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Tata Power on Monday said it is aiming for a capex of Rs 25,000 crore in the current fiscal year and will look to maintain the same annual spend till FY30. As per an investor presentation, 65 per cent of the capex is aimed at clean energy projects. Tata Power, which made a capital expenditure (capex) of Rs 17,273 crore in FY25, almost doubled the same to Rs 25,000 crore in FY26. The total capex estimated between FY26 and FY30 is Rs 1.25 lakh crore with Rs 25,000 crore spent annually, as per the presentation. In an interaction, Sinha said, "We are well poised to achieve our aspirations." In the power generation segment, the company had a thermal capacity of 15.7 GW in FY25, which it looks to scale up to 30 GW by FY30, he said. "From 7 GW of clean and green capacity, we aim to increase it to 20 GW almost three times by March 2031," Sinha said. The capacity of transmission lines both operational and under-construction stood at 7,047 circuit kilometres (ckm) as of FY25. The same wil
Air India chief Campbell Wilson on Wednesday said the pace of liberalisation of bilateral flying rights should not be "too much" that it undercuts the investments by Indian airlines and other aviation players. India is one of the world's fastest growing civil aviation markets, and various foreign carriers, especially from the Gulf, have been raising concerns that the country is not providing more bilateral rights as they look to tap the market potential. The Tata Group-owned Air India is working on revamping and expanding its fleet to offer more services amid rising air traffic demand. According to Wilson, around 95 per cent of the traffic that Indian airlines carry is terminating or originating in India. "For some of the other carriers, upwards of 60 per cent, 70 per cent and in some cases 90 per cent of what they are uplifting from India is transiting and going somewhere else. "And to the extent that Indian carriers have invested tens of billions of dollars in wide-body aircraft
Spotify said Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chairman, in an announcement that sent its shares sliding in premarket trading. The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: Chief Product and Technology Officer Gustav Soderstrom and Chief Business Officer Alex Norstrom. The pair, who are also currently copresidents, will transition into their new jobs on January 1 and will report to Ek. Spotify said in a press release that the move "formalises" how Spotify has been operating since 2023, with Soderstrom and Norstrom largely leading strategic development and operational execution. Ek said that he had already "turned over a large part of the day-to-day management and strategic direction" to the pair. "This change simply matches titles to how we already operate," he said. Since Ek founded Spotify about two decades ago, the platform's rise has helped transformed the music business and
Prosecutors say Luigi Mangione, accused of killing the CEO of UnitedHealthcare on a Manhattan sidewalk, has inspired others to embrace violence over reasoned debate. As evidence of Mangione's growing influence, prosecutors cited the last month's deadly mass shooting at the National Football League headquarters. The prosecution outlined the threat in a filing late Wednesday on a procedural matter in federal court in Manhattan, where they plan to try to convince a jury that Mangione deserves death. No federal trial date has been set. Mangione, who pleaded not guilty to state and federal charges, was arrested five days after the Dec. 4 killing of CEO Brian Thompson. He is being held without bail in a federal jail in Brooklyn. US Attorney General Pam Bondi announced in April that she was directing federal prosecutors to seek the death penalty for an act of political violence and a premeditated, cold-blooded assassination that shocked America. In their filing Wednesday, prosecutors wro