South Korea's antitrust regulator said on Thursday that it has rejected a proposed mileage integration plan submitted by Korean Air Lines and Asiana Airlines, citing insufficient details and consumer benefit concerns.

The Fair Trade Commission (FTC) said the plan, submitted earlier in the day as part of the carriers' broader merger plan, failed to meet the standards necessary to proceed with a formal review, reports news agency.

"There were shortcomings in the proposed mileage redemption plan compared to what Asiana Airlines previously offered," the FTC said. "In terms of the proposed mileage integration ratio and other explanations, we found the submission insufficient to initiate a full assessment."

The FTC requested Korean Air to immediately revise and supplement the proposal before resubmitting.

The entry of ride-sharing companies into the online food delivery market in India pose early challenge to existing players like Zomato and Swiggy as in initial years, such companies can operate on much lower margins or at break-even, a report showed on Wednesday.

Rapido has announced its entry this month. ONDC was a similar risk in 2023 but it was not able to make a major dent in the duopoly structure of the food delivery industry, according to a note by HSBC Global Investment Research.

Average two-wheeler (2W) ride-sharing cost economics are not much different from food delivery (FD), while profit margins and industry size are much larger for food delivery compared to ride sharing.

Investors in the Gensol Engineering Limited (GEL) have suffered a massive loss to the tune of nearly Rs 4,000 crore as the stock of the fraud-hit company sank by more than 95 per cent.

Gensol Engineering's stock closed 2 per cent down at Rs 51.42 on the National Stock Exchange (NSE) on Wednesday. The stock has slipped 95.42 per cent from its all-time high.

In April, the Securities and Exchange Board of India (SEBI) took strict action against Gensol’s top promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The capital markets regulator barred both from accessing the securities market and from holding key management roles.

Public sector giant Steel Authority of India Limited (SAIL) announced on Tuesday that it has received the accreditation for the Authorised Economic Operator (AEO), Tier II from the Directorate of International Customs.

Recognised globally, this accreditation serves as a testament to an organisation’s commitment to compliance, integrity and supply chain security and helps in trade facilitation. AEO certification, issued by the Central Board of Indirect Taxes and Customs (CBIC), grants businesses specific benefits, including expedited customs clearance and reduced inspection requirements.

The AEO programme aims at fostering a secure and efficient trading environment in international trade. It is a trade facilitation move wherein benefits are extended to entities that have demonstrated strong internal control systems and a willingness to comply with the laws administered by CBIC.

OpenAI’s popular chatbot ChatGPT suffered an outage on Tuesday, as users across the world, including in India, were facing problems with loading and accessing results to prompts.

The company said there are “elevated error rates and latency” that users have been experiencing on various AI platforms.

"We are investigating," said the company. About 88 per cent of complaints from India cited the chatbot not responding to queries, 8 per cent reported issues with the mobile app, and 3 per cent faced API-related problems.

Downdetector also posted a spike in the issues reported by users.

The hiring intent in India remains steady in the third quarter this year (July-September) globally, driven by strong growth in the private services sector and expectations of economic benefits stemming from shifts in global trade dynamics, especially in relation to China, according to a report released on Tuesday.

Employers report a Net Employment Outlook (NEO) of 42 per cent for the July-September period, according to the latest ManpowerGroup Employment Outlook Survey.

The results, based on responses from 3,146 employers across India during April 2025, show the Indian hiring Outlook remains very animated. Amid these favourable conditions, India continues to position itself as a key player in the global employment landscape.

“As we enter the third quarter of 2025, India’s employment Outlook remains robust, with a NEO of 42 per cent -- among the highest globally. Despite a slight dip from the previous quarter, the 12-point year-on-year gain highlights sustained employer confidence and growth momentum in the labour market,” said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.

As diversification of supply sources is being actively explored, aligned with policy efforts, the situation continues to evolve for the Indian automotive players in their quest to have a steady flow of rare earth magnets amid China’s export restrictions, a Crisil report showed on Tuesday.

Rare earth magnets, low in cost but critical in function, could emerge as a key supply-side risk for the India’s automotive sector if China’s export restrictions and delays in shipment clearances persist.

A disruption lasting beyond a month can impact electric vehicle (EV) launches, affect production and weigh on the sector’s growth momentum, said the Crisil Ratings report.

Recognising the risk, the government and automakers are taking action on two fronts.

Analysts on Tuesday said that this year, Apple highlighted its one of the core strength: delivering a unified and seamless experience across all its hardware and added an additional visual appeal to it — the biggest visual overhaul after iOS 7.

Apple has previewed iOS 26 at its flagship developer conference ‘WWDC 2025’ here — a major update that brings a beautiful new design, intelligent experiences, and improvements to the apps users rely on every day. The new design provides a more expressive and delightful experience across the system while maintaining the instant familiarity of iOS.

Counterpoint Research Director, Tarun Pathak, told that the updated visual design, featuring the new "liquid glass" aesthetic, is set to further enhance user engagement across Apple's device ecosystem.

Olectra Greentech Ltd announced on Monday that the company’s Chairman and Managing Director, KV Pradeep, has resigned from the top post “due to personal reasons.”

The company said in the stock exchange filing that Pradeep has also resigned as director of the company.

Olectra Greentech ran into trouble with the Maharashtra government last month deciding to scrap the order for 5,150 electric buses placed with the company for the state transport service.

In a post on social media platform X, Maharashtra Transport Minister Pratap Sarnaik said that the company had failed to deliver even a single bus from the 1,000 units scheduled for handover by May 22. Sarnaik said officials had been directed to cancel the tender for 5,150 buses due to the supplier's inaction, raising questions about the project's viability.

“We had an agreement with Olectra since January 2024, under which they were supposed to deliver over 2,000 buses by now. We had planned our operations accordingly to serve the people. But they have only delivered 220 buses so far,” Sarnaik had said.

India’s two-wheeler industry is poised to surpass pre-Covid sales levels in the financial year 2025-26, with an expected volume growth of 8-9 per cent, according to a CareEdge Ratings report released on Monday.

Key tailwinds such as easing inflation, higher disposable income driven by a full income tax rebate for individuals earning up to Rs 12 lakh per annum and a more accommodative monetary policy -- highlighted by the cumulative 100 bps rate cut by the RBI since February 2025 with recent 50 bps rate cut announced in June 2025 -- are set to boost consumer sentiment and affordability. A favourable monsoon could further strengthen the growth prospects, setting the stage for the industry volumes to surpass pre-Covid levels.

CareEdge Ratings notes that during the past three years, ending FY25, the Indian two-wheeler industry maintained healthy volume growth of 8 per cent, 10 per cent, and 11 per cent in FY23, FY24, and FY25, respectively.