Top Stories | Mehli Mistry’s exit from Tata Trusts, MCX glitch halts trading, Amazon job cuts, and more

Good evening, readers - here’s your Tuesday wrap of the day’s top developments from business, politics, and beyond.

In a major shake-up at the Tata Trusts, Ratan Tata’s long-time confidant Mehli Mistry is likely to have been ousted from the board, with multiple trustees reportedly opposing his reappointment.

On Dalal Street, traders were left frustrated after the Multi Commodity Exchange (MCX) suffered a prolonged trading halt due to a technical glitch, raising fresh questions about system reliability.

Globally, Amazon announced plans to slash 14,000 corporate jobs as it doubles down on AI and cloud expansion, while OpenAI unveiled 12 months of free ChatGPT Go access for Indian users starting November 4.

Elsewhere, Indian Oil reaffirmed its intent to continue sourcing Russian oil, Japan’s new PM met Donald Trump in a symbolic diplomatic outreach, and Cyclone Montha intensified into a severe storm, prompting red alerts across India’s east coast.

Ratan Tata confidant Mehli Mistry likely ousted from Tata Trusts Board: Sources



Ratan Tata's confidante Mehli Mistry is likely to have been ousted from the board of the Tata Trusts. The reappointment of Mistry as a trustee on the Tata Trusts board appears unlikely, with sources close to the Tata Group telling CNBC-TV18 that at least three trustees have voted against the move.

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MCX trading halt sparks concern among brokers over system reliability

Trading on the Multi-Commodity Exchange of India (MCX) came to a standstill for several hours on October 28 due to what the exchange described as a technical glitch. The halt left traders unable to buy, sell, or hedge positions — and brokers say this is not the first time such a disruption has occurred.

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Amazon to cut 14,000 corporate jobs as it shifts focus to AI and cloud expansion



Amazon, on Tuesday, announced plans to cut about 14,000 corporate jobs, or roughly 4% of its corporate workforce, as part of a company-wide reorganisation focused on artificial intelligence and efficiency.

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Ark Invest's Cathie Wood sees potential 'reality check' ahead for AI stocks



Ark Invest CEO Cathie Wood said the booming artificial intelligence sector could face a valuation “reality check” as market expectations collide with shifting interest rate dynamics.

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OpenAI offers 12 months of free ChatGPT Go access to all users in India



US-based artificial intelligence (AI) organisation OpenAI, on Tuesday, announced a new offer in India, providing 12 months of free access to ChatGPT Go. According to the company, the promotion will be available to users who sign up during a limited period starting November 4.

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'Absolutely not going to discontinue': IOC to buy Russian oil from non-sanctioned entities



Indian Oil Corporation (IOC) and other Indian oil firms made clear they do not intend to completely stop purchasing Russian oil while complying with the US sanctions.

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In Pics | Japanese PM Sanae Takaichi rekindles Abe-Trump bond with symbolic gifts to US President



Japan’s new Prime Minister Sanae Takaichi met US President Donald Trump on Tuesday, October 28, presenting gifts rich with symbolism from the late Shinzo Abe’s legacy — a gesture aimed at reviving a once-close alliance. According to Reuters, the meeting reflected efforts to strengthen Japan-US ties and bolster Takaichi’s new administration at home.

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Watch | Rains lash Andhra, Odisha, Tamil Nadu as Cyclone Montha intensifies into a severe storm



A severe weather threat looms large over the eastern coast as Cyclone Montha intensifies into a severe cyclonic storm over the west-central Bay of Bengal. The India Meteorological Department (IMD) has issued red alerts for parts of Andhra Pradesh, Odisha, and Tamil Nadu, urging coastal residents to remain indoors and fishermen to stay away from sea operations.

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Bihar polls: Mahagathbandhan launches manifesto 'Bihar ka Tejashwi Pran'; Check key points here



The Congress and RJD-led Mahagathbandhan launched the poll manifesto for the upcoming Bihar Elections 2025 on Tuesday, October 28. Titled "Bihar ka Tejashwi Pran", the manifesto outlines the roadmap for the poll as campaigning gears up for a high-stakes election.

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