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Business

Wall Street Falls as Oil Prices Surge and Chip Stocks Decline

On October 8, Wall Street indexes fell with the Dow down 0.07%, S&P 0.61%, and Nasdaq 1.37%, driven by a spike in crude oil prices amid Middle East tensions and US output cuts. Semiconductor stocks dropped 3%, weighed down by concerns over rising interest rates affecting AI-related investments. Starbucks shares dipped on Chipotle takeover rumors, while Palantir rose after a Goldman Sachs upgrade.

Mint Markets··New York

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World

Seven Killed in Israeli Strikes in Gaza, Including Civilians

Gaza's civil defence reported seven deaths from separate Israeli strikes in Gaza City and nearby areas, including two civilians killed in a residential bombing. The Israeli army stated three victims were military operatives linked to terrorist groups. Attacks included drone strikes on a car and a tent for displaced people. The conflict escalated after Hamas attacked Israel on October 7, 2023.

HT World··Gaza City

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Politics

Supreme Court Questions Independence in Election Commissioner Appointments

The Supreme Court's September 23 split decision in Dr Jaya Thakur v Union of India challenges the 2023 Act governing appointment of Election Commissioners. The Act's Section 7 allows a committee including the Prime Minister, Leader of Opposition, and a minister nominated by the PM to select commissioners. Critics argue this process risks government dominance, reducing the Leader of Opposition's role to ornamental, raising constitutional concerns about appointment independence.

Deccan Herald·

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Business

Microsoft Denies Visa Fraud, Says 80% H-1B Filings For Existing Staff

Microsoft denied allegations of H-1B visa abuse, stating that 80% of its roughly 6,000 applications last fiscal year were for existing employees, not new hires. This came after US Vice President JD Vance announced Microsoft's suspension from a government program for foreign worker residency. Microsoft said most of its US workforce is American and is ready to provide more information to the administration.

News18 World·

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Politics

Nana Patekar's Legacy and Plans Revealed by Son Before Death

Nana Patekar, a Padma Shri awardee, passed away at 75 in Goa and was cremated with state honors in Donje village, Pune Rural. His son Malhar Patekar shared insights on Nana's legacy, emphasizing his dedication to humanity and global betterment. Through NAAM Foundation, Nana focused on water, education, and health initiatives, including in Kashmir and North India. Before his death, he assigned specific responsibilities to his followers.

Amar Entertainment··Pune

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Politics

Bengaluru Plans to Split City Police into Five Commissionerates

Bengaluru proposes dividing its City Police Commissionerate into five territorial units, each led by an IGP or DIG rank officer, under a Chief Police Commissioner upgraded to DGP rank. This decentralization aims to improve policing in the expanding city of over 1.5 crore people by enabling quicker decisions, better supervision, and coordination with civic agencies aligned to the Greater Bengaluru Authority’s five corporations.

Deccan Herald··Bengaluru

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