Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
US judge asks Elon Musk and OpenAI to curb posts
US District Judge Yvonne Gonzalez Rogers has urged Tesla CEO Elon Musk and OpenAI executives to avoid escalating tensions via social media during their ongoing trial.
Oil rises after reports US likely to extend Iran blockade
Oil prices continued to climb due to potential extended U.S. blockade of Iranian ports, while gold remained stable as investors await Federal Reserve's comments.
Indian markets expected flat as Gift Nifty points near 24,110
Indian stocks are anticipated to start flat on Wednesday, with market volatility expected due to a weakening rupee and rising crude oil prices.
Cognizant launches innovation network to invest in enterprise software startups
IT giant Cognizant has launched the Cognizant Innovation Network, a corporate investment division aimed at supporting early to mid-stage software start-ups.
Amazon partners with OpenAI after Microsoft exclusivity deal ended
Just a day after OpenAI altered its ties with Microsoft, Amazon Web Services (AWS) swiftly moved in to launch a preview of OpenAI's models on its Bedrock platform.
ITC, Godfrey Phillips shares up by 7%: What's the reason?
Shares of ITC and Godfrey Phillips surged today after reports suggested a possible 17% hike in cigarette prices from May.
Can UAE's exit from oil cartel OPEC benefit India?
The United Arab Emirates (UAE) has announced its decision to exit the Organization of the Petroleum Exporting Countries (OPEC), effective May 1.
Why Firozabad's glass industry is facing risk of closure
The ongoing conflict in the Middle East is affecting India's "glass city," Firozabad, in Uttar Pradesh.
Oil prices hold steady as Iran US talks drag on
Oil prices remain steady as investors closely monitor the progress of peace talks with Iran, amid ongoing disruptions in the Strait of Hormuz.
Ghirardelli recalls 13 mixes after supplier milk powder salmonella risk
The Ghirardelli Chocolate Company has recalled 13 powdered beverage mixes, including hot cocoa, due to potential Salmonella contamination linked to a milk powder supplier.
Infosys wins Truist GCC over $500 million, creating 4,500 jobs
Infosys Ltd has secured a contract exceeding $500 million from Truist Financial Corp. to establish and operate a global capability centre (GCC) in Hyderabad.
Sahi raises $33 million led by Accel Global, valued at $200 million
Broking firm Sahi has raised $33 million in a funding round led by Accel Global, catapulting its valuation to approximately $200 million.
Elon Musk testified OpenAI founding followed debate with Larry Page
Elon Musk testified that he founded OpenAI as a nonprofit to counter Google, amid his high-stakes legal battle with OpenAI CEO Sam Altman.
Government and LIC revalue IDBI Bank to revive stake sale
The Indian government is reviving the strategic sale of its stake in IDBI Bank, alongside LIC's stake, after previously rejecting two bids for being below the reserve price.
Rupee falls to 94.54 per dollar as oil spikes
The Indian rupee weakened to 94.54 against the US dollar due to surging oil prices and strong dollar demand from importers.
Iran conflict could cost UK £35bn and risk 2026 recession
The UK could suffer a £35bn economic blow and potential recession due to the fallout from the Iran war, warns a leading thinktank.
U.A.E. leaves OPEC May 1 to reach 5 million bpd
The United Arab Emirates (UAE) has announced its exit from the Organisation of Petroleum Exporting Countries (OPEC), potentially impacting global oil prices.
What Elon Musk said while testifying in OpenAI trial
Elon Musk took the stand on Tuesday in the high-profile trial against Sam Altman and OpenAI.
RBI's new credit card regulations: What changes for you?
The Reserve Bank of India (RBI) has introduced a major amendment in credit card regulations.
Bandhan Bank shares hit 52-week high today: What's the reason?
Shares of Bandhan Bank surged by a whopping 12% today, hitting a 52-week high of ₹200.30.
Heat wave pushes Indian lenders to use AI for collections
Indian lenders are leveraging artificial intelligence to manage loan collections and customer acquisitions amidst expected heatwave disruptions.
Saudi Arabia, UAE boost supplies as India imports fall 15%
Saudi Arabia and the UAE are increasing crude oil supplies to India by using alternative ports that bypass the disrupted Strait of Hormuz.
SEBI proposes authorized signatories for FPI tax compliance in India
The Securities and Exchange Board of India (Sebi) has proposed a solution to the Central Board of Direct Taxes (CBDT) to ease tax compliance for foreign portfolio investors (FPIs).
India prepares legal challenge to US trade probe
The Indian government and industry representatives from textiles, auto parts, plastics, and solar sectors are set to challenge the US Trade Representative's (USTR) Section 301 investigations.
India advances Canada deal, Gulf talks paused in West Asia
India is fast-tracking a free trade agreement (FTA) with Canada, while discussions with the Gulf Cooperation Council (GCC) are on hold due to conflicts in West Asia.
Elon Musk to testify in $150B suit against Altman, OpenAI
Elon Musk is anticipated to testify this week in a $150 billion lawsuit against Sam Altman and OpenAI, marking a crucial point in AI governance.
World Bank warns Hormuz disruption could push energy costs 24%
Global energy costs are projected to reach their peak since the Ukraine invasion due to the ongoing Middle East conflict, according to the World Bank.
Musk sues Sam Altman and Greg Brockman over $130 billion
Venture capitalist Vinod Khosla reveals Elon Musk's alleged desire for control over OpenAI, leading to a fallout with Sam Altman.
Elon Musk sues OpenAI for $150B, accuses Altman and Brockman
Elon Musk, co-founder of OpenAI, has publicly criticized the company's CEO Sam Altman on social media ahead of a high-stakes trial in California.
Maruti Suzuki posts record quarterly revenue ₹50,000cr profits down 7%
Maruti Suzuki's quarterly net sales crossed the Rs 50,000-crore mark for the first time, despite a 7% drop in net profit due to higher commodity costs.
Indian government mulls cutting import taxes on raw cotton
The Indian government is contemplating reducing or eliminating customs duty on raw cotton imports to aid the local textile industry amidst rising raw material prices.
Adani monopoly concerns push Modi government to rethink airport auctions
The Indian government is mulling a cap on bids by a single entity for the privatization of 11 airports.
Spotify plunges 15% on weak profit outlook after Q1 beat
Spotify Technology's shares plummeted 15.20% after the company projected second-quarter earnings and premium subscribers below estimates, despite surpassing Q1 expectations.
Musk's SpaceX pay tied to Mars colonization, space data centers
SpaceX has revealed a unique compensation plan for its founder, Elon Musk.
Elon Musk sues OpenAI CEO Sam Altman for $134 billion
Elon Musk's courtroom battle with Sam Altman over OpenAI's direction intensifies, amid scrutiny of Musk's contentious social media posts.
Why Saudi Aramco has halted LPG deliveries until May-end
Saudi Aramco, the state-owned oil giant, has announced a suspension of liquefied petroleum gas (LPG) shipments through May.
Asian stocks slide ahead of tech earnings amid AI doubts
Asian markets opened lower today, reflecting Wall Street's tech selloff due to AI investment concerns. Concurrently, Brent crude oil halted its gains.
AdaniConneX, Airtel Nxtra build Google's $15B AI center near Vizag
Rakesh Bharti Mittal and Jeet Adani have emphasized the potential of Visakhapatnam to become a significant digital gateway in India's AI ecosystem.
SEBI proposes unified strike price system for options trading
The Securities and Exchange Board of India (SEBI) is reportedly assessing a proposal to standardize the management of options strike prices across exchanges.
Airtel plans $2B IPO for Airtel Money in London
Airtel Africa Plc is said to be considering an initial public offering (IPO) for its mobile money business, Airtel Money.
Oil prices hit $112 as US considers extending Hormuz blockade
Oil prices have witnessed a sharp rise on Wednesday, extending a multi-day rally.
Indian rupee closes at 94.54 1-month low vs US dollar
The Indian Rupee closed at a one-month low against the US Dollar, influenced by increasing crude oil prices and continued foreign investor outflows.
Prashant Bhushan urges RBI not extend Sandeep Bakhshi's ICICI tenure
Public interest lawyer, Prashant Bhushan, has petitioned the Reserve Bank of India (RBI) to not extend the tenure of Sandeep Bakhshi, CEO of ICICI Bank.
Bandhan Bank net profit jumps around 68% to ₹534.14 cr
Bandhan Bank reported a 68% year-on-year increase in its net profit to ₹534.14 crore for Q4, largely due to a significant reduction in provisions.
AI stocks fall as OpenAI misses goals before possible IPO
Shares of AI companies, including Oracle and CoreWeave, fell on Tuesday due to concerns over OpenAI's missed user and revenue goals.
UAE to leave OPEC May 1 citing strategic reasons
The United Arab Emirates (UAE) will leave OPEC on May 1, dealing a significant blow to the world's largest oil cartel amidst the ongoing Iran war.
TRAI extends deadline for comments on calls and SMS packs
TRAI has extended the deadline to May 5 for comments on a draft regulation proposing lower-priced mobile plans without data services.
US tech stocks slide as ChatGPT misses 1 billion target
US tech stocks fell as OpenAI's missed sales targets and user acquisition goals sparked concerns over AI investments, impacting partners like Oracle Corp. and CoreWeave Inc.
LTM launches BlueVerse Studio in Bengaluru to scale AI responsibly
LTM has inaugurated its BlueVerse Studio in Bengaluru, aimed at accelerating Enterprise Agentic AI adoption and driving measurable business outcomes.
UAE leaves OPEC and OPEC+ from May 1 seeking flexibility
The United Arab Emirates (UAE) has announced its departure from oil production groups OPEC and OPEC+, effective May 1, amid ongoing disputes with Saudi Arabia.
Gajendra Jangid steps back as Cars24 CMO stays with Crashfree
Gajendra Jangid, cofounder of used-car marketplace Cars24, is stepping down from his role as CMO while the company prepares for an IPO.
Financial regulators fall behind banks in AI adoption, report warns
A recent report reveals that global financial regulators are trailing banks in adopting artificial intelligence, raising oversight concerns with powerful models like Mythos.
AI links 75% of S&P 500 to decade-ahead profits
Fears over artificial intelligence (AI) disrupting long-term growth are causing U.S. stock investors to reassess their strategies, according to Goldman Sachs.
Elon Musk, Sam Altman face trial over OpenAI nonprofit conversion
Elon Musk's lawsuit against Sam Altman over OpenAI has reached trial, with jurors promising impartiality despite negative personal opinions about Musk.
UAE announces exit from OPEC and OPEC+ amid Gulf tensions
The United Arab Emirates (UAE) has withdrawn from OPEC and OPEC+, a move that could destabilize the oil exporting groups and weaken their influence on global oil prices.
Tech firms cut 45,800 jobs in March 2026 for AI
March 2026 marked a grim milestone for the tech industry with 45,800 global layoffs, the highest in two years, amid a shift towards AI investments.
Reed Hastings says humanities vital as AI grows smarter
Netflix's Chairman, Reed Hastings, predicts a renewed emphasis on Humanities in education as AI continues to evolve, amid widespread tech layoffs.
India's industrial output rose 4.1% in March 2026, below February
India's factory output growth, as indicated by the Index of Industrial Production (IIP), decelerated to 4.1% in March 2026 from 5.2% in February.
EQT-owned Virtusa plans $1B India IPO, eyes $7B valuation
Global IT services firm, Virtusa Corp, is reportedly planning an initial public offering (IPO) in India, aiming to raise over $1 billion.
DTDC and India Post partner to improve nationwide parcel deliveries
DTDC Express and India Post have signed a Memorandum of Understanding (MoU) to enhance logistics connectivity and delivery access throughout India.
LinkedIn's 2026 Top Companies in India names Infosys number 1
Infosys and Accenture lead the pack in LinkedIn's 2026 list of top companies for career growth in India, with Amazon following closely.
SpaceX ties Elon Musk paycheck to Mars city, $7.5T valuation
Elon Musk's compensation at SpaceX is now linked to ambitious goals, including establishing a human colony on Mars and operating space data centers.
Sensex drops 417 points after bank selloff over RBI rules
The Sensex and Nifty 50 experienced a significant drop on 28 April, with banking stocks leading the decline. However, mid and small-cap segments showed an upward trend.
Eternal, the company behind Zomato, posts 346% Q4 profit surge
Eternal, the parent company of Zomato, saw a 346% surge in its consolidated net profit for Q4FY26, reaching ₹174 crore. The company's revenue also increased by 196.5% to ₹17,292 crore.
ideaForge teams with Japan's DMP to build Di1 AI drones
Drone tech firm ideaForge Technology Ltd has signed an initial agreement with Japan's Digital Media Professionals Inc. (DMP) to develop next-generation Di1-powered AI drones.
Maruti Suzuki reports record ₹14,445cr net profit and ₹1.74L/cr sales
Maruti Suzuki India Limited reported a record net profit of Rs 14,445 crore for FY2025-26 and announced a dividend of Rs 140 per share.
Indian government plans ₹2.5L/cr credit guarantee for MSMEs and airlines
India is reportedly preparing a Rs 2.5 lakh crore credit guarantee scheme to support MSMEs, airlines and other sectors affected by the West Asia crisis.
India and New Zealand sign FTA expanding visas, student stays
The historic India-New Zealand free trade agreement offers Indian students extended post-study work rights and consumers access to a wider range of duty-free products.
Infineon Technologies joins India Semiconductor Mission 2.0, plans 5,000 staff
German chipmaker Infineon Technologies is accelerating its expansion in India by broadening its OSAT partnerships and exploring foundry possibilities.
BHEL board meets May 4 to review FY26 decide dividend
Bharat Heavy Electricals Ltd (BHEL) has scheduled a board meeting on 4 May, 2026, to declare its final dividend for the financial year 2025-2026.
Adani Group announces $100 billion plan for India's AI infrastructure
Adani Group has committed $100 billion to construct an AI infrastructure platform in India, aiming to support the nation's growth in artificial intelligence.
ED attaches ₹3,034cr Anil Ambani family assets amid laundering probe
The Enforcement Directorate has attached properties of industrialist Anil Ambani and his son, Jai Anshul Ambani, amid a bank fraud investigation against Reliance Communications.
Bitcoin slips to $76,900 as experts cite global uncertainty
Bitcoin's price fell below $77,000 due to rising macroeconomic uncertainty and profit booking, reflecting a cautious sentiment in the broader cryptocurrency market.
UAE quits oil cartel OPEC after 6 decades
The United Arab Emirates (UAE) has quit the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, ending a nearly six-decade-long membership.
Maker of Parle-G biscuits is planning an IPO in India
Parle Products, the Mumbai-based company behind the iconic Parle-G biscuits, is said to be considering an initial public offering (IPO).
Worrying: OpenAI has missed its user and revenue targets
OpenAI, the company behind ChatGPT, has missed its user and revenue targets in recent months.
Credit guarantee scheme worth ₹2.5L crore will support these sectors
The Indian government is working on a massive ₹2.5 lakh crore credit guarantee scheme to support sectors like aviation and micro, small, and medium enterprises (MSMEs).
Love traveling? This job at Anthropic might be for you
Anthropic, a leading artificial intelligence (AI) company, is offering a whopping salary of up to $400,000 for a new position.
AU Small Finance Bank will become a full-fledged bank soon
AU Small Finance Bank has filed its final application for a universal banking license with the Reserve Bank of India (RBI).
What are the most common loan types in India?
Navigating the world of loans can be tricky, especially in a diverse economy like India.
PPF or FD: Which has a lower minimum contribution?
Public Provident Fund (PPF) and Fixed Deposits (FDs) are two popular investment options in India.
Debt mutual funds: What they are actually
Investing in debt mutual funds can be a smart way to diversify your portfolio and manage risk.
Aviation stocks slip 5% as rising fuel prices hit margins
Shares of InterGlobe Aviation (IndiGo) and SpiceJet witnessed a steep fall on Tuesday.
Worrying: Over 30% of India's industrial goods come from China
India is heavily dependent on China for its industrial goods, with the latter accounting for a whopping 30.8% of the country's requirements, think tank Global Trade Research Initiative (GTRI) revealed.
World's largest battery manufacturer raises $5B through share sale
Contemporary Amperex Technology Co. Ltd. (CATL), the world's largest battery manufacturer, has raised a whopping $5 billion through a Hong Kong share placement.
India's fertilizer subsidy bill may jump 20%: Here's why
India's fertilizer subsidy bill is likely to witness a 20% increase in the current fiscal year.
Flipkart now offers biometric authentication for Axis Bank card payments
In a major development, Flipkart has teamed up with Axis Bank and PayU to introduce biometric authentication for card payments on its platform.
8th Pay Commission talks start today: What's on agenda?
The 8th Central Pay Commission (CPC) will hold a crucial three-day meeting with employee unions and associations in New Delhi, starting today.
India's growth stable, informal sector hit by US-Iran war: Survey
A recent Reuters poll of economists has shown that while India's growth outlook remains stable, the ongoing US-Israeli war with Iran is severely impacting the country's informal economy.
How a $500 Adidas shoe helped set a marathon record
Kenyan runner Sabastian Sawe made history by becoming the first person to officially break the two-hour marathon barrier.
Home services start-up Snabbit raises $56M at $350M valuation
Indian on-demand home services start-up Snabbit has raised $56 million in a Series D funding round. It now values the company at around $350 million.
Government bank stocks down by 3% today: What's the reason?
Public sector bank stocks witnessed a major fall today, with Bank of India and Bank of Baroda leading the decline at 3% each.
Noida International Airport might let you fly from June
The Bureau of Civil Aviation Security (BCAS) has approved the Aerodrome Security Programme (ASP) for the upcoming international airport in Noida.
How Meta plans to undo its $2.5B Manus acquisition
Meta is preparing to reverse its acquisition of AI start-up Manus after the Chinese government blocked the deal on national security grounds, The Wall Street Journal reported.
Brent crude nears $110 as US considers Iran's peace proposal
Brent crude oil prices have reached near $110 per barrel. This comes as the US considers Iran's latest proposal to end the ongoing conflict in West Asia.
Start-up building self-learning AI raises record $1.1B seed
Ineffable Intelligence, a start-up founded by David Silver, a former lead researcher at Google's DeepMind, has raised $1.1 billion in seed funding.
Musk v/s Altman: AI's biggest feud enters courtroom
A high-profile legal battle between tech moguls Elon Musk and Sam Altman is about to begin in a US court.
Secured loans: What they are actually
Secured loans are a common financial tool, allowing borrowers to use an asset as collateral.
OpenAI and Microsoft amend their partnership: What has changed?
OpenAI and Microsoft have announced a major overhaul of their partnership agreement.
Why Rolls-Royce inked a ₹3,800cr deal with this Hyderabad-based company
Hyderabad-based Sigma Advanced Systems has signed a seven-year-long deal with Rolls-Royce, worth ₹3,800 crore. The partnership is aimed at manufacturing and supplying aerospace systems.
NVIDIA leases office space in Bengaluru for ₹1,230cr
NVIDIA has signed a major lease deal for office space in Bengaluru, according to real estate data analysis platform Propstack.
Why MakeMyTrip has joined hands with Adani Airport Holdings
Adani Airport Holdings Limited and MakeMyTrip have joined forces to launch a new online duty-free, pre-booking service for international travelers.
Infrastructure bonds: All about this investment option
Investing in Indian infrastructure bonds can be a smart move for those looking to diversify their portfolio.
Your ice creams could get costlier this summer: Here's why
The ongoing conflict in West Asia is disrupting supply chains and pushing up the prices of key ingredients like dry fruits and nuts. These are essential for flavoring a wide range of ice creams and chocolates.
8th Pay Commission consults on pay, pensions; final decisions awaited
The 8th Central Pay Commission (CPC) is currently in a critical phase of consultations and discussions.
Indian government takes major step for jewelry sector
The Indian government has expanded the SEZ Rules, 2006, to include jewelry in Free Trade Warehousing Zones (FTWZ).
Eli Lilly bets on blood cancer drugs with $2.3B deal
Eli Lilly, a leading pharmaceutical company, has announced its plan to acquire Ajax Therapeutics for up to $2.3 billion in cash.
US budget airlines seek $2.5B bailout amid fuel crisis
A group of US-based budget airlines, including Avelo Airlines and Frontier Airlines, are seeking $2.5 billion in federal financial aid, according to The Wall Street Journal.
How Ganga Expressway could reshape Uttar Pradesh's economy
Prime Minister Narendra Modi will inaugurate the Ganga Expressway on April 29.
How Trump's 123% duty will hurt India's solar industry
The United States has moved to impose a hefty 123.04% preliminary anti-dumping duty on solar cell and module imports from India.
'Come back home': Zoho founder calls on Indians in US
Sridhar Vembu, the founder of Zoho, has urged Indians living in the US to consider returning home.
MobiKwik bags RBI nod for NBFC license: Why it matters
Fintech giant MobiKwik has received approval for a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI).
JioHotstar hits ₹31,000cr revenue on sports, ads boom
Reliance Industries' media business, JioHotstar, has witnessed a massive surge in its financial performance for the fiscal year 2025-26.
Kissht IPO opens April 30, aims to raise ₹930cr
Digital lending platform Kissht has announced its initial public offering (IPO) on April 30.
Why Meta's $2B Manus acquisition has been blocked by China
China has blocked US tech giant Meta's acquisition of Chinese artificial intelligence (AI) start-up Manus.
You can order from Amazon Now in 100 Indian cities
Amazon has announced the expansion of its ultra-fast delivery service, Amazon Now, to 100 cities in India.
Why UBS downgraded IndiGo's stock from 'buy' to 'neutral'
UBS has downgraded IndiGo parent InterGlobe Aviation's stock rating from "buy" to "neutral," and reduced its target price from ₹5,480 to ₹4,940. The move comes amid rising challenges in the aviation sector.
You can soon ride SkyHop Aviation's seaplane in India
SkyHop Aviation has received the Air Operator Certificate (AOC) from the Directorate General of Civil Aviation (DGCA), paving the way for commercial seaplane services in India.
Bitcoin hits 3-month high today: Here we decode why
Bitcoin continued its slow climb toward the $80,000 mark today.
AI is impacting entry-level job market, says ex-Meta executive
Clara Shih, a former executive at Meta and Salesforce, has warned that artificial intelligence (AI) is making it harder for new graduates to find jobs.
Axis Bank cuts 3,100 jobs even as branch expansion accelerates
Axis Bank has announced a reduction of its workforce by 3,100 employees over the last one year.
India, New Zealand finally ink a free trade agreement
India and New Zealand have signed a landmark Free Trade Agreement (FTA), marking a major milestone in their economic relationship.
Acko heads for IPO with $2.5B valuation goal
Acko, a leading insurance start-up based in Bengaluru, has appointed ICICI Securities, Morgan Stanley and Kotak Securities as the book-running lead managers for its initial public offering (IPO).