Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
RBI proposes 3-month MCLR moving average and 3-month reset period
The Reserve Bank of India has suggested a three-month reset period for MCLR-linked loans, aiming to enhance transparency and ensure quicker reflection of interest rate changes.
Horizon Industrial Parks leads 5 IPOs to raise 5,499.32 cr
India's IPO market gears up for a busy week as five companies aim to raise Rs 5,499 crore, while Shiprocket and four others prepare for their stock-market debut.
Maharashtra charity commissioner order may delay Tata Sons AGM
The Tata Sons AGM on August 18 may face adjournment as the Sir Ratan Tata Trust, holding a 23.56% stake, struggles to meet quorum requirements due to regulatory restrictions.
US appeals court upholds $562.5 million award for Devas Multimedia
A US appeals court affirmed a $562.5 million arbitral award against Antrix Corporation, ISRO's commercial arm, while sending enforcement issues back to a lower court.
Income Tax Department launches disclosure scheme starting August 16, 2026
The Income Tax Department launched a one-time disclosure scheme for small taxpayers to declare foreign assets up to ₹5 crore, effective August 16, 2026.
Warren Buffett's Berkshire raises Alphabet stake 83% to $37.8B
Berkshire Hathaway increased its stake in Alphabet by 83% in Q2, making it the third-largest holding in its $323.8 billion equity portfolio after Apple and American Express.
Narendra Modi unveils ₹1L cr fund to boost youth startups
Prime Minister Narendra Modi announced a Rs 1 lakh crore innovation fund on India’s 80th Independence Day to support young entrepreneurs and boost the startup ecosystem.
Modi wants 50 Indian firms in Fortune 500 by 2036
On Independence Day, Prime Minister Narendra Modi challenged Indian businesses to aim for global leadership in sectors like banking, pharmaceuticals, consulting, and technology.
Indian startups raise $151.5 million Aug 10 to 15 amid slowdown
Indian startups raised $151.5M across 14 deals, marking a 60% decline from last week's $383.8M. The week also saw two M&A deals and an ESOP buyback unicorn.
US: Customers can't file class-action lawsuits against Amazon anymore
Amazon has reintroduced binding arbitration for its US customers, effectively barring them from filing class-action lawsuits.
Stripe and Advent International in talks to acquire PayPal
PayPal, the leading digital payments company, is said to be in talks with a consortium of investors, including Stripe and private equity firm Advent International for a sale.
Indian government launches foreign assets disclosure scheme offering conditional immunity
The government has introduced a limited-time scheme for taxpayers to declare undisclosed foreign assets and income, with eligibility thresholds set at ₹1 crore and ₹5 crore.
PM Modi sets 50 Indian firms Fortune 500 goal 2036
On Independence Day 2026, PM Modi urged India Inc to aim for global leadership, challenging 50 Indian firms to enter the Fortune 500 list within a decade.
Narendra Modi announces free trade agreements with 40 countries
India has finalized free trade agreements with 40 countries, showcasing its growing economic influence and commitment to strengthening global market engagement.
In Independence Day speech Narendra Modi expects 5-8 semiconductor plants
India is set to establish 5-8 new semiconductor plants within 7-8 years, as per PM Modi, bolstering the nation's self-reliant chip manufacturing ecosystem.
Amazon mandates arbitration for United States customers, small claims available
Amazon has reinstated binding arbitration for U.S. customers, barring class-action lawsuits and requiring disputes to be resolved privately or in small claims court.
Apple seeks court-supervised talks with Epic Games, proposes tiered fees
Apple has requested court-supervised settlement talks with Epic Games after its initial proposal was rejected, signaling a potential resolution in their ongoing app store dispute.
Washington judge labels Kalshi illegal, orders geofence and $120,000 fines
A Washington state judge ruled Kalshi’s operations as illegal gambling, ordering the platform to geofence by Sept. 2, 2026, or face daily penalties of $120,000.
Donald Trump expected to meet about crypto, prediction markets, AI
President Donald Trump is anticipated to join a White House innovation meeting next week, featuring crypto, AI, and prediction market CEOs alongside top financial industry leaders.
Jane Street loses $15B in July, 1st slump in decade
Jane Street reported a $15 billion loss in July, its first monthly downturn in a decade, driven by AI hedge fund struggles and missteps in Asian equity markets.
BBC seeks Trump family testimony in Donald Trump's $10bn suit
The BBC is pursuing court approval to subpoena Donald Trump Jr, Ivanka Trump, and Jared Kushner in a $10 billion defamation case over its editing of Trump's 6 January speech.
Swiggy Instamart and Blinkit in talks for 30-minute appliance deliveries
Quick commerce firms are collaborating with manufacturers to enable faster delivery of large appliances, aiming to meet evolving consumer demands and boost average order values.
India cuts windfall taxes on diesel, petrol and ATF exports
India has reduced windfall taxes on petrol, diesel, and aviation fuel exports, with petrol duty now at zero and revised rates effective from Saturday.
Race to succeed Natarajan Chandrasekaran as Tata Sons chairman begins
The race to succeed Natarajan Chandrasekaran as the chairman of Tata Sons has begun, with a mix of senior executives and family members in the fray.
Musk's pay 2.5M times higher than average Tesla worker's
A report by the AFL-CIO, America's largest labor union federation, has revealed that Elon Musk's compensation at Tesla in 2025 was an astounding 2.5 million times more than that of an average employee at the company.
Russia supplies over 50% of India's oil imports in July
India's dependence on Russian crude oil has hit an all-time high, with imports from the country accounting for 50.83% of total imports in July or or 2.47 million barrels per day (bpd)
How Lakers' $12.5B sale came together in one weekend
The Los Angeles Lakers, one of the most iconic franchises in sports history, has been sold for a record-breaking $12.5 billion.
BSNL ₹1 plan offers unlimited calling, 1GB/daily data, 100 SMS
Bharat Sanchar Nigam Limited (BSNL) has reintroduced its ₹1 prepaid plan for new customers across all telecom circles.
Shiprocket IPO closes today, GMP signals 36% listing gain
Shiprocket, one of India's leading e-commerce enablement platform, has witnessed a stellar response for its IPO.
Zee shares jump 7% as SAT clears ₹3,143cr fundraise
Shares of Zee Entertainment Enterprises Ltd (ZEEL) jumped by 7% on Friday after the Securities Appellate Tribunal (SAT) provided interim relief in its case against the Securities and Exchange Board of India (SEBI).
India's wholesale inflation cools but stays near 10% in July
India's wholesale inflation has eased to 9.78% in July, down from June's 9.87%, according to data released by the Ministry of Commerce on Friday.
Musk owns 48.4% of SpaceX, stake worth over $900B
Elon Musk owns a whopping 48.4% of SpaceX, according to a regulatory filing. The stake is worth over $900 billion at current market prices.
Trump slaps 100% tariffs on drones and aircraft component imports
US President Donald Trump has announced a major tariff hike on the existing import of drones and unmanned aircraft systems (UAS) components.
Technocraft Ventures debuts at 34% premium over IPO price
Technocraft Ventures, an infrastructure development company, has made a strong debut on Dalal Street.
OpenAI revenue nearly doubles to $40 billion
OpenAI, the company behind ChatGPT and Codex, has seen its annualized revenue run rate exceed $40 billion. The figure is nearly double what it was at the end of 2025.
OpenAI sees 2nd major executive departure in a week
OpenAI's Chief Revenue Officer, Denise Dresser, has announced her resignation after a brief stint with the company. The move comes as part of a wave of high-profile departures from the ChatGPT-maker.
Chipmaker CXMT becomes China's most valuable company
CXMT Corp. has surpassed Tencent Holdings to become the most valuable Chinese company in the world.
Fintech start-up Navi taps banks for $315M IPO
Fintech start-up Navi Ltd. is gearing up for an initial public offering (IPO) in India, with plans to raise as much as ₹30 billion ($314 million), according to Bloomberg.
Lenskart shares hit 52-week high after strong Q1 results
Lenskart Solutions Ltd. has witnessed a surge in its share price, hitting a new 52-week high of ₹626.95 per share today.
How much oil does India have in strategic reserves?
India imports over 85% of its crude requirements, making it vulnerable to disruptions in global supply chains.
Apple sued for misleading users about iCloud+ privacy benefits
Apple is facing a proposed class-action lawsuit in California.
Blinkit, Zepto, Instamart face scrutiny over delivery algorithms
The Department-Related Parliamentary Standing Committee on Commerce has recommended strict guidelines to regulate the use of algorithms in quick-commerce.
Delhi HC questions Meta's copyright policy amid dispute
The Delhi High Court has questioned Meta's policy for granting access to its copyright-protection tool on Facebook and Instagram.
Anthropic poised to make its largest acquisition yet
Anthropic PBC is reportedly in talks to acquire artificial intelligence (AI) start-up Decart AI.
Tata Sons's $120B investment strategy at risk after Chandrasekaran's exit
The resignation of Natarajan Chandrasekaran as chairman of Tata Sons has raised questions over the conglomerate's $120 billion investment strategy.
India plans anti-theft feature for hallmarked gold jewelry
The Indian government is mulling a system to prevent the sale of stolen gold jewelry.
Paytm CEO, CFO get SEBI notice over 2023 loan disclosure
Paytm's senior management, including CEO Vijay Shekhar Sharma and CFO Madhur Deora, have received a show cause notice from the Securities and Exchange Board of India (SEBI).
Shiprocket IPO fully subscribed, GMP jumps to 35%
Shiprocket's initial public offering (IPO) has been fully subscribed on the second day of bidding, according to data from the National Stock Exchange (NSE).
Trump sued over paid early access to Truth Social posts
President Donald Trump has been sued over the controversial sale of early access to his posts on Truth Social.
India nearly doubles planned coal mining capacity
India has almost doubled its proposed coal mining capacity from 329 million metric tons per annum (mtpa) in 2024 to a whopping 638 mtpa in 2025.
American Airlines reshuffles senior management to close profit gap
American Airlines is undergoing a major senior management reshuffle in a bid to close the profit gap with its competitors, Delta and United.
Gates' daughter faces 20 years in prison over 'cookie stuffing'
Phoebe Gates, the 23-year-old daughter of Microsoft co-founder Bill Gates, has been accused of "cookie stuffing" at her start-up Phia.
SEBI plans easier rules for SME IPO listings
India's market regulator, the Securities and Exchange Board of India (SEBI), is considering major changes to its listing rules.
Gold prices surge to 2-month high as US inflation cools
Gold prices have surged to a two-month high, following signs of cooling consumer inflation in the United States.
Eternal shares jump on MSCI weight boost, $674mn inflows
Eternal Ltd, a leading player in the quick commerce and food delivery sector, is set to witness a massive inflow of capital. The development comes as a result of an increase in its weightage in the MSCI Standard Index.
US inflation cools to 3.4%: Is a rate cut coming?
US inflation has eased a bit, with consumer prices rising 3.4% year-on-year in July, slightly lower than the 3.5% increase recorded in June.
Musk-owned Cursor to set up India office by 2026-end
Cursor, an artificial intelligence (AI) coding start-up that is being acquired by Elon Musk's SpaceXAI, plans to set up its first office in India by the end of this year.
How Tata Sons will choose next chairperson after N Chandrasekaran
N Chandrasekaran's resignation as the Chairman of Tata Sons has triggered a high-profile succession process in corporate India.
Foxconn's Q2 profit jumps 35% YoY to $1.8B
Taiwanese tech giant Foxconn, the world's largest contract electronics manufacturer, has reported a whopping 35% surge in its second-quarter profit.
Bill Gates's daughter knew her start-up was 'cookie stuffing'
Phia, the shopping start-up co-founded by Bill Gates's daughter Phoebe Gates and Sophia Kianni, is under fire for its controversial business practices.
China's answer to Boeing, Airbus makes first international flight today
China's state-owned Commercial Aircraft Corporation of China (Comac) is gearing up for a major milestone in commercial aviation.
Sensex down over 650 points today: What's the reason?
The Indian stock market has witnessed a major slump for the second consecutive session today.
Oracle set to lay off employees again this month: Report
Oracle is preparing for another round of layoffs this month, as part of its strategy to cut payroll costs.
Shiprocket IPO opens with 31% GMP: Should you subscribe?
Shiprocket, one of India's leading e-commerce enablement platform, has opened its initial public offering (IPO) for subscription today.
Ambanis remain India's richest business family
India's leading family businesses have surpassed Saudi Arabia's gross domestic product (GDP) in terms of valuation, according to the 2026 Barclays Private Clients Hurun India Most Valuable Family Businesses list.
Tata shares down by 4% after Chandrasekaran resigns as chairman
Shares of Tata Group companies fell up to 4% today after N Chandrasekaran resigned as Chairman of Tata Sons.
N Chandrasekaran steps down as Tata Sons chairman
N Chandrasekaran has resigned as the chairman of Tata Sons, ending a nearly decade-long term.
Accenture asks staff to delay vacations amid sales push
Accenture has asked its employees to postpone their vacations and carry over unused leaves into the next financial year, a Bloomberg report said.
Oil prices near $90 as doubts over US-Iran deal grow
Oil prices witnessed a surge on Wednesday morning, amid fears of supply disruptions in the Middle East.
Phuket-Delhi flight mishap: Air India pilot tests positive for marijuana
The pilot-in-command of an Air India flight that experienced sudden altitude drop, injuring 17 people, has tested positive for marijuana, as per The Indian Express.
Will BRICS countries link their payment systems?
The BRICS group of nations is considering the integration of their fast payment systems and central bank digital currencies (CBDCs).
TCS, Google to set up Gemini Experience Center in Mexico
Tata Consultancy Services (TCS) and Google Cloud have announced the establishment of a new Gemini Experience Center (GEC) in Mexico City.
TSMC, Sony invest $4.7B to build next-gen smartphone cameras
Taiwanese semiconductor giant TSMC and Japanese tech conglomerate Sony have announced a joint venture worth $4.69 billion.
Igor Babuschkin's River AI raises $1.1B to build personal agents
River AI, a full-stack artificial intelligence (AI) company founded by xAI co-founder Igor Babuschkin, has raised $1.1 billion in funding.