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Trump’s Fed Chair nominee Warsh promises independence

Kevin Warsh, US President Donald Trump’s nominee for Federal Reserve chair, told senators he would protect the central bank’s independence if confirmed.

During his Senate hearing, Warsh rejected criticism that he would follow Trump’s political agenda. He said interest-rate decisions would be based on economic data and long-term stability.

Warsh also criticised the Fed’s past handling of inflation, saying it must rebuild credibility. His nomination is being closely watched as the Federal Reserve plays a major role in controlling inflation, borrowing costs and guiding the US economy.

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Beyond

India seafood exports makes a record of ₹72,325 cr

India’s seafood exports touched a record ₹72,325 crore in the financial year 2025-26, showing the strength of the sector even as demand from the United States weakened. Export volumes also increased, reflecting steady global interest in Indian marine products.

The country exported 19.32 lakh metric tonnes of seafood during the year, according to provisional figures from the Marine Products Export Development Authority (MPEDA). This marks one of the best performances for the industry in recent years.

Frozen shrimp remained the star product, contributing the largest share of export income. Shrimp exports brought in ₹47,973 crore, making up more than two-thirds of the total earnings. Demand for Indian shrimp remained firm across several international markets.

Although the United States continued to be the biggest buyer of Indian seafood, exports to that market declined during the year. Industry sources said tariff-related issues and trade pressures affected shipments, making Indian products less competitive there.

However, losses in the US market were more than offset by strong growth elsewhere. China emerged as a key growth driver, with imports of Indian seafood rising sharply. The European Union also increased purchases significantly, while countries in Southeast Asia recorded healthy demand.

Other seafood categories such as frozen fish, squid, cuttlefish, dried products and live seafood also performed well. Only chilled seafood exports reported a drop.

Also Read: Jio Financial, Allianz partner for insurance business

 

 

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Corporate

Jio Financial, Allianz partner for insurance business

Jio Financial Services has joined hands with global insurance giant Allianz to launch a new insurance business in India. The two companies will form a 50:50 joint venture focused on health and general insurance, marking a major expansion for Jio Financial.

The partnership combines Jio Financial’s strong digital network and large customer reach with Allianz’s global experience in insurance. Both companies said they aim to offer simple, affordable and easily accessible insurance products for Indian customers.

The announcement was positively received by the market, with Jio Financial shares rising around 4% during Thursday’s trade. Investors see the deal as an important growth move for the company as it builds its presence in India’s financial services sector.

India’s insurance market is growing rapidly as more people look for health cover, vehicle insurance and financial protection for their families. However, a large part of the population still remains uninsured or underinsured, creating huge opportunities for new players.

For Jio Financial, this is another step in building a wider financial ecosystem. The company has already entered areas such as lending, payments and investment services. The insurance business is expected to strengthen its long-term plans.

For Allianz, the partnership offers a fresh entry into India’s fast-growing insurance market with a strong local partner. Analysts believe Jio’s technology platform and reach across cities and smaller towns could help Allianz scale quickly.

The new venture will start operations after receiving regulatory approvals. Reports also suggest the two companies may explore future opportunities in life insurance, which could further expand the partnership.

Experts say digital insurance products are likely to play a key role in the business model. Easy online buying, faster claims settlement and simple customer service could attract younger users and first-time buyers.

The deal highlights growing interest in India’s financial sector, where technology-led companies are expanding into banking, insurance and wealth products.

Also Read: Havells appoints ex-Britannia Chief to board

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Corporate

Sensex falls 850 points, Nifty ends below 24,200

Indian stock markets closed sharply lower on Thursday as the BSE Sensex dropped 852 points to end at 77,664, while the NSE Nifty50 fell 205 points to close at 24,173, slipping below the important 24,200 level.

The selloff was broad-based, with heavy pressure seen in banking, IT, auto and consumer stocks. Among the top losers on the Sensex and Nifty were Infosys, HDFC Bank, Maruti Suzuki, Tata Motors and Axis Bank. These stocks saw strong selling as investors reduced exposure to economically sensitive sectors.

IT shares remained weak, with Infosys continuing to face pressure after concerns around global demand and slower technology spending. Banking stocks such as HDFC Bank and Axis Bank also dragged the market lower, while auto stocks like Maruti Suzuki and Tata Motors declined on fears that higher fuel prices could affect demand.

A major reason behind the weak sentiment was the sharp rise in global crude oil prices, which moved above the $100 per barrel mark. Higher oil prices are a concern for India because they can increase inflation, raise transport costs and put pressure on the rupee.

The rupee also weakened against the US dollar during the day, adding to investor worries. A weaker rupee increases import costs and can affect several sectors dependent on overseas raw materials.

Despite the broad weakness, a few defensive stocks managed to gain. Sun Pharma was among the top gainers, supported by buying interest in healthcare shares. Some other pharmaceutical counters also remained firm as investors looked for safer sectors during market volatility.

Broader markets were also under pressure, with many midcap and smallcap stocks ending in the red. Market breadth remained negative, showing that selling was spread across a wide range of shares.

Also Read: Havells appoints ex-Britannia Chief to board

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Leaders

Havells appoints ex-Britannia Chief to board

Havells India has appointed former Britannia Industries chief Varun Berry as an independent director on its board, adding one of India’s best-known corporate leaders to the company’s leadership team. His appointment is effective from April 22 and will be for five years, subject to shareholder approval.

Berry is widely respected in the consumer goods industry and is known for helping transform Britannia into one of India’s strongest food brands during his tenure. Under his leadership, the company expanded its product portfolio, improved profits and strengthened its market presence.

This is one of Berry’s first major corporate roles since stepping down from Britannia in late 2025. His move to Havells is being seen as an important addition at a time when competition in the electrical goods and consumer appliances market is increasing.

Havells is one of India’s leading consumer brands, known for products such as fans, switches, cables, lighting solutions and kitchen appliances. It also owns Lloyd, a major brand in the air-conditioner and home appliance segment.

Industry experts believe Berry’s experience in understanding consumer demand, building brands and managing large businesses could help Havells in its next stage of expansion. As an independent director, he will also bring an outside perspective to board decisions and corporate strategy.

Before Britannia, Berry held senior positions at PepsiCo and worked with Hindustan Unilever earlier in his career. His long experience across sectors gives him strong knowledge of Indian consumers and business growth strategies.

The appointment was announced alongside Havells’ latest quarterly earnings, where the company reported solid financial performance and announced a dividend for shareholders. This added to the positive sentiment around the company.

Investors often view the appointment of experienced independent directors as a sign of stronger governance and long-term planning. Berry’s presence on the board is expected to boost confidence among shareholders and market watchers.

Also Read: ChatGPT images 2.0 comes with realistic AI photos

Categories
Technology

ChatGPT images 2.0 comes with realistic AI photos

OpenAI’s newly launched ChatGPT Images 2.0 is drawing major attention online, with users praising its ability to create realistic photos, posters and digital artwork from simple text prompts. The upgraded tool is now available inside ChatGPT and is being widely shared across social media.

One of the biggest improvements is its ability to generate clear and readable text inside images. Earlier AI image tools often struggled with spelling errors or distorted words, but users say the new version performs far better. Many have shared examples of menus, ads, product labels and magazine covers that look professionally designed.

The tool is also being praised for photorealistic results. Users have created portraits, travel scenes, fashion images and street photography that closely resemble real camera shots. Many say the level of detail, lighting and texture is a major step forward.

ChatGPT Images 2.0 can also create artwork in different styles such as anime, branding designs, packaging concepts and social media graphics. Experts say it could become useful for creators, marketers and small businesses looking for quick design solutions.

Also Read: Trent profit rises 30%, announces first bonus shares

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Corporate

Trent profit rises 30%, announces first bonus shares

Tata Group retail company Trent has reported a strong fourth-quarter performance, with net profit rising around 30% year-on-year. The company also announced its first-ever bonus share issue and declared a dividend, giving shareholders more reasons to celebrate.

Trent, which operates popular brands such as Westside and Zudio, said its quarterly profit rose to about ₹455 crore. Revenue also increased strongly, helped by steady consumer demand and continued expansion of stores across the country.

One of the biggest highlights of the results was the company’s first bonus issue since listing. Trent announced bonus shares in the ratio of 1:2, meaning investors will receive one extra share for every two shares they already own. Bonus issues are often seen as a sign of management confidence and are welcomed by retail investors.

Along with the bonus shares, the board also approved a final dividend of ₹6 per share for the financial year. This indicates that the company remains financially strong while continuing to invest in future growth.

Trent’s strong performance was mainly driven by Zudio, its fast-growing value fashion chain, and Westside, its established lifestyle brand. Zudio has expanded rapidly across cities and smaller towns, attracting young shoppers with affordable fashion options. Westside has also continued to benefit from steady demand in urban markets.

The company has become one of India’s fastest-growing retail businesses, benefiting from rising consumer spending and increasing demand for organised fashion retail. Analysts say Trent has successfully built brands that appeal to both budget-conscious and premium shoppers.

Despite the positive results, the stock saw some volatility in the market as investors booked profits after a recent rally. However, many analysts remain positive on the company’s long-term prospects because of its expansion strategy and strong brand presence.

Also Read: Meta to monitor employee activity for AI training

Categories
Technology

Meta to monitor employee activity for AI training

Meta has started using a new internal system that tracks employee computer activity, including clicks, mouse movements and typing patterns, to help train its artificial intelligence tools. The company says the goal is to teach AI systems how people use software and complete everyday office tasks.

Meta said the data will be collected only from work devices and will not be used to judge employee performance. It also said safeguards are in place to protect sensitive information.

Still, the move has raised concerns among some employees, who worry about privacy and increased workplace monitoring. Critics say it reflects the growing tension between fast AI development and employee trust.

Categories
Corporate

AirTrunk enters India with Lumina acquisition

Global data centre company AirTrunk has officially entered India after acquiring Lumina CloudInfra, a move that signals growing international confidence in the country’s fast-expanding digital economy.

The deal gives AirTrunk an immediate foothold in one of the world’s most promising technology markets, where demand for cloud services, artificial intelligence and digital storage is rising rapidly. Financial details of the acquisition have not been disclosed.

AirTrunk, backed by global investment firm Blackstone, is known as one of the leading hyperscale data centre operators in the Asia-Pacific region. By acquiring Lumina CloudInfra, the company gains access to ongoing projects, local market knowledge and a strong development pipeline in India.

Lumina has a presence in major cities such as Mumbai, Chennai and Hyderabad,  all important hubs for technology, finance and internet infrastructure. Reports suggest the acquisition includes around 600 megawatts of planned capacity, giving AirTrunk a ready-made platform for future expansion.

For India, the deal highlights how strongly the country is being viewed as a long-term digital growth market. Rising smartphone use, increasing internet consumption, online businesses, streaming platforms and AI adoption are all driving the need for large-scale data centres.

These facilities are critical to the digital economy. They store data, power cloud computing, support businesses, and enable technologies people use every day,  from banking apps and e-commerce to video calls and entertainment platforms.

Industry experts say India’s data centre sector is expected to grow significantly in the coming years, helped by government support, 5G rollout and increasing demand from global technology firms. As companies process more data and rely more on AI tools, the need for stronger infrastructure is only expected to rise.

For AirTrunk, the acquisition is more than just market entry. It is a strategic bet on India’s future role in the global technology ecosystem. Instead of building operations from the ground up, the company has chosen a faster route by buying an established local player.

Also Read: 24-year-old builds ₹1 cr startup in 4 months

Categories
Corporate

Sensex falls 760 points, Nifty below 24,400

Indian stock markets closed sharply lower on Tuesday, as the BSE Sensex dropped 760 points to settle at 78,516, while the NSE Nifty slipped below the 24,400 level.

Technology stocks led the decline after HCLTech gave a weaker-than-expected business outlook. Its shares fell sharply, triggering selling across the sector. Infosys and Tata Consultancy Services (TCS) also came under pressure, dragging benchmark indices lower.

Investors remained cautious amid rising geopolitical tensions linked to developments involving the United States and Iran. Concerns over crude oil prices also weighed on sentiment, as higher oil costs can increase inflation and widen India’s import bill.

Banking and financial shares traded mixed through the session, while profit booking after the recent rally added to market pressure. Traders chose to lock in gains after three straight days of advances.

Despite the broad sell-off, some heavyweight stocks provided support. Reliance Industries saw buying interest, while select industrial and mid-cap counters also remained firm. Their gains helped limit deeper losses in the benchmark indices.

Market experts said volatility may continue in the near term as investors track global tensions, oil prices, foreign fund flows and quarterly earnings announcements. Upcoming results from major companies are expected to influence market direction in the coming sessions.

Broader markets showed resilience compared to frontline indices, with selective buying in mid-cap and small-cap shares. This suggests domestic investors are still looking for opportunities despite uncertainty in global markets.

Analysts believe that if crude prices stabilise and global tensions ease, Indian markets could recover. However, continued weakness in technology stocks and foreign investor selling may keep sentiment cautious in the short term.

Also Read: YouTube lets users turn off shorts