Hindustan Aeronautics Limited is imposing contractual penalties on GE Aerospace for missing multiple deadlines for supply of F404-IN20 engines for powering Tejas LCA Mark1A. Of the overall 99 engines, GE has supplied 5 engines and the 6th is on its way. The delivery, which was supposed to start in 2023, got delayed and the first engine was supplied last year.

Tata Sons Chairman N Chandrasekaran has advised CEOs and senior executives of Tata Group companies to brace for a tougher business environment amid the Middle East war. According to PTI, supply chain disruptions and rising commodity prices could weigh on demand and delay projects. He also urged executives to re-examine the project timelines, if necessary.

Government has put on hold an order mandating that at least 60% seats in any flight will be offered free of charge. "The matter has been reviewed in light of representations received from the Federation of Indian Airlines and Akasa Air, highlighting operational and commercial implications of the provision," the new order said.

The Reserve Bank of India has allowed residents, along with non-residents, to exchange rupee notes at foreign exchange counters in departure halls of international airports. Earlier, the facility was limited to non-residents. The exchanges will be available at counters located in duty-free or security hold areas beyond the immigration or customs desk, according to a notification.

Nina Lewis, who worked at Oracle for nearly 34 years, was fired in the recent layoffs affecting 30,000 people. "It seems layoffs follow an algorithm of high-level individual contributors and mid-level managers, especially those with outstanding stock options," she said on LinkedIn. She added that her firing was quite a shock, and many of her best colleagues were fired too.

India has sufficient crude oil stocks, with supplies secured for the next 60 days, the Ministry of Petroleum and Natural Gas said. Additionally, eight states/UTs have received an additional 10% allocation of commercial LPG for promoting PNG expansion. About 2,90,000 new PNG connections were added in the past month, with 3,61,000 more registrations, Joint Secretary Sujata Sharma said.

CEO of Flipkart-owned Myntra, Nandita Sinha, is set to step down, with Flipkart Fashion head Sharon Pais likely to take over, Moneycontrol reported, citing sources. Her exit comes ahead of Walmart-owned Flipkart's IPO, scheduled for late 2026 or early 2027. Sinha joined Flipkart in 2013 and was made Myntra's CEO in 2022. Her next move is not known for now.

The Income Tax Act, 2025, came into force on Wednesday, replacing the six-decade-old Income Tax Act, 1961. The new Act contains 536 sections and 16 schedules, compared to 819 sections and 14 schedules in the older law. It aims to reduce complexity by incorporating explanations into the main text, using tables and replacing the term "previous year" with "tax year".

Tesla's China-made electric vehicle sales jumped nearly 9% in March compared to last year. Data from the China Passenger Car Association showed sales reached 85,670 units. On a sequential basis, sales rose 46% from February. This marks the fifth straight month of year-over-year growth for Tesla in the segment.

AleAnna (ANNA) surged 20% in pre-market trading as escalating Iran tensions boosted energy plays. The move comes as President Trump signalled a continued US military offensive in the region, overriding market optimism about a swift resolution. Investors are seeking safety in diversified energy holdings. US stocks fell and oil prices spiked over $106 a barrel.