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In the third quarter, SpaceX achieved a remarkable net profit of $4.4 billion, largely propelled by its flourishing Super Intelligence segment, which alone contributed $7.6 billion. The company's revenue skyrocketed by 161 percent to reach $14.6 billion, highlighting a significant rebound from the past year. Additionally, Starlink welcomed 1.6 million new subscribers, while capital expenditures surged to $19.6 billion, showcasing SpaceX's commitment to expanding its computing infrastructure.
Commodity prices are expected to experience volatility due to geopolitical conflicts and supply chain disruptions. Energy prices may rise sharply if Middle Eastern supplies remain constrained or degrade further. Agricultural markets could face pressure from various conflicts and potential weather disruptions linked to El Niño. Goldman Sachs anticipates significant price increases for copper and gold by 2027, driven by demand trends.
The State Bank of India has confirmed that 3,897 customer records may have been compromised and found on the dark web. Following alerts from cybersecurity agencies, an initial investigation revealed that sensitive personal data such as mobile numbers and loan details were involved. SBI has initiated its cyber incident response plan and is actively looking into the breach's validity and origins.
HDFC Bank is conducting an internal investigation into two senior executives for sharing confidential business information. The probe began after concerns were raised about potential information leaks to outsiders. As changes in leadership approach, the bank faces mounting challenges amid recent internal disagreements. Executive transitions include Anup Bagchi becoming the new chief executive later this month. The findings of this investigation will influence future decisions and strategies at the bank.
Jio IPO: Data from the stock exchanges, updated at 2:45 PM, showed bids for 46.50 crore shares against the 19.75 crore shares on offer. The response establishes a new record for the speed at which an Indian public issue has attracted subscriptions. The speed of Jio's IPO subscription sets it apart from other large public offerings in India.
India's coal-fired power plants are grappling with alarming fuel shortages, with almost half of them maintaining reserves for less than three days. This comes amid soaring electricity demand driven by rising temperatures and dwindling hydropower supplies. In response, the government has ramped up local coal production while pausing coal imports.
The best time to plan for capital gains tax is before you place a sell order. This year is a good time to revisit the rules. From April 1, 2026, the Income-tax Act, 2025 has replaced the 1961 law. Section numbers have changed and the law now uses the term tax year, but capital gains are taxed largely as before.