Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Mark Zuckerberg moves to Forbes 5th spot passing Michael Dell
Mark Zuckerberg overtakes Michael Dell as the world's fifth-richest person after Dell shares dropped over 18% since June, reducing Dell's net worth to $141 billion.
Rupee opens at ₹96.41 against US dollar after RBI intervention
The Indian rupee opened 4 paise higher at 96.41 against the US dollar, supported by RBI intervention, despite pressure from elevated crude oil prices and geopolitical tensions.
India to triple data center capacity by 2030 with $25B
India's $25 billion data-centre expansion by 2030 positions power equipment, electricals, and cooling infrastructure as top beneficiaries of the AI-driven infrastructure build-out.
Bitcoin rises to $65,380 after US spot Bitcoin ETF inflows
Bitcoin surged to $65,380 on July 21, supported by five consecutive sessions of US spot Bitcoin ETF inflows totaling $610.5 million since July 14.
Kevin O'Leary defends AI water use on Glenn Beck show
Kevin O'Leary dismisses claims that modern AI data centers drive water scarcity, comparing their water use to a golf course due to advancements in cooling technologies.
Samsung forms RX division to speed development of humanoid robots
Samsung Electronics has launched a robotics division under its CEO, appointing former Hyundai executive Lee Dongkun to spearhead strategy and development initiatives.
Gold and silver nudge higher amid tensions, US rate talk
Gold and silver prices saw modest gains amid geopolitical tensions, while expectations of higher US interest rates and fluctuating oil prices capped further upside.
US dollar steadies near 1-week high after Yemen's Houthi blockade
The U.S. dollar hovered near a one-week peak as Middle East conflicts fueled energy supply fears, while fluctuating oil prices and inflation risks kept markets on edge.
Asian stocks rise as Iran ceasefire proposal lowers oil prices
Asian stocks edged higher on Tuesday as Middle East mediation eased oil prices, with South Korea's Kospi surging nearly 3% and Japan’s Nikkei gaining over 1%.
CBIC considers single central GST authority for multi state businesses
The CBIC has formed a high-level panel to evaluate centralised GST administration for businesses with multiple state registrations under one PAN, aiming to simplify compliance.
Oil prices slip amid diplomatic moves and ongoing supply threats
Oil prices softened as reports of mediation efforts between the U.S. and Iran offset concerns over escalating strikes and threats of a naval blockade by Yemen's Houthis.
Oracle's credit risk highest since 2008 amid AI push worries
Oracle's credit default swaps surged to a record 2.03%, reflecting growing concerns over its massive AI investments as S&P downgraded the company to near-junk status.
Oil prices steady amid US airstrikes and Iran targeting Kuwait
Oil prices stabilized after two days of gains as US-Iran hostilities persisted, while Yemen's Houthi militants threatened Saudi maritime traffic in the Red Sea.
Transition VC launches ₹1,500cr 2nd fund backing 20 engineering startups
Transition VC has launched its ₹1,500 crore Fund II to invest in 20 engineering-led startups, focusing on India’s energy transition and advanced manufacturing sectors.
Startup 30 Sundays raises $6.7 million for AI travel
30 Sundays, founded in 2024, secured $6.7 million in a funding round led by Bessemer Venture Partners, with participation from Info Edge Ventures and Eximius.
SBI Funds Management pays 9 banks ₹4.625cr for $1bn IPO
SBI Funds Management's 2026 IPO, India's first billion-dollar debut this year, offers investment banks a mere ₹46.25 million in fees—among the lowest for large Indian listings.
Skylark Labs nears $1B valuation amid $150 million funding talks
California-based physical AI startup Skylark Labs is negotiating a $100M-$150M funding round, potentially valuing the company at over $1 billion and solidifying its unicorn status.
Colossal Biosciences seeks $20B to $30B valuation using fossil DNA
De-extinction startup Colossal Biosciences is reportedly seeking new capital, aiming for a valuation between $20 billion and $30 billion, Axios revealed.
India's private banks see profits squeezed as retail lending falls
Top Indian private banks, including HDFC, Kotak Mahindra, and Axis Bank, reported declining net interest margins in Q1FY27 due to weak retail loan demand.
Ather Energy raises ₹1,300 cr in institutional placement at ₹1,202
Ather Energy raised ₹1,300 crore via QIP at ₹1,202 per share, a 2.8% premium to the floor price. Key investors include ADIA and major domestic mutual funds.
ED attaches 389 properties tied to Bhasin entities over ₹240cr
The Enforcement Directorate (ED) provisionally attached 389 immovable properties valued at ₹240.03 crore under the PMLA in a money laundering case involving Bhasin Group entities.
San Francisco judge approves Anthropic $1.5B settlement over pirated books
A San Francisco federal judge finalized Anthropic’s $1.5 billion settlement with authors over AI copyright misuse, marking the first major US case of its kind to resolve.
Donald Trump imposes a 50% tariff on most Canadian imports
US President Donald Trump has imposed 50% tariffs on most Canadian goods, citing trade disputes over automobiles, alcohol, and dairy products under Section 338 of the Trade Act.
NYT reports Kalshi may have tipped FBI before Coplan raid
Kalshi allegedly played a role in the 2024 FBI raid on Polymarket CEO Shayne Coplan, intensifying the fierce rivalry between the prediction market platforms.
Eric Trump sues Capital One alleging political account closures
The Trump family has refiled their lawsuit against Capital One, alleging the bank politically motivated account closures following the January 6, 2021 Capitol attacks.
Natural raises $30 million Series A to enable AI agent payments
Natural, a startup redesigning payment infrastructure for autonomous AI agents, secured $30M in Series A funding led by Forerunner to challenge industry leaders like Stripe.
HCL Group celebrates 50th anniversary as chair praises AI tailwind
HCLTech Chairperson Roshni Nadar highlights AI as a transformative force reshaping work, positioning the company for accelerated growth amidst industry-wide disruption.
OpenAI and peers under $1B AI ad revenue this year
OpenAI's ad revenue projections for 2026 are falling drastically short, with analysts estimating a 90% miss on its five-year targets amidst a struggling AI advertising market.
Jeff Bezos has invested in this £2B UK AI start-up
Jeff Bezos, the founder of Amazon, and the UK government have invested in a £2 billion British artificial intelligence (AI) start-up called CuspAI.
Etihad is offering 20% off on these international flights
Etihad Airways has launched a special promotional sale for Indian travelers, offering up to 20% off on Business and Economy class fares.
Meta to proceed with layoffs challenged over AI bias claims
A US federal judge has denied a request to halt Meta's planned layoffs of 26 employees.
Airtel's data center arm to expand capacity to 1GW
Bharti Airtel's data center subsidiary, Nxtra, is gearing up for a massive expansion. The company plans to quadruple its capacity to 1 gigawatt (GW) in the coming years.
Centre wants ethanol to become your next cooking fuel
The Indian government is working on a policy to promote ethanol as a mainstream cooking fuel.
Why Indian pilots want Gulf flights to be canceled
The Airline Pilots' Association of India (ALPA India) has called for an immediate suspension of flights to the UAE and other high-risk Gulf destinations.
Why RBI has intervened to stabilize Indian rupee
The Reserve Bank of India (RBI) has stepped in to stabilize the Indian rupee, which is nearing a record low.
India's defense stocks plunge amid escalation of US-Iran conflict
Shares of major defense companies such as Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), and Bharat Dynamics have witnessed a decline during today's trading session.
L&T has bagged 'mega' orders worth up to ₹15,000cr
Larsen and Toubro (L&T) has announced that its Metals and Minerals vertical has bagged 'mega' orders from leading domestic companies.
Tata to open 100 Westside stores annually to accelerate expansion
Tata Group's Trent Ltd. is planning an aggressive expansion of its premium fashion brand, Westside.
ICICI sees biggest workforce decline among private banks in FY26
ICICI Bank, India's second-largest private sector lender, has seen a major dip in its workforce strength during the fiscal year 2026.
Gold, silver prices in India rise today: What's the reason?
Gold and silver prices rose in early trade on the Multi Commodity Exchange (MCX) today. The gains were mainly due to value buying after a slight easing of the US dollar.
Indian stock market has crashed today: Here we decode why
The Indian stock market witnessed a major slump today, with the Sensex and Nifty falling by 0.65% and 0.5%, respectively. The fall comes after a strong rally in the previous session.
India's UPI may soon be linked with Spain's payment service
India and Spain have agreed to speed up talks on making their digital payment platforms, the Unified Payments Interface (UPI) and Bizum, interoperable.
FIFA fuels Kalshi's record growth: 3M users, $1.2B in bets
The recently concluded FIFA World Cup has given a major boost to prediction markets, with Kalshi witnessing an unprecedented surge in user registrations and trading volumes.
TSMC to invest $100B in Arizona amid AI chip demand
Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest maker of advanced artificial intelligence (AI) chips, has announced a massive $100 billion investment to expand its facilities in Arizona.
Oil prices hit $90 per barrel again: What's the reason?
Oil prices surged by 3% today, with Brent crude futures crossing the $90 mark per barrel.
7 IPOs to hit Dalal Street this week
This week, the primary market will see a flurry of activity with seven initial public offerings (IPOs) set to hit Dalal Street.
Air India to add 60 aircraft in next 18 months
The Air India Group is set to expand its fleet by adding up to 60 new aircraft in the next 18 months.
Starbucks workers in South Korea have unionized
Starbucks Korea, the third-largest market for the global coffee giant after the US and China, has seen its workers form a labor union.
Zepto goes down: Users unable to access app, make payments
Quick-commerce platform Zepto has been facing a major outage, affecting its app and website.
Accenture revises pay hike strategy: How it affects you?
Accenture, a leading global IT services provider, has revamped its salary hike strategy for the June cycle.
Chhattisgarh attracts investments worth ₹8L crore in 18 months
Chhattisgarh has emerged as the top state on key parameters in the CRISIL-NITI Aayog Investment Friendliness Index (IFI) 2026.
Why Samsung has laid off over 800 employees in US
Samsung Electronics has announced job cuts at its US display, phone, and other consumer electronics operations.
RIL posts strong Q1 results: Should you buy shares?
Reliance Industries Ltd (RIL), led by Mukesh Ambani, witnessed a 2.5% rise in its share price on Friday to close at ₹1,328.8 per share.
India's GDP to grow at 6.5-6.8% in FY27: Deloitte
Deloitte India has projected a GDP growth rate of 6.5-6.8% for the current fiscal year (FY27).
These public issues will open in India next week
The primary market is set to witness a flurry of activity next week with four public issues opening for subscription.
5paisa partners with OpenAI to enhance investing experience
Leading fintech firm and discount broker, 5paisa Capital Ltd, has announced a strategic partnership with OpenAI.
TCS leads ₹1.5L crore gain among top-10 firms
The combined market capitalization of five out of India's top 10 most valued companies rose by a whopping ₹1.54 lakh crore last week.
How Gautam Adani got US bribery and fraud charges dropped
Billionaire Gautam Adani has been exonerated from bribery and securities fraud charges by US prosecutors.
Govt extends exemption for renewable energy projects
The Indian government has extended the exemption timeline for net metering and open access renewable energy (RE) projects till December 31, 2026.
Apple raises iPhone prices in Japan by up to 11%
Apple has raised the prices of its iPhone models in Japan by as much as 11%. The price hike affects the iPhone 17 lineup, iPhone Air, and iPhone 16e.
PNB raises $420M in overseas fundraising, targets $2.5B by September
Punjab National Bank (PNB) has secured around $419 million in Foreign Currency Non-Resident Bank (FCNR(B)) deposits.
Bank of England won't offer loans to these bondholders anymore
The Bank of England has announced a ban on accepting bonds linked to thermal coal for key loan arrangements.
Maharashtra to build quantum computing, deep-tech ecosystem: CM Devendra Fadnavis
Maharashtra Chief Minister Devendra Fadnavis has announced plans to build an ecosystem for quantum computing and deep technologies in the state.
Goldman Sachs tightens betting rules for employees on prediction markets
Goldman Sachs has tightened its rules on employee participation in prediction markets.
BPCL's new Bharatgas Lite-ZIP cylinders are meant for urban households
Bharat Petroleum Corporation Limited (BPCL) has launched a new premium LPG offering called Bharatgas Lite ZIP.
'₹30 extra per km': 4.7-star Uber driver's demand shocks netizens
A man in Pune has alleged that an Uber driver demanded an additional ₹30 per kilometer for his ride.
Is Blinkit's document printing service safe to use?
An incident involving a customer of Blinkit's document printing service has sparked a major debate over data privacy.
Can AI industry survive if OpenAI collapses?
Ed Zitron, an AI critic and researcher, has warned that the ongoing boom in artificial intelligence (AI) is largely driven by OpenAI.
This is how India's 1st indigenous C-295 aircraft will look
Union Minister of Civil Aviation, Rammohan Naidu Kinjarapu, recently visited the Tata Advanced Systems Limited (TASL) facility in Vadodara, Gujarat.
Govt rolls out 'White Rabbit' tech to secure IST
The Indian government has launched a demonstration network using "White Rabbit" precision timing technology to provide a secure and tamper-resistant national time signal.
India tightens tax treaty with Sri Lanka
India has amended its tax treaty with Sri Lanka, tightening loopholes in double taxation avoidance and preventing revenue leakage through treaty abuse.
Shocking! Zomato accused of mental, sexual harassment by ex-employee
A former employee of Zomato has accused the company of mental and sexual harassment in a viral LinkedIn post.
IDBI Bank's Q1 results: Net profit up 5% to ₹2,115cr
IDBI Bank has reported a standalone net profit of ₹2,115 crore for the first quarter of the financial year 2026-27 (Q1 FY27).
HDFC Bank's Q1 net profit rises 5% to ₹19,060cr
India's largest private lender, HDFC Bank, has reported a standalone net profit of ₹19,060 crore for the first quarter of FY27.
ICICI Bank's Q1 profit jumps 15.95% YoY to ₹14,804cr
ICICI Bank has reported a 15.95% year-on-year increase in its standalone net profit for the April-June quarter.
Yes Bank's Q1 results: Profit jumps 33.7% YoY to ₹1,071cr
Yes Bank has reported a massive 33.7% year-on-year jump in its standalone net profit for the quarter ending June 2026 (Q1 FY27).
PNB's Q1 net profit surges over 300% to ₹5,200cr
Punjab National Bank (PNB) has reported a massive surge in its net profit for the first quarter of fiscal year 2026-27.
Kotak Mahindra Bank's Q1 profit rises 22.5% to ₹5,480cr
Kotak Mahindra Bank has posted a consolidated net profit of ₹5,480.46 crore for the June quarter (Q1 FY27), marking a 22.5% year-on-year growth.
Axis Bank Q1 results: Net profit rises 23% to ₹7,114cr
Axis Bank has reported a 23% year-on-year rise in its standalone net profit for the April-June quarter of FY27.
Apple in talks to settle antitrust lawsuit with US DOJ
Apple is in the early stages of settlement talks with the US Department of Justice (DOJ) over a 2024 lawsuit.
Jensen Huang's leather jacket goes under the hammer for ₹9cr
Jensen Huang, the CEO of NVIDIA, is known for his signature look of black leather jackets.