Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Jack Dorsey-led Block is laying off 4,000 employees
Jack Dorsey, CEO of Block, attributes advances in AI as the reason behind his decision to cut 40% of the company's workforce.
Dixon, Longcheer set up smartphone, AI-PC joint venture in India
Dixon Technologies and Longcheer Intelligence have formed a joint venture, Dixtel Infocomm, to manufacture various smart devices in India with an initial investment of around Rs 10 crore.
Kanpur cops bust ₹400cr GST scam, arrest 2 suspects
Kanpur police have busted a significant GST fraud racket, involving transactions worth nearly ₹250 crore and arresting two individuals.
Flipkart gets NCLT nod for merger, clears path for IPO
Walmart-owned e-commerce giant, Flipkart, has begun early discussions with select investment banks regarding a potential initial public offering (IPO) in India.
Fig Security raises $38 million to help SOCs run smoothly
Fig Security, an Israeli startup, has emerged from stealth with $38 million in seed and Series A funding to help security teams manage changes in complex tech stacks.
Why is Aramco rerouting its oil exports away from Hormuz
Saudi Aramco is rerouting crude exports to Yanbu port, aiming to bypass the attack-impacted Strait of Hormuz, according to sources.
Uber's Karnataka license renewed, bike taxis could return soon
Uber has secured a five-year renewal of its transport aggregator licence from the Karnataka State Transport Authority, allowing it to continue operations in the state until 2026.
Gold loses $177, silver tumbles 6.5% in a day
Gold and silver prices significantly dropped on March 3 due to a strong US dollar, despite escalating Middle East tensions.
Ayar Labs raises $500 million at $3.75B valuation
Ayar Labs, a chip developer backed by Nvidia, has raised $500 million in a recent funding round, reaching a valuation of $3.75 billion.
P.E. Analytics to launch AI chatbot for real estate insights
P.E. Analytics Ltd, operator of PropEquity, is developing an AI-powered conversational platform for the real estate sector, following strong financial growth over recent years.
Russia sues EU over frozen assets worth $300 billion
Russia's Central Bank has filed a lawsuit against the European Union, contesting the indefinite freeze on $230 billion of its reserves.
Sedemac Mechatronics IPO opens tomorrow: Key details
OpenAI CEO Sam Altman admits the company's Pentagon deal appeared "opportunistic and sloppy", while investors are set to gain from Sedemac Mechatronics' upcoming IPO.
US-India trade deal: What's the hold-up?
The US President's 2026 Trade Policy Agenda acknowledges unresolved "sensitive issues" in ongoing bilateral trade negotiations with India.
HCLSoftware at India AI Impact Summit 2026: Highlights
HCLSoftware demonstrated its commitment to digital sovereignty and data security through innovative AI products at the India AI Impact Summit 2026.
Rapido launches food delivery app Ownly, promises no commission fees
Rapido has launched its food delivery app, Ownly, in Bengaluru. The platform operates on a zero-commission model for restaurants.
On-demand household services startup Pronto raises $25 million
Anjali Sardana, a 23-year-old entrepreneur, has built Pronto, a $100 million startup providing instant domestic help services in India's bustling urban areas.
Fino Payments Bank CEO arrested in online gaming tax evasion
Fino Payments Bank's plans to become a small finance bank remain unimpacted by the recent arrest of its CEO, Rishi Gupta, according to interim chief Ketan Merchant.
IndiGo to launch non-stop flights to Reunion Island
IndiGo is introducing non-stop flights from Chennai to Réunion Island starting April 29, 2026, marking the airline's 46th international destination.
5 overlooked but useful loans you need to know about
India's financial landscape is dotted with a plethora of loan options, some of which are not as well-known but can be quite useful.
India's Saudi oil imports hit record high: What's the reason?
India's crude oil imports from Saudi Arabia reached a record high of 1.05 million barrels per day (bpd) in February, according to data from analytics firm Kpler.
Japan is interested in rare earth deposits in Rajasthan
Japan is in talks with India to jointly explore rare earth deposits in Rajasthan, according to Reuters.
Tata Sons to invest ₹11,000cr in Jamshedpur
Tata Sons Chairman N Chandrasekaran has announced a massive investment of ₹11,000 crore in advanced technology for Jamshedpur.
Meet Offbeat Studios, Boat founder Aman Gupta's new venture
Aman Gupta, the co-founder of consumer electronics brand Boat, has announced his new venture, Offbeat Studios.
Gold, silver prices might crash up to 8%: Here's why
The ongoing conflict between the US and Iran has caused a spike in gold and silver prices.
Eurozone inflation rises to 1.9% in February
Inflation in the euro zone unexpectedly jumped to 1.9% last month, largely due to rising food and service costs and escalating oil prices amid Middle East conflicts.
SoftBank's $65B OpenAI bet risks credit rating: Report
S&P Global Inc. has downgraded SoftBank Group Corp.'s credit outlook to negative, due to its planned $30 billion investment in OpenAI.
Infosys and Intel join forces to make AI accessible
Infosys and Intel are expanding their partnership to aid businesses in transitioning from AI pilots to large-scale implementations.
Jio appoints Dan Bailey as President to boost global expansion
Jio Platforms has appointed telecom industry veteran Dan Bailey as its new President. The move comes as part of the company's strategy to expand its international footprint.
Amazon data centers damaged by drone strikes amid US-Iran conflict
Amazon has confirmed that three of its data centers in the Middle East were damaged by drone strikes, amid the ongoing US-Iran conflict.
Meet the jury members for ET GenAI Hackathon
The ET GenAI Hackathon has named Ankit Aggarwal, CEO of Unstop, and Sravanth Aluru, CEO of Avataar.ai, as jury members to strengthen its evaluation framework.
India faces severe talent shortage, with only 56% job-ready workers
The 2026 Global Talent Shortage Survey reveals an 82% hiring difficulty rate in India, ranking it fifth globally in talent shortage.
Mark Carney wraps up 1st India visit as Canadian PM
Canadian Prime Minister Mark Carney and Reliance Industries Chairman Mukesh Ambani recently discussed potential collaborations to strengthen Canada-India economic ties.
China to unveil new 5-year plan focusing on economic reform
China is gearing up to unveil its latest five-year plan, a strategic blueprint outlining policy priorities and long-term goals for economic reform, industrial upgrading, technological innovation, national security, environmental protection and social development.
PM asks MSMEs to ramp up production, focus on exports
Prime Minister Narendra Modi encourages Micro, Small, and Medium Enterprises (MSMEs) to boost exports and improve India's global competitiveness.
AI, infrastructure to drive India's next growth wave: Adani Group
Adani Group's CFO, Jugeshinder Singh, predicts that India's next growth phase will be driven by the 'infrastructure of intelligence', enabling AI-led hyper growth.
Aman Gupta launches Offbeat Studios after stepping back from boAt
Aman Gupta, co-founder of consumer electronics brand Boat, is launching a new venture named Offbeat Studios. This follows his recent transition to a non-executive role at Boat.
South Korea's Kospi index plunges over 7% amid global rout
South Korean stocks experienced their worst selloff since 2024, driven by escalating tensions in the Middle East and concerns over rising energy costs.
Paramount faces $79B debt post Warner Bros merger
Paramount has announced that its net debt will rise to around $79 billion after the Warner Bros-Paramount Skydance merger.
Why flight ticket prices on Asia-Europe routes are soaring
The ongoing US-Israel war against Iran has led to the closure of major Middle Eastern hubs, including Dubai, the world's busiest international airport.
US-Iran conflict might deter investments in India, says report
The ongoing conflict in the Middle East could have major implications for India's economic growth, a new report by Fitch Group's BMI has warned.
IndiGo, SpiceJet are now bringing Indians back from Middle East
Indian airlines IndiGo and SpiceJet have launched special relief operations to repatriate passengers stranded due to airspace disruptions in the Middle East.
Jio appoints Dan Bailey as President for international expansion
Jio Platforms has appointed telecom veteran Dan Bailey as President to lead its international expansion from London, marking a significant step in the company's global ambitions.
Invest more in manufacturing, research: PM Modi to industry leaders
Prime Minister Narendra Modi urged industry leaders to increase investments, adopt emerging technologies, and prioritize research to enhance India's manufacturing capabilities.
Why Indian stock markets are closed today
The stock market is closed on March 3 due to the official trading holiday for Holi 2026, despite many celebrating the festival on March 4.
Elon Musk on trial for tweets tied to Twitter takeover
Elon Musk, the world's richest person, is facing a trial over his tweets related to the acquisition of Twitter Inc. in 2022.
Bitcoin rises 3% after 5 months of losses
Bitcoin rebounded to near $68,000 after five consecutive monthly losses, reflecting strong investor faith demonstrated by $1 billion inflows into crypto investment products.
White-collar jobs in India jumped 13% in December: Naukri
India's white-collar job market saw a 12% year-on-year increase in February, with a significant surge in IT and AI roles, according to Naukri's JobSpeak Index.
Taboola's AI ad platform Realize is now available to everyone
Adam Singolda, CEO of Taboola, predicts that Indian advertisers and publishers will adopt AI faster than any other market due to their willingness to experiment.
Natco Pharma launches generic cancer drug in the US
Natco Pharma, in partnership with Breckenridge Pharmaceutical, has launched a generic version of Pomalyst, Pomalidomide Capsules, in the US market.
ADB to provide $1.2 billion loan to India in 2026
The Asian Development Bank (ADB) plans to lend India $1.2 billion in 2026, focusing on clean energy and sustainable infrastructure development.
China's new 5-year plan to reshape global economy
China's upcoming five-year plan for 2026-2030 aims to stimulate consumer spending, encourage technological innovation, and boost advanced manufacturing sectors.
AI could take over these jobs by 2033
Harsh Goenka's recent viral post warns of artificial intelligence potentially replacing nine common job roles within seven years due to rapid technological advancements.
LNG tanker rates triple to $200,000 daily amid US-Iran war
The cost of leasing liquefied natural gas (LNG) tankers in the Atlantic Basin has more than tripled to over $200,000 per day.
Tata Sons pauses chairman reappointment for 3rd term
Tata Sons Pvt. board's deferral on extending Chairman Natarajan Chandrasekaran's tenure for a third term rekindles governance concerns within the company.
Meta bets big on AMD, in $100B chip deal
Meta Platforms, Facebook's owner, is set to buy artificial intelligence chips from Advanced Micro Devices (AMD) in a deal potentially worth over $100 billion.
Asian markets drop as Iran conflict pushes oil prices
Asian stock markets, including Japan's Nikkei and South Korea's Kospi, experienced significant drops due to escalating tensions in the Middle East.
Layoffs at Jack Dorsey's Block lead to employee getting rehired
Andrew Harvard, a former employee of Jack Dorsey's financial firm Block, was rehired after his layoff was revealed to be a clerical error.
Pronto raises $25 million at 100 million valuation to expand across India
Home services startup Pronto has raised $25 million in a Series B round led by Epiq Capital, with participation from existing investors.
Elon Musk's $44B Twitter deal tweets land him in court
Elon Musk is on trial over allegations of manipulating Twitter's stock price through his tweets ahead of his $44 billion acquisition of the company in 2022.
Gulf war could sink global trade: Shipping giants steer clear
Major global container shipping companies are modifying their routes and schedules due to the escalating conflict between the US, Israel, and Iran.
Syngenta's new AI platform offers pro farming tools for free
Syngenta's digital platform, Cropwise, plans to increase its coverage from 78 million hectares to 100 million hectares by 2030, aiding farmers with AI-driven insights.
Blackstone's credit fund faces $1.7 billion exit in Q1
Blackstone's $82 billion private credit fund has seen net outflows of $1.7 billion following significant withdrawal requests from investors.
ICAI CA Foundation, intermediate January 2026 results by March 8
The Institute of Chartered Accountants of India (ICAI) has declared the result dates for the CA January 2026 Foundation and Intermediate examinations.
South Korean defense stocks soar amid US-Iran tensions
South Korean defence stocks, including Hanwha Aerospace and Lignex1, have seen a significant surge of up to 30% due to the ongoing US-Iran war.
AI coding tool Cursor hits $2B annual run rate
AI coding assistant startup, Cursor, has reportedly doubled its revenue run rate over the past three months, surpassing $2 billion in annualized revenue.
Sensex crashes 2,744 points as Iran's Khamenei killed in airstrike
Asian markets experienced a dip on Tuesday due to rising oil prices and inflation concerns, leading to a decrease in bond yields.
Reliance Retail is revamping its fashion business to woo Gen Z
Reliance Retail is reorienting its fashion strategy towards private labels and faster product cycles to attract India's young consumers.
UPI wallet for international tourists launched at India AI Summit
The National Payments Corporation of India (NPCI) is streamlining the KYC process for foreign users of its UPI One World service, pending approval from the Reserve Bank of India.
India to award ₹1tn highway projects to private developers in FY27 (2026-27)
Private investors are projected to commit nearly ₹1 trillion towards highway construction in FY27, marking a historic high for India's roads sector.
Leon Black sued for alleged collusion with Jeffrey Epstein
Leon Black, co-founder of Apollo Global Management, is accused in a lawsuit of colluding with Jeffrey Epstein and Brad Karp to silence sexual harassment accusers.
Tax department probes Hind Samachar for ₹65cr GST evasion
The Punjab government has initiated proceedings against Hind Samachar Ltd, publisher of the Punjab Kesari newspaper, over alleged tax evasion of ₹65 crore.
Explained: Why Saudi Arabia is now India's biggest oil supplier
In February, Russia continued as India's largest crude supplier, closely followed by Saudi Arabia which saw a 30% increase in its supplies.
US stock markets wobble as Middle East conflict escalates
US stocks fluctuated on Monday as investors monitored the ongoing conflict between the US and Israel against Iran, impacting global markets and gas prices.
US Treasury yields soar after Khamenei's death in Iran attack
U.S. Treasury yields soared following military strikes in Iran, triggering a surge in oil prices and escalating inflation fears.
Appeals court rejects Trump's bid to pause tariff refund fight
A US federal appeals court has denied President Donald Trump's request to postpone legal proceedings related to his tariff refunds.
Iran conflict rattles global markets, JPMorgan pulls back on EM
JPMorgan Chase & Co. has reduced its bullish stance on emerging-market currencies and bonds due to the uncertainties surrounding the US-Iran conflict.
India, US agree on new trade framework
India and the US are advancing towards a trade agreement aimed at enhancing market access and reducing trade barriers, according to the United States Trade Representative.
Why Raytheon Technologies (RTX) stock just hit a new high
Raytheon's stock rose 4% as escalating tensions in the Middle East fueled investor interest in defense companies, despite overall market instability.
How to invest in infrastructure trusts
Investing in Indian infrastructure trusts can be a lucrative opportunity for those looking to diversify their portfolios.
PPF v/s FD: Which is better for tax savings?
Public Provident Fund (PPF) and Fixed Deposits (FDs) are two popular investment options in India. Both offer different benefits when it comes to tax savings.
Why Sony is facing £2B class action lawsuit in UK
Sony is gearing up to fight a class action lawsuit in the UK, worth £2 billion ($2.5 billion).
Holi celebrations: Indian stock market to remain closed tomorrow
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain closed tomorrow (March 3), for Holi celebrations.
Why Hilton, IHG, Marriott are facing a probe in UK
The UK's Competition and Markets Authority (CMA) has launched an investigation into major hotel chains Hilton, InterContinental Hotels Group (IHG), and Marriott.
What are NABARD loans for farmers?
The National Bank for Agriculture and Rural Development (NABARD) has introduced a special loan scheme to help farmers adopt solar energy solutions.
India's factory output weakens to 4.8% in January
India's industrial output grew by 4.8% year-on-year in January, slowing down from the 7.8% growth rate recorded in December 2025.
India-bound oil supplies stop amid Strait of Hormuz shut down
Tensions involving Iran, the US, and Israel have brought ship movement through the Strait of Hormuz to a standstill.
Air India Express CEO Aloke Singh resigns after 5 years
Aloke Singh, the CEO of Air India Express, is stepping down from his position. His five-year-long tenure will officially end on March 19.
EPFO keeps interest rate unchanged at 8.25% for FY26
The Employees' Provident Fund Organisation (EPFO) has announced its decision to retain the interest rate on provident fund deposits at 8.25% for the financial year 2025-26.
Bharti Airtel's Sunil Mittal receives GSMA Lifetime Achievement Award
Sunil Bharti Mittal, the founder and chairman of Bharti Enterprises, has been awarded the prestigious GSMA Lifetime Achievement Award.
Groww introduces AI tools for retail investors
Wealth tech start-up Groww has launched its first product showcase event, Groww Next 2026, in Bengaluru.
Oil-sensitive stocks decline as Brent Crude jumps on US-Iran war
Asian Paints and JK Tyre were among the major losers in the Indian stock market on Monday. The companies' shares fell by 3% and 5.63%, respectively.
How Iran conflict threatens India's oil, trade, and energy supplies
The ongoing conflict between the US and Israel against Iran has raised new geopolitical challenges with global energy market ramifications.
India, Canada target trade worth $50B by 2030
India and Canada have set an ambitious target of boosting their bilateral trade to $50 billion by 2030.
Urban Company's shares fall below IPO price: What's the reason?
Urban Company's shares have fallen below their initial public offering (IPO) price of ₹103.
HDFC Bank will charge for UPI cash withdrawals from April
HDFC Bank has announced that it will charge customers for Unified Payment Interface (UPI) cash withdrawals at its ATMs, starting April 1, 2026.
Millions of migrant workers face safety risk amid US-Iran war
Millions of migrant workers, who are the backbone of key sectors in the Middle East, are now at risk. This comes as Iran retaliates against US-Israeli strikes.
CleanMax shares fall 18% post listing: Should you exit?
CleanMax Enviro Energy Solutions' shares have seen a massive fall of 18% after their market debut.
India AI Impact Summit secures $240B pledge from major firms
The India AI Impact Summit 2026 has witnessed a massive investment commitment of $240 billion from major players like Reliance Industries, Adani Group, Lightspeed Ventures, Google, and Tata.
US-Iran war: TCS, L&T among others with major Gulf exposure
The ongoing US-Iran war has sent shockwaves through the market, with Sensex plunging over 2,700 points at the opening on Monday.
Iranian drone strike shuts Saudi Aramco's oil refinery
Saudi Arabia's state oil giant, Aramco, has shut down its Ras Tanura oil refinery after a drone strike on Monday.
Emirates, Qatar Airways among worst-affected airlines amid US-Iran war
The escalating conflict in Iran has disrupted air travel across the Middle East, leading to the cancellation of hundreds of flights.
Akasa Air has suspended flights to these Middle Eastern destinations
Akasa Air has suspended all its flights to and from Abu Dhabi, Doha, Jeddah, Kuwait and Riyadh on March 3.
L&T aims for $1B revenue from data centers by 2030
Larsen & Toubro (L&T), India's largest engineering conglomerate, is betting big on the data center business.
TCS, Infosys suspend travel to Middle East amid US-Iran tensions
Leading Indian IT firms Tata Consultancy Services (TCS) and Infosys have suspended all travel to the Middle East.
Indian defense stocks up 15% today: Here we decode why
Shares of leading defense companies such as Bharat Electronics (BEL), Hindustan Aeronautics Limited (HAL), Tejas Networks, Paras Defence and Space Technologies, and IdeaForge Technology surged up to 15% today.
Indian airlines and travel stocks crash amid US-Iran war
Shares of Indian airlines and travel companies have witnessed a major crash on Monday, with the likes of Ixigo falling by as much as 13.5%.