Core Insights - An investigation into India's restaurant industry has revealed alleged tax evasion, with several prominent biryani and dining chains under scrutiny for concealing sales amounting to Rs700 billion ($7.7 billion) since the financial year 2019-2020 [1][3] Investigation Details - The Income Tax Department's Hyderabad unit conducted the investigation using forensic data analytics and AI tools to analyze 60 terabytes of billing records from over 100,000 restaurants [2] - The billing software platform analyzed accounts for approximately 10% of India's restaurant billing market, linking to around 177,000 restaurant IDs [3] Findings on Revenue Concealment - Investigators identified suppressed turnover of at least $7.7 billion since 2019-2020, with the department yet to finalize tax demands or penalties on the concealed income [3] - Restaurants across India reportedly executed post-billing deletions totaling Rs133.7 billion, with the highest deletion activity noted in states like Gujarat, Karnataka, Maharashtra, Telangana, and Tamil Nadu [3][4] Patterns of Deletion - A recurring pattern observed was the selective deletion of cash invoices, where restaurants allegedly retained only a portion of cash entries while deleting others to minimize income tax and GST exposure [5] - Investigators also found a "bulk deletion" method, where bills for selected date ranges—sometimes up to 30 days—were erased before tax returns were filed, showing only a fraction of actual sales [5] Scope of the Investigation - The reviewed database encompassed Rs2,430 billion of billing across six financial years from 2019-2020 to 2025-2026 [6] - High-capacity systems and AI tools, including generative AI, were employed to analyze transactions and map GST numbers to individual restaurants using publicly available information [6] - Following initial findings, the Central Board of Direct Taxes has decided to broaden the investigation to include a wider array of restaurants across India [6]

Core Insights - Pertamina and Halliburton have signed a memorandum of understanding to explore new well construction and stimulation technologies in Indonesia [1][2] - The partnership aims to enhance upstream production sustainability and ensure reliable energy supply through advanced technologies [2][3] Technology and Services - The collaboration will evaluate multi-stage hydraulic fracturing, acid stimulation, and advanced cementing services for selected onshore fields [1] - Halliburton plans to improve operational efficiency, cost management, and production output using various technology platforms, including digital integration and advanced drilling tools [3][4] Automation and AI Integration - The partnership includes the potential application of automation systems and AI to enhance drilling and fracturing processes [2] - Halliburton's offerings such as DecisionSpace 365 and LOGIX automation aim to streamline rig activity and improve safety measures while reducing ownership costs [4][5] Intelligent Drilling Solutions - The iStar intelligent drilling and logging platform provides real-time data streaming and precision in wellbore placement, which is crucial for optimizing reservoir evaluation [6] - Automation features and AI in the iStar platform are designed to enhance productivity and minimize unplanned downtime [6] Localized Insights and Performance Improvement - Halliburton integrates unconventional methodologies with localized reservoir insights to enhance performance and maximize asset value for customers [7]

Core Insights - Berkshire Hathaway is experiencing a historic transition as Warren Buffett retires from his CEO role, marking the first year without his direct oversight of the company's operations and its $319 billion investment portfolio [1][4] Company Overview - Greg Abel, Buffett's successor, has committed to adhering to many of Buffett's investment principles, although changes are anticipated, particularly regarding Berkshire's largest investment holding, Apple [2][5] Investment Focus - Apple has been the largest holding in Berkshire Hathaway's portfolio for nearly a decade, driven by its technological innovation and strong consumer goods appeal [5] - The company has cultivated a loyal customer base willing to pay premium prices for its products, particularly the iPhone, which has made Apple an attractive investment for Buffett [6] Share Buyback Program - Apple's significant share buyback program, initiated in 2013, has resulted in over $841 billion in repurchased stock, reducing the number of outstanding shares by more than 44%, which can enhance earnings per share for companies with stable or growing net income [7] Recent Developments - The integration of artificial intelligence into Apple's products is expected to further enhance its growth and strengthen consumer loyalty [8] - Despite these advantages, Buffett sold a substantial amount of Apple stock prior to his retirement, reducing Berkshire's stake by 75% over nine quarters, which he framed as a tax-advantaged strategy [9][10]

Core Insights - Tata Consultancy Services (TCS) and Cisco have established a new Centre of Excellence (CoE) in Hyderabad to advance autonomous enterprise operations [1][2] - The CoE aims to transition customers from conventional rule-based automation to intelligent, self-governing systems [2][3] Group 1: CoE Objectives and Functionality - The CoE will leverage TCS' five-level Services Autonomy Model to support enterprise clients in achieving higher operational autonomy [3] - It will develop AI-first solutions tailored to specific business processes across multiple industry sectors [3][6] - The centre will focus on enabling zero-touch operations, reducing complexity and operational friction within enterprise environments [5] Group 2: Technological Integration - The collaboration will integrate advanced tools from both companies, including Cisco AppDynamics, Cisco Splunk, TCS ignio, and TCS Cognix [3] - The core technological strategy is based on agentic AI mesh architectures, which will utilize observability data for real-time behavioral insights and intelligent automation [4] Group 3: Partnership and Long-term Goals - The establishment of the CoE builds on a partnership of over twenty years between TCS and Cisco in enterprise infrastructure and automation [6] - The focus is on developing connected IT ecosystems that support innovation and adaptive operating models for large enterprises [6]

Australian fresh-produce supplier Freshmax Group has hired former Bubs Australia chief executive Reg Weine as its new CEO. In a statement, the company highlighted Weine’s experience of more than 25 years across public and private markets, agri food and FMCG. Weine’s most recent executive role was CEO of infant-formula company Bubs Australia, a position he held from August 2023 until last July. Investment manager Roc Partners acquired Freshmax last year and at the time said it planned to invest “signifi ...

Core Viewpoint - American Airlines Group Inc. is positioning itself for growth by seeking to resume flights to Venezuela and projecting strong financial performance for 2026 [1][3][7] Group 1: Business Expansion - American Airlines has applied to operate flights to Caracas and Maracaibo through its subsidiary, Envoy, aiming to resume a popular route between Miami and Venezuela [2][3] - The airline has submitted a six-page application to the federal Department of Transport for exemption authority to facilitate these flights [2] Group 2: Financial Performance - The company anticipates adjusted earnings per share of $1.70 to $2.70 for 2026, exceeding consensus estimates of $2.01 [3] - American Airlines expects cash flow from operations to reach $2 billion [3] - The airline reported record fourth-quarter 2025 revenue of $14 billion and full-year revenue of $54.67 billion [3] Group 3: Market Position and Analyst Sentiment - CEO Robert Isom emphasized the strong foundation built by the company and its focus on enhancing customer experience, network, fleet, partnerships, and loyalty programs [4] - Citi has placed American Airlines on a 90-day upside catalyst watch, maintaining a Buy rating with a price target of $21, reflecting a positive outlook for the airline sector following recent results [4]

Core Insights - RB Global, Inc. (NYSE:RBA) is recognized as a high-growth industrial stock, showcasing strong performance in Q4 and full-year 2025 results while advancing strategic priorities [1] Financial Performance - Q4 revenue increased by 5% year-over-year to $1.2 billion, with gross transaction value rising 4% to $4.3 billion [2] - Service revenue grew by 5% to $917.5 million, and inventory sales revenue saw a 7% increase to $285.9 million [2] - Full-year revenue rose by 7% to $4.59 billion [2] - Net income decreased by 8% to $109.4 million, while diluted adjusted earnings per share increased by 17% year-over-year to $1.11 [3] - Full-year diluted adjusted earnings per share also increased by 15% to $3.49 [3] Future Outlook - The company issued a positive outlook for 2026, expecting gross transaction value to grow by 5% to 8% [3] - Adjusted EBITDA is projected to be between $1.47 billion and $1.53 billion, marking a significant improvement from $1.3 billion in 2025 [3] Company Overview - RB Global, Inc. operates as a leading omnichannel marketplace for buying and selling commercial assets, vehicles, and heavy equipment globally, utilizing brands like Ritchie Bros. and IAA [4]

Group 1 - Intuitive Machines Inc. (NASDAQ:LUNR) is recognized as a high-growth industrial stock, with B. Riley reiterating a Buy rating and raising the price target from $20 to $25 [1][2] - The company is expected to benefit from a favorable environment for space and lunar commercialization, capitalizing on increasing lunar activity that will drive demand for communications, navigation, and surface mobility services [2][3] - Intuitive Machines operates a Near Space Network space data relay satellite constellation and lunar terrain vehicles, positioning itself to benefit from SpaceX's focus on lunar city development [3][4] Group 2 - The company completed an $800 million acquisition of Lanteris Space Systems, enhancing its flight-proven manufacturing capabilities for lunar operations [4] - Intuitive Machines is focused on commercializing lunar access through robotic delivery, data transmission, and infrastructure services, and aims to be the first commercial entity to soft-land on the Moon in 2024 [5][8]

Core Insights - Binance claims to have reduced its exposure to sanctioned entities by nearly 97% since early 2024, amidst controversy regarding alleged Iran-linked fund flows exceeding $1 billion in Tether transactions [1][7] Compliance Measures - On February 23, Binance published a blog post asserting it has the most rigorous compliance measures in the industry, outperforming its top-10 global peers in managing sanctions-related risks [2] - The exchange reported a decrease in exposure to sanctioned entities from 0.284% of total trading volume in January 2024 to 0.009% by July 2025 [2] Interaction with Iranian Exchanges - Direct interactions with four main Iranian crypto exchanges reportedly fell from $4.19 million in January 2024 to $110,000 by January 2026 [3] Workforce and Investment in Compliance - Approximately 25% of Binance's global workforce, over 1,500 employees and contractors, is dedicated to compliance efforts [3] - The company claims to spend hundreds of millions of dollars on advanced screening technologies, monitoring systems, and training programs [3] Independent Compliance Investigations - Compliance investigations at Binance are conducted independently, free from interference by shareholders or executive leadership, with decisions based on law and established procedures [4] Law Enforcement Collaboration - In 2025, Binance responded to over 71,000 law enforcement inquiries globally, aiding in the recovery of over $131 million in illicit cash and conducting over 160 training sessions for regulators and law enforcement [5] Founder’s Statement - Founder Changpeng Zhao (CZ) emphasized the strength of Binance's compliance program, asserting it remains among the best in the industry [6]

Core Viewpoint - WESCO International, Inc. is identified as a high-growth industrial stock, with KeyBanc Capital Markets raising its price target to $340 from $304 following solid fourth-quarter results [1][2]. Financial Performance - In Q4 2025, WESCO International reported revenue of $6.07 billion, a 10% increase year over year, although adjusted earnings per share were $3.40, which fell short of the consensus estimate of $3.89 [2]. - The company achieved record full-year revenue of $23.5 billion, reflecting an 8% year-over-year increase, with a backlog growth of 19% at year-end [3]. - Full-year adjusted earnings per share rose by 5.6% to $12.91 compared to $12.23 in 2024 [3]. Future Outlook - WESCO International anticipates continued sales growth momentum in 2026, projecting a sales growth rate of 5% to 8% and an EBITDA margin of 6.8% [4]. - The company expects full-year adjusted EBITDA to be between $14.50 billion and $16.50 billion [4]. - KeyBanc expresses confidence in WESCO's outlook, suggesting that the guidance provided is conservative [4]. Company Profile - WESCO International, Inc. is a leading Fortune 500 company that provides business-to-business supply chain solutions, logistics, and distribution of electrical, industrial, and communications products [5]. - The company is headquartered in Pittsburgh, Pennsylvania, and serves customers in the construction, utility, and broadband sectors across 50 countries [5].