Author: Sreelatha M

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Leaders

Zoho founder faces $1.7bn bond in divorce case

Zoho co‑founder Sridhar Vembu has been asked by a California court to post a $1.7 billion bond as part of his ongoing divorce proceedings with his estranged wife, Pramila Srinivasan. The unusual order, issued in January 2025, is intended to protect her share of marital assets while the case continues.

Vembu, who relocated to India in 2019, and Srinivasan, who remained in the US., had been married for nearly 30 years. Their divorce, which began in 2021, involves complex disputes over property and financial interests accumulated during their marriage. Under California law, assets acquired while married are generally considered joint property, and both parties have a right to an equitable share.

The court order included the appointment of a receiver to oversee several US-based entities linked to Vembu and temporarily blocked certain corporate restructuring moves, aiming to prevent any transfers that might affect Srinivasan’s potential claims. Court filings suggest that Srinivasan’s legal team alleged Vembu transferred significant business stakes and intellectual property without her consent, prompting the court to act.

Vembu’s US attorney, Christopher C. Melcher, has strongly criticised the bond order, calling it “invalid” and legally impossible to meet. He said the order was issued on limited notice and based on incomplete information. Melcher also highlighted that Vembu had already offered Srinivasan a 50 percent share in Zoho Corporation Pvt Ltd and had transferred ownership of their family home to her, offers which she reportedly declined.

Melcher further pointed out that some of Srinivasan’s legal counsel were not licensed in California and accused them of misleading the court. He added that the matter is not about alimony, as no support order has been requested.

This case illustrates the challenges of high-stakes, cross-border divorces, especially when major business interests are involved. While the bond order has made headlines for its unprecedented size, insiders say the situation is less about money and more about ensuring fair treatment under the law.

Vembu and his team have indicated they will continue to contest the bond while the legal proceedings move forward, aiming for a resolution that respects both parties’ rights.

Also Read: Alphabet beats Apple to become No. 2 company

Categories
Technology

Alphabet beats Apple to become No. 2 company

Alphabet Inc., the parent company of Google, has overtaken Apple Inc. to become the world’s second-most valuable company. The rise reflects strong investor confidence in Alphabet’s growth, especially in artificial intelligence (AI).

On January 8, 2026, Alphabet’s market value reached about $3.89 trillion, slightly above Apple’s $3.85 trillion. Alphabet’s shares continued to rise after this, while Apple’s slipped, confirming Alphabet’s new position in global rankings.

Despite Alphabet’s gain, Nvidia remains the world’s most valuable company, with a market capitalization of over $4.4 trillion, driven by its AI hardware and data center business.

Alphabet’s climb is largely due to its success in AI, including the Gemini 3 model and custom AI chips called TPUs. These technologies have helped Google expand from search and ads into cloud computing and AI services, attracting more investors. In 2025, Alphabet’s stock was one of the top performers among major tech companies.

Apple’s valuation has lagged because its AI efforts are slower, and investors are cautious about leadership changes. While Apple is adding AI features to its products, it has not yet matched Alphabet’s AI-driven growth.

AI is now a key factor in determining company value, and companies that lead in AI are attracting more investor attention. Alphabet’s new position highlights the importance of innovation in shaping the world’s biggest companies.

Also Read: Trump orders $200bn mortgage bonds to cut rates

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Beyond

Trump orders $200bn mortgage bonds to cut rates

US President Donald Trump has announced a plan for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage‑backed securities (MBS) to help lower mortgage rates and make housing more affordable. The announcement was made on his social media platform, Truth Social.

The plan aims to reduce monthly mortgage payments for homebuyers by increasing demand for mortgage bonds, which could push interest rates slightly lower. Trump said the government‑sponsored agencies have enough funds to carry out the purchases without using extra federal money. The Federal Housing Finance Agency (FHFA) confirmed that Fannie Mae and Freddie Mac will implement the plan, though details on timing and methods were not shared.

This move comes amid ongoing concerns about housing affordability. Mortgage rates, while slightly lower than last year, remain high, with the average 30‑year rate around 6.2%. Rising rates and a limited housing supply have made buying a home more difficult for many Americans.

Analysts have given mixed reactions. Some believe the plan could lower mortgage rates slightly, but others say $200 billion is a small part of the $11 trillion U.S. mortgage bond market and may have limited effect on overall housing costs. Questions have also been raised about the accuracy of Trump’s claims regarding the GSEs’ cash reserves.

The announcement follows other housing-related measures from the Trump administration, including proposals to limit institutional investors from buying single-family homes. Officials say this initiative is designed to help middle-class Americans afford homes and provide relief to the housing market ahead of economic challenges.

Also Read: RVNL wins Rs 201 cr East Coast railway project

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Corporate

RVNL wins Rs 201 cr East Coast railway project

Rail Vikas Nigam Limited (RVNL), a government-owned company under the Ministry of Railways, has received a Letter of Acceptance (LoA) from East Coast Railway for a project worth Rs 201.23 crore. The order involves setting up a Wagon Periodic Overhauling (POH) workshop at Kantabanji in Odisha.

The workshop will have the capacity to repair and overhaul 200 freight wagons. Wagon POH facilities are important for Indian Railways as they help maintain freight wagons, improve safety, and ensure smoother movement of goods across the rail network. Once completed, the new workshop is expected to strengthen freight operations in the eastern region.

According to RVNL’s regulatory filing, the total contract value is Rs 201.23 crore, excluding GST. The company has been declared the sole bidder for the project, meaning no other company qualified or matched its bid. The project is expected to be completed within 18 months from the date work begins.

RVNL stated that the order has been awarded in the normal course of business. It also clarified that the project does not involve any related-party transactions. The promoters and promoter group of RVNL have no financial or other interest in East Coast Railway.

This new order adds to RVNL’s existing order book and supports its role as a key company involved in railway infrastructure development in India. RVNL is known for executing projects such as new railway lines, track doubling, electrification, station redevelopment, major bridges, and railway workshops.

Despite the positive news, RVNL shares came under pressure in the stock market following the announcement. Market participants appeared cautious, even though the project improves the company’s long-term revenue visibility.

The Kantabanji wagon workshop is expected to help Indian Railways reduce delays in wagon maintenance and improve efficiency in freight movement. Freight traffic plays a crucial role in India’s logistics and supply chain, and such infrastructure projects are seen as important for supporting economic growth.

Also Read: OpenAI launches ChatGPT Health linking medical data

Categories
Beyond

US withdraws from 66 global bodies under Trump

The United States has announced its withdrawal from 66 international organisations, including several United Nations bodies and the India- and France-backed International Solar Alliance (ISA), marking a major shift in its approach to global cooperation. The decision follows a presidential directive issued by US President Donald Trump, citing the need to protect national interests, sovereignty and taxpayer money.

According to official statements, the list includes 31 UN-linked organisations and 35 non-UN bodies. These cover a wide range of areas such as climate change, renewable energy, social development, labour standards, peacebuilding and scientific cooperation. Among the prominent exits are climate-related platforms like the UN Framework Convention on Climate Change and the Intergovernmental Panel on Climate Change, along with the International Solar Alliance, which focuses on promoting solar energy in tropical countries.

The US administration has argued that many of these organisations are inefficient, overlap in their work, or promote policies that do not align with American priorities. Federal agencies have been instructed to end participation and funding in these bodies, subject to legal procedures, and to reassess international commitments going forward.

Supporters of the move say it allows the US to focus resources at home and avoid obligations they believe offer limited returns. However, the decision has triggered concern among diplomats, climate experts and global institutions. Critics warn that stepping away from multilateral platforms could weaken international efforts on climate action, public health, labour rights and conflict resolution.

There are also geopolitical implications. Analysts note that the US withdrawal may leave a leadership gap in several global forums, potentially allowing countries such as China to expand their influence by increasing funding and engagement. This concern has been highlighted particularly in the context of UN agencies and climate-related institutions.

India-led initiatives, including the International Solar Alliance, are expected to continue their work despite the US exit, but experts say reduced American participation could slow progress and funding momentum.

The move continues a broader trend seen under the Trump administration, which has previously questioned or withdrawn from major international agreements. As the withdrawals take effect, global partners are assessing how the absence of the US will impact international cooperation and whether existing institutions can adapt to a changing geopolitical landscape.

Also Read: UK may ban Elon Musk’s X over AI Deepfakes

Categories
Technology

UK may ban Elon Musk’s X over AI Deepfakes

The UK government is considering banning Elon Musk’s social media platform X (formerly Twitter) after its AI chatbot, Grok, was reported to produce sexualised and non-consensual images, including of minors. The issue has raised serious concerns under the UK’s Online Safety Act, which regulates illegal and harmful online content.

Prime Minister Sir Keir Starmer condemned the deepfake images, calling them “wrong” and “unlawful,” and urged X to take stronger action to remove harmful material. Reports suggest Grok has been used to digitally undress women and children or place them in sexualised poses, some of which could be illegal child sexual abuse material.

Under the Online Safety Act, regulators like Ofcom can impose fines, demand content removal, or even block access to platforms that fail to comply. The government has instructed Ofcom to explore “all options,” including a possible ban on X if urgent corrective measures are not taken.

The controversy has also drawn attention from the Internet Watch Foundation, which highlighted that some illegal content generated by Grok appeared on dark web forums. Officials are now discussing stricter rules for AI tools that create non-consensual intimate images, with potential criminal penalties for those who produce or share them.

X has responded that users who request illegal content from Grok will face the same consequences as those who directly upload such material, including suspensions or account bans. However, critics argue that this may not be enough, given the scale of AI-generated deepfakes circulating online.

Also Read: OpenAI launches ChatGPT Health linking medical data

Categories
Corporate

SEBI plans 30‑day delay for stock data use in education

The Securities and Exchange Board of India (SEBI) has proposed a 30‑day delay for sharing and using stock market price data in educational content. The aim is to prevent misuse of live market prices while still allowing investors to learn from recent market trends.

Currently, exchanges and market intermediaries can share data with a one‑day delay, but educational content often uses data that is three months old. SEBI said this difference creates confusion and could let some use near real-time data improperly, which should normally require registration as investment research or advisory.

The new proposal would standardize the delay to 30 days for both sharing and using data. SEBI said this is enough to protect sensitive market information while keeping educational material meaningful. Existing rules on prohibited activities will still apply, and entities focused only on education must continue to follow them.

The regulator has opened the proposal for public comments until January 27, 2026, before finalizing the rules. SEBI’s move comes after concerns that some online platforms and educators were misusing live market data under the guise of teaching investors.

By setting a uniform 30‑day delay, SEBI aims to tighten safeguards around stock price data, reduce confusion, and support credible and safe investor education across India.

This proposal is part of SEBI’s broader efforts to balance market transparency with investor protection, making sure educational content is helpful without allowing it to be used as a shortcut to trade on inside or real-time information.

Also Read: Rekha Jhunjhunwala’s Titan stake hits ₹20,000 crore

Categories
Leaders

Rekha Jhunjhunwala’s Titan stake hits ₹20,000 crore

Rekha Jhunjhunwala’s investment in Titan Company Ltd has crossed the ₹20,000 crore mark, following a sharp rise in the company’s share price to record levels. The surge comes after Titan reported strong quarterly performance, reaffirming investor confidence in the Tata Group-owned company.

Titan shares climbed over 4 percent, hitting an intraday high of around ₹4,300 on the BSE. This rally significantly boosted the value of Jhunjhunwala’s 5.32 percent stake, underscoring the wealth creation potential of long-term holdings in India’s blue-chip companies.

The growth momentum was led by Titan’s jewellery business, which includes brands such as Tanishq, Mia, Zoya, and CaratLane. The division saw a remarkable 41 percent year-on-year increase, fueled by strong festive season demand, rising premiumisation, and a growing retail footprint. Gold coin sales nearly doubled, while studded jewellery saw solid double-digit growth. Titan also expanded internationally, targeting markets in the Gulf, Singapore, and North America.

Other segments of Titan’s diversified portfolio also contributed to the positive performance. The watches division grew by over 13 percent, while eyewear and fragrances continued to see steady gains. Titan’s omni-channel approach, combining physical stores and online presence, helped sustain consumer demand beyond the holiday season.

Market analysts have praised Titan’s growth strategy and operational execution. Brokerage Nomura reaffirmed a Buy rating, highlighting the company’s potential to outpace industry growth and capture further market share.

The rise in Titan’s stock demonstrates how consistent performance, strong brand equity, and strategic expansion translate into tangible investor value. For Rekha Jhunjhunwala, the milestone is a reflection of patience and faith in one of India’s most trusted consumer brands, illustrating the power of long-term investment in creating significant wealth.

Also Read: Venezuela to send 30–50 mn barrels of oil to US

Categories
Corporate

Reliance shares slide over 4%

Reliance Industries Ltd (RIL) shares fell sharply, losing over 4 per cent in a single session, as investors reacted to concerns around the company’s crude oil sourcing strategy and rising uncertainty in the retail sector. The stock ended near ₹1,507, marking its steepest one-day decline in several months and wiping out close to ₹1 lakh crore from the company’s market capitalisation.

The immediate trigger for the sell-off was Reliance’s confirmation that it has not received Russian crude oil at its Jamnagar refinery for nearly three weeks and does not expect any deliveries in January. Russian oil had become an important source for Indian refiners over the past two years due to discounted prices. The halt has raised questions about future refining margins and supply stability, especially amid tighter Western sanctions and geopolitical pressures.

Market sentiment was further dented by concerns emerging from the retail sector. Weak updates from listed retail players have sparked fears of slowing consumer demand and margin pressure. Investors worry that similar challenges could impact Reliance Retail, which is a key growth engine for the conglomerate and a major driver of its valuation.

Analysts also pointed out that the sharp fall may partly reflect profit-booking. Reliance shares had risen strongly over the past year, outperforming the benchmark indices. With valuations at elevated levels, any negative trigger was likely to prompt investors to lock in gains.

The decline in Reliance shares weighed heavily on the broader market, dragging both the Sensex and Nifty lower due to the stock’s significant index weight. Market participants noted that sentiment turned cautious as uncertainty around global trade, crude prices and domestic consumption trends increased.

Looking ahead, analysts remain divided on the near-term outlook. While some expect continued volatility due to oil sourcing risks, retail sector pressure and global macro concerns, others believe Reliance’s long-term fundamentals remain intact. Potential triggers such as a future listing of Jio Platforms, tariff hikes in telecom services and stable refining margins could support the stock over time.

Also Read: Gold rises ₹1,38,830, Silver up by ₹2,53,100

Categories
Corporate

Unnati acquires Gramophone, Info Edge invests ₹35 cr

Unnati, an agritech startup co‑founded by former Paytm CFO Amit Sinha, has announced the acquisition of Gramophone, a digital platform that helps farmers buy seeds, fertilizers, nutrients, and equipment. The deal is structured as a stock‑swap transaction, where Info Edge (India) Ltd, Gramophone’s major investor, will transfer its entire stake in Gramophone to Unnati in exchange for shares in the combined entity.

Info Edge’s wholly-owned subsidiary, Startup Investments (Holding) Ltd (SIHL), currently holds just over 50.94% of Gramophone on a fully diluted basis. Under the agreement, SIHL will receive preference shares in Unnati representing about 15.7% of the merged company. In addition, Info Edge will invest ₹35 crore in fresh capital into Unnati, raising its stake in the company to around 20.5%, which is expected to settle at approximately 18.48% after shares are allotted to other Gramophone shareholders.

The transaction values Gramophone at roughly ₹92 crore, based on a per-share price of ₹2,703. Gramophone reported revenues of ₹67 crore for the financial year ended March 2025. Unnati, which focuses on distributing agricultural inputs and providing farmer financing, reported revenue of ₹291 crore during the same period, though it recorded a net loss of nearly ₹18 crore.

The merger aims to create a stronger digital agritech platform by combining Unnati’s distribution and financing capabilities with Gramophone’s marketplace and advisory services for farmers. This consolidation reflects a growing trend in India’s agritech sector, where startups are seeking scale and synergies to better serve the farming community.

The deal has received approval from the boards of both companies and is expected to close within 90 days, subject to customary approvals and regulatory conditions. By joining forces, Unnati and Gramophone hope to expand their reach across India, providing farmers with easier access to quality agricultural inputs, timely credit, and expert guidance, while creating a more integrated and efficient supply chain.

Also Read: AMD unveils new AI, PC chips at CES, Las Vegas