Recent reporting, background, and summaries from the business desk.
India achieved a monumental energy milestone, adding a record 52,537 MW of power generation capacity in the current financial year by January 31, 2026. This unprecedented expansion, predominantly from 39,657 MW of solar and wind, has boosted India's total installed capacity to 520.51 GW, with non-fossil fuels now surpassing fossil fuel sources.
Wall Street experienced sharp drops as technology stocks declined and Bitcoin's value plummeted by half, sparking widespread investor apprehension. This significant market downturn is primarily fueled by concerns over artificial intelligence's return on investment and its potential to disrupt established business models.
Democratic U.S. senators are demanding a Pentagon review of SpaceX, fearing potential national security risks from alleged secret stakes acquired by Chinese investors. This urgent request, made on February 5, 2026, highlights escalating congressional concerns over foreign influence in vital U.S. aerospace and defense technology companies.
Global markets experienced a significant downturn on February 2, 2026, fueled by escalating concerns over US interest rates and the potential for an artificial intelligence stock bubble. This widespread rout, intensified by President Trump's nomination of Kevin Warsh to lead the Federal Reserve, led to sharp declines across Asian shares, precious metals, and technology stocks.
India's Finance Minister Nirmala Sitharaman presented the Union Budget for fiscal year 2026-27, emphasizing sustained economic growth and fiscal consolidation with an estimated fiscal deficit of 4.3% of GDP. The budget significantly boosts public capital expenditure to an unprecedented ₹12.2 lakh crore for FY27, an 11.5% increase, aiming to drive infrastructure development, job creation, and strengthen key sectors like manufacturing and MSMEs towards the "Viksit Bharat" vision by 2047.
Precious metals experienced a dramatic sell-off on Friday, January 30, 2026, with gold seeing its largest single-day decline since 1983 and silver plunging over 30%, following President Donald Trump's nomination of Kevin Warsh to lead the Federal Reserve. This sharp market movement reflected investor reassurance over Warsh's selection, alongside a surging US dollar, as he is viewed as a credible and orthodox choice for the crucial central bank role.
Wall Street celebrated a historic day as the S&P 500 index soared past 7,000 points for the first time, fueled by robust optimism in artificial intelligence and strong earnings expectations from leading technology companies. Concurrently, Elon Musk's SpaceX is reportedly eyeing a monumental $1.5 trillion initial public offering in June, aiming to raise $50 billion and potentially becoming the largest IPO in history.
New Zealand's Supreme Court has delivered a landmark ruling, unanimously declaring four Uber drivers as employees rather than independent contractors, granting them access to vital employment benefits like minimum wage and paid leave. This pivotal decision, made on November 17, 2025, sets a significant precedent for the nation's gig economy, challenging existing classification models and potentially paving the way for thousands more workers to gain full employment rights.
A highly virulent new variant of African Swine Fever is rapidly spreading across Europe, triggering widespread culling and sharply increasing global pork prices. This alarming outbreak is escalating global food security concerns, with experts warning of sustained inflationary pressures and potential protein shortages if the disease isn't swiftly contained.
Global stock markets experienced significant gains today, driven by new data indicating inflation is cooling faster than anticipated. This surge, coupled with hints of potential interest rate cuts from central banks, has reignited investor confidence and signals a possible end to the monetary tightening cycle.
The European Central Bank (ECB) announced today, January 20, 2026, its decision to maintain benchmark interest rates at current levels, a widely anticipated move driven by persistent inflationary pressures across the Eurozone. This "higher for longer" approach underscores the bank's commitment to achieving its 2% inflation target, meaning businesses and consumers will continue to face elevated borrowing costs as policymakers balance price stability with economic growth.
US retail sales in May 2024 barely budged with a 0.1% increase, significantly missing economists' 0.3% projections and signaling a concerning slowdown in consumer spending. This unexpected sluggishness suggests a cooling economy and will likely influence the Federal Reserve's crucial upcoming interest rate decisions.