Business News
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India's rupee gains 4th day as US Fed holds rates
The rupee opened 6 paise higher at Rs 95.59 per dollar, as markets reacted to the US Federal Reserve's steady interest rates and dissenting views on a potential hike.
Meta profits fall 14% as AI spending increases costs
Meta reported a 14% decline in profit to $18.3 billion for Q2, as rising AI-related expenses drove costs up 55%, outpacing its 28% revenue growth.
Microsoft posts $331B fiscal 2026 revenue, cloud $214B, Azure $100B
Microsoft reported a record annual revenue of $331 billion, with its cloud business contributing $214 billion, as CEO Satya Nadella announced plans for an AI super app.
Samsung reports $61.7B semiconductor profit, warns shortage amid AI demand
Samsung anticipates worsening chip shortages through 2028, boosting shares by 8% after revealing robust long-term supply agreements with major tech firms.
Japan cuts 2026 growth forecast to 0.9% as oil climbs
Japan revised its fiscal 2026 growth forecast to 0.9% from 1.3%, citing higher oil prices and weaker domestic demand, while inflation expectations rose to 2.2%.
CBI names 4 in PNB fraud linked to Mehul Choksi
The CBI has named four more accused, including a former PNB auditor, in the ₹13,578 crore fraud involving fugitive diamantaire Mehul Choksi. A special court has taken cognisance.
Primetrace nears $50 million from 360 One Asset at $500 million valuation
Kutumb, a social media platform under Primetrace, is in advanced discussions to raise $50 million at a $500 million valuation, aiming to expand its AI-driven product offerings.
Federal Reserve keeps interest rate at 3.6% despite Trump pressure
President Trump defended Federal Reserve Chair Kevin Warsh after the Fed maintained interest rates, despite inflation concerns and dissent from three officials.
SpaceX wins $1.6B Space Force contract to launch 18 Falcon9s
SpaceX has been awarded an $1.6 billion U.S. Space Force contract for 18 Falcon 9 missions through 2027, further solidifying its dominance in military space launches.
Pentagon awards $135B contracts to ease shortages amid Iran war
The Pentagon announced $135 billion in multiyear contracts, boosting arms production as Middle East conflicts strain US weapon stockpiles and capabilities.
India moves quickly on SAF policy to meet CORSIA
India is expediting its sustainable aviation fuel (SAF) policy, with inter-ministerial consultations underway, to ensure compliance with ICAO's CORSIA rules by January 2027.
Boeing: Air Force One overruns top $3B, $280 million loss reported
Boeing faces over $3 billion in cost overruns for two new Air Force One planes, with delays pushing delivery to 2028 and 2029, nearly three years behind schedule.
Chamath Palihapitiya cites Infosys forecast cut as AI reshapes outsourcing
Enterprises are shifting budgets from traditional outsourcing to AI-driven software development, says 8090 CEO Chamath Palihapitiya, citing Infosys' lowered revenue forecast.
Goldman Sachs: GenAI could reshape work in India next decade
GenAI is set to automate 9-17% of non-agricultural tasks in India, while GCCs are expected to mitigate job losses by driving employment growth in the technology sector.
Lohia Corp to debut Thursday with IPO expected near ₹444
Lohia Corp's IPO, backed by strong financials and healthy subscriptions, debuts on BSE and NSE today. Grey Market Premium (GMP) suggests a modest 4.5%-5% listing gain.
Samsung semiconductor profits surge over 250-fold as revenue rises 130%
Samsung's semiconductor profit skyrocketed over 250-fold in Q2, driven by strong AI chip demand, while rising memory prices led its mobile division to a 700 billion won loss.
Microsoft locked in over $130B data center leases, commitments $329.1B
Microsoft has reported over $130 billion in new data center leases last quarter, reflecting its confidence in sustained AI-driven cloud computing demand for years to come.
Microsoft reports $90B quarter with Azure revenue up 43%
Microsoft's Azure cloud revenue surged 43% in Q4, marking its fastest growth since 2022 and pushing annual sales past $100 billion for the first time.
Sony moves to fully acquire Tamron to boost imaging business
Sony has proposed acquiring Tamron, a Japanese lens maker supplying Nikon and Canon. Tamron's board is reviewing the non-binding offer to make it a wholly owned subsidiary.
KPMG Australia says no decision yet on 1,000 layoffs
KPMG Australia stated no decisions have been made regarding workforce reductions, following reports of potential 1,000 job cuts amid scrutiny over an audit misconduct scandal.
Oil prices slip as shipping moves on amid conflict
Oil prices fell as tankers navigated conflict zones in West Asia, with Brent futures dropping 1.42% and WTI crude declining 0.66% amidst escalating regional hostilities.
Meta AI bets and legal costs slash free cash flow
Meta's free cash flow plummeted to $784 million last quarter, while mounting legal battles and doubts over AI investments cast shadows on its future.
Federal Reserve chair Kevin Warsh faces 3 FOMC dissents
Kevin Warsh encountered three dissents in his second Federal Open Market Committee meeting, marking the most significant early opposition for a Federal Reserve chair since 1970.
US Army awards Lockheed Martin up to $58.6B Patriot deal
The US Army has awarded Lockheed Martin a $58.6 billion contract to expand Patriot missile production through 2032, addressing strained arsenals amid conflicts in Iran and Ukraine.
Cognizant CEO Ravi Kumar reports surge in agentic AI demand
Cognizant CEO Ravi Kumar highlights a surge in productivity-driven large deals alongside growing demand for agentic AI, which is fueling niche, innovative projects.
Tata Capital, Godrej Finance make major India gold loan acquisitions
India's gold loan market sees consolidation as Tata Capital and Godrej Capital acquire regional NBFCs, leveraging soaring gold prices and changing borrower behavior.
Bengaluru startup Pronto launches Verified with head mounted worker cameras
Bengaluru-based startup Pronto is scaling its optional Verified service, where workers wear cameras to collect anonymized data for training robotics-focused AI systems.
Wall Street dives with Dow's biggest fall since April 2025
Wall Street plunged as the Dow Jones dropped 1,100 points, its worst since April 2025, after the Fed's rate decision fueled inflation fears and sent bond yields soaring.
Federal Reserve holds rate at 3.5% to 3.75%, inflation persists
The US Federal Reserve maintained interest rates at 3.5%-3.75% on July 29, potentially easing foreign outflows and stabilizing the rupee amid inflation concerns.
Qualcomm to raise prices on all processors September 1, 2026
Qualcomm will increase processor prices by double-digit percentages beginning September 1st, following a 20% year-over-year drop in handset revenue due to supply constraints.
Xbox reports 10% content revenue drop while Microsoft hits $90B
Xbox content and services revenue fell 10 percent, while Microsoft’s cloud business surged 27 percent, driving overall company revenue to $90 billion in the fourth quarter.
Meta stock falls nearly 8% after Q2 2026 profit miss
Meta's Q2 earnings fell short of Wall Street expectations, with shares dropping nearly 8%, as CEO Mark Zuckerberg's AI-focused media campaign failed to reassure investors.
Federal Reserve keeps rates at 3.5% to 3.75%, 9-to-three split
The Federal Reserve's 9-3 vote to hold rates steady at 3.5%-3.75% marks its largest policy split since 2016, as three officials pushed for a 25 bps hike.
Gold and silver rise after US Federal Reserve holds rates
Gold and silver prices surged on Wednesday as the U.S. Federal Reserve held interest rates steady, weakening the dollar and boosting demand for precious metals.
Axis and Kotak Mahindra raise DCC fees for international purchases
Axis Bank and Kotak Mahindra Bank are raising dynamic currency conversion (DCC) charges on credit and debit cards to 3.5%, aligning closer to foreign-currency markup rates.
Anthropic, OpenAI to top Starbucks and McDonald's revenue next year
Anthropic and OpenAI are projected to generate a combined $120 billion in annual revenue, outpacing Starbucks and McDonald’s, as the AI boom reshapes corporate America.
Coal India unveils ₹68,000cr FY27-FY30 plan for mining and infrastructure
Coal India Ltd plans a ₹68,000 crore capital expenditure from FY27 to FY30, focusing on capacity expansion, mining infrastructure, coal evacuation systems, and solar projects.
Wall Street stocks slide after Fed holds rates at 3.50%-3.75%
U.S. stocks fell Wednesday as the Federal Reserve held interest rates steady, while oil prices surged amid renewed Middle East tensions and Treasury yields showed mixed movements.
New market closing rules could dent Zerodha revenue: Nithin Kamath
Nithin Kamath, the co-founder and CEO of Zerodha, has warned that a major change in India's equity market structure could impact the brokerage firm's revenue.
Adani Enterprises posts ₹1,160cr loss in Q1
Adani Enterprises, billionaire Gautam Adani's flagship firm, has reported a consolidated net loss of ₹1,160 crore for the June quarter, as against a net profit of ₹885 crore in the same period last year.
iPhones drive India's smartphone exports to record $9.8B in Q1
India's smartphone exports have hit a record high of nearly $10 billion in the first quarter of FY27.
BMW to cut 8,000 jobs by end of 2027
BMW has announced plans to offer voluntary redundancy to nearly half of its German workforce. The move is part of a larger strategy to cut around 8,000 jobs by the end of 2027.
Sensex surges 900 points: Key reasons behind today's rally
The Indian stock market is witnessing a major rally today, with the BSE Sensex soaring by over 880 points at the time of writing.
eBay to pay $56M to couple it harassed in 2019
In a bizarre chapter of e-commerce history, eBay has agreed to pay $56 million to a couple of newsletter writers.
iyO v/s OpenAI: Court halts proceedings amid settlement talks
The ongoing trademark lawsuit between iyO and OpenAI, along with Jony Ive, has been temporarily halted.
Why SK Hynix shares crashed despite 557% profit surge
South Korean chipmaker SK Hynix reported surging quarterly earnings, though its results fell short of high investor expectations fueled by the AI boom.
South Korea halts trading as AI chip selloff batters stocks
South Korea's benchmark Kospi index has witnessed a massive fall of over 11%. The decline has led to a market-wide trading halt for the second consecutive session.
BuzzFeed cuts 33% of workforce
BuzzFeed, the media giant that was an early adopter of artificial intelligence (AI), has announced a massive layoff.
Visa cuts 2,600 jobs
Visa, the world's largest payments network, is planning to lay off nearly 7% of its workforce.
Ferns N Petals plans IPO by end of 2028
Ferns N Petals, an Indian gifting retailer backed by Lighthouse, is planning to go public by the end of 2028.
India gets new digital payment fraud watchdog
The Indian government has launched the India Digital Payment Intelligence Corporation (IDPIC) to combat cyber financial frauds.
Delhi HC orders winding up of Paytm Payments Bank
The Delhi High Court has ordered the closure of Paytm Payments Bank Limited (PPBL), a move initiated by the Reserve Bank of India (RBI) after the bank's failure to comply with regulatory norms.
How Musk lost nearly $500B in a month
Elon Musk's net worth has witnessed a massive decline in July, plummeting from about $1.32 trillion to some $832 billion.
India's factory output rises 7.3% in June on manufacturing boost
India's industrial output witnessed a significant jump, growing at a rate of 7.3% year-on-year in June 2026.
Flipkart opens Ekart logistics network to businesses across India
Ekart, the supply chain arm of Flipkart Group, has opened its pan-India logistics network for external businesses.
NPCI working with banks, UPI apps to strengthen user privacy
The National Payments Corporation of India (NPCI) is working with Unified Payments Interface (UPI) apps and partner banks to implement the Digital Personal Data Protection (DPDP) law, according to Moneycontrol.
Flipkart trims stake in Shadowfax
Flipkart has reduced its stake in Shadowfax Technologies Ltd, a logistics solution provider, to 1.52% after selling over 3.37 crore shares through an open market transaction on July 24, according to a stock exchange filing.
Google rivals seek billions in damages after $1B EU fine
Google is facing a new wave of costly lawsuits in Europe, after losing a key case under new EU legislation.
AMD to hire 4,500 employees in India
Advanced Micro Devices (AMD), a leading US-based semiconductor company, has announced plans to expand its workforce in India.
Swiggy appoints ex-Myntra chief Nandita Sinha as Instamart CEO
Swiggy has announced a major leadership change in its quick commerce business, Instamart.
Why IT stocks are rising as AI chip stocks fall
The Indian IT sector has shown resilience amid a global sell-off in chipmakers.
Chinese AI infrastructure supplier Zhongji Innolight raises $6.8B in IPO
Chinese optical components manufacturer, Zhongji Innolight, has raised HK$53.41 billion ($6.81 billion) through its Hong Kong listing.
Indo-MIM IPO allotment today: How to check status online
Indo-MIM's initial public offering (IPO) allotment is likely to be finalized today.
SpaceX loses $1.2 trillion in market value in post-IPO slump
SpaceX has witnessed a massive decline in its market capitalization, losing over $1.2 trillion since hitting a peak price of $225.64 in June.
X Money digital payments service launched in US
Elon Musk's social media platform, X, has launched a new feature called 'X Money.'
Netflix faces lawsuit over executive's firing after team retreat
Kevin Baillie, a former Vice President and Head of Creative at Eyeline Studios, Netflix's visual effects division, has filed a lawsuit against the company.
Johnson & Johnson settles talc cancer lawsuits for $5.5B
Johnson & Johnson (J&J) has agreed to a landmark settlement of $5.5 billion, resolving thousands of lawsuits linking its talc products with ovarian cancer.
South Korea's KOSPI crashes 8% as chip stocks tumble
South Korea's KOSPI index plummeted by nearly 8% on Tuesday, triggering a temporary suspension of program trading.
Air India, Modi government partner to promote Indian tourism globally
The Ministry of Tourism (MoT) has signed a Memorandum of Understanding (MoU) with Air India.
Why HDFC Bank has fined its CEO, CFO ₹1L each
HDFC Bank has imposed a fine of ₹1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, Chief Financial Officer Srinivasan Vaidyanathan, and Group Head-Retail Assets Arvind Vohra.
Why transfer of Ratan Tata's stocks to charity is delayed
The transfer of 3,368 Tata Sons shares owned by the late Ratan Tata to two charitable entities has been delayed.
Indians with ₹100cr+ income touches 5-year high, says Finance Ministry
The number of individuals declaring a gross total income (GTI) of ₹100 crore or more has hit a five-year high in India.
Why specialist deep-tech funds are now spawning in India
India's push for self-reliance in semiconductors, defense, space, and artificial intelligence (AI) is giving rise to a new breed of specialized deep-tech funds.
HCLTech will now cater to small businesses in India
HCL Technologies, India's third-largest IT services company, has launched a dedicated business unit for small and mid-sized companies.
Global IT spending to reach $6.37 trillion in 2026: Gartner
Global IT spending is projected to grow by 14.2% in 2026, reaching $6.37 trillion from $5.58 trillion in 2025, according to a recent report by Gartner.
Centre clears RBI proposal to test ₹10, ₹20 plastic banknotes
The Indian government has approved the Reserve Bank of India's (RBI) proposal to conduct field trials of polymer banknotes in the ₹10 and ₹20 denominations.
Shein swung to $99M loss in Q1. Reason? Donald Trump
Fast-fashion giant Shein, which is headquartered in Singapore but was founded in China, has reported a loss of $99 million in Q1 2026.
Apple negotiating lower prices for iPhone 18 Pro Max display
Apple is negotiating with its display suppliers to lower the prices of OLED panels for the upcoming iPhone 18 Pro Max.
Paytm users can now file ITRs via ClearTax for ₹11
Paytm has teamed up with ClearTax, a tax-filing platform, to provide online income tax return (ITR) filing services via its app.
Tata Sons FY26 profit jumps 22% to ₹31,961cr
Tata Sons has reported a 22% surge in its annual profit for the fiscal year ending March 2026.
How small-ticket loans are driving India's consumption story
India's consumption story is being driven by easy access to credit, with small-ticket consumer loans becoming the preferred financing option for discretionary purchases.
Why China's export curbs threaten $6.5 trillion supply chains
China's recent export restrictions on critical minerals and rare earth elements could endanger an estimated $6.5 trillion worth of annual downstream production outside the country, the International Energy Agency (IEA) has warned.
Deepinder Goyal's Temple doubles valuation to $375M in 5 months
Temple, a wearable tech start-up founded by Deepinder Goyal, the founder of Eternal, has launched an employee stock ownership plan (ESOP) liquidity program.
Why budget smartphones are struggling in India
India's smartphone market witnessed a major slowdown in the April-June quarter, with a 10% year-on-year (YoY) decline.
US appeals court blocks Trump's mail-in voting order
A federal appeals court has blocked President Donald Trump's executive order aimed at tightening mail-in voting rules in 23 states.
Why India's shipping costs are rising despite falling oil prices
Despite a decline in oil prices, India's shipping industry is still facing high freight costs.
Indian government bonds see rally today: What's the reason?
Indian government bonds witnessed a major rally at the start of the week today, recovering from last week's losses.
Can INR strengthen to 95/$ in coming months?
The Indian rupee could appreciate against the US dollar in the coming months, according to Anindya Banerjee, Head of Research-Currency, Commodity, and Interest Rate Derivatives at Kotak Securities.
Bitcoin rebounds above $65,000
Bitcoin (BTC), the world's largest cryptocurrency by market cap, has surged past the $65,000 mark. The price is up by some 1.2% in the last 24 hours.
What's driving the rally in Indian IT stocks today
Leading Indian IT stocks, including Infosys and Tata Consultancy Services (TCS), witnessed a significant surge in their share prices on Monday.
8th Pay Commission to hold meetings with stakeholders in September
The 8th Pay Commission has announced its plan to hold meetings with employee and pensioner bodies, as well as other stakeholders in Chennai and Puducherry.
RBI's latest move may bring $85B in forex inflows
India is poised to witness a major surge in Foreign Currency Non-Resident (Bank) deposits, with projections of inflows between $65-70 billion by the end of the scheme.
RBI's forex measures attract $32B in foreign inflows
The RBI Governor Sanjay Malhotra has revealed that banks have successfully mobilized nearly $32 billion through Foreign Currency Non-Resident Bank (FCNR(B)) deposits.
Why gold and silver prices are rallying today
Gold prices rose on Monday, buoyed by a weaker US dollar and lower Treasury yields.
China's factory profits slow as exports offset weak demand
China's industrial profits saw a 15.1% year-on-year increase in June, data from the National Bureau of Statistics showed on Monday.