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HDFC Bank disclosed to the stock exchanges that Deputy Managing Director Kaizad Bharucha has sought to exit, and the board and the GNRC recognized his more than three decades of service, including his role in building the bank's credit architecture. In the same filing, the bank approved the re-appointment of Lily Vadera as an Independent Director for a three-year term from November 26, 2026 to November 25, 2029, subject to shareholder approval. Vadera has over 34 years of central banking experience and retired as an RBI Executive Director in October 2020, where she headed the Department of Regulation. The bank said she is not related to other directors or key managerial personnel and is not barred from holding office by SEBI or any other authority.
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Berkshire Hathaway's BRK.A shares closed Friday at $798,000, just 1.4% below their all-time closing high of $809,350, while the B shares finished at $532.02. The recovery has been helped by CEO Greg Abel's $4.5 billion of buybacks in Q2, roughly $360 billion in cash, higher short-term interest rates, a quiet hurricane season, and a $19 billion Chevron stake that hit an all-time high. Berkshire also invested a further $330 million in Bending Spoons at $33 per share, and the stock closed at $47.07, 42.6% above that price. The shares had fallen more than 14% in the three months after Buffett's May 2025 announcement, as investors worried the 'Buffett premium' was dissolving.
- HDFC Bank reports 5 % increase in Q2FY27 standalone net profit at ₹19 , 510 crore
HDFC Bank reported a 5% year-on-year rise in standalone net profit for Q2FY27 to ₹19,510 crore, up from ₹18,641 crore a year earlier, as net interest income climbed 10% to ₹34,619 crore. Other income fell 4% to ₹13,831 crore, while provisions edged up 2% to ₹3,574 crore. Asset quality improved, with gross NPAs at 1.11% of gross advances (from 1.24%) and net NPAs at 0.37% of net advances (from 0.42%) as at September-end 2026. Total deposits grew 19% to ₹33,27,449 crore and advances rose 16% to ₹31,95,566 crore. Anup Bagchi, chief of ICICI Prudential Life Insurance, will take charge as MD & CEO for three years from October 27, 2026.
- Internet down: Google Cloud outage leaves websites including Lloyds Bank, Rightmove and DPD not working
A major internet outage appears to have taken down many websites and apps, including Lloyds Bank, HSBC, Screwfix, DPD and internet bank Revolut, according to Down Detector. At least some of the problems seem linked to Google Cloud, where Google confirmed issues with multiple services at its west Europe facilities and said there was no workaround. The article notes it is unclear whether all the disruptions are related. It also points out that cloud infrastructure providers such as Google Cloud, Cloudflare and Amazon Web Services are largely invisible yet support much of the internet, so an outage at one can knock out many seemingly unrelated services.
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Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
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