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RBI says most ₹2,000 notes returned, still legal tender

The Reserve Bank of India has said that most ₹2,000 currency notes withdrawn from circulation have already come back to the banking system.

As per RBI’s latest update, over 98 per cent of these high-value notes have been deposited or exchanged, with only a small amount still held by the public. The central bank clarified that ₹2,000 notes continue to be legal tender and can still be deposited at RBI issue offices or sent through India Post.

The note was withdrawn in May 2023 to improve currency circulation, not due to demonetisation.

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Beyond

RBI projects 4.2% inflation in FY27

India’s inflation is expected to gradually rise toward more normal levels over the next year, but without causing stress to the economy, according to the Reserve Bank of India (RBI). The central bank’s latest projections show that consumer price inflation is likely to hover around 4% in FY2026–27, a level the RBI considers ideal for sustainable growth.

Speaking after the Monetary Policy Committee’s recent review, RBI Governor Sanjay Malhotra said the modest rise in inflation reflects improving economic activity rather than runaway price pressures. For the current financial year, inflation is expected to remain low at about 2.1% on average, before inching up to around 3.2% in the final quarter as demand strengthens.

Looking ahead, the RBI expects inflation to average about 4.0% in the first quarter of FY27 and 4.2% in the second quarter. This upward revision, the central bank explained, is driven by normalisation in food prices, steady domestic demand, and global commodity trends. Importantly, inflation is still projected to stay well within the RBI’s comfort band of 2% to 6%.

Against this backdrop, the RBI chose to keep the repo rate unchanged at 5.25% and maintain a neutral policy stance. This decision is aimed at supporting economic growth while remaining alert to any risks to price stability. Stable interest rates help keep borrowing costs predictable for households and businesses.

For consumers, this means prices of everyday essentials are likely to rise slowly and steadily, rather than sharply. For businesses, steady inflation and unchanged rates provide confidence to plan investments, expand operations, and hire more people. Economists say this environment supports sustained growth without overheating the economy.

The RBI also said it will closely monitor food prices, global oil markets, precious metals, and geopolitical developments that could affect inflation going forward.

Also Read: Gold above ₹1.50 lakh, Silver dips to ₹2.35 lakh

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Corporate

Sensex slips 300+ points, Nifty dips below 25,550

Indian markets opened on a weak note on Friday, with the BSE Sensex falling over 350 points and the Nifty50 slipping below 25,550. Investors stayed cautious after the RBI kept interest rates unchanged at 5.25%, while global tech sell-offs and profit-taking added to the downward pressure.

IT stocks led the losses, with TCS and Infosys falling nearly 2%, and all ten Nifty IT constituents trading in the red. Metals and energy stocks, including Tata Steel and NTPC, also saw declines, further weighing on the market.

On the upside, Pharma and FMCG stocks gained as investors sought safer bets amid volatility. Companies like Sun Pharma, Divi’s Labs, and Hindustan Unilever posted modest gains, helping to partially cushion the broader market’s fall.

Global markets influenced domestic trading. Technology shares faced selling pressure in the US and Asia, while futures tied to the S&P 500 were lower, reinforcing the risk-off sentiment. Precious metals like gold and silver extended losses due to a stronger US dollar and weaker global demand.

Market participants are now focusing on upcoming corporate earnings and economic data for fresh cues. While the RBI’s policy was neutral, continued weakness in IT and metals, alongside gains in Pharma and FMCG, is likely to keep trading cautious in the near term.

Also Read: IndiGo faces CCI probe after ₹22 cr flight disruptions

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Technology

Anthropic’s AI Agents raise market concerns for Indian IT

US AI startup Anthropic has introduced Claude Cowork, an advanced AI agent platform capable of automating complex business tasks. Using smart plugins, these AI agents can manage legal document review, data analysis, and marketing workflows, performing end-to-end processes that previously required human expertise and specialised software.

The launch has caused alarm among investors, raising fears of a significant disruption in the Software-as-a-Service (SaaS) sector — now being referred to as the “SaaSapocalypse.” Analysts are concerned that companies may increasingly bypass traditional software licences and human-driven IT services, potentially affecting revenues for major IT firms.

The market impact was immediate. Global software stocks experienced sharp declines following the announcement. In India, IT leaders such as TCS, Infosys, Wipro, HCLTech, and LTIMindtree saw significant share price drops, with the NIFTY IT index falling 6–7%, marking one of its steepest losses in recent years.

Experts warn that AI agents performing routine tasks could reduce demand for labour-intensive IT services, putting traditional revenue models based on headcount or SaaS subscriptions at risk. Software offerings may face pricing pressure or even obsolescence if companies rapidly adopt AI-driven alternatives.

Looking ahead, Indian IT companies are expected to pivot toward high-value, specialised services, including strategic advisory, complex system integration, and consulting projects where AI replacement is less immediate.

Also Read: BlackRock CEO says India should boost capital markets

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1 Minute-Read

Boeing to slash 300 defence division jobs

Boeing plans to cut around 300 jobs in its defence division, primarily affecting supply-chain positions across multiple U.S. sites. Employees will be notified this week.

The move is part of broader workforce adjustments as the company aligns staffing with business needs. Boeing emphasized it continues to recruit in other areas, with over 1,300 open positions available, and some laid-off employees may be offered alternative roles within the company.

The job reductions coincide with Boeing shifting some commercial aircraft engineering work to different locations.

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Corporate

Trent Q3 profit rises to ₹217 cr, revenue up 15%

Trent Ltd, the Tata Group retailer behind Westside, Zudio, and other brands, reported higher profit and revenue for the third quarter of the 2025‑26 financial year, though analysts cautioned that growth at existing stores could remain under pressure.

For the quarter ending December 31, 2025, Trent’s consolidated revenue rose about 15% to ₹5,345 crore, up from ₹4,657 crore a year ago. Net profit increased nearly 3% to ₹513 crore, compared with ₹497 crore in the same period last year. On a standalone basis, profit grew 36% to ₹640 crore, while revenue rose about 16%, reflecting stronger performance in the company’s core operations.

The company continued expanding its store network, adding 17 Westside and 48 Zudio outlets during the quarter, including its first Zudio store in the UAE. By December 2025, Trent operated over 1,100 stores across 274 cities, with Westside accounting for 278 stores and Zudio for 854, covering more than 15 million square feet of retail space.

Management said gross margins remained stable across both chains, and customer spending improved following economic measures such as tax cuts. Some one-time costs related to labour code changes slightly reduced overall profit.

Investor response was mixed. Trent’s shares rose modestly after the results, but brokerages highlighted that same-store sales,  sales at existing outlets,  may face pressure, creating uncertainty about future growth. While some analysts pointed to operational efficiencies and margin gains as positives, others urged caution due to slower growth compared with earlier quarters.

Also Read: Novo Nordisk sheds $50 bn as 2026 sales weak outlook

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Corporate

Novo Nordisk sheds $50 bn as 2026 sales weak outlook

Novo Nordisk, the Danish pharmaceutical major behind popular weight-loss and diabetes drugs Wegovy and Ozempic, saw its market value drop by nearly $50 billion after it issued a weaker-than-expected outlook for 2026. The guidance raised concerns about slowing growth and led to a sharp sell-off in the company’s shares.

The company said it expects sales to fall between 5% and 13% in 2026, marking a significant slowdown after years of strong growth driven by global demand for obesity and diabetes treatments. The forecast came in well below market expectations and highlighted growing challenges in key markets, especially the United States.

Following the announcement, Novo Nordisk’s shares plunged about 16% on the Copenhagen exchange, while its US-listed stock fell more than 14%. The decline erased tens of billions of dollars in market capitalisation and marked one of the company’s steepest single-day losses in recent years.

Novo Nordisk attributed the weaker outlook mainly to pricing pressure in the US, where policy measures aimed at lowering drug costs are expected to impact revenues. The company is also facing intensifying competition, particularly from rival drugmaker Eli Lilly, which has gained momentum with its own obesity and diabetes medicines.

Another concern is the approaching patent expiries of some products in select international markets, which could open the door to cheaper alternatives and weigh on future sales. Together, these factors are expected to offset continued demand growth for GLP-1 drugs.

In its latest quarterly results, Novo Nordisk reported moderate performance. Sales of Wegovy rose by around 17% year-on-year, while Ozempic sales remained largely flat. Although the results broadly met expectations, investor focus remained firmly on the weaker forward guidance.

Company executives acknowledged that 2026 will be challenging but stressed confidence in the long-term outlook for obesity and diabetes care. Novo Nordisk said it will continue to invest in innovation, manage costs tightly and strengthen its product pipeline to protect growth over time.

Also Read: Washington Post in limelight after massive newsroom layoffs

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Corporate

Washington Post in limelight after massive newsroom layoffs

The Washington Post has come into the global spotlight after carrying out one of the largest newsroom layoffs in its history, affecting more than 300 journalists. The job cuts have drawn widespread attention as they include well-known reporters and international correspondents, raising concerns about the future of global journalism.

Among those laid off is Ishaan Tharoor, a senior international affairs columnist and son of Indian MP Shashi Tharoor. Ishaan had spent 12 years at the newspaper and was known for his widely read column WorldView, which explained complex global issues in simple terms for readers around the world.

Following the layoffs, Ishaan described the moment as heartbreaking and said he was deeply saddened for his colleagues, many of whom had worked together for years. Several other journalists also took to social media to share their shock and disappointment, calling the cuts a major blow to international reporting.

Reports suggest that the restructuring has hit the international desk the hardest, with multiple foreign bureaus being closed. The newspaper has also reduced or shut down coverage of sports and books, signalling a sharp shift in editorial priorities.

Owned by Amazon founder Jeff Bezos, The Washington Post said the layoffs were part of efforts to adapt to a rapidly changing media environment. Like many legacy media organisations, the paper is facing challenges such as declining advertising revenue, digital competition and changing reader habits.

The developments have triggered a strong reaction from media professionals and readers alike, with many expressing concern that such deep cuts could weaken independent journalism and reduce in-depth global coverage. As an institution known for investigative reporting and democratic values, The Washington Post now finds itself at the centre of a wider debate about the future of quality journalism in the digital age.

Also Read: Nintendo stock slides 11% on Q3 profit miss

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Technology

Nintendo switch tops sales record

What began as an unusual idea to mix home and handheld gaming has turned into a historic success. Nintendo’s Switch console has now become the best-selling device in the company’s long history, crossing 155 million units sold worldwide.

Launched in 2017, the Switch stood out by allowing players to game on a television or carry the same console on the go. That flexibility struck a chord with families, casual players and long-time fans alike. During the COVID-19 lockdowns, when people were spending more time indoors, the Switch became a source of comfort and connection for millions.

Its success was powered by games that felt familiar yet fresh. Titles from iconic franchises such as Mario, The Legend of Zelda, Pokémon and Mario Kart kept players coming back year after year. Parents played alongside children, and seasoned gamers rediscovered the joy of simple, fun gameplay.

With this milestone, the Switch has overtaken the Nintendo DS, which previously held the company’s sales record. However, it still trails Sony’s PlayStation 2, which remains the world’s best-selling console overall.

Nintendo is now looking to the future. Its newer console, the Switch 2, launched in 2025 and has already seen strong early demand, selling around 17 million units in just a few months. While matching the original Switch’s success may be challenging, the early response has been encouraging.

Industry experts say Nintendo’s story shows how innovation, nostalgia and timing can come together to create something lasting, not just a console, but a shared experience enjoyed across generations.

Also Read: Rupee strengthens to 90.40 against dollar

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Corporate

Nintendo stock slides 11% on Q3 profit miss

Nintendo’s shares fell sharply by around 11% after the Japanese gaming giant reported disappointing third-quarter earnings, triggering concerns about shrinking profit margins despite strong hardware sales.

For the quarter ended December 31, 2025, Nintendo’s operating profit came in below market expectations, even as revenue rose sharply year-on-year. The company benefited from robust demand for its newly launched Switch 2 console, which has already sold more than 17 million units, making it Nintendo’s fastest-selling console to date. However, higher production costs reduced overall profitability.

Investors were particularly worried about rising component costs, especially memory chips, which are squeezing margins on hardware sales. Analysts noted that while Nintendo has priced the Switch 2 competitively to drive volumes, this strategy has limited its ability to generate higher profits from console sales.

Concerns were also raised about the software pipeline, with fewer blockbuster game launches expected in the near term. Strong game releases are critical for improving margins, as software typically delivers higher profits than hardware. Without a steady flow of major titles, analysts fear Nintendo may struggle to maintain earnings momentum.

Adding to investor disappointment, Nintendo maintained its full-year profit forecast, which remains below market estimates. The lack of an upgrade signalled management caution about the months ahead, even after a strong holiday sales season.

The sharp fall in Nintendo’s stock pushed it to its lowest level since April 2025 and weighed on broader market sentiment. Analysts said the reaction reflects growing scepticism over whether Nintendo can balance volume growth with profitability in a competitive and cost-inflationary environment.

Despite the sell-off, some market watchers remain positive on Nintendo’s long-term prospects, citing its strong brand, loyal customer base and successful console launch.

Also Read: Nintendo switch tops sales record