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Bloomberg Quint
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Air India Crash: Legal Liability May Extend Beyond Airline, Say Experts
- The recent Air India crash raises questions regarding liability and compensation for victims.
- Under the 1999 Montreal Convention, the airline may be liable to pay up to Rs 1.4 crore per victim; Tata Sons has offered Rs 1 crore aid.
- Air India announced an interim payment of Rs 25 lakh, bringing the total provision to Rs 1.25 crore.
- Legal experts suggest that Air India must prove it took necessary measures to avoid the damage to limit liability.
- Relief can also be sought under Indian laws if negligence is proven, potentially increasing liability.
- If Boeing's liability is proven, claims can be pursued in US courts according to legal experts.
- Boeing's liability may be limited by the General Aviation Revitalization Act if the faulty part is more than 18 years old.
- Ultimately, Boeing's liability depends on the age of the component and whether the issue was due to a manufacturing defect.
- Various legal aspects are being analyzed in light of the tragic incident.
- The Indian Medical Association seeks financial aid for injured and deceased students from Tata following the crash.
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Bloomberg Quint
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Charting The Global Economy: Israeli Airstrikes Boost Oil Prices
- Israeli airstrikes on Iranian atomic facilities caused crude oil prices to surge as much as 14%, leading investors to seek safe havens like gold.
- US economic data revealed lower-than-expected inflation in May, potentially influencing Federal Reserve's interest rate decisions.
- The UK's economy shrank significantly in April due to large tax increases and US tariffs, while Chinese exports to the US plummeted.
- US President Trump called on Iran to accept a nuclear deal to prevent further escalations after Israel's bombings.
- China's control over rare earths, crucial in modern technologies, was highlighted amid trade tensions with the US.
- Global central banks in Peru, Serbia, and Kenya made rate decisions, with Kenya lowering its benchmark rate.
- US inflation remained muted despite concerns about tariffs, with wholesale prices also showing no significant increase.
- The House-passed tax and spending bill could disproportionately impact lower-income Americans, benefiting higher-income households more.
- The UK experienced a significant economic contraction due to tax increases and US tariffs, posing challenges to economic growth plans.
- Asia saw easing inflation and mixed export performance, with Chinese exports to the US declining but strong demand from other markets.
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Bloomberg Quint
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Iran Fires Hundreds Of Missiles At Israel As Conflict Escalates
- Iran fired hundreds of ballistic missiles at Israel in response to an attack on its nuclear facilities, escalating tensions in the Middle East.
- Israel's military reported that the Islamic Republic targeted Israel with 200 missiles and about 200 drones in four waves of strikes.
- US forces assisted in shooting down the projectiles launched by Iran.
- The conflict marks a significant escalation, with Israel warning of continued airstrikes if Iran's assault persists.
- The fighting challenges the limits of aggression between the two nations and signals a potential prolonged conflict.
- Casualties were reported in Tel Aviv, with video footage showing explosions and damage in the area.
- Israel's air defense systems, including the Iron Dome and David’s Sling, have shown a high interception rate.
- The attacks have had repercussions on global markets, with the S&P 500 declining and crude oil prices surging.
- The conflict raises doubts about US negotiations with Iran on their nuclear program and the possibility of a diplomatic solution.
- Iran's Supreme Leader vowed strong action, while tensions may escalate to target US bases in the region.
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Bloomberg Quint
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Zelenskiy Says US ‘Decisiveness’ Key To Pressuring Putin
- Ukrainian President Zelenskiy emphasizes the importance of US 'decisiveness' in pressuring Putin for a ceasefire in Russia-Ukraine conflict.
- Zelenskiy seeks clarity from the US on measures to pressure Russia, as European support depends on it.
- He hopes for strong actions from President Trump, including sanctions against Putin.
- Without US sanctions, Zelenskiy believes it will be challenging to end the war in Ukraine and stresses on American decisiveness.
- The wavering commitment from Washington has slowed down Europe’s support for Ukraine, according to Zelenskiy.
- Efforts are underway to arrange a meeting with Trump at the G7 summit to discuss weapon purchases, peace talks, and sanctions.
- Zelenskiy highlights the importance of foreign security presence in Ukraine for negotiations with Russia.
- The ongoing prisoner swaps with Russia are expected to conclude by late June, bringing back soldiers held captive since 2022.
- Zelenskiy raises concerns about Russian military pressure near Sumy region and the potential joint drills in Belarus in September.
- He also plans to discuss price caps on Russian oil and broader energy sanctions with Trump post Israel-Iran air strikes.
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Bloomberg Quint
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Air India Announces Rs 25-Lakh Interim Payment To Families Of Crash Victims
- Air India announces interim payment of Rs 25 lakh to families of crash victims in addition to Tata Sons' Rs 1 crore support.
- The payment follows a tragic plane crash in Ahmedabad where a Boeing 787-8 Dreamliner crashed, killing 241 people on board and on the ground.
- Air India expresses solidarity with the affected families and is providing care and support during this difficult time.
- The airline is conducting safety checks on Boeing 787 aircraft as per aviation authorities' directives.
- Air India is fully cooperating with ongoing investigations regarding the crash.
- The data recorder of the crashed aircraft has been recovered for investigation purposes.
- Air India's CEO stated the process of reuniting families with their loved ones' belongings has started.
- Over 200 caregivers are in Ahmedabad to assist families, provide counseling, and other necessary services.
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Bloomberg Quint
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SEBI Whole Time Member Flags Concern Over Valuation Practices
- SEBI Whole Time Member, Ananth Narayan, expressed concerns over valuation practices and highlighted risks such as 'valuation shopping' and lack of accountability for significant deviations.
- Narayan suggested applying lessons from the credit rating industry, such as disclosing assumptions and sensitivity ranges.
- He recommended deepening engagement between CFOs, audit committees, and auditors, and reducing the time lag between annual results and full annual reports.
- SEBI's regulatory mechanisms aim to include industry inputs, and CFOs are encouraged to be proactive in regulatory discussions.
- Narayan emphasized that SEBI's enforcement actions are evidence-based and must meet the threshold of preponderance of probability.
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Bloomberg Quint
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REITs Gave Better Returns Than Markets In FY25 As Distributions Rose
- India's four publicly listed real estate investment trusts outperformed India's benchmark indices in fiscal 2025 with a 12% improvement in distributions per unit.
- Listed REITs' distributions were significantly higher compared to the 5.1% returns of BSE Sensex and 5.3% advance of NSE Nifty 50 in fiscal 2025.
- Nifty Realty experienced a 5.5% decline during the financial year.
- Distribution per unit is the cash amount a REIT distributes to each unit holder, representing a major source of investor returns.
- Nexus showed the highest growth among listed trusts, with an 18% year-on-year increase in distribution per unit.
- Mindspace, Brookfield, and Embassy also saw growth in their distributions per unit, with Mindspace leading at over 14%.
- Embassy and Nexus anticipate improved distributions in the next fiscal, aiming for up to a 13% and 10% increase, respectively.
- In the fourth quarter of fiscal 2025, the four REITs collectively distributed over Rs 1,553 crore to unitholders, marking a 13% year-on-year increase.
- Embassy and Mindspace had distributable cash flows of Rs 496 crore and Rs 284 crore, respectively, for the March quarter.
- Nexus Select and Brookfield's distributions for the quarter were Rs 303 crore and Rs 204 crore, respectively.
- Knowledge Realty Trust, backed by Blackstone and Sattva Developers, filed for an IPO worth Rs 6,200 crore in March as the largest office REIT in India.
- Upon listing, Knowledge Realty will be the country's fifth REIT and the fourth managed by Blackstone.
- The Indian REIT market continues to show growth and potential for investors, with REITs offering attractive returns and distributions.
- The real estate sector remains dynamic, with REITs playing a significant role in providing investment opportunities.
- The performance of REITs in FY25 highlights their appeal to investors seeking returns higher than traditional market indices.
- REITs' consistent distributions and growth prospects make them an attractive investment avenue in the Indian real estate market.
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Armaghplanet
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Concerning news about funding for Gravitational wave observatories
- Concerns arise among Gravitational Wave astronomers over draft budgets proposed by NASA and NSF for the upcoming year.
- NASA's budget request includes discontinuing funding for LISA, a space-based GW observatory with three spacecraft linked by laser beams.
- LISA was a joint proposal to ESA and NASA in the early 1990s, with NASA re-engaging in 2017 to contribute expertise and key components.
- LIGO, using similar interferometric techniques to LISA, detected GW events from black hole mergers in 2015 and neutron star binaries in 2017.
- Armagh is involved in projects like GOTO and BlackGEM aimed at detecting optical counterparts of GW events, crucial for identifying their origins.
- While LIGO detectors maintained operational plans until 2025, concerns about budget cuts impact the ability to pinpoint GW event locations accurately.
- Astronomers are awaiting US Congress decisions on the final budget allocations affecting GW research projects.
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Bloomberg Quint
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Happy Father's Day 2025: Wishes, Messages, Images, WhatsApp And Facebook Status
- Father’s Day is an occasion to show respect to fathers and fatherly figures celebrated on the third Sunday of June in most parts of the world.
- Father’s Day history dates back to the early 20th century in the United States, and in 2025, it falls on June 15.
- People express affection for fathers through various ways like gifts and games.
- Here are Happy Father's Day wishes and messages to send to your father and fatherly figures to make this day special.
- Messages include expressing love, gratitude, admiration, and appreciation for fathers.
- Short greetings convey endless support, guidance, inspiration, and happiness brought by fathers.
- WhatsApp and Facebook status messages highlight father's love, kindness, courage, and importance in the family.
- Father's Day card messages and images are shared for the occasion.
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Bloomberg Quint
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Nervous Skies: Flyers Rethink Plans After Deadly Crash, Bomb Scare And Iran-Israel Airspace Chaos
- The aviation sector is experiencing turbulence as flyers rethink their travel plans following a deadly crash, bomb scare, and airspace chaos between Iran and Israel.
- Travellers are increasingly seeking information about aircraft safety records before their flights, but flight bookings haven't significantly decreased, with cancellations remaining minimal.
- The recent disruptions, including a fatal plane crash and the closure of airspace by Iran, Iraq, Jordan, and Israel, have led to flight diversions and flight recalls, affecting routes to Europe and North America.
- Air India had to reroute several flights, causing delays and cancellations for passengers traveling from Delhi, Vancouver, London Heathrow, and New York.
- Despite the challenges, alternative arrangements were made by airlines to ensure passengers reach their destinations safely and receive necessary accommodations.
- The series of aviation incidents has caused a decline in travel and tourism-related stocks, with aviation companies like Interglobe Aviation and travel platforms experiencing stock price drops.
- Experts believe that the current decline in aviation stocks may be short-lived and attribute it to a combination of sentiment shock and an increase in crude oil prices, rather than a direct impact of the recent events.
- The historical trend suggests that aviation stocks respond significantly to crashes only in cases of direct business or regulatory implications, indicating that the current market reaction might be sentiment-driven.
- Despite the temporary setback, experts expect resilience in the air travel industry in the medium to long term, highlighting the potential for recovery in the travel and hospitality sectors.
- Flyers have expressed nervousness about air travel on social media, with some changing airlines or canceling their trips amidst the uncertainties in the aviation sector.
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Bloomberg Quint
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Iran Says Talks With US Now ‘Meaningless’ After Israeli Strikes
- Iran deems further nuclear talks with the US 'meaningless' after Israeli strikes, according to Tehran Times.
- An Iranian foreign ministry spokesman stated that Israel's actions rendered dialogue futile.
- The US and Iran were set to restart discussions in Oman, but doubt lingers following the spokesman's remarks.
- Although unclear if talks are canceled, US President Trump urged Iran to reach a deal swiftly.
- Iran launched numerous ballistic missiles at Israel in retaliation for an attack on its nuclear sites, escalating tensions in the region.
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Medium
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The Hidden Cost of Over-Engineering: A Startup Post-Mortem
- A startup aimed to create a unified solution for four core pillars of DAO operations.
- The team aimed to revolutionize how DAOs operated with a comprehensive platform.
- The team's enthusiasm led to over-engineering their tech stack, creating unnecessary complexity for a simple MVP.
- The founder's mistake was applying enterprise-level practices without considering the startup's stage.
- The story serves as a cautionary tale, highlighting the importance of simplicity and practicality in tech solutions for startups.
- Success in startups is about solving real problems for users quickly, learning, and adapting efficiently.
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Bloomberg Quint
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Iran-Israel Conflict: India Faces Costly Oil Imports, Trade Disruptions, Pressure On Rupee
- Fresh military engagement between Iran and Israel poses economic challenges for India amidst existing trade disruptions caused by US tariff policies.
- Aerial clashes between Iran and Israel led to global stock market declines, including India's market, as investors sought safer assets.
- India's economic concerns stem from its significant reliance on imports, particularly crude oil and gold, which have surged in price due to the conflict.
- The Strait of Hormuz stands out as a critical chokepoint for global oil trade, with India heavily dependent on oil shipments passing through this region.
- Higher oil and gold prices result in a heightened import bill for India, straining the country's trade balance.
- The Indian rupee faced pressure, hitting an 8-week low against the dollar, driven by increased import costs and concerns about inflation.
- Trade disruptions due to the conflict impact India's exports, with key shipping lanes like the Suez Canal facing challenges, affecting the India-Middle East-Europe Corridor.
- India's negotiations with the US for a trade deal are crucial amid looming reciprocal tariffs, as the country aims to boost its export bill amidst economic challenges.
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Bloomberg Quint
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Axiom-4 Mission: New Launch Date On June 19, ISRO Says Liquid Oxygen Leak Fixed
- The Axiom-4 mission launch date carrying Indian astronaut Shubhanshu Shukla to the International Space Station is rescheduled for June 19 after the liquid oxygen leak in the Falcon 9 rocket was fixed.
- The launch was initially postponed from May 29 to June 8, 10, and 11 due to the liquid oxygen leak detected in the Falcon 9 rocket by SpaceX.
- Shukla will be the first Indian in space since Rakesh Sharma's 1984 journey aboard a Soviet spacecraft. He is an Indian Air Force officer and ISRO astronaut.
- The Axiom-4 mission features an international crew from the US, India, Poland, and Hungary traveling to the ISS on SpaceX's Dragon spacecraft launched by a Falcon 9 rocket.
- The mission is significant as it marks the return to human spaceflight for India, Poland, and Hungary through this 14-day mission to the ISS.
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Bloomberg Quint
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Zepto's Dharavi Warehouse Resumes Operations After FDA Revokes Suspension
- Maharashtra FDA revoked the suspension order for Zepto’s facility in Dharavi after a detailed re-inspection process and corrective actions were implemented.
- FDA had initially suspended Zepto’s license in Dharavi due to food standard violations like fungal growth in food articles and poor hygiene.
- Dharavi warehouse, run by Drogheria Sellers, resumed operations after the suspension order was revoked following an appeal hearing on June 13.
- Zepto operates on a business-to-business basis with warehouse licensees like Drogheria Sellers, Geddit Convenience, and Commodum Groceries.
- Licensees face challenges in maintaining clean warehouses due to thin margins and commission payments to Zepto.
- Zepto reaffirmed its commitment to adhering to food safety standards and providing a safe experience for users.
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