OPEC+ Oil Production Increase OPEC+ agreed to boost oil production by 411,000 barrels per day in June 2025, following a similar increase in May, totaling over 800,000 bpd. Saudi Arabia led the decision to discipline overproducers like Iraq and Kazakhstan. Amid Trump’s tariffs and recession fears, the move aims to stabilize markets but risks further…

Berkshire Hathaway New CEO: Greg Abel Takes Helm Greg Abel will succeed Warren Buffett as Berkshire Hathaway’s CEO on January 1, 2026, with Buffett remaining chairman. Abel, long groomed for the role, faces challenges maintaining the conglomerate’s $1 trillion valuation amid economic uncertainties. His focus on energy and insurance sectors, alongside a robust Q1 2025,…

Union Bank of India Vacancy Details Union Bank of India announced 500 Specialist Officer vacancies, including Assistant Manager roles, with applications open until May 20, 2025. The recruitment targets dynamic professionals, offering opportunities in various managerial positions. Candidates with B.Tech, MBA, or MCA qualifications are encouraged to apply. This follows earlier 2024 hiring drives for…

US Ukraine Minerals Deal Impact The US-Ukraine minerals deal, signed April 30, 2025, creates a Reconstruction Investment Fund, giving the US access to Ukraine’s minerals, oil, and gas. Ukraine contributes 50% of new project revenues, while future US military aid offsets investments. The deal sidelines the EU and limits Russia’s role, but ambiguities over Russian-held…

Wage Hike Delay Frustrates Staff Tata Consultancy Services (TCS) deferred its annual wage hikes, typically starting April, and cut senior employees’ variable pay by 70–80% for Q4 FY25, citing macroeconomic uncertainties and U.S. tariff concerns. Senior staff received only 20–30% of their quarterly variable allowance, linked to office attendance policies. TCS plans to hire 42,000…

ONDC Struggles with Adoption India’s Open Network for Digital Commerce (ONDC) faces challenges as retail orders dropped from 6.5 million in October 2024 to 4.6 million in February 2025. The NRAI paused integration due to instability. High-level exits, reduced incentives, and a cumbersome user experience (54% find it complex, per LocalCircles) hinder growth. Despite 62%…

SBI Bank Q4 Results Analysis State Bank of India’s Q4 FY25 results, announced May 3, 2025, showed a 10% drop in net profit to ₹18,643 crore from ₹20,698 crore, due to higher provisions. Net interest income was flat at ₹42,774 crore. Asset quality improved, with gross NPAs at 1.82% and net NPAs at 0.47%. SBI…

Why Chandra Holt Deals Cost Kohl’s CEO Job Ashley Buchanan was fired as Kohl’s CEO after four months for undisclosed business deals with romantic partner Chandra Holt. An investigation revealed Buchanan favored Holt’s ventures, including a multimillion-dollar consulting deal and favorable vendor terms, breaching Kohl’s ethics policy. Holt, formerly of Walmart and Bed Bath &…

JSW Steel Shares Crash The Supreme Court rejected JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power and Steel on May 2, 2025, deeming it illegal and ordering liquidation. JSW’s shares dropped over 7%, reflecting market concerns. The plan, approved in 2019, offered ₹19,350 crore to financial creditors and ₹350 crore to operational creditors. JSW,…

Tariff on China Impacts Apple Apple CEO Tim Cook announced that most iPhones sold in the US will originate from India by June 2025, with Vietnam supplying iPads, Macs, and AirPods, to mitigate a 145% tariff on China imports. This shift follows a $900 million cost projection for Q2 2025 due to tariffs. While China…