Category: Business

Nautilus and Allonautilus cephalopods and their extinct ancestors have been drifting through the mesophotic zone of the ocean for more than 500 million years. Researchers have spent the last 40 years trying to understand how these mysterious “living fossils” thrive in areas with limited nutrients. In a recent paper published in Scientific Reports, a UW-led team documented new habits and habitats for current Nautilus and Allonautilus species. These creatures appear to live in deeper water than their extinct cousins did, and the younger ones live twice as deep as the fully mature adults. Nautilus and Allonautilus species scavenge their food and never stop moving. While a few species migrate hundreds of meters down at dawn and then back up at dusk every day, the team found that most species aren’t quite as intrepid. The researchers also describe a new population of Allonautilus in waters off the island New Britain, one of several populations thriving due to hunting restrictions inspired in part by research efforts from this team

A new study finds overconfident CEOs are less likely to delegate responsibilities to underlings, particularly in settings that involve complex transactions – such as hammering out the details of high-stakes deals.

“Organizations have only gotten more complex over time, often operating in multiple countries across many different sectors,” says Jared Smith, co-author of a paper on the work and a professor of finance in North Carolina State University’s Poole College of Management. “As a result, it is important for modern companies to bring more voices to the table. Involving more people who have more varied expertise and experiences can be valuable in helping companies navigate a complex business environment.

“In other words, delegation is an important tool for CEOs,” says Smith. “It can help them bring in expert voices while also freeing up their own time to tackle the multitude of issues facing any enterprise. We wanted to see whether there is a relationship between overconfidence in CEOs and their willingness to delegate – because that may have meaningful implications for their organization.”

To explore this issue, the researchers focused on 3,690 mergers and acquisitions by publicly traded companies between 2000 and 2019. The researchers looked only at transactions with a value of at least $50 million and that constituted at least 1% of the acquiring company’s equity.

Those mergers and acquisitions involved 1,634 CEOs. The researchers used an established technique to assess the confidence of those CEOs based on how the executives made use of their stock options. And to assess the extent to which those CEOs were willing to delegate responsibility, the researchers looked at press releases and news articles about the 3,690 mergers and acquisitions (M&As).

“In general, if anyone other than a C-suite executive is mentioned in these releases, it strongly suggests that the person who was mentioned played a meaningful role in the M&As,” Smith says.

The researchers also looked at “background of the merger” documents that acquiring companies submit to the Securities and Exchange Commission, which detail all relevant meetings that took place between companies while arranging the relevant transaction.

“We found that if someone other than an executive was mentioned in a press release or news article, that person was very likely involved in meetings that took place during the M&A process,” Smith says. “This helps validate the use of news releases and articles as a tool for determining whether an executive is willing to delegate responsibility.”

The researchers found that 41% of the CEOs in their data set were overconfident. And when the researchers compared the behavior of overconfident CEOs to the behavior of the overall group, they found that overconfident CEOs were 10-15% less likely than average to delegate responsibility.

The researchers also found that the relationship between overconfidence and delegation behavior varied quite a bit depending on the nature of the M&A.

“For example, when a firm was acquiring a company in an industry sector it was not previously involved in, overconfident CEOs were even less likely to delegate responsibility,” Smith says. “This is notable given that these deals involve unfamiliar industries, where outside expertise is more likely to be relevant.”

However, the most surprising result was also the most statistically powerful result.

“We found that the more segments – or business arms – the acquiring firm had, the less likely overconfident CEOs were to delegate responsibility,” says Smith. “This is remarkable, because theory suggests that the more complex the CEO’s own information environment is, the more likely they are to benefit from getting outside expertise.

“It is important for leadership to be confident in their own abilities,” says Smith. “But our study suggests that executives who are overconfident are less likely to delegate responsibility to the people on their team – and that may affect the C-suite’s ability to navigate complex business situations.

“It would be interesting to see how this may be reflected in post-merger performance – that’s an area for future research.”

The paper, “Leave it to Me: Overconfident CEOs’ Lower Propensity to Delegate Acquisition Responsibility,” is published open access in the Journal of Management Studies. The paper was co-authored by Matthew Josefy of Indiana University and Daniel Greene of Clemson University.

New Delhi: Air travel in India has become more expensive as flight ticket prices have increased sharply in recent weeks. The rise is mainly due to higher fuel costs caused by global tensions.

Compared to last year, airfares in April have gone up by about 44%. A ticket that cost around ₹5,850 in April 2025 now costs nearly ₹8,450. International ticket prices have also increased, rising from about ₹52,000 to ₹74,500.

Major routes are seeing big jumps in fares. For example, Delhi to Bengaluru tickets now cost between ₹10,500 and ₹14,000, up from ₹7,200–₹8,500 last year. Mumbai to Chennai fares have also increased significantly, and Mumbai to Delhi tickets are now much more expensive than before.

The main reason for this increase is the rising price of aviation fuel. Global oil price hikes, airspace restrictions, and changes in currency value have made airline operations more costly.

The government has taken some steps to control the situation, including offering relief on fuel prices and trying to improve seat availability. However, ticket prices are still rising. Experts say fares could have been even higher without these measures.

Passengers are likely to continue facing high ticket prices, especially during busy travel seasons.

New Delhi: In a move that underscores long-standing strategic ties, Russia has offered to increase oil and gas supplies to India as global energy markets face uncertainty due to ongoing tensions in the Middle East.

The assurance came during high-level discussions between Russian First Deputy Prime Minister Denis Manturov and key Indian leaders, including External Affairs Minister S. Jaishankar and National Security Advisor Ajit Doval. Manturov also met Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to explore ways to deepen bilateral cooperation.

The discussions placed strong emphasis on expanding collaboration in the energy sector. Manturov noted that Russian companies are well-positioned to quickly ramp up supplies of oil and gas to meet India’s growing needs.

The offer comes at a critical time, as disruptions in shipping routes—particularly around the strategically important Strait of Hormuz—have affected global energy flows following conflict in the Middle East. These developments have raised concerns about potential supply shortages, especially in West Asia.

With this renewed commitment, Russia once again signals its readiness to support India during periods of global uncertainty, reinforcing a partnership that continues to play a key role in energy security.

Apr 03: Häfele, a global leader in interior solutions, has strengthened its presence in Kochi with the launch of its new Appliances Studio, further expanding its footprint in Kerala. Located in Vyttila, Kochi, the studio reflects Häfele’s commitment to bringing world-class home solutions closer to customers in a market known for its evolving lifestyle preferences and growing demand for premium interiors.

Designed as a dedicated appliances destination, the studio caters to homeowners, architects, and interior designers seeking reliable, high-performance solutions. It serves as an immersive experience centre where customers can engage with Häfele’s appliance solutions through live, hands-on interactions, making the brand’s portfolio more accessible to the Kochi market.

Spread across 2,000 sq. ft., the studio is among Kerala’s largest appliance galleries. Thoughtfully designed to offer an intuitive and engaging customer journey, it features a live kitchen setup and functional display zones that showcase appliances in real-life usage scenarios. From built-in ovens, microwaves, and combi ovens to hobs, hood solutions, dishwashers, and small domestic appliances, the space allows customers to visualise how each product integrates seamlessly into a complete kitchen environment.

The studio presents Häfele’s premium range of built-in and small domestic appliances, catering to the growing demand for space-saving designs, refined aesthetics, energy efficiency, and smart functionality. With appliances displayed in live settings, customers can experience products in real time, compare features, and receive expert guidance tailored to their needs.

“India continues to be a key growth market for Häfele, and our expansion into cities like Kochi reflects our commitment to strengthening customer access to world-class interior and appliance solutions. With the launch of this new Appliances Studio, we aim to create a dedicated experience centre where customers, architects, and designers can explore our integrated offerings and make informed choices. Backed by our strong service network and customer support ecosystem, we remain focused on delivering convenience and enhanced value to our partners and end users across the region,” said Mr. Frank Schloeder, Managing Director, Häfele South Asia.

 

Dallas, Apr 03: Helen H. Hobbs, M.D., Professor in the Eugene McDermott Center for Human Growth and Development and of Internal Medicine and Molecular Genetics at UT Southwestern Medical Center, has been named the recipient of the 2026 Valentin Fuster Award for Innovation in Science by the American College of Cardiology (ACC). This honor reflects her contributions to cardiovascular science and her role in advancing research that has directly improved patient care.

Dr. Hobbs was honored with other 2026 Distinguished Award recipients at the ACC’s Annual Scientific Session on March 28-30 in New Orleans.

“I am deeply grateful to the American College of Cardiology for this recognition,” Dr. Hobbs said. “I share this award with my scientific partner, Jonathan Cohen, and the many trainees and colleagues who have made our discoveries possible, and with UT Southwestern, which has provided an extraordinary environment for curiosity-driven research that ultimately benefits patients.”

The Valentin Fuster Award for Innovation in Science, established in 2022, is presented to an investigator who has made significant and sustained contributions to cardiovascular medicine through scientific discovery, innovation in the delivery of science, and leadership in advancing research to improve patient outcomes worldwide.

“I am honored to recognize Helen Hobbs, M.D., with the Valentin Fuster Award for Innovation in Science,” said Christopher M. Kramer, M.D., FACC, President of the ACC. “Dr. Hobbs has demonstrated remarkable work that will bolster the ACC’s mission to transform cardiovascular care and improve heart health for all.”

A UTSW physician-scientist since 1987, Dr. Hobbs is an internationally renowned researcher who has used human genetics to identify key proteins and pathways in lipid metabolism. Her work has had far-reaching implications for prevention and treatment of both cardiovascular and metabolic liver disease. Dr. Hobbs’ innovative research has focused on identifying genetic variants that protect against disease rather than those that cause it.

After arriving in Dallas in 1980 to train in internal medicine, Dr. Hobbs completed a postdoctoral fellowship in the laboratory of Michael Brown, M.D., and Joseph Goldstein, M.D., whose mentorship helped shape her scientific career. Drs. Brown and Goldstein received the 1985 Nobel Prize in Physiology or Medicine for their discovery of the basic mechanisms of cholesterol metabolism, and their findings led to the development of cholesterol-lowering statin drugs.   

Dr. Hobbs is best known for her collaboration with Jonathan Cohen, Ph.D., Professor in the Center for Human Nutrition, the Eugene McDermott Center for Human Growth and Development and of Internal Medicine. Their work led to the 2006 discovery of the role of the PCSK9 protein in regulating plasma levels of low-density lipoprotein (LDL, or “bad” cholesterol). They discovered that individuals with mutations that inactivate the PCSK9 gene have much lower plasma levels of LDL-cholesterol and have reduced risk of atherosclerotic cardiovascular disease. This seminal finding paved the way for the development of PCSK9-inhibiting drugs now widely used to treat patients with resistant high cholesterol to reduce the risk of heart disease.

In 2008, Drs. Hobbs and Cohen identified a variant in the PNPLA3 gene, the first genetic risk factor identified for metabolic-associated steatotic liver disease (MASLD). Subsequent work revealed that the same variant is also associated with alcohol-associated liver disease, expanding our understanding of metabolic liver disorders.

Much of Dr. Hobbs’ groundbreaking research has drawn on data from the Dallas Heart Study, a large, multiethnic, longitudinal study of cardiovascular disease that she co-founded, together with Ronald Victor, in 2000. The study, now called the Dallas Hearts and Minds Study, gathered detailed clinical evaluations, imaging, and genetic data from thousands of Dallas County residents and has become a model for population-based genetic research worldwide.

Born in Boston, Dr. Hobbs earned her bachelor’s degree in human biology from Stanford University and her medical degree from Case Western Reserve University School of Medicine. She completed her internal medicine training at Columbia-Presbyterian Medical Center and UT Southwestern, where she was later encouraged by the late Donald Seldin, M.D., longtime Chair of Internal Medicine, to pursue a career in research.

A member of both the National Academy of Medicine and the National Academy of Sciences as well as a Howard Hughes Medical Institute Investigator, Dr. Hobbs has received numerous national and international honors. These include the Heinrich Wieland Prize in 2005; the international Breakthrough Prize in Life Sciences in 2015; the Institut de France Grand Prix and the Harrington Prize for Innovation in 2018; the Passano Award with Dr. Cohen in 2016 for exemplary research that leads to real-world applications; and the Ross Prize in Molecular Medicine in 2023 with Dr. Cohen for their groundbreaking research in dyslipidemias and metabolic liver disease.

Dr. Hobbs holds the Dallas Heart Ball Chair in Cardiology Research. Dr. Brown, a Regental Professor, holds The W.A. (Monty) Moncrief Distinguished Chair in Cholesterol and Arteriosclerosis Research and the Paul J. Thomas Chair in Medicine. Dr. Cohen holds the C. Vincent Prothro Distinguished Chair in Human Nutrition Research. Dr. Goldstein, a Regental Professor, holds the Julie and Louis A. Beecherl, Jr. Distinguished Chair in Biomedical Research and the Paul J. Thomas Chair in Medicine.

Steel Authority of India Limited (SAIL) achieved a record 20.14 million tonnes of steel sales in FY26, marking its strongest performance to date.

The growth was driven by robust demand from construction, automotive, and infrastructure sectors. SAIL’s focus on high-quality products, efficient production, and expanding distribution networks helped meet nationwide industrial needs.

Beyond volume, the company emphasized sustainable production practices, aligning with environmental goals while supporting India’s economic growth.

With plans for modernization and capacity expansion, SAIL is well-positioned to maintain momentum and continue contributing to India’s industrial development.

India’s two-wheeler industry wrapped up the fiscal year 2025-26 on a high note, buoyed by a revival in rural markets and a growing appetite for premium models. Manufacturers reported robust sales across motorcycles, scooters, and high-end bikes, signaling renewed consumer confidence and shifting preferences.

Rural Markets Drive Growth

A key factor in the industry’s strong performance has been the resurgence in rural demand. After a period of muted consumption, improved monsoon patterns, higher farm incomes, and targeted financing schemes have encouraged rural consumers to invest in personal mobility. Entry-level motorcycles, especially those priced below ₹80,000, saw healthy uptake, supporting sales volumes for brands catering to tier-2 and tier-3 towns.

Premium Segment Sees Surge

While rural recovery drove volume growth, urban markets contributed through heightened demand for premium two-wheelers. Scooters and motorcycles with advanced features, stylish designs, and superior fuel efficiency gained traction among young professionals and aspirational buyers. Electric two-wheelers are also slowly finding a foothold, with government incentives and rising environmental awareness nudging consumers toward sustainable options.

Strategic Moves by Manufacturers

Two-wheeler companies leveraged the favorable market environment with aggressive product launches, extended dealer networks, and targeted financing offers. OEMs invested in marketing campaigns highlighting safety, style, and efficiency, while expanding digital sales platforms to tap into tech-savvy buyers. Collaborations with fintech companies for easy loan approvals also played a crucial role in boosting rural demand.

Industry Outlook

Industry analysts expect the momentum to continue into FY27. Rural income growth, urban aspirational demand, and rising adoption of premium and electric models are likely to drive further expansion. Manufacturers are also focusing on after-sales service improvements, localized supply chains, and innovation in design and technology to sustain growth in a competitive landscape.

The combination of robust rural recovery and premium demand not only reinforces India’s position as one of the largest two-wheeler markets in the world but also highlights the evolving dynamics of consumer behavior. The sector’s ability to adapt and innovate will determine how it capitalizes on these trends in the years ahead.

India has emerged as the third-largest renewable energy market in the world in 2025, according to the latest report by the International Renewable Energy Agency (IRENA). The country’s rapid expansion in solar, wind, and other clean energy sectors reflects a sustained commitment to reducing carbon emissions and meeting growing energy demand.

The report highlights India’s remarkable capacity additions over the past year, with solar and wind installations leading the growth. Government policies, investment incentives, and private sector participation have all contributed to this acceleration, making India a key player in the global clean energy transition.

Experts note that India’s renewable energy surge is not only an environmental achievement but also a strategic economic move. Expanding renewable infrastructure supports energy security, creates jobs, and positions the country as a hub for sustainable technology development.

With ambitious targets set for 2030, India’s renewable energy journey demonstrates how policy, innovation, and investment can combine to transform the energy landscape. The nation’s success serves as an inspiration for emerging economies seeking to balance growth with sustainability.

India’s sugar production has seen a significant boost this season, rising 9% to reach 272.31 lakh tons as of March 31, 2026, according to data from the Indian Sugar Mills Association (ISMA). This increase reflects favorable crop conditions and higher yields across key sugar-producing states.

The latest figures indicate a steady recovery in output compared to the previous year, driven by improved cane availability, timely harvesting, and supportive weather conditions. Maharashtra, Uttar Pradesh, Karnataka, and Tamil Nadu remain the largest contributors to India’s sugar production, collectively accounting for a major portion of the total output.

Higher production is expected to ease pressure on domestic supply and could support steady prices in the coming months. The industry has also been focusing on enhancing efficiency and adopting modern milling techniques to maximize sugar recovery from sugarcane.

With India being one of the world’s largest sugar producers, the rise in production this season strengthens its position in global markets while also meeting domestic demand. The government and industry bodies continue to monitor output and market trends to ensure balanced supply and pricing stability.