688, gaining by Rs 1,847 or 1.85%.

equity indices, Sensex and Nifty50, recorded their biggest single-day decline in nearly three weeks on Tuesday, dragged down by slowing corporate earnings and ongoing foreign selling. The NSE Nifty 50 fell 1.25% to 24,472, while the BSE Sensex shed 1.15% to 80,220. Both benchmarks gained approximately 0.4% in the first hour of trading before reversing those gains, marking their worst session since October 3.

Delhi High Court has restrained Hong Yi F5 and others, the owner and operator of a website that had replicated an earlier version of Dream 11's website, from using Dream 11's trademark, trade and domain names, its logos and tagline and layout/ user-interface of its website or any deceptively similar variant that is likely to infringe the latter’s trademark and copyright. The HC also asked GoDaddy.com LLC to transfer Hong Yi's domain name to Sporta Technologies, which owns and operates the Dream 11 fantasy sports platform that allows participants to draft virtual teams based on real players' performances in actual games. Justice Amit Bansal said that since Hong Yi F5 and other defendants have failed to take any requisite steps to contest the present suit, it is evident that they have no defence to put forth on merits. “It may be relevant to note that Hong Yi F5 did not appear before the court, despite service of summons on February 9, 2024 via e-mail. Further, no communication on behalf of the defendants have been placed on record in respect of the allegations of the plaintiffs in this suit.”

Sebi on Tuesday came out with a framework on associations between market intermediaries and unauthorised financial advisors, especially with regard to specified digital platforms. This came after Sebi in August amended rules aimed at regulating associations between intermediaries, like stock exchanges, clearing corporations and depositories, and entities providing financial advice or making performance claims. The rule restrains intermediaries, their agents, or associated persons from having direct or indirect ties with any entity that provides investment advice or recommendations without being registered or permitted by Sebi or makes performance or return-related claims unless specifically authorised by the regulator to do so.

Ruchir Modi, son of former Indian Premier League chairman Lalit Modi, has filed a plea in the Delhi High Court seeking distribution of the dividends of Rs 620.83 crore, received by the K.K. Modi Family Trust companies since 2020, among the four family branches — Lalit Modi, Bina Modi, Samir Modi and Charu Modi. Justice Subramonium Prasad has given two weeks to Bina and her daughter Charu Modi to respond to the Ruchir's application. The case will be next heard on November 19. Ruchir in his fresh plea has alleged that several trust companies including Godfrey Phillips India (GPIL), IPM India Wholesale Trading and Indofil Industries have announced and distributed dividends the tune of Rs 620.83 crore to the upstream Trust companies since 2020, but he and his family branch had been kept «completely in the dark» and his family branch is entitled to a 25% share.

Cotton Association of India (CAI) has pegged India‘s 2024-25 year-on-year cotton production lower by 7% due to fall in acreage and crop loss due to excess rainfall. The trade body also expects India's cotton imports to jump by 42% and the exports to fall by 37%. The CAI has pegged the all India total cotton pressing for the 2024-25 season at 302 lakh bales of 170 kgs each as against 325 lakh bales produced last year. «There are reports of crop damage due to excessive rainfalls in several cotton growing states. The Ministry of Agriculture has reported acreage under cotton to be lower by 10% than last year,» said CAI in a media release.

UBS Wealth Management senior vice president Brenda OConnor Juanas and Strategic Wealth Partners Mark Tepper look ahead to the elections impact on markets and notable earnings out this week.

Bajaj Finance on Tuesday reported a 13% jump in its net profit for the quarter ended September 2024 to Rs 4,000 crore versus Rs 3,551 crore posted in the year-ago period. The profit is attributable to the owners of the company. It was below ET Now poll estimates of Rs 4,070 crore.

General Insurance has reported a 591% growth in profit after tax at Rs 414 crore for the first half of the current financial year against Rs 60 crore in the corresponding period of the previous financial year. The overall business also showed strong growth with the company's gross written premium (GWP) growing at 16.1% against the industry growth at 7%.

Hindustan Unilever (HUL) is expected to report a 2-4% increase in its Q2FY25 revenue partly offset by pricing cuts undertaken by the company in the reporting quarter. The top-line is expected to be in the range between Rs 15,621 crore and Rs 15,728 crore, according to estimates given by four brokerages. The net profit for the reporting quarter is estimated at Rs 2,592 — Rs 2,714 crore.

Nifty is currently weakening after forming a new lower top around 25,230 levels. This is a negative indication and signals ongoing downward correction. Another crucial weekly cluster support around 24,500 (ascending trend line, 23.6% retracement and weekly 20 period EMA) is placed on the verge of a downside breakout.