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Jerome Powell defends Fed Independence

Outgoing US Federal Reserve Chair Jerome Powell has strongly defended the independence of central banks, saying monetary policy decisions should be guided by economic data rather than political pressure.

His remarks come amid repeated criticism from US President Donald Trump over interest rate decisions. Powell said an independent Federal Reserve is essential for controlling inflation, maintaining financial stability and preserving public trust.

He warned that political interference could undermine the credibility of central banks and weaken market confidence. Powell’s comments are seen as a final appeal to protect the Fed’s autonomy as he prepares to leave office.

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Beyond

RBI likely to hold rates in policy review

The Reserve Bank of India (RBI) is expected to keep key interest rates unchanged at its upcoming monetary policy meeting as policymakers balance inflation risks against the need to support economic growth.

Economists and market analysts believe the central bank is likely to maintain the repo rate, citing persistent inflationary pressures and uncertainty in the global economic environment. While inflation has moderated from recent highs, concerns remain over food prices, crude oil costs and potential supply disruptions.

The RBI has focused on bringing inflation within its target range while ensuring that economic growth remains on track. Analysts say recent developments, including rising global crude oil prices and geopolitical tensions, could complicate the inflation outlook in the months ahead.

Although India’s economy continues to show resilience, policymakers are expected to remain cautious before making any significant changes to interest rates. Experts note that inflation risks have not completely eased, making it difficult for the central bank to consider aggressive rate cuts.

Food inflation remains a key concern, particularly as weather conditions and supply-side factors continue to influence prices. Any sustained increase in commodity or energy costs could add pressure to consumer prices and affect the broader economy.

At the same time, economic growth has remained relatively strong, supported by government spending, private consumption and investment activity. This has reduced the urgency for immediate monetary easing, according to analysts.

Some economists believe the central bank could consider policy easing later in the year if inflation continues to soften and growth conditions warrant additional support. However, most expect the RBI to maintain its current stance for now.

The decision comes at a time when several global central banks are also weighing inflation risks against growth concerns. As a result, policymakers in India are likely to prioritise price stability while keeping a close watch on domestic and international economic developments.

Market participants are closely watching the RBI’s updated inflation and growth forecasts for clues about the future policy path. Investors will also look for comments on global developments, including oil prices and international trade conditions.

Also Read: Asian Paints gains 4% after Q4 results

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Technology

Nvidia teams up with Microsoft on new PC chip

Nvidia has introduced a new processor for Windows laptops, deepening its presence in the rapidly expanding artificial intelligence PC market. The chip, developed in partnership with Microsoft, is expected to power a new line of AI-focused laptops from major manufacturers including Dell and HP.

The processor is designed to bring advanced AI capabilities directly to personal computers, enabling users to run complex AI applications without relying heavily on cloud services. The technology is expected to improve performance in areas such as content creation, productivity, language translation, virtual assistants and other AI-driven tasks.

The launch comes as technology companies increasingly focus on integrating artificial intelligence into consumer devices. Industry leaders believe AI-powered PCs could become the next major growth segment in the personal computing market, driving demand for more powerful and efficient processors.

Microsoft has been encouraging hardware partners to develop devices capable of supporting advanced AI features within the Windows ecosystem. Nvidia’s latest offering aligns with that strategy and expands the range of AI hardware available to PC makers.

Dell and HP are among the first companies expected to introduce laptops powered by the new processor. These devices are likely to feature enhanced AI performance, improved energy efficiency and faster processing for AI-related workloads.

The announcement also reflects Nvidia’s broader effort to diversify beyond its dominant position in data centre and graphics processing markets. The company has emerged as a leading player in artificial intelligence infrastructure, and the latest chip represents an attempt to bring that expertise to everyday consumer devices.

With the launch of its new Windows-focused processor, Nvidia is positioning itself at the centre of the evolving AI computing landscape. The company hopes the technology will help drive a new generation of personal computers built around artificial intelligence capabilities.

The move could intensify competition in the AI PC segment, where several chipmakers are seeking to establish an early advantage. As more software applications incorporate artificial intelligence features, demand for specialised processors is expected to rise.

Also Read: Wockhardt jumps 14% on USFDA nod for Zaynich

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Beyond

Commercial LPG gets costlier, domestic rates unchanged

Commercial LPG cylinder prices have been increased from June 1, bringing higher fuel costs for hotels, restaurants and other businesses that depend on cooking gas for daily operations. However, domestic LPG cylinder prices have remained unchanged, providing relief to household consumers.

According to the latest revision by oil marketing companies, the price of a 19-kg commercial LPG cylinder has been raised by around Rs 24 across major cities. In Delhi, the retail selling price of a commercial cylinder now stands at Rs 1,747.50, up from the previous level. Similar price increases have been announced in Mumbai, Kolkata and Chennai.

The revision comes after a series of fluctuations in commercial LPG rates over the past few months. Commercial cylinder prices are reviewed regularly based on international fuel prices and changes in foreign exchange rates. Industry experts say the latest increase reflects movements in global energy markets and higher input costs.

While businesses will have to bear the impact of the latest hike, domestic consumers have been spared any additional burden. The price of the standard 14.2-kg domestic LPG cylinder has not been changed in the latest revision. Household cooking gas rates continue to remain at existing levels across the country.

The increase in commercial LPG prices is expected to affect sectors such as hospitality, catering and food services. Restaurant owners and small food businesses may face higher operating expenses, which could eventually influence menu prices if fuel costs remain elevated for an extended period.

Also Read: Wockhardt jumps 14% on USFDA nod for Zaynich

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Corporate

Wockhardt jumps 14% on USFDA nod for Zaynich

Wockhardt shares surged nearly 14% on Monday after the company received approval from the US Food and Drug Administration (USFDA) for its novel antibiotic, Zaynich.

The drug, scientifically known as zoliflodacin, has been approved for the treatment of uncomplicated gonorrhoea, a common sexually transmitted bacterial infection. The approval is significant as Zaynich belongs to a new class of antibiotics and is designed to address the growing challenge of antimicrobial resistance.

The USFDA clearance marks a major milestone for Wockhardt, which has invested heavily in research and development of innovative anti-infective therapies. The company said the approval is the result of years of scientific research and clinical development.

Zaynich is being seen as an important breakthrough because it is among the first new treatment options for gonorrhoea in decades. Health experts have repeatedly highlighted the need for new antibiotics as resistance to existing treatments continues to rise globally.

Investors welcomed the development, pushing Wockhardt shares sharply higher during the trading session. Analysts said the approval validates the company’s research capabilities and could create new growth opportunities in international markets.

The approval also strengthens Wockhardt’s position as a research-driven pharmaceutical company focused on developing treatments for drug-resistant bacterial infections. Industry experts believe the drug could help address a critical healthcare need while enhancing the company’s global presence.

With antimicrobial resistance emerging as a major public health challenge worldwide, the launch of new antibiotics has become increasingly important. Market participants will now watch the commercial rollout of Zaynich and its potential contribution to Wockhardt’s future revenues and earnings.

Also Read: Gold slips to ₹1.57 lakh, silver falls to ₹2,79,900

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Beyond

Gold slips to ₹1.57 lakh, silver falls to ₹2,79,900

Gold and silver prices edged lower in the domestic bullion market on Monday as traders booked profits after recent gains and investors adopted a cautious stance ahead of key global economic developments.

According to market data, the price of 24-carat gold declined by ₹10 to ₹1,57,030 per 10 grams, while silver fell ₹100 to ₹2,79,900 per kilogram. The marginal decline comes after precious metals witnessed strong momentum in recent weeks amid heightened global uncertainty and expectations surrounding interest-rate decisions by major central banks.

Bullion traders said the pullback was largely driven by profit booking at higher levels. However, underlying sentiment for precious metals remains supported by concerns over global economic growth, geopolitical tensions and expectations that central banks may move toward a more accommodative monetary policy stance in the coming months.

In international markets, investors are closely monitoring upcoming US economic data and signals from the US Federal Reserve regarding future interest-rate moves. Any indication of a rate cut could support gold prices, as lower interest rates generally reduce the opportunity cost of holding non-yielding assets such as gold.

Market participants are also tracking movements in the US dollar and bond yields, both of which play a crucial role in determining the direction of precious metal prices. A weaker dollar typically makes gold more attractive for global investors, while rising bond yields can limit gains in bullion.

Jewellers and retailers reported steady demand in the domestic market despite the slight correction in prices. Industry experts noted that physical demand is likely to remain healthy, supported by wedding-season purchases and long-term investment interest among consumers.

It is believed that gold will continue to find support from safe-haven buying amid ongoing geopolitical uncertainties and volatility in global financial markets. Silver, which has both industrial and investment demand, is also expected to remain sensitive to developments in the global economy.

Also Read: Sensex slips 500 points, Nifty closes below 23,550

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Beyond

RBI warns oil price shock could hit growth

India’s economy has remained steady despite global uncertainties, but rising crude oil prices and geopolitical tensions could create fresh challenges in the coming months, the Reserve Bank of India (RBI) has warned.

In its latest economic assessment, the central bank said conflicts and instability in key regions, particularly the Middle East, pose risks to both inflation and economic growth. Any sharp increase in global crude oil prices could have a direct impact on India, which imports the majority of its oil requirements.

Higher oil prices typically raise transportation, manufacturing and logistics costs, which can eventually lead to higher prices for consumers. This could make it more difficult to keep inflation under control and may affect overall economic activity.

The assessment comes as the Department of Economic Affairs (DEA) highlighted India’s ability to withstand external shocks. The department said the country has displayed “cautious resilience” despite ongoing tensions in the Middle East and uncertainty in global markets.

The RBI noted that global conditions remain uncertain due to geopolitical conflicts, trade-related concerns and volatility in commodity markets. These developments, it said, continue to cloud the global economic outlook and require close monitoring.

Despite the risks, the central bank said India’s economy has shown resilience. Strong domestic demand, stable macroeconomic conditions and continued public investment have helped support growth even as several major economies face slower expansion.

The RBI stressed that while current growth conditions remain favourable, external risks have become more pronounced. Policymakers are expected to closely watch developments in global energy markets and geopolitical hotspots to assess their impact on inflation and economic growth.

The oil prices will remain a key factor influencing India’s economic performance. A prolonged rise in crude prices could increase the country’s import bill, put pressure on the rupee and affect government efforts to maintain price stability.

Also Read: SC scraps ₹447 cr order against Reliance

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1 Minute-Read

SC scraps ₹447 cr order against Reliance

The Supreme Court of India has given major relief to Reliance Industries by setting aside an order requiring the company to disgorge ₹447 crore in connection with trades involving shares of Reliance Petroleum Limited (RPL).

The court also overturned findings that had held Reliance guilty of fraudulent trading. The dispute dates back to 2007 and relates to transactions involving RPL shares and related market positions. The Supreme Court ruled that the findings against the company could not be sustained, bringing an end to a prolonged legal and regulatory battle over the matter.

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Technology

Spotify introduces playlist folders on mobile

Spotify has unveiled a fresh set of features designed to make playlist management easier for millions of users worldwide. The update introduces mobile playlist folders, bulk song editing and several other improvements aimed at streamlining the listening experience.

The headline feature is playlist folders, which enable users to organise multiple playlists under a single category. This means listeners can now create folders for workout music, travel songs, favourite artists or any other theme, making large music libraries easier to manage.

The company has also added bulk editing capabilities. Instead of handling tracks one at a time, users can select multiple songs and perform actions such as moving, removing or reorganising them together. Spotify says the feature is intended to save time and reduce the effort involved in maintaining playlists.

For users with extensive music collections, these additions address long-standing requests for better organisational tools. Playlist folders have been among the most sought-after features from Spotify’s community, particularly among subscribers who create dozens of playlists.

The update includes improvements to playlist controls and navigation, allowing users to customise their libraries more efficiently. According to Spotify, the goal is to make the platform easier to use while giving listeners greater flexibility over how they arrange their content.

The changes arrive as music streaming services increasingly focus on user experience and personalisation. With more listeners creating customised playlists, effective organisation tools have become an important part of the streaming experience.

Also Read: Sebi imposes ₹28.95 cr fine on Suzlon Energy

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Beyond

Sebi imposes ₹28.95 cr fine on Suzlon Energy

India’s market regulator has imposed a penalty of ₹28.95 crore on Suzlon Energy and several of its former executives over alleged misrepresentation of financial information and failure to make accurate disclosures to investors.

The action was taken by Securities and Exchange Board of India (Sebi) following an investigation into transactions involving the company and related entities. According to the regulator, certain disclosures made to investors did not fully reflect the nature of the transactions, resulting in misleading information being presented to the market.

Sebi found that the company had failed to provide complete and transparent details regarding financial arrangements linked to related parties. The regulator said these omissions affected the quality of information available to shareholders and could have influenced investment decisions.

As part of the order, penalties were imposed on Suzlon as well as several individuals associated with the company during the period under review. Among those named was Girish Tanti, who was fined for his role in the matter.

The regulator stated that listed companies have a responsibility to maintain high standards of corporate governance and ensure timely, accurate and complete disclosures. Transparency, Sebi noted, is essential for protecting investor interests and maintaining confidence in capital markets.

Suzlon, one of India’s leading renewable energy companies, has not publicly commented in detail on the order. The company retains the option to challenge the regulator’s findings through the appropriate legal channels.

The case relates to historical transactions and disclosures examined by the regulator. Sebi concluded that the company and certain executives violated provisions of securities regulations governing disclosure requirements and fair treatment of investors.

The penalty comes as regulators continue to increase scrutiny of corporate governance practices and disclosure standards among listed companies.

Also Read: Dell shares jump 33% on AI server boom