Business News
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13 Nov 2023
GermanyGermany's Continental plans major job cuts in auto division
Continental, a German auto parts manufacturer, revealed plans to eliminate thousands of jobs globally in its automotive division, with the goal of saving €400 million (Rs. 3,560 crore) annually by 2025.
13 Nov 2023
E-commerceProcurement from Government e-Marketplace crosses Rs. 2L crore this year
India's Government e-Marketplace (GeM) portal has reached a notable milestone, as the procurement of goods and services surpassed Rs. 2 lakh crore in the current fiscal year.
13 Nov 2023
Stock MarketManappuram Finance's Q2 profit rises 37% to Rs. 561cr
Manappuram Finance witnessed a 36% year-on-year (YoY) increase in its consolidated net profit for the quarter ending September, reaching Rs. 560.65 crore.
13 Nov 2023
Stock MarketMorgan Stanley expects S&P 500 to hit 4,500 by 2024-end
On Monday, Morgan Stanley revealed its projection for the S&P 500 to reach 4,500 by the end of 2024, indicating a 2% increase from its present standing.
13 Nov 2023
IndiaIndia's GDP to grow 6.5% in FY24, FY25: Morgan Stanley
Morgan Stanley Research on Monday forecasted a 6.5% economic growth for India in FY24 and FY25, attributing this growth to solid domestic fundamentals.
13 Nov 2023
Stock MarketSensex slips 325 points, Nifty settles below 19,450 mark
On Monday, the benchmark Sensex and Nifty indices witnessed a slump.
13 Nov 2023
DiwaliDiwali retail sales hit record Rs. 3.75L crore in India
During this year's Diwali festivities, the push for made-in-India products resonated with the public, leading to a surge in sales of locally produced goods over Chinese imports.
13 Nov 2023
ChinaWhat China's ICBC is doing to recover from ransomware attack
Last week, the Industrial and Commercial Bank of China's (ICBC) US broker-dealer, ICBC Financial Services, experienced a severe ransomware attack, resulting in a $9 billion debt to BNY Mellon.
13 Nov 2023
ChinaChina's Didi bounces back, posts first quarterly profit since 2021
Didi Global, China's top ride-hailing firm, has registered its first quarterly profit since 2021, indicating a recovery from regulatory hurdles.
13 Nov 2023
Reserve Bank Of India (RBI)RBI may set cut-off yield on 10-year bonds at 7.69-7.72%
In a move to raise funds, Indian states are set to conduct a bond sale with maturities ranging from 10 to 30 years.
13 Nov 2023
ONGCONGC to produce oil from $5bn deep-water project this November
The Oil and Natural Gas Corporation (ONGC) is preparing to initiate oil production from its long-awaited flagship deep-sea project in the Krishna Godavari basin, located in the Bay of Bengal.
13 Nov 2023
HyundaiHyundai's upcoming $1.5bn EV plant will produce 200,000 cars annually
Hyundai has kicked off the construction of a specialized electric vehicle (EV) manufacturing facility in Ulsan, South Korea, investing $1.52 billion in the project.
13 Nov 2023
BoeingChina may end its freeze on Boeing 737 Max deal
China is thinking about buying Boeing 737 MAX planes at the APEC Summit in San Francisco, where Presidents Joe Biden and Xi Jinping will meet, reported Bloomberg.
13 Nov 2023
CryptocurrencyToday's cryptocurrency prices: Check Bitcoin, Ethereum, BNB, XRP rates
Bitcoin has lost 0.16% of its value in the last 24 hours, trading at $36,916.95. It is up 5.81% from last week.
13 Nov 2023
Stock MarketTSMC up 4% on first monthly sales gain since February
Shares of Taiwan Semiconductor Manufacturing Company (TSMC) soared by up to 4.1%, following the announcement of the company's first monthly sales gain since February.
12 Nov 2023
TumblrHere's why Tumblr is excessively downsizing staff
A leaked internal communication from Tumblr's parent company, Automattic, has disclosed most of its 139 employees will be reassigned to different projects within the organization.
12 Nov 2023
FoxconniPhone-maker Foxconn launches satellites on SpaceX rocket: What it means
Foxconn has launched two prototype low-Earth orbit (LEO) satellites aboard a SpaceX rocket from Vandenberg Space Force Base, California.
12 Nov 2023
CryptocurrencyToday's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Solana, BNB
Bitcoin has dropped by 0.3% in the past 24 hours to trade at $36,989.32 currently. Compared to last week, however, it is up by 4.94%.
11 Nov 2023
Reliance JioJio AirFiber expands to 115 cities in India: Check availability
Reliance Jio's 5G fixed wireless access (FWA) service, Jio AirFiber, has extended its reach to 115 cities throughout India since its debut with eight cities on September 19.
11 Nov 2023
GoogleGoogle to invest millions in Character.AI: Report
Google's parent company, Alphabet, is in talks to invest a substantial sum in AI chatbot start-up Character.AI, two insiders familiar with the development have told Reuters.
11 Nov 2023
CryptocurrencyCryptocurrency prices today: Check rates of Bitcoin, Cardano, Solana, Tether
Bitcoin has climbed 0.94% in the past 24 hours and is currently trading at $37,098.26. It is 7.08% higher than last week.
10 Nov 2023
Life Insurance Corporation of IndiaLIC Q2 results: Profit falls 50% YoY to Rs. 7,925cr
The Life Insurance Corporation of India (LIC) saw a major 50% year-on-year (YoY) drop in net profit for the quarter ending September, plummeting to Rs. 7,925 crore.
10 Nov 2023
Coal IndiaCoal India's Q2 profit rises 12.5% YoY to Rs. 6,813cr
Coal India Limited (CIL) saw a 12.5% increase in consolidated net profit, reaching Rs. 6,813 crore in Q2 FY24, compared to Rs. 6,043.5 crore during Q2 FY23.
10 Nov 2023
IndiaGold, silver transactions on Dhanteras total Rs. 30,000 crore
This year, Dhanteras, marking the beginning of the week-long Diwali celebrations, saw a big boost in trade across the country.
10 Nov 2023
BYJU'SRanjan Pai ends BYJU'S-Kempner dispute with Rs. 1,400cr debt deal
Manipal Group's Ranjan Pai has resolved issues between BYJU'S and investment management company Davidson Kempner, by purchasing the latter's debt investment in the edtech firm for Rs. 1,400 crore.
10 Nov 2023
Aditya Birla GroupHindalco's Q2 consolidated net profit flat at Rs. 2,196 crore
Aditya Birla Group-owned Hindalco announced a consolidated net profit of Rs. 2,196 crore in Q2 FY24.
10 Nov 2023
Stock MarketSensex closes at 64,904 points, Nifty settles above 19,420 mark
On Friday, the stock market closed on a flat note and not much movement was witnessed.
10 Nov 2023
Mahindra & MahindraM&M's Q2 net profit rises 67% YoY to Rs. 3,452cr
Homegrown automaker Mahindra & Mahindra (M&M) posted a whopping 66.9% increase in standalone net profit, reaching Rs. 3,451.88 crore during the second quarter of the current fiscal year.
10 Nov 2023
TaiwanTaiwan looking to recruit up to 1 lakh Indian workers
Taiwan is looking to employ up to 1 lakh Indian workers in a bid to strengthen economic ties between the two countries, a senior official revealed to Bloomberg.
10 Nov 2023
Employees' Provident Fund Organisation (EPFO)Centre begins crediting interest to PF accounts ahead of Diwali
The process of depositing interest into provident fund (PF) accounts for the fiscal year 2022-23 has begun, as reported by the Employees' Provident Fund Organisation (EPFO) in an official announcement.
10 Nov 2023
Enforcement Directorate (ED)ED hits Hero MotoCorp CEO again, seizes Rs. 25cr assets
The Enforcement Directorate (ED) has confiscated three Delhi properties valued at Rs. 25 crore, under the Prevention of Money Laundering Act, 2002.
10 Nov 2023
ChinaChina's Country Garden targets offshore debt restructuring by year-end
Country Garden, China's leading private real estate developer, is devising a preliminary strategy to reorganize its overseas debt by the end of this year, Reuters reported.
10 Nov 2023
Initial Public Offering (IPO)Honasa Consumer's market cap down Rs. 1,300cr in 3 days
Shares of Honasa Consumer Ltd, the company behind Mamaearth, dipped as much as 15% to touch Rs. 256.30 on November 10, hitting a new all-time low.
10 Nov 2023
CryptocurrencyCryptocurrency prices: Check today's rates of Bitcoin, Ethereum, Dogecoin, Tether
Bitcoin has increased 0.27% in the past 24 hours to trade at $36,722.74. It is up 6.61% compared to last week.
10 Nov 2023
MetaMeta to return to China after 14-year hiatus: Here's how
Meta has struck a deal with Tencent to sell a new, low-cost virtual reality (VR) headset in China, as per a Wall Street Journal report.
10 Nov 2023
ChinaChina's biggest bank ICBC falls victim to ransomware attack
The US division of China's Industrial and Commercial Bank of China (ICBC), called ICBC Financial Services, fell victim to a ransomware attack causing disruptions in US Treasury trades, reported Reuters.
09 Nov 2023
UnicornInCred to join the unicorn club soon: Here's how
InCred Holdings Limited, the holding company of InCred Financial Services Limited, revealed that it has received commitments amounting to Rs. 500 crore in its Series D funding round.
09 Nov 2023
AppleApple faces setback in $14bn tax battle with EU
Apple and Ireland find themselves in a challenging position in their ongoing clash with the European Union's (EU) antitrust watchdog.
09 Nov 2023
TataTata Technologies eyes IPO investment from Morgan Stanley, BlackRock
Tata Technologies is discussing with Morgan Stanley, Blackrock, and several US hedge funds to secure investments for its upcoming initial public offering (IPO).
09 Nov 2023
Stock MarketAshok Leyland's Q2 profit grows 220% YoY to Rs. 526cr
In a stellar second-quarter performance, Ashok Leyland Ltd, one of India's leading commercial vehicle manufacturers, reported a huge surge in net profit.
