1.Ratan Tata, Indian business titan and philanthropist died aged 86, sparking an outpouring of global tributes.

Tata Group’s former chairman became one of the world’s most recognisable business leaders after transforming his family’s 156-year-old company into a $100 bn empire, acquiring major international brands like Jaguar Land Rover and Tetley tea, before retiring in 2012.

He had recently backed startup’s including e-scooter maker Ola and Goodfellows, a website aiming to foster intergenerational friendship. Google CEO Sundar Pichai said Tata “leaves an extraordinary business and philanthropic legacy,” while Indian billionaire Anand Mahindra highlighted Tata’s role in placing “India’s economy… on the cusp of a historic leap forward.

2.With Ratan Tata's death, leadership focus turns to next generation of Tatas

Among the key figures is Noel Naval Tata, Ratan Tata’s half-brother, who is considered a potential successor. Noel Tata has been with the Tata Group for four decades and holds key roles, including Chairman of Trent, Tata International, Voltas, and Tata Investment Corporation, as well as Vice Chairman of Tata Steel and Titan Company. He is also a trustee of the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust.

Noel’s children—Leah, Maya, and Neville—are also rising within the company, carving out their own paths within the group.

3.Ratan Tata, leading Indian businessman, 1937-2024; Obituary in Financial Times

Ratan Tata, who was one of India’s best known businesspeople and led his family conglomerate on a bold international expansion, has died aged 86.

An industrialist from an influential Zoroastrian Parsee clan, Tata wanted his family’s storied corporate group to wield clout beyond the nation it helped to build — but found its execution did not always match his grand vision.

Born in Mumbai (then Bombay) in 1937, Tata’s life spanned a period of enormous change for India — from winning independence from Britain in 1947 to becoming the world’s fifth-largest economy in 2022. 

Tata was “an uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation”, said Natarajan Chandrasekaran, current chair of the group holding company, in a statement.

Attending prestigious prep schools in Mumbai and graduating from New York state’s Cornell University in architecture studies, Tata first worked in Los Angeles, where he said he “fell in love and almost got married”.  But the relationship disintegrated after he returned to Mumbai to spend time with his ailing grandmother — a stabilising presence in his childhood after his parents’ divorce — and the 1962 war between India and China deterred his would-be partner from joining him.

Tata worked on the steel shop floor of the family business, which was founded by his great-grandfather in 1868, before moving into management. In 1991, he took over as chair from his uncle, JRD Tata. His accession coincided with India’s economic opening to the world, and under his leadership the group ventured abroad.

Read on.

4.Europe’s core and its periphery seem on separate economic tracks

France, issuing its annual budget today, is expected to announce spending cuts and tax rises to deal with its deficit. Britain, too, is gearing up for a budget aimed at closing a yawning deficit, while Germany’s economy is anticipated to contract for a second year in a row.

But on the continent’s fringes, things are different:Portugal plans to lower taxes, to attract younger, educated workers and retain its brightest and best, Spain is increasingly keen to bring in migrants to boost its workforce, and Ireland has “more money than sense,” the Financial Times said: Dublin has had years of budget surpluses, and its problem is spending that money.

5.Taiwanese chipmaker Foxconn said it would build the world’s largest factory for Nvidia chips in Mexico, part of a wave of nearshoring investments in the country.

Mexico has benefited from global firms — notably US ones — looking to divest from China, as tensions between Beijing and Washington have ramped up. However, concerns over the erosion of the rule of law in the country could threaten an even bigger wave of foreign capital flows. According to a poll by the Mexican central bank, just 5% of investors said last month that now was a good time to invest in Mexico, down from more than 40% as recently as March.

6.Renewable energy sources are on course to meet half of total global electricity demand by 2030. 

An International Energy Agency report forecast that the world would add 5,500 gigawatts of new renewable sources in the next five years, roughly equal to the entire power capacity of China, the EU, India and the US combined.

The report emphasised the need for improved infrastructure to integrate the new energy sources: In some countries, up to 10% of renewably generated electricity isn’t used, because of periodic oversupply and inadequate grids. It came as a research firm projected that the world has “avoided the most catastrophic projections” of global warming, but was still on track for temperatures to exceed a 2°C rise.

7.Effective Leaders aren’t the ones you expect: A conversation with historian and professor Martin Gutmann

the latest podcast episode of How to Make a Leader, historian and management professor Martin Gutmann challenges our conventional understanding of leadership with a look back at leaders throughout history. In many organizations, we often associate leadership with the loudest voices or the most dramatic actions, but Martin argues that true leadership is often unseen and underestimated.

Drawing from his book The Unseen Leader, Martin uses historical examples to demonstrate how the most impactful leaders are often those who move quietly and strategically behind the scenes.