Business News

Mehli K Mistry has decided to step down as a trustee of Tata Medical Centre Trust and won't seek re-election when his current term ends on September 30. He left three Tata trusts, including Sir Ratan Tata Trust and Sir Dorabji Tata Trust, in 2025. He also resigned as a director of RNT Associates, Ratan Tata's investment firm, in July.

Apple has been ordered by US jury to pay San Diego-based Taction $ 5.7 billion (₹54,000 crore) for infringing two patents related to haptic feedback technology used in iPhones and Apple Watches. Apple said it will appeal the verdict, calling its Taptic Engine fundamentally different from Taction's technology. The $5.7-billion verdict is reportedly the largest patent verdict in US history.

Federation of Indian Pilots has sought representation in any independent review of the draft final report on the June 2025 Air India crash. It flagged a discrepancy in Ram Air Turbine timing: the AAIB preliminary report recorded hydraulic power after about 4 seconds, while Boeing 787 simulator tests showed about 18 seconds. FIP wants the gap examined before final conclusions.

Centre directed 112 captive coal-based power plants with an installed capacity of 50 MW or above to operate at maximum capacity from October 1 to December 31. This is to meet an expected rise in electricity demand. Captive plants, which primarily supply electricity to their own industrial facilities, have also been asked to offer surplus electricity through power exchanges.

China and the US reached an eight-point consensus during Xi Jinping's Washington visit, including a $30 billion reciprocal tariff-reduction deal on non-sensitive goods and a new AI dialogue channel. Both sides also extended their trade truce beyond November 10 and agreed to discuss Iran's nuclear commitments and support each other's APEC and G20 summits.

According to Income Tax rules, ₹1 lakh in dividend income does not mean ₹10,000 TDS is the final tax. TDS is generally available as a tax credit and adjusted against the final liability while filing the ITR. Dividend income is generally taxable for resident individuals, with the final liability depending on total income, tax regime and applicable provisions.

With the Strait of Hormuz blocked, Iran is rerouting trade overland through Turkey. Hundreds of trucks now cross a key Turkish border daily, making Turkey a critical trade gateway for Tehran. The workaround is easing some pressure on Iranian imports, though analysts note significant capacity and logistical limits remain.

Housing sales fell nearly 6% to 1.03 lakh units in the July-September quarter across Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata. This happened mainly due to subdued demand and lower fresh supply of homes, according to PropEquity. Global economic uncertainties also contributed to muted buying sentiments, PropEquity said.

Fideuram, the private banking arm of Italy's biggest lender Intesa Sanpaolo lost €95 million (over ₹10,36,00,00,000) in an AI scam, two sources familiar with the matter told Reuters. Fraudsters used AI to impersonate senior executives and stole the amount. More than half the funds were later recovered, but some €36 million remains missing, the sources added.