US tech giant Amazon has reportedly cut around 250 jobs in its devices and services division as it moves to streamline operations and align its workforce with product priorities.

The company confirmed the layoffs after notifying employees through early-morning emails and text messages, according to multiple reports.

Most of the affected employees worked in software development roles within Amazon’s devices and services division, which develops products such as Kindle e-readers, Alexa-enabled devices and other consumer electronics.

The layoffs come just weeks after Amazon unveiled new Kindle e-readers and tablet computers. The Seattle-based online retailer said it conducted “a thorough review structure” before deciding to eliminate the roles. On Wednesday, Amazon also launched a new alarm clock and photo frame powered by Alexa, its voice assistant.

The latest job cuts follow nearly 1,000 layoffs in Amazon’s retail division earlier this month. While the devices and services division develops consumer technology products, the retail business manages the company’s online shopping operations.

Amazon was scheduled to announce its quarterly financial results on Thursday (US time).

Global tech layoffs continue to accelerate in 2026. Companies have already cut more than 80,000 jobs in the first quarter, and total job losses could exceed 3 lakh this year, with Oracle, Amazon and Meta among the major companies leading the cuts.

Oracle began another round of layoffs in September as the software giant sought to reduce payroll costs. At the same time, the company continued committing tens of billions of dollars to expand its data-centre capacity and meet rising demand for artificial intelligence computing, according to reports.

Streaming giant Netflix cut nearly 1,000 jobs in October, affecting around 6 per cent of its workforce. The layoffs largely targeted employees in product, technology, legal and human resources teams.

Microsoft is offering voluntary buyouts to around 60,000 employees, roughly a quarter of its workforce, as the tech giant looks to reduce costs while investing heavily in artificial intelligence.

Portuguese football star Cristiano Ronaldo thanked fans worldwide after his maiden Ballon d’Or triumph in 2008 won the Ballon d’Or organisers’ B.O.A.T. (Best of All Time) poll, recognising the greatest winning campaign in the award’s history.

“Football belongs to the fans! Thank you to all the fans around the world; the Ballon D’Or of All Time is also yours,” Ronaldo wrote on social media on Thursday.

The Ballon d’Or organisers conducted the poll to invite football fans to choose the greatest Ballon d’Or-winning campaign of all time. Ronaldo’s 2008 victory topped the poll, while Argentine superstar Lionel Messi’s 2012 triumph secured second place.

Ronaldo won his first Ballon d’Or after delivering an outstanding 2007-08 season with Manchester United. The Portuguese forward scored 42 goals in 49 appearances across all competitions and helped the English club win both the Premier League and UEFA Champions League.

Ronaldo scored 31 goals in the Premier League to finish as the competition’s top scorer and help Manchester United secure their 17th league title. He also netted eight goals in the Champions League, finishing as the tournament’s leading scorer and helping United lift the trophy after beating Chelsea in the final.

The final ended 1-1 after extra time, with Ronaldo scoring United’s goal. Sir Alex Ferguson’s side eventually secured the title through a penalty shootout.

Ronaldo won the 2008 Ballon d’Or after finishing second behind Brazilian midfielder Kaká in the previous year’s voting. He became the third Portuguese player to claim the honour, following Eusebio in 1965 and Luis Figo in 2000.

The award marked a defining milestone in Ronaldo’s career, which began with his arrival at Manchester United as an 18-year-old in 2003 and eventually made him one of football’s most decorated players.

His 2008 triumph also preceded an era of individual dominance shared with Messi. Ronaldo has won the Ballon d’Or five times, while Messi holds the record with eight victories.

A life-size statue of Mahatma Gandhi has been unveiled in Bismarck, the capital of North Dakota, bringing together Indian-American community members and state officials to celebrate his message of peace and non-violence.

The Consulate General of India in Seattle described the monument as North Dakota’s first Gandhi statue. Officials unveiled it on October 29 at Peace Park in downtown Bismarck.

North Dakota First Lady Kjersti Armstrong, state Agriculture Commissioner Doug Goehring and India’s consul general in Seattle attended the ceremony. Officials from the Bismarck Parks and Recreation District also joined members of the state’s Indian-American community.

The Seattle consulate helped install the statue, while the Indian-American community in North Dakota and the North Dakota Trade Office provided technical support, according to a consulate release.

The ceremony began with the national anthems of the United States and India. School students from North Dakota then performed musical renditions of Gandhi’s favourite hymns.

The programme featured a rendition of “Vaishnav Jan To”, according to captions accompanying photographs released by the consulate. The photographs also showed Armstrong, Goehring and the consul general paying floral tributes to Gandhi.

Addressing the gathering, Goehring highlighted the growing ties between India and North Dakota. He said Gandhi’s message resonated with people across the state, India and the wider world, according to the release.

The agriculture commissioner called the statue a symbol of peace and non-violence and recalled Gandhi’s words, the consulate said.

Armstrong also expressed admiration for Gandhi and described celebrating his legacy as an honour. She said his message carried greater significance today than it had in a very long time, according to the consulate’s account of her remarks.

The statue stands at Peace Park, located at 400 East Front Avenue in central Bismarck. The consulate said the installation would further strengthen cultural and people-to-people ties between India and North Dakota.

The monument marks the fifth Gandhi installation within the Seattle consulate’s jurisdiction.

India has strengthened its engagement with North Dakota through several initiatives. The consul general visited the state in 2024 and 2026 and met the governor, Bismarck’s mayor and leaders from the agriculture, business and education sectors.

The consulate also organised a consular camp in Fargo in February 2026 and hosted International Day of Yoga activities there. Senior representatives of the North Dakota Trade Office also visited India earlier this year, according to the release.

Peace Park emerged shortly after the September 11, 2001, attacks. The park already houses a Peace Pole installed by the Gandhi Peace Network of North Dakota, along with several bronze sculptures.

Other Gandhi monuments within the Seattle consulate’s jurisdiction stand at Bellevue Public Library, installed in October 2009; near Seattle’s Space Needle, unveiled in October 2024; at Nebraska’s State Capitol in Lincoln, installed in December 2024; and at the University of Montana’s Mansfield Center in Missoula, installed in March 2026.

Zoho Chief Scientist and co-founder Sridhar Vembu said on Thursday that artificial intelligence (AI) could help businesses that previously could not afford software engineers and digital marketers hire such professionals as the cost of their services falls.

AI tools now allow a single worker to perform tasks that once required much larger teams, Vembu said, warning that this shift could trigger a painful economic rebalancing.

In a post on X, Vembu said that “any job performed on the computer” faces the risk of AI enabling one person to do the work of 10 people. He added that this risk is becoming increasingly real.

“This does not mean 90 per cent of people working on a computer will have no work at all. Industries that previously could not afford to hire software engineers or digital marketers could afford them now,” he said in the post.

Vembu said the broader impact could bring painful changes across the economy. He urged people to accept the coming shift and prepare for its consequences.

Earlier this month, the Zoho co-founder said the company had reduced its marketing budget and advised employees not to expect their usual pay increases this year.

He also highlighted the uncertain outlook for the software industry, saying AI had significantly increased operating costs.

Vembu noted that server prices for data centres had quadrupled, while rising AI adoption continued to drive up expenses. He said Zoho was working to control these costs.

In May, Vembu warned that soaring valuations of the world’s largest technology companies, driven by investor enthusiasm for artificial intelligence, showed signs of a market bubble that could surpass the dot-com era.

The makers of the upcoming epic film ‘Ramayana: Part 1’ have announced November 5, 2026, as its worldwide release date, ahead of Diwali.

On Sunday, the makers took to Instagram to unveil a new ensemble poster featuring Ranbir Kapoor as Lord Rama, Sai Pallavi as Sita, Ravi Dubey as Lakshman and Rocking Star Yash as Ravana. They also confirmed that the first instalment of the two-part epic will hit theatres worldwide on November 5, 2026.

In their Instagram caption, the makers wrote, “On the auspicious occasion of Navratri, we celebrate the beginning of a new era. Yeh Ram ke Yug ka Aarambh hai. Namit Malhotra’s Ramayana Part 1: In cinemas WORLDWIDE, across all premium formats, from 5th November. Advance bookings open on Dussehra”.

The announcement marks the beginning of a new era with the message, “Yeh Ram Ke Yug Ka Aarambh Hai,” and confirms that advance bookings will open on Dussehra.

Nitesh Tiwari directs the film, while Namit Malhotra’s Prime Focus Studios produces it in collaboration with eight-time Oscar-winning visual effects company DNEG and Yash’s Monster Mind Creations. The makers have envisioned ‘Ramayana’ as a two-part epic, with Part 1 arriving worldwide on November 5, 2026, and Part 2 scheduled for Diwali 2027.

The films will release across India in Hindi, Tamil, Telugu, Kannada and Malayalam.

The project blends Indian mythology with large-scale visual effects, featuring a musical collaboration between A.R. Rahman and Hans Zimmer. The makers aim to deliver an immersive cinematic experience, making the film one of the most anticipated releases in Indian cinema.

The film will also screen in IMAX. Sony Pictures will handle global distribution, while Dharma Productions will distribute the film across the Hindi-speaking market.

The government on Thursday extended the ‘New Amnesty Scheme 2025’ until December 31, 2026, giving employers and insured persons additional time to resolve pending cases.

Following a review of representations from various stakeholders, the Employees’ State Insurance Corporation (ESIC) extended the scheme by three months, from October 1 to December 31, 2026. The scheme initially ran from October 1, 2025, to September 30, 2026, under the existing terms and conditions.

The New Amnesty Scheme 2025 offers a one-time dispute resolution mechanism to reduce the backlog of court cases and improve compliance under the erstwhile Employees’ State Insurance (ESI) Act.

The scheme enables employers to settle legal disputes with ESIC outside court through a structured process. It also supports the government’s broader objective of improving the ease of doing business while protecting the rights of citizens covered by ESIC.

Under the scheme, employers can settle ad hoc assessments by paying actual contributions and interest without incurring damages. Employers who have already paid their dues can seek the withdrawal of pending cases by paying 10 per cent of the disputed damages. The scheme also allows ESIC to withdraw cases involving the non-submission of records or delayed payments when employers subsequently comply with the requirements, subject to court approval.

An official statement said the scheme covers court cases filed up to March 31, 2025.

The extension gives eligible employers and insured persons more time to benefit from the scheme. The Labour Ministry urged all concerned stakeholders to use the extended window before it closes on December 31, 2026.

Meanwhile, Union Labour and Employment Minister Mansukh Mandaviya recently said ESIC provides health security to 25 crore people across India.

Several countries are increasingly using local currencies for cross-border trade instead of relying on the US dollar for international transactions. A new report suggests that this trend could gradually weaken the dollar’s dominant position in the global financial system.

The use of local currencies in international transactions continues to grow, with Asia emerging as one of the most active regions in developing local currency transaction (LCT) arrangements.

Indonesia has established LCT partnerships with Malaysia, Thailand, China, Japan, South Korea and the United Arab Emirates, while it continues to explore cooperation with other countries, according to an article in India Narrative.

Bank Indonesia reported that transactions under its LCT framework reached $49.4 billion through August 2026, compared with $25.7 billion for the whole of 2025. This means that transactions in the first eight months of 2026 had already approached twice the previous year’s total.

Beyond Southeast Asia, China is promoting the internationalization of the renminbi through bilateral trade agreements and cross-border payment systems. BRICS members are also exploring ways to use their national currencies to facilitate trade among participating countries, the article noted.

In Europe, businesses increasingly use the euro for intra-European trade, making it an important part of regional economic integration. Latin America has a long history of regional trade and local payment arrangements, including bilateral and regional mechanisms. Meanwhile, Africa has developed the Pan-African Payment and Settlement System (PAPSS) to facilitate cross-border payments in local currencies.

The article identifies several factors driving the growing interest in LCT arrangements. First, businesses can reduce currency conversion costs by avoiding the need to route transactions through the US dollar. Second, local currency settlements can help businesses manage certain foreign exchange risks, although the benefits depend on market liquidity and exchange-rate movements.

Geopolitical concerns and the need for economic resilience also play an important role. Trade tensions, financial sanctions and uncertainty over the policies of major economies have prompted governments to diversify their currency arrangements and seek greater flexibility in managing international trade and financial relationships.

The expansion of LCT arrangements goes beyond efforts to reduce dependence on the US dollar. It also has strategic implications for American economic interests. As more countries settle bilateral trade in their own currencies, demand for dollars in certain segments of the international transaction market could gradually decline, the article observed.

Over the longer term, this shift could affect global demand for US financial assets, including Treasury securities, and potentially reduce some of the advantages the United States enjoys from the dollar’s dominant international role, the article added.

Shares of Reliance Industries’ digital and telecom subsidiary, Jio Platforms Ltd, made a strong debut on the NSE and BSE on Wednesday after its Rs 30,213-crore initial public offering (IPO).

Jio Platforms shares opened at Rs 1,358 apiece on both exchanges, marking a 21.36 per cent premium over the issue price of Rs 1,119 per share. Following the listing, the company’s market capitalisation crossed Rs 12.5 lakh crore, making it India’s second-largest listed company.

India’s biggest IPO attracted strong investor demand, with overall subscriptions reaching 22.19 times the shares on offer. Qualified institutional buyers led the bidding, subscribing to 70.55 times their allotted portion.

Investors will now assess whether Jio Platforms can sustain revenue growth, improve profitability and execute its expansion plans while maintaining healthy cash flows. Despite its strong opening, the shares traded nearly flat.

Brokerage firms Nomura, Motilal Oswal Financial Services and Elara Securities initiated coverage of Jio Platforms shares with ‘Buy’ ratings.

Nomura said Jio had evolved from a disruptor into a market leader. The company commands 42 per cent of India’s wireless subscribers, accounts for 60 per cent of data traffic and holds a 43 per cent share of the home broadband market.

“In our view, the listing will likely push Jio Platforms, the price setter, towards steady tariff hikes that peers can follow. We estimate a 13.5 per cent EBITDA CAGR over FY26-29,” Nomura said.

The brokerage initiated coverage of Jio Platforms with a ‘Buy’ rating and set a target price of Rs 1,340.

Motilal Oswal expects rising profitability and controlled capital expenditure to generate cumulative free cash flow (FCF) of Rs 1.46 lakh crore over FY26-29. The brokerage also expects Jio Platforms to achieve a net cash position by FY29. It initiated coverage with a ‘Buy’ rating and set a target price of Rs 1,350.

Motilal Oswal believes Jio Platforms could trade at a premium to Bharti Airtel’s India business in the near term. It attributed this potential premium to Jio’s market leadership, greater influence over industry tariffs and limited share liquidity, with a free float of less than 3 per cent.

Aditya defeated Russia’s Islam Magomedov 4:1 on points in the men’s 55kg final to win gold at the U19 World Boxing Championships in Budva, Montenegro, on Tuesday.

Aditya secured India’s first gold medal at this edition of the U19 World Boxing Championships. India have also secured two bronze medals.

Aditya reached the final by defeating Azerbaijan’s Nihat Gasimov in the men’s 55kg semifinals. The Asian U-19 silver medallist dominated all three rounds and earned a unanimous 5:0 verdict from the judges to book his place in the final against Magomedov.

Megha Sheokand also secured a place in the women’s 80kg final after defeating Kyrgyzstan’s Meerim Chynybekova by referee-stopped contest (RSC) in the semifinals on Sunday. Sheokand dominated the opening round, and Chynybekova received three counts in the second round before the referee stopped the bout.

Harshika won bronze in the women’s 65kg category after a closely contested semifinal against USA’s Lauryn Elmore. Despite putting up a strong fight, Harshika lost 3:2 on the judges’ scorecards.

Prachi Tokas also claimed bronze in the women’s 80+kg category after losing 1:4 to Russia’s Samira Itonieva in the semifinals.

Earlier on Saturday, Harshita assured India of another medal by defeating Ireland’s Grace Bailey 5:0 in the women’s 65kg quarterfinals to advance to the semifinals.

Mandeep Singh scored a hat-trick, while Harmanpreet Singh, Dilpreet Singh and Hardik Singh netted twice each as the Indian men’s hockey team launched their title defence at the Asian Champions Trophy Punjab 2026 with a commanding 13-0 victory over Bangladesh at the Olympian Surjit Singh Hockey Stadium in Jalandhar on Tuesday.

Mandeep completed his hat-trick in the 3rd, 10th and 54th minutes. Captain Harmanpreet (2′, 44′), Dilpreet (43′, 44′) and Hardik (60′, 60′) scored two goals each. Shilanand Lakra (15′), Abhishek (18′), Nilakanta Sharma (26′) and Jugraj Singh (46′) also found the net for India.

The evening took an emotional turn when Nilakanta announced his retirement from international hockey, confirming that the tournament would mark his final appearance in the Indian jersey.

India made an aggressive start and earned a penalty corner in the second minute. Captain Harmanpreet converted it with a powerful drag-flick to open the scoring. A minute later, Mandeep collected Harmanpreet’s pass at the top of the circle and fired a reverse-hit into the net to double India’s lead. Bangladesh threatened in the fourth minute, but Lakra cleared the ball to deny them a scoring opportunity.

Mandeep struck again in the 10th minute, finishing from close range after Harmanpreet’s aerial pass reached Abhishek, who then directed the ball into the circle. Lakra added India’s fourth goal in the 15th minute after a well-worked move involving Sukhjeet Singh and Aditya Arjun Lalage.

India maintained their attacking momentum in the second quarter. Abhishek made it 5-0 in the 18th minute after receiving Mandeep’s pass on the left, creating space inside the circle and finding the net. Nilakanta extended the lead in the 26th minute with a reverse-stick shot from the top of the circle.

Bangladesh goalkeeper Ashraful Shad produced an excellent save to deny Nilakanta earlier in the quarter. However, India carried a comfortable 6-0 lead into half-time.

Bangladesh held possession for longer periods in the third quarter, but India continued to create scoring opportunities. Dilpreet converted a penalty corner in the 43rd minute and scored again from open play a minute later. Harmanpreet then converted another penalty corner in the 44th minute to extend India’s lead to 9-0.

India continued their scoring spree in the final quarter. Jugraj converted a penalty corner in the 46th minute to make it 10-0. Mandeep completed his hat-trick in the 54th minute, stretching to redirect Aditya’s cross into the net.

India kept pressing for more goals in the closing stages. Hardik scored in the 60th minute after Bangladesh blocked an initial penalty-corner attempt. Moments later, he struck again to complete India’s 13-0 rout. The move began with Harmanpreet passing to Dilpreet, who laid the ball off for Hardik to guide it into the net. Indian supporters celebrated the emphatic victory by waving the national tricolour in the stands.

Earlier, a glittering opening ceremony marked the return of international hockey to Punjab. Punjab Chief Minister Bhagwant Mann unveiled the Hero Asian Champions Trophy Punjab 2026 trophy.

Bhola Nath Singh, Vice President of the Asian Hockey Federation and Secretary General of Hockey India, and Nitin Kohli, President of Hockey Punjab and Associate Vice President of Hockey India, felicitated him at the ceremony.

The celebrations featured traditional Punjabi dance forms, including Bhangra and Giddha, alongside performances by Gatka exponents showcasing the Sikh martial art. Punjabi singer Ninja also entertained the crowd, while a musical performance and fireworks added to the festivities as Jalandhar welcomed Asia’s leading hockey teams.

In the other opening-day matches, Malaysia edged China 5-4, while Japan defeated South Korea 3-2. India topped the standings after the first day with three points and a goal difference of +13.

The six-team tournament follows a single round-robin format, with every team facing the other five sides once. The top four teams at the end of the league stage will advance to the semi-finals.

India will next take on China on October 29 at 7 pm IST. The tournament schedule includes a rest day on October 28. Jalandhar will host all league matches until November 2, after which the competition will move to the Olympian Balbir Singh Senior International Hockey Stadium in Mohali.

The venue will host the semi-finals on November 4, followed by the bronze-medal and gold-medal matches on November 5.