Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Ratepayer Protection Act could make tech cover AI energy costs
A bipartisan bill, H.R. 9430, proposes requiring tech companies to cover energy and infrastructure costs for AI data centers, relieving local communities of financial burdens.
Global crude eases near pre United States and Iran tensions
Crude oil futures declined for the fourth straight session as improving supplies pushed prices near pre-war levels, with Brent at $72.86 and WTI at $69.33 on Thursday morning.
Sensex and Nifty rise 0.5% in India as VIX drops
Sensex and Nifty opened higher on Thursday, gaining 0.5% each, supported by easing crude prices, strong FII buying, and positive global cues boosting investor sentiment.
Sensex jumps 400 points as Nifty gains on oil fall
Indian stock markets soared on Thursday as Sensex jumped 400 points and Nifty crossed 24,100, driven by cooling oil prices below $73 per barrel and strong sectoral performance.
Rupee rebounds to 94.30 per dollar after Sanjay Malhotra remarks
The Indian rupee strengthened by 37 paise to 94.30/$, supported by falling crude oil prices and likely RBI intervention, even as the US dollar remained robust globally.
Semiconductor stocks surge over $400 billion after Micron, Qualcomm forecasts
Micron and Qualcomm's upbeat forecasts fueled a $400 billion surge in chip stocks, reflecting renewed investor confidence in AI-driven hardware and data center growth.
Indian rupee opens at ₹94.30 as oil nears $72
The rupee opened 37 paise higher at Rs 94.30 per dollar, supported by a sharp decline in Brent crude prices nearing $72 per barrel and RBI's market intervention.
Bengaluru-based Toddle plans $50 million to $100 million raise as edtech rebounds
Toddle is seeking $50-100 million in a managed fundraising round, signaling renewed investor interest in India's edtech sector after a prolonged downturn.
Qualcomm sets $15B data center target by 2029, stock surges
Qualcomm projects $15 billion in data center chip revenue by 2029, driven by AI-focused innovations and partnerships, boosting shares over 12% in after-hours trading.
Japan PM Sanae Takaichi unveils over ¥370tn plan for AI
Japan announced a 14-year, ¥370 trillion ($2.3 trillion) investment plan focusing on AI, semiconductors, and critical industries to boost growth and economic security.
AWS CEO Matt Garman: AI will transform not eliminate jobs
Amazon Web Services CEO Matt Garman asserts that AI will reshape jobs rather than eliminate them, as the company plans to hire 11,000 interns to foster young talent.
Pentagon awards Lockheed Martin up to $35B for THAAD production
Lockheed Martin has been awarded a $35 billion undefinitized contract by the Pentagon to increase production of THAAD interceptors, replenishing U.S. missile defense stockpiles.
Avience Biomedicals lists on NSE SME after 385.32x, ₹30.24cr IPO
Avience Biomedicals is set to debut on the NSE SME platform, with a grey market premium indicating a potential 62% listing gain over its issue price of Rs 208.
Crude oil dips under $70 on hopes of easing tensions
Crude oil prices fell below $70 per barrel as Iran-US peace efforts advanced, easing concerns over Gulf supply disruptions that had spiked prices during the recent conflict.
SK Hynix plans US ADR listing as shares jump 12%
Shares of SK Hynix jumped 12% after announcing plans to list ADRs in the US, aiming to raise 45.45 trillion won for capacity expansion and advanced equipment purchases.
Gold falls below $4,000 for 1st time since November 2025
Gold prices plunged below $4,000 per ounce for the first time since November 2025, driven by a stronger U.S. dollar and rising expectations of Federal Reserve rate hikes.
Zscaler CEO Jay Chaudhry says AI accelerates cybersecurity bug detection
Advanced AI models are transforming cybersecurity by rapidly identifying software vulnerabilities, creating unprecedented opportunities and challenges, says Zscaler CEO.
India seeks semiconductor investments at Pax Silica summit Washington D.C.
India seeks semiconductor investments and access to the US's $250-million seed fund at the Pax Silica summit, aiming to strengthen its chip manufacturing ecosystem.
InfoEdge shifts half startup capital into deeptech and AI
InfoEdge allocated nearly 50% of its startup investments to deeptech and AI in the past year, citing their transformative potential and strategic importance.
Pocket FM shuts Pocket TV to focus on audio dramas
Pocket FM is shutting its microdrama platform, Pocket TV, to refocus on audio dramas and global expansion, aligning with its profitability goals ahead of a potential IPO.
Indian deeptech startups prioritize revenue within 2 to 3 years
Indian deeptech startups are shifting focus to early commercialization within 2-3 years, leveraging initial revenues to attract investors and stay connected with customers.
State run banks sell dollars, Indian rupee recovers to 94.66
The Indian rupee closed at 94.66 against the dollar on Wednesday, recovering from an intraday low of 94.91 as state-run banks intervened, likely for the RBI.
JPMorgan warns IT sector slowdown, trims fiscal 2027 revenue forecasts
JPMorgan predicts growth challenges for IT firms over the next two years, citing generative AI-led deflation, geopolitical factors, and delayed deal closures as key hurdles.
Jio Platforms plans ₹35,000cr IPO to pay debt and grow
Jio Platforms' upcoming IPO, featuring a massive fresh issue, challenges India's decade-long OFS-dominated market trend by prioritizing business growth over investor exits.
Micron posts $41.46B revenue as stock jumps 16% after-hours
Micron shares soared 16% afterhours as Q3 revenue quadrupled to $41.46 billion, driven by a seven-fold growth in its data center business and robust demand across segments.
Vishal Sikka launches Hang Ten Systems with $32 million seed funding
Vishal Sikka, ex-Infosys CEO, has launched Hang Ten Systems, an AI-driven startup aiming to revolutionize IT services by automating enterprise software development and operations.
Maharashtra exempts IT, ITeS and data centers from electricity duty
Maharashtra has announced long-term electricity-duty exemptions for IT, ITeS units, and data centres to boost investments and expand the state’s digital infrastructure.
Cerebras Systems revenue jumps 94% to $193 million, shares tumble
Shares of AI chipmaker Cerebras Systems fell nearly 20% after its first earnings report post-IPO, as investors reacted to a narrower full-year gross margin forecast.
Micron Technology Q3 revenue $41.45 billion amid AI demand
Micron, the largest U.S. memory chip maker, saw its market cap skyrocket to $1.2 trillion as surging AI demand quadrupled its revenue and boosted profits to $28.2 billion.
IndiGo to trial OptiClimb AI advising takeoff speeds, saving 60-65kg
Indian airlines are leveraging AI to cut fuel costs, with IndiGo trialing the OptiClimb solution from today, aiming to optimize climb phases and reduce emissions.
India's new battery rules leave manufacturers scrambling over zinc-carbon mismatch
India's dry cell battery makers warn that new recycling mandates, designed for lithium-ion batteries, threaten their survival due to unviable compliance costs.
UK Wikimedia Foundation staff officially asked management to recognize union
UK-based Wikimedia Foundation staff have requested voluntary union recognition, citing concerns over transparency and organizational changes affecting workers.
Salesforce survey: 70% using AI for customer service see returns
70% of companies deploying customer service AI agents observe measurable value within 60 days, highlighting faster case resolutions and improved business outcomes.
Indian government panel to review SEZs with industry June 30, 2026
A government panel will meet industry leaders on June 30 to discuss boosting India's Special Economic Zones, focusing on free trade impacts and import substitution strategies.
Swiggy Instamart's COO and CBO have left the company
Swiggy's quick commerce division, Instamart, is witnessing a major leadership overhaul with the resignations of its Chief Operating Officer (COO) Ankit Jain and Chief Business Officer (CBO) Hari Kumar, as per Moneycontrol.
PFRDA launches 'Pension Sahayak' portal for NPS subscribers
The Pension Fund Regulatory and Development Authority (PFRDA) has launched an artificial intelligence (AI)-powered portal, 'Pension Sahayak.'
Trade deal with India 'very, very close,' says US official
The United States and India are "very, very close" to finalizing a landmark bilateral trade deal.
Noel Tata is stepping down as Trent chairman
Noel Tata has announced his decision to retire as the chairman of Trent Ltd bringing an end to his nearly three-decade-long association with the company.
Amazon Now to expand to 300 Indian cities
Amazon has announced plans to expand its ultra-fast delivery service, Amazon Now, to over 300 cities in India.
How one conversation led Kunal Shah to become WhatsApp's head
Meta Platforms Inc. has appointed Kunal Shah, the founder of fintech start-up CRED and one of India's most prominent angel investors, as the new global head of WhatsApp.
Korean chip giant SK Hynix is about to raise $29B
South Korea's chip giant, SK Hynix, is all set to raise a whopping $29.43 billion through American Depositary Receipts (ADRs) on the Nasdaq exchange.
BSNL is now looking for a chairman: How to apply
The Department of Telecommunications (DoT) has invited applications for the Chairman and Managing Director (CMD) position at state-owned Bharat Sanchar Nigam Ltd (BSNL).
Indian IT sector's Nifty share at record-low: What's the reason?
India's information technology (IT) sector is witnessing a major decline in its dominance on the country's stock market.
Adani to demerge its incubating businesses from FY28 onward
The Adani Group has announced plans to demerge its incubating businesses from FY28 onward.
TVS-Hyundai bet on AC electric autos with new ride-hailing service
TVS Motor Company and Hyundai Motor Company have expanded their partnership from vehicle development to mobility services.
Swarnagiri, India's first private gold mine, begins operations
Andhra Pradesh has inaugurated India's first private gold mining project, Swarnagiri (formerly Jonnagiri), in Kurnool district.
Sensex gains over 800 points: What's driving today's rally?
The Indian stock market witnessed a major surge today, with the Sensex rising by over 830 points to 77,030 and the Nifty gaining 219 points to 24,042.
SpaceX launches $25B debt sale for AI expansion
Elon Musk's SpaceX has launched a five-tranche notes offering to raise at least $25 billion. The move comes as the company looks for funds to support its capital-intensive artificial intelligence (AI) expansion.
Why Airbus is grounding multiple A380 aircraft
Airbus has announced plans to inspect 16 of its A380 aircraft, including five on an urgent basis.
Why UK has banned some Calvin Klein, Adidas ads
The UK's Advertising Standards Authority (ASA) has banned advertisements from fashion giants Calvin Klein, Adidas, and Uniqlo.
Why Alibaba is suing US government
Chinese tech and e-commerce giant Alibaba has sued the US government after being added to a Pentagon blacklist of companies allegedly linked to China's military.
Oil prices falls to 4-month low
Oil prices continued their downward trend on Wednesday, nearing the four-month lows seen in the previous session.
Adani AGM 2026: Gautam Adani shares strategy to be future-ready
At the Adani Group's 2026 Annual General Meeting (AGM), Chairman Gautam Adani unveiled a three-pronged strategy to strengthen execution, enhance efficiency, and improve workforce welfare.
Google parent Alphabet being added to Dow Jones stock index
Google's parent company, Alphabet, will be added to the Dow Jones Industrial Average stock index from June 29.
How Flipkart is expanding its quick-commerce push in India
Walmart-backed Flipkart has announced that its quick-commerce service, Flipkart Minutes, has established a network of 1,000 micro-fulfillment centers in less than two years.
How Tata Motors plans to make EV business profitable
Tata Motors Passenger Vehicles (TMPV) is gearing up to make its electric vehicle (EV) business profitable even after government subsidies are gone.
Gautam Adani announces big bets on nuclear power and AI
At the Adani Group's Annual General Meeting (AGM), chairperson Gautam Adani unveiled an ambitious plan for the future.
Realme India CEO quits
Michael Guo, the CEO of Realme India, has resigned from his position. The move comes as part of a major restructuring process within the company.
Nirav Modi ordered to pay $10.7M to Bank of India
A London court has ruled in favor of the Bank of India in a loan recovery case against Nirav Modi, holding the fugitive diamantaire liable to pay more than $10.7 million (over ₹100 crore) at current exchange rates.
Gold crashes 24% from record high: Should you buy?
Gold prices have witnessed a sharp decline, falling nearly 12% in the June quarter. This is on track to be the steepest quarterly fall since December 2016.
Why Swiggy has joined hands with Zerodha
Swiggy has partnered with Zerodha Fund House to enable its delivery partners to invest their earnings in mutual funds.
Rajesh Exports faces ED raids in Bengaluru
The Enforcement Directorate (ED) has launched a massive raid at multiple locations linked to Rajesh Exports Limited in Bengaluru.
Real estate firm Square Yards is India's latest unicorn
Square Yards, a real estate and mortgage platform, has become the latest entrant in India's unicorn club.
US stock futures decline as South Korean index crashes 10%
US stock futures plummeted by up to 2% on Tuesday, signaling a weak start for Wall Street.
Centre plans subsidized tomato sales as prices hit ₹92/kg
The Indian government is planning to sell tomatoes at subsidized rates through cooperative outlets, in a bid to cool the recent price surge.
Bharti Airtel increases stake in Africa subsidiary to 79%
Bharti Airtel has announced a major increase in its stake in Airtel Africa. The company now owns around 79% of the African subsidiary, up from 62.73% before the transaction.
From delivery boy to WhatsApp head: Kunal Shah's journey
Kunal Shah, the founder of fintech unicorn CRED, has been appointed as the global head of WhatsApp.
India's private sector growth slows to 3-month low
India's private sector growth slowed down in June, hitting a three-month low.
Why chairman, senior partners of KPMG Australia have resigned
KPMG Australia's Chairman Martin Sheppard and two senior partners, Paul Rogers and Eileen Hoggett, have announced their resignations.
Rafael Oliveira is 1st outsider to become Heineken CEO
Heineken has appointed Rafael Oliveira as its new Chief Executive Officer (CEO), in a major shift for the company.
Why Apple is facing an antitrust complaint in China
A group of 48 iOS developers has lodged a complaint against Apple with China's State Administration for Market Regulation.
Sony planning 1st US dollar bond sale since 1998
Sony is gearing up for its first US dollar bond sale since 1998.
Domino's Pizza appoints veteran Joe Jordan as CEO
Domino's Pizza has appointed Joe Jordan as its new chief executive officer (CEO), effective October 1.
Sensex tanks 900 points: What's behind today's selloff?
The Indian stock market witnessed a downturn on Tuesday, with the S&P BSE Sensex falling nearly 900 points and the NSE Nifty50 slipping below the 23,850 mark.
NPCI to enable e-mandate tracking on all UPI apps
The National Payments Corporation of India (NPCI) is working on a new feature to simplify the management of electronic mandates for consumers.
SEBI proposes direct market access for retail investors
The Securities and Exchange Board of India (SEBI) has proposed a major change in its technology regulations for stock exchanges and other market infrastructure institutions (MIIs).
SpaceX shares plunge 32% in 3 sessions, wiping out $600B
Elon Musk's SpaceX is facing a major setback on the Nasdaq, with its shares plummeting by 16% on Monday. This marks the third consecutive day of decline for the company.
Why Uber's board is being sued by shareholders
Uber's board of directors has been sued by shareholders for allegedly allowing the company to bypass compliance protocols.
EV maker Lucid cuts 18% of workforce
Lucid Motors, the Saudi-backed electric vehicle (EV) maker, has announced a major job cut.
US sanctions on Iranian oil suspended until August 21
The United States has issued a 60-day waiver on sanctions against Iranian oil, allowing the country to produce, export, and sell its crude until August 21.
India imposes 5-year anti-dumping duty on key chemical from China
India has imposed a five-year anti-dumping duty on a key chemical used in rubber and tire manufacturing.
Will Calcutta Stock Exchange make a comeback?
The West Bengal government has proposed a revival plan for the Calcutta Stock Exchange (CSE), which has been dormant for over a decade.
FIFA World Cup effect: JPMorgan employees can work from home
The FIFA World Cup is giving office workers an unexpected break by allowing them to work from home.
IIT Roorkee sets up ₹1,000cr fund for deep-tech start-ups
The Indian Institute of Technology (IIT) Roorkee has announced a ₹1,000 crore Super Endowment Fund in partnership with IvyCap Ventures and NuQuant.
'Eat faster or work longer': Viral lunch-break notice angers netizens
A controversial office notice has gone viral on social media, sparking widespread criticism and debate over workplace culture and employee rights.
This Nandan Nilekani-backed ₹2,500cr fund will support early growth-stage start-ups
Fundamentum Partnership, a venture capital firm co-founded by Infosys co-founder Nandan Nilekani and former Helion Venture Partners executive Sanjeev Aggarwal, is planning to launch its third fund.
₹4,225cr+ in penalties: How CCI is transforming businesses in India
The Competition Commission of India (CCI) has been cracking down on anti-competitive behavior with a vengeance, racking up penalties worth over ₹4,225 crore in 54 cases over the last five fiscal years.
Kunal Shah becomes WhatsApp head, Meta invests $900M in CRED
Meta Platforms has invested $900 million (approximately ₹8,550 crore) in Indian fintech start-up CRED during its Series H funding round.
Getty Images stock soars 200% on OpenAI partnership
Getty Images' stock price surged over 200% in premarket trading today, following the announcement of a partnership with OpenAI.