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BusinessPhoto: Firstpost Business

GM Ends Deal with $500M US Magnet Plant Challenging China

General Motors has ended its long-term supply agreement with Vacuumschmelze's $500-million rare-earth magnet plant in South Carolina, which was built to reduce US dependence on China for electric vehicle magnets. The plant, opened late last year, was to produce nearly 2,000 metric tonnes annually, mostly for GM. The termination follows shifts in US EV policy and GM's EV business scaling back. VAC's US unit has started arbitration alleging wrongful termination.

Firstpost Business··South Carolina

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EntertainmentPhoto: HT Entertainment

Kareena Kapoor warmly greets Shahid Kapoor at IIFA 2027 in Mumbai

At the IIFA 2027 event in Mumbai, Kareena Kapoor shared a warm hug with her ex-boyfriend Shahid Kapoor, sparking nostalgia among fans recalling their 'Aditya-Geet' chemistry from Jab We Met. The event saw heightened security following a recent attack on Tiger Shroff. Kareena wore a black leather skirt suit, Shahid a white suit, and other celebrities like Salman Khan, Rashmika Mandanna, and Varun Dhawan were also present.

HT Entertainment··Mumbai

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BusinessPhoto: NDTV Business

Goldman Sachs Downgrades Ola Electric Shares, Cuts Target Price

Goldman Sachs downgraded Ola Electric shares to sell, citing concerns over the company's unclear path to sustainable free cash flow. The investment bank highlighted high interest costs and significant capital expenditure needs in Ola Electric's battery cell and electric two-wheeler businesses as key worries affecting the company's financial outlook.

NDTV Business·

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TechnologyPhoto: Hindu Tech

Apple Launches iPhone Duo Foldable Phones in China

Apple has started sales of its first foldable phone, the iPhone Duo, in China. Market analysts expect Apple to capture 44% of the foldable market value by 2026, despite holding 31% of the units. The launch serves as an early test for new CEO John Ternus, who unveiled the device shortly after assuming his role. The iPhone Duo aims to reshape the small foldable phone segment dominated by Samsung and Huawei.

Hindu Tech··Shanghai

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BusinessPhoto: Mint Markets

Reliance Jio IPO Oversubscribed by 5.57 Times

By the end of the second subscription day, Reliance Jio's IPO was oversubscribed 5.57 times overall. The retail portion was subscribed 1.54 times, the employee reserved section 2.10 times, and the non-institutional investors' portion was subscribed 5.97 times. Experts are discussing whether investors should apply or buy shares after listing.

Mint Markets·

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PoliticsPhoto: Amar Ujala

Maharashtra Legislative Council Election: 182 Candidates for Five Seats

The Maharashtra Legislative Council election features 182 candidates contesting five seats. This election tests the strength of the Mahayuti and MVA alliances. Voting updates and results for the 2026 election are closely watched as both coalitions vie for influence in the state's upper house.

Amar Ujala·

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