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Bulls take stage as markets hope it’s curtains on war

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Bulls take stage as markets hope it's curtains on war
Mumbai: India’s equity indices rebounded on Wednesday, tracking the overnight rise on Wall Street, as hopes of a resolution of the West Asia conflict sparked a decline in oil prices.

Iranian President Masoud Pezeshkian signalled willingness to end its war with the US and Israel, while US President Donald Trump said hostilities would be over in a few weeks, sending Brent crude tumbling below $100 a barrel briefly and triggering an equity rally. Still, optimism remains fragile with investors wary of being caught off guard after being wrongfooted by shifting signals from political leaders.

The NSE Nifty climbed 1.6% or 348 points to 22,679.40. The BSE Sensex finished at 73,134.32, up 1.7% or 1,186.77 points. Both indices jumped as much as 2.8% during the day but erased some of their gains at close. Brent crude was at $102.70, down 1.2% at press time, off the day’s low of $98.35.

“The market bounce was because Iran said it was willing to stop the war, provided the US gives assurance against future attacks,” said Sunny Agrawal, head of fundamental research, SBI Securities. However, he said, differing reports by end of the day “led to Nifty paring some of its gains.”

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Screenshot 2026-04-02 055928Agencies

Breather, Not Reversal

US markets rallied 2-4% overnight on investor hope the war will come to an end sooner rather than later after Pezeshkian said Iran is open to stopping the war, albeit with guarantees.
Asian markets rose Wednesday. South Korea surged 8.4% while Japan and Taiwan gained 5.2% and 4.6%, respectively. Hong Kong rose 2% and China advanced 1.5%.
To be sure, Trump’s subsequent social media comments complicated the message, ahead of a TV address he’s scheduled to deliver at 6:30 am India time on Thursday.
The Volatility Index (VIX) dropped 10.3% to 25 as traders tempered near-term risk expectations.

“The softening risk implies some ease in the overall bearish sentiment as markets were also extremely oversold, but investors should not read much into it as it’s expected to be a breather and not a trend reversal,” said Ajit Mishra, SVP, research, Religare Broking.

Until the Nifty crosses 23,500 levels decisively, a sustained recovery is not anticipated, he said.

Most sectoral indices closed higher on Wednesday. The Nifty Media and PSU Bank indices jumped 3.7%. Nifty Metal gained 2.5% while the Bank Nifty rose 2.3%. The Nifty IT and Auto indices moved about 2% higher.

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JetBlue Airways raises checked bag fees as fuel prices soar

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JetBlue Airways raises checked bag fees as fuel prices soar

A JetBlue Airways Airbus A321 airplane departs from Los Angeles International Airport en route to New York on Oct. 17, 2025.

Kevin Carter | Getty Images

JetBlue Airways is raising bag fees at least $4 as jet fuel prices soar amid the Iran war.

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Airfare has climbed for routes around the world since the U.S. and Israel attacked Iran on Feb. 28. The higher fees for checked bags are the most recent sign of airlines passing steeper fuel costs down to U.S. consumers. Jet fuel is airlines’ biggest expense after labor.

JetBlue now lists the price to check a first piece of luggage for domestic, Caribbean and Latin America flights as $39 for off-peak periods for most economy passengers, up from $35. For peak periods, like much of the summer and major holidays, the fee will go up to $49 from $40.

If paying less than 24 hours before departure, such as at the airport, travelers will pay $10 more. Airlines have charged customers less for prepaying for their checked baggage in recent years.

There are exemptions to the bag fees entirely, however, such as travelers with a co-branded credit card and frequent flyers with elite status.

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“As we experience rising operating costs, we regularly evaluate how to manage those costs while keeping base fares competitive and continuing to invest in the experience our customers value,” JetBlue said in a statement to CNBC.

When an airline raises fees, competitors often follow. American Airlines, United Airlines, Delta Air Lines, Southwest Airlines and Frontier Airlines didn’t immediately respond to CNBC’s requests for comment.

Fuel prices for Chicago, Houston, Los Angeles and New York averaged $4.57 a gallon last Friday, up nearly 83% since the day before the war began, according to data from Argus published by industry group Airlines for America.

“Adjusting fees for optional services used by select customers, such as checked baggage, allows us to continue offering more competitive fares while delivering the onboard experience our customers love, including complimentary snacks and drinks, unlimited, high-speed Wi-Fi and seatback entertainment screens,” JetBlue said. “While we recognize that fee increases are never ideal, we take careful consideration to ensure these changes are implemented only when necessary.” 

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Thousands Report Service Disruption Across US

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Deezer

Spectrum Internet service experienced widespread disruptions Thursday, April 2, 2026, with thousands of customers across the United States reporting outages starting in the early morning hours, according to real-time tracking sites and social media complaints.

Spectrum HQ
Spectrum HQ

DownDetector, a popular outage monitoring platform, recorded a sharp spike in user reports beginning around 1:50 a.m. Eastern Time, with the majority of complaints centered on broadband internet and Wi-Fi connectivity issues. By mid-morning, the site showed hundreds of reports per hour, far exceeding typical baseline levels for the Charter Communications-owned provider.

The outage appeared to affect residential and business subscribers in multiple regions, though no single national epicenter was immediately confirmed by Spectrum. Users in states including New York, California, Texas, Florida and the Midwest flooded social media platforms and forums with complaints of complete loss of internet access, slow speeds or intermittent connections. Some reported that television and phone services remained operational in areas where bundled packages are common, suggesting the issue was isolated to the broadband network.

Spectrum, which serves more than 32 million residential customers across 41 states under the Spectrum brand, has not issued a formal public statement on the cause or expected resolution time as of early afternoon Thursday. The company’s official support pages directed users to check for outages via the My Spectrum app or website, but many customers said those tools were also unresponsive or showed no active alerts.

One user in the DesignTAXI community forum, which first highlighted the issue shortly after 5 a.m. Eastern, wrote: “Spectrum Internet is reportedly down for some subscribers right now. Are you one of them?” The post quickly gained traction as hundreds echoed similar experiences. Similar threads appeared on Reddit’s r/Spectrum and local Facebook groups, with customers sharing screenshots of error messages and router lights indicating no connection.

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The timing of the outage — occurring during peak morning hours when many remote workers and students rely on stable internet — amplified frustration. Parents reported children unable to join virtual classes, while small business owners described lost productivity and revenue. In some areas, cellular hotspots provided temporary relief, but Spectrum mobile customers in affected households often faced the same broadband-related problems.

This is not the first time Spectrum has faced significant service interruptions in 2026. Earlier in the year, the provider dealt with several notable outages linked to network maintenance, weather events and technical glitches. A January outage affected nodes in New York, Washington, D.C., and Houston, lasting over an hour and impacting downstream partners internationally. February and March saw additional regional disruptions, prompting criticism from consumer advocacy groups about reliability in an era when high-speed internet is considered essential infrastructure.

Industry analysts noted that Spectrum’s vast hybrid fiber-coaxial network, while expansive, can be vulnerable to cascading failures when core routing or backbone issues arise. Possible causes for Thursday’s event include routine overnight maintenance that encountered unexpected problems, fiber cuts, or a broader software configuration error — though without official confirmation, speculation remains rampant on tech forums.

Spectrum customers experiencing issues were advised to follow standard troubleshooting steps: power cycling modems and routers, checking cables, and testing connections on multiple devices. However, many reported that even these basic steps failed to restore service, pointing to a provider-side problem rather than individual equipment failure.

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Consumer advocates urged affected users to document the outage for potential compensation claims. Under Spectrum’s service agreement, prolonged disruptions may qualify for bill credits, though the company typically requires customers to contact support directly once service resumes. The Federal Communications Commission encourages reporting major outages, especially those affecting public safety or emergency communications, though no widespread 911 or emergency service impacts were reported Thursday.

The outage highlights broader concerns about internet reliability in the United States, where millions depend on a handful of large providers. Spectrum, as the second-largest cable internet provider behind Comcast’s Xfinity, has faced repeated scrutiny over service quality, pricing and customer service response times. Consumer Reports and other watchdogs have consistently ranked Spectrum lower in satisfaction surveys compared with fiber-based competitors like Verizon Fios or Google Fiber.

In response to similar past incidents, Spectrum has emphasized investments in network upgrades, including the rollout of DOCSIS 4.0 technology for multi-gigabit speeds in select markets. Company executives have touted these improvements as part of a broader modernization effort, yet recurring outages continue to frustrate subscribers.

As of midday Thursday, DownDetector’s heatmap showed concentrated reports in major metropolitan areas, though rural and suburban customers also reported problems. Some users noted partial restoration in certain neighborhoods, suggesting the issue might be resolving in waves as technicians address localized problems.

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Spectrum’s automated support chat and phone lines were reportedly overwhelmed, with long wait times or generic outage messages. The company’s official X (formerly Twitter) account had not posted an update on the situation by early afternoon, though it frequently directs users to the My Spectrum app for real-time status.

For families and remote workers, the disruption served as a stark reminder of digital dependence. One New York resident told local media that the outage forced her to drive to a coffee shop with public Wi-Fi to complete work deadlines. In Florida, retirees described frustration over lost streaming access during morning routines.

Telehealth providers and online educators advised users to switch to mobile data or alternative networks when possible. Schools in affected districts activated contingency plans, including paper-based assignments or delayed virtual sessions.

The event also sparked renewed calls from lawmakers for stronger oversight of broadband providers. Some consumer groups renewed pushes for stricter service-level agreements and automatic credits during outages lasting more than a few hours.

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As investigations continue, Spectrum customers are encouraged to monitor the company’s official channels and third-party trackers like DownDetector for updates. Restoration timelines remain unclear, but historical patterns suggest many outages of this scale are resolved within several hours to a full day.

In the meantime, affected users can explore workarounds such as using public Wi-Fi hotspots, mobile hotspots from other carriers, or wired Ethernet connections where available. Spectrum has previously offered goodwill credits following major disruptions, and customers should retain records of the outage duration and impact.

This latest incident underscores the fragility of even major internet providers in an increasingly connected world. While Spectrum continues to expand its fiber and advanced cable infrastructure, events like Thursday’s outage remind subscribers of the need for backup connectivity options and realistic expectations around uptime.

Spectrum, formerly known as Charter Spectrum after the 2016 merger, operates one of the largest cable networks in the country. Its services include high-speed internet, cable television and home phone, often bundled for residential and small business users. The company has faced class-action lawsuits and regulatory scrutiny in the past over billing practices and service reliability.

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As the day progressed, some users began reporting gradual restoration, while others continued to experience full outages. The situation remains fluid, with no official root cause or estimated full resolution time released by Spectrum executives.

For the latest developments, customers should check Spectrum’s outage map, the My Spectrum app or trusted third-party monitors. Authorities have not indicated any connection to broader cybersecurity threats or natural disasters, suggesting a technical network issue.

The outage serves as a timely reminder for all internet users to maintain backup communication plans, especially in an era when remote work, education and essential services increasingly rely on stable broadband connections.

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Thorne reaches $500M in revenue after L Catterton take private

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Thorne reaches $500M in revenue after L Catterton take private
How Thorne became one of Gen Z's favorite wellness brands

Supplement brand Thorne is on pace to reach $650 million in annual revenue this year, fueled by Gen Z and millennial shoppers who are increasingly focused on improving their health, CNBC has learned. 

The 42-year-old supplement brand, which L Catterton took private in 2023, has sustained a compound annual growth rate of over 30% since the acquisition, according to the company. Between 2022 and 2025, its revenue more than doubled from $229 million to over $500 million, according to filings and the company.

Meanwhile, the number of consumers who shop with the brand directly has grown to about 7 million, up from around 4 million at the end of 2023, fueling a 63% surge in direct-to-consumer sales, the company said.

“A lot of what we’ve done in the last few years has been streamlining and focusing and in some ways, simplifying our go-to-market, being really clear about who is our consumer that we’re serving, what are they looking for from brands as you move forward, and looking back at our heritage,” said CEO Colin Watts, the former CEO of The Vitamin Shoppe. “… Our expectation is this is going to be a billion-dollar brand over the next few years.” 

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Thorne’s growth comes as the market for vitamins, minerals and supplements balloons in the U.S. — buoyed in part by the “Make America Healthy Again” movement and by health-conscious young shoppers who are looking to optimize their health and improve things like sleep and nutrition. The vitamins, minerals and supplements market reached $125 billion in the U.S. in 2025 and is projected to grow 11% by 2027, according to data collected by consulting firm AlixPartners. 

“As the science has gotten better and as, frankly, the consumer has taken more control over their health, there’s been a shift in spending and a shift in focus towards ‘what can I do proactively to manage my health in the future?’” Watts said. 

Thorne’s Magnesium Glycinate and Ginseng Plus supplements.

Courtesy: Thorne

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The surge in interest in dietary supplements, which was a popular gifting category over the recent holiday season, has created an opportunity for major retailers like Walmart, Target and Amazon, consumer product companies like Nestlé and smaller brands like Thorne. It also reflects a broader generational shift reshaping the industry. Once dominated by older consumers focused on preventative health, today the category is increasingly driven by younger shoppers interested in performance, personalization and daily wellness routines. 

“When I started looking and working in this market 25 years ago, this was a boomer-driven market; you basically focused on servicing the boomers, that’s how you won in the market. So the reality is, today’s market is a Gen Z, millennial market,” Watts said. “One of the big Gen Z millennial trends is, they don’t think about supplementation as prevention. They think about it as performance. It’s like, ‘I want to sleep better. I want to have more energy. I want to deal with my anxiety. I want to work out better.’ These are the kinds of things that they’re very, very focused on.” 

About 60% of Thorne’s total revenue comes from shoppers under the age of 40, who are spending about 1.5 times more than their parents did on wellness, Watts said. He estimated about half of those shoppers under 40 are subscribers, despite a broader hesitation among some younger consumers to commit to recurring subscription plans. 

“One of the reasons that Gen Z hates subscriptions is because it drives them crazy — drives me crazy, frankly — to put something on a subscription and then see it cheaper somewhere else,” Watts said. “We are very disciplined about our pricing .… We don’t, you know, high, low, promote the brand. It is fairly consistent.”

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To entice shoppers to subscribe and offer a break on high pricing, Thorne offers free shipping and a 10% discount on each refill order. Subscriptions can come as often as every two weeks or as far apart as four months. When shoppers subscribe to three or more products, they can save 20%.

As the supplement industry grows, so does scrutiny surrounding ingredients, claims and manufacturing, especially among younger shoppers who often want to know how products are produced. Supplements are not regulated by the FDA for safety or effectiveness, putting pressure on brands to conduct their own testing that they can integrate into marketing campaigns. 

“We spend a lot of time trying to make sure that we can demonstrate the science, that we can demonstrate the efficacy. We’re one of the few brands, for example, that has worked with the Mayo Clinic now for over 14 years,” Watts said. “We’ve also worked with a lot of top sports teams. We’re the official supplement of the UFC. We’re working with various different tennis associations … all of this basically forces us to raise our game, because these are folks that are even more discerning than the average consumer.” 

When asked if the company has ambitions to go public again, Watts said there’s “no rush” to do so. He called an IPO one potential route, along with a potential strategic acquisition by a larger firm.

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“Like any private equity firm, I think [L] Catterton will look for the right opportunity, for the right exit, at the right time,” Watts said. “Right now, as we look at where we’re going to grow — through bricks-and-mortar retail, through international expansion, through larger expansion moving forward — there’s also a lot of strategic companies that are out there that might see a brand like Thorne as a very powerful asset within their overall portfolio.” 

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Current Security Lines at EWR Airport

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Zayed International Airport Abu Dhabi International Airport

NEWARK, N.J. — Security wait times at Newark Liberty International Airport remained short and manageable on Thursday, April 2, 2026, with most TSA checkpoints reporting waits of 1 to 4 minutes for both general and TSA PreCheck lanes, according to the airport’s official real-time data.

The New York City skyline is seen past a United Airlines aircraft during takeoff at Newark Liberty International Airport in Newark, New Jersey
IBTimes US

Newark Liberty, one of the busiest airports in the New York metropolitan area, handles millions of passengers annually and serves as a major hub for United Airlines. On a typical day, security lines can fluctuate significantly based on flight schedules, passenger volume and TSA staffing levels. As of mid-morning Thursday, however, travelers encountered unusually quick processing times across all three terminals.

According to the airport’s website, general security lines showed the following approximate waits:

  • Terminal A (all gates): 1 minute general line, no wait for TSA PreCheck.
  • Terminal B (Gates 40-49): 1-2 minutes general, 1 minute PreCheck.
  • Terminal B (Gates 51-57): 1 minute general.
  • Terminal B (Gates 60-68): 1-4 minutes general.
  • Terminal C (all gates): 2 minutes general, 2 minutes PreCheck.

These figures represent estimates and can change rapidly. Airport officials noted that posted times are approximate and advised passengers to allow extra time, especially during peak morning and evening rushes when waits can stretch to 15-45 minutes or more under normal conditions.

The relatively light lines Thursday morning likely resulted from a moderate flight schedule combined with efficient staffing. Newark has faced criticism in the past for long security delays, particularly during holiday periods or after weather disruptions, but recent data shows improvement when passenger volumes align with available resources.

Travelers with TSA PreCheck, CLEAR or Global Entry enjoyed even faster processing. In several checkpoints, PreCheck lanes reported no wait or waits under 2 minutes, highlighting the value of these expedited programs for frequent flyers.

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Newark Liberty offers multiple security checkpoints in Terminals B and C, allowing passengers to choose lines based on their gate location. Terminal A, primarily used for some international and domestic flights, typically sees lighter traffic. Walk times from security to gates are also displayed on the airport site, helping passengers gauge total time needed after clearing screening.

Airport authorities recommend arriving at least two hours before domestic flights and three hours for international departures. With current short waits, many passengers cleared security quickly and had time to relax in lounges or grab meals before boarding.

The TSA continues to emphasize the 3-1-1 rule for liquids in carry-on bags, removal of laptops and large electronics, and proper masking or health protocols if still in effect. Passengers are encouraged to download the MyTSA app for general guidance, though the official Newark Airport website provides the most accurate terminal-specific wait times.

Factors influencing wait times at EWR include the number of open lanes, TSA staffing levels, passenger volume, and the proportion of travelers with PreCheck or other expedited screening. During peak hours — typically early mornings (5-8 a.m.) and late afternoons (3-7 p.m.) — lines can build quickly even with efficient operations.

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Newark has invested in technology upgrades, including more automated screening lanes and better queue management, to reduce congestion. The airport also partners with airlines to promote TSA PreCheck enrollment, which has helped ease pressure on standard lines.

For international travelers, customs and border protection processing after arrival can add significant time, though departure security remains the primary concern for most. United Airlines, the dominant carrier at Newark, operates from Terminal C and has its own lounges for premium passengers that can provide a more comfortable pre-security experience.

Travelers facing longer-than-expected waits are advised to stay hydrated, wear comfortable shoes, and follow TSA officers’ instructions to keep lines moving. Families with young children or passengers needing assistance should request help from airport staff early.

The short waits reported Thursday contrast with occasional spikes seen in previous months, when government funding issues or high travel volumes caused delays of 20-40 minutes or more at some checkpoints. Officials have stressed that posted times may not always reflect real-time conditions due to sudden changes in passenger flow.

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Passengers can check live updates on the Newark Airport website (newarkairport.com), the MyTSA app, or third-party trackers like takeofftimer.com and airlineairport.com. These tools provide estimates based on airport data and user reports, though official airport figures remain the most authoritative.

For those connecting through Newark, short security waits are particularly beneficial, as the airport’s layout requires moving between terminals in some cases. The AirTrain monorail system connects all terminals efficiently, but travelers should factor in walking and train time after security.

Newark Liberty continues to rank among the busiest U.S. airports, with strong recovery in both domestic and international traffic post-pandemic. Its proximity to Manhattan makes it a popular choice for business and leisure travelers despite occasional congestion.

Airport management works closely with the TSA and Port Authority of New York and New Jersey to optimize operations. During busy periods, additional lanes are opened when possible, and staff are redeployed to high-traffic checkpoints.

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Travelers are reminded that security screening is a critical safety measure. While short waits are welcome, patience and compliance help maintain smooth flow and high security standards.

As of Thursday afternoon, April 2, 2026, conditions at Newark Liberty remained favorable for quick security processing. However, afternoon and evening flights could see increased volume, so passengers are urged to monitor updates and plan accordingly.

With efficient screening times reported across terminals, many travelers cleared security faster than expected, allowing more time for dining, shopping or relaxing before departure. Newark offers a variety of dining options post-security, including local favorites and national chains.

For the best experience, frequent flyers recommend enrolling in TSA PreCheck or CLEAR if eligible, arriving early during peak seasons, and packing carry-ons strategically to minimize time at the screening tables.

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Newark Liberty International Airport serves as a vital gateway to the New York region. Its security operations directly impact thousands of daily passengers, making real-time wait time information essential for smooth travel planning.

As the day progresses, conditions may evolve with changing flight schedules and passenger arrivals. Travelers should continue checking official sources for the most current data before heading to the airport.

In summary, TSA security wait times at Newark Liberty International Airport on April 2, 2026, were notably short across most checkpoints, offering a smoother experience for passengers compared with busier periods. Staying informed through official channels remains the best strategy for any airport journey.

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Why Global Oil and Gas Disruptions Have Long-Term Economic Impacts

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US House Lawmakers Ask Justice Department to Launch Antitrust Probe on OPEC, Oil Companies

Global energy markets are under pressure again. A new conflict involving the United States, Israel, and Iran has pushed oil prices close to record highs and disrupted one of the world’s most important shipping routes.

Experts warn that this is not just a short-term spike. It could reshape economies for years.

The price of Brent crude oil has surged to around $120 per barrel, reminding many people of past crises. But this time, the situation is different.

The disruption is not just about politics or trade rules—it is about physical supply being cut off.

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The Strait of Hormuz, a narrow waterway where a large share of the world’s oil passes, has seen major slowdowns in tanker traffic. This has reduced the amount of oil and gas reaching global markets.

One energy analyst explained the seriousness of the situation, saying, “This is the largest supply disruption in the history of the global oil market.” That statement captures why experts believe the economic effects could last longer than before.

Why This Crisis Is Different

In past energy shocks, like the 2022 crisis after Russia invaded Ukraine, supply chains adjusted.

Oil and gas were rerouted, and countries released reserves to calm prices. Over time, markets stabilized.

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Today’s disruption is harder to fix. The problem is not just who sells energy—it is how that energy moves. When a key route like the Strait of Hormuz is blocked or limited, there are very few alternatives.

Pipelines that bypass the area can only carry a small portion of the usual supply. Ships also face delays and risks, making transport slower and more expensive.

Even when countries release oil from emergency reserves, it does not solve everything. The oil still needs to be shipped to where it is needed. With fewer tankers available and unsafe routes, delivery becomes a challenge.

How High Energy Prices Affect Everyday Life

When oil and gas prices rise, the effects spread quickly. Businesses that rely on energy—like factories, airlines, and shipping companies—face higher costs. These costs are often passed on to consumers.

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This means higher prices for goods, plane tickets, and even food. Farmers, for example, depend on fuel and fertilizers, both tied to energy markets. When those costs go up, food prices can rise too.

At home, families feel the impact through higher electricity bills and fuel costs. Over time, people may spend less on other things because more of their money goes to energy. This slows down the overall economy.

Industries Under Pressure

Some industries are hit harder than others. Energy-heavy sectors like steel, cement, and chemicals depend on steady and affordable fuel supplies.

When prices stay high, these industries may reduce production or raise prices.

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According to Aljareeza, transportation is also affected. Airlines pay more for fuel, shipping costs increase, and public transport may become more expensive.

While people still need to travel, long-term high prices can lead to fewer trips and changes in habits.

A Chain Reaction in the Global Economy

The longer the disruption lasts, the more serious the impact becomes. Countries that rely heavily on imported energy may struggle the most. Slower production, higher costs, and reduced spending can lead to weaker economic growth.

For energy-producing countries, the situation is also risky. If they cannot export their resources due to blocked routes or damaged infrastructure, they lose income and reliability. This can affect their role in the global market.

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What Happens Next?

Markets may eventually stabilize, but not without consequences. Unlike past crises, this disruption highlights a major weakness: too much of the world’s energy passes through a few critical points.

As one expert noted, “The longer the disruption continues, the longer prices will remain high.”

This means the global economy may face a period of adjustment, with changes in energy use, trade routes, and investment.

In the long run, countries may look for new ways to secure energy—such as building alternative routes, increasing local production, or investing in renewable sources. But these solutions take time.

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Originally published on vcpost.com

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Is it time to buy IT? Fund managers suggest gradual addition by investors

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Is it time to buy IT? Fund managers suggest gradual addition by investors
Mumbai: Valuations of Indian IT stocks have fallen to their cheapest levels since July 2020 after the recent selloff, opening up an opportunity for gradual accumulation over the next two years, said fund managers.

The Nifty IT index is currently trading at a price-to-earnings multiple of 20.6 times, well below its five-year average of 29.16 and ten-year average of 24.4, making it the lowest valuation for the sector since the post-Covid period of July 2020.

“The Indian IT sector is passing through a phase of weak sentiment, slower growth expectation, valuation compression, sell-off by foreign investors and reduced index weight,” says Parth Shah, product manager and market strategist, DSP Mutual Fund.

Investors have baulked at software services companies recently amid concerns over the fallout of AI advancements on the software services sector. The eruption of the West Asia conflict in the past month shifted the spotlight from the debate over the sector’s prospects, but concerns linger in the background. In 2026, the Nifty IT index shed 2.4% compared with the Nifty’s losses of 14.5%, but over longer periods, the sector benchmark has seen sharper cuts.

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Since October 1, 2024 the Nifty IT index has lost 31.5% compared with the 13.4% dip in the Nifty. Over the last one year it, has lost 19.2%, compared with the 3.6% decline in broad Nifty 50 loss of 3.6%,


The diminished appetite for these stocks has reduced the sector’s weight in the Nifty to an all-time low of 8.85%, underscoring the extent of the risk-off mood in technology shares. The peak of the IT sector weight was 19.8% in January 2022.

Is It Time to Buy IT ? Fund Managers Suggest Gradual Addition by InvestorsAgencies

OPPORTUNITY IN SELLOFF Stock valuations down to cheapest levels since July 2020

The extreme pessimism may be flashing an opportunity for value buyers. “Though AI is a structural tailwind, the revenue model is evolving and the total addressable market (TAM) is expanding, and the deal momentum is improving,” says Manish Bhandari, CEO and Portfolio Mamager of Vallum Capital Advisors. Following the drop, the Nifty IT index offers a dividend yield of 3.5%, an earnings yield of 5%, giving investors an opportunity to take exposure to the sector, he said.

A study by DSP Mutual Fund shows that on a rolling three-year basis, Indian IT stocks have underperformed the Nasdaq by 57%.

Investors need to rush to buy these stocks, though.

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“Investors wanting to allocate to IT must use a balanced investment approach combining a lump sum allocation now and a staggered approach using SIP,” said Shah.

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No need for a rate hike unless inflation spikes: Economists

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No need for a rate hike unless inflation spikes: Economists
Mumbai: Bank economists have told the Reserve Bank of India (RBI) at a pre-policy meeting that there is no immediate need to either raise the repo rate or change the stance, provided inflation remains within the central bank’s tolerance band, multiple participants in the discussions told ET.

They also added that RBI has alternative tools to manage currency pressures and is unlikely to resort to a rate hike, unless the impact becomes visible in inflation, one economist said.

Discussions at the meeting were largely centred on the war, the risk of a pick-up in inflation, and the expectation of a global growth slowdown, another economist who attended the meeting told ET.

“Inflation forecasts by participants ranged from 3.5% to 5%, depending on where they see oil prices to average,” said an economist who participated in the discussions. “No one in the meetings suggested a rate hike or even a change in stance, as there is little clarity on how the situation in West Asia will evolve.”

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The central bank’s monetary policy committee (MPC) is scheduled to announce its first rate decision of FY27 on April 8.


The meeting with economists comes in the backdrop of the West Asia war, rising crude oil prices and inflationary pressures. Brent crude prices saw a record surge in March, rising by roughly 60-64% compared with February levels, according to Reuters, and have traded between $110 and $120 per barrel since the war broke out.

Screenshot 2026-04-02 054311Agencies

Last Resort
“To the extent the ongoing energy shock does not translate into CPI inflation breaching the target durably, we believe the RBI MPC is unlikely to resort to rate hikes,” said a Barclays report.
RBI in its February 2026 policy held a status quo on repo rate at 5.25%. The central bank has reduced the repo rate by 125 basis points since February 2025.

Calls for a status quo are also emerging amid deep uncertainty over the duration of the US-Israel war on Iran.

Economists say the impact will largely depend on how long the war lasts, making it difficult for market participants to assess the scale of the shock or frame appropriate policy responses.

“More than the current inflation print, it is the outlook on how the situation would evolve in West Asia which would determine the policy decision on rates,” ICICI Bank said in a report early March.

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“Liquidity will remain the most important variable in the interim before we have much more clarity on energy markets and thus, we should see an extended pause for now.” Retail inflation stood at 2.75% in January, while GDP in Q2FY26 climbed 8.2%. RBI in its February policy projected inflation in Q1 and Q2 of FY27 at 4% and 4.2%, while GDP of Q1 and Q2 FY27 is projected at 6.9% and 7%, respectively.

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Maven exits AccessPay to Accel-KKR delivering 2.5x return

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Maven exits AccessPay to Accel-KKR delivering 2.5x return

Maven Capital Partners has successfully exited Manchester-based fintech AccessPay following its acquisition by US investment firm Accel-KKR, delivering a 2.5x return for investors in the Northern Powerhouse Investment Fund I.

The transaction marks a significant milestone for both AccessPay and the wider Northern fintech ecosystem, underscoring the growing strength of technology businesses outside London and the role of regional investment funds in scaling high-growth companies.

Maven first backed AccessPay in 2018 through the Northern Powerhouse Investment Fund (NPIF), investing £1 million to support the company’s expansion. The funding enabled the business to scale operations, invest in talent and accelerate revenue growth at a critical stage in its development.

Since then, AccessPay has grown into a leading provider of bank integration software, connecting corporate finance systems directly to banking networks and enabling automated, structured payment and reconciliation processes.

The platform is now used by more than 1,000 organisations globally, reflecting strong demand for solutions that streamline financial operations and improve data accuracy.

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The acquisition by Accel-KKR is expected to support AccessPay’s next phase of growth, including the development of new products and an accelerated acquisition strategy.

The US-based investor specialises in technology businesses and is likely to bring both capital and operational expertise to help expand AccessPay’s presence in international markets and strengthen its enterprise offering.

Anish Kapoor, (pictured) chief executive of AccessPay, said Maven’s early backing had been instrumental in the company’s growth.

“Maven supported us at a key point when we were scaling our market presence, and that foundation has helped us reach over 1,000 customers globally,” he said.

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AccessPay’s growth highlights the increasing importance of regional fintech hubs, particularly in Greater Manchester, which contributes more than £1 billion annually to the UK economy.

The company has established itself as one of the fastest-growing fintech businesses outside London, gaining recognition for its innovation in bank connectivity and enterprise payments infrastructure.

Jeremy Thompson, partner at Maven, said the exit reflects the strength of the business built during the investment period.

“This transaction is a testament to the company’s leadership and the solid financial foundation established over the years,” he said.

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The deal also illustrates the impact of public-private investment partnerships in supporting early-stage companies.

The Northern Powerhouse Investment Fund, backed by the British Business Bank, has played a key role in providing growth capital to businesses across the North of England.

Debbie Sorby of the British Business Bank said the exit demonstrates the value of equity finance in helping companies scale and succeed.

“This is a testament to AccessPay’s success and highlights the strength of the Northern fintech ecosystem,” she said, noting that further support will continue through the next phase of the fund.

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For AccessPay, the acquisition represents a transition from scale-up to global expansion, with increased resources to compete in a rapidly evolving financial technology market.

For Maven and its investors, the 2.5x return reinforces the case for backing high-potential regional businesses early and supporting them through to exit.

As demand for digital financial infrastructure continues to grow, deals such as this are likely to become more common, reflecting both the maturity of the UK fintech sector and the increasing global appetite for scalable technology platforms.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Delta Air Lines taps Amazon Leo for in-flight Wi-Fi as streaming wars heat up

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Delta Air Lines taps Amazon Leo for in-flight Wi-Fi as streaming wars heat up

The passenger cabin on a Delta Boeing 737-900ER is shown while landing in Salt Lake City, Utah.

Mike Blake | Reuters

Delta Air Lines has tapped Amazon Leo to provide fast internet service on hundreds of jets starting in 2028, the latest salvo in airlines’ in-flight Wi-Fi and streaming wars.

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Amazon Leo, which stands for low Earth orbit, is offering satellite Wi-Fi, which Delta says will initially be available on 500 of its aircraft. Delta will start with domestic-focused, narrow-body planes from Boeing and Airbus. The airline also uses Hughes and Viasat for in-flight Wi-Fi.

“People want faster speeds, they want more bandwidth, they want to share all their video and photos from their trip. Expectations are just rising every day,” Delta Chief Marketing and Product Officer Ranjan Goswami said in an interview.

Airlines have been turning to faster in-flight Wi-Fi and making the service free for loyalty program members as they seek to win over passengers and in some cases monetize a captive audience of millions with personalized ads and potential shopping.

Goswami said there will “clearly be commerce opportunities” as Delta refreshes its in-flight technology to update movie selections and other entertainment faster and to offer bigger libraries. He said Delta has about 165,000 seat-back screens in its fleet.

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Goswami said the initial batch of aircraft to offer the faster service will include Delta’s newly ordered Boeing 737 Max 10 planes as well as some older 737s and Airbus A321s, used mostly for domestic routes.

Chris Weber, Amazon Leo’s vice president, said the higher speeds come from its satellites, which are in orbit closer to Earth than some others.

“I think of the high-speed, reliable connectivity of the planes as foundation, and Delta will build some very unique experiences on top of that,” Weber said.

He said Amazon Leo is focused on building out its satellite constellations and has about 200 satellites in orbit and hundreds more manufactured for launching.

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The company is aiming to build a constellation of roughly 3,200 low Earth orbit satellites that will serve businesses, governments and consumers. Amazon launched an enterprise preview of Leo for select businesses last year as it works toward a broader commercial rollout.

American Airlines is weighing bringing back seat-back screens to its narrow-body fleet and would use either SpaceX’s Starlink or Amazon Leo with Amazon Prime content, CNBC reported last week. A decision could come as early as next month.

United Airlines and Hawaiian Airlines have recently started using SpaceX’s Starlink satellite Wi-Fi onboard.

— CNBC’s Annie Palmer contributed to this report.

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When Shops Open This Long Weekend

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Zayed International Airport Abu Dhabi International Airport

SYDNEY, Australia — Australians heading into the Easter long weekend from April 3 to 6, 2026, face a patchwork of retail trading restrictions that vary significantly by state and territory, with major supermarkets, shopping centres and bottle shops observing closures or reduced hours on Good Friday and Easter Sunday in most jurisdictions.

Easter 2026 Trading Hours Australia: When Shops Open This Long
Easter 2026 Trading Hours Australia: When Shops Open This Long Weekend

Good Friday on April 3 and Easter Monday on April 6 are national public holidays, while Easter Saturday and Sunday have different status across the country. Retail trading laws, designed to balance worker protections with consumer needs, create a complex landscape that often catches shoppers off guard, particularly for last-minute grocery or essential purchases.

Major supermarket chains including Coles, Woolworths and Aldi will close most stores nationwide on Good Friday, April 3. Exceptions are limited, with some airport or tourist-area outlets potentially operating in Queensland, South Australia and Western Australia. On Easter Sunday, April 5, restrictions tighten further in New South Wales and South Australia, where the majority of stores will remain closed, while Victoria, Queensland and Western Australia allow more outlets to trade, often with reduced hours.

Easter Saturday, April 4, offers the most normal trading across the country, with supermarkets generally open at standard or slightly adjusted hours. Easter Monday sees most chains reopen, though many operate on public holiday schedules with earlier closing times.

Shopping centres follow similar patterns. Westfield and other major malls will close on Good Friday in most locations. On Easter Saturday, most centres open from around 9am to 5pm, with variations in New South Wales and Victoria. Easter Sunday brings closures in New South Wales and South Australia, while centres in Victoria, Queensland and Western Australia open with limited hours, typically 10am to 5pm. Easter Monday trading resumes with many centres operating 10am to 5pm or later in select Sydney locations.

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Department stores such as Myer, David Jones, Target, Kmart and Big W generally align with mall hours, closing on Good Friday and offering restricted trading on Easter Sunday in restricted states. Hardware retailers like Bunnings often remain open on public holidays with standard hours in many areas, though some locations may adjust.

Bottle shops and liquor outlets face strict rules. Dan Murphy’s, BWS and Liquorland typically close on Good Friday nationwide, with limited or no trading on Easter Sunday in several states. Easter Saturday and Monday usually see normal or slightly reduced operations.

State-by-state differences add complexity. In New South Wales and the Australian Capital Territory, Good Friday and Easter Sunday are restricted trading days, meaning most non-exempt retail must close. Easter Saturday and Monday have fewer restrictions.

Victoria allows more flexibility on Easter Sunday for some supermarkets and centres, though many still operate reduced hours. Queensland has defined trading areas with specific allowable hours for non-exempt shops, particularly on Easter Sunday.

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South Australia maintains some of the strictest rules, with many metropolitan stores closed on Easter Sunday and limited options on other days. Western Australia, Tasmania and the Northern Territory generally offer more open trading, though individual stores may vary.

Pharmacies, including Chemist Warehouse and independent outlets, often remain open throughout the weekend as essential services, though hours may be reduced. Petrol stations and convenience stores like 7-Eleven typically operate as usual, providing vital access to essentials.

Restaurants, cafes and takeaway outlets generally stay open, though many adopt public holiday menus or hours. Tourist attractions, beaches and outdoor venues see high demand during the four-day break, with families taking advantage of the extended weekend.

Consumer groups advise planning ahead. Shoppers should check specific store locators on retailer websites or apps for exact hours, as individual outlets — particularly in regional areas or tourist precincts — may have exemptions. Airport and service station supermarkets often provide limited options when main stores close.

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The Easter period highlights ongoing debates about retail trading laws. Retail industry bodies argue for greater flexibility to meet consumer demand, while unions emphasise worker rights to family time and rest on significant holidays. Some states have deregulated trading in recent years, leading to more consistent access, but the patchwork remains.

For families preparing Easter meals, the advice is clear: stock up before Good Friday or plan for alternatives such as online delivery where available. Many supermarkets offer click-and-collect or delivery services with adjusted schedules during the long weekend.

Tourism operators expect strong domestic travel, with families heading to beaches, regional getaways or staying local for barbecues and gatherings. Public transport and road networks will operate on holiday timetables in many areas.

As Australians enjoy the break — with Good Friday and Easter Monday as national public holidays — retailers prepare for a surge in spending on non-restricted days. The long weekend provides a welcome respite after the busy summer period, though navigating trading restrictions requires some preparation.

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Easter 2026 falls slightly later than in some recent years, with Good Friday on April 3. This timing aligns with milder autumn weather in southern states, encouraging outdoor activities.

Retail experts note that while major chains dominate headlines, independent grocers, butchers and bakeries often provide valuable alternatives on restricted days, particularly in suburban and regional communities.

For the latest updates, consumers should consult official state government resources, retailer websites or apps. Trading hours can be subject to last-minute changes based on local conditions or individual store decisions.

The Easter long weekend remains one of Australia’s most significant consumer periods outside Christmas, blending religious observance with family celebrations and retail activity. Understanding the varied trading rules helps shoppers make the most of the break while respecting the holiday’s traditions.

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In summary, while Good Friday brings widespread closures and Easter Sunday limits options in several states, Easter Saturday and Monday offer more normal access. Planning ahead remains the best strategy for a stress-free long weekend across Australia.

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