Bad news is good business. Not everyone buys it.
Markets move. Headlines catastrophize. But somewhere inside the noise is the story that matters — the opportunity, not the fear.
The Daily Upside was built by Wall Street insiders to find it — global business and finance, reported without the alarm.
Date: 12th June, 2026
Breaking News: Journalism Is Not A Crime
The Fact: ‘The ED’s proceedings were an arbitrary attack on free and impartial journalism,’ the Delhi High Court said while dropping the cases against news organisation NewsClick. The court quashed the Delhi Police FIR and the ED's money laundering case against the news portal and its founder-editor, Prabir Purkayastha on Monday. Giving the judgment, Justice Neena Bansal Krishna stated that the FIR was a "gross abuse of the process of law". The court also noted that despite nearly 18 months of investigation by the ED, it had failed to place on record any incriminating material for money laundering. ‘There is nothing which has emerged even during the investigations that there was any person who was aggrieved or who was cheated by the petitioner (NewsClick)',’ the court said.
The Context: The case dates back to August 2020. The Delhi Police's Economic Offences Wing (EOW) filed an FIR, which alleged that NewsClick's parent company had received foreign investment from a US-based entity. The process through which they received the funds, they said, was in violation of the FDI norms. The report alleged that several investments were made, which vastly overvalued the shares of the company. This, they claimed, was done to avoid the alleged cap of 26% of Foreign Direct Investment. Based on this FIR, the ED then initiated its own investigation. This was followed by raids, rigorous questioning of the journalists and employees, seizure of financial records, and mobile phones and other communication devices. In August 2023, the Special Cell of the Delhi Police again carried out another round of raids at the NewsClick studio. This time again, an FIR was registered, but under the stringent anti-terror UAPA. Purkayastha had to spend 225 days in jail. A year later, in May 2024, the Supreme Court deemed his arrest invalid, and he was released on bail. Now, as the High Court quashed the case, it observed that the foreign investment received by NewsClick did not violate any FDI restrictions.
The Peek Insight: This is just one of many examples of the process itself becoming the punishment. The High Court’s ruling shows how central agencies make sweeping allegations like news organisations receiving ‘foreign funding to incite riots’ without any corroborative evidence. These wild allegations are sensationalised by the media to malign the accused, and in this case, label an entire section of the media as ‘anti-national’ and ‘Soros-funded’. While the agencies’ allegations fail to stand the test of law and collapse in courts, the dignity, liberty and hard-earned reputation of the accused becomes the collateral in this witch-hunt. The ED’s conviction rate has also been a matter of great debate. While the agency boasts of a massive success rate by relying on a very small subset of cases that have reached the verdict stage, the overall picture of ED’s conviction record paints a grim picture, showing how most cases fall flat. According to government data, the ED initiated 5,892 cases in the ten-year period between 2015-2025, it managed to convict a total of 15 persons with eight orders. The organisation had to shut down, people lost jobs, the editor lost his right to liberty, and reporters were labelled suspects. While the case has now collapsed, who will bear responsibility for the institutional, professional, and personal damage left behind?

Image Courtesy: The Indian Express
Three Indian Sailors Killed In The Gulf: India’s US Diplomacy Enters Choppy Waters
The Fact: Three Indian sailors have died after a US strike on an oil tanker in Gulf waters. The vessel, attacked off the coast of Oman, was headed to the island nation of Palau. 24 of its 28 crew members were Indian nationals, while 21 of them were rescued, three sailors went missing. One of them, a desk cadet, was just 23 years old. According to the US military, the tanker was transporting oil from Iran, and was targeted after allegedly attempting to breach a US-enforced blockade on Iranian shipping in the Gulf amid the escalating US-Iran conflict. Washington claimed the vessel ignored repeated warnings before a ‘precision strike’ hit its engine room, triggering a fire onboard. India subsequently summoned a senior US diplomat in New Delhi and lodged a formal protest over the attack, which has reignited concerns about the safety of Indian seafarers caught in the crossfire of the widening regional conflict.
The Context: This the the third vessel with Indian nationals on board to come under US attack in just a span of a few days. The stakes are particularly high because India depends heavily on the Gulf for its energy needs, while thousands of Indian seafarers work on ships that pass through the region's increasingly dangerous waters. India has said that the targeting of commercial shipping and civilian infrastructure in the region must end, and free navigation and commerce through the international waterways must be restored. US' attacks in Hormuz, however, continue as Trump has imposed a naval blockade of the Strait of Hormuz, through which about 20% of the world’s oil passes. This comes after peace talks between the US and Iran collapsed over Tehran’s nuclear stockpile. The US had said that it will hunt down ships in international waters that have paid Iran a toll to pass through the strait.
The Peek Insight: Since the start of the war, India has often been seen as leaning closer to the US-Israel position than in previous West Asian crises. The deaths of three Indian sailors in a US attack have therefore raised uncomfortable questions about those partnerships. The issue has now entered domestic politics. AAP chief Arvind Kejriwal accused Prime Minister Narendra Modi of failing to protect India's sovereignty and citizens, questioning India's approach towards Washington after the attack. India's response has remained cautious. The government initially called attacks on commercial shipping "unacceptable", later focused on "de-escalation", and said that the attacks were "deeply worrisome" and "must end". However, experts say, there has been a continued reluctance to call out the US despite this being the third Indian-crewed vessel to come under attack during the conflict.
Ujjwala, Dimmed: When The Flame Of Welfare Burns Lower

Image Courtesy: Reuters
The Fact: The Centre has reduced the number of subsidised LPG cylinder refills available annually under the Pradhan Mantri Ujjwala Yojana (PMUY) from nine to four. The decision comes days after the price of a 14.2 kg domestic LPG cylinder was increased by ₹29, taking the retail price in Delhi to ₹942. PMUY beneficiaries, however, continue to receive a targeted subsidy of ₹300 per cylinder, allowing them to purchase the same cylinder at ₹642. The scheme currently covers over 10 crore economically weaker households across the country. Defending the decision, Petroleum Ministry officials stated that the revised cap reflects the average consumption pattern of PMUY beneficiaries - roughly four cylinders a year per household - and that domestic LPG consumers continue to receive cylinders at prices significantly below international market rates.
The Context: Launched in 2016 from Ballia in Uttar Pradesh, the Pradhan Mantri Ujjwala Yojana was envisioned as a flagship welfare programme aimed at replacing polluting cooking fuels such as firewood and coal with cleaner LPG connections among poor households. The scheme has undergone several modifications since its inception. During the Covid-19 pandemic, the government provided three free LPG refills under the scheme. From May 2022, beneficiaries received a subsidy of ₹200 per refill for up to twelve cylinders annually, which was later increased to ₹300 in October 2023. The latest move comes amid volatility in global energy markets amid tensions in West Asia and concerns over rising fuel costs.
The Peek Insight: The government's decision is significant not merely because subsidies have been curtailed, but because of the speed and scale of the reduction. Within less than a year, beneficiaries have seen their subsidised refill entitlement fall from twelve cylinders to four annually. If the earlier limits of twelve and subsequently nine refills were also determined on the basis of household consumption patterns, the latest justification raises legitimate questions about how the estimated requirement of beneficiary families has changed so dramatically in such a short period. While global fuel market pressures and geopolitical tensions provide a reasonable explanation for the government's need to rationalise expenditure, the burden of these adjustments ultimately falls on households for whom LPG affordability remains a challenge. Welfare schemes are intended to provide a degree of certainty and protection from economic shocks. Repeated revisions to benefits, especially within short intervals, risk creating precisely the uncertainty such programmes are meant to reduce. The larger concern is that the success of the Ujjwala scheme cannot be measured solely by the number of LPG connections distributed. Its effectiveness depends equally on whether beneficiaries can afford to continue using LPG as their primary cooking fuel. By reducing subsidised refills from twelve to four within ten months while simultaneously raising cylinder prices, the government has narrowed the extent of support available under one of its flagship welfare initiatives. The fiscal rationale may be understandable, but the explanation that the change merely reflects average consumption patterns appears insufficient to fully justify such a sharp reduction in assistance.
Aunt, Nephew And A Party In Peril
The Fact: Congress General Secretary KC Venugopal dismissed the speculations of a possible merger between the Congress and the TMC. The rumours arose amid a complete implosion of the TMC. The party is seeing an internal rift, causing their three Rajya Sabha MPs to resign, the latest being Prakash Chik Baraik. At the same time, one of Mamata Banerjee’s staunchest allies, Kalyan Banerjee, has now urged her to choose between her nephew Abhishek Banerjee and senior leaders like him. With all this unraveling, veteran MP Sougata Roy, in an interview with the Indian Express, has now suggested that Mamata Banerjee do something about her nephew’s ‘high-handedness’.
The Context: In the last few weeks, the TMC has been seeing several cracks in the party ranks. Around 20 TMC MPs have written to Lok Sabha Speaker Om Birla expressing their desire to join the NDA. On the other hand, within the party, a dissident faction has emerged in the state as well. Several party members supported Ritbrata Banerjee to be the Leader of Opposition in the Assembly, despite Mamata and her close aides backing another name. In the end, the speaker, who is a BJP MLA, accepted the dissident faction's request. This faction has also alleged that their signatures were forged. Several of its party members have been arrested and paraded publicly in the state. The recent case is that of Jahangir Khan, who was arrested near the Nepal border. And in another development, the CID searched Mamata Banerjee's and Abhisheek Banerjee's home in Kalighat.
The Peek Insight: For the TMC, everything appears to be unravelling at once. This is a party that Mamata Banerjee spent decades building from the ground up. A party whose workers were often held up as examples of unwavering loyalty. Today, some of those very leaders are walking away. And the one name increasingly linked to this discontent is Abhishek Banerjee. Dissenting leaders have accused the TMC General Secretary of undermining internal democracy and concentrating power within a narrow circle. According to an Indian Express report, several senior leaders believe that Abhishek's political strategy has alienated veteran party figures who were once central to the organisation's success. If Mamata continues to ignore the growing unease within the party, the TMC risks seeing these cracks widen further. As long as she remained the undisputed centre of power, such tensions were manageable. The electoral setback, however has altered that equation.
From Feed To Feet: The Cockroach Caravan Wants To Go National
The Fact: The Cockroach Janata Party held its second protest in Pune. The protest, which saw more than a thousand people according to the CJP, was conducted at the Savitribai Phule Pune University. Meanwhile, the CJP has filed a complaint against "anti-national elements" planted at its protest on 6th June at Delhi’s Jantar Mantar. In a viral video, a boy is seen making provocative, anti-India statements. The boy, Mayank Bhandari, was sent by right-wing commentator Abhijit Iyer Mitra. Mitra acknowledged this in a post on X. The CJP has now lodged a police complaint.
The Context: The CJP's protest in Pune comes after what supporters describe as a successful mobilisation at Delhi's Jantar Mantar. The Delhi gathering reportedly drew over a thousand participants, including teachers, students, parents, and individuals who believe they have been affected by shortcomings in the education system. Environmental activist Sonam Wangchuk was among those who attended the Delhi protest and was also present at the Pune demonstration on Thursday. Despite the visible support, critics argue that the turnout at Jantar Mantar was underwhelming when compared to the massive online following enjoyed by the satirical page behind the movement. The platform currently boasts around 22 million followers on Instagram. Critics have also questioned the limited representation of women within the party and pointed to controversial remarks made by one of its spokespersons, Vijeta Dahiya.
The Peek Insight: What began as outrage on a satirical social media page has now spilled onto the streets. From Delhi to Pune, the protests have steadily expanded, and the CJP has announced a nationwide schedule of demonstrations. According to the campaign's calendar, protests are planned in Lucknow, Amritsar, Hyderabad, Bengaluru, and Jaipur, before culminating once again at Delhi's Jantar Mantar on June 20. Yet, despite the growing footprint of the movement, the government's response has been notably absent. No senior leader from the ruling establishment has publicly addressed the issue so far. However, as the protests spread across more cities, that silence may become increasingly difficult to maintain. At the same time, questions remain about the scale and sustainability of the movement. Most demonstrations have been relatively brief, often lasting only one or two hours. Even the widely publicised protest at Jantar Mantar concluded before its scheduled end time of 5 PM. Historically, governments tend to respond when a movement begins to significantly shape public discourse or exert sustained pressure.
And finally,
Indian news needs a new mainstream
We’ve all seen it enough: TV debates chasing noise, newspapers weighed down with complexity, and social media flooded with misinformation. But none of that means you should be left confused, misled, or disconnected from the truth.
Join us in building a space where clarity cuts through chaos, and the truth comes above all numbers!






