Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
OYO parent Prism cuts IPO fresh issue to ₹3,350 cr
Prism, OYO's parent company, has cut its planned IPO fresh issue to Rs 3,350 crore, nearly half of the previously proposed Rs 6,650 crore.
Micron introduces quarterly bonuses for all employees tied to performance
Micron is launching a new quarterly bonus scheme for global employees, linked to company profits, complementing existing annual incentives with payments in cash and shares.
Huawei lands 15 billion yuan offshore loan amid US restrictions
Huawei Technologies Co. has obtained a 15 billion yuan ($2.25 billion) offshore loan from six Chinese banks to support its growing investment in AI-related chip projects.
Samsung boosts Exynos 2700 production over 10% with 2nm SF2P
Samsung Electro-Mechanics will supply ABF package substrates to NVIDIA for AI processors, while Samsung Foundry plans a 10% increase in Exynos 2700 production.
Norway sovereign wealth fund reports about $30 billion Q3 loss
Norway's sovereign wealth fund reported a $30 billion loss in Q3, primarily due to rising interest rates impacting its bond investments.
Kolkata's Fusion CX bets on AI for revenue and profits
Fusion CX anticipates sustained revenue and profit momentum, driven by its core customer experience outsourcing and expanding AI data infrastructure services.
Japan's Rengo seeks 6% wage rise for 2027, 3-4% base
Japan's largest labor union federation, Rengo, aims for a 6% wage increase in 2027 negotiations to boost consumer spending and economic growth.
Jio Platforms $3.2 billion IPO fully booked within 2 hours
SBI Securities is offering leveraged financing for Jio Platforms' $3.2 billion IPO, highlighting intense competition among brokers eager to attract investors amid the IPO frenzy.
Tata Sons and Tata Trusts seek insurance amid boardroom dispute
Tata Sons and Tata Trusts are in discussions with insurers to assess coverage for potential legal claims amid their escalating dispute over the group's future direction.
SoftBank market value halves amid borrowing and costly AI bets
SoftBank's market value has dropped by 50% since June, driven by investor worries over rising borrowing costs and potential valuation losses in its AI investments.
Nestle India shares slip to 1,186.20 rupees after leadership changes
Shares of Nestlé India fell 3.08% to ₹1,186.20 following the announcement of a senior management restructuring effective January 2027.
Palantir and NVIDIA partner to deliver sovereign AI for organizations
Palantir Technologies is broadening its AI deployments across various sectors, leveraging NVIDIA's models to enhance efficiency and control over data systems.
Motilal Oswal recommends Indian Hotels shares with ₹870 target
Motilal Oswal recommends a buy rating for Indian Hotels, setting a target price of Rs 870, driven by strong revenue growth and an upgraded FY27 guidance.
NCDEX launches NDEX and FINNDEX using trading activity and volatility
NCDEX has introduced two new equity indices, NDEX and FINNDEX, offering a multi-factor approach to stock selection, potentially challenging the dominance of Nifty and Sensex.
ICICI Bank hikes cash transaction fees for amounts over ₹100,000
ICICI Bank will increase charges for select savings account cash transactions from December 1, 2026, affecting customers who exceed the free monthly transaction limits.
Fusion CX lists at ₹305 on NSE 5.54% above IPO
Fusion CX Ltd shares listed on the NSE at a 5.54% premium over the IPO price of ₹289, opening at ₹305, while the broader market traded in the red.
Flipkart loses 3 more VPs amid IPO timeline uncertainty
Flipkart has witnessed the exit of three more vice presidents, raising the total senior-level departures to 14 in over a year amid ongoing IPO uncertainty.
Jio Platforms IPO 3.47x demand, retail fully booked 2nd day
The retail portion of Jio Platforms' initial public offering was fully subscribed by 11:00 am on the second day of bidding, according to BSE data.
Motilal Oswal recommends MMFS buy with ₹375 target after Q2
Motilal Oswal has issued a buy rating for Mahindra & Mahindra Financial, setting a target price of Rs 375, following strong financial performance in 2QFY27.
Alibaba stock falls 6.1% on Chinese regulators' product quality push
Alibaba's shares fell 6.1% on Thursday, marking their largest decline since August, amid regulatory pressures and a tax deadline impacting market sentiment.
Motilal Oswal sets ₹1,170 target for Hindalco, cites buying opportunity
Motilal Oswal has issued a buy rating for Hindalco, setting a target price of Rs 1170, citing strong earnings growth potential and attractive risk-reward opportunities.
Meta strikes deal with Zuckerberg to keep him in California
Meta has struck a deal with its CEO Mark Zuckerberg, allowing him to sell shares without losing control of the company.
Cognizant assigns more than 18,000 to build on Google Gemini
Cognizant is dedicating over 18,000 employees to develop AI agents using Google's Gemini, aiming to transition AI projects from pilot stages to everyday business operations.
Hang Seng Index hits 4-month low amid Beijing support worries
Hong Kong stocks hit a four-month low as technology shares sold off, driven by weak stimulus expectations and concerns over China's economic imbalances.
Tesla posts $1.53 billion free cash flow, trims 2026 investment
Tesla reported an unexpected $1.53 billion in free cash flow for Q3, while announcing a one-fifth reduction in its 2026 capital expenditure forecast to $20 billion.
Nokia Q3 beats forecasts with €605 million adjusted operating income
Nokia Oyj's third-quarter profit exceeded expectations, driven by increased demand for data center networking equipment amid a surge in AI infrastructure investment.
Automattic begins layoffs amid board crisis and executive exodus
Automattic, the parent company of popular platforms like WordPress.com, WooCommerce, and Tumblr, has started laying off employees., according to Techcrunch.
Cars24's Chopra commits $20 million to AI after EBITDA turnaround
Vikram Chopra, CEO of Cars24, is investing $20 million in AI to accelerate growth and transform the company, while navigating co-founder transitions and considering a future IPO.
Meta creates new class of shares to fund AI investments
Meta plans to introduce a new class of non-voting shares to help fund its growing AI ambitions.
ICICI Securities gives IHCL buy, ₹969 target after Q2 results
ICICI Securities recommends a buy rating for Indian Hotels, setting a target price of Rs 969, citing strong Q2FY27 performance and increased revenue growth guidance.
DeepSeek raises $15B to challenge OpenAI and Anthropic
DeepSeek, a leading artificial intelligence (AI) start-up from China, has raised 100 billion yuan ($15 billion) in its latest funding round.
Shiprocket enters food delivery space
Shiprocket, a leading logistics and e-commerce enablement company, has announced its entry into the food delivery sector to rival Zomato and Swiggy.
ICICI Securities gives Vishal Mega Mart buy rating, target ₹150
ICICI Securities recommends a buy rating for Vishal Mega Mart, citing strong revenue growth and market share gains, with a target price set at Rs 150.
Tesla's net profit drops 43% in Q3
Tesla has reported a major decline in its net profit for the third quarter of 2026.
Union Bank of India expects rise in AI debt funding
India's AI market is moving towards debt financing for data centres, while facing risks like GPU obsolescence and evolving regulatory frameworks, according to a report.
Cognizant acquiring DyFlex to boost Australia and New Zealand AI
Cognizant has announced a definitive agreement to acquire DyFlex Solutions, an AI-led SAP transformation firm based in Australia, to bolster its regional expertise.
Oil prices cross $110 after drone attack on Saudi oilfield
Oil prices have surged due to a drone attack on a Saudi Aramco oilfield, raising fears of supply disruptions amid the escalating West Asia conflict.
Meta reports $65B revenue for Q3
Meta Platforms, the parent company of Facebook and Instagram, has reported a stellar third-quarter revenue for 2026.
Shiprocket's fastrr helps Delhi NCR restaurants reduce commission payments
Shiprocket is testing a direct-ordering model with Delhi-NCR restaurants to reduce costs, leveraging its fastrr platform for customer data and efficient deliveries.
Indian stocks slump Thursday as Sensex falls 691 points
Equity benchmarks opened sharply lower as surging crude oil prices and geopolitical tensions in West Asia weighed on market sentiment.
Rupee falls to ₹94.50 against US dollar amid oil, equities
The rupee fell 12 paise to 94.50 against the US dollar in early trade, impacted by weak domestic markets and rising crude oil prices.
Elon Musk confirms Tesla SpaceX merger could boost his wealth
A potential merger between Tesla and SpaceX could accelerate the vesting of Elon Musk's Tesla shares, potentially adding over $110 billion to his fortune.
Bitcoin retreats under $82,800 after brief jump above $84,000
Bitcoin's surge to nearly $85,000 reversed as it settled below $82,800. Mixed results from Tesla and Meta failed to ease investor concerns about the AI trade.
Down 20% from peak, China's stock market enters bear territory
China's mainland-listed shares have entered a technical bear market, with the CSI 300 Index plunging nearly 20% from its June peak.
SBI Research maintains December 0.5% RBI rate hike forecast
SBI Research maintains its forecast for a 50-basis-point repo rate hike in December, citing persistent inflationary pressures and elevated crude oil prices.
Elice Inc. set for $151 million KOSDAQ IPO, largest this year
Elice Inc. is set to debut on South Korea's Kosdaq, raising 201 billion won, amid investor concerns following Firmus Grid's canceled listing.
RBI holds 1L cr VRR auction, injects 50K cr liquidity
The Reserve Bank of India is managing banking system liquidity by alternately withdrawing and injecting funds to align money-market conditions with its monetary policy stance.
Indian markets seen lower as Brent gains and inflation worries
Indian shares are expected to open lower on Thursday as rising oil prices, driven by Middle East tensions, fuel inflation worries and extend recent market losses.
China's CSI 300 drops nearly 20% as stimulus hopes fade
China's mainland-listed shares have entered bear territory, with the CSI 300 Index dropping 20% from its June peak due to weak earnings and waning stimulus hopes.
Indonesia main stock index falls after MSCI warns of downgrade
Indonesian shares dropped sharply after MSCI Inc. reiterated its warning of a potential downgrade, raising fresh concerns about the country's market status and reform commitments.
Meta deal keeps Mark Zuckerberg through 2034 with nonvoting shares
Meta Platforms has reached an agreement with CEO Mark Zuckerberg to remain in California, offering non-voting shares to offset potential tax liabilities from a proposed wealth tax.
GIFT Nifty drops 91.5 points to 22,637 amid oil worries
GIFT Nifty indicates a weak start for Indian markets, trading 91.5 points lower amid rising crude oil prices and escalating US-Iran tensions impacting investor sentiment.
Gold and silver drop after Saudi attacks boost oil prices
Gold and silver prices declined globally due to West Asian geopolitical tensions, which pushed crude oil prices higher, raising concerns about inflation and monetary policy.
Meta Q3 revenue rises 26% to $64.6B on AI
Meta Platforms reported a 26% increase in third-quarter revenue to $64.60 billion and anticipates fourth-quarter revenue between $73 billion and $76 billion.
Jio Platforms IPO oversubscribed 3.2 times led by institutions
Jio Platforms' IPO received a robust response, with overall subscriptions reaching 3.2 times and the QIB portion booked 9.42 times on the first day of bidding.
Big Wall Street banks scramble as AI costs outpace expectations
Wall Street executives face mounting challenges as unpredictable AI expenses strain budgets, prompting urgent strategies to control costs and maximize technology investments.
Asian stocks fall as Samsung and SK Hynix shares slide
Asian stocks declined following mixed earnings reports from major companies like Tesla and Meta. Meanwhile, oil prices increased amid escalating tensions in the Middle East.
Across Southeast Asia 243 million use AI, only 1%-2% pay
Southeast Asia rapidly embraces AI, with 243 million users in under three years, yet only 1-2% pay for subscriptions, highlighting alternative monetization strategies.
Meta plans Muse AI monetization after 26% revenue jump
Meta Platforms reported a strong quarter, driven by the viral success of its Muse AI agent, and outlined an ambitious roadmap to monetize this new technology effectively.
Asian markets mixed as oil surges and AI worries grow
Asian stocks showed mixed performance as oil prices surged due to Middle East tensions, while concerns over AI investment costs weighed on investor sentiment.
Staffing firm Xpheno: Indian IT majors 92,000 exits intake 68,000
India's top tech firms, including TCS and Infosys, saw 92,000 exits with hiring lagging behind, resulting in a net loss of 24,422 jobs over the past year.
Indian telecoms push AI replacing drive tests, minister proposes committee
Telecom operators are advocating for AI and network analytics to supplement or replace traditional drive tests, aiming for more efficient service quality assessments.
RBI easing allows banks up to 75% takeover funding, ₹10,000cr
Indian banks have financed over ₹10,000 crore in M&A deals since July, following the RBI's easing of takeover-financing rules, with SBI leading the charge.
RBI rejects 224 T-bill bids 1st time since March 2025
For the first time since March 2025, the RBI rejected all bids in three treasury-bill auctions due to a tight fund-flow situation and high government cash reserves.
SpaceX shares lift Dow 360 points as futures slip
The Dow Jones surged 360 points during regular trading, buoyed by SpaceX's strong performance, but futures are under pressure following mixed results from Tesla and Meta.
Blackstone N1 leader Jas Khaira says AI debt fears overstated
Jas Khaira of Blackstone argues that concerns about AI infrastructure debt are exaggerated, emphasizing that most data center financing is backed by highly creditworthy companies.
Central bankers say AI could reshape jobs, wages, monetary policy
Central bankers are increasingly focusing on AI's impact on employment, as concerns about job security influence wage demands and economic policies worldwide.
Vultr announces 20MW Chennai data center with AMD Instinct GPUs
Vultr, a US cloud AI provider, will establish a 20 MW data center in Chennai, deploying AMD Instinct GPUs to support AI workloads for enterprises and research institutions.
Meta Q3 profit falls to $9.86B after $18B US settlement
Meta exceeded third-quarter revenue forecasts, but profits were significantly impacted by an $18 billion legal settlement and a $25 billion penalty in New Mexico.
CoreWeave neocloud firm drops 29% this month to $34 billion
CoreWeave faces a crisis as its stock plummets 29% this month and bond yields soar to 15%, raising concerns about its financial stability in the AI sector.
Tesla starts Optimus humanoid robot production at Fremont plant
Tesla has commenced production of its Optimus humanoid robot in Fremont, California, while reporting a 43% drop in profits due to increased spending on AI and robotics.
Gold edges up on Federal Reserve uncertainty, Middle East unrest
Gold prices fluctuated as traders evaluated the Federal Reserve's interest rate trajectory amid potential renewed hostilities in the Middle East, impacting market dynamics.
Tesla Q3 2026 revenue tops estimates as AI costs rise
Tesla surpassed Wall Street's revenue expectations for Q3, driven by increased vehicle deliveries and energy storage growth, though AI and robotaxi investments impacted profits.
IBM reports 3rd-quarter beat as Arvind Krishna cites 'Super intelligence'
IBM exceeded expectations in Q3, with earnings of $2.95 per share and revenue of $17.10 billion, as CEO Arvind Krishna highlighted the impact of 'Super Intelligence.'
Automattic lays off communications and social staff amid executive exits
Automattic has initiated layoffs affecting various teams following a failed board attempt to oust CEO Matt Mullenweg, leading to significant executive departures.
Meta to invest $145B by 2026, will issue nonvoting shares
Meta has increased its 2026 capital expenditure forecast to up to $145 billion for AI expansion and plans to introduce non-voting shares, while Q3 revenue surpassed expectations.
Kochi pharma firm allegedly duped 99L in WhatsApp CEO scam
A Kochi-based pharmaceutical company lost ₹99 lakh after a fraudster impersonated its CEO on WhatsApp, convincing an accounts staffer to transfer the funds.
BlackRock launches iShares Future Robotics and related technologies ETF
BlackRock has launched a robotics-focused ETF, targeting companies using intelligent machines, as investors become more selective amid cooling enthusiasm for AI investments.
Walmart launches Agent Gateway with Meta's Muse and AI integrations
Walmart is embracing agentic commerce with its new Agent Gateway, allowing AI agents to manage transactions, contrasting Amazon's recent move to block such technology.
Legora raises $550 million for legal AI at $8.8B valuation
Legal AI startup Legora has raised a $550 million Series E round, valuing the company at $8.8 billion, as it aims to expand its services across North America.
US Secretary of State Marco Rubio visits Reliance Jamnagar refinery
During Marco Rubio's visit, discussions focused on potential commercial partnerships in conventional and new energy sectors, emphasizing India's refining capabilities.
Why Booking.com is facing an EU probe
The European Union (EU) has launched an investigation into online travel agent Booking.com over alleged failures to combat fake listings and phishing scams.
SAT reserves order in trading giant Jane Street's case
The Securities Appellate Tribunal (SAT) has reserved its order in the case of trading giant Jane Street.
Netflix beats earnings estimates, so why are shares falling?
Netflix has reported its third-quarter earnings, which have beaten analyst estimates.
How Costa Coffee turned into a $5.1B headache for Coca-Cola
Coca-Cola's $5.1 billion acquisition of Costa Coffee, the UK's answer to Starbucks, has turned out to be a costly miscalculation.
Looted French luxury goods up for resale on Vinted
In the wake of the recent unrest in France, online second-hand marketplace Vinted has removed listings of stolen French goods.
India's crude import bill jumps 46% to $91 billion
India's crude oil import bill has witnessed a massive jump of 46.3% to $90.6 billion in the April-September period, according to data from the Petroleum Planning and Analysis Cell (PPAC).
Carlsberg might file for $700M IPO in India this week
Danish brewing giant Carlsberg is gearing up to file for an initial public offering (IPO) of its Indian business as early as this week, as per Bloomberg.
Eternal's Q2 FY27 profit jumps 92% YoY to ₹125cr
Eternal, the parent company of Zomato and Blinkit, has reported a 92% jump in its net profit for the quarter ending September 30.
Sensex crashes 1,400 points from day's high
India's benchmark indices, Sensex and Nifty, witnessed a major fall from their day's high on Wednesday. The decline was mainly due to profit booking at higher levels.
eMudhra shares crash 20% after security flaw hits TLS certificates
Shares of Bengaluru-based eMudhra Ltd plummeted by 20% on Wednesday.
HDFC Bank finds 2 senior executives leaked secrets
HDFC Bank, India's largest lender by market capitalization, is investigating two of its senior executives for allegedly leaking confidential business strategies and possibly market-sensitive information.
Deepinder Goyal teases 'DARK by ETERNAL' on social media
Deepinder Goyal, the founder of Eternal (Zomato's parent company), has teased a new project called Dark.ai.
You can use Vodafone Idea's voice-only plans by October-end
Vodafone Idea is all set to launch its new voice-only plans by the end of this month.
AI IPOs could add $100B to India's stock-market: Goldman Sachs
Goldman Sachs has predicted that India's listed artificial intelligence (AI) market could see a major boost in the coming years.
Getty Images files for bankruptcy in the US
Getty Images Holdings Inc has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware.
Meta's chief global affairs officer to quit after 15 years
Meta's Chief Global Affairs Officer, Joel Kaplan, is set to leave the company next year.
Boeing's long-delayed 737 MAX 10 gets FAA certification
The US Federal Aviation Administration (FAA) has given its nod to Boeing's 737 MAX 10, the largest variant in the best-selling aircraft family.
Trump faces lawsuit over 50% tariffs on Canadian goods
The Gellert Global Group, a New Jersey-based food importer, has filed a lawsuit against President Donald Trump's 50% tariffs on several Canadian products.
SBI flags potential data breach involving 3.75L customer records
The State Bank of India (SBI), the country's largest lender, has flagged a potential data breach involving 3.75 lakh customer records.
Income tax audit compliance deadline today: Key points for taxpayers
The extended deadline for income tax audit compliance ends today.
Indian government bonds face major decline today: What's the reason?
Indian government bonds witnessed a major sell-off today, owing to the relentless rise in oil prices.
Why Foursquare's acquisition left its co-founder Dennis Crowley 'heartbroken'
Dennis Crowley, the co-founder of location technology company Foursquare, has expressed his disappointment over the company's recent acquisition by Infillion.
Xbox plans fresh layoffs in November and January: Report
Microsoft is reportedly planning another round of layoffs in its Xbox division.
Jio IPO opens as India's biggest-ever share sale
India's largest-ever public issue, the ₹30,213-crore initial public offering of Jio Platforms, sailed through to full subscription within just 35 minutes of opening on its first day of bidding on Wednesday.
Musk confirms merger talks between SpaceX and Tesla
Elon Musk has confirmed that his two companies, SpaceX and Tesla, are in talks about a possible merger.
Salesforce acquires customer engagement platform Braze for $5.66B
Salesforce has announced its acquisition of Braze, a leading customer engagement platform, in a deal worth approximately $5.66 billion (including debt).
Jio Platforms IPO opens tomorrow: Here's how to apply
Jio Platforms, India's leading telecom company, is gearing up to launch its initial public offering (IPO) on October 21.
How UK plans to break Apple's dominance in contactless payments
UK's competition regulator, the Competition and Markets Authority (CMA), has proposed measures to reduce Apple's dominance in the contactless payments space.
Cognizant and Google Cloud to promote agentic AI adoption
Cognizant and Google Cloud have expanded their partnership to promote the adoption of agentic artificial intelligence (AI).
BMW might pay you ₹7cr to leave the company
BMW has launched a voluntary exit program, offering its employees severance packages of up to €650,000 (roughly ₹7 crore).
Qualcomm to lay off employees worldwide in performance-focused cuts
Qualcomm, one of the world's leading smartphone chipmakers, has announced a global job cut as part of a "performance-focused reduction."
US will discuss processing Venezuelan crude with Reliance: Rubio
United States Secretary of State Marco Rubio has said that the United States will be discussing with Mukesh Ambani-owned Reliance Industries about refining more Venezuelan crude.
India's online retail market to exceed $90 billion in 2026
India's online retail market is set to witness a major boom, with projections estimating it will exceed $90 billion by 2026.
Kospi crashes another 5%, now down 40% from peak
South Korea's benchmark KOSPI index has witnessed another crash, falling by 5%. The fall comes as a result of a chip-led sell-off in artificial intelligence (AI) stocks.
Disney asked Character.AI to go bankrupt to avoid legal baggage
Disney reportedly required Character.AI to go through bankruptcy proceedings as part of a deal to acquire access to its technology and hire much of its staff, according to court filings reviewed by WIRED.
Musk to distribute SpaceX shares to children through Trump Accounts
Elon Musk has announced his plan to give one of his SpaceX shares to "every kid in America" next year.
Chinese billionaires might face taxes on offshore holdings worth $140B
China's wealthiest billionaires could be facing a potential crackdown on holdings of nearly $140 billion.
Anthropic might announce another $45B compute deal with Nscale
Anthropic and AI infrastructure provider Nscale are in talks for a second $45 billion compute deal.
Why Micron workers in Taiwan are going on strike tomorrow
Workers at a Micron Technology plant in Taiwan are gearing up for a strike tomorrow.
OpenAI targets $30B at $1.4 trillion valuation
OpenAI is fast-tracking a major fundraising round, hoping to secure investor commitments before rival Anthropic's public market debut in mid-November.
Eric Schmidt's 1% Anthropic stake could be worth $20 billion
Former Google CEO Eric Schmidt owns a 1% stake in Anthropic, a leading AI start-up. The investment was made during the company's Series A funding round.
Jio raises ₹8,110cr from anchor investors ahead of IPO
Jio Platforms, the parent company of Reliance Jio Infocomm, has raised ₹8,109.84 crore from 212 anchor investors.
India-NZ FTA kicks in: What gets cheaper for you
The Free Trade Agreement (FTA) between India and New Zealand has come into effect from today.
Musk's $158B Tesla pay faces shareholder vote in December
Tesla has scheduled a shareholder meeting on December 3 to decide on the re-election of CEO Elon Musk, board chair Robyn Denholm, and director JB Straubel for another three-year term.
Bajaj Finance's Q2 net profit jumps 29% to ₹6,266cr
Bajaj Finance has reported a whopping 29% jump in its net profit for the quarter ended September 30, 2026.
OYO parent might launch its IPO in November
Prism, the parent company of hospitality platform OYO, is gearing up to launch its initial public offering (IPO) in November.
RBI conducts ₹1L crore VRR auction to enhance banking liquidity
The Reserve Bank of India (RBI) has conducted a ₹1 lakh crore Variable Rate Repo (VRR) auction today.
Diwali Muhurat Trading session on November 8: Check timings
The Bombay Stock Exchange (BSE) has announced the schedule for the Diwali Muhurat Trading session in 2026.