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China on Thursday imposed export controls on key battery technologies, affecting the global&nbsp;supply of components for electric vehicles and clean energy. The country's Ministry of Commerce restricted the export of technologies that are critical&nbsp;for the production of lithium batteries, which power most of the electric vehicles across the globe.<h2>All you need to know about China's lithium policy</h2>China processes 90 per cent of the world's rare earth materials. They are critical for the production of electronics, including solar panels and smartphones. China had already restricted these exports. However, on Thursday, the country formalised the rules.&nbsp;Per the new rules, foreign companies need the Chinese government's approval to even export small amounts of rare earths. These companies will have to explain why they need to import rare earths.&nbsp;The government also announced similar restrictions on the export of lithium batteries and some forms of graphite. They are mostly produced in China and are critical to many products, including EV batteries.&nbsp;China has said that the regulations were framed to safeguard national security. The key target of the regulations is the US, China's business and strategic rival, which launched a trade war earlier this year since Donald Trump became the president.&nbsp;With the new announcement, it is clear that China is likely to bar selling rare earths to arms manufacturers and some critical&nbsp;chip companies.&nbsp;The country has said that even the technology to mine and process rare earths, including magnets, can be exported only after securing express permission from the government.&nbsp;Chinese firms now can't work with foreign companies on rare earths without the government's permission.&nbsp;Activities like mining, smelting, and separation, magnetic material manufacturing, and recycling rare earths are included in these restrictions.&nbsp;China's new regulations came days ahead of Xi Jinping and Donald Trump's expected meeting later this month.&nbsp;China's controls even apply to the manufacturing of lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) battery cathodes.&nbsp;India imports the majority of its lithium-ion battery material, including cathode materials and machinery, from China. The rules can now lead to delays, which can hamper New Delhi's EV and green energy goals. Solar panel manufacturing and electronics can also be disrupted because of China's policies on graphite and rare earths.&nbsp;Since rare earths are also used in manufacturing lasers, car headlights, spark plugs, chips, capacitors, and smartphones, China's new rules can hamper other sectors in India as well.&nbsp;India's electric mobility&nbsp;plans entail replacing internal combustion engines with Lithium battery-powered&nbsp;EVs. Indian manufacturers like Tata and Mahindra are already making EVs in India.&nbsp;With the new policy getting implemented, automakers are bracing for a shortage of critical components. This could also lead to production delays and the rise of input costs.&nbsp;Neodymium-iron-boron, a rare-earth magnet, is also crucial for the manufacturing of electric vehicles. They are needed to make motors. They also play a pivotal role in the manufacturing of power steering systems, wiper motors, and braking systems.&nbsp;With the curbs, the availability of these materials will be hampered, affecting both EVs as well as ICE vehicles.

China on Thursday imposed export controls on key battery technologies, affecting the global supply of components for electric vehicles and clean energy. 

China on Thursday imposed export controls on key battery technologies, affecting the global supply of components for electric vehicles and clean energy. The country's Ministry of Commerce restricted the export of technologies that are critical for the production of lithium batteries, which power most of the electric vehicles across the globe. All you need to know about China's lithium policy China processes 90 per cent of the world's rare earth materials. They are critical for the production of electronics, including solar panels and smartphones. China had already restricted these exports. However, on Thursday, the country formalised the rules. Per the new rules, foreign companies need the Chinese government's approval to even export small amounts of rare earths. These companies will have to explain why they need to import rare earths. The government also announced similar restrictions on the export of lithium batteries and some forms of graphite. They are mostly produced in China and are critical to many products, including EV batteries. China has said that the regulations were framed to safeguard national security. The key target of the regulations is the US, China's business and strategic rival, which launched a trade war earlier this year since Donald Trump became the president. With the new announcement, it is clear that China is likely to bar selling rare earths to arms manufacturers and some critical chip companies. The country has said that even the technology to mine and process rare earths, including magnets, can be exported only after securing express permission from the government. Chinese firms now can't work with foreign companies on rare earths without the government's permission. Activities like mining, smelting, and separation, magnetic material manufacturing, and recycling rare earths are included in these restrictions. China's new regulations came days ahead of Xi Jinping and Donald Trump's expected meeting later this month. China's controls even apply to the manufacturing of lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) battery cathodes. India imports the majority of its lithium-ion battery material, including cathode materials and machinery, from China. The rules can now lead to delays, which can hamper New Delhi's EV and green energy goals. Solar panel manufacturing and electronics can also be disrupted because of China's policies on graphite and rare earths. Since rare earths are also used in manufacturing lasers, car headlights, spark plugs, chips, capacitors, and smartphones, China's new rules can hamper other sectors in India as well. India's electric mobility plans entail replacing internal combustion engines with Lithium battery-powered EVs. Indian manufacturers like Tata and Mahindra are already making EVs in India. With the new policy getting implemented, automakers are bracing for a shortage of critical components. This could also lead to production delays and the rise of input costs. Neodymium-iron-boron, a rare-earth magnet, is also crucial for the manufacturing of electric vehicles. They are needed to make motors. They also play a pivotal role in the manufacturing of power steering systems, wiper motors, and braking systems. With the curbs, the availability of these materials will be hampered, affecting both EVs as well as ICE vehicles.

All you need to know about China's rare earth and lithium policy: China processes 90 per cent of the world's rare earth materials. They are critical for the production of electronics, including solar panels and smartphones.

What are China's curbs on lithium battery exports? Can it impact India?

TT Jagannathan, the Chairman Emeritus of the kitchen appliance company TTK Prestige, has passed away. The company announced his death in an exchange filing, saying he died on October 9, 2025.&nbsp;The company, which sells Prestige cookers, said he died suddenly. "His sudden and unexpected passing away will be an irreparable loss to the Company, and all the Directors and employees of the Company convey deep sorrow and condolences to his family," the firm said in a statement published by ET.&nbsp;Jagannathan held 3.10% of TTK Prestige’s total shareholding. In addition, he was a partner with a 3% share in M/s T T Krishnamachari &amp; Co, which holds 8,27,67,238 equity shares, accounting for 60.44% of the company, it added.&nbsp;The firm further said that his shares will be passed on to his nominees, and shareholding will be displayed in his name till the transmission is concluded.<h2>Who was TT Jagannathan?</h2>TT Jagannathan completed his engineering from IIT Madras. He played a key role in making TTK Prestige one of India's leading kitchen and home appliance brands.&nbsp;He completed a Bachelor’s degree with distinction in Mechanical Engineering from the prestigious company. He later obtained the degree of Master of Science at Cornell University in 1972. He became the general manager of the company in 1973. He became the managing director of the firm in 1974.

TT Jagannathan, the Chairman Emeritus of the kitchen appliance company TTK Prestige, has passed away. 

TT Jagannathan, the Chairman Emeritus of the kitchen appliance company TTK Prestige, has passed away. The company announced his death in an exchange filing, saying he died on October 9, 2025. The company, which sells Prestige cookers, said he died suddenly. "His sudden and unexpected passing away will be an irreparable loss to the Company, and all the Directors and employees of the Company convey deep sorrow and condolences to his family," the firm said in a statement published by ET. Jagannathan held 3.10% of TTK Prestige’s total shareholding. In addition, he was a partner with a 3% share in M/s T T Krishnamachari & Co, which holds 8,27,67,238 equity shares, accounting for 60.44% of the company, it added. The firm further said that his shares will be passed on to his nominees, and shareholding will be displayed in his name till the transmission is concluded. Who was TT Jagannathan? TT Jagannathan completed his engineering from IIT Madras. He played a key role in making TTK Prestige one of India's leading kitchen and home appliance brands. He completed a Bachelor’s degree with distinction in Mechanical Engineering from the prestigious company. He later obtained the degree of Master of Science at Cornell University in 1972. He became the general manager of the company in 1973. He became the managing director of the firm in 1974.

Who was TT Jagannathan? TT Jagannathan completed his engineering from IIT Madras. He played a key role in making TTK Prestige one of India's leading kitchen and home appliance brands.&nbsp;

TTK Prestige's TT Jagannathan passes away

The United States has purchased Argentine pesos in a move to help Argentina tide over the currency crisis. Treasury Secretary Scott Bessent announced the purchase of the country's currency in a social media post. He said that the US Treasury is prepared to take exceptional measures to help the South American nation.&nbsp;The Donald Trump administration's move attracted criticism from the Democratic Party, with Senator Elizabeth Warren writing on social media that the US President should have helped Americans afford health care instead of using "our dollars to buy Argentine Pesos".<h2>Why did the US help Argentina?</h2>The country is facing financial turmoil. Over the past few months, the value of the peso has been declining sharply. Investors were also seen selling Argentine stocks and bonds.&nbsp;Argentina's government's moves to stabilize the economy have drained the nation's reserves.Bessent said that the success of Argentina's "reform agenda" was of “systemic importance” to the US.&nbsp;He said that a strong and stable Argentina helps anchor a prosperous Western hemisphere.&nbsp;The administration has decided to swap $20bn in currency. Bessent told a news channel that the support wasn't a bailout for Argentina.&nbsp;He added that the peso was undervalued.&nbsp;Argentina has defaulted on its debt three times since 2001, with the most recent instance occurring in 2020.&nbsp;Since 2023, the Argentine government has cut public spending to control inflation. However, the austerity measures prompted backlash as people's purchasing power dwindled amid the threat of an economic recession.&nbsp;"Why would the USA help bail out Argentina while they take American soybean producers' biggest market???" Republican Senator Chuck Grassley, who represents Iowa, a key soybean producer, wrote on social media last month, when the US first pledged its support, the BBC reported.

The United States has purchased Argentine pesos in a move to help Argentina tide over the currency crisis. 

The United States has purchased Argentine pesos in a move to help Argentina tide over the currency crisis. Treasury Secretary Scott Bessent announced the purchase of the country's currency in a social media post. He said that the US Treasury is prepared to take exceptional measures to help the South American nation. The Donald Trump administration's move attracted criticism from the Democratic Party, with Senator Elizabeth Warren writing on social media that the US President should have helped Americans afford health care instead of using "our dollars to buy Argentine Pesos". Why did the US help Argentina? The country is facing financial turmoil. Over the past few months, the value of the peso has been declining sharply. Investors were also seen selling Argentine stocks and bonds. Argentina's government's moves to stabilize the economy have drained the nation's reserves. Bessent said that the success of Argentina's "reform agenda" was of “systemic importance” to the US. He said that a strong and stable Argentina helps anchor a prosperous Western hemisphere. The administration has decided to swap $20bn in currency. Bessent told a news channel that the support wasn't a bailout for Argentina. He added that the peso was undervalued. Argentina has defaulted on its debt three times since 2001, with the most recent instance occurring in 2020. Since 2023, the Argentine government has cut public spending to control inflation. However, the austerity measures prompted backlash as people's purchasing power dwindled amid the threat of an economic recession. "Why would the USA help bail out Argentina while they take American soybean producers' biggest market???" Republican Senator Chuck Grassley, who represents Iowa, a key soybean producer, wrote on social media last month, when the US first pledged its support, the BBC reported.

Why did the US help Argentina? Argentina's government's moves to stabilize the economy have drained the nation's reserves. Bessent said that the success of Argentina's "reform agenda" was of “systemic importance” to the US.

US buys pesos to support flagging Argentine economy, move prompts questions

Novo Nordisk has said that it will buy US pharma company&nbsp;Akero Therapeutics for a whopping $5.2 billion. The decision was made as the company wants to gain access to a promising liver disease drug.&nbsp;This is the first major deal made under the leadership&nbsp;of the CEO of the Danish firm, Mike Doustdar. He took over the reins of the company in July. His main task at the Danish firm is believed to be curbing losses of the market share to US rival Eli Lilly.&nbsp;The decision came weeks after Novo Nordisk said it would lay off 9000 people.&nbsp;Novo Nordisk is focusing on developing medicines that deal with obesity and diabetes, which can also treat cardiometabolic conditions such as MASH.&nbsp;Akero is testing its drug, efruxifermin, in a late-stage trial in patients with severe liver scarring, or cirrhosis, due to a type of fatty liver disease known as metabolic dysfunction-associated steatohepatitis (MASH, according to&nbsp;Reuters.&nbsp;If the trials are successful, this new drug could prove to be a breakthrough in the treatment of fatty liver disease, Doustdar said in a statement.&nbsp;He said it could also become a treatment for the liver condition, which can progress to more serious liver-linked problems.<h2>How much did Novo offer Akero's shareholders?</h2>Novo has offered Akero's shareholders $54 per share upfront in cash. This offer is a premium of 16.2 per cent over the share's last-known price.&nbsp;This amounts to a payment of $4.7 billion upfront. If efruxifermin secures a full U.S. approval for the condition, the Danish company will pay an additional $6 per share.&nbsp;Last year, the company bought Cardior Pharmaceuticals, which is developing a treatment for hypertension, for up to $1.1 billion.&nbsp;Some Novo investors recently told Reuters that they want to see the company invest heavily in research and development to build out its future drug pipeline and revive investor confidence.

Novo Nordisk has said that it will buy US pharma company Akero Therapeutics for a whopping $5.2 billion. The decision was made as the company wants to gain access to a promising liver disease drug.

Novo Nordisk has said that it will buy US pharma company Akero Therapeutics for a whopping $5.2 billion. The decision was made as the company wants to gain access to a promising liver disease drug. This is the first major deal made under the leadership of the CEO of the Danish firm, Mike Doustdar. He took over the reins of the company in July. His main task at the Danish firm is believed to be curbing losses of the market share to US rival Eli Lilly. The decision came weeks after Novo Nordisk said it would lay off 9000 people. Novo Nordisk is focusing on developing medicines that deal with obesity and diabetes, which can also treat cardiometabolic conditions such as MASH. Akero is testing its drug, efruxifermin, in a late-stage trial in patients with severe liver scarring, or cirrhosis, due to a type of fatty liver disease known as metabolic dysfunction-associated steatohepatitis (MASH, according to Reuters. If the trials are successful, this new drug could prove to be a breakthrough in the treatment of fatty liver disease, Doustdar said in a statement. He said it could also become a treatment for the liver condition, which can progress to more serious liver-linked problems. How much did Novo offer Akero's shareholders? Novo has offered Akero's shareholders $54 per share upfront in cash. This offer is a premium of 16.2 per cent over the share's last-known price. This amounts to a payment of $4.7 billion upfront. If efruxifermin secures a full U.S. approval for the condition, the Danish company will pay an additional $6 per share. Last year, the company bought Cardior Pharmaceuticals, which is developing a treatment for hypertension, for up to $1.1 billion. Some Novo investors recently told Reuters that they want to see the company invest heavily in research and development to build out its future drug pipeline and revive investor confidence.

Novo Nordisk-Akero Therapeutics deal: Novo Nordisk is focusing on developing medicines that deal with obesity and diabetes, which can also treat cardiometabolic conditions such as MASH.

Novo Nordisk to buy Akero Therapeutics for $5.2 billion over liver drug

Some people invest their hard-earned money in mutual funds and stocks for returns. However, many want their&nbsp;investments to earn modest returns as well as save their income tax.&nbsp;These tax-saving financial instruments generally give lower returns than mutual funds. However, they are safer.<h2>Here are the 8 schemes that one can invest in for tax savings.</h2><h3>Fixed Deposit</h3>Fixed deposits offer fixed returns when their tenure ends. They are great financial instruments if you don't want your funds to be exposed to the market. They are one of the safety-saving options. Deposits with a minimum term of five years qualify for a tax deduction of up to Rs 1.5 lakh per annum.<h3>Health insurance</h3>Health insurance can also be used for tax savings. They also provide a safety net in case of medical exigencies. Under the Income Tax Act of 1961, one can get a deduction of Rs 25000 under Section 80D.<h3>National Savings Certificate</h3>The government-backed National Savings Certificate offers a tax deduction of up to Rs 1.5 lakh per annum. They are also considered safe investment options.<h3>Pension Plans</h3>These plans offer a fixed income after your retirement. A person pays an amount every year. Based on the corpus accumulated, they later earn a pension after retirement. The premiums are eligible for tax deduction of up to Rs 1.5 lakh per annum.<h3>ULIP</h3>A Unit-Linked Insurance Plan (ULIP) is an insurance product. The return of these insurance plans is linked to the market. It also provides an insurance benefit. Under Section 80C of the Income Tax Act, 1961, the premiums paid are eligible for a tax deduction of up to Rs 1.5 lakh per annum.&nbsp;<h3>Endowment Plans</h3>They are insurance. They offer a return on your investment and insurance coverage till you pay your premiums. They are low-risk and low-premium products. Under Section 80C of the Income Tax Act, 1961, the premiums are eligible for deductions of up to Rs 1.5 lakh.<h3>Term Insurance</h3>A term insurance is an insurance plan that offers financial protection. The premiums paid under term insurance are eligible for a tax deduction of up to Rs 1.5 lakh.<h3>Mutual funds</h3>Some mutual funds save tax. They are called Equity-Linked Savings Schemes or ELSS. They carry low risk compared to other mutual funds. Under Section 80C of the Income Tax Act, 1961, they qualify for a tax deduction of up to Rs 1.5 lakh.

Some people invest their hard-earned money in mutual funds and stocks for returns. However, many want their investments to earn modest returns as well as save their income tax. 

Some people invest their hard-earned money in mutual funds and stocks for returns. However, many want their investments to earn modest returns as well as save their income tax. These tax-saving financial instruments generally give lower returns than mutual funds. However, they are safer. Here are the 8 schemes that one can invest in for tax savings. Fixed Deposit Fixed deposits offer fixed returns when their tenure ends. They are great financial instruments if you don't want your funds to be exposed to the market. They are one of the safety-saving options. Deposits with a minimum term of five years qualify for a tax deduction of up to Rs 1.5 lakh per annum. Health insurance Health insurance can also be used for tax savings. They also provide a safety net in case of medical exigencies. Under the Income Tax Act of 1961, one can get a deduction of Rs 25000 under Section 80D. National Savings Certificate The government-backed National Savings Certificate offers a tax deduction of up to Rs 1.5 lakh per annum. They are also considered safe investment options. Pension Plans These plans offer a fixed income after your retirement. A person pays an amount every year. Based on the corpus accumulated, they later earn a pension after retirement. The premiums are eligible for tax deduction of up to Rs 1.5 lakh per annum. ULIP A Unit-Linked Insurance Plan (ULIP) is an insurance product. The return of these insurance plans is linked to the market. It also provides an insurance benefit. Under Section 80C of the Income Tax Act, 1961, the premiums paid are eligible for a tax deduction of up to Rs 1.5 lakh per annum. Endowment Plans They are insurance. They offer a return on your investment and insurance coverage till you pay your premiums. They are low-risk and low-premium products. Under Section 80C of the Income Tax Act, 1961, the premiums are eligible for deductions of up to Rs 1.5 lakh. Term Insurance A term insurance is an insurance plan that offers financial protection. The premiums paid under term insurance are eligible for a tax deduction of up to Rs 1.5 lakh. Mutual funds Some mutual funds save tax. They are called Equity-Linked Savings Schemes or ELSS. They carry low risk compared to other mutual funds. Under Section 80C of the Income Tax Act, 1961, they qualify for a tax deduction of up to Rs 1.5 lakh.

How to save tax and earn returns: These tax-saving financial instruments generally give lower returns than mutual funds. However, they are safer. Check out eight tax-saving schemes.

Top eight tax-saving investments every Indian must know about

For those who are entering the investment game, two very confusing choices exist: mutual funds and stocks. These investment instruments&nbsp;are for those with a greater risk appetite and those who want a greater return on their investments. Who are mutual funds for? Who are stocks for? What's the difference between mutual funds and stocks? Here are all your questions answered.Stocks promise more returns. However, one must have deep knowledge about the market to do that. Most of the investors who invest in the stock market lose their investments. In the case of mutual funds, a person can invest indirectly in the stock market. Experts invest in stock markets through mutual funds.<h2>What are mutual funds?</h2>In mutual funds, lakhs of investors park their money. This money is invested in several options, including stocks, bonds, and other securities. They are managed by fund managers who are experts in investing money. These investments generate returns, which are distributed among the investors. These are long-term investments. They provide greater returns than FDs and government bonds.<h2>What are Stocks?</h2>Stocks simply mean ownership in a firm or a conglomerate. Once a company is listed on a stock exchange, people buy bits of it. These pieces of a company are called shares. If you buy these shares, you become a shareholder. The values of these shares increase and decrease on the basis of the firm's performance and market trends. They can both be short-term and long-term investments. However, they are subject to volatility in the market and carry greater risks.<h2>Which instrument is good for beginners?</h2>Beginners should decide whether a mutual fund or stocks are better for them using the following factors.<h2>Risk Tolerance</h2>They should assess how much risk they can take. This is because sometimes, stocks can provide faster returns. However, stock values also drop in a matter of minutes. Mutual funds are more stable as far as risk is concerned. Hence, one must be willing to take more risk if investing in stocks. Mutual funds also carry risks. However, compared to stocks, they are considered safer.&nbsp;<h2>Knowledge of investments</h2>Those investing in stocks should have deep knowledge about the market. They should also have deep knowledge about the companies they want to invest in. Mutual funds also require knowledge. However, one must pick the right type of funds.<h2>Amount of investment</h2>In mutual funds, one can keep investing using a small amount of money. SIPs start with as low as Rs 100 per month. However, in stock markets, one must have capital to generate profit.Investors can track the performance of their investments through many apps. They also use these apps to invest. If a person has a greater risk appetite and is willing to learn the nitty-gritties of the market, they can invest in stocks. Those who want to invest long-term and want experts to handle their money can invest in mutual funds.

For those who are entering the investment game, two very confusing choices exist: mutual funds and stocks. 

For those who are entering the investment game, two very confusing choices exist: mutual funds and stocks. These investment instruments are for those with a greater risk appetite and those who want a greater return on their investments. Who are mutual funds for? Who are stocks for? What's the difference between mutual funds and stocks? Here are all your questions answered. Stocks promise more returns. However, one must have deep knowledge about the market to do that. Most of the investors who invest in the stock market lose their investments. In the case of mutual funds, a person can invest indirectly in the stock market. Experts invest in stock markets through mutual funds. What are mutual funds? In mutual funds, lakhs of investors park their money. This money is invested in several options, including stocks, bonds, and other securities. They are managed by fund managers who are experts in investing money. These investments generate returns, which are distributed among the investors. These are long-term investments. They provide greater returns than FDs and government bonds. What are Stocks? Stocks simply mean ownership in a firm or a conglomerate. Once a company is listed on a stock exchange, people buy bits of it. These pieces of a company are called shares. If you buy these shares, you become a shareholder. The values of these shares increase and decrease on the basis of the firm's performance and market trends. They can both be short-term and long-term investments. However, they are subject to volatility in the market and carry greater risks. Which instrument is good for beginners? Beginners should decide whether a mutual fund or stocks are better for them using the following factors. Risk Tolerance They should assess how much risk they can take. This is because sometimes, stocks can provide faster returns. However, stock values also drop in a matter of minutes. Mutual funds are more stable as far as risk is concerned. Hence, one must be willing to take more risk if investing in stocks. Mutual funds also carry risks. However, compared to stocks, they are considered safer. Knowledge of investments Those investing in stocks should have deep knowledge about the market. They should also have deep knowledge about the companies they want to invest in. Mutual funds also require knowledge. However, one must pick the right type of funds. Amount of investment In mutual funds, one can keep investing using a small amount of money. SIPs start with as low as Rs 100 per month. However, in stock markets, one must have capital to generate profit. Investors can track the performance of their investments through many apps. They also use these apps to invest. If a person has a greater risk appetite and is willing to learn the nitty-gritties of the market, they can invest in stocks. Those who want to invest long-term and want experts to handle their money can invest in mutual funds.

Mutual funds vs stocks: Those who want to invest long-term and want experts to handle their money can invest in mutual funds. Both have merits and demerits. Here's how to make a smart choice between mutual funds and stock markets.

Mutual funds or stocks: Which is better for beginners?

JPMorgan CEO Jamie Dimon has said that a recession can hit the US economy by 2026, even though the GDP growth rate was 3.8 per cent in the past quarter.&nbsp;Jamie Dimon is known for his analysis of the state of the US economy. He said in an interview earlier&nbsp;this week that a recession could hit the US in 2026.&nbsp;"I think [a recession] could happen in 2026—I’m not worried about it, is a different statement. We’ll deal with it, we’ll serve our clients, we’ll navigate through it. A lot of us have been through them before," he said.<h2>‘Certain people will get hurt’</h2>He earlier warned that the US economy&nbsp;was weakening.&nbsp;In an interview with Bloomberg, he said no one&nbsp;wishes for a recession. "You don’t wish it, because you know certain people get hurt. How does it all sort out? We’ll see," he added.&nbsp;He said the current government shutdown isn't helping the economy.&nbsp;He told the BBC in an interview that there is a higher risk of a serious fall in US stocks. He said he is worried about a serious market correction. He said it could come between the next six months to two years.&nbsp;He also said that the US has become a less reliable partner.&nbsp;He said the US stock markets were overheated. "I am far more worried about that than others," he added.&nbsp;He said factors like geopolitical environment, fiscal spending, and the remilitarization of the world are creating an atmosphere of uncertainty.&nbsp;"All these things cause a lot of issues that we don't know how to answer," he added.&nbsp;His remarks came days after the Bank of England warned that the values of AI tech companies "appear stretched" with a rising risk of a "sharp correction".&nbsp;He said some of the money&nbsp;invested in AI would be lost. However, AI as a concept will succeed.&nbsp;He also called for greater safety in the world.&nbsp;"People talk about stockpiling things like crypto, I always say we should be stockpiling bullets, guns, and bombs. The world's a much more dangerous place, and I'd rather have safety than not," he added.&nbsp;He also said that the US central bank should remain independent.

JPMorgan CEO Jamie Dimon has said that a recession can hit the US economy by 2026, even though the GDP growth rate was 3.8 per cent in the past quarter. He said in an interview that his firm is ready to navigate the recession.

JPMorgan CEO Jamie Dimon has said that a recession can hit the US economy by 2026, even though the GDP growth rate was 3.8 per cent in the past quarter. Jamie Dimon is known for his analysis of the state of the US economy. He said in an interview earlier this week that a recession could hit the US in 2026. "I think [a recession] could happen in 2026—I’m not worried about it, is a different statement. We’ll deal with it, we’ll serve our clients, we’ll navigate through it. A lot of us have been through them before," he said. ‘Certain people will get hurt’ He earlier warned that the US economy was weakening. In an interview with Bloomberg, he said no one wishes for a recession. "You don’t wish it, because you know certain people get hurt. How does it all sort out? We’ll see," he added. He said the current government shutdown isn't helping the economy. He told the BBC in an interview that there is a higher risk of a serious fall in US stocks. He said he is worried about a serious market correction. He said it could come between the next six months to two years. He also said that the US has become a less reliable partner. He said the US stock markets were overheated. "I am far more worried about that than others," he added. He said factors like geopolitical environment, fiscal spending, and the remilitarization of the world are creating an atmosphere of uncertainty. "All these things cause a lot of issues that we don't know how to answer," he added. His remarks came days after the Bank of England warned that the values of AI tech companies "appear stretched" with a rising risk of a "sharp correction". He said some of the money invested in AI would be lost. However, AI as a concept will succeed. He also called for greater safety in the world. "People talk about stockpiling things like crypto, I always say we should be stockpiling bullets, guns, and bombs. The world's a much more dangerous place, and I'd rather have safety than not," he added. He also said that the US central bank should remain independent.

JPMorgan Chase CEO Jamie Dimon's recession warning:&nbsp;

JPMorgan CEO Jamie Dimon's massive recession warning: 'Sharp correction in...'

Elon Musk's firm X, formerly called Twitter, has reportedly agreed to settle a $128 million lawsuit filed by former CEO Parag Agrawal, who was sacked after the SpaceX founder took over the company.&nbsp;Agrawal and three top officials had filed the suit alleging that they weren't paid severance money after their separation from the social media platform. After taking over, Musk overhauled the workforce and renamed Twitter to 'X'.&nbsp;The deal was disclosed in a September 30 federal court filing. However, the terms of the settlement weren't disclosed. A lawyer said in the filing that some conditions need to be met in the near term for the settlement to be fulfilled.&nbsp;Elon Musk and his 6000 laid-off employees agreed in August to settle a $500 million suit. The employees had made similar claims that they were not paid severance after Musk took over the social media platform.&nbsp;Musk acquired Twitter in 2022. This was after he tried to renege on his $44 billion takeover offer. A court later ruled against him.&nbsp;After taking over X, Elon Musk sacked Agrawal. Later, several of the top officials, including Agrawal, sued X for not paying proper severance.<h2>Parag Agrawal's new venture</h2>Agrawal launched Parallel Web Systems Inc. in 2023, a cloud platform built to help artificial intelligence systems conduct large-scale online research.&nbsp;The company, according to reports, has secured $30 million.&nbsp;"Some of the fastest-growing AI companies use Parallel to bring web intelligence directly into their platform and agents. A public company automates traditionally human workflows, exceeding human-level accuracy with Parallel. Coding agents rely on our search to find docs and debug issues," he had written on X.

Elon Musk's firm X, formerly called Twitter, has reportedly agreed to settle a $128 million lawsuit filed by former CEO Parag Agrawal, who was sacked after the SpaceX founder took over the company.

Elon Musk's firm X, formerly called Twitter, has reportedly agreed to settle a $128 million lawsuit filed by former CEO Parag Agrawal, who was sacked after the SpaceX founder took over the company. Agrawal and three top officials had filed the suit alleging that they weren't paid severance money after their separation from the social media platform. After taking over, Musk overhauled the workforce and renamed Twitter to 'X'. The deal was disclosed in a September 30 federal court filing. However, the terms of the settlement weren't disclosed. A lawyer said in the filing that some conditions need to be met in the near term for the settlement to be fulfilled. Elon Musk and his 6000 laid-off employees agreed in August to settle a $500 million suit. The employees had made similar claims that they were not paid severance after Musk took over the social media platform. Musk acquired Twitter in 2022. This was after he tried to renege on his $44 billion takeover offer. A court later ruled against him. After taking over X, Elon Musk sacked Agrawal. Later, several of the top officials, including Agrawal, sued X for not paying proper severance. Parag Agrawal's new venture Agrawal launched Parallel Web Systems Inc. in 2023, a cloud platform built to help artificial intelligence systems conduct large-scale online research. The company, according to reports, has secured $30 million. "Some of the fastest-growing AI companies use Parallel to bring web intelligence directly into their platform and agents. A public company automates traditionally human workflows, exceeding human-level accuracy with Parallel. Coding agents rely on our search to find docs and debug issues," he had written on X.

X-Parag Agrawal settlement: The deal was disclosed in a September 30 federal court filing. However, the terms of the settlement weren't disclosed.

Elon Musk's X, ex-Twitter CEO Parag Agrawal settle $128 million lawsuit: Report

Weeks after US President Donald Trump imposed a prohibitive&nbsp;fee of $100,000 on H-1B visa applications, Nvidia's CEO, Jensen Huang, has stated that the company will continue to sponsor visas and cover the costs of importing talent from abroad. His reported message is being seen as a measure to reassure the company's employees amid panic and confusion among tech workers on H-1B visas about their future in the United States, the world's largest economy.&nbsp;Donald Trump, who has turned to protectionism since becoming the President of the US for the second time, imposed the fee on H-1B visas to attract top talent from abroad and save mid-level jobs for Americans amid job uncertainties&nbsp;due to the artificial intelligence revolution.&nbsp;Donald Trump's move is expected to worst-hit Indian IT companies, which earn a bulk of their revenues from on-site projects in the United States. Experts believe&nbsp;Indian IT firms may rely on local talent.&nbsp;Nvidia has a significant number of employees from overseas. Huang, one of the richest people in the world, says that half of the AI researchers in the world are of Chinese origin.<h2>Nvidia CEO Jensen Huang on Trump's move</h2>Huang wrote in a message to staff, cited by Business Insider, that the company's success wouldn't be possible without immigration.&nbsp;"As one of many immigrants at Nvidia, I know that the opportunities we've found in America have profoundly shaped our lives. And the miracle of Nvidia — built by all of you, and by brilliant colleagues around the world — would not be possible without immigration," Huang was quoted as saying by Reuters, citing the report.&nbsp;He further said that legal immigration remains essential to ensuring the US continues to lead in technology and ideas.&nbsp;Nvidia is powering the AI revolution by maintaining market leadership in the production of graphics cards, the chips responsible for processing AI tasks.&nbsp;"Nvidia would not be possible without you," he added.

Weeks after US President Donald Trump imposed a prohibitive fee of $100,000 on H-1B visa applications, Nvidia's CEO, Jensen Huang, has said that the company will continue to sponsor visas and foot the bill to import talent from abroad. 

Weeks after US President Donald Trump imposed a prohibitive fee of $100,000 on H-1B visa applications, Nvidia's CEO, Jensen Huang, has stated that the company will continue to sponsor visas and cover the costs of importing talent from abroad. His reported message is being seen as a measure to reassure the company's employees amid panic and confusion among tech workers on H-1B visas about their future in the United States, the world's largest economy. Donald Trump, who has turned to protectionism since becoming the President of the US for the second time, imposed the fee on H-1B visas to attract top talent from abroad and save mid-level jobs for Americans amid job uncertainties due to the artificial intelligence revolution. Donald Trump's move is expected to worst-hit Indian IT companies, which earn a bulk of their revenues from on-site projects in the United States. Experts believe Indian IT firms may rely on local talent. Nvidia has a significant number of employees from overseas. Huang, one of the richest people in the world, says that half of the AI researchers in the world are of Chinese origin. Nvidia CEO Jensen Huang on Trump's move Huang wrote in a message to staff, cited by Business Insider, that the company's success wouldn't be possible without immigration. "As one of many immigrants at Nvidia, I know that the opportunities we've found in America have profoundly shaped our lives. And the miracle of Nvidia — built by all of you, and by brilliant colleagues around the world — would not be possible without immigration," Huang was quoted as saying by Reuters, citing the report. He further said that legal immigration remains essential to ensuring the US continues to lead in technology and ideas. Nvidia is powering the AI revolution by maintaining market leadership in the production of graphics cards, the chips responsible for processing AI tasks. "Nvidia would not be possible without you," he added.

Jensen Huang's H-1B defiance: He said that legal immigration remains essential to ensuring the US continues to lead in technology and ideas.

Jensen Huang's H-1B defiance: 'Nvidia won't be possible without immigrants'

V Narayanan, Chairman of the Indian Space Research Organisation (ISRO), on Wednesday said that India is poised to stand with the developed spacefaring nations by 2040, with plans underway to achieve parity in launcher capabilities.&nbsp;Addressing the India Mobile Congress (IMC) 2025 in the national capital, ISRO Chief said, “By 2040, India will be in par with any other developed spacefaring nation in terms of launcher capability, in terms of satellite capability, in terms of scientific missions, in terms of ground equipment.”&nbsp;He credited the leadership of Prime Minister Narendra Modi for providing vision and direction.&nbsp;Addressing the audience, Narayanan traced India's technological transformation since Independence.&nbsp;"In 1947, we had only about 84,000 telephone lines for a population of 350 million. I come from a village in Kanyakumari district, and I still remember that even in the 1990s, there was no telephone connectivity for a 5 km radius," he said, sharing a personal anecdote of being unable to contact his parents during his 10-month stay in Russia in 1993.&nbsp;During the address, Narayanan emphasised how India's communication revolution has been powered by its space program. From launching the first satellite, Aryabhata, in 1975 and demonstrating mass communication through a borrowed US satellite signal in the same year, India has scaled dramatically.&nbsp;"Today, 85 per cent of households have smartphones. Almost all districts have 5G coverage, almost 99.6 per cent," he said.&nbsp;Highlighting ISRO's achievements, he noted that India now operates 18 communication satellites with 354 transponders and 73 Gbps of high-throughput capacity. The GSAT-11 satellite alone weighs 6,000 kg and continues to serve with high efficiency. He also noted the targeted efforts to ensure connectivity in the Northeastern region with dedicated spot beams.&nbsp;Narayanan said ISRO's contributions go beyond national interest. "We strongly believe in the growth of the global community. Last year alone, we launched 72 satellites through two missions. This month, we'll launch another communication satellite," he stated.

V Narayanan, Chairman of the Indian Space Research Organisation (ISRO), on Wednesday said that India is poised to stand with the developed spacefaring nations by 2040, with plans underway to achieve parity in launcher capabilities.

V Narayanan, Chairman of the Indian Space Research Organisation (ISRO), on Wednesday said that India is poised to stand with the developed spacefaring nations by 2040, with plans underway to achieve parity in launcher capabilities. Addressing the India Mobile Congress (IMC) 2025 in the national capital, ISRO Chief said, “By 2040, India will be in par with any other developed spacefaring nation in terms of launcher capability, in terms of satellite capability, in terms of scientific missions, in terms of ground equipment.” He credited the leadership of Prime Minister Narendra Modi for providing vision and direction. Addressing the audience, Narayanan traced India's technological transformation since Independence. "In 1947, we had only about 84,000 telephone lines for a population of 350 million. I come from a village in Kanyakumari district, and I still remember that even in the 1990s, there was no telephone connectivity for a 5 km radius," he said, sharing a personal anecdote of being unable to contact his parents during his 10-month stay in Russia in 1993. During the address, Narayanan emphasised how India's communication revolution has been powered by its space program. From launching the first satellite, Aryabhata, in 1975 and demonstrating mass communication through a borrowed US satellite signal in the same year, India has scaled dramatically. "Today, 85 per cent of households have smartphones. Almost all districts have 5G coverage, almost 99.6 per cent," he said. Highlighting ISRO's achievements, he noted that India now operates 18 communication satellites with 354 transponders and 73 Gbps of high-throughput capacity. The GSAT-11 satellite alone weighs 6,000 kg and continues to serve with high efficiency. He also noted the targeted efforts to ensure connectivity in the Northeastern region with dedicated spot beams. Narayanan said ISRO's contributions go beyond national interest. "We strongly believe in the growth of the global community. Last year alone, we launched 72 satellites through two missions. This month, we'll launch another communication satellite," he stated.

ISRO news: V Narayanan credited the leadership of Prime Minister Narendra Modi for providing vision and direction.&nbsp;

India to join ranks of leading spacefaring nations by 2040: ISRO Chief

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has said that the artificial intelligence (AI) revolution is transforming industries with unprecedented speed but poses risks if left unchecked. He said that the new technology promises extraordinary efficiency, inclusion, and innovation. However, it must be accompanied by rigorous oversight to safeguard financial stability. He was addressing the Global Fintech Fest (GFF) 2025 in Mumbai. He said that AI carries a dual narrative of promise and peril.<h2>What RBI Governor T Rabi Sankar said on artificial intelligence</h2>"AI is demonstrating its ability in ways unimaginable a few years back. India, too, has been a notable participant in this journey. But as with all powerful innovations, AI carries a dual narrative of promise and peril," Sankar added.&nbsp;Talking about AI integration, he said that the margin for error in finance is narrower than in other fields.&nbsp;He stressed that the integration of AI into financial systems must be treated with profound responsibility. "In finance, the margin for error is narrower, as financial institutions are built on trust and economies prosper on stability," he said.&nbsp;The RBI Deputy Governor added that AI in financial services should be designed with safety at its core, not as an afterthought. He said AI applications mustn't be allowed to destabilize markets, payment systems, and consumer confidence.&nbsp;He also said AI systems must be subjected to rigorous oversight and layered with inherent checks, and safety must be built into the design from conception to real-world deployment.&nbsp;He observed that retrofitting safeguards later can be inadequate and can destabilize the markets.&nbsp;He said RBI wants technological advancement to align with financial prudence.&nbsp;He said whether AI displaces jobs or creates new opportunities will depend on how "we adapt and govern its use".

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has said that the artificial intelligence (AI) revolution is transforming industries with unprecedented speed but poses risks if left unchecked. 

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has said that the artificial intelligence (AI) revolution is transforming industries with unprecedented speed but poses risks if left unchecked. He said that the new technology promises extraordinary efficiency, inclusion, and innovation. However, it must be accompanied by rigorous oversight to safeguard financial stability. He was addressing the Global Fintech Fest (GFF) 2025 in Mumbai. He said that AI carries a dual narrative of promise and peril. What RBI Governor T Rabi Sankar said on artificial intelligence "AI is demonstrating its ability in ways unimaginable a few years back. India, too, has been a notable participant in this journey. But as with all powerful innovations, AI carries a dual narrative of promise and peril," Sankar added. Talking about AI integration, he said that the margin for error in finance is narrower than in other fields. He stressed that the integration of AI into financial systems must be treated with profound responsibility. "In finance, the margin for error is narrower, as financial institutions are built on trust and economies prosper on stability," he said. The RBI Deputy Governor added that AI in financial services should be designed with safety at its core, not as an afterthought. He said AI applications mustn't be allowed to destabilize markets, payment systems, and consumer confidence. He also said AI systems must be subjected to rigorous oversight and layered with inherent checks, and safety must be built into the design from conception to real-world deployment. He observed that retrofitting safeguards later can be inadequate and can destabilize the markets. He said RBI wants technological advancement to align with financial prudence. He said whether AI displaces jobs or creates new opportunities will depend on how "we adapt and govern its use".

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar stressed that the integration of AI into financial systems must be treated with profound responsibility.

RBI deputy governor weighs on AI risks: 'Carries dual narrative of promise, peril'

Amid the artificial intelligence revolution, Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), on Wednesday said that quantum computing will pose a threat to the current digital security systems. He said that quantum computers will make cryptography redundant with their computing prowess.<h2>Why would quantum computing prove to be a threat?</h2>"Wherever in the financial sector or somewhere else, Cryptography is our standard used key for passwords, we need to prepare for it and work for cryptography-proof passwords, as after the introduction of Quantum computing, Cryptography will break," Pandey said.&nbsp;Cryptography is a technique of securing information and communications using codes to ensure confidentiality, integrity, and authentication.&nbsp;Quantum computing uses the principles of quantum mechanics to solve complex problems. They are way more powerful than traditional computers. Quantum computers can be even more powerful than modern supercomputers as they can easily solve complex problems in sectors like medicine, AI, financial modeling, and cryptography.&nbsp;The remark comes even as artificial intelligence is upending global job markets and the economy.&nbsp;He further said that every aspect of the Indian securities market has been redefined by technology. He said tech is at the core of every step, and the Indian securities market is being shaped by reforms and an ecosystem that is vibrant, resilient, and inclusive.&nbsp;He also said technology has made the market faster, simpler, and safer.&nbsp;He said the Indian markets must balance speed of growth with safety.&nbsp;"Let us continue to harness technology to build thoughtfully, collaboratively, and with an unwavering focus on trust, a capital market that truly embodies a resilient and inclusive India," he added.

Amid the artificial intelligence revolution, Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), on Wednesday said that quantum computing will pose a threat to the current digital security systems. 

Amid the artificial intelligence revolution, Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), on Wednesday said that quantum computing will pose a threat to the current digital security systems. He said that quantum computers will make cryptography redundant with their computing prowess. Why would quantum computing prove to be a threat? "Wherever in the financial sector or somewhere else, Cryptography is our standard used key for passwords, we need to prepare for it and work for cryptography-proof passwords, as after the introduction of Quantum computing, Cryptography will break," Pandey said. Cryptography is a technique of securing information and communications using codes to ensure confidentiality, integrity, and authentication. Quantum computing uses the principles of quantum mechanics to solve complex problems. They are way more powerful than traditional computers. Quantum computers can be even more powerful than modern supercomputers as they can easily solve complex problems in sectors like medicine, AI, financial modeling, and cryptography. The remark comes even as artificial intelligence is upending global job markets and the economy. He further said that every aspect of the Indian securities market has been redefined by technology. He said tech is at the core of every step, and the Indian securities market is being shaped by reforms and an ecosystem that is vibrant, resilient, and inclusive. He also said technology has made the market faster, simpler, and safer. He said the Indian markets must balance speed of growth with safety. "Let us continue to harness technology to build thoughtfully, collaboratively, and with an unwavering focus on trust, a capital market that truly embodies a resilient and inclusive India," he added.

Tuhin Kanta Pandey said technology has made the market faster, simpler, and safer. He said the Indian markets must balance speed of growth with safety.&nbsp;

Worried about AI? SEBI chief highlights another threat to digital security

India's tax e-filing portal was reportedly exposed to a serious security gap for a brief period that allowed logged-in users to view the private data of others. What was described by TechCrunch as a "glaring hole" was discovered by independent security researchers when they were trying to file their own tax returns on the Income Tax Department’s e-filing portal. The security lapse allowed them, while logged in, to view the private data of other taxpayers, including Aadhaar numbers and financial details.<h2>Tax e-filing portal security vulnerability : What happened?</h2>Independent security researchers discovered that the flaw in the portal’s web code permitted the manipulation of a request parameter, such as switching one PAN number for another, to retrieve personal and financial records without any authorisation check. The flaw, technically known as an Insecure Direct Object Reference (IDOR), is a well-known but sometimes overlooked vulnerability, TechCrunch reported.Also read: <a href="https://www.wionews.com/business-economy/gst-2-0-what-experts-and-industry-leaders-said-on-the-impact-of-healthcare-1758536240819">GST 2.0: What experts and industry leaders said on the impact of healthcare</a>&nbsp;IDOR occurs when an application exposes internal object identifiers (such as database IDs or PANs) without proper access controls, allowing attackers or users to access data simply by modifying inputs in the request URL. This flaw did not require advanced technical skills and could be exploited using basic browser developer tools or software.<h2>What information was accessible?</h2>The information that could be accessed included full names, home addresses, email addresses, phone numbers, dates of birth, bank account details, Aadhaar numbers, and tax-related data of individuals, even if they had not yet filed their returns. The researchers also found that corporate taxpayer data was vulnerable, including registered business profiles and financial summaries.<h2>What was done to resolve the issue?</h2>The vulnerability was reported to CERT-In, India’s Computer Emergency Response Team under the Ministry of Electronics and Information Technology. CERT-In coordinated with the Income Tax Department and a patch to fix the vulnerability was reportedly implemented by October 2, before the issue was publicly disclosed in the media.Also read: <a href="https://www.wionews.com/opinions/why-gst-2-0-is-a-global-signal-that-india-means-business-explained-1757062869769">Why GST 2.0 is a global signal that India means business, EXPLAINED</a>TechCrunch and other outlets delayed publishing the vulnerability until the issue was resolved. The public response from the government has been minimal so far. The Income Tax Department acknowledged media queries but has not issued an official statement or user notification about the incident at the time of writing this. Experts have recommended a comprehensive audit to determine whether any taxpayer data was accessed or exfiltrated during the window of exposure.<a href="https://www.wionews.com/videos/gst-2-0-new-gst-2-0-takes-effect-food-cars-tvs-become-cheaper-1758617450689/embed">https://www.wionews.com/videos/gst-2-0-new-gst-2-0-takes-effect-food-cars-tvs-become-cheaper-1758617450689/embed</a>The tax department’s standard digital safeguards include two-factor authentication via One Time Password (OTP) sent to registered mobile numbers or email addresses, secure login messages, and optional multi-factor authentication through the “e-Filing Vault” feature. However, these front-end protections do not defend against vulnerabilities like IDOR that occur due to poor access control in backend systems.<h2>Taxpayers, do not assume safety: Here is how to protect yourself</h2>If you are an Indian taxpayer, do not assume security purely on the basis of the e-filing portal’s assurances. You can take the following steps to reduce your risk of fraud or identity theft.Also read: <a href="https://www.wionews.com/business-economy/gst-2-0-centre-pulls-up-e-commerce-companies-for-not-reducing-prices-says-report-1759232839602">GST 2.0: Centre pulls up e-commerce companies for not reducing prices, says report</a>1. Always use strong and unique passwords for your tax portal account. Change your password regularly and avoid reusing it across other services.2. Never share your login credentials, OTPs, or security questions with anyone, including self-proclaimed government officials.3. If not already done, enable two-factor authentication for both login and password reset processes via the “e-Filing Vault” section of your account profile.4. Monitor your e-filing portal account regularly for any unauthorised changes, especially to your email address, mobile number, or linked bank account.5. Be alert to phishing emails or SMS messages that claim to be from the tax department. Always verify the email domain and website address before clicking on any links or entering login details. The official site is http://www.incometax.gov.in.6. Use secure devices and trusted networks when accessing the e-filing portal. Avoid filing your taxes on public Wi-Fi networks and ensure your browser and antivirus software are up to date.7. If you notice any unusual activity on your profile or suspect your data may have been leaked, report it immediately. You can contact cybercrime authorities via http://www.cybercrime.gov.in or call the income tax helpline at 1800-103-4215. You may also file a grievance directly through the e-filing portal.

A recently discovered security flaw in India's tax e-filing portal allowed some users access others' private data. Taxpayers should stay vigilant and follow steps mentioned here to secure their accounts from misuse.



India's tax e-filing portal was reportedly exposed to a serious security gap for a brief period that allowed logged-in users to view the private data of others. What was described by TechCrunch as a "glaring hole" was discovered by independent security researchers when they were trying to file their own tax returns on the Income Tax Department’s e-filing portal. The security lapse allowed them, while logged in, to view the private data of other taxpayers, including Aadhaar numbers and financial details. Tax e-filing portal security vulnerability : What happened? Independent security researchers discovered that the flaw in the portal’s web code permitted the manipulation of a request parameter, such as switching one PAN number for another, to retrieve personal and financial records without any authorisation check. The flaw, technically known as an Insecure Direct Object Reference (IDOR), is a well-known but sometimes overlooked vulnerability, TechCrunch reported. Also read: GST 2.0: What experts and industry leaders said on the impact of healthcare IDOR occurs when an application exposes internal object identifiers (such as database IDs or PANs) without proper access controls, allowing attackers or users to access data simply by modifying inputs in the request URL. This flaw did not require advanced technical skills and could be exploited using basic browser developer tools or software. What information was accessible? The information that could be accessed included full names, home addresses, email addresses, phone numbers, dates of birth, bank account details, Aadhaar numbers, and tax-related data of individuals, even if they had not yet filed their returns. The researchers also found that corporate taxpayer data was vulnerable, including registered business profiles and financial summaries. What was done to resolve the issue? The vulnerability was reported to CERT-In, India’s Computer Emergency Response Team under the Ministry of Electronics and Information Technology. CERT-In coordinated with the Income Tax Department and a patch to fix the vulnerability was reportedly implemented by October 2, before the issue was publicly disclosed in the media. Also read: Why GST 2.0 is a global signal that India means business, EXPLAINED TechCrunch and other outlets delayed publishing the vulnerability until the issue was resolved. The public response from the government has been minimal so far. The Income Tax Department acknowledged media queries but has not issued an official statement or user notification about the incident at the time of writing this. Experts have recommended a comprehensive audit to determine whether any taxpayer data was accessed or exfiltrated during the window of exposure. https://www.wionews.com/videos/gst-2-0-new-gst-2-0-takes-effect-food-cars-tvs-become-cheaper-1758617450689/embed The tax department’s standard digital safeguards include two-factor authentication via One Time Password (OTP) sent to registered mobile numbers or email addresses, secure login messages, and optional multi-factor authentication through the “e-Filing Vault” feature. However, these front-end protections do not defend against vulnerabilities like IDOR that occur due to poor access control in backend systems. Taxpayers, do not assume safety: Here is how to protect yourself If you are an Indian taxpayer, do not assume security purely on the basis of the e-filing portal’s assurances. You can take the following steps to reduce your risk of fraud or identity theft. Also read: GST 2.0: Centre pulls up e-commerce companies for not reducing prices, says report 1. Always use strong and unique passwords for your tax portal account. Change your password regularly and avoid reusing it across other services. 2. Never share your login credentials, OTPs, or security questions with anyone, including self-proclaimed government officials. 3. If not already done, enable two-factor authentication for both login and password reset processes via the “e-Filing Vault” section of your account profile. 4. Monitor your e-filing portal account regularly for any unauthorised changes, especially to your email address, mobile number, or linked bank account. 5. Be alert to phishing emails or SMS messages that claim to be from the tax department. Always verify the email domain and website address before clicking on any links or entering login details. The official site is http://www.incometax.gov.in. 6. Use secure devices and trusted networks when accessing the e-filing portal. Avoid filing your taxes on public Wi-Fi networks and ensure your browser and antivirus software are up to date. 7. If you notice any unusual activity on your profile or suspect your data may have been leaked, report it immediately. You can contact cybercrime authorities via http://www.cybercrime.gov.in or call the income tax helpline at 1800-103-4215. You may also file a grievance directly through the e-filing portal.

A recently discovered security flaw in India's tax e-filing portal allowed some users access others' private data. Taxpayers should stay vigilant and follow steps mentioned here to secure their accounts from misuse.&nbsp;

'Glaring hole' in India's tax e-filing portal allowed some users to access other taxpayers' details. Here is how to stay safe

Softbank Group said on Wednesday that it will buy Swiss engineering group ABB, a robotics company, in a whopping $5.4 billion deal. The company, helmed by CEO Masayoshi Son, already has investments in the sector. ABB competes with Japan's Fanuc and Yaskawa in the industrial automation business. The robotics business has struggled with falling profitability and sales in recent years, according to Reuters.&nbsp;The decision is the first major move under ABB CEO Morten Wierod. He said in a statement that both companies share the same perspective that the world is entering a new era of AI-based robotics.&nbsp;"ABB Robotics will benefit from the combination of its leading technology and deep industry expertise with SoftBank's state-of-the-art capabilities in AI, robotics, and next-generation computing," he added.&nbsp;After the deal was announced, ABB shares were trading 3 per cent higher in pre-market activity in Zurich.&nbsp;SoftBank's shares also rose 1 per cent. However, they were down 1.57 per cent compared to Tuesday. The deal will be closed in mid-to-late 2026. ABB will generate proceeds of roughly $5.3 billion from the divestment.&nbsp;The money will be used in investing in organic growth, acquisitions, and returning capital to shareholders through dividends and share buybacks.&nbsp;The robotics business employs 7,000 people. It generated sales of $2.3 billion last year.&nbsp;The company's branch of the business had been struggling with subdued demand in Asia.&nbsp;New installations remained largely unchanged at 542,000 units in 2024, according to the International Federation of Robotics.

Softbank Group said on Wednesday that it will buy Swiss engineering group ABB, a robotics company, in a whopping $5.4 billion deal. 

Softbank Group said on Wednesday that it will buy Swiss engineering group ABB, a robotics company, in a whopping $5.4 billion deal. The company, helmed by CEO Masayoshi Son, already has investments in the sector. ABB competes with Japan's Fanuc and Yaskawa in the industrial automation business. The robotics business has struggled with falling profitability and sales in recent years, according to Reuters. The decision is the first major move under ABB CEO Morten Wierod. He said in a statement that both companies share the same perspective that the world is entering a new era of AI-based robotics. "ABB Robotics will benefit from the combination of its leading technology and deep industry expertise with SoftBank's state-of-the-art capabilities in AI, robotics, and next-generation computing," he added. After the deal was announced, ABB shares were trading 3 per cent higher in pre-market activity in Zurich. SoftBank's shares also rose 1 per cent. However, they were down 1.57 per cent compared to Tuesday. The deal will be closed in mid-to-late 2026. ABB will generate proceeds of roughly $5.3 billion from the divestment. The money will be used in investing in organic growth, acquisitions, and returning capital to shareholders through dividends and share buybacks. The robotics business employs 7,000 people. It generated sales of $2.3 billion last year. The company's branch of the business had been struggling with subdued demand in Asia. New installations remained largely unchanged at 542,000 units in 2024, according to the International Federation of Robotics.

Softbank-ABB deal: After the deal was announced, ABB shares were trading 3 per cent higher in pre-market activity in Zurich.

Japan's SoftBank to buy ABB robotics unit for $5.4 billion

A jury in California ordered Johnson &amp; Johnson (J&amp;J) to pay a whopping $966 million to the family&nbsp;of a woman who attributed her cancer to the use of the company's baby powder. On October 6, the LA Superior Court's jury held the company liable for Mae Moore’s cancer, awarding $16 million in damages and $950 million in punitive damages to the family.<h2>What do we know about the Johnson &amp; Johnson verdict?</h2>The jury found that Johnson &amp; Johnson had concealed asbestos-related risks in its talc powders, Reuters reported. The woman died in 2021, aged 88. Her family had alleged that the company hid the health hazards of its baby products and Shower-to-Shower line.&nbsp;The company has said that it would appeal against what it called an "egregious and unconstitutional verdict", reported Bloomberg. It added that the verdict contradicts other cases where the firm wasn't held liable.&nbsp;Jessica Dean, the lawyer who represented the Moore family, said that it took the family five years to reach the trial stage.&nbsp;J&amp;J is battling 70,000 claims alleging that its talc products caused mesothelioma and ovarian cancer. Several lawsuits have found the firm guilty. Many verdicts were later reduced or overturned.&nbsp;Those who accuse the company of knowing about asbestos contamination in its talc cite internal documents dating back to the 1970s.&nbsp;In 2018, a court awarded $4.7 billion to 20 women. The amount was later reduced to $2.1 billion on appeal.&nbsp;Moore's family told the court that she used the company's baby powder and Shower-to-Shower powder for 80 years without knowing about the cancer risks linked to its talc products.

A jury in California ordered Johnson & Johnson (J&J) to pay a whopping $966 million to the family of a woman who attributed her cancer to the use of the company's baby powder.

A jury in California ordered Johnson & Johnson (J&J) to pay a whopping $966 million to the family of a woman who attributed her cancer to the use of the company's baby powder. On October 6, the LA Superior Court's jury held the company liable for Mae Moore’s cancer, awarding $16 million in damages and $950 million in punitive damages to the family. What do we know about the Johnson & Johnson verdict? The jury found that Johnson & Johnson had concealed asbestos-related risks in its talc powders, Reuters reported. The woman died in 2021, aged 88. Her family had alleged that the company hid the health hazards of its baby products and Shower-to-Shower line. The company has said that it would appeal against what it called an "egregious and unconstitutional verdict", reported Bloomberg. It added that the verdict contradicts other cases where the firm wasn't held liable. Jessica Dean, the lawyer who represented the Moore family, said that it took the family five years to reach the trial stage. J&J is battling 70,000 claims alleging that its talc products caused mesothelioma and ovarian cancer. Several lawsuits have found the firm guilty. Many verdicts were later reduced or overturned. Those who accuse the company of knowing about asbestos contamination in its talc cite internal documents dating back to the 1970s. In 2018, a court awarded $4.7 billion to 20 women. The amount was later reduced to $2.1 billion on appeal. Moore's family told the court that she used the company's baby powder and Shower-to-Shower powder for 80 years without knowing about the cancer risks linked to its talc products.

Johnson &amp; Johnson cancer lawsuit: The company has said that it would appeal against what it called an "egregious and unconstitutional verdict."

US jury asks Johnson & Johnson to pay $966 million to cancer victim's family. What happened?

North Korea–linked hacking groups have reportedly stolen more than $2 billion in cryptocurrency assets so far in 2025, making this perhaps the most lucrative year yet in cybercrime for the regime of Kim Jong Un. Most of the money was taken in a single breach in February involving the Dubai-based exchange Bybit, where approximately $1.46 billion worth of Ethereum was drained from a cold wallet. According to blockchain analytics firm Elliptic and reports in outlets including Reuters and Bloomberg, this marks one of the largest crypto hacks ever recorded. The FBI officially attributed the attack to North Korea, in an operation it dubbed “TraderTraitor”.<h2>North Korea has now stolen more than $6 billion in crypto since 2017</h2>Elliptic said in a blog post that North Korea‑linked hackers have stolen over $2 billion in 2025 alone, based on more than 30 attributed hacks. Cumulatively, North Korea’s cryptocurrency thefts since 2017 now exceed $6 billion. In 2024 alone, North Korean-linked hackers were documented to have extracted around $659 million in a series of high-profile breaches.Also read: <a href="https://www.wionews.com/world/north-korea-s-kim-jong-un-celebrates-soldiers-who-fought-for-russia-calls-them-heroes-1755853724398">North Korea's Kim Jong-Un celebrates soldiers who fought for Russia, calls them 'heroes'</a><h2>2025: A record-setting year for North Korean crypto hacks</h2>The 2025 thefts already amount to three times the value stolen in 2024. In the Bybit hack, about 401,000 ETH coins were transferred out of the exchange. The FBI warned that the stolen funds would likely be laundered and converted to fiat currency.Also read: <a href="https://www.wionews.com/photos/can-you-guess-asia-s-6-most-dangerous-nations-and-where-india-ranks-1759740343817">Can you guess Asia’s 6 most dangerous nations and where India ranks?</a>So far in 2025, more than 30 separate hacks attributed to North Korea-linked entities have taken place. Many of these attacks have targeted cryptocurrency exchanges and decentralised finance (DeFi) platforms. While centralised exchanges remain key targets, analysts note a tactical shift toward social engineering techniques. CoinDesk reported that these include phishing, impersonation, and insider coercion — methods that exploit human vulnerabilities rather than technical weaknesses to access funds.If the current total holds — or rises further, as Elliptic has cautioned it may — 2025 could far surpass the previous record of approximately $1.35 billion stolen in 2022.<h2>How North Korea benefits from crypto hacking</h2>According to various reports, stolen cryptocurrency funds may account for up to 13 per cent of North Korea’s GDP. Some estimates suggest that over half of the regime’s missile development budget is funded through cybercrime. However, these figures are not independently verified due to the extreme secrecy surrounding North Korea’s internal finances.<a href="https://www.wionews.com/videos/north-korea-unveils-new-hypersonic-missile-1759860309991/embed">https://www.wionews.com/videos/north-korea-unveils-new-hypersonic-missile-1759860309991/embed</a>These hacks are widely believed to be carried out by groups under the control of North Korea’s Reconnaissance General Bureau — the country’s main military intelligence agency. Lazarus Group, the most notorious among them, has been linked to multiple high-value attacks.These operations demonstrate just how central cybercrime — especially crypto theft — has become to North Korea’s strategy for evading sanctions and financing its weapons programmes.<h2>Has Kim Jong Un acknowledged this?</h2>No. Kim Jong Un and the North Korean state have never publicly admitted to involvement in cryptocurrency theft or cybercrime. The regime, in fact, consistently denies responsibility for all cyberattacks attributed to it, including those confirmed by the FBI, the United Nations, and independent cybersecurity firms.

 It has been reported that stolen crypto funds may account for up to 13 per cent of North Korea’s GDP. More than half of the regime’s missile development budget is reportedly funded through cybercrime. 

North Korea–linked hacking groups have reportedly stolen more than $2 billion in cryptocurrency assets so far in 2025, making this perhaps the most lucrative year yet in cybercrime for the regime of Kim Jong Un. Most of the money was taken in a single breach in February involving the Dubai-based exchange Bybit, where approximately $1.46 billion worth of Ethereum was drained from a cold wallet. According to blockchain analytics firm Elliptic and reports in outlets including Reuters and Bloomberg, this marks one of the largest crypto hacks ever recorded. The FBI officially attributed the attack to North Korea, in an operation it dubbed “TraderTraitor”. North Korea has now stolen more than $6 billion in crypto since 2017 Elliptic said in a blog post that North Korea‑linked hackers have stolen over $2 billion in 2025 alone, based on more than 30 attributed hacks. Cumulatively, North Korea’s cryptocurrency thefts since 2017 now exceed $6 billion. In 2024 alone, North Korean-linked hackers were documented to have extracted around $659 million in a series of high-profile breaches. Also read: North Korea's Kim Jong-Un celebrates soldiers who fought for Russia, calls them 'heroes' 2025: A record-setting year for North Korean crypto hacks The 2025 thefts already amount to three times the value stolen in 2024. In the Bybit hack, about 401,000 ETH coins were transferred out of the exchange. The FBI warned that the stolen funds would likely be laundered and converted to fiat currency. Also read: Can you guess Asia’s 6 most dangerous nations and where India ranks? So far in 2025, more than 30 separate hacks attributed to North Korea-linked entities have taken place. Many of these attacks have targeted cryptocurrency exchanges and decentralised finance (DeFi) platforms. While centralised exchanges remain key targets, analysts note a tactical shift toward social engineering techniques. CoinDesk reported that these include phishing, impersonation, and insider coercion — methods that exploit human vulnerabilities rather than technical weaknesses to access funds. If the current total holds — or rises further, as Elliptic has cautioned it may — 2025 could far surpass the previous record of approximately $1.35 billion stolen in 2022. How North Korea benefits from crypto hacking According to various reports, stolen cryptocurrency funds may account for up to 13 per cent of North Korea’s GDP. Some estimates suggest that over half of the regime’s missile development budget is funded through cybercrime. However, these figures are not independently verified due to the extreme secrecy surrounding North Korea’s internal finances. https://www.wionews.com/videos/north-korea-unveils-new-hypersonic-missile-1759860309991/embed These hacks are widely believed to be carried out by groups under the control of North Korea’s Reconnaissance General Bureau — the country’s main military intelligence agency. Lazarus Group, the most notorious among them, has been linked to multiple high-value attacks. These operations demonstrate just how central cybercrime — especially crypto theft — has become to North Korea’s strategy for evading sanctions and financing its weapons programmes. Has Kim Jong Un acknowledged this? No. Kim Jong Un and the North Korean state have never publicly admitted to involvement in cryptocurrency theft or cybercrime. The regime, in fact, consistently denies responsibility for all cyberattacks attributed to it, including those confirmed by the FBI, the United Nations, and independent cybersecurity firms.

&nbsp;It has been reported that stolen crypto funds may account for up to 13 per cent of North Korea’s GDP. More than half of the regime’s missile development budget is reportedly funded through cybercrime.&nbsp;

North Korea cryptocurrency thefts in 2025 soar past $2 billion, led by massive Bybit heist in possibly record year: Reports

Gold crossed the $4,002.95 an ounce mark for the first time on Wednesday. The rates of the precious metal jumped on the MCX as well, as gold prices breached the 1,22,000 per 10-gram mark. At 9.40 am, MCX Gold December futures were trading at Rs 1,22,149 per 10 grams. MCX Silver December futures were trading at Rs 1,47,450 per kg.&nbsp;In one of the strongest performances for gold ever, the precious metal rose 50 per cent this year. In September, the prices rose to 12 per cent.<h2>Why has gold rallied this year?</h2>Investors view gold as a safe-haven investment and tend to invest in the precious metal when equity markets are volatile. Due to the unrest caused by the Russia-Ukraine war and the Israel-Gaza conflict, investors have been feeling the need to park their money in gold.&nbsp;The US government shutdown and expectations of more Federal Reserve interest rate cuts are lending support to gold.&nbsp;Concerns over the Fed's independence, caused by President Donald Trump's attacks on the US central bank for supposedly not cutting fast enough, are another boost for the metal, reported AFP.&nbsp;The World Gold Council (WGC) reported in July that the gold demand grew because of an increasingly unpredictable geopolitical environment and price momentum.&nbsp;There has also been strong demand for gold via exchange-traded funds on stock markets. "While early gains this year were driven by tariff-induced volatility in the second quarter, recent momentum has been fueled by strong sentiment and record inflows into gold-backed exchange-traded funds," an analyst told AFP.&nbsp;However, high gold prices have decreased jewelry demand.&nbsp;Bitcoin also recorded high prices. The cryptocurrency topped $126,000 for the first time. It is because investors around the world are looking for diversification.&nbsp;Experts believe that the prices of gold will continue to rise further because the US Fed may cut policy rates in October and December.&nbsp;"Gold's bull run may continue on rate cuts hopes and political and economic uncertainties. Investors should hold their positions. MCX gold prices are expected to move higher to ₹1,25,000 per 10 grams by the end of 2025," Anuj Gupta, a SEBI-registered analyst, told Mint.

Gold crossed the $4,002.95 an ounce mark for the first time on Wednesday. The rates of the precious metal jumped on the MCX as well, as gold prices breached the 1,22,000 per 10-gram mark. 

Gold crossed the $4,002.95 an ounce mark for the first time on Wednesday. The rates of the precious metal jumped on the MCX as well, as gold prices breached the 1,22,000 per 10-gram mark. At 9.40 am, MCX Gold December futures were trading at Rs 1,22,149 per 10 grams. MCX Silver December futures were trading at Rs 1,47,450 per kg. In one of the strongest performances for gold ever, the precious metal rose 50 per cent this year. In September, the prices rose to 12 per cent. Why has gold rallied this year? Investors view gold as a safe-haven investment and tend to invest in the precious metal when equity markets are volatile. Due to the unrest caused by the Russia-Ukraine war and the Israel-Gaza conflict, investors have been feeling the need to park their money in gold. The US government shutdown and expectations of more Federal Reserve interest rate cuts are lending support to gold. Concerns over the Fed's independence, caused by President Donald Trump's attacks on the US central bank for supposedly not cutting fast enough, are another boost for the metal, reported AFP. The World Gold Council (WGC) reported in July that the gold demand grew because of an increasingly unpredictable geopolitical environment and price momentum. There has also been strong demand for gold via exchange-traded funds on stock markets. "While early gains this year were driven by tariff-induced volatility in the second quarter, recent momentum has been fueled by strong sentiment and record inflows into gold-backed exchange-traded funds," an analyst told AFP. However, high gold prices have decreased jewelry demand. Bitcoin also recorded high prices. The cryptocurrency topped $126,000 for the first time. It is because investors around the world are looking for diversification. Experts believe that the prices of gold will continue to rise further because the US Fed may cut policy rates in October and December. "Gold's bull run may continue on rate cuts hopes and political and economic uncertainties. Investors should hold their positions. MCX gold prices are expected to move higher to ₹1,25,000 per 10 grams by the end of 2025," Anuj Gupta, a SEBI-registered analyst, told Mint.

Gold prices cross $4000: Why is the precious metal rallying? In one of the strongest performances for gold ever, the precious metal rose 50 per cent this year. In September, the prices rose to 12 per cent.

Gold prices cross $4000 mark: Will the precious metal continue rising?

The World Bank's latest South Asia Development Update has said that India will remain the world's fastest-growing major economy. The financial institution said that the growth will be driven by strong consumption, improved farm output, and rising rural wages. The report, however, said that South Asia's growth will remain at 6.6 per cent this year, but will slow down in 2026 to 5.8 per cent.<h2>What did the World Bank report say?</h2>The World Bank said that India's economic outlook is strong. It said Bangladesh is set to accelerate, while Sri Lanka is recovering faster than expected.&nbsp;The World Bank further said that the region continues to lead global growth. However, the risk could affect its momentum. He said factors like global economic uncertainty, trade policy shifts, socio-political tensions, and disruptions in labour markets due to emerging technologies like artificial intelligence (AI) can affect the region's growth.&nbsp;"South Asia has enormous economic potential and is still the fastest-growing region in the world. But countries need to proactively address risks to growth," said Johannes Zutt, World Bank Vice President for South Asia.&nbsp;He said the governments of the nations of South Asia can strengthen productivity and create jobs by maximising the benefits of artificial intelligence and easing trade barriers.&nbsp;The report claimed that high tariffs protect shrinking sectors while hurting manufacturing.&nbsp;The World Bank report further said that the economies need to be ready for the rapid transformation brought on by artificial intelligence.&nbsp;It said that educated young workers in sectors such as information technology and business services are vulnerable to job shifts. However, South Asia's workforce has limited exposure to the new technology.&nbsp;"Increasing trade openness and growing adoption of AI could be transformative for South Asia," said Franziska Ohnsorge, World Bank Chief Economist for South Asia.

The World Bank's latest South Asia Development Update has said that India will remain the world's fastest-growing major economy. 

The World Bank's latest South Asia Development Update has said that India will remain the world's fastest-growing major economy. The financial institution said that the growth will be driven by strong consumption, improved farm output, and rising rural wages. The report, however, said that South Asia's growth will remain at 6.6 per cent this year, but will slow down in 2026 to 5.8 per cent. What did the World Bank report say? The World Bank said that India's economic outlook is strong. It said Bangladesh is set to accelerate, while Sri Lanka is recovering faster than expected. The World Bank further said that the region continues to lead global growth. However, the risk could affect its momentum. He said factors like global economic uncertainty, trade policy shifts, socio-political tensions, and disruptions in labour markets due to emerging technologies like artificial intelligence (AI) can affect the region's growth. "South Asia has enormous economic potential and is still the fastest-growing region in the world. But countries need to proactively address risks to growth," said Johannes Zutt, World Bank Vice President for South Asia. He said the governments of the nations of South Asia can strengthen productivity and create jobs by maximising the benefits of artificial intelligence and easing trade barriers. The report claimed that high tariffs protect shrinking sectors while hurting manufacturing. The World Bank report further said that the economies need to be ready for the rapid transformation brought on by artificial intelligence. It said that educated young workers in sectors such as information technology and business services are vulnerable to job shifts. However, South Asia's workforce has limited exposure to the new technology. "Increasing trade openness and growing adoption of AI could be transformative for South Asia," said Franziska Ohnsorge, World Bank Chief Economist for South Asia.

The World Bank said that India's economic outlook is strong. It said Bangladesh is set to accelerate, while Sri Lanka is recovering faster than expected.

India expected to remain world's fastest-growing major economy: World Bank

Artificial intelligence and automation can replace nearly 100 million jobs across sectors in the United States, a Senate report said on Monday. The job cuts can be observed for a period of 10 years, it added. The report was written by Democratic staffers on the Senate Health, Education, Labor, and Pensions (HELP) Committee, led by Senator Bernie Sanders. It highlighted how the artificial intelligence revolution will impact the American economy and workforce.&nbsp;Bernie Sanders, in the report, said that the widespread use of AI and automation can have "consequences" for workers. Over the next decade, 15 types of workforces will see more than half of their workforces replaced by AI and automation, according to The Hill.&nbsp;The report said 89 per cent of the workforce at fast food and counter employees will be replaced over the next decade. This means 3 million fast-food and counter workers will be impacted.&nbsp;Customer service representatives, laborers and freight, stock, and material movers and secretaries, and executive assistants will also be impacted. This report said 83 percent, 81 percent, and 80 percent of those workforces will be replaced.&nbsp;64% of accounting roles, 47% of trucking positions, 40% of nursing jobs, and 65% of teaching assistants will also be replaced.&nbsp;The report called for policy changes to safeguard workers amid the global economy's shift towards AI and automation. It said that the impact of the technology will be determined by a set of choices.&nbsp;It also called for a standardized 32-hour work week, extended overtime and break protections, a minimum wage of at least $17 an hour, elimination of tax loopholes for corporations that use AI and automation.&nbsp;In an op-ed, Sanders said increased technological capacity risks “dehumanizing” individuals. He said the world doesn't need a more efficient society but a healthier, happier world, and more fulfilling lives.&nbsp;Many experts in India and abroad have said that artificial&nbsp;intelligence will promote innovation and will create more jobs.

Artificial intelligence and automation can replace nearly 100 million jobs across sectors in the United States, a Senate report said on Monday.

Artificial intelligence and automation can replace nearly 100 million jobs across sectors in the United States, a Senate report said on Monday. The job cuts can be observed for a period of 10 years, it added. The report was written by Democratic staffers on the Senate Health, Education, Labor, and Pensions (HELP) Committee, led by Senator Bernie Sanders. It highlighted how the artificial intelligence revolution will impact the American economy and workforce. Bernie Sanders, in the report, said that the widespread use of AI and automation can have "consequences" for workers. Over the next decade, 15 types of workforces will see more than half of their workforces replaced by AI and automation, according to The Hill. The report said 89 per cent of the workforce at fast food and counter employees will be replaced over the next decade. This means 3 million fast-food and counter workers will be impacted. Customer service representatives, laborers and freight, stock, and material movers and secretaries, and executive assistants will also be impacted. This report said 83 percent, 81 percent, and 80 percent of those workforces will be replaced. 64% of accounting roles, 47% of trucking positions, 40% of nursing jobs, and 65% of teaching assistants will also be replaced. The report called for policy changes to safeguard workers amid the global economy's shift towards AI and automation. It said that the impact of the technology will be determined by a set of choices. It also called for a standardized 32-hour work week, extended overtime and break protections, a minimum wage of at least $17 an hour, elimination of tax loopholes for corporations that use AI and automation. In an op-ed, Sanders said increased technological capacity risks “dehumanizing” individuals. He said the world doesn't need a more efficient society but a healthier, happier world, and more fulfilling lives. Many experts in India and abroad have said that artificial intelligence will promote innovation and will create more jobs.

The US Senate report also predicted which roles will be most impacted. Customer service representatives, laborers and freight, stock, and material movers and secretaries, and executive assistants will also be impacted.

Senate report predicts 100 million jobs to be lost in the US. Here's why

Global chip giant&nbsp;Nvidia has hit a major milestone. According to the MSCI All Country World Index, the US-based company has overtaken Japan, one of the world's largest economies in the world, as far as market weight is concerned. According to The Kobeissi Letter, Nvidia now represents 5.04 per cent of the MSCI All Country World Index. The index captures 85 per cent of global equity markets, including large and mid-cap stocks.&nbsp;The company's weight has now surpassed&nbsp;Japan's share, which is the world's third-largest stock market. Japan's share weight is 4.78 per cent. China, the UK, and Canada account for 3.33 per cent, 3.23 per cent, and 2.92 per cent.&nbsp;The company's contribution to the index is larger than the combined contribution of both France and Germany.&nbsp;The company used to weigh 3 per cent on the index in 2023. However, with the advent of artificial intelligence and NVIDIA's promise of providing chips to spearhead the AI revolution, the company's weight increased to 5 per cent.<h2>Why has Nvidia become a leading player</h2>Nvidia is the world leader in developing high-performance chips that power artificial intelligence adoption.&nbsp;The company has been posting record revenues from AI infrastructure.&nbsp;Nvidia used to make graphics cards that drove graphics-intensive&nbsp;tasks, including games, on computers and laptops. These are processors that are now key to building the technology behind ChatGPT.&nbsp;Nvidia designs these chips and also offers an entire infrastructure capable of making them work together.&nbsp;Nvidia's market share in this key sector is 80 per cent. America's AMD is the distant second competitor.&nbsp;AMD makes CPUs for personal and business computers.&nbsp;Several cloud provider companies have been working on their own chips to reduce dependence on Nvidia, including Google and Amazon.&nbsp;In China, Huawei ranks among Nvidia's most credible competitors.&nbsp;However, Nvidia continues to remain strong and underpins the vast majority of AI applications today.

Global chip giant Nvidia has hit a major milestone. According to the MSCI All Country World Index, the US-based company has overtaken Japan, one of the world's largest economies in the world, as far as market weight is concerned. 

Global chip giant Nvidia has hit a major milestone. According to the MSCI All Country World Index, the US-based company has overtaken Japan, one of the world's largest economies in the world, as far as market weight is concerned. According to The Kobeissi Letter, Nvidia now represents 5.04 per cent of the MSCI All Country World Index. The index captures 85 per cent of global equity markets, including large and mid-cap stocks. The company's weight has now surpassed Japan's share, which is the world's third-largest stock market. Japan's share weight is 4.78 per cent. China, the UK, and Canada account for 3.33 per cent, 3.23 per cent, and 2.92 per cent. The company's contribution to the index is larger than the combined contribution of both France and Germany. The company used to weigh 3 per cent on the index in 2023. However, with the advent of artificial intelligence and NVIDIA's promise of providing chips to spearhead the AI revolution, the company's weight increased to 5 per cent. Why has Nvidia become a leading player Nvidia is the world leader in developing high-performance chips that power artificial intelligence adoption. The company has been posting record revenues from AI infrastructure. Nvidia used to make graphics cards that drove graphics-intensive tasks, including games, on computers and laptops. These are processors that are now key to building the technology behind ChatGPT. Nvidia designs these chips and also offers an entire infrastructure capable of making them work together. Nvidia's market share in this key sector is 80 per cent. America's AMD is the distant second competitor. AMD makes CPUs for personal and business computers. Several cloud provider companies have been working on their own chips to reduce dependence on Nvidia, including Google and Amazon. In China, Huawei ranks among Nvidia's most credible competitors. However, Nvidia continues to remain strong and underpins the vast majority of AI applications today.

Nvidia shares weight in MSCI All Country World Index: The company's contribution to the index is larger than the combined contribution of both France and Germany.

Nvidia represents 5.04 per cent of the key equity index, surpassing Japan: Report

Isn't it ironic that MrBeast – the man who inspires many youth to become YouTubers through his success story as the most-subscribed channel– worries that artificial intelligence flooding the American video-sharing platform could kill small creators? What many don’t tell you is that 94 per cent of YouTube channels are never monetised. The hype around the so-called "creator economy" is almost essential for platforms like YouTube, which survive and thrive on other people’s content, running billions of dollars’ worth of ads on videos made by small creators – while giving many of them nothing in return. Here’s why MrBeast’s recent statement should be a cautionary tale for anyone hoping to make money on YouTube.<h2>What did MrBeast say?</h2>MrBeast, real name Jimmy Donaldson, is currently the most-subscribed YouTuber in the world. In a recent X post, he said: "When AI videos are just as good as normal videos, I wonder what that will do to YouTube and how it will impact the millions of creators currently making content for a living… scary times."His post, viewed more than 6.3 million times, came as new tools like OpenAI’s Sora 2 are now capable of generating cinematic-quality video from simple text prompts.Also read: <a href="https://www.wionews.com/world/google-admits-to-censorship-under-biden-administration-agrees-to-restore-banned-youtube-accounts-1758794113113">'Unacceptable and wrong': Google admits to censorship under Biden administration, agrees to restore banned YouTube accounts</a>&nbsp;MrBeast’s concern is also partially hypocritical. Earlier this year, he faced backlash for launching an AI-powered thumbnail generator via his analytics platform, Viewstats. After creators criticised the move for displacing human artists, MrBeast pulled the tool and instead added a directory for hiring real thumbnail designers. In a follow-up, he stated: “I care more than any of you could ever imagine about the YouTube community… I missed the mark.”Also read: <a href="https://www.wionews.com/business-economy/youtube-premium-lite-which-services-you-will-receive-for-rs-89-per-month-1759141360174">YouTube Premium Lite: Which services you will receive&nbsp;for Rs 89 per month?</a><h2>The sad reality of the creator economy on YouTube: You've been warned</h2>YouTube’s creator economy is already deeply unequal. AI-generated video – heavily promoted by YouTube’s parent companies Google and Alphabet – has added another layer of disruption. Mass-produced, algorithm-friendly videos (sometimes derided as “AI slop”) are increasingly crowding the platform, making it harder than ever for small creators to gain visibility, let alone earn money.Many of these videos are now being produced by Google-backed systems like Veo and NanoBanana, which can churn out synthetic content at scale. This arms race in content production is eroding the space that was once available to human creators.<a href="https://www.wionews.com/videos/youtube-updates-monetization-rules-ai-made-content-may-lose-ad-revenue-1752689638111/embed">https://www.wionews.com/videos/youtube-updates-monetization-rules-ai-made-content-may-lose-ad-revenue-1752689638111/embed</a>Gone are the days when amateur-looking videos filmed on smartphones could reliably generate income. Video production – from hardware to editing software – has become so sophisticated that many uploads now rival Netflix-quality. Smaller creators are left scrambling to keep up, while AI-generated shorts and clickbait content rack up millions of views with minimal effort or cost.Also read: <a href="https://www.wionews.com/entertainment/tanmay-bhatt-reacts-as-he-is-named-the-richest-youtuber-in-india-beats-bhuvam-bam-dhruv-rathee-samay-raina-1759807613878">Tanmay Bhat reacts as he is named the richest YouTuber in India, beats Bhuvam Bam, Dhruv Rathee, Samay Raina</a><h2>How many channels are really monetised on YouTube? Only 6 per cent</h2>As of March 2025, YouTube had an estimated 114 million active channels. Only around 6 per cent of these are accepted into the YouTube Partner Programme (YPP), which allows monetisation. That leaves 94 per cent – over 100 million channels – unmonetised, either because they fail to meet eligibility thresholds or are inactive.Given MrBeast’s position at the top of the platform (No. 1 on Forbes’ 2025 Top Creators list, with $85 million in earnings), his warnings carry weight. They reflect a broader anxiety: that the future of YouTube – and content creation more generally – may belong not to passionate individuals, but to cheap, fast, AI-generated noise.

Gone are the days when amateurish videos could be monetised on YouTube. Production hardware and software are so sophisticated that many uploads can now rival Netflix-quality. Smaller creators, already left scrambling, have now been hit harder by AI slop. Is the 'creative economy a sham?

Isn't it ironic that MrBeast – the man who inspires many youth to become YouTubers through his success story as the most-subscribed channel– worries that artificial intelligence flooding the American video-sharing platform could kill small creators? What many don’t tell you is that 94 per cent of YouTube channels are never monetised. The hype around the so-called "creator economy" is almost essential for platforms like YouTube, which survive and thrive on other people’s content, running billions of dollars’ worth of ads on videos made by small creators – while giving many of them nothing in return. Here’s why MrBeast’s recent statement should be a cautionary tale for anyone hoping to make money on YouTube. What did MrBeast say? MrBeast, real name Jimmy Donaldson, is currently the most-subscribed YouTuber in the world. In a recent X post, he said: "When AI videos are just as good as normal videos, I wonder what that will do to YouTube and how it will impact the millions of creators currently making content for a living… scary times." His post, viewed more than 6.3 million times, came as new tools like OpenAI’s Sora 2 are now capable of generating cinematic-quality video from simple text prompts. Also read: 'Unacceptable and wrong': Google admits to censorship under Biden administration, agrees to restore banned YouTube accounts MrBeast’s concern is also partially hypocritical. Earlier this year, he faced backlash for launching an AI-powered thumbnail generator via his analytics platform, Viewstats. After creators criticised the move for displacing human artists, MrBeast pulled the tool and instead added a directory for hiring real thumbnail designers. In a follow-up, he stated: “I care more than any of you could ever imagine about the YouTube community… I missed the mark.” Also read: YouTube Premium Lite: Which services you will receive for Rs 89 per month? The sad reality of the creator economy on YouTube: You've been warned YouTube’s creator economy is already deeply unequal. AI-generated video – heavily promoted by YouTube’s parent companies Google and Alphabet – has added another layer of disruption. Mass-produced, algorithm-friendly videos (sometimes derided as “AI slop”) are increasingly crowding the platform, making it harder than ever for small creators to gain visibility, let alone earn money. Many of these videos are now being produced by Google-backed systems like Veo and NanoBanana, which can churn out synthetic content at scale. This arms race in content production is eroding the space that was once available to human creators. https://www.wionews.com/videos/youtube-updates-monetization-rules-ai-made-content-may-lose-ad-revenue-1752689638111/embed Gone are the days when amateur-looking videos filmed on smartphones could reliably generate income. Video production – from hardware to editing software – has become so sophisticated that many uploads now rival Netflix-quality. Smaller creators are left scrambling to keep up, while AI-generated shorts and clickbait content rack up millions of views with minimal effort or cost. Also read: Tanmay Bhat reacts as he is named the richest YouTuber in India, beats Bhuvam Bam, Dhruv Rathee, Samay Raina How many channels are really monetised on YouTube? Only 6 per cent As of March 2025, YouTube had an estimated 114 million active channels. Only around 6 per cent of these are accepted into the YouTube Partner Programme (YPP), which allows monetisation. That leaves 94 per cent – over 100 million channels – unmonetised, either because they fail to meet eligibility thresholds or are inactive. Given MrBeast’s position at the top of the platform (No. 1 on Forbes’ 2025 Top Creators list, with $85 million in earnings), his warnings carry weight. They reflect a broader anxiety: that the future of YouTube – and content creation more generally – may belong not to passionate individuals, but to cheap, fast, AI-generated noise.

Gone are the days when amateurish videos could be monetised on YouTube. Production hardware and software are so sophisticated that many uploads can now rival Netflix-quality. Smaller creators, already left scrambling, have now been hit harder by AI slop. Is the 'creative economy a sham?

Creator economy sham: MrBeast feels AI slop will kill small creators on YouTube. Truth is, 94 per cent of channels are not monetised

Gold prices are subject to market fluctuation; any discrepancies in the prices of Gold are due to the difference between the time of reporting and the time of consumption. As of October 7, 2025, the top 10 nations with the lowest price of a gram of gold in INR are as follows.

Gold prices are subject to market fluctuation; any discrepancies in the prices of Gold are due to the difference between the time of reporting and the time of consumption. As of October 7, 2025, the top 10 nations with the lowest price of a gram of gold in INR are as follows.

Global gold prices- Top 10 countries with lowest gold price

Alexandr Wang, a 28-year-old billionaire, has made headlines for his advice to teenagers on how to get ahead amid the current job climate. He said they should master artificial coding tools to become relevant. He remarked earlier this month that people should immerse themselves in what he called vibe coding. He also said that they should dedicate 10,000 hours to learning and practising AI tools and give themselves an advantage over others.&nbsp;By using vibe-coding, non-technical users can build applications and websites by instructing AI in English. "I think that fundamentally, the role of an engineer is very different now than it was before," he added.&nbsp;Alexandr Wang is Meta's chief AI officer.<h2>Who is Alexandr Wang?</h2>Alexandr Wang is the chief operating officer (CEO) of Scale AI. He cofounded&nbsp;the startup in 2016. His original idea was to help companies place raw data to work for artificial intelligence and machine learning.&nbsp;His company is based in California. The firm helps around its 300 clients, including giants like General Motors and Flexport. The company has helped the firms on projects like autonomous driving and supply chain efficiency.&nbsp;He is the world's youngest self-made billionaire. He owns 14 per cent of Scale.&nbsp;Before founding his company, he started working full-time in Silicon Valley at the age of 17 with fintech Addepar. He also worked for Quora, the world's leading question-and-answer site.&nbsp;Aged 19, he dropped out of MIT's machine learning programme. He later attended the Y Combinator accelerator and launched Scale.&nbsp;He is a native of New Mexico's Los Alamos, where the United States developed its first nuclear bomb during World War 2. He is the son of physicists.&nbsp;His net worth is $3.2 billion, according to Forbes.

Alexandr Wang, a 28-year-old billionaire, has made headlines for his advice to teenagers on how to get ahead amid the current job climate.

Alexandr Wang, a 28-year-old billionaire, has made headlines for his advice to teenagers on how to get ahead amid the current job climate. He said they should master artificial coding tools to become relevant. He remarked earlier this month that people should immerse themselves in what he called vibe coding. He also said that they should dedicate 10,000 hours to learning and practising AI tools and give themselves an advantage over others. By using vibe-coding, non-technical users can build applications and websites by instructing AI in English. "I think that fundamentally, the role of an engineer is very different now than it was before," he added. Alexandr Wang is Meta's chief AI officer. Who is Alexandr Wang? Alexandr Wang is the chief operating officer (CEO) of Scale AI. He cofounded the startup in 2016. His original idea was to help companies place raw data to work for artificial intelligence and machine learning. His company is based in California. The firm helps around its 300 clients, including giants like General Motors and Flexport. The company has helped the firms on projects like autonomous driving and supply chain efficiency. He is the world's youngest self-made billionaire. He owns 14 per cent of Scale. Before founding his company, he started working full-time in Silicon Valley at the age of 17 with fintech Addepar. He also worked for Quora, the world's leading question-and-answer site. Aged 19, he dropped out of MIT's machine learning programme. He later attended the Y Combinator accelerator and launched Scale. He is a native of New Mexico's Los Alamos, where the United States developed its first nuclear bomb during World War 2. He is the son of physicists. His net worth is $3.2 billion, according to Forbes.

Who is Alexandr Wang? Alexandr Wang is the chief operating officer (CEO) of Scale AI. He cofounded&nbsp;the startup in 2016.

Who is Alexandr Wang, AI pioneer, world's youngest self-made billionaire?

Union Minister of Commerce and Industry Piyush Goyal said in a roundtable during his visit to Doha that India will soon launch its digital currency, which will be backed by the Reserve Bank of India (RBI). The move will make transactions faster and more transparent, and will reduce reliance on paper currency in the economy.&nbsp;"India has also announced that we'll be coming out with a digital currency which will be backed by the Reserve Bank of India guarantee, like normal currency," he said.<h2>What Piyush Goyal said about digital currency</h2>Piyush Goyal confirmed the digital currency with "stablecoins" in the United States.&nbsp;Listing the benefits of the digital currency, he said, "It will only make it easier to transact. It will also reduce the paper consumption and will be faster to transact than the banking system".&nbsp;He said digital transactions will be tracked through the system, improving transparency. The system will use the blockchain technology.&nbsp;He said the government hasn't been encouraging the use of cryptocurrency because assets do not back them.&nbsp;"We have not been encouraging cryptocurrency, which does not have sovereign backing or which is not backed by assets," he said.&nbsp;He explained that privately issued cryptocurrencies, like Bitcoin, operate without any official guarantee. "There's no backend guaranteeing any value," he said.&nbsp;He said those who invest in cryptocurrencies do it at their own risk and cost, and the government doesn't encourage or discourage it.&nbsp;&nbsp;Digital currency, however, will be backed by the RBI. It will be paper money converted into digital money. He said it will maintain the integrity of the financial system.

Union Minister of Commerce and Industry Piyush Goyal said in a roundtable during his visit to Doha that India will soon launch its digital currency, which will be backed by the Reserve Bank of India (RBI).

Union Minister of Commerce and Industry Piyush Goyal said in a roundtable during his visit to Doha that India will soon launch its digital currency, which will be backed by the Reserve Bank of India (RBI). The move will make transactions faster and more transparent, and will reduce reliance on paper currency in the economy. "India has also announced that we'll be coming out with a digital currency which will be backed by the Reserve Bank of India guarantee, like normal currency," he said. What Piyush Goyal said about digital currency Piyush Goyal confirmed the digital currency with "stablecoins" in the United States. Listing the benefits of the digital currency, he said, "It will only make it easier to transact. It will also reduce the paper consumption and will be faster to transact than the banking system". He said digital transactions will be tracked through the system, improving transparency. The system will use the blockchain technology. He said the government hasn't been encouraging the use of cryptocurrency because assets do not back them. "We have not been encouraging cryptocurrency, which does not have sovereign backing or which is not backed by assets," he said. He explained that privately issued cryptocurrencies, like Bitcoin, operate without any official guarantee. "There's no backend guaranteeing any value," he said. He said those who invest in cryptocurrencies do it at their own risk and cost, and the government doesn't encourage or discourage it. Digital currency, however, will be backed by the RBI. It will be paper money converted into digital money. He said it will maintain the integrity of the financial system.

Digital Currency 2025: He said digital transactions will be tracked through the system, improving transparency. The system will use blockchain technology.

'Traditional money in electronic form': What Piyush Goyal said about RBI's digital currency

Chipmaker AMD said on Monday that it will supply artificial intelligence chips to Sam Altman-led OpenAI. The deal could potentially give the ChatGPT creator the option to buy up to roughly 10% of AMD. This deal has sent out a message that OpenAI, a pioneer&nbsp;in consumer-facing artificial&nbsp;intelligence, has confidence in the chips developed by Advanced Micro Devices (AMD).&nbsp;AMD executive vice president Forrest Norrod told Reuters that this deal was&nbsp;certainly transformative for the entire industry. After the announcement, AMD's shares witnessed a massive jump of 25 per cent in premarket trading.&nbsp;Per the deal,&nbsp;OpenAI will build a one-gigawatt facility based on its forthcoming MI450 series of chips beginning next year.&nbsp;AMD expects that it will earn revenue in to tune of $100 billion over the next four years from OpenAI and others.&nbsp;"Other people are going to come along with it because this is really the pioneer, a pioneer in the industry that has a lot of influence over the broader ecosystem," AMD strategy chief Mat Hein told Reuters.&nbsp;AMD will help OpenAI build AI infrastructure.<h2>What's the AMD-OpenAI shares deal?</h2>AMD has issued a warrant that gives OpenAI the ability to buy up to 160 million shares of the company over the course of the deal. These shares will be sold in tranches based on milestones that the two companies intend to achieve.&nbsp;The first tranche of the shares will be vested in OpenAI during the second half of 2026, after the initial shipment of MI450 chips. AMD is valued at a whopping $267.23 billion. OpenAI has a valuation of $500 billion.&nbsp;OpenAI has taken numerous steps to ensure the supply of chips in consonance with the company's AI-visioned future. In September, Nvidia announced an investment of up to $100 billion.&nbsp;The company is also attempting to design its own AI chips with which it has partnered with Broadcom.

AMD-OpenAI deal: After the announcement of the deal, AMD's shares witnessed a massive jump of 25 per cent in premarket trading.

Chipmaker AMD said on Monday that it will supply artificial intelligence chips to Sam Altman-led OpenAI. The deal could potentially give the ChatGPT creator the option to buy up to roughly 10% of AMD. This deal has sent out a message that OpenAI, a pioneer in consumer-facing artificial intelligence, has confidence in the chips developed by Advanced Micro Devices (AMD). AMD executive vice president Forrest Norrod told Reuters that this deal was certainly transformative for the entire industry. After the announcement, AMD's shares witnessed a massive jump of 25 per cent in premarket trading. Per the deal, OpenAI will build a one-gigawatt facility based on its forthcoming MI450 series of chips beginning next year. AMD expects that it will earn revenue in to tune of $100 billion over the next four years from OpenAI and others. "Other people are going to come along with it because this is really the pioneer, a pioneer in the industry that has a lot of influence over the broader ecosystem," AMD strategy chief Mat Hein told Reuters. AMD will help OpenAI build AI infrastructure. What's the AMD-OpenAI shares deal? AMD has issued a warrant that gives OpenAI the ability to buy up to 160 million shares of the company over the course of the deal. These shares will be sold in tranches based on milestones that the two companies intend to achieve. The first tranche of the shares will be vested in OpenAI during the second half of 2026, after the initial shipment of MI450 chips. AMD is valued at a whopping $267.23 billion. OpenAI has a valuation of $500 billion. OpenAI has taken numerous steps to ensure the supply of chips in consonance with the company's AI-visioned future. In September, Nvidia announced an investment of up to $100 billion. The company is also attempting to design its own AI chips with which it has partnered with Broadcom.

AMD-OpenAI deal: After the announcement of the deal, AMD's shares witnessed a massive jump of 25 per cent in premarket trading.

AMD gives OpenAI option to acquire 10 per cent stake in multi-year deal

The central government has launched an investigation into allegations that e-commerce platforms have been charging their customers extra for making payments through the cash-on-delivery option. The action was taken after the government received complaints that the alleged extra charges misled buyers and violated consumer rights.<h2>Here's what happened</h2>On Friday, Pralhad Joshi, the consumer affairs minister, wrote on X that the Department of Consumer Affairs has initiated an investigation. He called such charges a "dark pattern".&nbsp;He wrote on X that strict action will be taken against those engaged in such activities. He shared a screenshot of a user's order who was charged an "offer handling fee" of Rs 99, a "payment handling fee" of Rs 49, and a "protect promise fee" of Rs 79.&nbsp;"The Department of Consumer Affairs has received complaints against e-commerce platforms charging extra for Cash-on-Delivery, a practice classified as a dark pattern that misleads and exploits consumers. A detailed investigation has been initiated and steps are being taken to scrutinize these platforms closely. Strict action will be taken against those violating consumer rights to ensure transparency and uphold fair practices in India’s growing e-commerce sector," he said in the post.<h2>What are dark patterns?</h2>Dark patterns are deceptive tactics used by e-commerce, food delivery, and quick commerce platforms to trick users into buying their goods and services. Employing these tactics, some of these players even make it difficult for users to unsubscribe from memberships.&nbsp;Ahead of the festive season, when people tend to make more discretionary spending, many of these platforms raised platform fees.&nbsp;In June, the Central Consumer Protection Authority had ordered e-commerce platforms to eliminate dark patterns within three months after carrying out self-imposed audits.&nbsp;The government has been taking several steps to boost domestic consumption. Last month, it eliminated the 12 per cent and 28 per cent GST slabs and moved these items to lower tax slabs.&nbsp;The government has asked companies to pass on the benefits of the GST cuts. It is monitoring whether these companies have passed on GST benefits or not.

The central government has launched an investigation into allegations that e-commerce platforms have been charging their customers extra for making payments through the cash-on-delivery option. The action was taken after the government received complaints that the alleged extra charges misled buyers and violated consumer rights. Here's what happened On Friday, Pralhad Joshi, the consumer affairs minister, wrote on X that the Department of Consumer Affairs has initiated an investigation. He called such charges a "dark pattern". He wrote on X that strict action will be taken against those engaged in such activities. He shared a screenshot of a user's order who was charged an "offer handling fee" of Rs 99, a "payment handling fee" of Rs 49, and a "protect promise fee" of Rs 79. "The Department of Consumer Affairs has received complaints against e-commerce platforms charging extra for Cash-on-Delivery, a practice classified as a dark pattern that misleads and exploits consumers. A detailed investigation has been initiated and steps are being taken to scrutinize these platforms closely. Strict action will be taken against those violating consumer rights to ensure transparency and uphold fair practices in India’s growing e-commerce sector," he said in the post. What are dark patterns? Dark patterns are deceptive tactics used by e-commerce, food delivery, and quick commerce platforms to trick users into buying their goods and services. Employing these tactics, some of these players even make it difficult for users to unsubscribe from memberships. Ahead of the festive season, when people tend to make more discretionary spending, many of these platforms raised platform fees. In June, the Central Consumer Protection Authority had ordered e-commerce platforms to eliminate dark patterns within three months after carrying out self-imposed audits. The government has been taking several steps to boost domestic consumption. Last month, it eliminated the 12 per cent and 28 per cent GST slabs and moved these items to lower tax slabs. The government has asked companies to pass on the benefits of the GST cuts. It is monitoring whether these companies have passed on GST benefits or not.

Cash-on-delivery row: In June, the Central Consumer Protection Authority had ordered e-commerce platforms to eliminate dark patterns within three months after carrying out self-imposed audits.&nbsp;

'Offer handling fee': Why is government probing e-commerce platforms' cash-on-delivery?