ET NEWS

U.S. President Donald Trump said on Wednesday he canceled a planned summit with Russian President Vladimir Putin, citing a lack of progress in diplomatic efforts and a sense that the timing was off. "We canceled the meeting with President Putin - it just didn't feel right to me," Trump told reporters at the White House. "It didn't feel like we were going to get to the place we have to get. So I canceled it, but we'll do it in the future." Trump also expressed frustration with the stalled negotiations. "In terms of honesty, the only thing I can say is, every time I speak with Vladimir, I have good conversations, and then they don't go anywhere. They just don't go anywhere," he said. The summit cancellation came as the White House unveiled new sanctions targeting Russian oil exports, part of a broader effort to pressure Moscow over its continued military operations in Ukraine. Trump said he hoped the measures would be temporary.

New Delhi: Coal-fired power plants in India have sufficient fuel supplies, with total coal reserves reaching 44.7 million tonnes as of October 17. This is an increase of 31.1% from a year ago, despite a depletion of approximately 16 million tonnes over the last four and a half months.Experts said the comfortable stock position reflects improved supply coordination and a higher base before the monsoon season. This was aided by lower power demand in the summer months.In June, power plants started with about 60.7 million tonnes of coal stock, which was 27.8% higher from a year ago, giving a good base and sufficient supplies."The higher stock is because of good opening stock and sustained supplies during summer season," a senior government official told ET. "Q2 saw a drop of 15.5 million tonnes, however, supplies have started picking up again."Coal stocks deplete during monsoon and are usually followed by a pickup in fuel production and dispatch in the second half of the financial year.For FY26, the coal ministry has set a coal production target of 1.15 billion tonnes compared with 1.05 billion tonnes in FY25.Power demand showed moderate growth in July and September and was negative in May and June, partly led by good early monsoon rains, resulting in less demand for cooling from households.According to a report from SBICAPS in September, power supply is expected to be flattish year-on-year in the first half of the ongoing financial year.

Netflix shares fell more than 10% on Wednesday, as the streaming giant's outlook for the coming quarter left investors nonplussed despite a strong line-up of shows that includes the final season of "Stranger Things".Investors have become accustomed to routine outperformance from the company that propelled the stock to a gain of more than 360% over the past three years, far outpacing media bellwethers like Walt Disney and even tech stalwarts Apple and Alphabet.It has garnered additional attention with the sweeping success of the animated "KPop Demon Hunters".But since peaking in June, shares have declined more than 16%, signaling that investors are growing cautious about its lofty valuation and lack of details about subscriber growth. The company's forward price-to-earnings multiple stands at nearly 40, far more than other media companies and major tech names."Shares have enjoyed a strong run this year, so expectations were already high, and with the valuation sitting above its long-term average, there's added pressure not just to deliver but to exceed," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.Netflix forecast revenue of $11.96 billion for the fourth quarter, compared with Wall Street's projection for $11.9 billion. Third-quarter revenue was roughly in line with forecasts, at $11.5 billion, according to LSEG data.The company has ventured into advertising and video games to diversify its revenue streams, but these businesses have struggled amid shifts in leadership and strategy, along with competition.For the third quarter, Netflix said it recorded its best ad sales quarter in history without disclosing a number."Netflix must demonstrate soon that its ad program can accelerate growth to justify a sky-high multiple," analysts at Wedbush said, calling the company's latest guidance "underwhelming" after several quarters of standout results.Netflix stopped reporting subscriber figures early in 2025. The company is banking on its major releases through year-end that include "Stranger Things" and two NFL games set to stream live on Christmas Day.However, Evercore ISI analysts suggested investors should buy any dip in the stock, noting competitors Disney+ and HBO Max have increased their subscription prices, giving Netflix plenty of cover to boost its own rates. The Connecticut-based firm missed profit estimates for the third quarter due to a $619 million charge linked to a tax dispute in Brazil. J.P. Morgan analysts described the expense as "noise," noting that "the bigger focus is the lack of revenue upside in the back half of the year"."With no subscriber numbers, some advocates are grasping at straws to find any sign of weakness, as the company is faring much stronger than its rivals," said PP Foresight analyst Paolo Pescatore.At least three brokerages lowered their price targets on Netflix after the results.

A Muhurat-to-Muhurat analysis of the stock market performance of India’s top 10 business houses by market cap reveals that the Bharti Airtel group has clocked the highest gain of 24.8 in market capitalisation during the Samvat 2081 helped by a strong rebound in the profitability of the group’s flagship telecom company Bharti Airtel. The Bajaj group led by Rajiv and Sanjiv Bajaj came in second with a market cap gain of 24.2% followed by the Mahindra group in the third spot with 15.7% gain.Sunil Mittal led Bharti group also posted a robust 28.9% annual increase in market cap since the 2021 Diwali, the highest return among the top 10 business houses. Bharti Airtel’s net profit has increased significantly over the past five years helped by an uptick in tariff plans for its mobile and data services and rising consumption of digital content in the country. Net profit increased more than four-fold between FY22 and FY25 to Rs37,481 crore from Rs 8,305 crore. It rose further to Rs40,186 crore in the 12 months (TTM) to June 2025.124750267The market cap of Mahindra group, which ranked third on the list, increased in double digits in each of the three years to Samvat 2081. The group’s major company Mahindra and Mahindra, has been improving its market share in the sports utility vehicles (SUV) and tractor segments aided by new product launches. The company’s net profit nearly doubled between FY22 and FY25 to Rs14,073 crore from Rs7,253 crore and increased further to Rs14,904 crore in TTM to June 2025.The four out of top 10 business groups failed to increase their market cap in the past Samvat year that ended on October 20, 2025. The Shiv Nadar founded HCL Technologies group and the Tata group posted 15.4% and 13.6% loss in their market caps respectively.