Highlights of the day: Promoter group to sell stake worth $316 million in Cipla, say reports

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10:05 PM

Blinken says Russia must pay for what Putin destroyed in Ukraine

US Secretary of State Antony Blinken on Tuesday said that what Russian President Vladimir Putin has destroyed in Ukraine, Russia should and must pay to rebuild, as he said the U.S. intends to use its power to seize Russian assets. "We're working with our G7 partners to see that Russia's immobilized sovereign assets are used to remedy the damage that Putin continues to cost," Blinken said in a speech in Kyiv.

9:40 PM

Powerful solar storm impacts Earth, says Isro

A powerful solar storm impacted Earth in early May 2024, triggered by the highly active region AR13664 in the Sun, ISRO said on Tuesday.

 

This region unleashed a series of X-class flares and Coronal Mass Ejections (CMEs) directed at Earth.

 

According to ISRO, the resulting geomagnetic storm was the most intense since 2003, causing disruptions to communication and GPS systems.

 

"This is the biggest geomagnetic storm since 2003 in terms of its strength, as the flaring region on the Sun was as big as the historically important Carrington event that took place in 1859," ISRO said in a statement.

 

Multiple X-class flares and CMEs have hit the Earth in the past few days, the space agency said.

 

"This (CME) had severe effects over high latitudes where trans-polar flights are already being reported to get diverted. More events are expected in the next few days," ISRO noted.

 

The space agency said that the Indian sector got less affected as the main event of the storm happened in the early morning of May 11, when the ionosphere had not developed fully.

9:05 PM

Promoter group to sell stake worth $316 million in Cipla, say reports

Cipla's promoter group is looking to sell a 2.53 per cent stake in India's third-largest drugmaker via a block deal worth nearly $316 million, CNBC-TV18 reported on Tuesday, citing sources.

 

The promoter group will sell its stake in Cipla at a per-share price range of Rs 1,289.5 to Rs 1,357.35, the report said.

 

The price range of the proposed stake sale means it will be sold at no more than the value of the stock's last closing price, which was 4 per cent lower, at Rs 1,357.35.

8:38 PM

Children killed in Gaza: SKM demands international action

The Samyukta Kisan Morcha (SKM) has issued a plea for international action following alarming reports of child casualties in Gaza, with more than 14,000 children killed or severely injured in the region since October 7 last year.

 

In a statement, SKM leaders condemned what they described as "a war against children" in Gaza, where one child is reportedly killed or severely injured every 10 minutes.

 

The umbrella body of farmer unions said there is an urgent need for a ceasefire and drew attention to distressing video footage depicting brutal attacks on Palestinian children.

 

The Palestinian Farmers Union in the Qalqilya Governorate has called upon farmers worldwide to raise their voice for an immediate end to the violence targeting children on both sides of the Israel-Hamas conflict.

7:44 PM

Russian air attack strikes high-rise in Ukraine's Kharkiv

A Russian air attack on Kharkiv city centre in Ukraine hit a high-rise residential building, the city mayor said. There were no immediate reports of casualties.

7:44 PM

Trump says US China tariffs needed on other vehicles, products

Former US President Donald Trump said the Biden administration's new tariffs on Chinese electric vehicles, semiconductors and medical products should be applied to other types of vehicles and products.

7:40 PM

US wholesale prices rise more than expected in April

US wholesale prices rose continued to accelerate last month, according to fresh US government data published Tuesday, rising by more than expected on a sharp rise in the cost of services. The rise provides yet more evidence that the US Federal Reserve's fight against inflation is far from over, and will likely lead the US central bank to keep interest rates at their current highs for longer than previously thought.

7:16 PM

Amazon's cloud unit CEO to step down, firm says

The chief executive of Amazon.com's cloud unit Amazon Web Services, Adam Selipsky, is stepping down, the company said on Tuesday.

6:50 PM

DHFL director Dheeraj Wadhawan arrested by CBI in Rs 34,000-crore bank fraud case, say reports

DHFL director Dheeraj Wadhawan has been arrested by CBI in Rs 34,000-crore bank fraud case, sent to judicial custody, reports PTI citing officials.

5:10 PM

Must guard the trust of middle class families putting household savings into stock market: FM Sitharaman

 At the Viksit Bharat 2047 event at BSE, Finance Minister Nirmala Sitharaman asserted that families are actively opening demat accounts and that shows their trust in the market. "Middle class families realise that even if it is risk laden, there are better returns," thus showing willingness to investing in stocks and share, Sitharaman said. "We must guard and build from strength to strength the trust that Indians are showing in the stock market", Sitharaman added.

4:55 PM

Person can't be detained merely because of non-cooperation, says Bombay HC

A person cannot be detained merely because he is allegedly not cooperating, the Bombay High Court said quashing a Look Out Circular (LOC) issued against a man by the Enforcement Directorate (ED) in a 2019 money laundering case related to late drug smuggler Iqbal Memon alias Iqbal Mirchi. The man - Sanjay Kumar Agrawal - had filed a petition in the high court challenging the LOC issued against him by the ED in January 2021.

4:51 PM

Delhi excise policy case: K Kavitha's judicial custody extended till May 20

A Delhi court on Tuesday extended the judicial custody of Bharat Rashtra Samithi (BRS) leader K Kavitha till May 20 in connection with the Delhi excise policy case.  The Rouse Avenue Court deferred hearing arguments on consideration of the sixth supplementary chargesheet filed by the Enforcement Directorate in connection with the probe.

4:29 PM

Central government to launch 'decent' OTT platform

Prasar Bharati is set to launch its own over-the-top (OTT) platform by August, which will air content focusing on Indian society and culture. Read here for more details.

4:14 PM

30 Naxalites surrender before security forces in Chhattisgarh's Bijapur

As many as 30 Naxalites surrendered before security forces in Chhattisgarh's Bijapur district today. Stating that they were disappointed with atrocities committed by Maoists on tribals and "hollow" Maoist ideology, the Naxalites, among them six women, turned themselves in before senior officials of the police and Central Reserve Police Force. Nine of them carried a cumulative bounty of Rs 39 lakh on their heads.

3:51 PM

Centre extends ban imposed on LTTE for 5 years

The government today extended the ban imposed on the LTTE by five more years for fostering a separatist tendency amongst the masses for it in the country, particularly in Tamil Nadu, besides threatening the territorial integrity of India. The Union Home Ministry imposed the ban invoking the sub-sections (1) and (3) of section 3 of the Unlawful Activities (Prevention) Act, 1967.