Business
Every decision of government needn’t be a big reform: Anand Mahindra
On Modi government’s 10-point agenda.
I think it is almost brilliant to put at the head of the list the fact that bureaucrats should be encouraged to take decisions without fear. In a sense he’s gone to the heart of the problem of the paralysis. The Indian government is extraordinarily large and it is difficult to try and believe that one leader can make all the change. This is a federal system. In a large bureaucracy you cannot exercise the transformation of any situation without coopting bureaucracy.
So empowerment becomes important. It’s a good sign. If you remember, one of the major apprehensions about Modi was an autocratic style of functioning. By putting right at the top of the agenda the empowerment of the bureaucracy I think one has to appreciate and admit that it is definitely not the act of an autocrat.
On disbanding ministerial groups.
Without making much heavy weather of it, he’s been a case study for business schools on how to exercise leadership and have an impact from day one in the new job. He’s setting a clear agenda and is making a clear promise of making a measurement of progress made against that clear agenda. For example, making an agenda for 100 days will make it clear what the matrix would be for measuring success of that agenda. It is important that every day some incremental progress is made towards that agenda and that progress is communicated transparently. He has got his team ready, which is a focused team. To me, every decision needn’t be a big-bang reform but a signal of proactive decision-making and removal of red tape and bureaucracy. And a promise of even speedier decision-making in the future.
On the government’s immediate priorities.
Back in the 1980s, I had written a column headlined ‘Roads to Nowhere’. At that time we were not building enough roads. (Among) America’s competitive advantages happen to be its highways and its transportation network. Those are like blood vessels to the economy and they create job opportunities. Therefore, in a funny sense, the best thing anyone can do to create an inclusive economy is ironically through building roads, because access to markets or the lack of access to markets is one of the most discriminatory things one can do to the poor, especially to the rural poor. It’s not a point that we automatically think of but roads are a mechanism to create inclusiveness in the economy. So, I think, the faster he does that the better for the economy. There is huge economic data to show that roads (give) a bigger boost to rural income than even irrigation. It will help power dual income for families and will allow a kind of diversity from dependence on agriculture which creates productivity.
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On India-US ties.
I’ve been here (in the US) for quite a while now. The Indian elections have generated enormous interest. Most of the diplomatic and political pundits are now urging the leadership in Washington not to miss out on what they feel is the diplomatic opportunity for the US in reaching out to and rebuilding a very strong relationship with India. They feel US has lost ground because of the visa controversy and that they should now rediscover the ground and build a strong relationship.
There is a feeling that both Japan and China have both stolen a march on building this kind of relationship with India. There is going to be, in my opinion, a strong effort from decision-makers here to reach out to the prime minister and his colleagues to rebuild the relationship.
On the perception that the new government will tilt more toward the east — Japan, China, South Korea.
There has been significant interest shown by Japan. It is a country with a liquidity overhang and an investment surplus. Modi is well aware of that. Why Japanese investors have been holding back is because they did not perceive any of the promises we’ve given to be gaining traction.
In the area of construction and large industrial projects, they can take pole position in large projects here. That being said, everybody speculated what the position of the PM and the Cabinet would be and the PM is his own man. My contention is that our PM is a practical man and he knows that any kind of vindictiveness has no role in foreign policy.
I think his whole objective is to enhance India’s economic health and through that gain what should be India’s rightful role in the world. The fact that we are the world’s largest democracy and we are all aware that power and a role in global affairs for a nation comes from economic strength. I think, in his own way and at the right time, he will respond positively when the correct signals are sent out from the US administration.
On FDI in defence
We have been consistent from the time we entered into JVs with foreign companies. We have not changed our stance. Right from the beginning we have been representing to the government that it is a positive step to allow at least 49% investment through the automatic route. Because it encourages the foreign partner to deploy the technology into the JV. Otherwise, there is wariness on their part to provide 100% support to the joint venture. So if you really want the best technology to be manufactured here, then (it should be) a minimum of 49% stake, which we have always advocated.
On Mahindra’s investments plans.
We have never shied away from making investments. Even during downcycles, we never stopped our investments. We invested in the Chakan automotive plant when the economy was down; we also invested in the tractor plant in Zaheerabad when the tractor market was witnessing a downcycle. When the market improved for tractors we were able to ramp up our output. We always have a long-term view of the economy. We have consistently been investing. In defence, for example, if the government starts buying again for the much-needed upgrade then we’ll certainly make the investments. Pawan (Goenka) has gone on record to say that we are considering a Rs 4,000-crore investment, which is independent of the new developments. It was something we were going to do.
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Company is adding two production lines at Coopersville, Mich., facility.
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A UK technology company has secured a major $200 million contract with US authorities to deploy advanced fibre-optic sensing systems along American borders, marking a significant milestone for British-developed security technology on the global stage.
Sintela, headquartered in Bristol, will provide its “listening” infrastructure to support operations led by US Customs and Border Protection, expanding an initial $34 million agreement signed in 2020.
The three-year deal represents a substantial scale-up of the company’s capabilities and highlights growing demand for AI-driven monitoring systems in border security and critical infrastructure protection.
Sintela’s technology is based on distributed acoustic sensing (DAS), which uses fibre-optic cables to detect and interpret vibrations and sounds across long distances.
By attaching to existing fibre networks, the system can identify specific activities such as footsteps, digging, fence cutting or climbing, all in real time. The data is then analysed using artificial intelligence models that classify and prioritise potential threats.
The approach offers a significant advantage over traditional surveillance methods, particularly in remote or large-scale environments where installing and monitoring cameras would be impractical or prohibitively expensive.
Chief executive Magnus McEwen-King described the contract as a breakthrough moment for the company and the wider technology.
“We are inventing things others can’t do and are now deploying them at scale,” he said, calling the development a “quirky British success story”.
While the US-Mexico border is a key focus, Sintela’s systems are already deployed across multiple international borders, as well as in maritime environments.
Beyond border security, the technology is being used to protect critical infrastructure, including subsea pipelines, power lines and transport networks. Through a joint venture with SLB, the sensors have been installed on offshore pipelines to detect potential sabotage.
In urban environments, the same technology is being applied to monitor water networks for leaks and to assess wear and tear on railways and roads. In parts of Africa, it is being used by utilities to detect attempts to dismantle electricity pylons.
The technology originated from research at the University of Southampton’s Optoelectronics Research Centre, with several of the original researchers now forming part of Sintela’s team.
Since its founding in 2017, the company has grown steadily, reaching revenues of around £13 million in 2023 and expanding its international footprint with offices in the US, including a recent $10 million investment in its Michigan operations.
The new contract is expected to support further expansion, with Sintela having already recruited 50 additional staff across the UK and US and planning to hire another 50 in the near future.
The growth reflects increasing demand for technologies that combine physical infrastructure with digital intelligence, particularly in areas such as security, energy and transportation.
The deal underscores the rising importance of advanced sensing technologies in addressing complex security challenges, from border control to infrastructure resilience.
It also highlights the UK’s strength in deep-tech innovation, particularly in fields that combine academic research with commercial application.
As geopolitical tensions and infrastructure risks continue to evolve, demand for scalable, cost-effective monitoring solutions is expected to grow.
For Sintela, the $200 million contract represents not only a commercial milestone but also a validation of its technology at scale, positioning the company as a leading player in a rapidly emerging sector.
For the UK, it is another example of how homegrown innovation can compete globally, translating cutting-edge research into real-world applications with international impact.
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UK tech firm Sintela lands $200m US border security deal
Business
US Stocks today: Dow Jones soars 1,125 points, Nasdaq, S&P 3% as Iran war de-escalation seen
The Dow Jones Industrial Average rose 1,125.07 points, or 2.49%, to 46,341.21. The S&P 500 gained 185.27 points, or 2.92%, to 6,528.99, while the Nasdaq Composite climbed 795.99 points, or 3.83%, to 21,590.63.
The month-long war has left the S&P 500 and the Dow on track for their deepest quarterly declines since 2022 as investors worry that a wave of higher fuel costs could hurt demand for goods and services, while forcing the U.S. Federal Reserve to raise interest rates to contain inflation.
“What you’re seeing in capital markets today is speculation around an earlier off-ramp, or a cessation of hostilities,” said Bill Northey, senior investment director at U.S. Bank Wealth Management, in Billings, Montana.
“Details are light, but the capital markets are looking for any indication that there is an opportunity for a more normal flow of energy through the Strait of Hormuz.”
The U.S. stock market’s most valuable companies made big gains, with Nvidia, Alphabet, Meta Platforms and Amazon all higher.
The PHLX chip index also jumped. CoreWeave rallied after securing an $8.5 billion loan to expand AI infrastructure. Marvell Technology surged after Nvidia invested $2 billion in the firm. Many technology stocks have taken a beating in 2026 due to worries that Microsoft, Alphabet, Amazon and other heavyweights may be taking too long to show results from their massive spending in AI.
Last week, the Dow and the Nasdaq ended 10% below their record-high closes, confirming they were both in corrections. U.S. job openings fell more than expected in February and hiring dropped to the lowest level in nearly six years, government data showed.
The oil spike stemming from the Iran war has revived inflation worries, and money market traders think the Fed is more likely to raise interest rates by year-end than lower them, according to CME Group’s FedWatch Tool. Unilever agreed to separate its food unit and merge it with McCormick in a cash-and-stock deal, valuing the spice maker at about $44.8 billion. McCormick shares fell. Constellation Energy dropped after forecasting 2026 profit below Wall Street expectations.
From Pizza Hut to Dunkin’, Tom Brady is seemingly everywhere these days promoting food brands he once wouldn’t have touched during his NFL playing days.
The seven-time Super Bowl winning quarterback famously followed a strict health-focused diet and once referred to soda and sugary cereals as “poison for kids.” But Brady says he’s softened his stance in retirement.
“I think it’s moderation in all things,” Brady told CNBC’s Alex Sherman in a recent interview while discussing his partnership with Ferrero, one of the world’s biggest sweets makers. CNBC Sport’s full interview with Brady will be released on Thursday.
“I think there’s probably been people who have gone overboard with the kind of rigidity of my lifestyle or diet,” he said. “I have kids, and I have Halloweens and birthday parties, and we’re like a normal family.”
Brady built his career on health and longevity, pillars that helped him to play top caliber football until age 45. He’s also the co-founder TB12, a wellness brand centered on an anti-inflammatory diet, known for unconventional recipes such as avocado ice cream.
Brady recently wound down his TB12 brand, folding it into the Nobull fitness brand. Now, when it comes to endorsements, Brady said he’s focused more on creativity and connection.
“It’s good scripts and writing,” he said, along with opportunities to engage with fans.
During this year’s Super Bowl, Brady debuted both a Pizza Hut ad in which he gets tackled by an elderly woman while delivering pizzas, and a Dunkin’ ad spoofing “Good Will Hunting.”
Brady’s partnership with Ferrero includes a campaign pegged to the 2026 World Cup. In the ad, Brady is shown taking a bite of a chocolate Crunch bar and posing next to a trophy filled with chocolatey, sugary snacks.
“I just want to get out there and have a great time with the people,” Brady said.
Even so, Brady said he still aims to make healthy choices, but when he’s watching a football game, or traveling, he said it can be more difficult.
Despite hanging up his football cleats, Brady said he still works out frequently and makes sure to stay hydrated.
“I understand the reality of life as well,” he added. “I’ve been very fortunate over the course of my life to have people make food for me all the time and, we’ve had nutritionists as part of our teams, and I’ve been very blessed to have that.”
“I know there’s a lot of other people that are working really hard year round to provide for their family, and I have a lot of respect for those people and the way that they go about enjoying their life too,” Brady said.
Brady said when it comes to his own family, he makes pancakes for his kids with Nutella — another Ferrero product.
As for his own guilty pleasure? “Tic Tacs,” Brady said. (Yet another Ferrero brand.)
“They are everywhere in my house, and when I’m broadcasting,” he said.
A report has estimated the Royal Flying Doctor Service WA’s social value over the next 30 years would total $4.1 billion.
Virgin Galactic is reopening sales of its commercial spaceflights on a limited basis – though ticket prices have risen from the company’s previous rate.
The company made the announcement alongside its financial results for the fourth quarter and full year 2025, signaling that work on its fleet of SpaceShips is progressing to allow for commercial spaceflights to resume.
“We completed pivotal milestones during the first quarter of 2026, and with assembly of our first SpaceShip nearly complete and ground testing set to begin in April, we have released a limited number of Virgin Galactic Spaceflight Expeditions, each priced at $750,000,” Virgin Galactic Holdings CEO Michael Colglazier said in the release.
The $750,000 price point for Virgin Galactic’s commercial spaceflights is an increase of about $100,000 from what it charged before it paused spaceflights nearly two years ago to focus on building its SpaceShips that will handle the company’s space tourism business.
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Colglazier said that with the company’s first SpaceShip nearly complete and ready for testing, the construction of its second SpaceShip is progressing and expected to allow for it to enter service later this year or early next year.
“Fabrication efforts are pivoting to support testing and production of our second SpaceShip, which we expect will enter service between late Q4 2026 and early Q1 2027 in line with our planned ramp in spaceflight cadence,” he explained.
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“With production of SpaceShips well underway, we are gearing up for rocket motor assembly at our Phoenix factory, with manufacturing planned to begin in Q4 2026,” Colglazier added.
“We continue to strategically manage our capital to support our planned ramp in cash flow from commercial spaceline operations.”
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Virgin Galactic said in its full year 2025 financial highlights that revenue decreased from $7 million in 2024 to $2 million last year, with the commercial spaceflight pause largely driving the move.
The company’s new Delta class SpaceShips have a higher capacity of six passengers rather than four, and are also designed to handle a higher operational tempo of spaceflights than Virgin Galactic’s Unity prototype.
“I’ve had to turn my heating off already, I’ve put more blankets on the bed to try and keep the girls and myself warm, I’ve put jumpers on, I’ve made sure we don’t use as much hot water as that drains your oil quite substantially, so I’m boiling the kettle more, but that uses more electric,” she added.
Oracle on Tuesday reportedly began notifying employees that it is moving forward with a round of layoffs as the company looks to reduce costs.
The number of layoffs in the thousands, according to a report by CNBC that cited two people familiar with the matter.
Oracle has recently ramped up capital spending to build artificial intelligence (AI) data centers as the company looks to incorporate those tools into its business software services.
The company’s stock has been volatile over the last year amid the AI buildout, with shares up about 3.5% in the last year despite declines of 48% in the last six months and 25% year to date amid concerns that AI presents a competitive threat to software providers. Shares rallied over 4% during Tuesday’s trading session on the layoff news.
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Business Insider reviewed copies of the layoff notification email sent to affected employees, which informed them they will be eligible to receive a severance package after signing their termination paperwork.
“After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as a part of a broader organizational change,” the email reviewed by the outlet said. “As a result, today is your last working day.”
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Oracle’s most recent 10-K filing noted the company had about 162,000 full-time employees in May 2025.
The company said in a March filing that it expects the total costs associated with its restructuring plan in fiscal year 2026 to be as high as $2.1 billion, most of which would go to employee severance and related expenses.
Tech companies are reassessing their workforces amid the rise of AI as they look to shift resources to meet infrastructure needs.
Meta announced layoffs affecting a few hundred people across multiple teams last week, and Reuters previously reported that Meta was planning sweeping layoffs that could affect 20% or more of its workforce.
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Reuters contributed to this report.
The Trump administration on Monday issued a proposed rule to allow retirement plans to offer alternative assets like private equity and cryptocurrencies as part of the investment options in 401(k) accounts.
The Labor Department’s rule aims to ease longstanding barriers to incorporating alternative assets into retirement plans and follows an executive order signed by President Donald Trump last summer on the subject.
Advocates for the rule change argue that including alternative assets in 401(k) plans can help foster better long-term returns and make diversification easier. Skeptics note that alternative assets can be less liquid, more complex and have higher fees, which can limit gains while also introducing risk.
Under the proposed rule, plan fiduciaries would have to objectively, thoroughly and analytically consider and make determinations about performance, fees, liquidity, valuation, performance benchmarks and complexity. Trustees who abide by those rules will be granted safe harbor that protects them from lawsuits.
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Managers of defined contribution plans have historically had the authority to consider alternative investments, though most have opted against doing so.
The Biden administration in 2022 issued a rescinded compliance release that warned fiduciaries against including cryptocurrency options in 401(k) plans, which the Trump administration criticized as a “departure from the department’s decades-long approach to fiduciary investment decisions.”
Labor Secretary Lori Chavez-DeRemer said that the agency’s newly proposed rule “will show how plans can consider products that better reflect the investment landscape as it exists today. This greater diversity will drive innovation and result in a major win for American workers, retirees, and their families.”
Treasury Secretary Scott Bessent added that the pending regulation “is an initial step in implementing the President’s Executive Order in a safe and smart manner, broadening access to additional retirement plan options for millions of Americans while being mindful of the importance of protecting retirement assets.”
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Following the Labor Department’s release of the proposed rule, the agency will open a 60-day comment period ahead of a decision to finalize the rule.
Alternative asset managers like Blackstone and Apollo Global Management could benefit from the opportunity to draw on a new pool of capital. Several industry members and groups applauded the rule.
Apollo CEO Marc Rowan said that the change is a “thoughtful step toward addressing the growing retirement crisis,” noting that “Americans increasingly lack the savings and income needed for a secure retirement” and that the shift could “meaningfully improve retirement outcomes.”
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If the rule is adopted, Erin Cho, a partner at the Mayer Brown law firm, said that it “will not open the floodgates for private equity, private credit or crypto funds to move into the retirement space” as it will only provide a process for doing so.
Reuters contributed to this report.
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