New Delhi: The Indian authorities have instituted a ban on the American trading firm Jane Street for fraudulent activities and have also stated that they will seize $570 million from the firm, says a report by Margot Patrick and Anvee Bhutani in The Wall Street Journal.
“The Securities and Exchange Board of India said the U.S. firm had moved prices in stock derivatives and cash markets for the firm’s benefit, and misled and enticed smaller traders to boost profits. The regulator said the firm made a profit of around $4.3 billion from its trading on Indian markets between January 2023 and March 2025,” says the report.
SEBI’s crackdown on Jane Street could spell trouble for other global regulators active in Indian derivatives, as the regulator is now widening the scope of its investigation, writes Veena Venugopal in India Business Briefing, Financial Times.
“SEBI’s order raises some troubling questions, chief among them why it took so long for the regulator to take action on Jane Street. The regulator has admitted it was alerted as early as April last year to possible market manipulation, through news reports of a legal dispute between the company and its rival Millennium Capital,” says the FT.
The BBC‘s Soutik Biswas profiles Abu Abraham, the cartoonist who memorialised the Emergency.
“His pen skewered power with elegance and edge, especially during the 1975 Emergency, 21 months of suspended civil liberties and muzzled media under Indira Gandhi’s rule,” he writes.
India’s richest man, Mukesh Ambani, is waiting for a cargo ship “laden with ethane”. He conceptualises “large-scale imports” of this natural gas component from North America, writes columnist Andy Mukherjee for Bloomberg Opinion, adding that the plan may come in handy as India negotiates its trade deal with the U.S.
“...Ambani plans to add three more ethane carriers to its fleet. Now that Trump has fallen out with Elon Musk, the White House may have room for a new centi-billionaire guest. Both parties may gain from a closer friendship,” he writes. “While the trade war with China is on pause, the fate of US ethane still hangs in limbo. Although India can’t match the much larger Chinese appetite for cracking ethane, it can certainly absorb some of the oversupply.”
As Lama’s succession plan takes centre stage, The New York Times looks at the settlement he has built and the culture he has created in India’s Dharamsala, in a report co-written by Mujib Mushal and Hari Kumar.
“More than 5,000 residents live in the settlements, as well as thousands of monks who flow through the monasteries. The exile government has two senior settlement officers, who oversee the delivery of services, with the help of a staff of nearly 200. The refugees run shops and restaurants, and often hire local labour,” says the report.
“Our death rate is higher than our birth rate. People are also migrating out of India,” Sonam Yougyai, 55, a hospital administrator, told the NYT. “You go inside the house, and you only find old people.”
With India “recognising” Tibet as its part, India and China are squarely in the middle of the Dalai Lama succession row, reports Tripti Lahiri in the Wall Street Journal.
However, “Beijing sees the Dalai Lama as seeking to cleave Tibet from China. The Communist Party says that Tibet has historically been a part of China and that Beijing must approve the next reincarnation of the Dalai Lama, setting up the likelihood that there could be rival Dalai Lama candidates for the role,” the report says.
A team from the UK has begun repairs on the now notorious British F-35 B jet that remains stranded in Kerala, Geeta Pandey and Ashraf Padanna report for the BBC.
“In India, images of the ‘lonely F-35B’, parked on the tarmac and soaked by the Kerala monsoon rains, have made it a subject of jokes and memes, with many suggesting that it does not want to leave the scenic state of Kerala, described as ‘God’s own country‘ in tourism brochures.”
Editor’s note: An earlier version of this report referred to the Indian cartoonist profiled by BBC as Abu Ahmed. The error is regretted.
(Edited by Madhurita Goswami)