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The state’s preliminary estimate puts losses from Cyclone Arnab at Rs 4,600 crore, and Andhra Pradesh has sent it to the Centre. Chief Minister N. Chandrababu Naidu promised help for affected families, farmers and fishermen, with Rs 5 lakh for each family of someone killed. Power crews aim to restore supply by Saturday evening.
Spot gold reached $3,898.54 an ounce on Friday, its lowest price in a year, as silver stayed below $50. Investors are weighing stubborn inflation and strong US growth against the prospect of higher interest rates. The sell-off has also pushed Indian silver prices sharply lower, while traders watch for a possible December Fed hike.
Alphabet, Google’s parent company, lost $475 billion in one session, driving most of its $758 billion October market-value decline. Shares fell nearly 19% as investors weighed missed quarterly forecasts against costly AI expansion. Alphabet plans $195 billion to $205 billion in capital spending this year, mainly on AI data centers and computing equipment.
The Centre recorded a ₹7.14 trillion fiscal deficit in April-September, 42.1% of its FY27 target. Spending reached ₹25.5 trillion, while receipts were ₹18.35 trillion. ICRA economist Aditi Nayar warns that weaker tax growth and costly energy subsidies may strain the budget. The government must manage second-half spending and revenues to meet its target.
Blockchain analysis firms say North Korea’s TraderTraitor group likely stole $6.36 billion from Binance, the world’s largest crypto exchange. The firms point to similarities with earlier attacks, including the 2025 Bybit theft. Binance has not confirmed who did it. It says about $3 billion has been frozen and it will cover customer losses.
Six people were aboard a helicopter that crashed Friday near Joshimath, Uttarakhand. Rescuers have not reached the aircraft, and bad weather is slowing the search. Uttarakhand Chief Minister Pushkar Singh Dhami said teams are searching with drones and other aircraft. Officials have not confirmed anyone’s condition or the cause of the crash.
The concurrent sentences set a 10-year effective prison term for each lawyer. Prosecutors said human rights lawyers Imaan Mazari and Hadi Ali Chattha obstructed police during England’s 2024 cricket tour; both denied charges. UN judicial-independence expert Margaret Satterthwaite questioned the jail trial. Mazari’s mother says the family will appeal to Pakistan’s Supreme Court.
Saudi-led coalition forces reported two interceptions: a drone in the Riyadh region and a ballistic missile aimed at southern Saudi Arabia. The coalition did not identify the drone’s source. The reports come amid rising Houthi attacks and Saudi interceptions. Saudi air defenses face continued pressure across the kingdom as the Yemen conflict escalates.
Suzlon shares touched ₹33.21 on Friday, down nearly 10%, after results showed operating margins shrinking despite record deliveries. The company’s revenue rose 26% to ₹4,869 crore, but EBITDA stayed almost flat and its margin fell to 14.8%. The share fall puts pressure on Suzlon to turn its large order book into profitable deliveries.
Equitas Small Finance Bank shares fell another 17% on Friday, extending two-day losses to more than 27%. CEO P N Vasudevan said he is leaving after investor questions about his daughter’s NBFC persisted, despite no ongoing dealings between the firms. The board expects to complete succession, including regulatory approval, within three to four months.
Finance Ministry officials say a second round raised IDBI Bank’s sale price by Rs 3,917 crore. Congress leader Rahul Gandhi backed employees opposing the sale; an internal government note says bidder Fairfax’s first offer missed the Rs 94.42-per-share floor. The sale is expected to close by fiscal year-end amid scrutiny of process and worker protections.
The Mossad is joining Israel’s Shin Bet investigation into alleged foreign interference, with Qatar and Turkey under scrutiny. The probe comes as Prime Minister Benjamin Netanyahu’s bloc holds 53 of 120 Knesset seats, short of a majority. Officials have rejected claims of systematic election fraud. Final results go to President Isaac Herzog on November 4.
Floodwaters from Bhutan’s Shintaphu Lake damaged the Gasa Tshachu hot springs site, with two bridges possibly washed away. Bhutan’s broadcaster reported no casualties; darkness has delayed a full damage check. In India, 4,000 to 5,000 people entered shelters and more than 6,000 moved to safer ground. Teams remain on alert along the Sankosh.
Coinbase CEO Brian Armstrong says Coinbase is helping crypto exchange Binance block transfers to wallets linked to the breach. He also offered direct support. Binance says it will cover losses, while deposits and withdrawals remain paused; frozen assets total about $3 billion. Binance will reopen transfers after completing its security review and tracing the funds.
The European Central Bank’s deposit rate stays at 2.5%, while President Christine Lagarde says she will leave on February 7, 2027. Energy prices are raising inflation risks, but tighter borrowing conditions may also slow growth. The ECB’s next decisions will depend on new data, with markets watching for a possible December hike.
A UN survey found Afghan poppy cultivation reached more than 43,000 hectares in 2026, while opium production rose 400%. Poverty is pushing farmers to grow poppies secretly after legal crops failed to provide enough income. The UN says livelihood support and better farm infrastructure are needed to prevent further growth.
Separate Russian attacks killed one person in Kyiv and left up to 350,000 people without power around Dnipro. Ukrainian officials said emergency cuts followed damage to the region’s energy system, while crews worked to restore electricity. The outages threaten homes and essential services as winter approaches, after a drone strike killed railway passengers Thursday.
Customers may recover losses when banks fail required checks, under rules India’s top court wants strengthened. It wants banks to pause unusual transfers, flag suspicious payments automatically and compensate customers when investigations establish bank failures. The Reserve Bank of India, the central bank, must file draft rules by November 30, effective by year-end.
Congress candidate Abhijeet Wanjari defeated BJP candidate Sudhakar Kohale in Nagpur by 3,271 votes. The opposition Maha Vikas Aghadi won three of five Maharashtra Legislative Council seats; Mahayuti took two. BJP spokesperson Navnath Ban accused ally Shiv Sena of failing to support the coalition. Mahayuti leaders are expected to meet over the setback.
More than 59,000 people have been evacuated as heavy rain floods southern Odisha, while Coast Guard crews rescue stranded people. The rain followed Cyclone Arnab’s landfall in Andhra Pradesh and swamped villages, roads and homes. Floods also stranded 20 seamen aboard a ship. Rescue teams face cut-off communities as officials work to restore access.
The 4.5%-fat milk will cost ₹60 per litre, up from ₹52, as Karnataka raises Nandini prices. Farmers receive ₹7 of the ₹8 increase, while milk unions get ₹1. The government says higher costs and drought-hit production drove the decision. The new price starts November 1, adding to household and business costs.
On 7 February 2027, Christine Lagarde will leave the European Central Bank about nine months before her term ends. Her early departure gives European Union leaders time to choose a successor before France’s presidential election next spring. The choice will shape who leads the bank through difficult decisions on inflation, interest rates and growth.
An affidavit from the NCLT Bar Association reports 253 vacancies among 320 permanent administrative posts. Filed October 27, it says 13 of 31 courts sit full days, while 18 hold half-day hearings. It flags damage at Delhi premises; the Supreme Court directed NCLT and NCLAT presidents to submit plans within four weeks.
England made 386 for 5 after opener Ben Duckett struck 167, then beat Sri Lanka by 55 runs. Liam Dawson took four wickets as Sri Lanka’s chase ended at 331, despite Pavan Rathnayake’s century. England’s win ends a three-match losing run, but Sri Lanka advance to Saturday’s final against Pakistan.
Judge Rino Francis must appear for questioning at 1 pm after the Kerala High Court barred his arrest until further orders. The court said custodial questioning did not appear necessary and directed him to cooperate. Francis is accused in a case involving his 17-year-old son and a fatal Mercedes crash. The investigation continues.
The US central bank Federal Reserve held rates steady overnight, lifting Sensex 168 points in Thursday’s early trade. Nifty gained 45 points as $114.50 oil and higher US bond yields kept investors cautious. IT and pharma led gains; private banks and media fell. Next, investors watch earnings and whether Nifty holds above 22,800.
Congress candidate Abhijit Wanjari won Nagpur’s MLC seat by 3,271 votes, giving the opposition MVA three of Maharashtra’s five seats. BJP rival Sudhakar Kohale had led during early counting, but second-preference votes shifted the result. The win came in the home city of Chief Minister Devendra Fadnavis. Wanjari also renewed calls to end EVM voting.
Alphabet shares fell more than 10% after quarterly earnings missed forecasts, despite Google Cloud revenue doubling to $30.7 billion. The Google parent reported $9.06 billion in negative free cash flow as it spent heavily on AI and data centers. Investors will watch its advertising outlook and whether cloud growth can justify rising investment.
Azure brought in $33.17 billion in the July-to-September quarter, growing 48% from a year earlier. Microsoft disclosed the cloud unit’s revenue in dollars for the first time, as demand for computing still outstrips available supply. The company expects Azure growth to reach 49% to 50% next quarter, while spending on infrastructure rises.
The 10-2 vote left the Fed’s key rate at 3.75% to 4%, while two officials backed a quarter-point increase. Governor Lisa Cook dissented for the first time, alongside Cleveland Fed President Beth Hammack, as inflation remained elevated. Chair Kevin Warsh’s news conference is the next test for investors seeking clues about December.