Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Indian rupee slips to 96.34 versus US dollar after gains
The Indian rupee depreciated to 96.34/$ on July 22, reversing earlier gains as soaring crude oil prices and geopolitical tensions dampened investor sentiment.
Sensex drops over 400 points despite positive global signals
Indian stock markets opened lower on Wednesday, with the Sensex dropping over 400 points, despite positive global cues and upbeat automobile Q1 results signaling sectoral optimism.
Pramod Gubbi warns AI will hit India's IT jobs hardest
AI-driven productivity may reduce reliance on labor in India's IT sector, posing greater risks to workers than to the companies themselves.
Wistron opens $700 million Fort Worth plant, 1st US GB300 producer
Wistron has launched a $700 million facility in Fort Worth, Texas, to mass-produce Nvidia's cutting-edge AI systems, including the GB300 Grace Blackwell Ultra Superchip.
Zhongji InnoLight seeks $7bn in Hong Kong listing since Alibaba
Zhongji InnoLight, the world's largest optical transceiver manufacturer, aims to raise HK$55 billion (US$7 billion) in Hong Kong's biggest share sale since Alibaba's 2019 debut.
Government mulls letting Adani and GMR run airlines pending approvals
India is considering allowing airport operators to own airlines, aiming to challenge the dominance of IndiGo and Air India in the domestic aviation market.
Oil prices hit highest in weeks amid Middle East tensions
Brent crude surpassed $92 and WTI climbed above $85 as escalating Middle East tensions, including disruptions near the Strait of Hormuz, fueled global supply concerns.
Gold reaches $4,124 as US Federal Reserve decision awaited
Gold prices hit a near two-week high as escalating West Asia tensions spurred safe-haven demand, while silver outperformed with a 1.7% jump amid strong industrial sentiment.
Brent crude reaches $92.09 as Gulf tensions drive oil higher
Brent crude surged 1.2% to $92.09 per barrel, its highest intraday price since June 11, amid escalating tensions in the Gulf following Iran's attacks on US installations.
Brent nears $92 as Trump refuses Iran talks, threatens strikes
Oil prices climbed as President Trump dismissed near-term talks with Iran, while escalating Middle East tensions and Black Sea disruptions fueled concerns over global supply risks.
News Corp. sues Brave, alleges browser sold articles to AI
News Corp has filed a countersuit against Brave Software, accusing the search engine of unauthorized scraping and resale of its copyrighted articles to AI companies.
Asian stocks rally as semiconductor shares surge and oil rises
Asian markets advanced for a second day, driven by semiconductor gains. South Korea's Kospi surged 6%, while Japan's Nikkei 225 rose 0.34% amid rising crude oil prices.
Asian stocks rally as semiconductors surge, Kospi soars on AI
Asian stocks climbed for a second day, driven by semiconductor gains, as crude prices surged above $92 per barrel amid escalating tensions between the US and Iran.
US rolls out 10 to 12.5% tariffs on 60 partners
The United States plans fresh tariffs targeting 60 countries as President Trump's temporary 10% global levy expires, sparking fears of retaliation and diplomatic strain.
Yen drops past 163 per US dollar, weakest since 1986
The yen weakened past 163 per dollar for the first time since 1986, driven by geopolitical tensions, rising oil prices, and widening US-Japan interest rate differentials.
Asian stocks rally on AI excitement and higher oil prices
Asian stocks rose for a second day, driven by a rebound in chipmakers amid the AI boom, while oil prices climbed following renewed US-Iran tensions.
Jamie Dimon urges caution on US Treasuries amid debt alarm
JPMorgan CEO Jamie Dimon cautions against investing in U.S. Treasuries, citing soaring debt, persistent inflation, and potential market instability as key concerns.
Rupee closes at 96.24, gains 21 paise after RBI inflows
The rupee appreciated by 21 paise to close at 96.24 against the US dollar on Tuesday, supported by reduced oil demand and nearly $21 billion in forex inflows.
SBI Funds listing yields ₹160cr and ₹72cr valuations for executives
SBI Funds Management's top executives gained multi-crore windfalls from employee stock options after the asset manager's strong stock market debut.
Government backed Raajmarg Infra plans share sale after ₹6,000cr IPO
Raajmarg Infra Investment Trust is exploring a follow-on public offer or qualified institutional placement to fund toll road acquisitions and broaden its retail investor base.
RBI releases draft rules expanding foreign investment coverage in India
The Reserve Bank of India proposed a single framework to govern foreign investments in equity instruments, aiming to streamline and replace existing regulations.
Indian firms seek foreign equity to share risks and technology
Indian conglomerates are increasingly inviting foreign equity partners at early project stages, enabling shared risks and reduced capital strain for mega-capital ventures.
Judge orders Donald Trump surrender records in $10B BBC suit
A federal judge ruled Donald Trump must disclose detailed financial records from his businesses as part of his $10bn defamation lawsuit against the BBC over a 2024 documentary.
Brent crude at $91 amid Houthi threats, US warning
Brent crude prices surged past $91 per barrel, reaching a two-month high due to escalating tensions in West Asia and supply disruptions from Kazakhstan's key export terminal.
US judge permits BBC subpoenas in Trump's $10 billion lawsuit
A US judge has permitted the BBC to subpoena key Trump allies and family members as part of its defence against Trump's $10 billion defamation lawsuit over a January 6 documentary.
Reserve Bank of India considers polymer banknotes and seeks manufacturers
India's currency printing arm explores polymer banknotes, citing durability, cost-efficiency, and counterfeit resistance as key advantages over traditional paper notes.
OpenAI staff protest Brockman's donations amid Meta employees' AI pushback
Tech workers are clashing with executives over AI regulation, with OpenAI employees launching a PAC for stricter oversight and others alleging corporate retaliation.
'One Disney' plan cuts jobs across Pixar, National Geographic, ESPN
Disney has announced significant layoffs, impacting hundreds of employees across Pixar, ESPN, and National Geographic as part of its ongoing restructuring efforts.
This might be 1st 'world model' AI start-up going public
Chinese artificial intelligence (AI) start-up GigaAI is gearing up for a public listing in Hong Kong.
Cognizant bags mega tech services deal worth up to $1B
Cognizant, a leading software services company, has won a multi-year technology services contract from US health insurer Centene Corporation, as per Moneycontrol.
Maharashtra plans property tokenization on blockchain: How it affects you?
Maharashtra is mulling a new legal framework for the tokenization of land and other immovable assets using blockchain technology.
Positive returns for Indian equities over next 12 months: JPMorgan
JPMorgan's Rajiv Batra, Head of Asia and Co-Head of Global Emerging Markets Equity Strategy, has predicted positive returns for Indian equities in the next 12 months.
JSW eyes majority stake in Volkswagen's India unit: Report
Volkswagen AG is in advanced talks with JSW Group for a potential stake sale in its Indian unit, as per Bloomberg.
Tata Steel to invest ₹10,000cr in Jharkhand by 2028
Tata Steel has announced its plan to invest ₹10,000 crore in various projects across Jharkhand by 2028.
India's Q1 oil import bill up 61%: What's the reason?
India's crude oil import bill surged by a whopping 61% to $49.8 billion in the April-June period, compared to the same period last year.
You can soon make UPI payments without internet
The National Payments Corporation of India (NPCI) is working on a new feature for Unified Payments Interface (UPI), that would allow users to make payments at merchant point-of-sale terminals without an internet connection.
Anthropic's $1.5B copyright settlement with authors has been approved
Anthropic, a leading artificial intelligence (AI) company, has received final approval for its $1.5 billion settlement with authors over copyright infringement.
Paramount's $110B merger with Warner Bros has been temporarily paused
The proposed $110 billion merger between Paramount Skydance and Warner Bros. Discovery has been temporarily halted by a US federal judge.
Why AliExpress has been fined record €550m by EU
The European Commission has slapped a record fine of €550 million on Chinese e-commerce giant AliExpress.
Modi government won't scrap LTCG tax on equities anytime soon
The Indian government has confirmed that it has no plans to scrap the long-term capital gains (LTCG) tax on equity transactions.
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.
Why you can't catch a Kuwait Airways flight right now
Kuwait Airways has announced a major change in its flight schedule, owing to the closure of the country's airspace today.