Ride-hailing giant Ola Cabs is preparing for an initial public offering (IPO) aiming to raise around ₹4,000 crore with a company valuation of approximately ₹40,000 crore, Reuters reported on Friday. Ola is founded by Bhavish Aggarwal, a prominent figure in India’s startup landscape. Backed by SoftBank, Ola intends to submit IPO approval papers to market…
It is likely that you’re in the midst of the ultimate juggling act, with a decision yet to be made. That is, which artificial intelligence (AI) chatbot or assistant to begin using, more regularly. A conundrum many are struggling with. If the present choices of OpenAI’s ChatGPT, Microsoft’s Copilot, Google Gemini and Perplexity AI’s curation…
The Carl Pei-led Nothing company has just launched two audio products in a crowded Indian markets. Dubbed as Nothing Ear and Nothing Ear (a), while one is a premium offering with all the bells and whistles that go along with it, the other is a more affordable version with features that will still draw eyeballs….
World’s best airports: In the recent years, the world’s best airport crown has either been taken by Doha’s Hamad International or Singapore Changi. This time 12-time winner Singapore lost the spot to Doha in the Skytrax World Airport Awards 2024 while Seoul Incheon bagged third place. Seoul Incheon was also named 2024’s most family friendly…
Toshiba Corp. is reportedly planning to reduce its workforce in Japan by 5,000 employees, amounting to approximately 10 per cent of its total headcount, according to a report by Nikkei. This move signals a departure from Japan’s historical aversion to layoffs, reflecting the growing acceptance amid persistent labour shortages in the country. Toshiba(Reuters) If implemented,…
By Yoshita Singh Indian economy projected to grow 6.5 per cent in 2024: UNCTAD United Nations, India’s economy is projected to grow by 6.5 per cent in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive…
Zee Entertainment Enterprises Ltd (ZEEL) has withdrawn its application for merger with Sony from the National Company Law Tribunal (NCLT), the company said in a statement. Zee Entertainment and SONY logos are displayed in this illustration.(Reuters) In a statement on Tuesday, ZEEL said the steps taken by it to withdraw the implementation application from NCLT…
Meta Platforms Inc. said it will shut down its Threads platform in Turkey in two weeks to comply with an order from local authorities concerned about data sharing. A Meta logo is seen. Threads will be unavailable from April 29. Meta described it as a temporary suspension.(Reuters) The Turkish Competition Authority said last month that…
Ram Navami bank holiday: Banks across many states will be closed on Ram Navami (April 17). The bank holiday may vary as per specific states and is determined by the state governments and the Reserve Bank of India (RBI). The central bank publishes its list of bank holidays on RBI’s official website at https://www.rbi.org.in/. These…
Tesla has reportedly signed a strategic deal with Tata Electronics for the procurement of semiconductor chips for its global operations. The Economic Times reported, citing officials in the know saying that details of the deal- its value and terms, remain undisclosed. The report suggested that the move could be a part of Tesla’s strategy to…
Apple iPhone 16 series launch is still months away, but the pace of leaks is unrelenting, suggesting what Apple may actually pack in its standout smartphones. The latest iPhone 16 leak is all about new colors and the suggestion is for iPhone 16 Plus. It is being suggested that the iPhone 16 Plus will come…
The Narendra Modi government has now asked all the e-commerce websites to remove drinks and beverages from the ‘healthy drinks’ category, resulting in a big setback for Bournvita and other leading brands. According to a Moneycontrol report, The order by the ministry of commerce and industry has been issued at a time when the National…
The Income Tax Department will kickstart a drive against the individuals and entities who are required to file their income tax returns (ITR) but have not done. The I-T department has identified 1.52 crore such individuals who have the income or have had tax deducted at source (TDS) but did not file their returns, Economic…
If you are planning to visit the bank on Saturday, you need to postpone it as the banks will be closed today. Since April 13, 2024 happens to be a second Saturday of this month, the bank operations will be closed. If you want to carry out banking transactions online, it is possible. But any…
Large American banks reported solid earnings Friday behind still-high interest rates while offering varying views on the likelihood the United States can avoid a near-term recession. HT Image JPMorgan Chase reported higher profits, citing increased asset management and investment banking fees as well as the lift from lofty interest rates, while Citigroup and Wells Fargo…
Elon Musk’s AI startup X.AI Corp. is seeking to raise $3 billion to $4 billion in a deal that would value the company at $18 billion, as per materials sent to investors, Bloomberg reported. The roughly 20-page pitch deck has been circulated among Silicon Valley’s venture investing community, the report added. Tesla, X (formerly known…
The Federal Reserve’s preferred inflation gauge is set to come in softer than another report this week on consumer prices that rocked financial markets. HT Image The so-called core personal consumption expenditures price index, excluding food and energy, probably advanced 0.2% or 0.3% in March, several analysts said Thursday after the Bureau of Labor Statistics…
McKinsey layoffs: Global consulting firm McKinsey & Co. announced plans to eliminate almost 360 jobs globally. This will affect around 3 per cent of its specialist and technically-skilled workforce and will impact employees across various divisions, including design, data engineering, cloud, and software, Bloomberg reported citing people in the know. McKinsey layoffs: A logo of…
Gold is everybody’s favourite, especially when global political and economic situations look tense and things may be in for a change. While there are no real dark clouds over the horizon, the common investor would be looking at what next is possible or if there is something that he or she does not know about….
Luxury Yacht Charter in the Greek Islands The best way to enjoy Greece is by yacht, with a skipper taking care of all the technical aspects of sailing so you can relax and enjoy. Our boats come fully equipped and with all the essentials you need for a comfortable voyage. You can choose a skippered…
FASTag: The National Highways Authority of India (NHAI) enforced the ‘One Vehicle, One FASTag’ rule from April 1 following which the use of a single FASTag for multiple vehicles cannot be done. NHAI had earlier extended the compliance deadline to the end of March to accommodate Paytm FASTag users as well. Through this rule, misuse…
The European Union ramped up pressure on Chinese clean-tech investments potentially squeezing out its local suppliers amid EU efforts to transform the bloc into a green economy. HT Image The EU’s competition chief Margrethe Vestager announced an early-stage probe of Chinese involvement in wind parks in Spain, Greece, France, Romania and Bulgaria, in a speech…
Tesla has settled with the family of an engineer killed when his Model X crashed in Silicon Valley six years ago, avoiding a trial, according to court filings Monday. A Tesla car is seen in Santa Monica, California, United States.(Reuters) A jury trial was to start next week in a wrongful death suit that accused…
A shocking cybercrime has allegedly cost a teenager his life after he unwittingly lost money belonging to his father while playing with his mother’s phone, bringing to light yet another shocking cybercrime that instantly turned from being innocuous to a tragedy. It has been revealed that a teenager from Nalasopara, Mumbai died after falling victim…
Tata Group has announced the launch of three mutual fund schemes this week which will open for subscription for the new fund offer. As per ACE MF data, three index funds and a thematic fund will open for subscription this week. These include Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund and Tata…
For stock market investors, the upcoming week is set to be quite interesting. The interest will stem from Bharti Hexacom IPO. Apart from the fact that it is a unit of one of the biggest telecom companies in India, Bharti Airtel, the spotlight on Bharti Hexacom IPO is also there simply because it is the…
The board of debt-ridden Vodafone Idea (VI) has approved a proposal to raise ₹2075 crore from promoter Aditya Birla Group, the telecom operator informed in a regulatory filing on Saturday. Vodafone Idea board has approved issuance of up to 1,395,427,034 equity shares to Oriana Investments, an entity of the Aditya Birla Group (Representational Image) “The…
Wipro announced on Saturday the resignation of its Chief Executive Officer (CEO) and managing director (MD) Thierry Delaporte. Srinivas Pallia was announced as the new CEO of Wipro after Thierry Delaporte resigned.(Wipro) Srinivas Pallia (Srini Pallia), a current company executive board member, will assume the role effective Sunday. Wipro Limited, an Indian multinational corporation specialising…
IT services firm Cognizant will roll out salary hikes to “eligible” employees from August 1, with this being a delay of four months as compared to the previous April 2023 cycle, according to a Moneycontrol report. The Cognizant logo is seen at the SIBOS banking and financial conference in Toronto, Ontario. (REUTERS) “We are committed…
Private sector lender Bandhan Bank on Friday said its founder, managing director and CEO Chandra Shekhar Ghosh has tendered his resignation. Bandhan Bank MD and CEO Chandra Shekhar Ghosh speaks during a press meet.(PTI) Ghosh would retire from the services of the bank as MD and CEO upon completion of his current tenure on July…
The cost of a vegetarian thali became expensice in March owing to rise in onion, potato and tomato prices, an arm of domestic rating agency Crisil said. The price rose by 7 per cent in March while a cool down in poultry prices led to a 7 per cent decline in non-vegetarian thali. The cost…
Salary hike in senior-level job roles is expected to reach an average of 20 per cent this year, as nurturing talent and fostering innovation remains a key focus area for companies amid the country’s buoyant economic conditions, says a report. Additionally, there’s a notable surge in the need for professionals skilled in data analytics, generative…
Gold broke above $2,300 for the first time Thursday as it continued to surge on the back of expectations that US interest rates will come down this year and high geopolitical tensions. Gold prices: Gold’s popularity as a safe haven in times of turmoil has also provided plenty of support, with traders fretting over the…
The new fiscal has started and the old quarter’s results (quarter ended March 2024) will start rolling out soon. Among the first to do so are the big tech companies like TCS, Infosys and HCL Technologies among others. So, if you are a keen market-watching investor who likes to keep a sharp eye out on…
Major freight railroads will have to maintain two-person crews on most routes under a new federal rule that was finalized Tuesday in a milestone in organized labor’s long fight to preserve the practice. HT Image The Transportation Department’s Federal Railroad Administration released the details of the rule that was first proposed during former President Barack…
If you have applied for Blue Pebble IPO and are anxious to know what your status is, or are simply a curious market watcher, then you can easily check your status. Blue Pebble IPO allotment status is now available and all you need to do is go to the registrar’s website. In fact just a…
OpenAI will now allow users to access its free-to-use ChatGPT generative AI chatbot without needing to sign up for the service, the Microsoft-backed startup said. ChatGPT can mimic human conversation and perform tasks such as creating summaries, writing poems and even generate ideas for a theme party. OpenAI said that it will gradually roll out…
Sebi chief Madhabi Puri Buch said that when she was a student at the Indian Institute of Management, Ahmedabad she felt like locked in a pressure cooker. Chairperson of Sebi shared this at the 59th Annual Convocation of the institute on March 30 while recalling how her student life was full of pressure, panic, self-doubt…
US aviation giant Boeing is going through a challenging time. After a series of security related issues on Boeing aircraft, the company witnessed a large fall in its stock price and its CEO Dave Calhoun said he would step down by the end of the year. What exactly is the nature of problems facing Boeing?…
The Reserve Bank is contemplating the establishment of a Digital India Trust Agency (DIGITA) to address the proliferation of illegal lending apps, PTI reported. RBI mulls DIGITA to combat illegal lending apps.(PTI Photo) ALSO READ- Elon Musk’s X worth falls 73% since purchase, Fidelity valuation cut reveals Hindustan Times – your fastest source for breaking…
Tech layoffs March 2024: The technology industry saw layoffs in the month of March as major companies downsized their workforces amid challenges faced by the sector. Ericsson, Dell and Apple saw job cuts in March due to various factors. While Ericsson cut 1,200 jobs in Sweden amid declining demand for 5G equipment, Dell reduced its…
Bharti Hexacom, the arm of Bharti Airtel, will open its initial public offering (IPO) for subscription on April 3. The company has fixed a price band of ₹542-570 per share for its ₹4,275 crore IPO. According to a PTI report, the investors will be able to subscribe to the IPO till April 5. The bidding…
Zee layoffs: Zee Entertainment began cost cutting measures including laying off 50 per cent of its tech team at its innovation centre in Bengaluru. This comes as after the dissolution of the company’s potential merger with Sony. The company said in a press release, “Actioned by its MD & CEO, Punit Goenka, the steps are…
April 1 marks the beginning of a new financial year after which Union Budget proposals on income tax take into effect from this day. These changes were announced by Finance minister Nirmala Sitharaman in her Budget speech this year in February. Here’s a look at some of the changes in tax rules that will be…
Rival billionaires Mukesh Ambani and Gautam Adani have signed the pact for their first ever collaboration for a power project in Madhya Pradesh. Ambani’s firm Reliance has picked up 26 percent stake in Adani Power’s project in MP, signing a pact to use the plants’ 500 MW of electricity for captive use. Gautam Adani and…
China handed Elon Musk special privileges to set up a Tesla plant in the country, New York Times reported. This leaves him vulnerable to leverage from Beijing, the report added, citing former Tesla employees, diplomats, and policymakers who described Elon Musk’s relationship with China’s government. Tesla and SpaceX’s CEO Elon Musk looks on during an…
Diverted cargo and supply chain disruptions have left businesses rushing to avoid an economic hit following the collapse of a major bridge in Baltimore after it was hit by a cargo ship. HT Image With vessel traffic at the Port of Baltimore suspended until further notice since Tuesday’s accident, experts warn of knock-on effects but…
Pension Fund Regulatory and Development Authority (PFRDA) introduced a new security layer in the National Pension System (NPS). It will come into effect from April 1 and have a two-factor Aadhaar-based authentication system that is mandatory for all password-based users logging into the CRA system. PFRDA said, “To enhance the security measures in accessing the…
India’s current account deficit declined to USD 10.5 billion or 1.2 per cent of the GDP in October-December quarter from USD 11.4 billion in the previous three months and USD 16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday. Reserve Bank of India Net FDI inflow at USD 8.5 billion…
Zomato share price: Shares of Zomato Ltd hit an all-time high today (March 26) as the market resumed for the last trading week of FY24 after Holi. Zomato stock was up more than 1.35 per cent to ₹176.45 and commanded a total market capitalization of more than 1.55 lakh crore. This comes after e-commerce arm…
Dell Technologies said on Monday it cut its workforce as part of a broader initiative to reduce costs. As of February 2, 2024, Dell had nearly 120,000 employees The company took measures to reduce costs, including limiting external hiring and employee reorganizations, Dell said in a filing. Hindustan Times – your fastest source for breaking…
Boeing chief executive Dave Calhoun will step down at the end of the year, AP reported on Monday. He had taken over as the aircraft giant’s CEO following his predecessor Dennis Muilenburg’s ousted following twin crashes in late 2018 and 2019 in Indonesia and Ethiopia. In a letter to his employees, Calhoun had written,“As we…
New Delhi, IIFL Finance Ltd and JM Financial Products Ltd will undergo a special audit to further probe their regulatory breaches, as the Reserve Bank has initiated the process for the appointment of auditors. HT Image The Reserve Bank has floated two separate tenders for the appointment of auditors for special audits of these two…
The combined market valuation of five of the top 10 most valued firms plunged by ₹1,97,958.56 crore last week. IT giants Tata Consultancy Services (TCS) and Infosys bore the brunt of this downturn. TCS witnessed the highest decline in market valuation among the top 10 firms(Bloomberg) During the same period, the Bombay Stock Exchange (BSE)…
Amazon has said that it is tweaking its seller fee for several categories and products from April 7. It means that several items sold on the online platform will see an increase in prices, Moneycontrol reported. Every time an item is purchased on Amazon, the seller pays a free to the company, which includes charges…
New Delhi , : In its endeavour to meet the ambitious 500GW of non-fossil energy target, India needs some bold steps and an advanced BESS ecosystem with over 238 GWh of capacity. Experts at the 4th Edition of the International Conference on Stationary Energy Storage India 2024 emphasised on the rising penetration of renewables in…
Flipkart Group on Friday announced significant strides in its water conservation efforts by successfully recycling over 67 million litres of wastewater in a year across four of its facilities in Rewari and Sanpka (Haryana), Ludhiana (Punjab) and Malur (Karnataka). World Water Day: Flipkart is also prioritising the potential recharge of rainwater while fostering a strong…
The latest search data from Airbnb unveiled a dynamic shift in travel preferences among Indian travellers as we approach the festive Holi and Easter long weekend. South Goa has emerged as India’s top getaway spot, witnessing a staggering 330% increase in searches. However, it’s not just the beaches that are calling out to travellers. Domestic…
Did you receive a strange message on WhatsApp or a suspicious text from a stranger trying to strike a conversation or someone you do not know randomly showering you with compliments on Whatsapp? This is happening to some users and is part of the WhatsApp Honey Trap Scam- a new kind of online scam that…
New Delhi, All public sector banks in India showed a reduction in non-performing asset levels over the last six months while only 67 per cent of private sector banks reported a decline during the period, said a FICCI-IBA Bankers’ survey released on Thursday. HT Image The survey revealed that 77 per cent of the respondent…
A second US Senator has attacked Microsoft Corp.’s operations in China, adding to a wave of criticism from human rights groups following a Bloomberg Businessweek investigation about the way it censors its Bing search engine in the country. A Microsoft logo is seen on an office building in New York City, US. (REUTERS/ FILE) Senator…
Swiggy on Wednesday issued a clarification after a sarcastic post under the food delivery company’s name went viral on social media. Swiggy said the ‘fake ad’ was neither created by the company nor by anyone affiliated with it, urging people to refrain from circulating it. Users warned the new colour-coded system risked outing Zomato customers…
Zomato founder and CEO Deepinder Goyal on Tuesday issued a clarification amid backlash on social media over the food delivery company’s new ‘pure veg fleet’, saying the feature strictly serves a dietary preference. Zomato launched a “Pure Veg Mode” service to cater to customers who have pure vegetarian dietary preferences.(@deepigoyal / X) In a post…
Sam Altman said that OpenAI may not be the most ideal name for the artificial intelligence company. The CEO who cofounded the company along with Elon Musk and others in 2015 shared his view about the name of the company on Lex Fridman’s podcast. He said that when the company was just getting started, they…
Elon Musk said that his prescribed use of ketamine alleviates periods of low mood and is in the best interest of investors in Tesla Inc. and the other companies he runs. Elon Musk, the owner of X (formerly Twitter)(REUTERS) For Wall Street, “what matters is execution,” Musk said in an interview with former CNN anchor…
Alibaba Group Holding Ltd. appointed a new head of its grocery arm Freshippo in the latest step of a wide-ranging restructuring. The Alibaba Group logo is lit up at its office building in Beijing, China.(Reuters) Chief Financial Officer Yan Xiaolei will replace founder Hou Yi as chief executive officer of Freshippo, according to a person…
E-commerce platform Flipkart has been ordered by a consumer disputes redressal panel in Mumbai to pay a customer ₹10,000 for mental harassment suffered by him after the company cancelled his iPhone order. In its order, the District Consumer Disputes Redressal Commission said that the cancellation by Flipkart was ‘intentional’ to make extra profit and amounts…
An engineer at Amazon who finally landed a job at Google after two unsuccessful attempts, has valuable tips for young techies aiming to be placed at one of FAANG (Facebook, Amazon, Apple, Netflix and Alphabet) companies. Sahil Gaba had joined Amazon after graduating from college. He was contacted by a recruiter to interview him at…
Tata-owned Air India has laid off more than 180 non-flying employees in the recent weeks. It stated that the impacted staff were unable to utilise the voluntary retirement schemes (VRS) and re-skilling opportunities, PTI reported. An Air India spokesperson said that one per cent of the employee base who were unable to utilise the VRS…
Faced with a shortfall of renewable plastic for its colorful toy bricks, the man in charge of Lego A/S is engaging with producers of the raw material in a race to meet sustainability targets. HT Image Lego has started direct talks with manufacturers to convince them to invest in more production capacity and is buying…
NEW DELHI: India reported a robust 12% annualised growth in merchandise exports at $41.4 billion in the month of February despite global headwinds, narrowing contraction in the first 11 months of 2023-24 by 3.6% to $395 billion, a senior official said. In 2022-23, India’s merchandise exports crossed $451 billion while overall exports (goods and services…
Twitter layoffs: A former Twitter (renamed X) employee asked a US federal judge to order social media platform’s owner Elon Musk to sit for a seven-hour deposition and answer questions about his role in a mass layoff in the company. As per a letter by one laid-off employee, Elon Musk has “first-hand, non-redundant, knowledge of…
We now have both retail and wholesale inflation numbers for February. While the Consumer Price Index (CPI) grew at 5.1% in February, the Wholesale Price Index (WPI) rose by just 0.2%. To be sure, the CPI and WPI baskets are very different in composition, and the difference in the two inflation measures is better understood…
China has 12½ times more robots in its workforce than expected, an independent think tank in Washington Information Technology and Innovation Foundation (ITIF) said in a report. This indicates that Chinese workers are being replaced by robots at the fastest rate in the world, the report claimed, adding, “China does not yet appear to be…
Speaking at a research conference organised by Sebi and its education-focused capacity-building body NISM, Buch said the regulator will further reduce the minimum investment size of bets on real estate investments trusts and infrastructure investment trusts to ensure that common people are able to take bets on such assets. HT Image “We are all delighted…
Shark Tank India Season 3: When Pranjhal Sinha, Akshetha Maithri Ashik and Vikram Kumar introduced Shark Tank judges to their Online Dispute Resolution platform which is aimed at resolving legal issues online, they asked for ₹1 crore from Sharks (as the judges are called) in return for 1 per cent equity in their company. Shark…
Airbnb on Monday said it is banning security cameras inside guest homes so as to prioritize privacy. Airbnb on Monday said it is banning security cameras inside guest homes so as to prioritize privacy.(Reuters file photo) The home rental platform previously allowed indoor security cameras in common areas such as hallways and living rooms if…
Intel has survived an effort to halt hundreds of millions of dollars’ worth of chip sales to Huawei, two people familiar with the matter said, giving one of the world’s largest chipmakers more time to sell to the heavily sanctioned Chinese telecoms company. A view shows a Huawei logo at Huawei Technologies France headquarters in…
American billionaires are selling stocks and not in small numbers at all. So what has happened in the past few days? Apollo Global Management’s Leon Black enacted his first-ever sale after 34 years shedding $172.8 million in his equity firm. Walmart’s Walton family sold $1.5billion in a week. In final two months of 2023, Mark…
In one shot, Uttar Pradesh has become the only state in the country to have over 10 operational airports. On March 10, the prime minister inaugurated multiple airports and airport terminals across the country. This included Aligarh, Azamgarh, Chitrakoot, Moradabad, and Shravasti in Uttar Pradesh. A picture of the newly inaugurated Terminal-3 of Chaudhry Charan…
India signed a free trade agreement with a group of four European nations – Switzerland, Norway, Iceland and Liechtenstein – on Sunday, which will see a major investment of around $100 billion for New Delhi over the next 15 years. India signed the FTA with Europe’s four nation trade bloc on Sunday (AFP)(AFP) The free…
Gold prices are on the rise across the globe, with the yellow metal recently hitting its peak in India at ₹65,298 per 10 grams on the MCX. This indicated a significant spike of over ₹2,700 in just the first week of March 2024. Gold hits its peak in Delhi on Thursday, but the reason of…
With a bumper IPO and listing week coming up on Dalal Street, all eyes remain on KP Green Engineering, which is set to launch its initial public offering on March 15. In fact, the KP Green Engineering IPO is set to be the biggest SME public issue the Indian stock market has ever seen. KP…
The Indian stock market is expected to have a busy week coming as seven new initial public offerings (IPO) are set to be launched on Dalal Street next week. Out of these seven, two are mainboard IPOs while five are from the SME segment. Apart from this, eight stocks are set to make their stock…
Bitcoin rose to $70,000 for the first time, even as traders appear to be shifting their attention elsewhere for higher returns in fringe tokens known as memecoins. Bitcoin has touched its lifetime high of $70,000(HT_PRINT) Tokens such as Dogecoin and Pepe posted double-digit percentage gains on Friday morning, adding to the eye-popping rallies seen throughout…
By now, most news headlines have reported a bull run in cryptocurrencies led by Bitcoin and Ethereum. While Bitcoin is the king, its younger sibling Ethereum, is not far behind. Even as retail investors try to comprehend all this, high net worth individuals (HNIs) had already parked anywhere between 1-3% of their monies here. Bitcoin…
Tata Motors announced on Thursday that it would implement a price hike of up to 2 per cent on its commercial vehicles starting April 1 to compensate for lingering effects from previous input cost increases. Tata Motors to hike commercial vehicle prices by up to 2 pc from April. (REUTERS/Anushree Fadnavis/File Photo) How much will…
NEW DELHI: The government on Wednesday notified amendments in competition laws allowing the Competition Commission of India (CCI) to impose penalty on the global turnover of a company. FILE PHOTO: According to experts, the new rules will impact big tech companies having multiple business verticals. (REUTERS) Earlier, CCI could levy a penalty only on the…
The Directorate General of Civil Aviation (DGCA) on Wednesday granted the Air Operator’s Certificate (AOC) to new airline Fly91. Co-founded by erstwhile Kingfisher Airlines senior executive Manoj Chako, the venture ‘Just Udo Aviation Pvt Ltd’ received the civil aviation ministry’s nod to start the airline under the brand name FLY91 in April last year. On…
The Reserve Bank on Tuesday barred JM Financial Products Ltd from providing any form of financing against shares and debentures, including sanction and disbursal of loans against initial public offering, with immediate effect. A security official walks past an emblem of the Reserve Bank of India at the RBI headquarters, in Mumbai (PTI FILE) The…
Paytm founder Vijay Shekhar Sharma said that he was confident that his company will overcome regulatory setbacks in India this year and stage a comeback. At a financial technology conference in Tokyo, he said, “The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct.” This…
Frank Slootman, the outgoing chief executive officer (CEO) of US-based data cloud firm Snowflake, is wealthier than both Apple’s Tim Cook and Microsoft’s Satya Nadella, according to Bloomberg Billionaires Index. Outgoing Snowflake CEO Frank Slootman (Image courtesy: Bloomberg) As per the Bloomberg index, Slootman, who will be succeeded by Indian-American computer scientist Sridhar Ramaswamy as…
Bengaluru woman Nupur Dave quit Google in 2022 after having worked in the US for 11 years. As she wanted an early retirement, she quit when she was 40 and felt secure about her finances. At the time, she was earning about ₹82 lakh a year working in the San Francisco office. But just two…
Lawyers who successfully argued that Elon Musk’s $55.8 billion package as Tesla CEO was ‘illegal,’ have now asked the presiding judge to award them more than 29 million (2.9 crore) company shares worth $5.6 billion as ‘legal fees.’ Tesla CEO Elon Musk (Reuters file photo) The request was filed in a Delaware court on Friday,…
Flipkart has launched its own Unified Payments Interface (UPI) services in collaboration with Axis Bank. The facility is called Flipkart UPI, and, its launch comes at a time when e-commerce companies have been launching their own UPI handles to service their customers better, and to avoid redirection to third-party apps for payments. Representational Image “Flipkart…
Microsoft co-founder Bill Gates on Saturday visited The Statue of Unity in Gujarat. He hailed the 182 metres tall Sardar Vallabhbhai Patel statue, calling it an ‘engineering marvel’. “Thank you @narendramodi for the invitation to visit the impressive Statue of Unity. It is an engineering marvel and a great tribute to Sardar Patel. Also great…
As the reliance on artificial intelligence (AI) increases, Google has hit a major snafu due to its AI image generator Gemini. However, a report suggests that impact of the debacle may be faced by Google CEO Sundar Pichai, as the chorus grows for his replacement at the top post. Google CEO Sundar Pichai(Reuters file photo)…
Shares of Spirit AeroSystems surged Friday on news Boeing is in talks to potentially acquire the supplier as the aviation giant seeks to right itself amid its latest safety crisis. HT Image Spirit finished Friday’s session up more than 15 percent following a Wall Street Journal report that it hired bankers and was holding preliminary…
Zomato share price: Zomato share price continued its upward trend for the second consecutive session during Friday’s trade. At its peak, the stock surged by nearly 5 per cent, reaching a lifetime high of ₹173.50, compared to the previous day’s closing of ₹165.50. Zomato share price: Zomato stocks can be attributed to the company’s robust…
Cryptocurrency Bitcoin on Thursday surpassed $60,000 for the first time in more than two years. A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017.(Reuters) The jump comes amid surging optimism that demand for the token is widening beyond committed digital-asset enthusiasts, according to Bloomberg….
The ever-growing list of Indian-origin CEOs got a new entrant on Thursday, with Sridhar Ramaswamy being appointed as the chief executive officer of Snowflake, a US-based data cloud company. Ramaswamy, whose appointment is effective immediately, succeeds Frank Slootman, joining an illustrious list with members such as Satya Nadella (Microsoft) and Sundar Pichai (Google) among others….
Bitcoin jumped past $60,000 for the first time in more than two years, amid surging optimism that demand for the token is widening beyond committed digital-asset enthusiasts. A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017.(Reuters) The largest cryptocurrency has jumped more than 45%…
Benchmark Sensex tanked more than 1 per cent while Nifty declined below the 22,000 level on Wednesday pulled down by selling in heavyweight Reliance Industries and bank stocks amid weak global market trends. Representational Image) The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it…
NEW YORK (AP) — U.S. stocks held near their record levels on Tuesday after a quiet day of trading. HT Image The S&P 500 added 8.65 points, or 0.2%, to 5,078.18 and is just off its all-time high set last week. The Dow Jones Industrial Average dipped 96.82, or 0.2%, to 38,972.41, and the Nasdaq…
Sensex rises 305 points to settle at 73,095, Nifty in green at 22,198.
When it comes to safety culture at Boeing, there is a “disconnect” between senior management and workers, and employees responsible for checking the company’s planes question whether they can raise issues without fear of retaliation, according to a panel of outside experts. HT Image The aviation-industry and government experts also said safety training and procedures…
Sensex drops over 350 points to close at 72,790, Nifty at 22,122.
For Xiaomi, the flagship smartphone space in India has been one they’ve looked at from a distance for a while now. On the outside, looking in. It has been perplexing, because globally, Xiaomi’s arsenal had the tools that may have worked. But for various reasons, it never clicked for the tech company in India, one…
Billionaire Peter Thiel has extended his fellowship programme that offers $100,000 ( ₹82.88 lakh) to the students who are willing to skip their college and start a firm. Paypal founder Peter Thiel(Reuters) Some of the applicants are planning to launch projects in the field of artificial intelligence (AI) and cryptocurrency, Business Insider reported. Thiel had…
Charlie Munger, who died in November last year, was the ‘architect of the present Berkshire,’ said Warren Buffett as he remembered his business partner of 60 years who helped Buffett transform Berkshire Hathaway Inc. from a textile maker to the conglomerate that it is today. Warren Buffett, left, and Vice Chairman Charlie Munger, briefly chat…
Indian airline Go First has received two financial bids as part of its bankruptcy process, two bankers who attended a meeting of the airline’s creditors said on Saturday. Managing director of Spicejet Ajay Singh, along with Busy Bee Airways, jointly submitted a bid of 16 billion rupees ($193.10 million) for the airline. Another financial bid…
Warner Bros. Discovery Inc. shares hit their lowest level since the stock began trading in April of 2022, after the entertainment giant reported fourth-quarter revenue and profits that fell short of Wall Street forecasts amid declining TV advertising sales and weakness at its studios business. The Warner Bros (REUTERS) Sales, at $10.3 billion, fell 7%…
Closing Bell: Sensex ends flat, Nifty below 22,200; media stocks shine
The Reserve Bank of India’s (RBI’s) job to bring down inflation is not over, and any premature move on the policy front could undermine the success achieved so far on the price situation, according to RBI Governor Shaktikanta Das. RBI governor Shaktikanta Das. RBI’s rate setting panel, Monetary Policy Committee (MPC), had met for three…
Shark Tank India judge Anupam Mittal said that before becoming multi-millionaire founder-CEO of People Group and Shaadi.com, he grew up in a cramped 1000-square feet Mumbai flat. In a podcast, he said that his father worked in the textiles business but there was a time when the family struggled to make ends meet. Shark Tank…
Google CEO Sundar Pichai said that when he wakes up he likes to keep up to date with the technology space. No shocker there! But he has designed his morning routine in a way where the first thing he does is all about technology. Google CEO Sundar Pichai(Reuters) When he wakes up Sundar Pichai starts…
Google CEO Sundar Pichai talked about his tech habits in an interview saying that he uses more than 20 phones at once for different reasons. The CEO talked about technology, parenting as well as culture and the future of Artificial Intelligence. Google CEO Sundar Pichai Sundar Pichai’s 20 phones habit Explaining this weird habit, Sundar…
Zee Entertainment Enterprises Ltd (ZEEL) clarified on Tuesday that reports of renewed talks with Sony to revive the scrapped merger deal were incorrect. Zee Entertainment and SONY logos are displayed.(REUTERS) “We would like to clarify that the Company has not been involved in any negotiations or any other event,” said Zee Entertainment in a stock…
India will invite private firms to invest about $26 billion in its nuclear energy sector to increase the amount of electricity from sources that don’t produce carbon dioxide emissions, two government sources told Reuters. The government is in talks with at least five private firms,(Twitter) This is the first time New Delhi is pursuing private…
Ashok Vaswani, the newly-appointed managing director and chief executive of Kotak Mahindra Bank, on Monday announced some key leadership changes by elevating K V S Manian as joint managing director and Shanti Ekambaram as the deputy managing director. File photo of Kotak Mahindra Bank branch in Mumbai. “These key leadership changes will shape the future…
Byju’s, in the middle of the intense financial crisis and pressure from lenders, got a commitment of $300 million from its investors for the upcoming rights issue, which has slashed the valuation of parent company Think and Learn by over 90 per cent from its peak. Byju’s gets $300 million commitment from investors(REUTERS) Investors have…
Union minister Rajeev Chandrasekhar on Sunday said that the Reserve Bank of India’s action against Paytm Payments Bank has drawn the attention of fintech firms to the importance of complying with laws. The minister in an interview to news agency PTI said that the Paytm Payments Bank issue is a case involving a ‘hard-charging’ and…
India’s foreign exchange reserves declined by USD 5.240 billion to USD 617.230 billion in the week that ended on February 9, coming off a month high it hit the prior week, latest data released by the Reserve Bank of India showed. India’s forex saw a significant dip earlier this month (PTI) During the week that…
Goldman Sachs CEO David Solomon received $31 million in compensation for 2023, up 24% from $25 million in 2022, the company said. The pay includes- $2 million base salary which is unchanged from the previous year, a bonus of $8.7 million in cash and $20.3 million in performance-linked stock, the bank said in its filing….
The Indian stock market has shown an upward trend throughout the week, with BSE Sensex up 1.42 per cent over the last five trading sessions. It is expected that the coming week will see a higher spike in the markets due to the issue of four initial public offerings (IPO) and the listing of seven…
The Reserve Bank of India clarified that the widely used Paytm QR code and Soundbox by merchants will not be affected by its action on Paytm Payments Bank if they are linked to accounts with other banks, it said in a ‘Frequently Asked Questions’ document released on Friday. Paytm crisis: Cutlery vendor switches on Paytm,…
Amazon founder and former CEO Jeff Bezos unloaded another 12 million shares of the company, putting the total tally of shares unloaded by him to $6 billion. In the latest round of stock dump, Jeff Bezos unloaded Amazon shares worth $2 billion ( ₹16,604 crore). Amazon founder and former CEO Jeff Bezos (AP)(AP) Jeff Bezos…
The Samyukt Kisan Morcha (non-political), in coordination with the Central Trade Unions, has called for a nationwide ‘Grameen Bandh’. Farmers gather during a protest march to India’s capital New Delhi to demand minimum crop prices, near the Haryana-Punjab state border at Shambhu in Patiala district on February 15, 2024.(AFP) Pawan Khatana, a local leader of…
The Enforcement Directorate questioned senior Paytm officials and had got documents from them following the Reserve Bank of India (RBI) action against Paytm Payments Bank, officials told PTI. The central agency is conducting preliminary probe before deciding to formally launch an investigation into alleged irregularities under the Foreign Exchange Management Act (FEMA). ALSO READ: Paytm…
Ministers from the International Energy Agency’s member countries have begun talks with India on its application to become a full member of the Paris-based agency of 31 nations, IEA said on Wednesday. (From L) US climate envoy John Kerry, President of the European Commission Ursula von der Leyen, Executive director of the International Energy Agency…
The Enforcement Directorate on Wednesday initiated preliminary inquiry against Paytm Payments Bank, Reuters quoted a CNBC TV 18 report on Wednesday. The action comes days after the Reserve Bank of India (RBI) barred the Paytm subsidiary from accepting new deposits from February 29. The central agency’s move is a fresh setback to the Payments Back,…
A plea has been filed in the Supreme Court seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI. A painting of the Indian businessman Gautam Adani(AFP) In a significant win for…
The National Payments Corporation of India (NPCI) is an ‘advanced’ discussions with Indian and US banks to establish a real-time payment link between the two countries, Economic Times has reported (story behind paywall). NPCI was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India. It has created a…
Bitcoin hit the $50,000 level for the first time in more than two years as the world’s largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month’s regulatory nod for U.S. exchange-traded funds designed to track its price. The value of the bitcoins crossed $50,000 on Monday (REUTERS) The…
India’s Unified Payments Interface (UPI) services were on Monday introduced in Sri Lanka and Mauritius at a virtual event. The virtual ceremony was attended by Prime Minister Narendra Modi, Mauritian PM Pravind Jugnauth and Sri Lanka’s President Ranil Wickremesinghe. ALSO READ: Not just Sri Lanka, these countries have also accepted India’s UPI India’s Unified Payments…
China’s Xiaomi has told New Delhi that smartphone component suppliers are wary about setting up operations in India amid heavy scrutiny of Chinese companies by the government, according to a letter and a source with direct knowledge of the matter. Xiaomi India(REUTERS) Xiaomi, which has the biggest share in India’s smartphone market at 18%, also…
(Bloomberg Opinion) — A history student told me recently that he loves researching the 20th Century but can’t see the point of the Middle Ages. I responded that it can be a big help to understanding our own times — very troubled times — to view them in the context even of the remote past….
Elon Musk’s brain implant company Neuralink has moved its legal corporate home from Delaware to Nevada after a Delaware judge struck down Musk’s $55.8 billion pay package as CEO of Tesla. Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X,(REUTERS) Neuralink, which has its physical headquarters in Fremont, California, became a…
To control digital frauds, the government has blocked 1.4 lakh mobile numbers so far that were involved in financial frauds, according to an official release. Representational Image Financial Services Secretary Vivek Joshi on Friday chaired a meeting on cyber security in the financial services sector in which various issues including onboarding of banks and financial…
While majority of the top indices of the world are expected to hit a new high this year, JP Morgan’s equity strategists have cautioned that the stock market’s rise could be short-lived, and the markets can see a significant dip this year. Stock market may see a dip this year (AP Photo/Ahn Young-joon) According to…
Initiating the debate on the ‘White Paper on Indian Economy and its impact on the lives of people of India,’ Sitharaman said the Common Wealth Games (CWG), held during the UPA regime, brought “bad name” to the country, but India’s G20 presidency under the Narendra Modi government earned India global respect. Union Finance Minister Nirmala…
Sebi on Thursday barred 10 entities, including guests experts, appearing on a business news channel from the securities market and directed seizure of unlawful gains of ₹7.41 crore made by them through alleged stock manipulation. Sebi (REUTERS) In its probe, the markets regulator found that few guest experts shared advance information pertaining to recommendations to…
The Reserve Bank of India on Thursday said the action against Paytm was taken due to the fintech firm’s ‘persisted non-compliance’. Vijay Shekhar Sharma, founder and chairman of One97 Communications Ltd., operator of Paytm.(Bloomberg) “We give sufficient time to every entity to comply and sometimes more than sufficient time to the entities for compliance. If…
The Reserve Bank of India governor Shaktikanta Das will announce the bi-monthly policy on Thursday, with experts anticipating a status quo on the key interest rate due to inflation hovering close to the upper tolerance level of 6 per cent. A security official walks past an emblem of the Reserve Bank of India at the…
Paytm founder and chief executive officer Vijay Shekhar Sharma on Tuesday had met finance minister Nirmala Sitharaman in wake of the Reserve Bank of India (RBI) actions against his Paytm Payments Bank. During the meeting, Sitharaman had made it clear to Sharma that it was a regulatory issue and the government cannot help the company…
Many retail investors, mutual fund schemes and foreign institutional investors (FIIs) did not see the Paytm catastrophe hitting them. So they did what they thought was right: raised their stake in the stock in the December quarter. But in just three days as the Paytm stock fell 42%, 11 lakh retail shareholders, 514 FIIs and…
There has been a lot of learning in the entire transition seen from internet age to AI age as far as the overall landscape of digital media is concerned, HT Media’s CEO Puneet Jain said at the DNPA Conclave & Awards 2024. DNPA Conclave 2024: HT Media’s CEO Puneet Jain. “Digital media consumption has increased…
Fintech company Paytm on Monday dismissed the reports of the Enforcement Directorate investigating the firm or its founder for money laundering or FEMA violations as “misleading, baseless and malicious”. Paytm founder and CEO Vijay Shekhar Sharma during an event in Mumbai, (PTI)(PTI) Paytm said that the financial crime-fighting agency has not launched any probe against…
Bill Gates-backed mining start-up- KoBold Metals- which uses Artifical Intelligence (AI) to explore for materials essential to the green-energy transition, said that it has discovered a huge copper deposit in Zambia. KoBold president Josh Goldman said that Mingomba is shaping up to be “extraordinary” as he compared its potential to that of Kakula mine- developed…
Employment portal Indeed has released a list of the best jobs of 2024 with roles such as loan officer and mental-health technician ranking making the cut. The job site created the list by considering positions with a base salary of at least $75,000 ( ₹62 lakh), where at least 10% of job postings mentioned remote…
Union finance minister Nirmala Sitharaman assured that fears about artificial intelligence causing unemployment are alleviated, saying that AI technology also relies on human intervention. FM Nirmala Sitharaman during the Post Budget Press Conference at National Media Centre, in New Delhi, India, on Thursday, February 1, 2024. (Photo by Raj K Raj/ Hindustan Times)(Hindustan Times) FM…
India’s central bank has found hundreds of thousands of accounts at Paytm Payments Bank created without proper identification and has passed the information on to the country’s financial crime fighting agency, three sources familiar with the matter said. The interface of payments app Paytm (REUTERS) The Reserve Bank of India (RBI) is concerned that some…
Ed-tech company Byju’s has been grappling with a financial crisis, and in their latest move, the shareholders of the company have moved a resolution seeking the ouster of the founders from top leadership roles, including CEO Byju Raveendran. Byju’s continued to grapple with intense financial crisis.(Bloomberg) The investors and CEO continue to be at a…
India’s banking regulator is considering canceling the operating license of Paytm Payments Bank as early as next month once depositors are safeguarded, according to people with knowledge of the matter. Paytm’s banking business powers most features of India’s most popular digital payments app, which competes with the likes of Walmart’s PhonePe and Google(Bloomberg) The Reserve…
Travel trends for 2024: 2024 travelers are set to look away from popular destinations like London and Paris as they are more interested in visiting major cities in Asia. Tripadvisor announced its Travelers’ Choice Best of the Best Destination Awards, ranking the world’s top trending destinations for 2024. The list is based on the quality…
As many as six shareholders of Byju’s parent company Think and Learn Private Limited have now moved a resolution to oust the founders from having control over the ed-tech firm in the midst of the financial crisis, reported PTI citing sources. Byju Raveendran of Think and Learn Pvt. Ltd that runs edutech start-up Byju’s.(Livemint) In…
Finance minister Nirmala Sitharaman in her interim budget speech on Thursday announced that the capital expenditure for financial year 2024-25 has been raised by 11 per cent to ₹11.11 lakh crore, or 3.4 per cent of GDP. Union Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 in the Lok Sabha, at Parliament House in…
Union finance minister Nirmala Sitharaman on Thursday will present the Interim Budget before India heads to the Lok Sabha 2024 elections. It will be the last budget in the second term of Prime Minister Narendra Modi as he seeks re-election in the months from now. It will be the interim budget and not a regular…
Thin Is a Commercial Roof When you’re thinking about replacing your commercial flat roof or installing a new one on a future structure, the thickness of the roofing materials is an important consideration. Thicker materials are typically stronger, but they also tend to be more expensive. Whether or not the added expense is worth it…
India’s markets regulator is looking at whether local mutual fund schemes investing in small and mid-cap stocks would be able to withstand sharp falls in stock prices or sudden outflows, according to two sources with direct knowledge of the matter. SEBI Bhavan at BKC Bandra, in Mumbai.( (Photo by Vijay Bate/HT Photo)) Such funds have…
Making a last-ditch attempt to make the deal a reality, the shareholders of Zee Entertainment Enterprises Limited (ZEEL) have filed another petition in the National Company Law Tribunal (NCLT), seeking the enforcement of the now-cancelled merger with Sony Group. Sony called off its merger with ZEEL last week (Reuters) The petition was filed before a…
The hearing for an emergency arbitration in the Zee-Sony merger will take place at the Singapore International Arbitration Centre (SIAC) tomorrow, it was reported after the deal was called off last week. Sony Group Corp, the Japanese parent company of Sony Picture Network India (SPNI) and Bangla Entertainment Pvt Ltd (BEPL) announced the termination of…
Elon Musk’s satellite network Starlink has been hoping to enter the Indian market in 2024, but it might be facing some delays in getting a license in the country due to the problems the Indian government faced during the Verizon case, reported The Economic Times. Elon Musk’s Starlink is facing a delay in getting its…
Prime Minister Narendra Modi will likely use India’s last budget before the elections to woo voters with new spending measures, while avoiding a fiscal deficit increase. Interim Budget 2024: Union finance minister Nirmala Sitharaman The economy’s rapid expansion has led to a tax windfall for the government, helping it meet its goals of curbing the…
Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies. Reddit app is seen…
Bernard Arnault, the founder, chairman and CEO of global luxury goods brand LVMH (Louis Vitton) has overtaken Elon Musk as the wealthiest person in the world, according to Forbes. Bernard Arnault (left) and Elon Musk (File Photo) As per the magazine, the Arnault family’s net worth soared to $207.8 billion on Friday, rising by $23.6…
The world’s largest cruise ship, Icon of the Seas by Royal Caribbean, is embarking on its first journey from the Port of Miami on Sunday. ‘Icon of the Seas’- the world’s largest cruise ship- measures nearly 365 meters from bow to stern.(Royal Caribbean) Spanning nearly 365 meters from bow to stern, the ship will embark…
VMPL HT Image New Delhi [India], January 27: The Kala Ghoda Arts Festival’s Antiquity Natural Mineral Water and The Plated Project presents a sneak peek into a world of discovery through the platform of Antiquity Discoveries at The Blue Box pop up venue at Yashwantrao Chavan Centre, Mumbai. The panel that started this move featured…
Naveen Jindal-led Jindal Power has decided to drop out of the bidding race to acquire distressed thermal power company Lanco Amarkantak Power, leaving Adani Power and Reliance in the acquisition bid, reported Economic Times. Jindal dropped out of the bidding war for Lanco Amarkantak Power. Previously, Jindal Power bid more than Adani Power to acquire…
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are closed on Friday in observance of Republic Day, with normal trading activities set to resume on Monday. Republic Day 2024: Sensex holiday today.(Bloomberg) This year marks India’s 75th Republic Day, commemorating the adoption of the constitution on January 26, 1950, and the attainment of…
After reporting muted profits across their quarterly reports, Tech Mahindra shares took a deep plunge on the stock markets on Thursday, falling nearly six percent when the markets closed. At 3:30 pm today, Tech Mahindra shares were at ₹1,325. Tech Mahindra reported muted profits is Q3 results(Reuters) Posting its earnings in the Q3 results, Tech…
Budget 2024 LIVE updates: In exactly a week from Thursday, Union finance minister Nirmala Sitharaman will present the budget for FY 2024-25, with this being the final annual financial statement of the Narendra Modi government’s second term. Accordingly, the traditional pre-budget ‘halwa’ ceremony was held on Wednesday, and officials involved in the preparation of budget…
US-based Forbes Global Properties on January 25 announced its foray into the Indian real estate market to offer brokerage services for luxury homes. It is also planning to develop two projects covering 10 million square feet in Mumbai and Delhi in association with landowners. It is also exploring opportunities to develop a residential project in…
Germany-based software major SAP SE has unveiled a 2 billion euro ($2.17 billion) company-wide transformation programme, including restructuring, for 2024, with the aim being to improve its focus on growth in artificial intelligence (AI)-related areas. The headquarters of German software maker SAP is seen, Nov. 5, 2003, in Walldorf near Heidelberg, Germany. (AP Photo/Michael Probst,…
Troubles continue to mount for Zee Entertainment Enterprises Limited (ZEEL) after the cancellation of its merger with Sony’s India unit, after a probe by Securities Exchange Board of India (Sebi) has revealed that around ₹1000 crore have been siphoned from the deal, as opposed to the earlier figure of ₹200 crore, reported CNBC TV18. Sony…
Sensex jumps 580 points to breach 72,000-mark; Nifty nears 21,740.
The consecration ceremony of the Ayodhya Ram Mandir took place today, January 22, with Prime Minister Narendra Modi heading the rituals in the newly-constructed temple. Some of the country’s top businessman were also invited to the ceremony on Monday. Many top businessmen were invited to the consecration ceremony in Ram Mandir. (PTI)(PTI) Mukesh Ambani and…
Gautam Adani, the chairman of the Adani Group, on Monday morning said the Ram Temple in Ayodhya will be a gateway to enlightenment and peace. Gautam Adani(Bloomberg) “On this auspicious day, as the Ayodhya Mandir’s doors open, let it be a gateway to enlightenment and peace, binding the communities with the timeless threads of Bharat’s…
Sridhar Vembu, the chief executive of the Indian software firm Zoho, was among the state guests who arrived in Ayodhya a day before the planned ‘pran pratishta’ ceremony. Sridhar Vembu is invited as a state guest to Ram temple consecration ceremony.(X/Sridhar Vembu) “In Ayodhya with my amma Janaki and my brother Kumar and his wife…
Sanjay Shah, the CEO of Vistex, a US-based software firm, died, while another official suffered severe injuries during the company’s silver jubilee celebrations at Ramoji Film City in Hyderabad on Thursday. Sanjay Shah, the CEO of Vistex, died in a tragic lift fall accident.(X) A video, which has gone viral on social media, purportedly shows…
Microsoft co-founder Bill Gates has said he wants ultra-rich to pay more taxes, this a year after his remark during his ‘Ask Me Anything’ forum on Reddit wherein he expressed surprise that the taxes for the rich had not been increased more. At the World Economic Forum in Davos, Gates said that the wealthiest countries…
New Delhi [India], January 20 (ANI): In celebration of its silver jubilee year, Central Depository Services (India) Limited (CDSL), Asia’s first listed depository, announced the launch of two unique multi-lingual initiatives to signify its commitment to inclusivity and accessibility in the capital market landscape. HT Image These initiatives were launched by SEBI Chairperson Madhabi Puri…
Reliance Retail Venture Ltd (RRVL) on Friday reported a 31.87 per cent rise in its net profit to ₹3,165 crore for the third quarter ended in December 2023. Reliance Retail, a unit of Indian oil-to-chemicals conglomerate Reliance Industries. Its revenue from operations surged 23.75 per cent to ₹74,373 crore in the December quarter of FY24,…
Tata Group-owned Air India on Thursday announced that it will launch a massive 600,000 sq ft integrated aviation training academy in Haryana’s Gurugram, making this the biggest of its kind in south Asia. Tata to set up South Asia’s largest aviation academy (Twitter/Air India) Air India, in a social media post, said more than 50,000…
Tata Communications on Thursday reported its fastest quarterly growth in nine years. The revenue grew by 24.4 per cent, surpassing the ₹5,000 crore milestone in the third quarter that ended on December 31. The company reported a quarterly revenue of ₹5,633 crore in the quarter, backed by strong performance in data revenue. The year-on-year EBITDA…
Much before Samsung’s latest Galaxy S24 flagships, a series of events were already in motion towards the pursuit of artificial intelligence (AI) smartphones. It really isn’t as simple as preloading the ChatGPT app. Well, that could be a way. But phone makers know the need for a compelling proposition for consumers, if they’re expected to…
The Bombay Stock Exchange (BSE) benchmark Sensex’s 1,628 point crash on Wednesday wiped out ₹4.59 lakh crore from investors’ wealth, PTI reported. It was the biggest single-day plunge for both the Sensex and NSE index Nifty in 19 months. While the Sensex tanked by 1,628 points to end the day at 71,500.76, Nifty nosedived 460.35…
Bloomberg | | Posted by Singh Rahul Sunilkumar US industries that are more adaptable to remote work haven’t seen a bigger boost — or decline — in productivity growth since 2020 compared to industries with more in-person work, according to new research from the Federal Reserve Bank of San Francisco. Since Covid-19, Work from Home…
Private sector lender HDFC Bank on Tuesday reported a massive 34% jump in its standalone net profit. According to an exchange notification, HDFC Bank’s standalone net profit jumped to ₹16,373 crore for the third quarter ended December 2023. The headquarters of India’s HDFC Bank is pictured in Mumbai.(Reuters) The bank had earned a net profit…
Mumbai (Maharashtra) [India], January 16 (ANI): Coca-Cola India and Reliance Retail have collaborated on a groundbreaking sustainability initiative, ‘Bhool Na Jana, Plastic Bottle Lautana,’ which focuses on used PET bottle collection and recycling through Reverse Vending Machines (RVMs) and collection bins. HT Image According to a press release, the pilot project, in line with the…
IndiGo had a rough day on Sunday. The airline recorded an On Time Performance of just 21%. The last few days have seen exceptional fog at Delhi, leading to flight delays and in multiple cases waiting for a bay post landing. The day ended with one passenger hitting the captain of the flight, only to…
In an overhaul of the Employees’ Provident Fund Organisation, the government has reconstructed its Central Board of Trustees following the conclusion of its five-year term. Three of the 10 employee representatives in EPFO belong to the Rashtriya Swayamsevak Sangh (RSS)-affiliated Bharatiya Mazdoor Sangh.There is one member each from Hind Mazdoor Sabha, the Communist Party of…
Apple is shutting a 121-person, San Diego-based unit that undertakes artificial intelligence (AI)-related operations, with the development likely to leave several team members unemployed. Apple Inc. logo (REUTERS) The group, known as Data Operations Annotations, was informed on Wednesday about the company’s decision; members have been asked to relocate to Austin, Texas, and merge with…
Apple chief executive officer Tim Cook earned $63.21 million dollars as compensation in 2023, less than what he got in 2022, the iPhone maker stated in its proxy filing with the US Securities Exchange Commission. In its proxy filing, Apple said that Cook earned $3 million (nearly ₹25 crore) as a salary in 2023. It…
Fashion designer Vratika Gupta, the founder of luxury home decor company Maison SIA has bought a penthouse in Mumbai’s ‘Three Sixty West’ skyscraper for over ₹ 116.42 crore. She paid ₹5.82 crore in stamp duty. Fashion designer Vratika Gupta(Maison SIA website) According to IndexTap.com, a real estate data analytics firm, it is the first residential…
Garland Decoration to Add a Festive Touch to Your Decor A garland decoration is a festive way to add a little holiday cheer to your space. The best part is, they are one of the simplest decorating tools at your disposal. Whether you use it to dress a mantel or elevate an everyday piece of…
Citigroup said it would cut 20,000 jobs over the next two years, acknowledging a “clearly disappointing” quarter marred by one-off charges that resulted in a $1.8 billion loss. Citigroup will be cutting 20,000 jobs over the next two years after reporting a $1.8 billion loss for the fourth quarter of last year.(Getty Images via AFP)…
Hundreds of Indian workers are left in a lurch in an even worse job market after multiple big tech companies like Amazon, Microsoft, Google, and Flipkart together cut thousands of jobs across multiple departments in the first two weeks of 2024. The first two weeks of 2024 saw thousands of job cuts(Freepik) One of the…
Shares of electrical goods company Polycab India on Thursday plummeted 21 per cent, eroding ₹15,485.96 crore from its market valuation, amid tax evasion concerns. Polycab India The Income Tax department has detected “unaccounted cash sales” of about ₹1,000 crore after it recently raided the Polycab group, a prominent wires, cables and electrical items manufacturer, the…
BusinessWire India HT Image Mumbai (Maharashtra) [India], January 11: [INVNT GROUP] The Global BrandStory Project™, announces its expansion into South Asia opening its tenth office across seven countries in Mumbai, India. The move aligns with the Group’s vertical and horizontal growth strategy, which supports the increasing demand for innovative brand storytelling in one of the…
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