Business News
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India buys nearly 38% of its April oil from Russia
India's oil imports from Russia surged to an 11-month high of 38% in April 2026, with a staggering 425% jump in the premium paid per tonne compared to March.
Sahasra Electronics, Zoho Corporation showcase at COMPUTEX 2026 Taipei
Indian firms Sahasra Electronics and Zoho showcased products at COMPUTEX 2026, seeking global partnerships as India-Taiwan tech collaboration gains momentum.
You can soon catch a Scandinavian Airlines flight from India
Scandinavian Airlines (SAS) has announced its intention to start operations in India.
Palantir CEO Alex Karp likens AI overuse to porn addiction
Palantir CEO Alex Karp likened excessive AI use to a porn addiction, emphasizing that increased AI consumption doesn't necessarily translate into greater productivity or value.
When will EPFO's 8.25% interest reflect in your account?
The Employees' Provident Fund Organisation (EPFO) has announced an interest rate of 8.25% for the financial year 2025-26.
Gautam Adani is Asia's richest person again
Industrialist Gautam Adani has reclaimed his spot as Asia's richest person after a surge in the shares of his conglomerate, the Adani Group.
Why RBI has imposed ₹41.8L fine on Canara Bank
The Reserve Bank of India (RBI) has imposed a penalty of ₹41.8 lakh on Canara Bank for violating Know Your Customer (KYC) norms and account classification errors.
SBI Mutual Fund buys Adani Group stocks worth ₹5,747cr
SBI Mutual Fund has acquired stakes in two major companies of the Adani Group, namely Adani Enterprises and Adani Energy Solutions.
Croma's 'Everything Apple' sale cuts iPhone 17 256GB to ₹44,768
Croma's limited-time 'Everything Apple' sale offers the iPhone 17 at a starting price of Rs 44,768, slashed from Rs 82,900, with additional cashback and exchange benefits.
8th Pay Commission: Fitment factors, salaries likely to rise significantly
The 8th Pay Commission, set up by Prime Minister Narendra Modi last year, is currently conducting multiple state visits and meetings with employee representative groups, unions and stakeholders.
Chinese memory chip makers emerging as rivals to global giants
Chinese memory chip manufacturers are emerging as formidable competitors to global semiconductor giants, according to Jefferies's latest GREED & fear report.
IATA in Rio flags Iran war, higher fares, aircraft delays
Global airline leaders convene in Rio amid soaring fuel costs from the Iran war, forcing carriers to hike fares and limit flights as they navigate a fragile post-pandemic recovery.
Meta explores stock sale to help fund growing AI ambitions
Meta, the parent company of Facebook and Instagram, is considering a major stock sale to raise funds for its artificial intelligence (AI) initiatives.
Ixigo to acquire majority stake in hotel booking start-up Brevistay
Le Travenues Technology, the parent company of online travel platform Ixigo, has approved the acquisition of a 54.66% stake in hotel booking start-up Brevistay Hospitality for ₹65.69 crore.
YMTC and CXMT pursue listings as AI boosts chip demand
Chinese memory chipmakers, including YMTC and CXMT, are rapidly gaining global market share amid surging AI-driven demand, supported by strategic IPOs and robust revenue growth.
Apollo, Blackstone secure $35B debt package for Anthropic
Apollo Global Management and Blackstone have secured a massive $35 billion financing package for Anthropic PBC. The move is aimed at bolstering Anthropic's artificial intelligence (AI) infrastructure.
RBI appoints Sahamati as self-regulatory body for Account Aggregator ecosystem
The Reserve Bank of India (RBI) has appointed Sahamati as the Self-Regulatory Organisation (SRO) for India's Account Aggregator (AA) ecosystem.
Indian government restores standard pack sizes for popular cooking oils
The Centre has reinstated standard pack sizes for major edible oils, phasing out odd-sized packs within three months to enhance price transparency and reduce consumer confusion.
Eighth CPC opens final portal submissions until June 15, 2026
The 8th Central Pay Commission has extended the memorandum submission deadline to June 15, 2026, while salary revisions for central government employees are expected by 2027.
SAS Copenhagen-Mumbai flight turned back over missing Indian regulatory approval
Scandinavian Airlines (SAS) is actively coordinating with the Indian government to restart its Copenhagen–Mumbai service, marking its return to India after 17 years.
Reid Hoffman exits Microsoft board to focus on AI start-up
Reid Hoffman, the co-founder of LinkedIn and a prominent venture capitalist, is leaving Microsoft's board of directors.
IBM allegedly covered up major data breaches, lawsuit claims
William Barlow, a former vice president of threat intelligence at IBM, has accused the tech giant of covering up three major data breaches in the last decade.
Gold sees biggest fall in 2 months: What's the reason?
Gold prices have witnessed their biggest fall in over two months, falling as much as 3.4%.
EU might force firms to have at least 3 suppliers
The European Commission is considering new legislation aimed at reducing dependence on single suppliers, especially from China.
Amid AI boom, chipmaker Marvell to join S&P 500 index
Marvell Technology, a leading semiconductor company, will be joining the S&P 500 index later this month.
Bitcoin drops below $60,000 mark: Here we decode why
Bitcoin, the world's largest cryptocurrency, has fallen below the $60,000 mark for the first time since October 2024.
Revolut readies secondary share sale that could value it $115B
Revolut is exploring a secondary share sale valuing the digital bank at $115 billion, following its UK banking license approval and US charter application.
SBI Mutual Fund acquires ₹5747.55cr Adani stakes from GQG Partners
SBI Mutual Fund acquired stakes worth Rs 5,747.55 crore in Adani Enterprises and Adani Energy Solutions, signaling continued institutional interest in the Adani Group companies.
Broadcom AI results fall short, US tech loses $1.3 trillion
US semiconductor stocks plunged, wiping out $1.3 trillion in market value as investor caution over AI-driven valuations grew; Nvidia fell 6%, while Micron dropped 13%.
Google signs $30B SpaceX agreement for NVIDIA GPUs, exit clause
Google has committed to paying SpaceX $920 million monthly through mid-2029 for access to Nvidia-powered computing infrastructure, bolstering its AI services amid surging demand.
Noida-based Lumiq set to raise 50Cr in fresh funding
Noida-based AI platform Lumiq is raising Rs 50 crore in a Series B round led by Bajaj Finserv Ventures, with Info Edge also participating.
Nearly 2,000 SoFi Stadium workers authorize strike before World Cup
Nearly 2,000 SoFi Stadium hospitality workers voted 96% to authorize a strike, citing stalled negotiations and key demands ahead of the USA vs Paraguay match on June 12.
Wall Street ends 9-week rally after stronger-than-expected jobs report
The Nasdaq Composite plunged 4.18% on Friday, marking its steepest drop since April 2025, as a stronger-than-expected U.S. jobs report triggered a sharp selloff in chip stocks.
Meta considers share sale to fund artificial intelligence projects
Meta is exploring a significant stock offering to fund its AI infrastructure, following Alphabet's $84.75 billion equity move, as Big Tech ramps up AI investments, reports FT.
Marvell joining S&P 500 June 22 after key profit milestone
Marvell Technology will replace PoolCorp in the S&P 500 on June 22, following an AI-driven rally and achieving key profitability milestones over the past year.
SpaceX debuts June 12 at $1.8 trillion, S&P profit rule
SpaceX and other trillion-dollar IPO candidates like OpenAI may face years-long delays joining the S&P 500 due to strict profitability requirements upheld by S&P Dow Jones Indices.
Apollo and Blackstone finance $35B Google TPU lease deal
Apollo Global Management and Blackstone have secured a $35 billion debt package to fund AI chip leasing for Anthropic, marking one of the largest private credit deals ever.
May jobs rebound puts Fed chair Kevin Warsh under pressure
The new Fed chair faces mounting pressure as strong jobs data, inflation concerns, and political expectations collide, complicating his path ahead of his first policy meeting.
Reed Hastings leaves as Netflix chairman after nearly 3 decades
Reed Hastings steps down after nearly 30 years, with Jay Hoag, a long-time board member and investor, assuming the chairman role following Netflix’s annual shareholders meeting.
Maharashtra rolls out ₹16.7L/cr plan to build MMR data hub
Maharashtra aims to transform the Mumbai Metropolitan Region (MMR) into India’s leading data centre hub, with 60% of the country’s facilities projected to be located there.
US tech stocks lose nearly $2 trillion as Nasdaq tumbles
US tech stocks plunged on Friday, erasing nearly $2 trillion in value, as stronger-than-expected jobs data fueled fears of prolonged high interest rates by the Federal Reserve.
SpaceX reveals $920 million monthly Google GPU deal in IPO
SpaceX has secured a $920 million-per-month cloud computing deal with Google, providing access to 110,000 Nvidia GPUs to support Google's Gemini AI models ahead of its IPO.
Google secures $920 million monthly SpaceX 110,000 NVIDIA GPUs for Gemini
Google has signed a $920 million-per-month deal with SpaceX for access to 110,000 NVIDIA GPUs and related components, starting October 2026 through June 2029.
Broadcom outlook and rate concerns send Nasdaq-100 down 4.1%
The Nasdaq 100 dropped 4.1%, marking its steepest decline since April 2025, as traders rotated from overvalued tech into defensive sectors like healthcare and staples.
India could see over 7% GDP growth this fiscal year
India's Chief Economic Advisor V Anantha Nageswaran projects over 7% growth by FY28, contingent on improved global conditions and driven by structural reforms and policy measures.
BHEL and SAIL face Maharatna downgrade over ₹5,000 cr benchmark
BHEL and SAIL face a one-year deadline to meet financial benchmarks, risking demotion to Navratna status due to underperformance in profit criteria among 14 Maharatnas.
'Just a number': PM's economic adviser downplays rupee-at-100 panic
Shamika Ravi, a member of the Economic Advisory Council to Prime Minister Narendra Modi, has downplayed fears of the Indian rupee falling to 100 against the US dollar.
India's GDP growth slows to 7.8% in Q4
India's economy grew by 7.8% in the fourth quarter (Q4) of the fiscal year 2026, down from the previous quarter's growth rate of 8%.
RBI says ready for Anthropic's Mythos AI rollout
The Reserve Bank of India (RBI) has announced its readiness to handle Anthropic's latest advanced artificial intelligence (AI) model, Mythos.
RBI takes major steps to boost rupee, attract foreign capital
The Reserve Bank of India (RBI) has announced five major measures to attract foreign capital and bolster the Indian rupee.
Centre raises spending powers of military chiefs
In a major move, the Indian government has increased the financial powers of military commanders and service chiefs.
Tata Sons IPO uncertain as RBI reviews upper-layer NBFC list
The initial public offering (IPO) of Tata Sons remains uncertain as Reserve Bank of India (RBI) Governor Sanjay Malhotra has announced plans to revise the list of upper-layer non-banking financial companies (NBFCs).
India considers easing bilateral investment rules to attract more investors
In a bid to attract more foreign investment, the Indian government is considering changes to its bilateral investment treaty (BIT) framework.
RBI lowers GDP growth forecast for FY27 to 6.6%
The Reserve Bank of India (RBI) has revised its GDP growth forecast for the fiscal year 2026-27 (FY27) from 6.9% to 6.6%.
Google lays off employees in cloud and cybersecurity divisions
Google has laid off employees from its Cloud division and key cyber teams. The move comes as part of the ongoing tech sector layoffs as companies balance AI spending with headcount.
RBI eases investment norms for foreign investors to boost participation
The Reserve Bank of India (RBI) has announced a major policy change, removing concentration limits under the General Route for Foreign Portfolio Investors (FPIs).
Apple App Store generated $1.4 trillion in developer sales, billings
Apple has announced that its App Store generated over $1.4 trillion in developer billings and sales in 2025, a slight increase from the $1.3 trillion reported last year.
India exempts foreign investors from tax on government securities
The Indian government has issued the Income-tax (Amendment) Ordinance, 2026, offering tax relief to foreign institutional investors (FIIs) on interest income and capital gains from investments in government securities.
RBI pauses rate cuts: What it means for borrowers, savers
The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 5.25% for the second consecutive policy meeting.
India's forex reserves remain above $680B: RBI Governor
India's foreign exchange reserves stood at a robust $682.3 billion on May 29, RBI Governor Sanjay Malhotra announced during the Monetary Policy Committee meeting on Friday.
RBI raises inflation forecast for FY27 to 5.1%
The Reserve Bank of India (RBI) has revised its inflation forecast for the fiscal year 2026-27, projecting consumer price inflation (CPI) at 5.1%.
RBI raises investment limits for NRIs in Indian equities
The Reserve Bank of India (RBI) has raised the investment limits for Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) in equity instruments on stock exchanges.
RBI's repo rate pause keeps home loan EMIs unchanged
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 5.25%.
RBI holds repo rate at 5.25% for 3rd consecutive time
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has kept the benchmark repo rate steady at 5.25% in its June review.
PwC finds ₹2,200cr hole in IndusInd treasury accounts
A confidential review by PricewaterhouseCoopers (PwC) has flagged serious accounting lapses in IndusInd Bank's treasury operations.
Why crypto bros are dumping Bitcoin
Bitcoin is facing a major sell-off at the start of June, with the cryptocurrency down 13% this week.
'Dawood's assassination attempts, son's kidnapping': Lalit Modi on quitting cricket
Former Indian Premier League (IPL) commissioner and chairman, Lalit Modi, has revealed the reasons behind his exit from the sport.
Indian IT firms tap GCCs for AI deals
India's leading IT services companies, including Infosys, Cognizant, HCLTech and Hexaware Technologies are focusing on Global Capability Centers (GCC) to meet the growing demand for artificial intelligence (AI) solutions.
Rajesh Exports' ₹15 trillion discrepancy: Fraud or accounting error?
The Securities and Exchange Board of India (SEBI) has launched an investigation into Rajesh Exports, a leading gold exporter.
Carlsberg India takes step toward IPO with public company status
Carlsberg India is gearing up for a possible stock market listing.
SoftBank slides 11%, biggest drop in months
SoftBank Group Corp's shares have taken a major hit, falling over 11% on Thursday.
MS Dhoni-backed Kuku files for ₹3,500cr IPO
Kuku Technologies Ltd, which operates popular vernacular audio platform Kuku FM and short-video streaming app Kuku TV, has filed confidential draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
Why India may cut tax on foreign bond investors
The Indian government is considering removing or slashing the 20% withholding tax on interest income from government bonds for foreign investors.