Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
22 Nov 2023
ZomatoZomato and Swiggy receive GST notices totaling Rs. 750 crore
The Directorate General of GST Intelligence (DGGI) has slapped food delivery giants Zomato and Swiggy with Goods and Services Tax (GST) demand notices, amounting to Rs. 400 crore and Rs. 350 crore, respectively.
22 Nov 2023
Air IndiaDGCA fines Air India for non-compliance with CAR regulations
The Directorate General of Civil Aviation (DGCA) has slapped Air India with a Rs. 10 lakh fine.
22 Nov 2023
Advertising Standards Council of IndiaMost digital advertisements between April-September 2023 flouted guidelines, says ASCI
The Advertising Standards Council of India (ASCI) has disclosed that most celebrities and influencers are not adhering to the disclosure norms for influencer advertising in digital media.
22 Nov 2023
Bharti AirtelBharti Airtel initiates IPO process for subsidiary Bharti Hexacom
Bharti Airtel is gearing up to take its subsidiary, Bharti Hexacom, public through an initial public offering (IPO), per CNBC-TV18.
22 Nov 2023
Stock MarketSemiconductor foray adds $3bn to Murugappa Group's market value
Murugappa Group added $3 billion (approximately Rs. 25,000 crore) in market value on Wednesday after one of the conglomerate's units announced its intentions to enter the semiconductor assembly industry, reported Bloomberg.
22 Nov 2023
Stock MarketMamaearth Q2 profit jumps 93% YoY to Rs. 29cr
Mamaearth's parent Honasa Consumer registered a 93% YoY growth in net profit in Q2 FY24, reaching Rs. 29.4 crore from Rs. 15.2 crore in the same period last year.
22 Nov 2023
Stock MarketSensex closes at 66,023.24 points, Nifty settles above 19,810 mark
The stock market closed on a flat note on Wednesday.
22 Nov 2023
OpenAIMeet the newcomers on OpenAI's board
OpenAI has announced that Sam Altman will be returning as CEO, after a brief removal from the position.
22 Nov 2023
TataTata Technologies IPO fully subscribed within an hour of opening
The much-awaited initial public offering (IPO) of Tata Technologies saw an impressive response on the first day of bidding on Wednesday.
22 Nov 2023
IndiaIndian bonds set for highest foreign inflows in 6 years
Foreign investments in Indian bonds are skyrocketing, with the highest levels seen since 2017 as investors buy local debt in anticipation of India's inclusion in global indexes.
22 Nov 2023
United States of AmericaDr. Reddy's, Glenmark, Zydus recall tainted medicines in the US
The US Food and Drug Administration (USFDA) has announced that Dr. Reddy's Laboratories, Zydus, and Glenmark Pharma are recalling products in the US due to manufacturing issues.
22 Nov 2023
CryptocurrencyWho is Richard Teng, the newly appointed CEO of Binance
Binance, the world's largest cryptocurrency exchange, has named Singaporean businessman and former regulator Richard Teng as its new CEO.
22 Nov 2023
Sam AltmanSam Altman returns as OpenAI CEO along with new board
Sam Altman is back as OpenAI's CEO after a whirlwind five days of talks following his unexpected firing last week.
22 Nov 2023
CryptocurrencyCryptocurrency prices today: Check rates of Bitcoin, Ethereum, BNB, XRP
Bitcoin has slipped 2.59% in the past 24 hours to trade at $36,413. It is 2.32% higher than the week before.
22 Nov 2023
Sam AltmanSam Altman reappointed as CEO of OpenAI
Just days after being fired from OpenAI, former CEO Sam Altman has returned to the company as its top boss.
22 Nov 2023
SonySony set to face $7.9bn lawsuit over PlayStation Store prices
Sony is facing a massive lawsuit worth up to £6.3 billion ($7.9 billion).
22 Nov 2023
CryptocurrencyCrypto kingpin pleads guilty: The case against Binance founder
Binance's founder and CEO, Changpeng Zhao, has admitted to violating US anti-money laundering regulations as part of a $4.3 billion settlement (Rs. 35,825 crore).
21 Nov 2023
Tata Consultancy Services (TCS)TCS to record $125 million lawsuit expense in Q3 results
The US Supreme Court has dismissed an appeal from Tata Consultancy Services (TCS) regarding a $140 million fine in connection with a trade secret lawsuit filed by American company Epic Systems.
21 Nov 2023
Reliance IndustriesReliance to invest Rs. 20,000cr in Bengal over 3 years
Mukesh Ambani, the chairman and managing director of Reliance Industries Limited (RIL), on Tuesday announced the company's intention to invest an additional Rs. 20,000 crore in West Bengal over the next three years.
21 Nov 2023
WeddingsUpcoming wedding season may generate Rs. 4.74 lakh crore business
The Confederation of All India Traders (CAIT) anticipates a bustling wedding season in India, with an estimated Rs. 4.74 lakh crore in mainline retail revenue.
21 Nov 2023
ChinaChina's state banks swapping and selling USD for Yuan
Major Chinese state-owned banks have been trading Yuan for US Dollars (USD) in the onshore swap market and selling those Dollars in spot currency markets this week, as per Reuters.
21 Nov 2023
Reserve Bank Of India (RBI)India's Q2 GDP likely grew 7%, exceeding MPC's 6.5% forecast
India's economy likely grew 7% in the second quarter (Q2) of the ongoing financial year, research firm ICRA noted on Tuesday.
21 Nov 2023
Ministry of FinanceIndia may face recession risks in 2024, warns Finance Ministry
The Ministry of Finance's latest monthly review warns of a potential recession in 2024 due to uncertainties surrounding rising food and energy costs amid geopolitical tensions.
21 Nov 2023
Stock MarketSensex gains 275 points, Nifty settles above 19,780 mark
On Tuesday, the benchmark Sensex and Nifty indices saw gains.
21 Nov 2023
Indian Railway Catering and Tourism CorporationIRCTC jumps nearly 3% as Railway Board approves long-term tenders
Shares of the Indian Railway Catering and Tourism Corporation (IRCTC) saw a 2.72% jump during Tuesday's trading session, reaching Rs. 720.30 each on BSE.
21 Nov 2023
Go FirstJindal Power will not bid to take over Go First
Jindal Power will not present a final bid for the financially struggling airline, Go First, despite having previously submitted an Expression of Interest (EoI).
21 Nov 2023
TitanTitan to hire over 3,000 employees in next 5 years
Leading lifestyle brand Titan Company has unveiled its plans to hire over 3,000 employees in the next five years.
21 Nov 2023
Enforcement Directorate (ED)ED uncovers Rs. 9,000cr FEMA violation at BYJU'S, issues notice
The Enforcement Directorate (ED) has issued a show-cause notice to BYJU'S, accusing the company of violating the Foreign Exchange Management Act (FEMA) to the tune of Rs. 9,000 crore.
21 Nov 2023
Sam AltmanWhy Sam Altman was fired from OpenAI
OpenAI, the maker of ChatGPT, recently ousted its CEO, Sam Altman, after a "deliberative review process" conducted by the board.
21 Nov 2023
Personal FinanceInvesting in PPF? Know government's new rule changes, interest rates
The Indian government has made it easier for individuals to participate in various small savings programs, such as the Public Provident Fund (PPF) and Senior Citizen's Savings Scheme (SCSS).
21 Nov 2023
CryptocurrencyToday's cryptocurrency prices: Check rates of Bitcoin, Ethereum, BNB, Tether
Bitcoin has gained 0.44% in the past 24 hours to trade at $37,381.49. It is 2.33% up compared to last week.
21 Nov 2023
Satya NadellaSatya Nadella open to Sam Altman returning to OpenAI
In a recent CNBC interview, Microsoft CEO Satya Nadella hinted that he was still open to Sam Altman rejoining OpenAI, despite an announcement earlier that Altman would join Microsoft's artificial intelligence innovation division.
21 Nov 2023
OpenAIOpenAI pursues merger with Google-backed Anthropic as Altman joins Microsoft
OpenAI's Board of Directors reached out to Dario Amodei, co-founder and CEO of Anthropic, a competing large-language model developer, to discuss a possible merger between the two companies, according to The Information.
20 Nov 2023
OpenAINearly 500 OpenAI employees threaten to quit unless board resigns
A revolt erupted within OpenAI on Monday, as 490 employees demanded the resignation of the board.
20 Nov 2023
XiaomiXiaomi's Q3 net income rises 180% YoY on cost-cutting measures
Xiaomi on Monday announced a whopping 183% year-on-year (YoY) surge in its third-quarter net income, reaching 6 billion yuan (Rs. 7,140 crore) to exceed expectations.
20 Nov 2023
Enforcement Directorate (ED)ED files prosecution complaint under PMLA against Amway India
The Enforcement Directorate (ED) has filed a prosecution complaint against direct-selling company Amway India under the Prevention of Money Laundering Act, 2002 (PMLA).
20 Nov 2023
Securities and Exchange Board of IndiaSEBI launches IRRA platform to lower risks for investors
On Monday, SEBI Chairperson Madhabi Puri Buch unveiled the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).
20 Nov 2023
NBFCJio Financial Services aims to raise Rs. 10,000cr via bonds
Jio Financial Services (JFS), a subsidiary of Reliance Industries Ltd (RIL), is planning its first bond issuance, with the goal of raising between Rs. 5,000 crore and Rs. 10,000 crore.
20 Nov 2023
Initial Public Offering (IPO)IREDA IPO opens November 21: All you need to know
Indian Renewable Energy Development Agency (IREDA) is preparing to launch an initial public offering (IPO) valued at Rs. 2,150 crore on November 21.
20 Nov 2023
IndiaGDP growth could dip amid uncertainties surrounding upcoming elections
Goldman Sachs predicts a slight decrease in India's real GDP growth to 6.3% in 2024, down from the 6.4% forecasted for 2023.
