Monday's news, 21 September.
The Tata Sons fight moved from the boardroom towards the courts, with Harish Salve advising N Chandrasekaran's side and Tata Trusts bringing in its own senior counsel to argue that a casting vote cannot override the Articles of Association. Markets had their own big day: the NSE IPO closed nearly four times subscribed as India's second-largest public issue, Moneyview set a price band ahead of a 24 September open, and ADIA sold ₹2,390 crore of Lenskart stock. In AI, AMD crossed a trillion dollars in market value, Google opened pre-orders for a Gemini-built laptop line, SoftBank launched over $10 billion of bonds to fund its OpenAI bet, and Jensen Huang called extinction warnings doomsday narratives even as US and Chinese officials set another AI safety meeting. India kept pulling in operations, with Starbucks picking Chennai for its first GCC, Microsoft opening a fourth cloud region in Hyderabad and Nothing spinning CMF out as an Indian company. Elsewhere, Paramount settled with a dozen states to clear its $110 billion Warner Bros Discovery deal, the Delhi High Court told SAP to switch Nayara Energy's software back on, and Maharashtra's FDA suspended licences at ten Mumbai food sites including a quick-commerce dark store.
These are the stories the quiz is written from, so reading on answers it.
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Boardroom to Courtroom: Tata Sons-Trusts battle appears headed for courts as Salve, Singhvi take opposing sides
The Tata Trusts have formally challenged N Chandrasekaran's reappointment as Tata Sons chairman, saying the board resolution failed a mandatory condition in the Articles of Association after one of the two Trust-nominated directors voted against it. Senior advocates Harish Salve and Abhishek Manu Singhvi are now on opposite sides, and Salve has said the real flashpoint is the listing question rather than the reappointment.
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These are the first five Googlebook laptops
Google unveiled Googlebooks, AI-native laptops that blend Android and ChromeOS and integrate closely with Android phones. The first five models come from Acer, Asus, Dell, HP and Lenovo, start at $899 and ship on 4 October, with battery life claimed at up to 14 hours.
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NSE IPO receives nearly four times subscription so far on final day
The National Stock Exchange's IPO was subscribed close to four times on its final day. It ranks as India's second-largest public issue, ahead of LIC's ₹21,000 crore offer in 2022 and behind Hyundai Motor India's ₹27,870 crore listing in 2024.
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AMD becomes latest chipmaker to reach $1 trillion valuation on AI demand
AMD's market capitalisation crossed $1 trillion on Monday, a first for the company. The move reflects investor expectations that AMD will take a bigger role in AI compute alongside the handful of chipmakers already at that scale.
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‘CMF becomes Indian’: Carl Pei announces Nothing’s India spin-off with local R&D and global ambitions
Nothing is spinning off CMF as a separate, majority Indian-owned business with local R&D, as it looks to build on India's electronics manufacturing push. Nothing retains a shareholding and will continue providing engineering, software and global brand support as CMF widens its device range.
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Paramount settles with US states to clear $110bn Warner Bros Discovery deal, says report—Check conditions, penalties
Paramount has settled with a dozen US states, led by California, that had gone to court to stop its $110 billion acquisition of Warner Bros Discovery. The settlement removes a major antitrust obstacle to what would be Hollywood's largest ever merger, and both stocks jumped on the news.
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Starbucks to set up its first India GCC in Chennai
Starbucks will open its first India global capability centre in Chennai, hiring 800 technology professionals in what the state calls high-paying roles. The company has signed a memorandum of understanding with the Tamil Nadu government for the centre.
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Nvidia boss rejects AI extinction fears as 'doomsday narratives'
Nvidia's Jensen Huang dismissed claims that AI poses an extinction risk, describing them as doomsday narratives. The remarks land in the middle of a running argument among researchers and executives over how fast AI development should proceed.
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ADIA Sells Lenskart Shares Worth ₹2,390.6 Cr
ADIA, an early investor in Lenskart, sold 3.5 crore shares worth ₹2,390.6 crore. The sale came during a bull run in the eyewear company's stock.
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US, China to hold more AI safety meetings in two months in Shenzhen, Scott Bessent says
Senior US and Chinese officials met in New York ahead of a Trump-Xi summit and agreed to meet again in Shenzhen in about two months to discuss AI risks and communication protocols. Scott Bessent said the two sides also discussed a formal AI dialogue mechanism and a notification mechanism for AI incidents with national security implications.
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Govt asks Microsoft to set up data centres closer to power generation sites
Microsoft opened its fourth India cloud region in Hyderabad under its $20.5 billion investment commitment to India's digital and AI infrastructure. The government used the launch to push data centre operators to build near power generation sites, while Microsoft said the region uses effectively no water for cooling.
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Softbank Group launches over $10 billion in bonds for OpenAI investment, term sheet shows
SoftBank has launched a bond sale of over $10 billion, aiming to raise $10 billion in dollar notes and 1 billion euros, to fund investments led by OpenAI. It follows a string of loans by Masayoshi Son's group as it takes on a central role in financing AI.
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Delhi High Court directs SAP to restore software services to Nayara Energy
The Delhi High Court directed SAP to switch software services back on for Nayara Energy after the German firm suspended them, pointing to EU sanctions tied to the refiner's Russian ownership. The court allowed Nayara's plea for interim relief.
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Moneyview Sets ₹32-₹34 Price Band For ₹1,092 Cr IPO
Digital lending platform Moneyview priced its IPO at ₹32-34 per share for a ₹1,092 crore issue opening 24 September. Ahead of the listing it posted a 158.8% jump in quarterly consolidated profit to ₹173.8 crore, with shares set to list on 1 October.
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Swiggy Instamart Unit, Amazon Warehouse Operator Among 10 In Mumbai To Lose Licence In FDA Crackdown
The Maharashtra FDA suspended licences at ten Mumbai food establishments, including a Swiggy Instamart dark store and an Amazon-run warehouse, after inspections found serious hygiene and food-safety breaches. The drive is part of a festive-season crackdown in which food products worth ₹1.36 crore were seized.
