New Delhi – Air India CEO Campbell Wilson has resigned, according to a person with direct knowledge of the matter, as the airline grapples with persistent losses and heightened regulatory scrutiny following a crash last year that killed 260 people.
The news of his resignation comes just days after bigger rival IndiGo tapped aviation industry veteran Willie Walsh to become its next CEO. This as the country’s two largest carriers come under pressure to tackle a mounting industry crisis stemming from the Middle East conflict compounded by domestic operational challenges.
Reuters reported in January that Air India’s board was scouting for a new CEO to replace Wilson, a former Singapore Airlines veteran brought in to steer the Indian carrier’s turnaround in 2022 after years of decline under government ownership.
The airline, which is contending with aircraft delivery delays, has also been reprimanded by regulators for safety lapses, including flying an aircraft eight times without an airworthiness certificate and running planes without checking emergency equipment.
New Zealand-born Wilson’s term was due to end in 2027. Reuters
French fuel shortages spark protests as prices surge
Nantes, France — Around 18% of French petrol stations are currently facing fuel supply shortages, the government said on Tuesday, while rising prices at the pump prompted some drivers in western France to block a road in a sign of rumbling discontent.
As the US-Israeli-led war on Iran enters its sixth week, a supply crunch on oil deliveries has led to a surge in crude and fuel prices in many parts of the world.
Junior energy minister Maud Bregeon said the shortages in France were due only to internal logistical problems and not related to fallout from the war. Reuters
UBS Global Wealth cuts S&P 500 targets as oil risks rise
Bengaluru — UBS Global Wealth Management trimmed its S&P 500 index target for 2026, pointing to sustained higher oil prices amid the ongoing Middle East conflict that could pressure US economic growth and inflation.
In a note dated April 6, the brokerage cut its year-end target to 7,500 from 7,700 and trimmed its mid-year target to 7,000 from 7,300.
The benchmark index has fallen about 3.9% since the Iran war began on February 28, as soaring oil prices and geopolitical risks prompted investors to pull back from equities. Reuters
BP chair urged to step down over climate vote
London — Proxy adviser Glass Lewis recommended that BP shareholders vote against chair Albert Manifold, who took up the post in October, citing BP’s decision to exclude a climate-related resolution from its upcoming annual meeting.
Glass Lewis made its recommendation based on BP’s decision to exclude a resolution tabled by a climate activist shareholder group from its April 23 annual meeting, according to a note seen by Reuters.
“The decision further raises questions about transparency, shareholder communication and responsiveness to shareholder concerns,” Glass Lewis said in a note. Reuters
Gilead acquires Tubulis for $5bn to boost cancer drugs
Bengaluru — Gilead said on Tuesday it would acquire private Germany-based Tubulis for up to $5bn, boosting the US drugmaker’s pipeline with a lucrative class of experimental cancer drugs referred to as “guided missiles”.
This marks the latest in Gilead’s acquisition spree. The company has been expanding beyond its key areas for growth amid looming patent expiries and declining sales of its Covid-19 treatment.
In February, the drugmaker bought partner Arcellx for up to $7.8bn, its biggest deal since 2020, to strengthen its lineup of cancer treatments. Last month, it agreed to acquire privately held biotech firm Ouro Medicines in a deal worth more than $2bn to expand its pipeline of immune disorder drugs.
With the latest deal, Gilead will get access to Tubulis’ drugs, which belong to the class called antibody-drug conjugates (ADC), popularly known as “guided missiles”, that deliver chemotherapy directly to cancer cells while minimising harm to healthy tissue. Reuters
Puig, Estée Lauder founders to enter merger talks, source says
Madrid — The founding families of the Spanish firm Puig, which owns such brands as Rabanne and Nina Ricci, and US cosmetics giant Estee Lauder will meet this week in New York to negotiate the terms of a potential business combination, a person with knowledge of the talks said on Tuesday.
Estee Lauder and Puig aim to reach an agreement in the coming weeks, the person said, speaking on condition of anonymity as the discussions remain private.
The source confirmed an earlier report from Spanish newspaper Expansion.
Last month, Puig and Estee Lauder said they were exploring a deal that would create the world’s largest premium beauty player, with brands including Tom Ford, Carolina Herrera, Rabanne, Jean Paul Gaultier and Clinique under one roof.
Spokespersons for Puig declined to comment while Estee Lauder was not available for comment outside US business hours. Reuters
Fox integrates Kalshi data across platforms as prediction trend
Bengaluru — Fox Corp said on Tuesday it will integrate Kalshi’s prediction market data across its news and streaming platforms, reflecting a broader trend among media organisations to use market-based probabilities to complement traditional reporting.
Under the deal, Kalshi’s data will be incorporated into FOX News Channel, FOX Business Network, FOX Weather and Fox’s direct-to-consumer streaming platform, FOX One, providing forecasts linked to political, economic, weather and cultural events. Reuters
