Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Magnetar Capital managing $18 billion plans fund using AI bots
Magnetar Capital plans to launch an AI-powered investment fund, replacing traditional analyst teams with hundreds of bots to analyze stocks and generate recommendations.
CBI charges over 657cr scam connected to IDFC First Bank
The CBI has filed two chargesheets detailing ₹657 crore misappropriation involving IDFC First Bank, Haryana government, and Chandigarh Smart City Limited, naming multiple accused.
Indian banks target $50 billion NRI deposits offering up-to 7.1%
Indian banks are targeting the affluent diaspora with guaranteed returns of up to 7.1% on dollar deposits, aiming to bolster foreign exchange reserves and stabilize the rupee.
RBI policy changes could attract up to $50 billion FY27
Motilal Oswal Financial Services projects $40–50 billion in foreign currency inflows by FY27, driven by RBI's initiatives like FCNR(B) deposits and ECB concessions.
Trade ties key to India's $30 trillion goal: Piyush Goyal
Piyush Goyal, Union Minister of Commerce and Industry, has said that India must strengthen its international trade relations to achieve the ambitious goal of becoming a $30 trillion economy by 2047.
Sensex jumps 1,695 points while Nifty gains on U.S.-Iran talks
Indian markets surged as the Nifty crossed 23,600 and Sensex jumped 1,695 points, driven by easing crude prices, a stronger rupee, and Middle East peace progress.
Sensex closes 1,700 points higher: What drove today's rally?
The Indian stock market witnessed a massive surge on Friday, with the Sensex and Nifty gaining 2% each.
Centre waives customs duties on nuclear power equipment imports
The Indian government has announced a retrospective waiver of customs duties on certain nuclear power generation equipment imported between April 1, 2019 and January 31, 2026.
India's AI data center market may hit $280B by 2035
India's data center industry is set for unprecedented growth, with the artificial intelligence (AI) boom projected to create a $280-billion ecosystem opportunity by 2035.
Prestige Estates aims ₹60,000 cr sales, Irfan Razack says ready
Prestige Estates aims for ₹60,000 crore in sales this fiscal year, leveraging nationwide project launches pending regulatory approvals, according to Chairman Irfan Razack.
ESAF Small Finance Bank crosses ₹50,000 cr total business milestone
ESAF Small Finance Bank's total business surpassed ₹50,000 crore as of June 11, 2026, with deposits at ₹26,197 crore and gross advances at ₹23,832 crore.
Indian markets rally with Sensex 75,490.89 and Nifty 23,603.25
Indian equity markets surged on Friday as Sensex jumped 1,658 points and Nifty reclaimed 23,600, driven by easing Iran conflict concerns and a sharp drop in crude oil prices.
LTM launches AI 1000 program to train over 1,000 engineers
LTM has introduced AI 1000, a programme to develop over 1,000 AI-certified engineers, including forward deployed engineers (FDEs), supported by a dedicated Centre of Excellence.
Cognizant removed from Nasdaq-100 June 22, 2026 amid AI shift
Cognizant will be removed from the Nasdaq-100 Index on June 22, marking its first exclusion in over two decades amid rising AI-driven market shifts and industry challenges.
Sensex and Nifty jump after Iran US agreement news
The Sensex surged over 1,250 points and Nifty reclaimed 23,500 as financial stocks led gains following reports of a landmark Iran-US deal easing geopolitical tensions.
TCS opens India's 1st Oracle AI Data Platform Lab, Kolkata
TCS inaugurated India's first Oracle AI Data Platform Lab in Kolkata, aiming to accelerate enterprise adoption of AI and data-driven transformation at scale.
Singapore High Court stays BYJU'S Raveendran 6-month jail sentence
The Singapore High Court has temporarily stayed Byju Raveendran's six-month jail sentence in a civil contempt case, allowing the entrepreneur to appeal the verdict.
Morgan Stanley warns AI could slow India IT services exports
Artificial intelligence threatens India's services-export-led growth, warns Morgan Stanley, urging a shift towards manufacturing to sustain employment and economic stability.
Bitcoin steadies near $63,220 as US producer inflation jumps 6.5%
Bitcoin traded near $63,220 as cautious market sentiment persisted, driven by rising oil prices and inflation fears ahead of the US Federal Reserve's policy decision.
Dhan launches India-regulated direct access to US stocks for Indians
Dhan introduces a fully regulated platform for investing in US stocks, operating under India's regulatory framework via GIFT City, offering access to over 7,000 stocks and ETFs.
City Union Bank shares fall 23% after 1-for-3 bonus issue
City Union Bank shares appeared to plunge 23% on June 12 due to a technical adjustment from its 1:3 bonus issue, not an actual market decline.
Global markets rise after Trump shares Iran peace talks news
Global stocks rallied on Friday following Wall Street gains, while oil prices dropped after US President Trump announced progress in talks to end the Iran war.
Oil prices hit 2-month low on hopes of US-Iran deal
Oil prices have plummeted to a two-month low, following US President Donald Trump's announcement of a potential peace deal with Iran.
SpaceX biggest-ever IPO prompts investor concern over Elon Musk's control
Sustainability-focused fund managers are blacklisting SpaceX, citing its unprecedented governance structure that heavily favors Elon Musk's control.
Vik Bajaj leads Prometheus building artificial general engineer, $12B raised
Vik Bajaj, an MIT-trained scientist and entrepreneur, co-founded Prometheus with Jeff Bezos. Previously, he led Google's life sciences unit and incubated startups at Foresite Labs.
US wholesale inflation hits 6.5%, highest since 2022
US wholesale inflation has surged to its highest level since November 2022, mainly due to rising energy costs amid the ongoing Iran war.
Tryfacta files $100 million to $150 million IPO in Gujarat's GIFT City
Tryfacta Inc, a California-based workforce solutions firm, plans a $100-150 million IPO at GIFT City, becoming the first US-headquartered company to list equity shares in India.
Bharat Forge joins global chip equipment makers amid AI demand
Bharat Forge partners with ASML to supply specialised metal parts for semiconductor equipment, aligning with India's semiconductor and AI growth ambitions.
Gurugram's Omli raises $1.5 million for OmliKids AI buddy Doro
Gurugram-based Omli, focused on AI for children's speech development, has secured $1.5 million in seed funding led by India Quotient with participation from General Catalyst.
Tunga Aerospace emerges as L1 in ITBP 78-UAVs ₹21.82cr bid
Tunga Aerospace, an IIT Madras-incubated startup, emerged as the lowest bidder for ITBP's Rs 21.82 crore UAV tender, surpassing major players like Adani Defence.
Carl Pei says memory chips drive global smartphone price increases
Smartphone prices are climbing as memory chip costs surge, warns Nothing CEO Carl Pei, highlighting a global trend impacting budget and premium devices alike.
India to remain fastest-growing major economy in FY27: World Bank
India is set to remain the world's fastest-growing major economy, with a growth rate of 6.6% in the fiscal year 2026-27, a sharp decline from last year's 7.7%, according to a World Bank report.
SpaceX raises $2.2B from Japanese investors in historic IPO
SpaceX secured $2.2 billion from Japanese investors, reserving 3% of its Class A shares, marking Japan's largest IPO since JX Advanced Metals Corp.’s debut last year.
India hikes cancer drug prices by 50% amid shortages
India's National Pharmaceutical Pricing Authority (NPPA) has approved a 50% price hike for two critical anti-cancer drugs - carboplatin and cisplatin.
Deel Global Talent Map finds India leads skilled visa migration
India dominates global skilled migration, topping major visa programs as per Deel's report, driven by rising demand for specialized talent worldwide.
Cerebras CEO Andrew Feldman: data center builders ignored local communities
Cerebras CEO Andrew Feldman, whose company launched 2026's largest US IPO, blames data center builders for community backlash, citing poor communication and resource mismanagement.
Equal AI closes $30 million to scale voice AI in India
Equal AI raised $30 million in a Series B round co-led by Prosus Ventures and Tomales Bay Capital, aiming to expand its consumer-focused voice AI offerings in India.
Spinny plans up to $300 million IPO for used-car listing
Used-car platform Spinny is gearing up for a $250-300 million IPO, aiming to leverage India's booming organized pre-owned vehicle market and fund its expansion plans.
NVIDIA CEO Jensen Huang rejects blaming AI for layoffs
NVIDIA's Jensen Huang criticizes CEOs for blaming layoffs on AI, calling it a lazy and dishonest narrative, as many redundancies predate AI's transformative capabilities.
MTAR Technologies stock rebounds 13% on Friday after Wyoming update
MTAR Technologies shares surged over 13% on Friday, recovering from a steep decline, as reports confirmed the Wyoming data centre project remains on track.
UK economy shrinks 0.1% in April amid Iran war disruptions
The UK economy shrank by 0.1% in April as the Iran war disrupted global trade, with energy prices surging after the Strait of Hormuz was closed.
IG International shows SpaceX IPO implied valuation at $2.4 trillion
SpaceX's pre-IPO derivatives signal a valuation surge to $2.4 trillion, reflecting strong investor appetite for the AI and space infrastructure giant ahead of its public debut.
Elon Musk set to become 1st trillionaire, suggests moneyless future
Elon Musk, poised to become the first trillionaire, envisions a future where AI and robots render money obsolete, shifting value to energy, resources, and universal high income.
Google, Meta commit $300 million to US trades training for AI
Google and Meta are investing $300 million in skilled trades training to address a labour shortage critical for building data centres powering the rapidly growing AI industry.
Jeff Bezos's AI start-up raises $12B at $41B valuation
Prometheus, a physical artificial intelligence (AI) start-up co-founded by Jeff Bezos and Vik Bajaj, has raised $12 billion in its second funding round.
BSE CEO Sundararaman Ramamurthy: tech, rules have made markets safer
BSE CEO Sundararaman Ramamurthy emphasizes trust, technology, and inclusivity while advocating for youth energy and women's stability in India's markets.
Rupee gains 65 paise to 95.20 after oil prices fall
The rupee surged 65 paise to 95.20 against the US dollar, buoyed by falling crude oil prices and optimism over a potential US-Iran peace deal.
Musk set to become world's 1st trillionaire after SpaceX IPO
Elon Musk, the tech mogul behind Tesla and SpaceX, is on the verge of becoming the world's first trillionaire.
Genxai Analytics shares debut 20% below IPO amid 17x bids
Genxai Analytics shares debuted at ₹92.80 on NSE SME, marking a 20% drop from the IPO price of ₹116, despite the IPO being subscribed 16.99 times overall.
Flair Writing targets mid-teen growth, 18% margins, raises prices 5%
Flair Writing Industries targets mid-teen revenue growth in FY27 while maintaining 18% operating margins, despite rising raw material costs and market competition.
Equal AI raises $30 million to upgrade India call screening app
Equal AI, an Indian startup, raised $30M in Series B funding to expand its AI-powered call screening app, which helps users manage calls and identify caller intent efficiently.
Sensex gains nearly 1,000 points amid US-Iran peace hopes
India's benchmark indices witnessed a major surge in early trade on Friday. The BSE Sensex soared by nearly 1,000 points while the NSE Nifty 50 breached the 23,450 mark.
Sensex jumps 873.88 points and Nifty rises as oil falls
The Sensex soared over 800 points as easing US-Iran tensions led to a sharp drop in crude oil prices, boosting investor confidence and improving market sentiment.
Why global investors are ignoring India in favor of AI
Global AI fund inflows are surging, with technology and telecom sectors benefiting, but India's investment case weakens as it lags in driving AI advancements.
ECB raises interest rates for first time since 2023
The European Central Bank (ECB) has raised its benchmark interest rate by a quarter point to 2.25%.
Blue Origin New Glenn explodes in Cape Canaveral ground test
Jeff Bezos described the New Glenn rocket explosion during a ground test as a tough moment for Blue Origin but remains optimistic about resuming flights by late 2026.
South Korea's Kospi index surges 8% on US-Iran peace hopes
South Korea's benchmark Kospi Index has witnessed a massive surge of 8% in early trading today.
Indian markets surge as West Asia peace hopes lift stocks
Indian stock markets surged with Nifty rising 272 points and Sensex over 950 points, while the rupee gained 0.5%, driven by optimism around a potential US-Iran peace accord.
Gold, silver up on India MCX amid US-Iran peace hopes
Gold prices on MCX surged above ₹1.5 lakh per 10 grams, while silver rates rose over 1%, driven by optimism surrounding a potential US-Iran peace agreement.
Gold, silver prices jump up to 4%
Gold and silver prices surged on Friday, driven by persistent inflation and ongoing global tensions.
Rupee opens 39 paise higher at 95.37 against US dollar
The Indian rupee strengthened by 39 paise to 95.37 per dollar on June 12, driven by falling global crude oil prices and improved market sentiment.
SpaceX raises record $75B in world's biggest IPO
SpaceX, Elon Musk's space and AI conglomerate, has officially priced its shares at $135 each.
Indian rupee opens at 95.41 after Trump remarks on Iran
The Indian rupee appreciated 44 paise to 95.41 against the US dollar, driven by falling crude prices after US President Trump hinted at an imminent peace deal with Iran.
Indian rupee rises 37 paise to 95.38 per US dollar
The Indian rupee opened 37 paise higher at 95.38 per dollar after U.S. President Donald Trump hinted at a potential deal with Iran, easing crude price pressures.
India aims for $30 trillion economy by 2047, Piyush Goyal
Union Minister Piyush Goyal emphasized that expanding global partnerships is crucial for India to achieve its $30 trillion economy goal by 2047.
SBI Mutual Fund buys 3.8% in Vintage Coffee and Beverages
SBI Funds Management acquired a 3.8% stake in Vintage Coffee and Beverages Ltd. through block deals worth ₹86 crore, signaling interest in the coffee exporter.
Microsoft CEO Satya Nadella: AI could boost wages, share wealth
Satya Nadella acknowledged growing AI backlash but emphasized its potential to boost wages and create shared prosperity during a live interview in San Francisco.
Gold and silver fall on US inflation, Fed rate worries
Gold prices are heading for a 2.8% weekly drop as persistent inflation pressures and rising crude oil prices fuel expectations of further US Federal Reserve interest rate hikes.
Bangladesh unveils 9.38 trillion taka budget aiming to boost GDP
Bangladesh has announced a $77 billion budget for FY27, aiming for 6.5% growth and reduced inflation despite a Moody’s downgrade and ongoing economic pressures.
Rene Mayrhofer leaves Google over US DoD AI partnership
René Mayrhofer, a senior Google director, has resigned, citing the company's collaboration with the US Department of Defense and abandonment of environmental goals for AI.
Gold and silver surge amid inflation and global tensions
Gold rebounded 2% to $4,204.40 per ounce, while silver surged 4.3% to $66.77, driven by inflationary pressures, interest rate expectations, and geopolitical uncertainties.
NVIDIA names Bruce Andrews affairs chief amid US export curbs
Nvidia has appointed Bruce Andrews as Chief External Affairs Officer to lead its government affairs in Washington, D.C., amid growing scrutiny over its ties to China.
INVasset's Anirudh Garg says AI trading slowing, India IT impacted
Anirudh Garg, Partner at INVasset PMS, highlights early signs of fatigue in the global AI trade and warns of structural challenges facing India's traditional IT services sector.
Leveraged AI ETFs dominate SK Hynix trading in South Korea
Leveraged ETFs tied to SK Hynix now dominate trading volumes, accounting for up to 70%, amplifying stock volatility through rebalancing and heightened derivatives activity.
Kospi jumps 8% on US Iran peace buzz, trades paused
South Korea's Kospi Index soared 8% as hopes for a US-Iran agreement boosted risk appetite, with chipmakers Samsung and SK Hynix leading gains amid AI-driven demand.
Japan Nikkei jumps 4% after President Trump cancels Iran strike
Japan's Nikkei surged over 4% as U.S. President Trump canceled strikes on Iran, boosting investor optimism. Technology shares, led by chipmakers, drove the rally.
Appeals court keeps President Trump's 10% tariff for 3 importers
A U.S. appeals court upheld the 10% global tariff for three importers, overriding a lower court's decision. The tariffs, imposed under Section 122, may expire in July.
EY opens EY.ai center in Bengaluru during $1.4B AI push
EY CEO Janet Truncale highlights India’s pivotal role in the firm’s global AI strategy, driven by its tech-savvy workforce and the launch of the EY.ai Centre in Bengaluru.
Hindustan Unilever and rivals hike FMCG prices 4% to 11%
FMCG companies, including HUL and Colgate-Palmolive, are raising prices by 4-11% due to higher crude prices, freight costs, and commodity inflation triggered by global conflicts.
Indian banks rush to meet RBI June 30 AI deadline
Indian banks are collaborating with top consultancy firms like EY and BCG to address AI-driven cyber threats and meet RBI's cybersecurity review deadline by June-end.
US appeals court allows Trump administration 10% global tariff
A federal appeals court upheld the Trump administration's 10% global tariff, citing likely legal success, but the case may ultimately be decided by the Supreme Court.
SpaceX plans $75B IPO by selling 555.6 million shares at $135
Retail investors have placed over $70 billion in orders for SpaceX’s record-breaking $75 billion IPO, with at least 20% of shares expected to be allocated to them.
Tata Sons board meets June 12 to finalize accounts, dividend
The Tata Sons board convenes today to approve FY25-26 accounts and dividends, while key governance issues like Chairman Chandrasekaran’s tenure extension remain off the agenda.
US Securities and Exchange Commission seeks to drop trade-through rule
The SEC has proposed rescinding the trade-through rule, which ensures investors receive the best prices, citing market complexity and costs as key concerns driving the decision.
States urge Nasdaq and FTSE Russell to rethink SpaceX entry
Officials from four states urged Nasdaq and FTSE Russell to pause rule changes favoring SpaceX, citing risks to investors and passive funds due to its $75 billion valuation.
US becomes India's top LNG and LPG supplier
The United States has overtaken Gulf countries to become India's top supplier of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) in May.
India, Nepal launch UPI-based cross-border remittance system
India and Nepal have launched a new cross-border remittance system, the Unified Payments Interface (UPI)-National Payments Interface (NPI).
Gold prices at 6-month low: Good time to buy?
Gold prices have plunged to a six-month low as high oil prices fuel inflation concerns and strengthen expectations of prolonged high interest rates in the US.
Airtel, Vi launch services on Mumbai Metro after months-long dispute
Telecom giants Bharti Airtel and Vodafone Idea (Vi) have launched their mobile network services on the underground sections of Mumbai Metro's Aqua Line.
Wipro's buyback offers 37% premium, but there's a catch
Wipro has launched its ₹15,000 crore share buyback program today.
Reliance, Adani join India's push to cut China rare-earth dependence
Reliance Industries, Vedanta and Adani Group are among 10 companies interested in setting up rare-earth processing plants in Andhra Pradesh, according to Reuters.
Mamaearth parent hits 52-week high, stock jumps 77%
Honasa Consumer, the parent company of popular personal care brand Mamaearth, has seen its shares hit a new 52-week high of ₹438 per share.
Anti-NVIDIA data center start-up reaches $1.5B valuation
In a major development, TensorWave, an AI-focused cloud computing start-up, has raised $350 million in its Series B funding round.
Rajesh Exports shares hit lower circuit for 6th straight session
Rajesh Exports, one of India's leading gold refiners, has seen its share price plummet by nearly 27% since the Securities and Exchange Board of India (SEBI) issued an interim order on June 3.
NCLT accepts SBI's plea to initiate Anil Ambani's personal bankruptcy
The National Company Law Tribunal (NCLT) in Mumbai has accepted a plea from the State Bank of India (SBI) to initiate personal insolvency proceedings against industrialist Anil Ambani.
TCS rethinks small-town office expansion after Nashik harassment case
Tata Consultancy Services (TCS) is rethinking its strategy to open offices in smaller towns and cities.
Jon Prosser may get another chance to fight Apple's lawsuit
Apple and Jon Prosser's attorney have jointly requested the court to vacate a default judgment entered against him last October.
Ubisoft shuts more studios, lays off employees amid ongoing restructuring
Ubisoft, the renowned video game publisher, is undergoing another round of restructuring and layoffs. The company has decided to shut down its studios in Winnipeg and Belgrade, according to The Game Business.
India's 6G push centers on homegrown tech, patent creation
The Indian government is gearing up to start talks on a roadmap for the country's transition to sixth-generation (6G) mobile communications.
Nifty IT crashes over 2%; HCL, Infosys lead fall
The Nifty IT index, a key indicator of India's information technology sector, has witnessed a major crash today.
Anthropic to provide Claude AI access to 50,000 TCS employees
Tata Consultancy Services (TCS) has announced a global strategic partnership with artificial intelligence (AI) company Anthropic.
ShinyHunters hacked Oracle servers at over 100 organizations
The notorious cybercrime group, ShinyHunters, has claimed responsibility for breaching Oracle's PeopleSoft servers at over 100 organizations. The victims include a number of universities.
Trump says he 'loves inflation' as prices hit 3-year high
US President Donald Trump has said "I love the inflation," after consumer prices surged by 4.2% in May, the highest since April 2023.
Gold prices hit 6-month low
Gold prices have plunged to a six-month low, following fresh US military strikes on Iran.
Sam Altman-backed Opendoor exits India, lays off 250 employees
US-based real estate technology company Opendoor has announced its decision to shut down operations in India. The closure will affect nearly 250 employees working for the company in the country.
Centre waives excise duty on ethanol-blended petrol
The Indian government has waived the excise duty on certain types of ethanol-blended petrol. The exemption applies to E22, E25, E27 and E30 fuel blends.