Author: Sreelatha M

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Leaders

Kevin Warsh becomes US Federal Reserve Chair

Kevin Warsh has been sworn in as the new Chair of the Federal Reserve System, taking over leadership of the US central bank at a time of heightened economic uncertainty and shifting monetary policy expectations.

His appointment marks a significant transition in US economic leadership. Warsh, who previously served as a governor of the Federal Reserve, returns with prior experience in managing financial stability issues and guiding monetary responses during periods of economic stress.

As chair, he will oversee the Federal Reserve’s core responsibilities, including setting benchmark interest rates, managing inflation, and ensuring stability in the banking system. His leadership comes as policymakers continue to balance inflation control with concerns over economic growth and employment.

In his first remarks after being sworn in, Warsh emphasized the importance of maintaining price stability as a priority while still supporting long-term economic expansion. He is widely expected to adopt a more cautious stance on interest rate cuts, with a stronger focus on controlling inflation before easing monetary conditions.

Financial markets are closely watching his appointment, as changes in Fed leadership often influence investor expectations around borrowing costs, currency movements, and equity market trends.

Also Read: Airbnb expands beyond home stays with new travel services

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Corporate

Adani Ports to buy Jaypee fertilizers for ₹1,500 cr

Adani Ports and SEZ is set to acquire Jaypee Fertilizers and Industries for about ₹1,500 crore through the insolvency resolution process, according to reports. The acquisition is part of ongoing efforts to resolve stressed assets under India’s bankruptcy framework.

The deal involves taking over the fertilizer assets of the Jaypee Group, which have been under insolvency proceedings due to financial stress. The transaction has been approved through the formal bidding and resolution mechanism under the Insolvency and Bankruptcy Code.

The acquisition is expected to strengthen Adani Ports’ diversification into industrial and logistics-linked businesses beyond its core port operations. The group has been steadily expanding its presence across infrastructure, energy, and manufacturing sectors through strategic acquisitions.

Jaypee Fertilizers operates facilities that are important for chemical and fertilizer production, which are closely linked to agricultural supply chains. The acquisition could help improve operational efficiency and bring in stronger financial backing for the assets.

Industry observers say the deal reflects the continued consolidation of stressed assets in India, with large conglomerates stepping in to acquire and restructure struggling companies. The insolvency framework has enabled faster resolution of such assets, helping revive operations and protect value.

For Adani Ports, the move is seen as part of a broader strategy to build an integrated infrastructure and industrial ecosystem. The group has been actively acquiring assets that complement its logistics, energy, and manufacturing ambitions.

Also Read: Dalmia Bharat buys JAL cement assets for ₹2,850 cr

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Corporate

Dalmia Bharat buys JAL cement assets for ₹2,850 cr

Dalmia Bharat has acquired cement assets of Jaiprakash Associates (JAL) from the Adani Group-led insolvency process in a deal worth ₹2,850 crore, marking a fresh consolidation move in India’s cement sector.

The acquisition has been executed through Dalmia Cement (Bharat), a wholly owned subsidiary of Dalmia Bharat. The deal includes cement plants located in Rewa (Madhya Pradesh) and Churk, Chunar and Sadwa (Uttar Pradesh).

According to the company and regulatory updates, the transaction adds around 5.2 million tonnes per annum (MTPA) of cement capacity and strengthens Dalmia Bharat’s presence in central India, one of its key growth markets.

The package also includes 3.3 MTPA of clinker capacity, along with supporting infrastructure such as a 99 MW thermal power plant and railway sidings used for transportation and logistics. These assets are expected to improve operational efficiency and supply chain connectivity.

The deal has been carried out as part of the insolvency resolution process of Jaiprakash Associates, whose assets were taken over by the Adani Group under the Insolvency and Bankruptcy Code framework. Dalmia Bharat was among the bidders in the resolution process and has now successfully concluded the acquisition after regulatory clearances.

This acquisition will help Dalmia Bharat expand production capacity by nearly 10% and improve its competitive position in the fast-growing cement market. The company has been steadily increasing its footprint through acquisitions to strengthen its presence across key regions.

The transaction is also seen as part of broader consolidation in the cement industry, where major players are acquiring stressed assets to scale up capacity and reduce regional imbalances in production.

Also Read: SpaceX postpones Starship test launch

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SpaceX postpones Starship test launch

SpaceX has postponed the launch of its Starship Flight 12, delaying the debut of the upgraded Starship V3 rocket. The launch, planned from Starbase in Texas, has now been rescheduled for Friday after a technical issue during final preparations.

The mission marks the first test of the latest Starship version, which includes major upgrades in design, power and reusability. Before the delay, SpaceX completed key checks, including rocket stacking and a full fuel loading test.

The test flight will focus on system validation rather than completing a full orbital mission.

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Corporate

Airbnb expands beyond home stays with new travel services

Airbnb is expanding its business beyond traditional home rentals by introducing new travel services and experiences aimed at giving users more options while planning trips. The company announced that it will now include boutique hotels, additional travel-related services and exclusive experiences linked to FIFA events on its platform.

The move marks a broader shift in Airbnb’s strategy as it seeks to become more than just an accommodation booking service. Instead of focusing only on homes and vacation rentals, the company is trying to create a more complete travel platform where users can organise multiple parts of a trip in one place.

Among the new additions are boutique hotel listings that will offer travellers a wider range of stay options. This could appeal to users who want hotel-style services while still looking for unique or local travel experiences.

Airbnb is also introducing expanded travel services designed to make trips more personalised. These offerings may include activities and services that help travellers plan and enhance their journeys beyond accommodation alone.

The company has also partnered with FIFA to offer exclusive football-related experiences for fans. The initiative is expected to provide users with opportunities linked to major football events and fan activities, adding another layer to the travel experience.

Also Read: Google introduces Gemini for science

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Leaders

Tata Communications gets new MD, CEO

Tata Communications has announced a major leadership change with the appointment of Ganapathi S. Lakshminarayanan as its new Managing Director and Chief Executive Officer. The appointment marks an important transition for the company as it looks to strengthen its position in digital infrastructure and technology-led services.

Lakshminarayanan will take charge for a five-year term and is expected to guide the company through its next stage of business expansion. The leadership change comes at a time when enterprises across industries are increasing investments in cloud technology, artificial intelligence, cybersecurity and digital transformation solutions.

The newly appointed CEO brings more than three decades of experience in the technology and telecom sectors. Over the years, he has worked across business operations, customer management and digital services, handling leadership responsibilities in large organisations. His professional background includes experience in enterprise technology businesses and large-scale transformation projects.

Lakshminarayanan succeeds former Managing Director and CEO A. S. Lakshminarayanan, who led the company through a period of strategic transformation and expansion. During his tenure, Tata Communications accelerated efforts to position itself as a provider of digital ecosystem solutions rather than a traditional connectivity company.

The organisation has been increasing its focus on areas such as cloud networking, managed services, data solutions and AI-powered technologies to drive future growth.

Also Read: RBI unveils $5 bn swap auction to support rupee

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Beyond

Gold crosses ₹1lakh, Silver near ₹2.85 lakh

Gold prices continued to remain high across Indian markets on Friday, keeping both investors and jewellery buyers focused on the bullion market. The price of 24-carat gold was around ₹1.64 lakh per 10 grams, while 22-carat gold was trading near ₹1.51 lakh per 10 grams. Silver prices also witnessed movement during the day, reflecting continued volatility in the precious metals segment.

While price changes during the session were limited, gold has remained at elevated levels over the past few weeks. For many consumers planning jewellery purchases, especially for weddings and special occasions, higher prices have resulted in more cautious buying decisions. Several buyers are choosing to wait and watch in the hope of more stable rates.

Silver, meanwhile, followed a mixed trend. Unlike gold, silver prices are influenced not only by investment demand but also by industrial usage. The metal is widely used in sectors such as electronics, renewable energy and manufacturing, making it more sensitive to changes in economic activity.

Gold traditionally attracts attention during periods of uncertainty, as many investors consider it a safer investment option. Changes in the value of the US dollar and fluctuations in international commodity markets also continue to influence domestic prices.

Jewellers said customer enquiries remain active, but purchasing patterns have become more cautious because of high rates. While demand has not disappeared, many consumers are taking a wait-and-see approach before making large purchases.

Also Read: Sensex gains over 300 points, Nifty crosses 23,750

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Corporate

Sensex down 135 points, Nifty below 23,700

Indian equity markets extended their upward momentum on Thursday, with strong buying across key sectors pushing benchmark indices higher. The Sensex fell 135 points during trade, while the Nifty remained comfortably above the 23,700 level.

The rally was driven by improved global sentiment, expectations of stable crude oil prices, and steady domestic institutional inflows. Broader markets also joined the uptrend, with mid-cap and small-cap indices trading in the green.

Among the top gainers, ITC Limited saw strong buying interest as investors tracked steady performance in its FMCG and cigarette businesses. Nykaa also gained traction, supported by optimism in the consumer and retail sector.

On the losing side, select IT and metal stocks witnessed profit booking. Heavyweights like Infosys and Tata Steel came under mild pressure as traders locked in gains after recent rallies. However, the weakness was limited and did not impact the overall market trend.

Experts added that ongoing strength in select sectors, along with improving macroeconomic signals, is helping sustain the rally, even as investors remain cautious about global interest rate and geopolitical developments.

Analysts said domestic institutional inflows continued to support the market, while foreign investor participation remained stable. Short-term volatility persisted due to global cues, but sentiment stayed broadly positive.

Also Read: Lenskart profit dips in Q4 despite 46% revenue jump

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Australia unemployment rises to highest level

Australia’s unemployment rate rose to its highest level since 2021 in April, according to official data, signalling a cooling labour market. The jobless rate increased as employment growth slowed and fewer new jobs were added compared to previous months.

Analysts said the rise reflects weaker hiring momentum across several sectors, even though the overall economy remains stable.

The data suggests that employers are becoming more cautious amid global economic uncertainty and higher interest rates. Despite the uptick in unemployment, participation in the labour force remained steady, indicating continued interest in jobs among workers across the country.

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Corporate

Dr Reddy’s launches oral semaglutide diabetes tablets in India

Dr Reddy’s Laboratories has launched oral semaglutide tablets in India, giving patients a new and more convenient option for managing type 2 diabetes. The medicine belongs to the GLP-1 class of drugs, which are widely used to control blood sugar levels and also help with weight management.

The company is offering the drug under the brand name Obeda. Unlike most GLP-1 treatments that require injections, this version comes in tablet form, which is expected to be easier for many patients who are uncomfortable with needles or long-term injections.

Dr Reddy’s has priced each tablet at around ₹99, positioning it as a more affordable alternative to imported or branded versions currently available in the market. The company said the goal is to improve access to modern diabetes care for a larger section of patients in India, where diabetes cases continue to rise sharply.

Semaglutide works by mimicking a natural hormone in the body that helps regulate insulin, control appetite, and slow digestion. This helps lower blood sugar levels and can also support weight loss in many patients, making it one of the most in-demand treatments globally for type 2 diabetes.

Doctors say GLP-1 medicines have become increasingly important in recent years because they not only manage diabetes but also address related conditions like obesity, which often goes hand in hand with it. However, the high cost of such drugs has limited their reach in many countries, including India.

The introduction of an oral version is expected to improve acceptance among patients, especially those who prefer tablets over injections. Health experts believe this could encourage more people to stick to long-term treatment plans.

The company plans to make the tablets available through pharmacies across India, but only with a doctor’s prescription. Medical professionals have also cautioned that the drug should be taken under proper supervision, as dosage and suitability depend on individual health conditions.

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