IT major Tata Consultancy Services has said job cuts may continue in 2026 if needed. The company has let go of around 30,000 employees in the last six months. TCS said the exits are part of an ongoing restructuring plan announced in 2025. The company added that there is no fixed target for layoffs. Every exit will follow an internal process and valid reasons. TCS’ total workforce fell to about 5.82 lakh by December 2025. The move comes as firms adjust to AI tools, lower demand, and cost pressures. Tighter office attendance rules and delayed appraisals have also raised employee concerns.

India's National Investment and Infrastructure Fund (NIIF), KKR, and Sembcorp are competing to acquire renewable energy supplier Sprng Energy from Shell Plc in one of India's biggest renewable M&A deals. Shell purchased Sprng from Actis for $1.5 billion three years ago and has since expanded the company's 5GW energy generation portfolio. The three contenders submitted non-binding offers in late December, with Macquarie also showing interest. Shell is reviewing strategic options to unlock long-term value, driven by shareholder pressure to focus on core exploration and production. Shell previously attempted partial divestments last year, but valuation mismatches stalled those efforts. The sale could become the largest renewable energy M&A deal this year. (PC: iStock)

Reliance Industries Limited strongly denied Bloomberg's report claiming three Russian oil tankers were heading to its Jamnagar refinery. RIL clarified it received no Russian oil cargo in approximately three weeks and expects no deliveries in January. The company expressed deep displeasure that Bloomberg published the report despite RIL's denial, accusing the publication of ignoring its clarification and tarnishing its image. Bloomberg had reported three vessels carrying 2.2 million barrels of Urals crude were signaling Jamnagar as their destination for early January delivery. The world's largest oil refining complex in Gujarat faces heightened scrutiny following US sanctions on Russian oil producers Rosneft and Lukoil since October 2025. (PC: Times Now)

Shares of major Indian tobacco firms fell sharply on January 1, 2026, after the government announced a new excise duty on cigarettes set to take effect from February 1. The finance ministry’s order imposes levies ranging from ₹2,050 to ₹8,500 per 1,000 cigarettes depending on length, on top of the existing 40% Goods and Services Tax, significantly raising costs for producers and smokers. ITC’s stock dropped over 4% and Godfrey Phillips fell around 8%, marking notable declines in the market as investors reacted to the expected impact on sales and profitability. The tax change is part of broader efforts to curb tobacco use and increase revenue. (PC: Reuters)

The Union Cabinet on 31 December 2025 approved a major relief package for debt-ridden telecom firm Vodafone Idea, freezing its adjusted gross revenue (AGR) dues of ₹87,695 crore and granting a five-year moratorium on payments. The dues will now be rescheduled for payment over a 10-year period from FY2032 to FY2041, with the Department of Telecommunications to reassess the frozen amount under audit guidelines. AGR liabilities for FY18 and FY19 remain payable under existing schedules. The move aims to bolster Vodafone Idea’s financial stability, protect the government’s stake, and maintain competition in the telecom sector. Shares fell sharply on the news. 

India has imposed a three-year import duty on select steel products to curb a rise in cheap shipments, mainly from China. The tariff will be 12 per cent in the first year, 11.5 per cent in the second, and 11 per cent in the third. The move follows complaints from local producers over a surge in low-priced imports that hurt domestic sales. India is the world’s second largest crude steel maker. The government had earlier placed a 12 per cent temporary duty for 200 days, which ended in November. An industry body had also sought anti-dumping action through the trade remedies office in August. (PC: India Today)

India is reportedly seeking over $30 billion in compensation from Reliance Industries Ltd (RIL) and its partner BP over alleged under‑production of natural gas from the D1 and D3 offshore fields in the KG‑D6 block of the Krishna‑Godavari Basin. Government submissions to a three‑member arbitration tribunal claim the companies failed to meet production targets, causing losses of gas and value. Final arguments concluded in November 2025, and a decision is expected by mid‑2026. However, Reliance has strongly denied any $30 billion claim, calling reports “factually incorrect”. 

Google and Apple warned H-1B visa holders against international travel due to embassy delays stretching up to 12 months. Immigration law firms BAL (Google) and Fragomen (Apple) issued memos cautioning employees that traveling abroad risks extended stays outside the US due to visa stamping appointment backlogs. The State Department confirmed embassies now prioritize thorough vetting over speed, implementing expanded social media screening for H-1B workers and dependents. Many Indian nationals had December appointments cancelled or postponed. Immigration attorney Jason Finkelman advised employees to "stay put" unless travel is essential. Both companies are monitoring the situation closely as disruptions could continue into 2025, urging staff to avoid non-essential international travel. (PC: India Today)

President Trump's $100,000 fee for new H-1B workers hired from outside the US will significantly impact IT outsourcing firms, particularly Tata Consultancy Services, Infosys, and Cognizant Technology Solutions. Bloomberg analysis reveals nearly 90% of these companies' new H-1B hires between May 2020-2024 were approved at US consulates and would face this fee. Infosys alone would have paid over $1 billion for 10,400+ workers (93% of new hires). Tata would owe fees for 6,500 workers (82%), while Cognizant faces charges for 5,600+ employees (89%). Industry experts predict the fee will drive jobs overseas, particularly to India, and could reduce lottery entries by 30-50% next year, despite legal challenges pending. (PC: Daily Excelsior)

Warner Bros Discovery's board is expected to reject Paramount's $108.4 billion takeover bid and recommend shareholders vote against the offer, potentially announcing the decision Wednesday. The company appears poised to recommit to Netflix's $72 billion cash-and-stock bid for Warner Bros' non-cable assets. Paramount CEO David Ellison countered with a $30-per-share all-cash offer for the entire company, financed by $41 billion in equity from the Ellison family and RedBird Capital, plus $54 billion in debt commitments. The winner will secure Warner Bros' extensive film and television library, including classics like Casablanca and contemporary hits like Harry Potter and Friends, along with HBO and HBO Max streaming service, a significant advantage in streaming wars. (PC: Pinterest)