Friday's news, 18 September.
The day's loudest story was inside Tata Sons, where the chairman's casting vote handed N Chandrasekaran a third term over Noel Tata's objection, with Shapoorji Pallonji pushing a listing and Air India's incoming CEO weighing a merger of Air India Express to stem a $2.3 billion loss. In Delhi, SEMICON India 2026 gave India its second chip headline of the week with $12 billion in commitments across materials, gases and packaging, while money news ran from HealthKart's $300-400 million IPO plan and Kissht's ₹832 crore preferential issue to a ₹1,000 crore deeptech fund from Asiana and Taiwan's JC Capital. Payments was the other India thread, with PhonePe, Paytm and MobiKwik backing MDR on UPI transactions above ₹2,000 and Apple Pay reported to be arriving next month with Axis Bank. Globally, AI kept setting the agenda: researchers used Anthropic's Claude to break into OpenAI employee accounts, California ordered a kill switch for new models, Crusoe raised $3.9 billion for data centres and SoftBank added $21 billion of debt against Arm. Rates and regulators filled the rest, from Japan's hike to a 31-year high and India's forex reserves slipping to $780.8 billion, to FSSAI's legal action against Nestle India over two infant formula brands and Warren Buffett handing the Berkshire chair to his son Howard.
These are the stories the quiz is written from, so reading on answers it.
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Tata Sons board-room battle: Stalemate broken by chairman's casting vote
The Tata Sons board backed N Chandrasekaran for a third term as executive chairman after the chairman's casting vote broke a stalemate between the two nominees on the board. Noel Tata objected, describing the vote as a legal nullity, and Tata Trusts want alternatives to a listing to comply with RBI's upper-layer NBFC norms.
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Warren Buffett steps down as Berkshire Hathaway chairman, son Howard to succeed
Warren Buffett stepped down as chairman of Berkshire Hathaway, a post he held for more than 50 years, and will be chairman emeritus. His son Howard G Buffett, a board member since 1993, succeeds him.
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Semicon 2.0 has drawn about $12B in investment commitments: IT minister Vaishnaw
At SEMICON India 2026, IT minister Ashwini Vaishnaw said India has drawn roughly $12 billion in investment commitments under the second phase of its semiconductor mission. The commitments cover equipment, materials, gases and chemicals as well as assembly, testing and packaging units, substrates and wafers.
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Researchers used Anthropic’s Claude to hack into OpenAI
Security researchers at Hacktron said they used Anthropic's Claude Opus 4.8 and 5 to take over OpenAI employee accounts in less than 72 hours and access an internal GitHub repository named Monorepo. The flaws were reported to OpenAI, according to a Wall Street Journal account.
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Anil Ambani denies 'any wrongdoing' after CBI lodges FIR over ₹2,684-cr LIC investment 'fraud'
The CBI registered an FIR over an alleged fraud relating to a ₹2,684 crore LIC investment. Anil Ambani's spokesperson said he denies any wrongdoing and reserves all legal rights.
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Japan raises interest rate to new 31-year high to curb rising prices
Japan raised its benchmark interest rate to a new 31-year high in an effort to curb inflation. The move follows a broader round of rate increases by central banks reacting to high energy prices.
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Air India new CEO weighs Express merger to cut costs after $2.3-billion loss
Air India CEO-designate Tewolde Gebremariam is weighing a merger of Air India Express into the parent group to trim costs after a $2.3 billion loss. He says one airline group would reduce regulatory requirements and avoid duplicate staffing.
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Crusoe raises $3.9B to build massive data centers and small modular ‘AI factories’
Crusoe raised $3.9 billion to fund massive data centres and small modular AI factories. The round puts the company's valuation at $30.9 billion.
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PhonePe, Paytm, MobiKwik back UPI MDR above Rs 2,000
MobiKwik, PhonePe and Paytm executives backed the plan to charge MDR on eligible UPI merchant transactions above ₹2,000. The support contrasts with objections from D2C founders, brokers and FMCG distributors who want UPI to stay zero-MDR for merchants.
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Waymo says Singapore will be its next international robotaxi city
Waymo said Singapore will be its next international robotaxi market, with a service launch planned for 2028. Vehicles arrive in the coming months, with mapping and testing under human safety drivers in 2027.
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HealthKart weighs $300-400 million IPO as nutrition market gains momentum
HealthKart is weighing an IPO of $300-400 million and has opened early talks with stakeholders and intermediaries. The offer may pair a fresh raise with secondary sales by existing backers as India's nutrition market grows.
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Reining In Silicon Valley? California Mandates 'Kill Switch' For All New AI Models
California's governor signed an executive order mandating a kill switch for all new AI models. The order is aimed at accelerating independent oversight of artificial intelligence.
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Curefoods revenue grows 23% YoY, Rebel Foods' revenue up 20%
Curefoods reported FY26 operating revenue of ₹916 crore, up 23% from ₹746 crore, while net loss grew 13% to ₹192 crore. Rebel Foods' revenue rose 20% over the same period, according to RoC filings.
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SoftBank adds $21 billion to AI firepower in new debt deals
SoftBank raised roughly $21 billion in new debt to fund AI bets, including lifting a margin loan backed by Arm Holdings stock by $5 billion to $25 billion. A separate credit line was topped up by $450 million to $6.5 billion.
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Apple Pay May Launch In India Next Month With Axis Bank Partnership: Report
Apple is preparing to launch Apple Pay in India as early as next month in partnership with Axis Bank, according to a report. The move would mark Apple's payments service entering the Indian market.
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Asiana Fund, JC Capital Launch ₹1,000 Cr Fund To Back Deeptech Startups
Asiana Fund, the investment arm of the Dani family office, and Taiwanese VC firm JC Capital launched a ₹1,000 crore fund for deeptech. It will back growth-stage companies in advanced manufacturing, semiconductors, computing, materials, aerospace and defence.
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India's Forex Reserves Drop By $4.9 Billion To $780.8 Billion: RBI Data
India's foreign exchange reserves fell by $4.9 billion to $780.8 billion, according to RBI weekly data. Gold reserves within that fell $2.591 billion to $111.225 billion.
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Kissht parent OnEMI board approves Rs 832 crore preferential issue
Kissht parent OnEMI's board approved a ₹832.2 crore raise via a preferential issue of up to 26.49 million shares at ₹314.11 apiece to 34 non-promoter investors. The deal is subject to shareholder and other statutory approvals.
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FSSAI initiates legal action against Nestle India for non-compliance
FSSAI initiated legal action against Nestle India over alleged non-compliance in promotional claims for the infant formula brands NAN Excella Pro and Lactogen Pro, plus a sample that missed Biotin norms. Nestle India said it adheres to all applicable rules in the country.
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Renault India resumes exports to Sri Lanka after a gap of 7 years
Renault India restarted exports to Sri Lanka after a seven-year break, dispatching 100 made-in-India vehicles from Chennai port through a partnership with AMW Motors. The New Duster is planned for the Sri Lankan market and the move extends Renault's export presence to 16 countries.
