Business
Tesla CEO Elon Musk Extends Diwali Greetings

New Delhi: Tesla and SpaceX CEO Elon Musk on Monday extended Diwali greetings to Indians and millions of people celebrating the festival of lights across the world.
Musk reposted a Diwali greeting on the social media platform X, saying “Happy Diwali”, while tagging a post from his company’s subsidiary Tesla India, saying, “Wishing you an electrifying and safe Diwali.”
Musk on October 2 became the world’s first person ever to reach a net worth of $500 billion, followed by Oracle’s Larry Ellison at a distant second. According to Forbes’ billionaires index, Musk’s net worth stood at $500.1 billion on October 2.
His feat came as Tesla shares rose over 14 per cent so far this year, closing 3.3 per cent higher on Wednesday (US time), adding more than $6 billion to Musk’s wealth.
Musk’s AI startup xAI was valued at $75 billion (as of July). xAI was targeting a $200 billion valuation after a fundraise, although Musk said the company was not raising capital at that time.
Meanwhile, Tesla has started delivering standard Model Y to its customers in India, while the delivery of the Long Range variant is going to commence soon.
The electric vehicle maker has announced that the new Model Y owners will be provided with a complimentary Wall Connector, allowing convenient installation in their parking space for easy home charging. The Model Y is available at a starting price tag of Rs 59.89 lakh.
In August, Tesla inaugurated its first showroom in the National Capital Region (NCR) at the Worldmark 3 complex in Aerocity, marking the electric carmaker’s second retail location in India (after Mumbai).
Several other global tech industry leaders also extended their Diwali wishes during the day. Apple CEO Tim Cook shared wishes along with sharing an image taken by an Indian photographer with an iPhone 17 Pro Max. Google CEO Sundar Pichai also extended his greetings for the festival of lights.
Business
Disney+ cancellations soar after Jimmy Kimmel suspension

Danielle KayeBusiness reporter

Disney+ and Hulu cancellations rates doubled in September after TV host Jimmy Kimmel was briefly taken off air, suggesting the move may have hurt the entertainment giant financially.
Data from analytics firm Antenna shows Disney+’s so-called churn rate – the percentage of subscribers who cancel each month – jumped from a 4% average to 8%, which equates to about three million cancellations, while Hulu’s rose to 10% or more than 4 million.
Disney suspended Kimmel after comments he made about the shooting of Charlie Kirk, following pressure from a federal regulator. The decision sparked free speech debates.
ABC, which airs Jimmy Kimmel Live, reinstated him within a week after a backlash.
Disney, which owns ABC, decided on 17 September to take the comedian off air, two days after Kimmel had said, during one of his shows, the “Maga gang” was “desperately trying to characterise this kid who murdered Charlie Kirk as anything other than one of them” and of trying to “score political points from it”.
The abrupt suspension came hours after Brendan Carr, chair of broadcast regulator, the Federal Communications Commission (FCC), threatened to revoke ABC’s broadcast licence.
The move was met with protests in California and lambasted by the writers and actors guilds, lawmakers and the American Civil Liberties Union (ACLU).
Critics and First Amendment advocates had railed against ABC’s decision as censorship and a violation of free speech. They also called for economic pressure on Disney, urging people to boycott the company’s services.
Hundreds of celebrities and Hollywood creatives signed a letter backing Kimmel, who was later reinstated.

The new data from Antenna, released on Monday, offers the first indication that Disney may have taken a hit from the blow-back.
Disney+ and Hulu lost millions more subscribers in September compared to recent months, while Netflix saw its churn rate hold steady at 2%.
But it is not clear whether Kimmel’s suspension was the only factor driving the surge in cancellations.
Disney’s move to suspend Kimmel coincided with its announcement of previously planned increases to subscription prices, as the company faces pressure to boost its profit from streaming services.
Despite the rise in cancellation rates, both Disney+ and Hulu saw an uptick in new sign-ups in September, offsetting some of the loss, according to Antenna.
Disney declined to comment and Hulu is yet to respond. However, Disney noted discrepancies between Antenna’s data and its internal figures.
Business
Video: What to Know About the ICE Raid at a Hyundai Plant

new video loaded: What to Know About the ICE Raid at a Hyundai Plant
By Farah Stockman, Gabriel Blanco, June Kim and Claire Hogan
October 20, 2025
Business
Pizza Hut to close 68 UK restaurants

Charlotte EdwardsBusiness reporter, BBC News

Pizza Hut is to close 68 restaurants and 11 delivery sites in the UK with the loss of 1,210 jobs, after the firm running them fell into administration.
DC London Pie Limited, which operates Pizza Hut’s UK restaurants, appointed FTI Consulting as administrators on Monday.
However, Pizza Hut’s global owner Yum! Brands has agreed to save 64 restaurants, preserving 1,276 jobs.
Pizza Hut is well known for its family-friendly dining and salad bar, but its UK business has been struggling and had previously gone into administration less than a year ago.
DC London Pie had bought Pizza Hut UK’s restaurants from insolvency in January this year. The company also owns Pizza Hut franchises in Sweden and Denmark.
A spokesperson for Pizza Hut UK said: “We are pleased to secure the continuation of 64 sites to safeguard our guest experience and protect the associated jobs.”
Nicolas Burquier, managing director for Pizza Hut Europe and Canada, said: “This targeted acquisition aims to safeguard our guest experience and protect jobs where possible.”
He added that the immediate priority for Pizza Hut was “operational continuity at the acquired locations and supporting colleagues through the transition”.
Zoe Adjay, a senior lecturer in hospitality at the University of East London, said Pizza Hut had been “at the forefront of bringing fast food into the UK” in the 1970s, but had struggled to remain relevant amid increased competition.
“The pizza market has become a lot more upmarket,” she said. “There’s a lot more high-end pizza and they’ve taken a huge market share.”
Ms Adjay added that Pizza Hut had also failed to establish itself on social media in the same way as some of its competitors.
Increased operating costs and “ongoing consumer caution” will likely have contributed to Pizza Hut’s challenges, according to Danni Hewson, head of financial analysis at AJ Bell.
“DC London Pie had rescued Pizza Hut’s UK operations from insolvency less than a year ago, but making a success of a big-name casual dining businesses is a tough job.
“Taking back the brand looks a smart move by Yum! Brands as it has decades of data about how pizza lovers like to consume and exactly what factors need to coalesce to make a location a success.”
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