Business
Airlines warn flight cancellations will continue even after shutdown ends
A board shows two cancelled American Airlines flights and three on time at Logan International Airport in Boston, Massachusetts, U.S., Nov. 7, 2025.
Brian Snyder | Reuters
Flight disruptions that have marred air travel for millions of people in recent weeks could continue even after the government shutdown ends, airlines and the secretary of Transportation said.
The Senate on Monday night passed a bill that could end the longest federal government shutdown in history, sending it to the House for a vote.
But Transportation Secretary Sean Duffy said Tuesday that won’t be an immediate fix.
“We’re going to wait to see the data on our end before we take out the restrictions in travel but it depends on controllers coming back to work,” Duffy said at a press conference at Chicago O’Hare International Airport.
Duffy also warned severe disruptions over the past few days could get much worse without a deal.
The Senate vote came as staffing shortages of air traffic controllers, who are required to work without their regular paychecks in the shutdown, have delayed or canceled thousands of flights, with issues worsening in recent days. Controllers missed their second full paychecks of the shutdown this week, and some have taken up second jobs and are working with increasing levels of stress, government and union officials have said.
Even if the House passes the bill that will fund the federal government through January, airlines said they will need time to readjust.
“Airlines’ reduced flight schedules cannot immediately bounce back to full capacity right after the government reopens,” Airlines for America, a lobbying group for airlines including Delta Air Lines, United Airlines, American Airlines and Southwest Airlines, said late Monday. “It will take time, and there will be residual effects for days. With the Thanksgiving travel period beginning next week and the busy shipping season around the corner, the time to act is now to help mitigate any further impacts to Americans.”
Airlines will need time to reconfigure schedules and position planes and crews, something they were forced to quickly address with last week’s required flight cuts.
More than 5 million travelers have been affected by airline staffing issues since the shutdown began on Oct. 1, Airlines for America said . The disruptions have sent some passengers looking for alternatives, from buses to rental cars and even private jets.
Last Friday, the Trump administration started requiring commercial airlines to cut 4% of their domestic flights at 40 busy U.S. airports, with larger reductions on the way if the shutdown doesn’t end, as officials blamed the strain on air traffic controllers.
Aviation groups have said that record numbers of travelers are expected for the Thanksgiving period, with the holiday just over two weeks away.
Just over 5% of the scheduled 22,811 U.S. departures were canceled on Tuesday, a relatively light day for travel generally, according to aviation data firm Cirium. That’s down from an 8.7% cancellation rate on Monday, or 2,239 flights, and 2,633 cancellations on Sunday, or 10.2% of the schedule. Delays had also piled up with staffing shortages and bad weather at major hubs, including Chicago O’Hare.
The shutdown, like the one in late 2018 to early 2019, has thrust aviation’s strains into the spotlight. The previous shutdown, however, ended hours after a shortfall of air traffic controllers snarled air traffic in the New York area.
Aviation groups on Tuesday urged lawmakers to not only end the shutdown but to provide more Department of Transportation funding to help modernize air traffic control and hire more controllers, who were in short supply even before the shutdown began.
“The government shutdown has disrupted that work and slowed the strong momentum we have built for modernization,” the Modern Skies Coalition, which includes major airline, airport and aerospace groups such as Boeing, GE Aerospace and others, as well as labor unions, wrote in an open letter to Congress.
President Donald Trump on Monday threatened to dock pay of air traffic controllers who are absent. “All Air Traffic Controllers must get back to work, NOW!!!,” he wrote in a post on Truth Social, adding that he would recommend $10,000 bonuses for any air traffic controllers who weren’t absent during the shutdown.
Duffy said he supported Trump’s idea and that he was concerned about the dedication and “patriotism” of controllers who haven’t shown up for work. “If we have controllers who systemically weren’t doing their job, we will take action,” he said.
Duffy said controllers would receive about 70% of their pay within two days of the shutdown ending.
A day earlier, Nick Daniels, president of the National Air Traffic Controllers Association union, said it took about 2½ months before the workers were made whole in the shutdown that ended in 2019.
Duffy said the shutdown has made air traffic controller staffing more challenging, with 15 to 20 of them retiring a day instead of around four retiring a day before the government closure. He said the country is roughly 2,000 controllers short of what the system needs.
“The job of keeping aviation safe and secure is tough every day, but forcing federal employees to do it without pay is unacceptable,” the Modern Skies Coalition wrote in its open letter. “We owe public servants at the Federal Aviation Administration (FAA) and other agencies supporting aviation, like the National Transportation Safety Board, the Transportation Security Administration and Customs and Border Protection, a debt of gratitude and a swift ending to this shutdown.”
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RBI releases draft to revise Kisan Credit Card Scheme, standardizing crop cycles, extending loan tenure to six years, and aligning credit limits with cultivation costs.
From Crop Cycles To Loan Tenure: 4 Key Changes In RBI’s KCC Proposal
Kisan Credit Card Scheme: The Reserve Bank of India (RBI) has released draft directions to revise the Kisan Credit Card (KCC) Scheme, aiming to expand coverage, streamline operations, and align credit norms with evolving agricultural needs.
Standardized Crop Cycles And Extended Loan Tenure
As outlined in the draft, crop seasons have been standardized to introduce uniformity in loan sanctioning and repayment schedules. Short-duration crops will now be treated under a 12-month cycle, while long-duration crops will follow an 18-month cycle.
Example:
A farmer growing paddy or wheat (harvested in a few months) will follow a 12-month loan cycle.
A farmer growing sugarcane (which takes 12–18 months) will get an 18-month cycle.
To better align loan tenure with these crop cycles, especially for longer-duration crops, the overall tenure of the KCC facility has been extended to six years. The move is expected to provide farmers with greater flexibility in repayment and reduce rollover pressures.
Example:
If a farmer growing sugarcane faces a bad monsoon in Year 2, he doesn’t have to rush repayment immediately. The 6-year window gives more breathing space and reduces pressure to take fresh loans to repay old ones.
The draft directions apply to Commercial Banks, Small Finance Banks, Regional Rural Banks, and Rural Co-operative Banks, indicating a system-wide implementation once finalized.
Drawing Limits Linked To Cost Of Cultivation
The RBI has proposed aligning drawing limits under the KCC scheme with the scale of finance for each crop season . This adjustment aims to ensure that farmers receive credit in line with the actual cost of cultivation, addressing concerns around under-financing.
Example:
If growing cotton in a district costs Rs 60,000 per acre (as per agriculture department data), banks will align KCC limits accordingly — instead of giving a lower, outdated amount like Rs 40,000.
In addition, the draft expands eligible components under the KCC framework. Expenses related to technological interventions—such as soil testing, real-time weather forecasts, and certification for organic or good agricultural practices—have been included within the existing 20% additional component earmarked for repairs and maintenance of farm assets .
Example:
If a farmer wants to:
- Test soil before sowing
- Subscribe to real-time weather alerts
- Get organic farming certification
These costs can now be covered under KCC instead of paying from pocket.
What Is Kisan Credit Card Scheme?
The Kisan Credit Card scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedures to the farmers for their cultivation and other needs.
The KCC scheme was introduced in 1998 for the issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc. and draw cash for their production needs.
KCC covers post-harvest expenses, produce marketing loan, consumption requirements of farmer households, working capital for maintenance of farm assets and activities allied to agriculture, investment credit requirement for agriculture and allied activities.
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February 14, 2026, 12:49 IST
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Business
Four ports under construction in Andhra Pradesh, Centre tells Lok Sabha – The Times of India
The Centre is pushing port-led infrastructure expansion in Andhra Pradesh, with four ports currently under construction, even as it steps up nationwide port modernisation and efficiency measures.As per information shared on Friday in Parliament, the ports under construction in Andhra Pradesh are Mulapeta Port (formerly Bhavanapadu Port) in Srikakulam district, Machilipatnam Port in Krishna district, Ramayapatnam Port in SPSR Nellore district, and Kakinada SEZ Port in Kakinada district.The government said it is undertaking measures such as mechanisation of berths and terminals, digitalisation and logistics integration, new berth construction, capital dredging for larger vessels, and connectivity upgrades across road, rail and waterways.It has also rolled out initiatives including elimination of manual forms, direct port delivery and entry, container scanners, e-delivery of documents and payments, RFID-based gate automation and Maritime Single Window platform SagarSetu 2.0 to cut vessel turnaround time.Two new ports — Vadhavan Port in Maharashtra and Galathea Bay Port in Andaman and Nicobar Islands — have been notified as major ports. At present, 12 major ports operate under the central government, while 68 other-than-major ports are under state governments.Under the Sagarmala scheme, financial assistance is provided across five pillars including port modernisation, connectivity, port-led industrialisation, coastal community development and inland water transport.The government has also launched HaritSagar green port guidelines, the Green Tug Transition Programme (GTTP), and the Cruise Bharat Mission to promote sustainability and cruise tourism.The information was given by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal in a written reply to the Lok Sabha.At present, 12 major ports operate under the administrative control of the central government, while 68 operational other-than-major ports are under state governments.The government said it has launched multiple national programmes for port development, expansion and upgradation. Under the Sagarmala scheme, financial assistance is provided under five pillars — port modernisation, port connectivity, port-led industrialisation, coastal community development, and coastal shipping and inland water transport.Green and sustainability-linked initiatives have also been introduced. The government has launched HaritSagar green port guidelines to promote environment-friendly port ecosystems and initiated the Green Tug Transition Programme (GTTP) to shift harbour tugs towards greener fuel alternatives.Further, the Cruise Bharat Mission has been launched to prioritise cruise tourism development across the country.
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Anthropic’s AI tools have triggered a sharp decline in Indian IT stocks like TCS, Infosys, Wipro, eroding Rs 3,11,873 crore in market value.
Anthropic’s valuation surpassed combined value of total IT firms in India
The entire Information Technology (IT) industry in India is battering with the existential threat, which comes on the heels of rising generative AI, posing doubts over the viability of their business model.
Stocks of the IT industries, including Tata Consultancy Services (TCS), Infosys, Wipro, etc., hit brutally over the past week. This was triggered with the launch of new AI tools by Anthropic’s Claude for Cowork, which is like an office teammate helping the user to do tasks such as file sorting, reading legal drafts, etc.
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Anthropic’s Valuation vs Nifty IT Index
Anthropic’s phenomenal valuation rise has surpassed the combined value of India’s top IT firms. Standing at a valuation of $380 billion, the US-based AI company has eclipsed India’s Nifty IT index, whose market cap was at $296.4 billion by the time of writing this report.
Investors are accelerating their exit from technology stocks as concerns intensify that advanced artificial intelligence tools could disrupt core segments of the global software and IT services industry.
This week alone, TCS, Infosys and HCL Technologies dragged 9-11 per cent.
The sharp correction has wiped out substantial investor wealth. Based on intraday lows, the combined market capitalisation of the top five domestic IT companies has eroded by nearly Rs 3,11,873 crore this week.
TCS emerged as the biggest laggard, losing Rs 1,28,800 crore in market value, with its market capitalisation slipping to Rs 9,35,253 crore. The fall also pushed it to the fifth-most valued listed company from the fourth position.
Infosys has seen its market capitalisation shrink by Rs 91,431 crore following a 15 per cent decline this week. HCL Technologies has lost Rs 53,647 crore in market value over the past five trading sessions. Wipro and Tech Mahindra have also recorded declines, with their market capitalisations falling by Rs 22,762 crore and Rs 15,233 crore, respectively, during the same period.
| Company Name | Mcap ($Billion) |
| Tata Consultancy Services | 107.4 |
| Infosys | 61.2 |
| HCL Technologies | 43.6 |
| Wipro | 24.8 |
| Tech Mahindra | 16.6 |
| LTIMindtree | 16.7 |
| Persistent Systems | 9.5 |
| Oracle Financial Services Soft | 6.4 |
| Coforge | 5 |
| Mphasis | 5.2 |
| Total | 296.4 |
Source: Bloomberg
Anthropic’s Recent Funding Round
Anthropic has recently raised $30 billion in Series G funding led by GIC and Coatue, valuing Anthropic at $380 billion post-money, as announced by the company in the press release.
The investment will fuel the frontier research, product development, and infrastructure expansions that have made Anthropic the market leader in enterprise AI and coding.
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February 14, 2026, 09:15 IST
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