Top Business & Market Headlines Today — BL Morning Report, Nov 6, 2025

The Centre on Wednesday has released India AI Governance Guidelines with the goal of harnessing the transformative potential of artificial intelligence (AI) for inclusive development and global competitiveness, while addressing the risks it may pose to individuals and society. However, the government has maintained that it is not a legislation and it would not introduce any regulation, but added that existing regulations can be applied to address many of the risks. For instance, existing laws like information technology, data protection, consumer protection and statutory civil and criminal codes, etc, can be used to govern AI applications, reports S Ronendra Singh. IBM to cut thousands of jobs as focus shifts to AI, cloud software IBM on Tuesday announced layoffs affecting a low single-digit percentage of its global workforce, potentially impacting thousands. Sources told businessline that India is likely to be among the regions impacted. The country accounts for an estimated 30–35% of IBM’s global workforce of over 270,000, making it one of the company’s largest employee bases, reports Sanjana B. Bihar Election Phase 1: NDA-Mahagathbandhan duel plays on caste and welfarism A bipolar contest between the ruling National Democratic Alliance (NDA) and the opposing Mahagathbandhan has eclipsed prospects of the third hopeful — debutant Prashant Kishor’s Jan Suraaj Party (JSP) — as Bihar prepares to vote in the first phase of polling in 121 constituencies spread across 18 districts on Thursday. The fate of Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha as well as Mahagathbandhan leader and chief ministerial candidate Tejashwi Yadav will be sealed in the first phase, reports Poornima Joshi. Russian crude oil flows uninterrupted to India, for now Russian crude oil imports by India were largely stable in October 2025, with cargoes growing almost 2.53 per cent M-o-M to around 1.62 million barrels per day (mb/d), as refiners maintained the momentum in line with rising domestic demand. In September, the Russian crude oil imports were at 1.58 mb/d, according to global real time data and analytics firm Kpler. The sustained flows from Moscow are also aiding Indian refiners in monetising the limited window of opportunity to sell diesel to the European Union (EU) before its January 21, 2026 deadline under latest sanctions comes into effect, writes Rishi Ranjan Kala. Relief for banks, homebuyers: ED–IBBI pact allows return of attached assets under PMLA In a major relief for banks and home buyers, assets of bankrupt companies and their promoters attached by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) can now be restored to affected creditors, following the finalisation of a new standard operating procedure (SOP) jointly framed by the ED and the Insolvency and Bankruptcy Board of India (IBBI). That’s a wrap for today’s news. Check out the hindu businessline’s website. Thank you for joining us. stay informed and stay ahead