Tata Sons has approved a fresh five-year term for Executive Chairman N. Chandrasekaran, reversing his earlier decision not to seek reappointment after his current tenure ends in February 2027. The decision was approved by a majority of the board despite opposition from Tata Trusts Chairman Noel Tata. The development comes amid disagreements between Tata Sons and the trusts over leadership and the company’s potential stock-market listing. The board has also decided to initiate steps to comply with applicable Reserve Bank of India (RBI) guidelines and consider a public listing. Chandrasekaran has led Tata Sons since 2017. (PC: Reuters)

Tata Sons' board has approved a fresh five-year term for N Chandrasekaran as executive chairman, reversing his August decision not to seek renewal, the Economic Times reported. The three-hour Mumbai board meeting also cleared the process to list the group holding company, after the RBI rejected Tata Sons' bid to stay private and ordered an immediate listing. Noel Tata, chairman of Tata Trusts, voted against Chandrasekaran's reappointment, but the majority of the board backed the decision. Chandrasekaran, chairman since 2017, was due to step down in February 2027. Tata Group shares, led by Tata Chemicals, rallied on the news. (PC: HT)

Traders are worried about the new 0.4% Merchant Discount Rate (MDR) on certain UPI payments above ₹2,000. Several market groups said the charge could increase costs for businesses. Some traders warned they may encourage customers to pay in cash, especially during the festive season. The government has said customers cannot be charged the MDR. Small merchants earning up to ₹1 lakh a month through UPI QR codes will also remain exempt. The government estimates about 96% of merchant transactions will continue to have zero MDR. Traders, however, fear the new charge could make digital payments less attractive.  

New Zealand’s Parliament has passed legislation to implement its Free Trade Agreement (FTA) with India, bringing the trade pact closer to taking effect. The bill passed 93-29, with support from the opposition Labour Party. Under the agreement, tariffs on around 95% of New Zealand exports to India will eventually be eliminated or significantly reduced, while all Indian goods will get duty-free access to New Zealand. More than half of the covered New Zealand products will become duty-free from the first day. New Zealand has also committed to invest NZ$20 billion in India over the next 15 years. The agreement was signed in April. (PC: HT)

Oracle began a new round of layoffs on Tuesday, sending termination emails to employees at around 6 am local time, citing "broader organisational change." Reports suggest the cuts could affect up to 30,000 employees globally, including around 12,000 in India, across the US, Canada, Mexico and other countries. Some workers lost system access and badge entry before receiving formal notice. The email said the recipient's role was eliminated and that day was their last working day, with severance subject to company terms. The layoffs come as Oracle ramps up spending on AI data centre infrastructure. Oracle has not officially commented on the total numbers. (PC: X)

Crude oil prices surged more than 3% as strikes on Saudi Arabian energy infrastructure and attacks on ships in the Middle East intensified supply concerns. Brent crude futures rose $3.21, or 3.1%, to $107.82 per barrel by 1218 GMT, after reaching $108.65. US WTI futures gained $2.77, or 2.8%, to $102.82. Oil prices have climbed around 9% in a week as Middle East attacks intensified. Brent has remained above $100 a barrel for the first time since July and reached its highest level since May, at around $110. Meanwhile, India’s retail inflation increased to 4.82% in August, driven by higher food prices, while the Consumer Food Price Index stood at 5.95%. (PC: Times Now)

Oil prices jumped more than 2% on Monday after fresh Houthi strikes on Saudi Arabia and Iranian attacks on ships intensified supply concerns. Brent crude futures rose $2.90, or 2.77%, to $107.51 a barrel, while WTI gained $2.27, or 2.27%, to $102.32. A vessel in the Strait of Hormuz was hit by a projectile, causing a fire and forcing its crew to evacuate, while Iran said one person was killed and four crew wounded aboard a commercial vessel. Saudi Arabia’s East-West oil pipeline, which helps reroute exports around Hormuz, was shut after a drone strike. Its loss threatens up to 4% of global oil supply, while disruptions pushed prices above $100.  

The Dorchester hotel has secured a court order to sell a car belonging to Sheikh Nasser bin Abdullah al-Thani, a member of Qatar’s ruling family, after he accumulated an unpaid bill of £458,000. The five-star Mayfair hotel sued him in March over unpaid room charges, other expenses and interest. A London County Court ruled in July that al-Thani owed £198,180.33 plus £3,266.89 interest and another £256,627.86. The court also authorised the sale of his 2011 Fiat 500 Abarth Tributo Ferrari, though its estimated resale value of £23,500 would cover little of the debt. Al-Thani’s lawyers dispute the claim, saying he was not properly served and will seek to overturn the judgment. (PC: Chris Mouyiaris/Dreamstime)

Apple will price its folding iPhone Duo from $1,999, with the top-spec model reaching $3,199, as chief executive John Ternus unveiled the company’s biggest smartphone shake-up in nearly 20 years. The Duo folds out to a screen almost as large as an iPad Mini and is Apple’s first foldable iPhone, arriving years after rivals Samsung and Huawei entered the market. Ternus said the device would redefine foldable-phone experiences. Wider price increases were less than some analysts had feared. The annual launch at Apple Park in Cupertino is crucial because iPhones generate half of Apple’s revenue. The event was Ternus’s first major public appearance since replacing Tim Cook last week. Cook attended.

Oil prices crossed the $100-a-barrel mark on Wednesday as fresh attacks on Middle Eastern oil facilities and tankers intensified concerns over global supplies. Brent crude rose 2.57% to $100.40 a barrel, while US West Texas Intermediate (WTI) gained 2.10% to $94.98, marking Brent’s return above $100 for the first time in nearly six weeks. The surge followed a US military strike on five Iranian tankers after attempted missile attacks on a Navy warship, alongside Houthi attacks that set Saudi oil facilities on fire. The conflict escalated further after Iran launched missiles toward US targets in Jordan, with the Revolutionary Guards claiming attacks on two US destroyers and a US base. (PC: Reuters)