Lucid Layoffs: EV Maker Trims 18% Of US Workforce; COO Marc Winterhoff Departs

In an effort to increase profitability in the face of intensifying competition, EV manufacturer Lucid Group said on Monday that it will lay off roughly 18% of its US personnel and that COO Marc Winterhoff has departed the firm. This was the company's second significant managerial move in recent months.

The company's shares were down almost 4%, as reported by Reuters.

The layoffs reflected the growing pressure on EV manufacturers like Lucid to control expenses as buyers move towards more affordable models and as profitability is impacted by growing competition from both established automakers and recent arrivals.

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The company, which employed over 9,000 people worldwide as of Dec. 31, 2025, stated that hourly factory workers, contractors, and full-time staff will all be impacted by the reduction. Additionally, it eliminated the second shift at its main EV production plant, the AMP-1 factory in Arizona.

In an effort to save money in a sector known for high spending, Lucid laid off 12% of its American workers in February 2026.

The EV manufacturer has been dealing with operational difficulties, such as a supplier-related problem that caused the delivery of its Gravity SUV to be delayed in February. The corporation halted its 2026 output forecast last month to conduct a business assessment.

While a robotaxi deployment through collaborations with Uber, the manufacturer has been relying on its Gravity SUV and future mid-size vehicle platform to drive growth.

According to Lucid, the restructuring will save about $158 million in yearly costs while costing roughly $32 million in severance and other employee-related expenses.

After Peter Rawlinson resigned from the position in February 2025, Winterhoff took over as Lucid's temporary CEO for more than a year. Silvio Napoli, a former head of Schindler, was named CEO of the EV manufacturer in April.

ALSO READ | EVs Kickstart FY27 On Top Gear As April Registrations Jump Over 40%

The manufacturer of all-electric cars said that its strategy will result in yearly cost savings of about $158 million, as reported by CNBC.

Due to slower-than-expected EV adoption and shifting restrictions under the Trump administration, such as the removal of a $7,500 federal incentive for buying an EV, Lucid and its electric car competitors are confronting a more difficult market than they have in recent years.

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FIFA WC Live: Iran Face Belgium Amid 'Mistreatment' Allegations From Manager

Belgium vs Iran LIVE Updates, FIFA World Cup 2026: Belgium and Iran square off in a must-win clash at the Los Angeles Stadium, knowing victory is vital to keeping their FIFA World Cup 2026 knockout dreams alive. While Belgium were held to a frustrating 1-1 draw by Egypt in their Group G opener, Iran showed immense grit to rescue a point against New Zealand after trailing twice. This marks only the second senior men's international meeting between the two nations, following Belgium's narrow 1-0 group-stage victory at the 2022 World Cup in Qatar. (MATCH CENTRE LIVE)

Belgium vs Iran LIVE Score, FIFA World Cup 2026 LIVE Updates | BEL vs IRN LIVE, straight from Los Angeles Stadium:

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Mumbai To Finally Get Proper Monsoon Rains From June 22? Check IMD Forecast

After days of hot and humid weather, Mumbai is likely to see a significant change in conditions from Monday (June 22) onwards, with rainfall activity expected to increase across the city.

According to the India Meteorological Department (IMD), Mumbai is expected to experience hot and humid conditions along with the possibility of light rain or thundershowers till June 20. However, weather conditions are forecast to become more active from June 21, with light to moderate rainfall and thunderstorms likely in several areas. The IMD has issued a yellow alert for Mumbai, warning of thunderstorms accompanied by lightning, light to moderate rainfall and gusty winds reaching speeds of 30-40 kmph at isolated places on June 22 and June 23.

Mumbai and Konkan region are likely to witness a noticeable shift in weather patterns over the next 48 hours. Increased moisture inflow is expected to strengthen rain activity from Sunday night, leading to more widespread showers across the region.

So finally Mumbai & Konkan will undergo a weather change next 48 hours (21-22 June). Starting Sunday night, the moisture pull will begin showing its effects over #MumbaiRains increasing rain activity across the region.

This is the news rain lovers have been waiting for.. a very… pic.twitter.com/yWtEh2OYoD

— Mumbai Rains (@rushikesh_agre_) June 19, 2026

Rainfall Likely To Intensify Beyond Mumbai

Meanwhile, neighbouring districts are also expected to witness a gradual increase in rainfall activity over the coming days. Palghar, Thane and Raigad are likely to experience hot and humid conditions along with light rain or thundershowers until June 20. Rainfall is expected to intensify from June 21 onwards, with light to moderate showers forecast across the region. 

Mumbai Water Crisis

Amid a delayed monsoon and water shortages in parts of Mumbai, water tanker prices have surged after the Brihanmumbai Municipal Corporation (BMC) cut water supply across several areas. Currently, non-potable water costs Rs 1,800 to Rs 2,000 from Rs 1500-1800 per 10,000 litres, up 10-30%. Potable water costs Rs 2,500-3,500 from Rs 2300-3300 per 10,000 litres, a 6-25% hike.

ALSO READ: Mumbai Water Tanker Prices Surge Up To 30% Amid Water Shortage, Delayed Monsoon

 According to the latest data released by the Brihanmumbai Municipal Corporation (BMC) on June 20, water level in Mumbai lakes have dipped below 10% with current live storage denoting 9% useful content of live storage left on June 20. Total water storage across the lakes has dipped by over 60% as compared to last year

ALSO READ: Only 9% Water Left In Mumbai Lakes; Will Upcoming Monsoon Rains Be Enough?

Monsoon Likely to Advance Further In Maharashtra

Weather conditions are becoming favourable for the further advance of the southwest monsoon into more parts of Maharashtra around June 23, according to the latest forecast. The development is expected to bring increased rainfall activity across several regions of the state in the coming days.

Rainfall Activity Expected To Increase

The weather department has forecast isolated to scattered rainfall over Madhya Maharashtra and Marathwada between June 20 and June 25. Konkan is also likely to witness increased rain activity over the next few days.

Parts of Madhya Maharashtra may experience thunderstorms accompanied by lightning and gusty winds with speeds of 40-50 kmph, gusting up to 60 kmph between June 22 and June 25.

Temperatures Likely To Dip After June 20

While no significant change in daytime temperatures is expected across Maharashtra until June 20, the IMD has forecast a gradual drop of 2-3 degrees Celsius thereafter.

Hot and Humid Conditions very likely to prevail at isolated pockets in the districts of South Konkan-Goa.
Heat wave conditions very likely to prevails at isolated pockets in the districts of North Konkan , Madhya Maharashtra , Marathwada .

— Regional Meteorological Center,Mumbai (@RMC_Mumbai) June 19, 2026

Southwest Monsoon 2026 Update

As per IMD's latest weather bulletin, the Northern Limit of Monsoon continues to pass through 18°N/60°E, 18°N/65°E, 18°N/70°E, Harnai, Solapur, Hyderabad, Bhadrachalam, Koraput, Phulbani, Ranchi, Jamui, Muzaffarpur and 28.3°N/83°E.

Conditions are favourable for further advance of southwest monsoon into some more parts of central Arabian Sea, Maharashtra, remaining parts of Karnataka, Telangana, Odisha, Jharkhand & Bihar, and some parts of Chhattisgarh during next 4-5 days

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Lionel Messi Faces Massive Off-Field Challenge, Family Shuts Down Rumours

Lionel Messi's father, Jorge Messi, is currently going through a health-related situation and is under medical supervision, recovering and progressing well, informed the football icon's family on Thursday. During his side's FIFA World Cup campaign opener for defending Argentina against Algeria on Wednesday, Messi was seen in tears after scoring, which he later said was because of "something unrelated to the game". "It was something totally unrelated to sport. I had some difficult, complicated days. I am grateful to the whole delegation, to all my teammates, because they were always by my side, as always, giving me a lot of strength," Messi said after the game. Messi's family has clarified that Messi's father is not in good health, but is "recovering and progressing well" under medical supervision.

A statement from the family, according to 433, read, "The Messi family informs that Jorge Messi is currently going through a health-related situation. At this time, he is under medical supervision, recovering and progressing favourably within the condition he is experiencing."

"In light of the reports, rumours, and speculation that have circulated in recent hours, the family wishes to express its deep discomfort with the lack of sensitivity, respect, and discretion with which some people have treated what is strictly a private family matter," the statement continued.

"The family also wishes to clarify that only his closest relatives have real and accurate information regarding Jorge's condition. Therefore, any version, statement, or information that does not come directly from the family and its official channels should not be considered valid or truthful," the statement added.

Messi's family asked everyone for "responsibility, prudence, and humanity".

"A person's health and the peace of mind of those around them should not be the subject of speculation or irresponsible media interest. We sincerely appreciate the expressions of affection, respect, and concern we have received, and we ask that Jorge's privacy, confidentiality, and intimacy--as well as that of his entire family--be respected throughout this process. Any relevant updates will be communicated in due course by the family and through the appropriate channels. Thank you for your understanding," said the statement cited by 433.

With his first-ever FIFA World Cup hat-trick on the day (June 16) when he had made his FIFA WC debut 20 years back, Messi tied with Miroslav Klose (16) for the joint-most goals in FIFA World Cup goals. He also earned his 200th cap for Argentina.

Argentina will now next play Austria on June 22 in Texas.

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'We Were Told Not To Take Sunny-Dimple's Pics Together,' Reveals Paparazzo

Veteran paparazzo Ramakant Munde shared inside details of how photographers accessed celebrities before paparazzi culture and social media began.

Recalling an unwritten rule from that era, Munde said they were told not to photograph Dimple Kapadia and Sunny Deol together. Dimple Kapadia and Sunny Deol were rumoured to be in a relationship, though they never acknowledged it publicly.

"Sometimes they would be together on a film set, at an event, or during a function. But they didn't like getting photographed together. Everyone in the media knew this," Ramakant Munde told Hindi Rush.

Munde recalled that instructions would come whenever the two were present at the same location.

"There was a message among photographers that if they were together, we shouldn't take pictures. Usually someone from their team would come and tell us, or there would be a signal indicating that photographs were not wanted," he said.

In an era before omnipresent paparazzi and social media, there was hardly anything about celebrities that remained hidden from the public.

Talking about the changing media landscape, Munde commented, "There wasn't that kind of demand. What sold in those days were beautiful photographs — good costumes, jewellery, makeup and glamorous looks. Publishers preferred aesthetically pleasing pictures."

"Today, people are interested in every aspect of a celebrity's personal life. But at that time, photographs of who was meeting whom didn't have the same value," he added.

Sunny Deol and Dimple Kapadia: Relationship rumours

Back in 2017, a viral video showed Dimple and Sunny holidaying in London; in the clip they were seen holding hands, which sparked chatter on X.

In 2023, Dimple Kapadia watched Gadar in theatres. She hid her long hair under a cap and posed for the paparazzi.

Dimple Kapadia and Sunny Deol co-starred in films such as Manzil Manzil, Arjun, Aag Ka Gola and Narasimha.

Several media reports have claimed that Sunny Deol, despite being married, treated Dimple Kapadia as a wife and was a factor in the actress' separation from the late actor Rajesh Khanna. However, neither of them ever acknowledged the rumoured romance.

Dimple Kapadia married superstar Rajesh Khanna in 1973, a few months before the release of her debut film Bobby. Their first child, daughter Twinkle Khanna, was born in 1974 and Rinke was born in 1977. The couple separated in 1984 but never divorced.

Sunny Deol is married to Pooja Deol and is the father of two sons — Karan and Rajveer.

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Defence Stocks Rally In Trade As India's Defence Production Touches All-Time High

Defence stocks rallied sharply on June 17, with broad-based gains across the sector as India's defence production reached an all-time high of Rs 1.78 lakh crore in the Financial Year (FY) 2025-26, marking a significant milestone in the country's push towards self-reliance in defence manufacturing.

Paras Defence emerged as the top gainer, surging 12.89%, followed by Astra Microwave Products, which advanced 7.72%, and MTAR Technologies, up 6.99%. Data Patterns gained 4.81%, while Bharat Dynamics rose 4.39%.

Among the public sector defence names, Garden Reach Shipbuilders climbed 3.67%, Hindustan Aeronautics Ltd. (HAL) added 3.51%, and Cochin Shipyard gained 3.39%. Mazagon Dock Shipbuilders rose 2.43%, while Mishra Dhatu Nigam and DCX Systems advanced 2.14% and 1.84%, respectively. Bharat Electronics Ltd. (BEL) gained 1.58%, and IdeaForge Technology rose 1.29%. Bharat Forge was the laggard within the pack, up 0.46%.

The record output represents a 15.6% increase compared to the previous fiscal year, when defence production stood at Rs 1.54 lakh crore. It also reflects a remarkable 110% growth from FY 2020-21, when production was valued at Rs 84,643 crore. Compared to FY 2013-14, indigenous defence production has increased nearly fourfold from Rs 43,746 crore, said the Ministry of Defence.

Defence Public Sector Undertakings (DPSUs) and other public sector units contributed around 76% of the total defence production, while the private sector accounted for 24%.

The private sector's contribution reached an all-time high of approximately Rs 42,000 crore in FY 2025-26, rising from 22% in the previous fiscal year.

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Peddi Box Office Day 13: Film Holds Steady Despite Screen Reduction

Ram Charan's Peddi continues to enjoy a strong run at the box office, maintaining its momentum well into the second week despite a reduction in screens. The film's total India net collection has now reached Rs 221.24 crore, while its India gross stands at Rs 262.30 crore, according to Sacnilk live estimates.

Language-Wise Performance

As of Day 13, Peddi is running across 1,866 shows nationwide. The Hindi version has collected Rs 0.21 crore from 768 shows, recording 14% occupancy.

The Telugu version continues to drive the film's business, contributing Rs 0.93 crore net from 1,098 shows while registering 22% occupancy.

Occupancy Trends

The film recorded an overall occupancy of around 18.7% on Day 13 based on morning shows.

The Telugu version reported 15.69% occupancy in morning shows. Among major centres, Warangal and Chennai led the occupancy chart with 38%, followed by Visakhapatnam at 30%. Guntur recorded 23% occupancy, while Hyderabad stood at 16%.

Nizamabad registered 14% occupancy, Karimnagar posted 13%, Vijayawada and Kakinada reported 12% each, while Bengaluru recorded 8%.

The Hindi version recorded an overall morning occupancy of 6.67%.

ALSO READ: Malayalam, Tamil, Telugu OTT Releases This Week: Drishyam 3, Kenatha Kanom, Save The Tigers 3

Among key markets, NCR emerged as the strongest centre with 12% occupancy, followed by Jaipur at 11% and Bhopal at 10%. Lucknow, Mumbai and Chandigarh recorded 8%, while Pune stood at 7%.

Kolkata posted 6% occupancy, while Ahmedabad and Surat recorded 4% each.

Box Office Journey So Far

Peddi opened with Rs 18.50 crore in previews and collected Rs 51 crore on its first day. The film wrapped up its opening week with a strong Rs 193.55 crore net collection in India.

In its second week, the film added Rs 5.15 crore on Day 9, Rs 8.10 crore on Day 10 and Rs 9.20 crore on Day 11 before collecting Rs 4.10 crore on its second Monday.

About The Film

Set in rural Andhra Pradesh during the 1980s, Peddi follows a spirited villager who brings his community together through sports to protect their pride against a powerful rival.

The film is directed by Bucchi Babu and stars Ram Charan, Janhvi Kapoor, Divyendu Sharma, Jagapathi Babu and Shivarajkumar in key roles.

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Restaurant Recovery: Macquarie Has Picked Winners, And Jubilant Isn't On The List

India's quick-service restaurant (QSR) industry is showing early signs of demand recovery, but Macquarie highlights rising costs and intensifying competition from food-delivery aggregators as reasons for its cautiousness. According to Macquarie, post-fourth-quarter trends indicate a gradual improvement in dine-in demand across restaurant chains. Within the sector, Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld.

However, the recovery remains uneven and is being overshadowed by inflationary pressures and the growing dominance of delivery platforms such as Zomato and Swiggy.

The brokerage said same-store sales growth across the listed QSR universe is tracking broadly in line with or slightly ahead of fourth-quarter levels. However, restaurant brands continue to trail delivery aggregators in growth, highlighting a structural shift in consumer behaviour.

To counter this trend, restaurant operators have increasingly turned to targeted discounting and value offerings aimed at attracting customers back into dine-in formats. While these initiatives could help improve footfalls, Macquarie believes they may also weigh on profitability if sustained for longer periods.

ALSO READ: 'Better Than What You Eat At Home': McDonald's India Defends Its Menu

Devyani, Sapphire and Westlife Preferred

Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld. The brokerage cited their exposure to the KFC and McDonald's formats, strong operating leverage and potential earnings upside from an eventual recovery in discretionary spending.

Devyani, in particular, could benefit from a turnaround in the Pizza Hut business following the merger of Yum franchise operations, Macquarie said.

By contrast, the brokerage remains cautious on Jubilant FoodWorks. It believes pressure on like-for-like sales growth could persist for several quarters due to a high base and the need for continued investments in dine-in recovery, risks that it believes are not fully reflected in current valuations.

ALSO READ: KFC Pulling Customers Away From Ordering Online? Here's What We Know

Inflation Remains a Key Concern

The brokerage highlighted that rising raw material costs and broader inflationary pressures continue to weigh on consumer sentiment and discretionary spending. As a result, Macquarie expects the recovery in same-store sales growth to be more gradual than previously anticipated.

This cautious view has prompted the brokerage to cut earnings estimates across its restaurant coverage universe. Forward EPS estimates for FY28 and FY29 have been reduced by 3-7%, while target prices have also been trimmed. The brokerage said earnings downgrades were amplified because lower profit bases lead to a greater flow-through impact on bottom-line estimates.

ALSO READ: Pricier Pizza, Slower Growth: Jubilant Foodworks' Q4 Leaves Brokerages Hungry For A Turnaround

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Livano Comenencia: Know All About Curacao's 1st FIFA World Cup Goal-Scorer

Curacao, playing their first FIFA World Cup match and up against giants Germany, conjured a courageous act that will be spoken about in the days to come. By the sixth minute, Curacao were down 0-1, with Felix Nmecha slotting one home in style. What followed was a period of complete domination by the four-time winner. Curacao defended with their lives as Germany raided the Curacao box in hordes.

The reply came in the 21st minute as a counter-attack caught Germany's defence napping, and one of the youngest players of the squad - Livano Comenencia, all of 22 - forever entered the sporting folklore of the Dutch Caribbean island. Comenencia is now the first goal-scorer in a FIFA World Cup for Curacao.

Comenencia was born in the Netherlands and was a youth international for the Netherlands. He even played for Netherlands U18s. In October 2024, he first played for Curacao's senior team. He currently plays for Swiss Super League club Zurich in Switzerland. Earlier, he has played for Juventus Next Gen, the reserve team of Juventus, and Jong PSV.

On Sunday, the island nation of 150,000 people became the smallest country ever to compete at the FIFA World Cup.

🚨🌎 LIVANO COMENENCIA HAS EQUALIZED F0R CURACAO! INCREDIBLE! 🤯

Germany 1-1 Curacao.pic.twitter.com/7iakhA3xY5

— football updates (@The90Minsfeed) June 14, 2026

Coach Dick Advocaat has done his best to keep his players focused and relaxed as they navigate this unprecedented experience.

"Just be yourself, and don't be nervous," defender Shurandy Sambo said Advocaat told them, just before the team left its Florida base camp for Houston. "Of course everybody is excited, but just be yourself, show yourself, because this is the biggest stage."

The Curacao players have worked hard to ensure they are prepared for their debut. Germany, making its 21st appearance in the World Cup, is a heavy favorite.

"We've watched a lot of clips of Germany, how they play, what they can do," Sambo said.

Advocaat said there is more pressure on teams like Germany that are considered favorites and that his team has "everything to win and nothing to lose."

He's confident that Curacao is ready for the challenge of facing Germany, which he referred to as a towering contender.

"We are a minor, very small country compared to Germany, and we're going to make life very difficult for them," he said. "We're going to be a very unpleasant team to play."

Curacao's squad is representing a country that rarely has a chance to have moments as big as this on international sports stages.

Due to its strong Dutch ties, Curacao is not recognized in the Olympics as its own nation, and despite its impressive per-capita production of professional baseball athletes, Curacao players represent the Netherlands at the World Baseball Classic.

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T20 Mumbai 2026 Final Live Streaming: How To Watch ARCS Andheri vs MSC Maratha Royals Matc

ARCS Andheri and MSC Maratha Royals are all set to face each other in the summit clash of the T20 Mumbai League 2026 at the Wankhede Stadium in Mumbai. 

After a thrilling campaign featuring some of Mumbai cricket's most promising names, the two teams will battle it out for the coveted title.

ARCS Andheri have enjoyed a strong run in the tournament, with players like Shivam Dube and Divyaansh Saxena playing crucial roles in their journey to the final. The side finished the league stage strongly and will look to deliver one final big performance.

MSC Maratha Royals, meanwhile, will enter the contest with confidence, having already beaten ARCS Andheri earlier in the tournament. In their previous meeting, MSC Maratha Royals chased down 169 runs to secure a five-wicket victory, powered by Ayaz Khan's match-winning 87-run knock.

MSC Maratha Royals, who are the defending champions, will look forward to secure consecutive titles after winning the 2025 final against Sobo Mumbai Falcons.

The final between ARCS Andheri and MSC Maratha Royals will begin at 7:00 PM on June 13, 2026.

ALSO READ: How To Watch ICC Women's T20 World Cup 2026 Live? Check Broadcasters, TV Channels And Live Streaming Details

T20 Mumbai 2026 Final: How To Watch ARCS Andheri vs MSC Maratha Royals On TV?

The T20 Mumbai 2026 Final ARCS Andheri vs MSC Maratha Royals match will be telecast live on the Star Sports Network. 

T20 Mumbai 2026 Final: How To Watch ARCS Andheri vs MSC Maratha Royals On Online

Fans can watch the livestream of the T20 Mumbai 2026 Final ARCS Andheri vs MSC Maratha Royals on the JioHotstar app and website. 

T20 Mumbai 2026 Final: ARCS Andheri vs MSC Maratha Royals  Squads

ARCS Andheri Squad: Siddid Tiwari, Pragnesh Durgesh Kanpillewar, Divyaansh Saxena, Deepak Bhaskar Shetty, Himanshu Vinod Singh, Ajay Bainkteshwar Mishra, Hrishikesh Bhushan Gore, Ashutosh Ghagre, Arjun Sachin Tendulkar, Gaurav Ashok Jathar, Karthik Shaji Kumar, Ayush Jethwa, Prasoon Angad Singh, Musheer A. N. A. Khan, Rishi Sandip Shah, Shivam Dube, Kiaan Dipen Parekh, Prasad Yashwant Pawar, Moin A. N. Ahmed

ALSO READ: Women's T20 World Cup 2026: Schedule, When And Where To Watch, Standings, Groups, Squads And More

Mumbai South Central Maratha Royals: Ayaz A. A. A. Khan, Chinmay Rajesh Sutar, Swaraj Parulkar, Pratik Praveen Shukla, Sachin Madhukar Yadav, Shreyanssh Rai, Om Ramdas Bangar, Siddhesh Dinesh Lad, Shreyas Gurav, Irfan Umair, Jitendra Rajendra Paliwal, Tushar Deshpande, Aryan Rajesh Patni, Yash Ajay Gadia, Aditya Sanjay Dhumal, Arjun Amit Dani, Maxwell David Swaminathan, Atharva Sanjay Bhosale, Rohan Ravindra Raje, Sahil Bhagwanta Jadhav

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Rolex Hikes Gold Watch Prices Second Time In A Row, But Luxury Buyers Stay Unfazed

Rolex increased the price of its gold watches by an average of 5% this month, adding an unusual second annual increase to its major markets, which include the United States, Hong Kong, and Britain, according to reports.

Despite a generally muted luxury goods market, there remains a robust demand for premium products, as evidenced by the increase, which comes after a somewhat larger increase in January that was neither worldwide nor gold-specific, reported Reuters, citing two luxury research platforms and dealers.

According to Mark Xu, head of marketing at the research platform WatchCharts, other top luxury brands have also upped their pricing. For example, Cartier, which is owned by Richemont, hiked the price of its gold watches by up to 10% last month. Citing rising gold prices and currency fluctuations, Richemont stated in its annual report that it has adopted gradual pricing hikes at its Jewellery Maisons, including Cartier.

The industry saw many price increases last year, which was unusual as well. However, this was due to US import duties, which are currently at 10% for Switzerland, the country with the largest watch industry in the world.

Unexpected Second Price Increase

According to Erik Boneta of Boneta Inc., a US-certified pre-owned watch dealer, the market was taken aback by Rolex's second raise this year: "No one saw it coming."

Despite the fact that more middle-class consumers are no longer spending money on luxury, industry analysts claim that the luxury watch market is still able to sell watches advertised as unique investment items to extremely wealthy clients.

According to WatchCharts, Rolex raised the average cost of its timepieces by 6.2% in January in Germany, Hong Kong, Japan, the UK, and the US. 

Price Of Gold Has Soared

Since 2024, the price of gold has nearly doubled to over $4,200 per ounce. According to Zouheir Guedri, founder of the luxury research business Data&Data, gold watches from several brands, including Rolex, Richemont, Moët Hennessy Louis Vuitton 9LVMH), Swatch, Breitling, and Chopard, are up 4% to 6% on average from a year ago.

He claimed that high-end watchmakers were "encouraging clients toward precious-metal and higher-end references" in an effort to attract the elite who still had money to spare.

The price hikes have been significantly higher for some models. The price of a white gold Rolex Cosmograph Daytona, which Hollywood actor Paul Newman wore in the 1970s, is $59,100 in the United States, up 14% this year and 33% since 2024.

Premium Exports Have Risen

According to Vontobel experts, Swiss watch exports valued at more than 20,000 Swiss francs ($25,038) had more than doubled from pre-pandemic levels and accounted for more than two-thirds of the industry's overall value of 24.4 billion francs in 2025.

According to the report, this represented an increase from 22% of the total in 2019

Simon Lazarus, head of PR and content at online luxury watch platform Chrono Hunter, believes that demand for Rolex watches will continue to exceed supply. "It comes down to brand desirability," he said. "Rolex has always been the high flyer".

ALSO READ: Young Indians No Longer Want Alcohol To Taste Like Alcohol

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Mumbai Police Responds To Priyanka Chaturvedi's 'Disgraceful' Remark

A viral social media post by the Mumbai Police addressing consent via the ongoing Pranit More biryani controversy has drawn sharp political backlash. Shiv Sena (UBT) lawmaker Priyanka Chaturvedi slammed the law enforcement department's official social media handle, calling its attempt to address the matter "disgraceful."

The Mumbai Police joined the conversation on X, using the trend to emphasise that consent cannot be bought. The police warned, “Rs 370 gets you one plate of biryani. Our lock-up serves free meals with a longer stay.” The post ended with the hashtag “#BiryaniIsNotConsent”.

????It's your choice

????निवड तुमची आहे!#BiryaniIsNotConsent pic.twitter.com/VtxXw7ehQt

— मुंबई पोलीस Mumbai Police (@MumbaiPolice) June 10, 2026

Responding to an official campaign touting the city's commitment to "Safeguarding Women", Chaturvedi criticised the force, replying, "Do better, Mumbai Police, this is so disgraceful."

Do better @MumbaiPolice , this is so disgraceful pic.twitter.com/kx1uwPSuu1

— Priyanka Chaturvedi???????? (@priyankac19) June 10, 2026

This gained the attention of users as well as police authorities, who responded further to her post, "Ma'am, with due respect to your interpretation, isn't it the most rightful thing to stand with women and for women?"

ALSO READ: Pranit More Show Row: Audience Member Loses Job Over Viral 'Rs 370 Biryani' Comment

While clarifying that the language was used only to grab attention and was intended for good purposes, the police added, "We condemn their dignity being breached even in words and are willing to put the word across in a language understood best. Safeguarding women and their dignity is never out of trend!"

This was dismissed by Chaturvedi, who said, "No. But they are selling cheap thrills on the basis of what is trending. Shameless."

What is the biryani controversy?

The "Rs 370 Biryani" controversy erupted after a clip from comedian Pranit More's crowd-work show went viral. In the video, an audience member named Himanshu Jangra stated that he spent Rs 370 on a chicken biryani date, implying that the financial expense entitled him to physical intimacy with the woman.

The comment sparked massive online outrage for reducing consent to a commercial transaction. Amid mounting backlash, comedian Pranit More issued an apology on Instagram before subsequently deactivating his account.

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SIPs Are Like Marilyn Monroe: "If You Can't Handle Them At Their Worst...''

Back in 2012, I interviewed the late Parag Parikh when he was about to launch PPFAS Mutual Fund. Besides his contrarian investing style, the one thing that stood out about him was his refreshingly candid take on things. This was when mutual funds were witnessing outflows for years and assets under management stood at a little over Rs 5 lakh crore - largely debt-oriented.

When I asked him how he planned to garner investments at a time when mutual funds weren't in favour, he said: "By being on the side of the investor". He then pointed to a note he had gotten stamped on the physical prospectus of the AMC's inaugural equity fund that said: "Please do not invest in this fund if you can't remain invested for at least five years".

I can't draw a straight line from the note to PPFAS' outperformance over the past decade, and the swelling of its assets. But surely, sobering investors' expectations when the temptation is to oversell helps attract the right set of investors who won't leave when the going gets tough.

ALSO READ: Equity Fund Inflows Slump 40% To Rs 22,908 Crore In May, Lowest In 2026

Don't Blame Your SIPs

Which brings me to the chatter over SIPs of late, as returns have remained muted for years amidst a sideways market.

Veteran investor Shankar Sharma seemingly mocked SIPs, saying they were a great product - but only for institutions that used it to sell expensive stocks to retail investors.

I have a different take. SIPs are a great product for retail investors, so long as expectations are rightly set.

For years, the industry has sold SIPs with the market squarely focused on returns but not risk. (That financial theory and practice equate risk with volatility is itself an awfully incorrect way of looking at things but that's a piece for another day.)

But all of investing boils down to a few basic truths - even first principles, if you will -- which the industry, and I dare say, financial media, overcomplicate.

Let's look at them from the Indian context:

1. Indian economy grows at an average 6%. Add another 4-6% by way of inflation, and we look at 10-12% nominal growth.
2. Consequently, companies, on average, will grow their earnings at a similar 12% rate - Sensex EPS data from 30 years bears out this correlation nearly one-to-one.
3. Assuming the market is fairly-valued (say an index price-to-earnings multiple of 16), you can expect 12% returns over the long term. Money doubles every six years. Pretty decent, though not spectacular.

The problem arises when the market goes from fairly valued to over valued, and investors are shown the recent 20-25% CAGR picture, without a warning that periods of underperformance likely follow periods of outperformance.

The standard disclaimer - "past performance is not an indicator of future results" - doesn't amount to much if the risk of negative or low long-term returns isn't specifically communicated in the context of the current valuation picture.

So, if, as an investor, you're unhappy with your SIP returns, you've been sold the right product with the wrong expectations.

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What You Should Expect Now

SIPs aren't a magic bullet that will always give good returns. Over a period of three-five years, their returns very much resemble a spring. If the market has fallen sharply recently, they will likely do well. If you start when a lot of the money has already been made recently, you will likely have to endure pain.

We're in the pain phase now, meaning that sooner or later, things will turn for the better. So, if you're an investor, this is the time to stay the course and not to throw in the towel.

The question is how much better.

After all, the market has only gone from expensive to less expensive.

Plus, the market is not fully pricing in changing global dynamics. Should equities be valued in the same way in a deglobalising world order, as they were in a globalising world where flow of capital was entirely driven by merit rather than also nationalistic considerations?

And it's not an overstatement to state that AI is the most powerful disinflationary force the world has, and will likely, ever see. Meaning the 6 + 6 math I outlined earlier could likely become 5 + 4 or thereabouts in the future.

So, if you continue to invest without worrying about returns, your SIP returns will likely go from poor to decent to maybe even amazing in due course.

Put simply, if the SIP could speak, it would liken itself to Marilyn Monroe who famously said: "if you can't handle me at my worst, you don't deserve me at my best."

I only wonder if you factored this in when you began your SIPs.

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Amy Adams Shares The Hilarious Reason She'll Never Enter The Love Island Villa

Millions of viewers are following the latest season of Love Island USA, and it turns out Amy Adams is one of them. The actress revealed that she is a big fan of the dating reality show, but made it clear that viewers should not expect to see her walking into the villa as a contestant anytime soon.

During an appearance on The Tonight Show Starring Jimmy Fallon, Adams spoke about her love for the series and shared why taking part in it will be extremely difficult for her. While she enjoys watching the drama, relationships and surprises, she joked that many parts of the experience sound like her worst nightmare.

Adams pointed to several things that will make life in the villa challenging, including constantly being around strangers, socialising all day, spending time in the sun and wearing swimwear. She also shared a funny observation about the show that many fans may have overlooked. According to her, there's very little shade around the villa.

Amy Adams said, “I'm a little behind on this season. A little behind. That show's really fun to watch, but it gives me a lot of anxiety. It's like my personal nightmare, like strangers, socialising, bikinis. Sun. There's just no shade. Does anyone notice there's no shade on the show? I would just be, like, running around with zinc oxide, being like, ‘You're looking a little crispy.' That's totally hot.”

When Jimmy Fallon asked, “Are you into reality TV in general?”

“I think I'm a little bit more of a true crime gal, I love Dateline. Why is it relaxing? I think there are psychological studies behind it, but I can't quote them, but we love it,” she said.

Amy Adams' appearance on The Tonight Show came days after the release of her new series, Cape Fear. The psychological thriller follows a happy couple whose lives are turned upside down when Max Cady, a notorious killer from their past, played by Javier Bardem, is released from prison and decides to take revenge.

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India Buying More Oil From Russia Vs November, Says Hardeep Puri; Allays Shortage Concerns

Amid concerns over disruptions in global energy markets following escalating tensions in West Asia, Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday sought to reassure consumers, asserting that India remains well-positioned in terms of energy security and fuel availability.

Speaking to NDTV, Puri said India is currently purchasing significantly more crude oil from Russia compared with November last year and has successfully diversified its sourcing strategy by importing crude from as many as 41 countries. 

The minister stressed that the country's energy requirements remain adequately met despite ongoing geopolitical uncertainties.

Puri credited the leadership of Prime Minister Narendra Modi for ensuring both the availability and affordability of fuel for Indian consumers.

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He noted that the government has consistently prioritised shielding citizens from the impact of global price volatility.

Addressing concerns over a potential fuel shortage, the minister said there is no cause for alarm, adding that India is well supplied and prepared to manage any external disruptions. 

He, however, pointed out that nearly 60% of the country's LPG imports and around 90% of its crude oil imports traditionally transit through the Strait of Hormuz, reflecting the strategic importance of the maritime route.

Puri also criticised opposition-ruled states for not fully complying with fuel price-related measures, while highlighting that the Centre had absorbed significant fuel price pressures in recent years. 

He noted that fuel prices were last revised upward in February 2022.

Reiterating the government's commitment to energy access, the minister said nearly 33 crore Indian households continue to have sufficient fuel supplies for their daily needs.

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Video: Salim Kumar's Son Confronts Paparazzi At Father's Funeral

The funeral of National Award-winning Malayalam actor Salim Kumar was held with full State honours at his residence in North Paravur, Ernakulam district, Kerala, on Sunday. 

Amid the sombre atmosphere, Salim Kumar's eldest son, Chandu, was seen visibly upset as large crowds and media personnel surrounded the residence. Videos circulating on social media show Chandu reportedly raising his voice at photographers and videographers, urging them to step back and allow the family enough space to pay their final respects in peace.

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The emotional moment unfolded as relatives and close friends gathered around the actor's mortal remains. With the area becoming increasingly crowded due to the presence of media and onlookers, Chandu appeared frustrated and repeatedly asked those carrying cameras to move away from the immediate vicinity of the family.

About Salim Kumar's Death

Salim Kumar died on Saturday. 

The Government of Kerala confirmed his death in an official statement and expressed "profound grief" over the loss of the veteran actor.

In its statement, the government described Salim Kumar as a "renowned film actor" and highlighted his contributions to Malayalam cinema. 

It noted that he won the National Film Award for Best Actor in 2010 for his performance in Adaminte Makan Abu. He had also received the Kerala State Film Award for Second Best Actor for Achanurangatha Veedu in 2005.

ALSO READ: Mammootty Mourns Salim Kumar's Death: 'An Unending Sorrow'

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PM Modi Meets EAC Members, Discusses Measures To Boost Economic Growth Amid Global Turmoil

Prime Minister Narendra Modi on Saturday chaired a meeting with the members of the Economic Advisory Council (EAC) to the prime minister and discussed a plethora of ideas and measures to bolster India's economic growth amid global turmoil.

The prime minister and the EAC-PM members discussed various ideas and measures to further boost India's economic growth in times of global turmoil, they said.

The members also gave their assessment of the impact of the West Asia conflict on India and the world.

West Asia Conflict's Potential Impact

Ever since the war in West Asia began, economies around the world have felt adverse impacts in various aspects; be it energy prices spiralling out of control, restriction to air spaces, or security threats. 

Additionally, conflict and military escalation threatens to push 2.5 million people in India into poverty and the country is projected to experience some loss in its human development progress, according to estimates and projections by the United Nations.

ALSO READ: 'Iran Situation Seems To Be Going Quite Well': Trump Claims Amid Fresh Round Of Fire

The United Nations Development Programme, in a report titled 'Military Escalation In The Middle East: Human Development Impacts Across Asia And The Pacific' noted that the conflict is "widening human development pressures across Asia and the Pacific.

Through higher fuel, freight, and input costs, the shock is diminishing household purchasing power, raising food insecurity, straining public budgets, and weakening livelihoods."

The preliminary assessment, issued Tuesday, estimates that globally 8.8 million people are at risk of falling into poverty and the West Asia military escalation could cost Asia-Pacific up to $299 billion.

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Tecno Pova 8 to Launch in India With 8,000mAh Battery on This Day

Tecno has confirmed the launch date of its upcoming Pova 8 smartphone in India. The handset is set to arrive next week and has already been teased in official promotional material. The company has also revealed part of the phone's design, including a redesigned rear camera module and confirmation of a large battery. Recent certification listings and benchmark appearances have additionally hinted at several hardware specifications, including the chipset, charging capabilities, software version, and storage configurations expected on the smartphone.

Tecno Pova 8 India Launch: All We Know

According to an X post shared by Pova Mobile India, the Tecno Pova 8 will launch in India on June 11 at 12pm IST. A banner of the upcoming model on the Flipkart app suggests it will be available for purchase in the country via the e-commerce site. The teaser also offers an early look at the smartphone's design and confirms that it will pack an 8,000mAh battery.

The promotional material suggests that the Tecno Pova 8 handset, teased in green and silver finishes, retains a rear camera layout similar to the Tecno Pova 7. However, the newer model appears to feature a matrix-style dotted lighting element integrated into the camera module.

It appears to be similar to the Glyph Matrix system on the Nothing Phone 3 and Phone 4a Pro, which uses a grid of micro-LEDs to display notifications and key information, allowing users to check updates without turning on the screen.

A Tecno handset, speculated to be the Pova 8, was recently reportedly spotted on Geekbench with a MediaTek Dimensity 7100 chipset paired with 6GB of RAM and Android 16.

The Tecno Pova 8 with support for 45W wired fast charging is also said to have appeared on the FCC certification database. The phone is expected to come with 3G, 4G, and 5G network support, alongside Bluetooth, NFC, Wi-Fi, and GPS connectivity. NFC availability is likely to vary by market. Other leaks claim that the upcoming phone could be available in 6GB + 128GB, 8GB + 128GB, and 8GB + 256GB variants.

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Kohli "Doesn't Want The Life He Lives In India": Ex-Teammate Explains Why

The camera is always on Virat Kohli. From a small gesture towards his teammate to an aggressive celebration when a rival batter gets out, Kohli's every act is always under the gaze of the lens. It does not stop there - at airports, in hotel lobbies, on the streets, inside restaurants - there is rarely a time when Kohli is not followed. The celebrity status that superstars like Kohli have comes with its share of burden. Kohli's ex-teammate at Royal Challengers Bengaluru (RCB), Liam Livingstone, who currently plays for Sunrisers Hyderabad in the IPL, shared his opinion on Kohli's tryst with fame.

"What's he like in the dressing room?" Michael Vaughan asked England star Liam Livingstone in a podcast.

"He was amazing. I'd always played against Virat, and he's always laughing," Livingstone said.

"If you want to have a go at someone, he'll have a go back at you. But on the field, he's ultra-competitive. As soon as he steps over that line, he's a different person. Away from cricket, he is a really nice, chilled-out, lovely guy who loves spending time with his family. A very chilled-out guy," Livingstone added, reflecting on Kohli's natural disposition.

"And almost kind of doesn't want the life that he lives in India. He doesn't really want the eyes on him all the time. He is a genuinely nice guy. When he gets out onto the pitch, he is the most competitive player I have seen."

Kohli, in recent years, has divided his time between India and England. Before the IPL, Kohli was staying in England. Several reports claimed that it was an attempt by Kohli to escape the constant attention and frenzy that he generates.

Livingstone went on to praise the role of RCB's Director of Cricket Mo Bobat and coach Andy Flower in the evolution of Kohli.

"Mo [Bobat] and Andy [Flower] went in and changed the way he played. They were brave enough to do that," Livingstone said.

"They asked him to be a bit more aggressive, hit more sixes, and keep going with that aggression in the powerplay. You see the way he plays now in the powerplay, and he's way more aggressive than he used to be. Even against spin, he's playing more shots than he ever did.

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Nifty, Sensex Down 1%, All Sectors In Red: Three Reasons Why Market Is Falling

Domestic equities are trading lower on Wednesday, tracking weak global cues, and lingering geopolitical tensions. Benchmark indices are in the negative territory, with selling pressure visible across sectors. 

Nifty fell as much as 1.41% to 23,151, whereas Sensex fell 1.55% to 73,492.6 intraday. At 1:38 pm, Nifty is down 0.59% at 23,344.4, and Sensex is down 0.67% at 74,150.22..

The pressure comes on the back of gaining crude prices, and volatile IT stocks. 

All sectors were trading in the red, with losses led by IT, which remained 3.61% down during early trade, followed by Realty, Media, and PSU Bank.

The broader market is also facing pressure with the Nifty Smallcap 250 falling almost 0.54%, and the Nifty Midcap 150 dropping about 0.74%.

Here's three reasons why markets are crashing on Wednesday:

US-Iran War Uncertainty

On June 3, US Central Command said U.S. forces defeated multiple Iranian ballistic missiles and drones amid attempted attacks across the Middle East. Iran launched several missiles toward regional neighbours, but none hit their targets: two fired at Kuwait fell short or broke apart, and three aimed at Bahrain were intercepted by US and Bahraini air defenses.

Earlier, CENTCOM shot down three Iranian one-way attack drones launched toward civilian mariners in regional waters. In response, US forces conducted self-defense strikes on an Iranian military ground control station on Qeshm Island. No U.S. personnel were harmed, and CENTCOM said forces remain vigilant during the ongoing ceasefire.

US President Donald Trump called reports of a cessation in talks 'false and erroneous.'

"The conversations between us have been going on continuously, including four days ago, three days ago, two days ago, one day ago and today,” Trump said in a social media post. "Where they lead, one never knows, but as I told Iran, It's time, one way or another, for you to make a Deal."

Gaining Crude Prices

Oil prices extended gains for a third straight session on Wednesday as hopes of a near-term peace agreement between the US and Iran faded, while renewed fighting in the Middle East added to concerns over global crude supplies.

Brent crude climbed towards $97 a barrel, while US benchmark West Texas Intermediate traded near $95. The latest advance comes after oil prices gained more than 7% over the first two trading sessions of the week.

The uncertainty has complicated expectations for the resumption of oil flows from the region. Traders had previously bet that a deal could lead to a quicker reopening of supply routes and help ease pressure on global inventories. Instead, delays are increasing concerns that countries may need to rely more heavily on existing crude stockpiles while waiting for exports from the Persian Gulf to normalise.

Volatile IT Stocks

IT stocks have turned volatile after a strong run-up, with investors increasingly booking profits amid stretched valuations. Technical indicators suggest a reversal in momentum, prompting traders to reduce exposure. Sentiment has also been hit by cautious commentary from foreign brokerages, some of which have flagged concerns around earnings growth and demand visibility.

At the same time, the broader structural setup remains challenging, with uncertainty around discretionary technology spending and the pace of recovery in key overseas markets. Adding to the pressure, global software stocks have witnessed a technical pullback, dragging down sentiment toward Indian IT names as well.

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