Highlights of the day: US Fed holds key rates unchanged at 5.25-5.50% for 6th straight meeting

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11:40 PM

Fed holds rates steady, flags 'lack of further progress' on inflation

The US Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings and suggested a possible stall in the movement towards more balance in the economy.

11:40 PM

US Fed holds key rates unchanged at 5.25-5.50% for 6th straight meeting

The US Federal Reserve announces its interest rate decision today after a two-day Federal Open Market Committee (FOMC) meeting, and as widely expected, it has left the benchmark interest rates unchanged at 5.25 per cent - 5.50 per cent for the sixth straight meeting, in line with Wall Street estimates.

11:38 PM

Risks to achieving employment, inflation goals have moved toward better balance over the past year: US Fed

US Fed says risks to achieving employment and inflation goals 'have moved toward better balance over the past year,' as opposed to 'are moving into better balance' in march policy statement.

11:36 PM

Google lays off at least 200 employees from its core teams, moves some positions to India, Mexico: CNBC

11:18 PM

Powell-led FOMC to unveil policy decision shortly; rate cuts eyed

The US Federal Reserve is set to announce its decision on interest rates today, following a two-day Federal Open Market Committee meeting. It is widely anticipated that the benchmark interest rates will remain steady at 5.25 to 5.50 per cent for the sixth consecutive meeting, in alignment with Wall Street predictions.

 

The rate-setting panel concluded its second policy-setting meeting of the year on March 20 and unanimously decided to maintain the policy rate at this 23-year peak, stating it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward two per cent."

 

Since March 2022, the central bank has increased the policy rate by 5.25 percentage points in a rapid response to rising inflation, but has maintained the rate unchanged since July 2023.

11:15 PM

Studies suggest more ice on Moon within exploitable depths: Isro

A study has revealed evidence for enhanced possibility of water ice occurrence in the polar craters of the Moon, according to Isro.

11:15 PM

Biden to address antisemitism in May 7 speech: White House

President Joe Biden will discuss rising levels of antisemitism in a May 7 speech at a museum dedicated to remembering Holocaust victims, the White House said on Wednesday. Press secretary Karine Jean-Pierre told reporters Biden will address "the rising scourge of antisemitism" in his speech. It comes as college campuses face growing protests over U.S. support for Israel in its conflict in Gaza.

9:39 PM

Tesla retreats from next-generation 'gigacasting' manufacturing process

Tesla has backed away from an ambitious plan for innovations in gigacasting, its pioneering manufacturing process, according to two sources familiar with the matter, in another sign that the electric-vehicle maker is retrenching amid falling sales and rising competition.

 

Tesla has been a leader in gigacasting, a cutting-edge technique that uses huge presses with thousands of tons of clamping pressure to die-cast large sections of the car’s underbody. On a typical vehicle, the underbody can consist of hundreds of individual parts.

8:31 PM

Patanjali Foods addresses license suspension of 14 products in Uttarakhand

Patanjali Foods clarifies license suspensions for 14 products from Divya Pharmacy & Patanjali Ayurved in Uttarakhand, addressing concerns.

8:30 PM

Harvey Weinstein to appear in court despite health setback

Despite battling numerous health issues, Harvey Weinstein, the once-powerful Hollywood producer, is expected to attend his court hearing tomorrow in New York City, where he faces re-arraignment on 2018 rape charges. Weinstein's spokesperson, Juda Engelmayer, confirmed to Deadline that, despite his medical conditions, Weinstein intends to be present in court. Weinstein, who has been dealing with diabetes, cardiac issues, sleep apnea, and near blindness, was recently hospitalised due to health complications.

8:29 PM

Tripura restricts sale of petrol, diesel

The Tripura government has imposed restrictions on sale of petrol and diesel from Wednesday as the fuel stock in the northeastern state has come down due to disruption of goods train movement, an official said. Goods train movement to Tripura was hit by a massive landslide in Assam's Jatinga. Passenger train movement started on April 26 after restoration work. However, train service through Jatinga still remains closed during the night.

8:29 PM

DGCA starts deregistering Go First planes

In a relief to aircraft leasing companies, civil aviation regulator Directorate General of Civil Aviation (DGCA) has deregistered all 54 aircraft of Go First, 364 days after the Wadia-owned company had filed for bankruptcy. The Delhi High Court, on April 26, had directed DGCA to process the deregistration applications of aircraft leased by the airline within five working days.

5:36 PM

Vistara flight makes emergency landing at Bhubaneswar airport, passengers safe

A flight from Bhubaneswar to New Delhi returned minutes after take-off and made an emergency landing after the aircraft was caught in a hailstorm and suffered damage on Wednesday, an official said.
 

The 169 passengers and crew on board are safe.
 

The New Delhi-bound Vistara flight landed back at the Biju Patnaik International Airport (BPIA) here barely 10 minutes after taking off, the officials said.
 

According to preliminary information, the aircraft's windshield developed a crack due to the hailstorm that lashed several parts of Odisha this afternoon.
 

"A windshield has been damaged, while no harm was caused to the passengers," BPIA Director Prasanna Pradhan said.

5:26 PM

Fire at Mahindra showroom in Jabalpur

Fire breaks out in the workshop of Mahindra showroom located near Bhedaghat Bypass in Jabalpur, Madhya Pradesh. More details awaited.

5:21 PM

Jindal Stainless announces expansion plans, to invest Rs 5,400 cr

Jindal Stainless on Wednesday said it will invest up to Rs 5,400 crore ($646.6 million) for expansion and acquisition plans to improve its melting and downstream capacities.

5:19 PM

Mumbai: Local train derails near CSMT

Empty local train derails near CSMT station in south Mumbai; no one injured, says Central Railway spokesperson

5:19 PM

President Droupadi Murmu in Ayodhya

President Droupadi Murmu arrives at Ayodhya, welcomed by Uttar Pradesh Governor Anandiben Patel

5:19 PM

Hoax bomb threat

Delhi government issues advisory to schools, asks them to check e-mails on official IDs timely

4:58 PM

Supreme Court reserves verdict on whether private properties can be held material resources of community

Earlier a nine-judge bench, faced with an argument that the Centre can take over private property under Article 39(b) to serve common good,  raised doubts on whether such a stand can be accepted in an era of privatisation and liberalisation, where efforts are made by governments to encourage private enterprise.

4:53 PM

IMD issues red alert for severe heatwave in Gangetic West Bengal during next 3 days

The IMD has issued a red alert for severe heatwave for Gangetic West Bengal for three days, two days for Odisha, and overall East India is getting an orange alert for the next 3-5 days. 

4:47 PM

Weather update: Vidarbha, Marathwada, Gujarat likely to see 5-8 additional heat wave days in May, says IMD

Regions such as South Rajasthan, west Madhya Pradesh, Vidarbha, Marathwada and Gujarat are likely to experience 5-8 additional heat wave days in May, the IMD said today.

4:07 PM

Gangster Goldy Brar, Sidhu Moosewala murder mastermind, shot dead in California by rival gang: Report

Gangster and mastermind in Punjabi singer Sidhu Moosewala murder case, Goldy Brar, was reported shot dead by rival gang members of Dalla Lakhbir gang, according to News18 . According to the report, Goldy Brar was shot dead in California. However, official confirmation is awaited.

 

According to preliminary reports, the gangster was shot dead at Hotel Fairmount in Calafo

3:59 PM

Trial run of Vande Bharat metro train to begin from July

Vande Bharat Metro rail is all set to be tested from July this year, NDTV reported today. A rail coach factory in Punjab's Kapurthala manufactured the first few coaches of the Vande Bharat Metro. Initially, 50 such trains will be built, and the number will be raised gradually to 400, railway sources said.

 

3:50 PM

Bodies of 10 Maoists recovered after anti-naxal operation in Chhattisgarh's Narayanpur

Ten Naxalites including three women were killed in an encounter with security forces on Tuesday on the border of Narayanpur and Kanker districts of Chhattisgarh.

3:47 PM

NIA arrests eighth key accused in Attari drugs seizure case

The National Investigation Agency (NIA) arrested another key accused in the Attari drugs seizure case. The agency said  the accused, Athar Saeed alias Chacha,  was arrested on Tuesday after NIA teams searched his premises in Delhi's Darya Ganj area and seized incriminating documents. Athar Saeed had handled the proceeds of the drugs on the directions of the kingpin, Shahid Ahmed.

3:16 PM

Accused in Salman Khan house firing case allegedly dies by suicide in Mumbai Police custody: Reports

Anuj Thapan, an accused arrested in the Salman Khan house firing case, allegedly died by suicide in police custody today, according to media reports.

 

3:06 PM

Filing false cases against husband amounts to cruelty by wife: Bombay High Court

The Aurangabad bench of the Bombay High Court has recently observed that lodging false criminal cases against husband and his family members would fall within the ambit of cruelty under Domestic Violence Act.

 

The Bombay High Court made the observation while dismissing a plea by a 36-year-old divorced woman seeking restitution of conjugal rights with ex-husband, against whom she had filed domestic violence case.

2:52 PM

Trump felony trial: Former president downplays Capitol attack by comparing it to students' protest

Marking the second time in a week the former president has invoked the ongoing campus protests to downplay past examples of right-wing violence, Donald Trump on Tuesday said that that Columbia University's pro-Palestinian protesters could be treated more leniently than the rioters who stormed the US Capitol in January 2021. Trump questioned whether student demonstrators who seized and barricaded a campus building early Tuesday, some of them vandalising it in the process,

2:45 PM

News update: Accused in Salman khan firing case attempts to kill himself

The accused in the Salman Khan firing case attempted to kill himself today in police custody and has been taken to the hospital.

2:20 PM

CCI checks if Pernod colluded with New Delhi retailers to pump up market share

The Competition Commission of India (CCI) is reviewing accusations that France's Pernod Ricard colluded with retailers in New Delhi to boost market share, news agency Reuters reported today. With brands such as Chivas Regal, Glenlivet and Absolut vodka, Pernod has a share of 17 per cent in a liquor market it says is its second biggest globally by net sales. It is, at the current moment, affected by licence and tax and antitrust difficulties.