Business News
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Labor minister: EPFO 3.0 to enable paper-free UPI withdrawals
EPFO 3.0 introduces UPI-enabled ATM withdrawals and paperless processes, offering faster claim settlements and enhanced digital convenience for provident fund subscribers.
Kuku FM targets ₹15,000cr valuation with ₹3,500cr IPO plan
Kuku FM has confidentially filed draft papers with Sebi for a Rs 3,500-crore IPO, aiming for a valuation of Rs 15,000 crore, sources revealed.
Benchmark raises $2 billion and launches $1.25 billion growth fund
Benchmark Capital has raised $2 billion across two new funds, including a $1.25 billion growth fund, marking a departure from its historically small fund sizes.
Indian stock markets open shaky as Sensex falls 253 points
The Sensex dropped over 250 points, and Nifty hovered near 23,350 as persistent FPI selling and West Asia tensions dampened investor sentiment in early trade on June 4.
AI investments push US tech to 39% of S&P 500
U.S. technology stocks, driven by AI enthusiasm, now comprise over 39% of the S&P 500's market cap, raising concerns about excessive market dependence on a few tech giants.
Indian markets open lower Thursday as Sensex falls 452 points
Indian stock markets opened in losses on Thursday, with Sensex falling 452 points and Nifty down 123 points, as weak cues from Asian markets weighed on investor sentiment.
Indian rupee opens at 95.71 with rates expected at 5.25%
The rupee opened at 95.71 against the dollar as markets await the RBI MPC's rate decision, with inflation and growth forecasts under scrutiny amid global economic uncertainties.
Gold rises as weaker dollar, Iran resolution hopes boost demand
Gold prices climbed 0.7% as a weaker dollar and easing oil prices bolstered sentiment, with investors eyeing potential progress toward a U.S.-Iran peace resolution.
Amazon cuts 30,000 corporate jobs amid $200 billion AI push
Amazon has laid off 30,000 corporate employees in eight months while planning to spend billions on AI infrastructure, sparking pushback from workers and communities.
CLSA keeps Outperform on LTIMindtree with ₹5,755 price target
CLSA maintains an Outperform rating on LTIMindtree, citing AI-driven opportunities and ambitious revenue doubling targets, with a potential 42% upside from the current price.
Global wealth reaches $98.3 trillion as AI rallies create millionaires
Global high-net-worth wealth hit a record $98.3 trillion in 2025, driven by AI-led stock rallies that added nearly 2 million new millionaires worldwide.
CrowdStrike $1.39B revenue beats estimates, operating expenses up 15%
CrowdStrike's Q1 operating expenses rose 15% to $1.07 billion as the company accelerated investments in AI and product development, despite surpassing revenue estimates.
SEBI revises AIF master circular, limits co-investing to accredited investors
SEBI's revised master circular consolidates key regulatory changes for Alternative Investment Funds, covering co-investments, overseas investments, and compliance norms.
Uber commits nearly $500 million to Nuro and Lucid robotaxi rollout
Uber has invested nearly $500 million in self-driving startup Nuro, advancing plans to deploy 35,000 robotaxis using Lucid's vehicles and Nuro's technology.
Broadcom Q2 revenue falls short as shares drop over 11%
Broadcom reported $22.19 billion in Q2 revenue, missing Wall Street estimates of $22.27 billion, as rising competition in the custom semiconductor market impacts growth.
Indian-born founders launched 96 US unicorns, more than other immigrants
Indian-born founders have created 96 billion-dollar startups in the US, surpassing immigrants from Israel, the UK, and China, driving America's innovation ecosystem.
IRCTC removes 30 million suspicious IDs, checks 60 million accounts
IRCTC has deactivated over 3 crore suspicious user accounts and deployed AI-enabled cameras in 800+ kitchens to monitor hygiene, flagging violations for swift corrective action.
Quantinuum, Honeywell's quantum arm raises $1.68B in US IPO
Quantinuum secured $1.68 billion in its U.S. IPO, pricing shares at $60 each, as investor interest surges in the burgeoning quantum computing sector.
TSMC optimistic as AI surge drives demand for advanced chips
TSMC CEO C.C. Wei expressed confidence in sustained growth, citing robust demand for advanced semiconductors fueled by increasing adoption of AI models across various applications.
Australia wants Meta Google and TikTok to pay local publishers
Meta has strongly criticized Australia's draft laws requiring tech giants to pay for news, calling them "grossly unfair" and warning they won't sustain a diverse media industry.
Gurugram's TrueFan AI raises $10 million valuing company $40 million
TrueFan AI secured $10 million in a funding round led by Baring PE and Z3Partners, valuing the Gurugram-based startup at $40 million.
Alphabet raises $84.75B equity offering to fund AI push
Alphabet Inc. increased its equity offering to $84.75 billion, aiming to fund growing AI investments, including its tensor processing units and data center expansions.
Gold up 0.7% near $4,465 after Israel and Lebanon ceasefire
Gold prices climbed 0.7% as Israel and Lebanon agreed to a conditional ceasefire, easing near-term pressure from yields and drawing dip-buyers back into the market.
Former RCom MD Jhunjhunwala in custody over ₹2,929cr loan fraud
A special CBI court has remanded former RCom Group MD to custody till June 5 over alleged ₹2,929-crore loan fraud, following his arrest linked to fund diversion charges.
FirstClub raises $55 million in Series B, valuation doubles to $255 millionlion
Bengaluru-based premium grocery startup FirstClub raised $55 million in a Series B round co-led by Peak XV Partners and Sofina, boosting its valuation to $255 million.
PM Modi's Cabinet scraps capital gains tax on government securities
India plans to eliminate capital gains tax on foreign portfolio investments in government securities via an ordinance, aiming to boost overseas inflows amid economic challenges.
MoSPI issues district economy guidelines with 2022-23 base for reliability
The Statistics Ministry has issued standardised guidelines for compiling District Domestic Product (DDP) estimates, adopting 2022-23 as the base year.
SoftBank sells 3.25% Lenskart stake in ₹2,873 cr block deal
SoftBank Group, via SVF II Lightbulb (Cayman) Ltd, sold a 3.25% stake in Lenskart for ₹2,873 crore through a block deal on the NSE.
Ringg AI in talks for $10 million with Peak XV
Peak XV Partners is in discussions to lead a $10 million funding round for Bengaluru-based voice AI startup Ringg AI, highlighting growing investor interest in voice technology.
Indian VCs move teams to Bay Area for AI
Indian venture capitalists are increasingly setting up operations in the US, particularly the Bay Area, to capitalize on the rapidly growing generative AI sector.
Indian automakers expand in-house finance to ease vehicle purchases
Automakers are increasingly focusing on captive retail financing to boost sales, enhance customer loyalty, and tap into India's growing $28.47 billion vehicle financing market.
Citi to cut 20,000 jobs by 2026, spares India workforce
Citi's Ernesto Torres Cantu discusses India's immunity to global layoffs, AI-driven productivity gains, and its growing role in restructured global supply chains.
WeRize secures $28 million from Sony Innovation Fund to expand banking
Bengaluru-based fintech WeRize has raised $28 million in a round led by Sony Innovation Fund, aiming to enhance AI capabilities and expand its financial product offerings.
SEBI framework lets brokers offer retail algo strategies from ₹5,000
Major brokers are set to launch algorithmic trading tools for retail investors, leveraging regulatory clarity to expand services and revenue.
US and Iran retaliation hints push Brent toward $98
Crude oil prices surged near $100 per barrel following renewed US-Iran tensions, disrupting global markets and ending Wall Street's nine-day record rally.
US plans 12.5% tariffs on India China over forced labor
The US Trade Representative has proposed a 12.5% tariff on exports from 54 countries, including India, citing failure to curb imports involving forced labour practices.
India recommends ordinance easing foreign investor taxes to steady rupee
The Union Cabinet has approved an ordinance to relax tax norms for foreign investors in certain securities, aiming to curb rupee depreciation and address record FPI outflows.
Broadcom stock falls 12% after hours on $16B AI miss
Broadcom shares fell 12% in after-hours trading as its AI chip revenue guidance for Q3 and the fiscal year missed Wall Street expectations, despite strong recent stock gains.
Uber deploys 500 Hyundai Ioniq 5 EVs for AV data
Uber plans to roll out 500 sensor-equipped Hyundai Ioniq 5 vehicles globally this year, aiming to collect high-fidelity driving data for its autonomous vehicle technology partners.
US inflation rises after Iran conflict blocks Strait of Hormuz
The Federal Reserve reported that surging energy costs from the Iran war are driving "moderate to strong" inflation, with ripple effects on shipping, groceries, and other sectors.
IKEA opens 4th global product development center in India
IKEA has launched a product development centre in India, marking its evolution from a sourcing base to a hub for designing affordable home furnishings for local and global markets.
IndiGo has suspended flights to Kuwait
India's largest low-cost carrier, IndiGo, has announced the suspension of its flight operations to and from Kuwait. The decision comes in light of the ongoing closure of Kuwait's airspace.
Over 300,000 TCS, Infosys, Wipro employees using Microsoft 365 Copilot
India's top three IT services companies: Tata Consultancy Services (TCS), Infosys, and Wipro have adopted Microsoft 365 Copilot for over 100,000 employees each.
These 2 firms now hold majority stake in Rapido
Rapido, a leading Indian ride-hailing platform, has raised $240 million in a funding round led by Prosus.
Amazon tops Fortune 500, ending Walmart's 13-year reign
Amazon has dethroned Walmart to become the number one company on the Fortune 500 list, ending a 13-year reign for the retail giant.
Man behind TikTok surpasses Mukesh Ambani as Asia's 2nd-richest person
Zhang Yiming, the co-founder of ByteDance, has surpassed Mukesh Ambani to become Asia's second-richest person.
Modi government readies $4B stimulus to boost economy
The Union Cabinet has approved a ₹39,290 crore ($4 billion) package of projects and initiatives aimed at stabilizing aviation fuel prices, reforming urban transport, and developing national highway infrastructure.
Modi government approves ₹10,000cr fund to stabilize jet fuel prices
The Indian government has approved a ₹10,000 crore Aviation Turbine Fuel (ATF) Price Stabilization Fund.
Apple to submit its Indian financials to competition watchdog
Apple has agreed to submit the financials of its Indian operations to the Competition Commission of India (CCI).
This 'next trillion-dollar company' has significant ties to India
NVIDIA CEO Jensen Huang has dubbed Marvell Technology the "next trillion-dollar company," highlighting its pivotal role in powering AI data center infrastructure.
Could US-Iran war trigger a global recession?
The Organisation for Economic Co-operation and Development (OECD) has warned that a prolonged conflict in the Middle East could severely impact global economic growth.
India's services sector grows at fastest pace in 6 months
India's services sector has witnessed its fastest growth in six months, largely due to a surge in domestic demand. The growth was particularly strong in e-commerce, entertainment, and IT industries.
Sensex crashes over 1,150 points: What's behind today's fall?
India's equity benchmarks witnessed a sharp decline on Wednesday, with the BSE Sensex crashing over 1,150 points and the Nifty 50 index plummeting by more than 300 points in intraday trade.
Indus Appstore's co-founder Akash Dongre has quit
Akash Dongre, the Chief Product Officer and Co-founder of Indus Appstore, has announced his resignation from the PhonePe-owned mobile app marketplace.
DeepSeek plans to raise $7.4B in maiden funding round
Chinese artificial intelligence (AI) start-up DeepSeek is gearing up for its first major fundraising round, hoping to raise around CNY 50 billion ($7.4 billion).
Gold now world's top reserve asset, surpassing US Treasuries
Gold has surpassed US Treasuries to become the world's top reserve asset, a European Central Bank (ECB) report has revealed.
RBI's MPC meeting begins today: What to expect
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting starts today.
Bitcoin crashes over 7% to nearly $66,000
The world's leading cryptocurrency, Bitcoin, has witnessed a significant drop in its value.
Did RBI sell gold to protect India's forex reserves?
The Reserve Bank of India (RBI) may have sold a portion of its gold reserves to protect its foreign-currency assets from the impact of the ongoing US-Iran conflict in West Asia.
US proposes 12.5% tariffs on imports from India
The United States has proposed an additional tariff of 12.5% on imports from India and 53 other countries, in a move linked to forced labor practices in production.
SpaceX sets $135 per share target for record IPO
SpaceX, the rocket and satellite communications company, is gearing up for a historic initial public offering (IPO).
Do airlines using Adani airports have to pay higher fees?
The Adani Group and the Airports Economic Regulatory Authority of India (AERA) are embroiled in a legal dispute over airport charges.
Why JLR is taking loans worth £2B
Jaguar Land Rover (JLR), the British luxury car division of Tata Motors, is raising £2 billion through a five-year loan from several multinational banks.
Why SpaceX's IPO filing says water access is a risk
SpaceX has updated its initial public offering (IPO) filing to highlight water access as a major challenge.
Section 301 explained: The US trade law worrying India
As the US and India inch closer to a trade deal, New Delhi has sought protection from possible tariffs under Section 301 of the US Trade Act.
AI creates 13 new jobs at this software company
While many tech companies are letting employees go, a Silicon Valley software firm is doing the opposite.
How Producer Price Index will help measure India's inflation
India is set to launch its first-ever Producer Price Index (PPI) to measure inflation.
Mother Dairy will soon sell milk in naturally degradable pouches
Mother Dairy, a leading milk supplier in India, has launched the country's first naturally degradable milk pouch.
Infosys shares up 6% after rolling out AI-backed journalism tool
Infosys's shares rose by over 6% today, following the company's announcement of an artificial intelligence (AI)-powered editorial recommendation engine.
Zomato, Swiggy, Amazon, Meesho and Zepto form new industry body
India's leading e-commerce companies have formed a new industry-led platform called the Digital Commerce Coalition.
Amid AI boom, Jensen Huang warns not to underpay employees
NVIDIA CEO Jensen Huang has weighed in on the ongoing debate over fair employee compensation amid the AI boom.
Delhi start-up seeks pay cuts from staff after ₹2cr error
A Delhi-based tech company has come under fire for asking its employees to bear the brunt of a ₹2 crore loss caused by a single employee's mistake.
India-UK FTA: New Delhi might reconsider Scotch whisky tariff cuts
India has warned that it may reconsider major concessions under the India-UK Free Trade Agreement (FTA), including tariff cuts on Scotch whisky.
Coca-Cola's Indian bottling subsidiary may get listed in 2027
Coca-Cola is considering an initial public offering (IPO) for its Indian bottling subsidiary, Hindustan Coca-Cola Holdings.
BharatPe Flex lets you make UPI payments on credit
BharatPe, a financial services and UPI payments firm in India, has launched 'BharatPe Flex.'
You can give suggestions to 8th-Pay Commission till June 15
The 8th Central Pay Commission (CPC) has extended the deadline for submitting the memorandums and suggestions to June 15.
Reporting cyberattacks on India's financial sector might soon become easier
The Indian government is working on a unified system for reporting and responding to cyberattacks across the financial sector, Moneycontrol has reported.
Alphabet seeks $80B to fund AI expansion
Google's parent company, Alphabet, has announced plans to raise $80 billion through a series of stock sales. The move includes a big investment deal with Berkshire Hathaway.
South Korea overtakes India as 6th-largest stock market
South Korea's stock market has overtaken India's to become the world's sixth largest.
Why Florida is suing OpenAI and Sam Altman
Florida Attorney General James Uthmeier has filed a lawsuit against OpenAI and its CEO Sam Altman.
Berkshire Hathaway invests $10B in Google parent
Berkshire Hathaway has made a major investment in Alphabet, the parent company of Google. The conglomerate, now led by Greg Abel, has invested $10 billion through a private stock purchase.
ED raids Vedanta Group offices in FEMA case
The Enforcement Directorate (ED) has launched a raid at the offices of Vedanta in Mumbai and Delhi.
Anthropic files for IPO
Anthropic, a leading artificial intelligence (AI) company and the creator of the popular Claude AI model, has officially kicked off its initial public offering (IPO) process.
CBI arrests former RCom MD in bank fraud case
Amitabh Jhunjhunwala, the former Group Managing Director of Reliance Communications, has been arrested by the Central Bureau of Investigation (CBI) in a major bank fraud case.
SpaceX to reserve 5% of IPO stock for employees, family
SpaceX has announced its plan to reserve up to 5% of shares in its upcoming initial public offering (IPO) for select employees and the friends and family of its executive officers.
India's fiscal deficit in FY26 stands at 4.4% of GDP
India's fiscal deficit for the financial year ending March 31, 2026, stood at 4.4% of its gross domestic product (GDP).
China's new rules for overseas investments: How it affects you
China has introduced new regulations to tighten its grip on overseas investments involving Chinese investors, technology, data, and national security.
No more cash wages to workers in Telangana
In a landmark decision, the Telangana government has banned cash wage payments to workers and mandated electronic transfers.
India's industrial output grew by 4.9% this April
India's industrial output grew by 4.9% in April 2026, according to the first reading of the revamped Index of Industrial Production (IIP) series with FY23 as the new base year.
Noel Tata writes to RBI, opposes Tata Sons public listing
Noel Tata, the chairman of Tata Trusts, has written a letter to the Reserve Bank of India (RBI), opposing any potential public listing of Tata Sons.
UPI crosses 23B monthly transactions for first time
India's Unified Payments Interface (UPI) has achieved a major milestone by crossing the 23 billion monthly transaction mark for the first time in May 2026.
Sensex crashes 1,100 points from day's high levels
India's benchmark indices, Sensex and Nifty, witnessed a major fall from their day's high on June 1.
Why domestic air traffic in India is going down
India's domestic aviation sector has seen a decline in passenger traffic, with only 13.8 million travelers in April 2026.
Why Zee Entertainment's shares are up 20% in 5 sessions
Shares of Zee Entertainment Enterprises have witnessed a massive rally, surging by nearly 20% over the past five sessions.
GST collections up 3.2% YoY to ₹1.94L crore in May
India's Goods and Services Tax (GST) collections rose by 3.2% year-on-year to ₹1.94 lakh crore in May 2026, official data released today has showed.
SoftBank becomes Japan's most valuable company, surpassing Toyota
SoftBank Group has dethroned Toyota to become Japan's most valuable company.
Jet fuel prices cut 27% for international airlines
The price of Aviation Turbine Fuel (ATF) for international airlines has been slashed by 27% in India.
New UPI and ATM rules from today
A host of changes have come into effect from June 1, impacting Unified Payments Interface (UPI) and other financial aspects.
How BYD became a $10B bet for Berkshire Hathaway
During the 2008 global financial crisis, investing legend Charlie Munger spotted a unique opportunity in Chinese electric vehicle (EV) maker BYD.
Installing rooftop solar panels will cost you more now
Starting today, India has implemented a major change in its solar sector.
How Airtel is helping Vodafone Idea add more subscribers
Vodafone Idea (Vi) is capitalizing on the ongoing debate over premium 5G connectivity to position itself as a provider of equal network access for all users.
India's factory growth hits 3-month high
India's manufacturing sector witnessed the fastest growth in three months in May, owing to strong domestic demand and a spike in new orders.
Russia bans aviation fuel exports till November 30
Russia has announced a ban on aviation fuel exports until November 30.
How to trace forgotten mutual funds using new government portal
The Ministry of Finance has launched a new awareness initiative called "Your Money, Your Right" to help citizens trace their forgotten or unclaimed financial assets.
Coinbase re-enters India with direct bank-to-crypto transfers
Popular cryptocurrency exchange Coinbase has launched direct Indian rupee (INR) deposit and withdrawal services for retail users in India.
India-Oman trade deal comes into effect today
India's Comprehensive Economic Partnership Agreement (CEPA) with Oman will come into effect today at 2pm IST.
Why Noel Tata is holding up Tata Sons chairman's reappointment
The chairman of Tata Trusts, Noel Tata, has reportedly told the board of Tata Sons that there are several unresolved issues.
China's manufacturing sector expands for 6th consecutive month
China's manufacturing sector has expanded for the sixth consecutive month in May, albeit at a slower rate.