Business News

SpiceJet is reportedly cancelling 15 to 20 flights daily as its fleet shrinks to 12 aircrafts amid mounting dues to lessors and service providers. Employee salary delays and financial losses have added to its challenges. DGCA data for September showed a cancellation rate above 20%, on-time performance of 16.6% and domestic market share of just 0.6%.

The 7.35-km Atal Setu-Mumbai-Pune Expressway connector has achieved 67% completion. The six-lane elevated corridor is expected to reduce South Mumbai-Pune travel time by 60 to 90 minutes by bypassing Panvel Main Junction. It will also improve connectivity to Navi Mumbai International Airport, JNPA, NH-48, NH-348 and routes towards Goa. MMRDA had earlier targeted February 2027 for completion.

TRAI has capped annual charges for IP-based telecom interconnections at ₹5.6 lakh for 1 Gbps and ₹42.3 lakh for 10 Gbps ports, effective January 1, 2027. The regulator is also requiring new connections to use IP technology and existing E1 links to migrate within three years. The changes aim to modernise telecom infrastructure and improve transparency in inter-operator pricing.

SoftBank Group reported a quarterly loss of 1.115 trillion yen, or approximately $7.06 billion, for July-September 2026. A $3.7 billion loss linked to revised US data centre equipment procurement plans and financing costs of 462 billion yen contributed to the result. The company continues to expand its AI investments, including its $64.6 billion investment in OpenAI.

Restaurants across India have reportedly increased menu prices by 5-10% amid rising input costs. Several restaurant operators told Moneycontrol that input costs had risen by 15-20% over the past six to eight months. Higher dairy, food, fuel and operating costs are squeezing restaurant margins. Ghee and butter, in particular, have become more expensive, affecting the cost of several dishes.

A bystander recorded an affectionate moment of Nvidia CEO Jensen Huang with his company executive, Kimberly Powell, at a hotel in March. He was confronted by Huang's private security personnel and asked to sign a non-disclosure agreement (NDA), according to a New York Times report. Huang is already facing a probe into his affair with an alleged Chinese spy.

Instagram India head Arun Srinivas acknowledged the platform's child safety shortcomings and said Meta is working to address them. He also revealed AI-powered tools are being developed to help small businesses, and announced 'Muse', a new initiative to support local Indian creators and artists, launching soon.

United Airlines has banned AI agents, including Meta's Muse and OpenAI's dots, from booking flights, citing security risks and potential federal regulation violations. The airline warns AI tools could expose sensitive payment data, trigger unauthorized purchases, and breach check-in rules. It is revising its ticketing policies to block unauthorized third-party AI assistants. Meta shares slid 2% following the announcement.

Unacademy Co-founder Gaurav Munjal has stepped down as CEO to become Executive Chairman, with Chief Business Officer Akhilendra Kumar taking over as CEO. The leadership change comes just over two months after Ronnie Screwvala-led upGrad acquired the edtech firm for slightly over $200 million. Kumar's appointment is an internal promotion, having risen through leadership roles between 2022 and 2025.

Nvidia CEO Jensen Huang, the company's largest individual shareholder, owns 870.6 million shares, representing a 3.58% stake, according to an SEC filing. He is facing mounting scrutiny following US media reports alleging relationships with a woman executive and a suspected Chinese spy. The company's board is reportedly considering replacing Huang amid the controversy.

Noel Tata stepped down as Tata Investment Corporation chairman on November 11 after turning 70, ending 16+ years in the role. He transitions to chairman emeritus. AZB & Partners co-founder Bahram Vakil, formerly vice chairman since March, officially takes over on November 12 as part of a broader Tata Group leadership rejig.

The RBI is considering rules to stop private equity firms from holding controlling stakes in more than one non-bank lender (NBFC), Reuters reported. The move aims to prevent financial trouble at a global investment firm from spreading across multiple lenders in which it has investments. However, the central bank plans to allow smaller investments with fewer regulatory checks.

Britain's Metro Bank has put itself up for sale as part of a strategic review. The move comes after the lender launched its third redundancy round in three years in January. Colombian billionaire Jaime Gilinski Bacal owns a majority stake in the lender, which operates 78 UK branches and serves around 2.7 million customers.

Reacting to reports of Nvidia CEO Jensen Huang's affair with an alleged Chinese spy, China said, "The US side should stop fabricating such 'spy' narratives as a pretext for imposing a technological blockade." Meanwhile, a report claimed Huang's affair with the suspected Chinese spy helped China evade US restrictions and get ₹70,000-crore NVIDIA chips. Nvidia has launched an internal probe.

Pollution-related health insurance claims have risen 4.34 times in three years, according to Policybazaar data, highlighting its growing impact on health. Cardiovascular conditions account for the largest share at 43.5%, followed by respiratory infections at 35% and pneumonia at 11.2%. The analysis, based on 50,000 claims, also found that bronchitis contributed 6% of pollution-linked claims.

The RBI has consolidated rules for Domestic Money Transfer (DMT), setting limits and verification requirements for cash-based remittances. Under the revised rules, cash payouts are capped at ₹10,000 per transaction and ₹25,000 per beneficiary monthly, while cash-based transfers through BCs and ATMs are limited to ₹5,000 per transaction. Remitters must register using a verified mobile number.