In an exchange filing, the company announced that its board of directors has approved the proposal to buy back 144 lakh fully paid-up shares of the company with a face value of Re 1 each for an aggregate amount not exceeding Rs 252 crore. This represents 6.52% of the company’s total paid-up equity share capital and 5.65% of the free reserves.

Record date for Welspun Living share buyback

The record date to determine the eligibility for shareholders who can tender shares in the buyback has been fixed on May 22.Welspun Living further said that the board has formed a buyback committee to oversee the corporate action. It has appointed DAM Capital Advisors as the manager of the buyback.

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This comes after Welspun Living undertook a Rs 278 crore share buyback via the tender route back in August 2024. The buyback price for the offer was fixed at Rs 220 apiece. Share buyback refers to a corporate action where a company repurchases its own shares from existing shareholders, mostly at a premium to the market price.

Welspun Living Q4 Results

Along with the share buyback, Welspun Living on Friday announced its results for the January-March quarter of the financial year 2026. The company’s net profit declined more than 21% to Rs 104 crore in Q4 FY26, as against Rs 132 crore in the corresponding quarter of the previous financial year.The textile company’s revenue from operations, meanwhile, declined around 8% YoY to Rs 2,435 crore in Q4 FY26 from Rs 2,646 crore in the same quarter last year. EBITDA fell around 17% YoY to Rs 265 crore, while EBITDA margin contracted to 10.8% during the quarter under review.

Welspun Living share price

Despite the sharp decline in earnings, Welspun Living shares jumped 3% to trade at Rs 138 apiece on NSE after the buyback announcement, as seen at 2.20 pm. The shares of the company have gained over 4% in one week and 12% in one month. The stock is overall up 6% in 2026 so far.

In the longer term, the stock has jumped 50% in three years and 38% in five years. The company has a market capitalisation of Rs 13,200 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Paul Orders driven a pro-business and investment agenda for the capital city

One of Wales’ most respected local authority chief executives, Paul Orders, is standing down.

Mr Orders was appointed chief executive of Cardiff Council in 2013, succeeding Jon House, having returned to the council after a two-year stint as chief executive of Dunedin Council in New Zealand.

He had previously held a number of senior officer roles, having first joined the authority as a policy research officer in 1998, including head of policy and economic development and corporate director (place).

The recruitment process to appoint his successor is now under way. The role has a salary of £208,116. Mr Orders will remain in post until his successor takes up the role. As the biggest local authority in Wales, it will attract strong interest externally, but also from within the existing senior team.

Mr Orders, originally from Maesteg, has overseen a pro-business and investment agenda for the city. This has seen the council, unlike many other local authorities, taking a partnership approach with business, including helping to oil the wheels of investment by de-risking projects when necessary.

Very much aligned with the council’s cabinet member for investment and development, Russell Goodway, and the economic development team under Neil Hanratty, Mr Orders is helping to drive a new wave of mixed-use development at Atlantic Wharf in Cardiff Bay. Work is progressing on a first phase that will deliver a new indoor arena – which had long been seen as a missing link in the capital’s entertainment infrastructure.

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While the city has seen significant investment, Mr Orders’ role has also involved tackling the socio-economic challenges of the city being home to some of the most deprived communities in Wales.

He played an important role in the creation of the Cardiff Capital Region, which covers the ten local authorities of south-east Wales. Cardiff Council was the city region’s accountable body before its transition to a statutory body in spring 2024.

His expertise could be in demand in a consultancy and non-executive capacity.

Mr Orders, aged 57, said: “I have been chief executive of the council now for over 12 years and consider it a privilege to have worked with member and staff teams that are second to none.

“However, I feel now is the right time for me to signal my departure, to allow me more time and flexibility to concentrate on personal priorities, and to enable the council to oversee a management transition well in advance of the local elections next year.

“I would like to thank members across the chamber for the opportunity I have been given to serve the council, since my first role as a policy research officer in 1998, and to help shape and deliver the Cardiff agenda.”

Former leader of the council, Huw Thomas, who stood down after being elected a Senedd member earlier this month, praised Mr Orders for his unstinting professionalism and calm approach.

Mr Thomas said: “The relationship between a leader and chief executive is key to the success of the delivery of any council agenda. My relationship with Paul was based on mutual respect and absolute trust. He is not just the epitome of professionalism and management, but also delivery – an assessment shared by numerous regulators such as the Wales Audit Office and in reports by Care Inspectorate Wales, as well as various council of the year awards.

“There is huge respect and affection for Paul in the Cardiff chamber, knowing that he is impartial and wants to help all councillors. Twelve years is a terrific stint for a chief executive, and many authorities across the UK look enviously at the stability that we have had. Paul leaves huge shoes to fill. This is not a retirement, but a stepping down, and I am sure he will continue to play an important role in public civic life in Wales.”

Cardiff Council deputy leader Sarah Merry said: “To come into cabinet can be a huge and daunting challenge, but I have found Paul a constant and calm source of advice and support whenever needed.”

Leader of the council’s Liberal Democrat group and a former leader of the council, Rodney Berman, said: “Paul has been a superb officer. I have had an opportunity to work with him over a good many years, and we could always see from the outset that he was somebody with a lot of potential and that he would rise fast.

“I wasn’t at all surprised when it was announced he was coming back as chief executive, and we have been much better served in this city because of that. He is a very calm figure who just sorts out problems… and we need someone who follows on from that.

“I don’t think there is anybody who doesn’t think he is an excellent officer whatever side of the chamber they are on, or amongst council staff.”

NEW YORK — AT&T customers across multiple states reported widespread service disruptions Friday, with hundreds of subscribers unable to make calls, send texts or access mobile data as the telecom giant faced another day of reported outages on May 15, 2026.

The outage, first flagged early Friday morning, quickly gained attention on social media and outage tracking sites after the popular account @status_is_down posted: “AT&T is reportedly down for hundreds of subscribers right now. Are you one of them?” The message included a link to a Design Taxi community forum thread titled “Is AT&T down? [May 15, 2026]” and quickly spread across platforms.

Downdetector and similar services showed spikes in user reports, primarily affecting wireless voice, text and data services. Some customers also reported issues with AT&T Internet and U-verse TV, though wireless appeared hardest hit. Reports were concentrated in urban centers and suburban areas, with users in New York, California, Texas and the Midwest among the most vocal.

Many affected subscribers described their phones displaying “SOS” or “No Service” in the status bar, preventing normal connectivity even when Wi-Fi calling was enabled. Others noted intermittent signal drops, failed app loading and delayed notifications. The timing — during morning commutes and work hours — amplified frustration for business users and families relying on reliable mobile service.

No Immediate Official Confirmation

AT&T’s official outage status page and support channels had not issued a specific alert for a nationwide incident as of mid-morning Friday. The company’s general support article on checking for outages remained unchanged, directing users to sign in for personalized information. Past large-scale AT&T outages, including the February 2024 event that affected millions, were quickly acknowledged with public updates and root-cause explanations.

Industry observers noted that smaller, regional disruptions are common and often resolve within hours without formal statements. However, the volume of social media complaints and the timing — shortly after previous minor incidents earlier in May — fueled speculation about underlying network strain.

User Reactions and Social Media Buzz

Frustration poured out online. Customers shared screenshots of error messages and “SOS” indicators, with many tagging AT&T and demanding answers. The hashtag #ATTDown trended briefly alongside #AT&T, echoing patterns from previous outages. Some users reported switching to rival carriers’ networks or using personal hotspots as temporary workarounds.

Parents expressed concern over inability to reach children at school, while remote workers complained of dropped video calls and delayed emails. One user posted, “This is the third time this month — AT&T needs to fix whatever is going on with their towers.” Others speculated about possible maintenance or external factors such as weather or fiber cuts, though no evidence supported those theories.

The @status_is_down account, which specializes in alerting followers to service interruptions, has helped thousands feel less isolated during similar events. Its Friday post served as an early aggregator of user experiences before mainstream media coverage emerged.

Broader Context of Telecom Reliability

AT&T, one of the largest U.S. wireless providers, has faced scrutiny over network reliability in recent years. The 2024 nationwide outage, caused by an incorrect process during network expansion, lasted hours and affected emergency services in some areas. Federal regulators and consumer advocates have pushed for greater transparency and redundancy following such incidents.

Friday’s reported problems come amid ongoing industry-wide challenges. Carriers continue upgrading to 5G Advanced and preparing for 6G, but high demand, spectrum constraints and supply chain issues for equipment can create temporary vulnerabilities. Analysts note that even minor outages generate outsized attention because mobile service has become essential infrastructure for daily life.

Competitors Verizon and T-Mobile appeared unaffected based on real-time tracking, leading some customers to question switching providers. However, experts caution that all major carriers experience periodic localized issues, and comprehensive comparisons require longer-term data.

Troubleshooting and What Customers Can Do

AT&T recommends standard steps for users experiencing problems:

• Restart the device and toggle airplane mode.
• Check for software updates.
• Test Wi-Fi calling as a workaround.
• Verify account status through the myAT&T app or website.

For persistent issues, customers can report problems via the AT&T app or support line. The company also offers outage alerts for internet services through its customer portal.

In cases of prolonged disruption, affected users may qualify for credits or compensation under AT&T’s service guarantees, though details depend on individual plans and outage duration.

Looking Ahead

As of Friday afternoon, many reports indicated gradual restoration of service, though some areas continued experiencing spotty connectivity. AT&T has not yet released a formal statement on the May 15 incident, consistent with its handling of smaller-scale events.

The episode underscores the growing reliance on wireless networks and the frustration when they falter. For millions of AT&T subscribers, even brief interruptions disrupt work, family communication and emergency preparedness.

While today’s outage appears limited compared to past nationwide events, it serves as a reminder of the need for robust network resilience. Carriers continue investing billions in infrastructure, but consumer expectations for near-perfect uptime have never been higher.

Users are advised to monitor official AT&T channels and outage trackers for updates. In the meantime, many are turning to alternative communication methods until full service returns. The incident, though relatively contained, highlights ongoing challenges in maintaining seamless connectivity in an increasingly wireless world.

As the day progresses, more details may emerge about the cause and scope. For now, affected customers continue sharing experiences online, hoping for swift resolution and clearer communication from the carrier. The May 15 disruption joins a growing list of reminders that even the largest telecom networks can face unexpected hurdles.

AUSTIN, Texas — Elon Musk offered a simple yet powerful affirmation Friday, replying “True” to a viral X post declaring that “the most important thing in life is having true friends,” accompanied by a photo of the Tesla and SpaceX CEO alongside NVIDIA’s Jensen Huang. The understated response quickly exploded online, amassing millions of views and sparking widespread discussion about friendship, loyalty and the human side of high-stakes tech leadership.

The original post by popular X account @cb_doge featured an image of Musk and Huang together in a relaxed, friendly moment, likely captured during their recent high-profile trip to China aboard Air Force One with President Donald Trump. The duo, both titans of the artificial intelligence and semiconductor worlds, have forged a close professional and personal bond over years of collaboration on cutting-edge technology. Musk’s two-word reply resonated instantly, striking a chord with users who saw it as a rare glimpse of vulnerability and warmth from one of the world’s most polarizing billionaires.

Within hours, the post and Musk’s reply generated more than 15 million views, 150,000 likes and thousands of reposts and replies. Users flooded the thread with their own stories of friendship, memes celebrating the tech leaders’ camaraderie and heartfelt messages about the value of genuine relationships in an often cutthroat industry.

Recent Trip to China Highlights Bond

The photo appears to stem from the May 13-14 Trump-Xi summit in Beijing, where Musk, Huang and other U.S. tech executives joined the presidential delegation to discuss trade, AI and semiconductor cooperation. Images and videos from the trip showed Musk and Huang traveling together on Air Force One, engaging in candid conversations and even sharing lighthearted moments at official events.

Musk has publicly praised Huang in the past, crediting NVIDIA’s early support for Tesla’s autonomous driving efforts and highlighting their shared vision for AI advancement. Huang, in turn, has described Musk as a visionary who believed in NVIDIA’s technology when few others did. Their partnership has deepened as both companies push the boundaries of AI infrastructure, with Tesla relying heavily on NVIDIA chips for its Dojo supercomputers and autonomous vehicle development.

The China trip itself drew significant attention, with Musk and Huang among the high-profile business leaders accompanying Trump. Photos of the group at the Great Hall of the People, including Musk performing his signature “photo-spin” for cameras, underscored the blend of diplomacy, business and personal rapport.

Friendship in the Tech World

Musk’s affirmation of true friendship comes at a time when the tech industry is often criticized for cutthroat competition, intense rivalries and fleeting alliances. Observers noted the post humanizes Musk, who frequently faces scrutiny over his public persona, work habits and controversial statements. Many replies celebrated the image of two visionary leaders supporting each other amid the pressures of building the future.

Replies ranged from heartfelt endorsements — “True friends are priceless” — to humorous takes on Huang’s signature leather jacket and Musk’s casual style. Some users drew parallels to other high-profile friendships in business, while others used the moment to reflect on personal relationships. A common theme emerged: in an era of digital connection, authentic bonds remain irreplaceable.

Industry analysts suggested the post subtly reinforces the collaborative spirit between Tesla and NVIDIA, two companies at the forefront of AI, electric vehicles and computing power. Their relationship stands in contrast to more adversarial dynamics seen elsewhere in Silicon Valley, such as ongoing tensions over chip supplies and market dominance.

Musk’s Philosophy on Life and Success

Musk has occasionally shared personal insights on X, from family values to the importance of long-term thinking. His “True” reply aligns with previous statements emphasizing loyalty, resilience and surrounding oneself with people who share a mission. Friends and associates have described Musk as someone who values deep, enduring relationships despite the demands of running multiple companies.

For Huang, the sentiment resonates with his own public comments about early supporters like Musk who backed NVIDIA during critical periods. The two have appeared together at conferences and events, often discussing the future of AI with mutual respect and enthusiasm.

Viral Impact and Cultural Resonance

The post’s rapid spread highlights X’s role as a platform for unfiltered moments from influential figures. Musk’s massive following — more than 200 million users — amplifies even brief comments into global conversations. The exchange has been covered by major outlets, with commentators praising its simplicity and authenticity in an age of polished public relations.

Social media users from diverse backgrounds shared how the post prompted personal reflection. Parents posted about teaching children the value of true friendship, while professionals discussed navigating workplace alliances. Some drew connections to broader themes of trust in leadership, both in business and politics.

Critics, however, noted the irony of a billionaire discussing friendship while navigating complex business and regulatory challenges. Others appreciated the reminder that even the most powerful figures prioritize human connection. The post has sparked countless memes, quote graphics and video edits celebrating friendship across industries.

Broader Implications for Tech Leadership

As AI reshapes industries and geopolitical tensions influence global supply chains, personal relationships among tech leaders can play a subtle but significant role. Musk and Huang’s rapport has facilitated collaboration on projects critical to U.S. innovation and competitiveness. Their joint presence in Beijing signaled unity in high-stakes diplomatic and economic discussions.

The moment also humanizes the often-intimidating world of big tech. In an era where executives are scrutinized for every statement and move, a simple affirmation of friendship offers a refreshing counterpoint. It underscores that behind the balance sheets and bold visions are individuals who value the same fundamental things as everyone else.

As reactions continue pouring in, Musk’s brief reply stands as a testament to the enduring power of genuine connection. In a world increasingly defined by algorithms and competition, the image of two trailblazers sharing a moment of camaraderie reminds millions that true friends remain one of life’s greatest assets — a sentiment Musk himself endorsed with just one word.

The post remains live and continues gaining traction, serving as a timely reminder amid fast-paced technological change. Whether viewed as a casual comment or a deeper philosophical statement, Musk’s agreement has resonated far beyond the tech community, sparking conversations about what truly matters in life.

BEIJING — President Donald Trump emerged from two days of intense negotiations with Chinese President Xi Jinping with tangible victories that strengthen America’s economic position, as the United States extracted concrete commitments on energy purchases, Boeing aircraft orders and agricultural exports while holding firm on core strategic issues including Taiwan and technology restrictions.

The high-stakes summit, the first U.S. presidential visit to China in nearly a decade, concluded Friday with Trump declaring the meetings “extremely productive” and securing deliverables that directly benefit American workers, manufacturers and energy producers amid global disruptions caused by the Iran conflict. While both leaders projected warmth and mutual respect, analysts assessing outcomes say Trump achieved more measurable gains without making significant concessions on America’s strategic red lines.

Trump brought a powerful delegation of U.S. business leaders including Elon Musk, Tim Cook and Jensen Huang, leveraging their presence to push for expanded market access and fairer trade practices. The trip yielded commitments from China to significantly increase purchases of U.S. energy, Boeing aircraft and agricultural goods — moves designed to help offset global oil supply concerns and support American jobs.

Key Wins for the United States

White House officials highlighted several concrete outcomes. China agreed to ramp up imports of American liquefied natural gas and other energy products, providing crucial stability for U.S. producers facing volatile global markets. Boeing secured firm commitments for additional aircraft orders, a major boost for American manufacturing and aerospace workers. Agricultural exports also received a significant lift, benefiting Midwest farmers.

On the diplomatic front, both nations reaffirmed that Iran must not develop nuclear weapons and that the Strait of Hormuz must remain open for energy shipments — a critical priority for global markets and U.S. allies. Trump’s team successfully avoided major concessions on Taiwan, with no softening of America’s support for the island’s security despite Xi’s firm public statements on the issue.

Trump used the summit to reinforce America’s technological edge, with U.S. executives pressing successfully for improved regulatory conditions. The meetings also advanced discussions on fentanyl precursor chemicals, addressing a key domestic priority for the Trump administration.

China’s Limited Gains

While Xi hosted Trump with full state honors and emphasized “partnership over rivalry,” Beijing offered mostly incremental steps rather than structural reforms. Chinese state media focused heavily on optics and mutual respect, but analysts note that China conceded more on commercial purchases to secure stability during a period of global uncertainty. Xi’s warning on Taiwan was firm but produced no policy shift from the American side.

Trump’s approach — combining personal diplomacy with business leverage — proved effective. The inclusion of top American CEOs created direct pressure that translated into purchasing commitments, giving the U.S. side measurable economic wins that can be highlighted domestically.

Strong Domestic and International Reaction

In Washington, Republicans hailed the summit as a clear success for American interests, with many praising Trump’s ability to extract concessions while protecting strategic priorities. Business groups welcomed the energy and aircraft deals as immediate boosts for U.S. exporters. Democrats offered measured praise for the energy stability agreements while calling for stronger action on human rights.

Taiwanese officials expressed satisfaction that no major concessions were made on their security. European and Asian allies viewed the outcome as a net positive for global stability, with U.S. leadership helping maintain pressure on key issues like Iran.

Strategic Context and Long-Term Impact

The summit occurred against the backdrop of ongoing U.S.-China competition, but Trump’s team successfully framed the relationship as one of managed rivalry rather than outright confrontation. By securing commercial wins without compromising on technology export controls or Taiwan policy, the administration advanced America’s economic interests while maintaining strategic deterrence.

Analysts note that Trump’s personal rapport with Xi, built over multiple meetings, allowed for more direct and results-oriented discussions than traditional diplomatic channels. The presence of Musk, Cook and Huang amplified American leverage, demonstrating the synergy between U.S. government policy and private-sector strength.

For China, the visit provided valuable stability during a challenging period, but the tangible concessions on purchases and energy suggest Beijing blinked first on immediate economic pressure points. Xi maintained his public stance on Taiwan but failed to extract any softening of U.S. positions.

What Comes Next

Trump returns to Washington with deliverables he can tout as proof of his “America First” approach delivering results. Follow-up negotiations will focus on implementing the new purchase agreements and addressing remaining issues. Xi’s invitation to visit the White House in September keeps dialogue channels open.

The Beijing summit marks a notable chapter in U.S.-China relations, with Trump demonstrating that targeted diplomacy backed by economic leverage can produce favorable outcomes for American interests. While the broader strategic competition continues, this meeting delivered clear edges for the United States on trade, energy security and maintaining firm positions on core national security concerns.

As Air Force One departed Beijing, Trump’s team projected confidence that the agreements reached will strengthen the U.S. economy and global standing. In the ongoing superpower relationship, this round clearly tilted toward American priorities and practical wins. The true test will be in the months ahead as both nations implement what was agreed and prepare for future engagements.