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Cairn: Vedanta plunges 5.59 per cent on LSE amid talks to buy Cairn stake

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LONDON/MUMBAI: Shares of NRI billionaire Anil Agarwal-led Vedanta Resources on Friday plunged 5.59 per cent on the London Stock Exchange amid talk that it may acquire a majority stake in the Indian arm of Cairn Energy.

In the late afternoon session, the scrip was being traded at 20.61 pounds, down by 5.50 per cent on the LSE. Vedanta opened on a positive note, but soon swung into the red.

The broader market was also weak and the benchmark FTSE 100 was trading at 5,248.95, down 0.32 per cent in the late afternoon session.

On the other hand, Cairn Energy Plc climbed 1.41 per cent and was being quoted at 4.59 pounds on the LSE.

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In India too, Vedanta Group firm Sterlite Industries sank by over 4 per cent to close at Rs 160.70 on the Bombay Stock Exchange. Sterlite was the biggest loser in the Sensex pack today.


In contrast, Cairn Energy Plc’s Indian arm, Cairn India, surged by over 5 per cent to hit its highest-ever level of Rs 358 on the BSE. The scrip ended with a gain of 355.45, up 4.36 per cent.
Vedanta Resources Plc is in talks to acquire a majority 51 per cent stake in Cairn India for about USD 8-8.5 billion (nearly Rs 40,000 crore) and a deal may be announced on Sunday evening or Monday.Scottish explorer Cairn Energy Plc, which holds a 62.37 per cent stake in India-listed Cairn India, is seeking up to a 20 per cent premium for passing on the controlling stake, two persons in-the-know of the development said.

Agarwal “is meeting Cairn Energy Plc Chief Executive Bill Gammell in London today and the deal is likely to be announced as early as Sunday evening or on Monday,” one of them said.

The deal will be contingent on government approval, as Cairn’s three producing oil and gas assets, including the giant Rajasthan fields, and seven exploration blocks either have explicit provisions for seeking prior approval before the transfer of interest or gives pre-emption, or the right of first refusal, on any shares being sold to partners like ONGC.

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Trump threatens Iran with power plant strikes over Hormuz blockade

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Trump threatens Iran with power plant strikes over Hormuz blockade


Trump threatens Iran with power plant strikes over Hormuz blockade

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Is PlayStation Network Down? Network Experiences Brief Outage on March 21, 2026

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The smooth design of the PlayStation controllers set them apart from rivals

PlayStation Network (PSN), Sony Interactive Entertainment’s online gaming and digital services platform, faced intermittent disruptions late Saturday into early Sunday, affecting players on PS5 and PS4 consoles worldwide. As of early Sunday morning, official channels indicate full restoration, though some users continued reporting lingering connectivity hiccups.

The smooth design of the PlayStation controllers set them apart from rivals
AFP

Sony’s PlayStation Service Status page, the company’s primary real-time indicator, declared “All services are up and running” for core functions including account management, gaming and social features, PlayStation Video, PlayStation Store, and PlayStation Direct. No ongoing maintenance, regional outages, or degraded performance appeared listed for major territories as checks were conducted around midnight into March 22.

The issues surfaced prominently on March 21, with Sony acknowledging problems around 4:59 p.m. ET via the status portal. Affected areas primarily included “Gaming and Social,” alongside Challenges, Game Help, Game Streaming, Tournaments, and Trophies. Users described difficulties launching multiplayer games, accessing online features, earning trophies, or signing in consistently. Some reported being kicked from sessions mid-game, particularly in titles reliant on persistent connections such as competitive shooters or live-service experiences.

Downdetector, which compiles user-submitted complaints, reflected elevated reports in the preceding 24 hours, with server connection issues comprising about 41% of feedback, followed by gameplay problems at 21% and login difficulties at 21%. While not reaching the scale of historic global blackouts—such as the infamous 2011 breach or major 2022 events—the spike prompted widespread discussion across gaming communities.

On Reddit, subreddits like r/playstation featured megathreads titled “PSN Outage Megathread – March 21st 2026,” amassing hundreds of comments detailing similar experiences. Users in various regions, from North America to Europe, noted network errors when attempting online play in games like MLB The Show or Diablo 4. Some speculated third-party server involvement, such as EA’s infrastructure, but most tied complaints directly to PSN authentication.

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X (formerly Twitter) buzzed with real-time queries and updates Sunday morning. Posts included users asking Grok directly if servers remained down, others venting frustration over interrupted sessions, and confirmations that connectivity fluctuated overnight. One user noted, “PSN has been going up and down for people all night,” while another observed partial recovery in specific games despite broader uncertainty.

Sony provided no detailed public statement beyond the status page update, which later reflected restoration beginning around 10:40 p.m. on March 21 in some time zones. The company often communicates via @AskPlayStation for troubleshooting or @PlayStation for broader announcements, but no fresh posts addressed root causes Saturday or early Sunday. Past incidents have ranged from routine maintenance to external factors like distributed denial-of-service attacks, though no evidence pointed to malice here.

For affected players, basic troubleshooting remained the first line of defense: restarting consoles, verifying internet stability, checking for system software updates, and testing connections directly through console settings (on PS5: Settings > Network > Connection Status > View PlayStation Network Status). Sony advises against repeated login attempts during suspected issues to avoid temporary locks.

The brief disruption arrives amid broader transitions for Sony’s ecosystem in 2026. The company plans to phase out “PlayStation Network” and “PSN” branding entirely by fall 2026—potentially September—to better encompass expanding services like PC ports, cloud gaming, and cross-platform features. Developers received notifications about terminology shifts accompanying a platform update later this year.

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Simultaneously, legacy PS4 support continues winding down gradually. Starting spring 2026, new PS4 titles will lose integration with several PSN-linked developer features: Activity Feed, certain web APIs for shared media, title storage options, word filters, and user profiles. Existing games retain functionality, but the change nudges development toward PS5. Rumors of complete PS4 online shutdowns circulated widely on social media and forums, yet Sony issued no such confirmation. Core multiplayer, cloud saves, and store access for PS4 owners are expected to persist for the foreseeable future, mirroring extended support for even older hardware like PS3.

PlayStation Plus subscribers received a small goodwill gesture following a prior recent outage, with automatic five-day membership extensions—no action required. Whether similar compensation follows the March 21 event remained unclear Sunday morning.

The incident underscores ongoing challenges for always-online gaming ecosystems. Millions rely on PSN daily for multiplayer battles, digital purchases, remote play, and social sharing. Even short interruptions disrupt communities, especially during peak weekend hours or live events.

Independent trackers like DownForEveryoneOrJustMe showed no persistent global failure early March 22, aligning with Sony’s all-clear. Isolated complaints likely stem from cascading effects, ISP variances, or device-specific glitches rather than systemic failure.

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Gamers facing persistent problems should monitor status.playstation.com directly or consult PlayStation Support. With PS5 sales surpassing 92 million units and the platform maturing into 2026, Sony continues prioritizing reliability amid evolving digital landscapes.

As services stabilize, focus shifts back to upcoming releases, potential hardware refreshes, and the rebranding horizon. For now, PlayStation players appear able to reconnect and resume play without major barriers.

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U.S. Gas Exporters Stand to Be the Big Winners of the Energy Crisis

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U.S. Gas Exporters Stand to Be the Big Winners of the Energy Crisis

American energy companies are poised to play an even more pivotal role in global flows of liquefied natural gas—and rake in the profits—as Iran targets its neighbors’ exports.

LNG facilities in Qatar, the second-biggest supplier of LNG globally, are expected to be offline for months—and won’t resume production at prewar levels. National oil company QatarEnergy, which had already declared force majeure earlier this month, said strikes by Iran on Wednesday and Thursday caused extensive damage to its Ras Laffan hub.

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Volkswagen CEO tells newspaper German carmakers should look to Chinese planning

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Volkswagen CEO tells newspaper German carmakers should look to Chinese planning


Volkswagen CEO tells newspaper German carmakers should look to Chinese planning

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Potential Qatari asset sales emerge as a necessity to plug 2026 budget gaps

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Potential Qatari asset sales emerge as a necessity to plug 2026 budget gaps

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Sartorius Aktiengesellschaft (SOAGY) Sartorius Stedim Biotech S.A. – Analyst/Investor Day – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Sartorius Aktiengesellschaft (SOAGY) Sartorius Stedim Biotech S.A. – Analyst/Investor Day – Slideshow

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Australian Foundation Investment Co (AFOVF) Mirrabooka Investments Limited, AMCIL Limited, Djerriwarrh Investments Limited – Shareholder/Analyst Call – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Australian Foundation Investment Co (AFOVF) Mirrabooka Investments Limited, AMCIL Limited, Djerriwarrh Investments Limited – Shareholder/Analyst Call – Slideshow

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Ukraine says talks on resolving war to continue in US on Sunday

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Ukraine says talks on resolving war to continue in US on Sunday


Ukraine says talks on resolving war to continue in US on Sunday

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Family of Iranian butcher missing in strike on commercial complex clings to hope

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Family of Iranian butcher missing in strike on commercial complex clings to hope


Family of Iranian butcher missing in strike on commercial complex clings to hope

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Dow Jones Bounces Late After Sell-Off As Trump Mulls ‘Winding Down’ Iran War

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Dow Jones Bounces Late After Sell-Off As Trump Mulls 'Winding Down' Iran War

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The focus will remain on oil prices, global bond yields and Iran war news over the weekend. The stock market fell solidly last week, with all the major indexes breaking below their 200-day lines and multimonth lows. Global oil prices kept climbing amid the Iran…

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