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Asia
The Hindu BusinessLine

West Bengal may replace student mobile phone grants with education tablets

West Bengal Chief Minister Suvendu Adhikari indicated that the state may replace financial assistance for students to buy mobile phones with grants for education-related tablets. | Photo Credit: ANI West Bengal Chief Minister Suvendu Adhikari on Tuesday indicated that the state government may discontinue its financial assistance to school students for purchasing mobile phones and replace it with grants for buying education-related tablets. Adhikari expressed concern at reports of unbridled use of mobile phones by school students and said the trend is causing “irreparable damage” to the younger generation. He was speaking at a programme at Byantra in Howrah to launch the ‘Sarathi’ scheme for distributing bicycles to students, replacing the erstwhile ‘Sabuj Sathi’ project initiated by the TMC government. “I am severely opposed to students using mobile phones in schools. This is causing irreparable damage. We are giving this matter serious thought,” he said, with School Education Minister Dipak Burman and Higher Education Minister Jagannath Chattopadhyay in attendance on the dais. “The previous government used to give Rs 10,000 to class 11 students in January to purchase mobile phones. I have already asked the state education secretary and am saying this to the minister as well: start thinking about the matter from now. We can provide more funds, if required, with which we will provide education-related tablets instead of mobile phones,” Adhikari added. This wasn’t the first time that Adhikari expressed his displeasure over the use of mobile phones by school students. At an event on September 5 to mark Teachers’ Day, the chief minister had said, “Mobile phones have a significant negative impact on school students. It may be a difficult decision, and I may even lose votes because of it.” In Gujarat, mobile phones are banned for students up to Class 12, and they remain awake watching mobile phones even after their parents go to sleep, he had said. On Tuesday, Adhikari said that failure to bring about this reform will lead to not being able to build future generations in the right manner. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

West Bengal may replace student mobile phone grants with education tablets
Asia
The Hindu BusinessLine

Flipkart adds 14 million cubic ft warehouse space, 750 PIN codes ahead of festive season

E-commerce marketplace Flipkart on Tuesday announced an expansion of its logistics network, adding 14 million cubic feet of warehousing space and extending its delivery footprint to over 750 new PIN codes ahead of the upcoming festive season. The expansion by its logistics arm, Ekart, has increased overall storage capacity by 50 per cent nationwide, while technology and automation upgrades have raised peak processing capacity by more than 30 per cent ahead of the upcoming festive season and its flagship sale -- 'The Big Billion Days', the company said in a statement. To meet rising demand for same-day and next-day deliveries, Flipkart has set up over 900 additional delivery hubs. With this addition, Ekart's infrastructure now comprises over 8,200 facilities across India, which include fulfilment centres, sortation hubs, and last-mile delivery units, alongside nearly 1,200 'Flipkart Minutes' microfulfilment centres operational across 150-plus cities. To manage the festive surge, the Walmart-backed e-commerce major had earlier announced the creation of more than 2.5 lakh direct and indirect seasonal employment opportunities, of which nearly 75,000 are targeted at first-time job market entrants. Approximately 60 per cent of these roles are in last-mile delivery operations, driven by the expansion of quick-commerce service Flipkart Minutes in Tier 2 and Tier 3 markets. "This year, a customer in Leh or Kargil will experience Big Billion Days for the first time. Across Ekart and Flipkart Minutes, we now operate over 8,200 facilities, allowing us to take the festive experience to more customers while helping sellers reach buyers they could not reach before," said Hemant Badri, Senior Vice President and Head of Supply Chain, Flipkart Group. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Flipkart adds 14 million cubic ft warehouse space, 750 PIN codes ahead of festive season
Asia
The Hindu BusinessLine

ABSLAMC launches industry’s first BSE Total Market Index Fund, NFO opens September 30

The fund will track the BSE Total Market Index, giving investors exposure to approximately 93 per cent of India’s total market capitalisation across large, mid, small and micro-cap segments. The index comprises stocks representing 98 per cent of the BSE AllCap Index’s market capitalisation, with a minimum of 1,000 constituents and no upper cap, a structure designed to expand as more companies list on Indian exchanges. Current allocation stands at 56 per cent large-cap, 20 per cent mid-cap, 10 per cent small-cap and 7 per cent micro-cap, spanning 22 sectors. The index rebalances semi-annually in June and December, with weights based on free-float adjusted market capitalisation. Managing Director and CEO A. Balasubramanian said the fund addresses investor confusion arising from an expanding universe of investment choices. “...why make the difficult decision to choose a slice when you can participate in getting the whole pie?...” he said at the launch event in Mumbai. The fund’s passive investment structure means expense ratios will be lower than actively managed funds. Historical rolling return data cited at the launch showed the BSE Total Market Index has delivered approximately 50 basis points of additional annualised return over the BSE 500, and around 150 basis points over the Sensex, without a significant difference in standard deviation. The index has posted a CAGR of 13.82 per cent over 20 years. Hemen Bhatia, Head of Passives at ABSLAMC, who co-introduced India’s first banking ETF in 2006, noted the index’s adaptive design sets it apart from numbered indices such as the Nifty 50 and Sensex, whose market-cap coverage has declined over time as India’s equity market expanded. “...the index will endeavour to remain faithful to the word ‘Total’...” he said. ABSLAMC currently manages overall AUM of ₹6,279 billion as of June 30, 2026. The firm has built a dedicated passives team, separate from its active fund management operations, to support the business. Passive funds in India have grown from ₹1.6 lakh crore to ₹15.5 lakh crore over the past six years, with passive investors now accounting for approximately 19 per cent of total mutual fund folios. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

ABSLAMC launches industry’s first BSE Total Market Index Fund, NFO opens September 30
Europe
BBC Business

Vet prescription fees capped under rule changes

Image source, Getty ImagesByMitchell Labiak, Business reporter and Jim Connolly, BBC News InvestigationsPublished4 hours agoWritten prescription fees from vets will be capped at £21 as part of a raft of changes that practices will be legally required to bring in over the coming months. Vets must also tell clients if cheaper medicine is available online, write price estimates ahead of treatment, and publish price lists for services as part of the rule updates. The official competition watchdog has brought the measures into force after its investigation into the sector found prices had been rising at nearly twice the rate of inflation. However, critics say the measures will hit independent vets hardest and will benefit the six firms that own more than two-thirds of practices. The Competition and Markets Authority (CMA) made its remedies for the sector legally binding as of Tuesday and vets have up to 12 months to bring all the changes in. A written estimate must be provided in advance for any treatment expected to cost £500 or more, including aftercare costs, plus an itemised bill. Emergencies are the only exception to this To help pet owners compare local practices, price and ownership information will be made available through the Royal College of Veterinary Surgeons' "Find a Vet" service, which will share the data with third-party comparison sites. The timelines for when vets need to bring in the fixes depends on the exact regulation and the group's size. The CMA sets it out here., external "The changes that are being required are changes that will help inform pet owners about prices," said CMA panel chair Martin Coleman. However, Cate Titterton, the owner of an independent vet service in Saltburn, told BBC Your Voice the changes will make trips to the vets more expensive for customers. "Veterinary practices still have to have a pharmacy that is fully stocked, so if we're not making that tiny profit on the drugs, we're going to have to make some profit elsewhere. "So, things like services, consultations, surgeries – unfortunately, those prices are very, very likely to have to go up."

Vet prescription fees capped under rule changes
Asia-Pacific
The Straits Times

Vitol told Deutsche Bank AG that Radiant World contracts with CFO’s signature were fake

Bloomberg reported in July that top traders including Vitol had halted business with Radiant World amid concerns that it had supplied banks with fake documents to obtain loans. Vitol Group told Deutsche Bank AG in early August that contracts with Radiant World purportedly signed by Vitol’s chief financial officer were not real, according to a court ruling in Singapore. The confirmation from energy and commodities company Vitol was one of the key factors that led Deutsche Bank to conclude that it had likely been defrauded by Radiant World, according to an order by the judge who on Sept 24 placed Radiant under interim judicial management. The ruling sheds further light on lenders’ efforts to assess and contain their exposure to Radiant World after Bloomberg reported in July that top traders including Vitol had halted business with the iron ore trader, amid concerns that it had supplied banks with fake documents to obtain loans. Details in the ruling show how Deutsche Bank had got in touch with Vitol and natural resources company Glencore following the story to check the veracity of documents underpinning loans it had extended to Radiant World earlier in 2026. The German bank had purchased seven receivables from Radiant that were backed by invoices showing purported sales of iron ore to the two trading houses. But in exchanges in early August, Vitol told the bank that it had no records of six of those invoices in its system. Moreover, contracts Radiant World had provided showing the name and signature of Vitol’s chief financial officer, Jay Ng, had not been executed or authorised by him, according to the judge’s ruling, which was made following a petition by Mizuho Bank, another lender to Radiant. Vitol also told Deutsche Bank on Aug 4 that documents provided by Radiant World to the bank as evidence of Vitol’s assent to the transactions “were all false”, the judge said. A day later, Deutsche Bank notified Radiant World that it had reasonable grounds to believe that three of the Vitol transactions were false or fraudulent, and demanded that Radiant repurchase the relevant receivables for about US$48.6 million (S$62.1 million). It also transferred about US$11.25 million of funds held in Radiant World accounts to Deutsche Bank’s Singapore subsidiary. On the same day, Deutsche Bank was also notified by Glencore that paperwork submitted by Radiant World referenced a transaction that had happened, but with different dates and under contractual terms that did not allow for Radiant to use the deal to raise finance elsewhere.On Aug 7, Deutsche Bank demanded repayment of the remaining four receivables from Radiant World, saying it believed the Vitol receivables were false or fraudulent, and the Glencore receivable did not exist. Radiant World via its lawyers denied Deutsche Bank’s allegations that the documents it had sent were false. It has repeatedly denied wrongdoing. A spokesperson did not respond to a request for comment. A spokesperson for Deutsche Bank declined to comment on the order, but referred to an earlier statement noting that it has a maximum exposure to Radiant World of US$102.59 million, and is pursuing all available recovery options.

Vitol told Deutsche Bank AG that Radiant World contracts with CFO’s signature were fake
Europe
The Guardian

Trump bans CNN, MS Now and Politico from White House

Trump speaks to the press onboard Air Force One in August. Photograph: Aaron Schwartz/AFP/Getty ImagesView image in fullscreenTrump speaks to the press onboard Air Force One in August. Photograph: Aaron Schwartz/AFP/Getty ImagesDonald TrumpTrump bans CNN, MS Now and Politico from White HousePresident has overseen an unprecedented restriction of access for major news media since start of second term In his latest attack on the US constitution’s first amendment and the press, Donald Trump abruptly announced that he is banning outlets CNN, MS Now and Politico from the White House over their coverage. In a post on his Truth Social platform on Friday, the US president said he was expelling the news outlets “effective immediately” over what he called their “constant ‘reporting’ FAKE NEWS!” and threatened that bans for others outlets could follow. He went on: “Media Outlets shouldn’t be able to constantly write or report FICTION and LIES when they’re covering the President of the United States, the Trump Administration, or the United States of America. Other Fake News Media Outlets to follow.” Trump defended the ban at an Oval Office event to promote his administration’s healthcare policies. “I don’t get fair press. I get it from Breitbart. I get it from a little bit from Fox,” Trump told reporters, referring to friendly media outlets. “But what I do ask is just a semblance of truth.” Reminded by one reporter that every president takes an oath to uphold the constitution, including the first amendment right to free speech, Trump said: “You get so tired of reading and seeing fake news.” He added: “I don’t think that a court should allow fake news to be written day after day after day. I think that somebody has a right to keep them away if they’re going to write false stories all the time.” Towards the end of a chaotic news conference, when a reporter asked Trump to explain how his ban on the three outlets would work, the president expressed confusion. “When you say ‘the ban’, which ban? Do you know how many bans I’m involved in?” Trump asked, seeming confused. After another correspondent rephrased the question, asking, “What do you envision the bans would look like on the media outlets?” On Friday, the Washington Post reported that more American service members have died in the war on Iran than the Pentagon has publicly disclosed; CNN revealed that an “entirely false” intelligence report about a Chinese ship in the Middle East generated with the help of artificial intelligence (AI) had “almost started a war”; while a Politico report uncovered a Hill investigation after sensitive F-35 fighter jet technology unexpectedly made its way to Hong Kong, possibly giving China access to them. Trump said his decision to ban the three outlets was unrelated to the stories. “It’s really just cumulative stories over the last few years,” he said, before threatening more media prohibitions could follow.

Trump bans CNN, MS Now and Politico from White House
Europe
The Guardian

Plan for editorial oversight board at CNN and CBS News draws skepticism: ‘Utter garbage’

An editorial oversight board must be set up within 180 days after the closing of the merger deal between Paramount and Warner Bros Discovery. Photograph: Kevin Carter/Getty ImagesView image in fullscreenAn editorial oversight board must be set up within 180 days after the closing of the merger deal between Paramount and Warner Bros Discovery. Photograph: Kevin Carter/Getty ImagesCNNPlan for editorial oversight board at CNN and CBS News draws skepticism: ‘Utter garbage’Some network employees and media-watchers have questions and concerns about how arrangement will work Leading media figures and insiders dismissed plans to create an editorial oversight board to protect CNN’s independence as “utter garbage” – in one staffer’s words – after a settlement was reached to resolve a lawsuit filed by a coalition of 12 states to block Paramount’s $110bn acquisition of Warner Bros Discovery. California’s attorney general, Rob Bonta, during a press conference to announce the settlement, said that Paramount “must establish a news editorial independence board to support CBS News and CNN’s continued editorial independence to ensure independent, objective, fact-based reporting at CBS News and at CNN”. In a legal motion to formally end the case, the companies said the news editorial independence board would “establish guiding editorial and journalism principles for the combined entity’s news channels”. According to the terms of the settlement, the board must be established within 180 days of the closing of the deal. It will be composed of five current or former journalists with at least 10 years of experience each and will be appointed by the board of the company for three-year terms. The board will be tasked with “resolving any disputes between CBS News employees, CNN employees and management of the combined entity regarding alleged violations of the news editorial principles”; “resolving any disputes between CBS News employees, CNN employees and management of the combined entity regarding alleged reporting bias or failure to meet agreed reporting fairness standards”; and “establishing and monitoring adherence to ethical journalism as defined by journalism industry best practices and to editorial independence, including from the combined entity’s ownership and shareholders”. Critics of the mega-merger had expressed concerns about CNN being taken over by the Ellison family, which has well-documented connections to the Trump administration. David Ellison and his father, Larry Ellison, have reportedly spoken with the White House about potential changes they might make at CNN, which could ultimately generate more positive coverage of the Trump administration, a prospect that has worried journalists at the cable news network. On Monday afternoon, there was already some skepticism within the media industry – including from current and former employees at the companies involved in the deal – about whether the editorial oversight board would actually protect CNN’s editorial integrity. “There is no way that is going to work,” former CNN anchor Jim Acosta said. “They will start to fire anchors and certain folks to send a message, and the rest will either have to fall in line or leave. This was a colossal mistake.” “I’m happy to hear more about this, but how a board works day to day is tough to wrap my head around,” said a CNN producer who was not authorized to comment. Jessica J González, the co-chief executive of the advocacy organization Free Press, expressed doubts about the effectiveness of an oversight board. “As we learned from the failed and widely panned Facebook oversight board, a fake bipartisan oversight committee won’t save CNN,” she said in a statement on Monday. “We have all the evidence we need from the Ellisons’ destruction of CBS about what they do to warp journalism at Donald Trump’s request.”

Plan for editorial oversight board at CNN and CBS News draws skepticism: ‘Utter garbage’
Europe
BBC Business

Spain battles climate change on several fronts

In a small green meadow in the Gredos mountains, west of Madrid, a couple of dozen cows belonging to Juan Ángel Izquierdo and his family are grazing. The only noise is the gentle clang of the bells around the animals' necks. This would be an idyllic scene were it not for the blackened pine and oak trees all around, the legacy of a devastating recent wildfire. "It was immense, I've never seen anything like it," says Izquierdo, whose family have been farming here for 200 years. The fire, in late July, merged with two others, burning a total of around 80,000 hectares (200,000 acres), making it the biggest blaze Spain has ever registered. It consumed more than two-thirds of Izquierdo's land and killed 12 of his 85 cows. Another eight animals had to be put down because of their injuries. All the hay he had gathered to feed his cows in the winter was also burned. "For us farmers, the summers are becoming more and more worrying, because they are getting hotter," he says. "It rains less, the wet season ends earlier and the autumn starts much later." "If you don't think about the wildfires too much, you feel okay," Izquierdo says. "But when a fire starts in a nearby village you start wondering – 'and what if we're next?'." Wildfires are one of several symptoms of climate change which in recent years have had a substantial impact on Spain's economy, as well as contributing to shocking human tragedies. World Weather Attribution, an international research organisation, found that the extreme conditions that drove record-breaking fires in Spain and Portugal in 2025 were 40 times more likely, external to happen due to the warming climate. "The ultimate reason for the greater frequency and intensity of these kinds of fires has to be attributed to the increase in greenhouse gases caused mainly by the generalised use of fossil fuels," said Ernesto Rodríguez Camino, president of the Spanish Meteorology Association. The Socialist Prime Minister, Pedro Sánchez, has described the fires in dramatic terms, placing Spain in the front line of an environmental crisis. "The climate emergency kills," he said in July, during a visit to the southern province of Almería where a wildfire claimed 15 lives.

Spain battles climate change on several fronts
North America
CNBC Finance

Nike parts ways with Kylian Mbappé; soccer superstar signs with On

French soccer phenom Kylian Mbappé signed his new endorsement deal with On after Nike chose not to renew its deal with the international superstar, a person familiar with the matter told CNBC. Earlier Friday, the Swiss sportswear company On said it reached an agreement with Mbappé, marking the brand's first signing in football. The company also announced it named retired French star Thierry Henry as director of football. As Mbappé's contract ended in July, Nike felt it had benefitted from the prime years of his career and decided to use its endorsement money elsewhere, said the person, who asked not to be named because the discussions were private. The 27-year-old will be 31 when the 2030 World Cup kicks off. The move is another major change for Nike, which is trying to rebuild brand loyalty and product innovation under CEO Elliott Hill. The company's sluggish sales, particularly its struggles in China, have contributed to its stock falling about 50% in the past year. Meanwhile, it's a coup for On, which has branched more outside of its core running segment. Mbappé joined the swoosh in 2006, when he was still a child, and has since emerged as one of the sport's highest-profile stars. The Real Madrid star is the all-time leading scorer for Paris Saint-Germain, the French national team and the FIFA World Cup, and he won the tournament with France in 2018. In a statement, Mbappé said he was drawn to On by the opportunity to build something entirely new. "I want to bring my experience and perspective into what we create, push what's possible through innovation, and always stay true to the joy of football. We have a shared dream, and this is only the beginning," he said. "Football doesn't need another sportswear brand to do more of the same," said David Allemann, founder and co-CEO of On, in a statement. "Football needs new ideas and a challenge to what is possible. For years, Nike has represented many of the top soccer stars in the world, including Erling Haaland, Vinicius Junior, Alexia Putellas and Sam Kerr. "Over nearly two decades, we've shared moments that shaped the game and he has been an important part of Nike Football," the company said. "We are proud of what we achieved together on and off the pitch. As he moves into the next phase of his career, we wish him continued success for what comes next." In an analyst note assessing On's ambitions in the sport, Jefferies warned that football is one of the most expensive categories to enter and that "performance credibility cannot simply be bought."

Nike parts ways with Kylian Mbappé; soccer superstar signs with On