Reliance Industries Ltd., led by Mukesh Ambani, is on the verge of finalizing a multibillion-dollar deal with Walt Disney Co. to acquire its India operations, including Disney Star business valued at around $10 billion. After the deal, Reliance is expected to hold a controlling stake in the Disney Star business, while Disney will retain a minority stake. The acquisition highlights Ambani's growing influence in India's entertainment industry, following deals like streaming the Indian Premier League for $2.7 billion in 2022 and broadcasting Warner Bros Discovery Inc.’s HBO shows in India earlier this year.          

The signing of the UK-India trade deal, previously speculated to occur during a cricket world cup match in India next week, faces delay due to lack of progress in India's market openness for British professional services. UK Prime Minister Rishi Sunak was expected to sign the deal on October 29 in Lucknow, but talks hit an impasse. India offers less access to law and accounting services compared to the UK's deal with Australia. Both countries emphasize the need for a fair and balanced agreement. Negotiations continue amidst the desire to sign before upcoming general elections in both nations.

Reserve Bank of India Governor Shaktikanta Das said the Israel-Hamas war has impacted India but the country remains economically strong. He stated India's macroeconomic fundamentals and financial sector continue to be sound amid global uncertainty. Das said India is well-placed on key parameters despite crude oil price rise concerns as a major importer. He emphasized monetary policy must stay focused on easing inflation given uncertain food and oil price outlooks. Das noted any domestic fuel price hikes would impact inflation more than global crude prices. He reiterated India's economic resilience despite geopolitical tensions impacting markets.

At the Google for India event, Google revealed its decision to manufacture Pixel smartphones in India, making the upcoming Pixel 8 the first locally-made device in the lineup. Rick Osterloh, Google's Senior VP for Devices and Services, announced the initiative, emphasizing the company's commitment to providing more access to Pixel smartphones in India. Osterloh stated that Google would partner with international and domestic manufacturers, aligning with the Make in India initiative. India, recognized as a 'priority market,' is seen as a thriving manufacturing hub, fostering an ideal environment for businesses. The rollout is anticipated in 2024.

Tata Group-owned Air India Express has revealed a vibrant new brand identity and aircraft livery at Mumbai airport. The design showcases orange, turquoise, tangerine, and ice blue colors and draws inspiration from traditional Indian textiles like Bandhani, Ajrakh, and Patola. The rebranding coincides with the merger of AIX Connect (formerly AirAsia India) into Air India Express, aiming to become Tata Group's low-cost carrier. Managing Director Aloke Singh emphasized the transformation journey, introducing modern Boeing B737-8 aircraft. The airline plans to expand its fleet to 170 narrow-body aircraft over the next five years, emphasizing a digital-first approach and Indian artistic diversity.

Dabur India disclosed that its three foreign subsidiaries, Namaste Laboratories LLC, Dermoviva Skin Essentials Inc., and Dabur International Ltd., are facing 5,400 cases in federal and state courts in the US and Canada. Consumers allege certain hair relaxer products, containing specific chemicals, caused ovarian and uterine cancers. The cases, consolidated as Multi-District Litigation, are in the early litigation phases. While the financial impact remains uncertain, defense costs are expected to surpass materiality soon. Dabur emphasizes these claims are unproven. The litigation is ongoing, with outcomes and settlements undetermined.

LinkedIn, owned by Microsoft, revealed plans to lay off 668 employees from its engineering, talent, and finance teams, constituting over 3% of its 20,000-strong workforce. This marks the second round of job cuts this year for the professional social network, reflecting the technology sector's broader trend. LinkedIn's revenue growth has slowed, with a 5% increase in Q4 of fiscal 2023, compared to 10% in the previous quarter. Microsoft attributes this decline to reduced hiring and advertising spending, prompting the company to streamline operations and remove layers for faster decision-making.

The Adani Group issued a statement regarding the recent allegation that TMC MP Mahua Moitra received bribes to target Gautam Adani's firms in parliamentary questions. An Adani spokesperson said the affidavit filed with CBI detailing an alleged criminal conspiracy corroborates their concern that some groups are working to damage their reputation. The complaint claims Moitra and a businessman orchestrated a plan to specifically go after Adani through questions in exchange for cash and favors. Another MP wrote to the Lok Speaker demanding probe and suspension of Moitra, highlighting 50 of her 61 questions targeted Adani. The Group said the alleged quid pro quo affirms their stand that an organized effort is underway to malign them.

The proposed India-UK free trade agreement should benefit India's labour-intensive sectors like apparel, footwear, carpets, and cars through the elimination of import duties, according to the Global Trade Research Initiative (GTRI). However, the overall impact on India is anticipated to be limited since a substantial portion of Indian goods already enters the UK with low or zero tariffs. In the fiscal year 2022-23, India's exports to the UK were valued at $11.41 billion, with roughly $6 billion worth of goods (including petroleum products, medicines, diamonds, machine parts, airplanes, and wooden furniture) enjoying duty-free access. The FTA is expected to have a more pronounced effect on products with moderate tariffs, such as textiles, apparel, and footwear.  

The India Property Show will take place on October 14-15 at the Hilton London Metropole Hotel. Organized by Maxpo Exhibitions in associations with CREDAI, the 2-day event will display multiple housing/commercial/plots / budget properties from India for all sections of people to choose. With over 5000 projects on display and home loan options from banks, the show provides attractive housing and investment opportunities. A significant aspect that all the projects on display are RERA approved besides funding institutions like banks extending home loans to the investors in the respective projects. The realty expo is coming at a time when prices have stabilized with flexible repayment options for investors.  Indian realty sector is slated to grow at 30% over the next decade for a market size of around $180 billion by 2022 from $93.8 billion in 2017. As of February 2023, Developers expect demand for office spaces in SEZs to shoot up after the replacement of the existing SEZs act.