Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Trump administration subpoenas NYT reporters over presidential plane leak
The US Department of Justice has issued subpoenas to four journalists from The New York Times.
India-UK free trade agreement starts July 15 2026 removing duties
Indian professionals on temporary UK assignments will retain 25% of their salary as the Double Contribution Convention Agreement aligns with the India-UK FTA, effective July 15.
3 IPOs to open next week
The primary market is gearing up for a busy week, with three initial public offerings (IPOs) worth over ₹10,100 crore opening for subscription from July 14.
UBS: Global wealth rose 10.8% in 2025 while inequality widened
Global personal wealth surged by 10.8% in 2025, but the UBS Global Wealth Report highlights uneven gains, with median wealth declining in most markets despite rising averages.
TCS plans expansion of forward-deployed engineers amid AI disruption fears
Tata Consultancy Services (TCS) is gearing up to build a massive team of forward-deployed engineers (FDEs).
Mansukh Mandaviya announces EPFO shift to national CITES online platform
EPFO has transitioned to a centralised database under the CITES project, enabling faster claims processing, a unified digital interface, and enhanced transparency for members.
How Apple avoided semiconductor tariffs through Intel partnership
Apple managed to dodge semiconductor tariffs last year, thanks to a strategic deal with Intel.
India, Canada finish 3rd round of talks for trade deal
India and Canada have successfully concluded the third round of negotiations for their proposed Comprehensive Economic Partnership Agreement (CEPA).
Market valuation of India's top 4 firms rises by ₹92,995cr
The combined market capitalization of four of the top 10 most valued companies in India surged by a whopping ₹92,995.48 crore last week.
These FMCG companies reduced their Indian headcount in FY26
India's top fast-moving consumer goods (FMCG) companies have shown a mixed trend in their workforce for the fiscal year 2025-26.
This leading defence company plans to raise ₹3,322cr
Apollo Micro Systems, a leading player in the defense sector, has announced its plan to raise ₹3,322 crore through a preferential issue.
EPFO announces an amnesty scheme: How it helps you?
The Employees' Provident Fund Organisation (EPFO) has launched the Amnesty Scheme, 2026, a one-time opportunity for organizations with exempted Provident Fund (PF) trusts under the Income Tax Act, 1961.
FPIs reverse 4-month selling spree of Indian equities in July
Foreign portfolio investors (FPIs) have turned net buyers of Indian equities in July after four consecutive months of selling.
India's Russian crude imports hit new high in June
India's imports of Russian crude oil hit a record high in June, according to a report by the Centre for Research on Energy and Clean Air (CREA).
India's first geothermal power plant might be operational soon
State-run Oil and Natural Gas Corporation (ONGC) has taken a major step toward establishing India's first pilot geothermal power plant.
New IRCTC website to be launched this month: Ashwini Vaishnaw
The Ministry of Railways is gearing up to launch a beta version of the revamped Indian Railway Catering and Tourism Corporation (IRCTC) website.
TCS to deploy up to 8,900 engineers for AI integration
Tata Consultancy Services plans to build a team of up to 8,900 forward-deployed engineers and pursue AI acquisitions, focusing on client-centric integration and deployment.
HDFC Bank launches Neev generative AI to boost team workflows
HDFC Bank has launched ‘Neev,’ an in-house GenAI platform, to streamline AI development and enhance operational efficiency while ensuring regulatory compliance.
SBI Funds Management trims IPO size to ₹9,813cr
SBI Funds Management, India's largest asset management company, has reduced the size of its initial public offering (IPO) to ₹9,812.9 crore.
India-Canada conclude 3rd CEPA talks in Ottawa aiming for 2026
India and Canada completed the third round of CEPA negotiations in Ottawa, focusing on key trade issues, aiming to finalize the agreement by 2026 and boost bilateral trade.
HDFC Bank and Airtel lead ₹93,000cr market value surge
The market valuation of four top-10 firms rose by ₹92,995 crore last week, with HDFC Bank and Bharti Airtel leading the gains despite broader market declines.
DLF gives chairman Rajiv Singh 20% pay hike to ₹44.06cr
DLF Chairman Rajiv Singh's remuneration rose 20% to ₹44.06 crore in FY26, with ₹41.74 crore earned as commission, reflecting strong company performance and growth potential.
US judge questions Justice Department's dismissal of Adani case
A US federal judge has asked Indian billionaire Gautam Adani to clarify if he knows about any quid pro quo related to the Department of Justice (DOJ)'s decision to drop a criminal indictment against him.
Volkswagen CEO's restructuring plan rejected by key board members
Volkswagen AG's CEO Oliver Blume is facing major challenges in his efforts to revamp Europe's largest carmaker.
Tripura secures ₹10,000cr in investment proposals from Google, Salesforce
Tripura recently held the Destination Tripura Business Conclave 2026, which witnessed a huge response from investors and industry leaders.
Deloitte report: Automation reshapes Indian FMCG hiring and pay
India's leading FMCG firms are reducing permanent staff as automation in manufacturing, supply chain, and back-office operations gains momentum across the sector.
Bengaluru's Vimag Labs builds electric motors without rare earth magnets
Bengaluru-based Vimag Labs has developed software-defined magnet technology, eliminating the need for rare earth materials in EV motors and reducing dependency on China.
FPIs poured ₹15,157cr into Indian equities in July reversing outflows
Foreign investors turned net buyers in July, investing ₹15,157 crore in Indian equities, driven by improving domestic macroeconomic indicators and better global risk sentiment.
Netflix and Sony Pictures are interested in buying Letterboxd
Letterboxd, the popular social platform for movie lovers, is reportedly in talks with several potential buyers.
Meet Vinod Khosla, Indian-American billionaire behind $9.6B NFL team purchase
Indian-American billionaire Vinod Khosla and his wife Neeru Khosla are the new owners of the Seattle Seahawks.
Is Flipkart using deep discounts to favor select sellers?
The Forum for Internet Retailers, Sellers, and Traders (FIRST) has filed a new antitrust complaint against Flipkart with the Competition Commission of India (CCI).
Why Norwegian Air changed its Instagram logo to British Airways
Norwegian Air Shuttle has honored its friendly wager with British Airways after England's victory over Norway in the FIFA World Cup quarter-finals.
ONGC completes 2nd Puga Valley well toward pilot geothermal plant
ONGC has drilled its second geothermal well in Ladakh's Puga Valley, advancing plans to establish India's first 1-megawatt pilot geothermal power plant.
OpenAI's safety head departs amid leadership reshuffle
Johannes Heidecke, the Head of Safety Systems at OpenAI since 2024, has decided to leave the company.
OpenAI responds to Apple's trade secret theft allegations
OpenAI has issued a formal response to Apple's recent lawsuit, which accuses the artificial intelligence (AI) company of stealing trade secrets.
Maharashtra adds 51,700cr guarantees, off budget debt 1.81L/cr, CAG warns
Maharashtra's off-budget borrowings surged to ₹1.81 lakh crore in FY2025-26, raising concerns over fiscal transparency and breaching the FRBM Act's debt-to-GSDP ceiling of 25%.
US judge orders Gautam Adani sworn statement by July 15
A US judge has ordered Gautam Adani to submit a sworn affidavit addressing allegations of a potential quid pro quo linked to the dismissal of bribery and securities fraud charges.
SBI Funds Management cuts IPO to ₹9,812.9cr after ₹1,880cr sale
SBI Funds Management has cut its IPO size to Rs 9,813 crore after selling a 1.6% stake worth Rs 1,880 crore to marquee investors in a pre-IPO round.
India late-stage startups secure $3.8B, average $86 million checks H1 2026
Late-stage startup funding in India averaged $86 million per deal this year, driven by investments in AI, clean energy, and revenue-generating businesses.
Atanu Chakraborty earned ₹1cr in FY26, HDFC's annual report reveals
HDFC Bank's FY26 annual report has revealed the remuneration details of its former Part-time Chairman and Independent Director, Atanu Chakraborty.
SHEIN gets green light for Hong Kong IPO
Chinese ultra-fast fashion giant SHEIN has received approval for its long-awaited Hong Kong initial public offering (IPO).
India-focused equity funds have lost 60% foreign investment since 2024
Foreign investors have pulled out nearly 60% of their investments from India-focused equity funds, according to a report by Elara Capital.
Anil Ambani fraud case: ED attaches assets worth over ₹1,000cr
The Enforcement Directorate (ED) has attached assets worth ₹1,021 crore in a money laundering case against the Reliance Anil Ambani Group.
Over 1.7cr ITRs filed for FY26 so far
The Income Tax Department has announced that over 1.7 crore Income Tax Returns (ITRs) have been filed for the financial year 2025-26 so far.
New Zealand begins ratification process for FTA with India
The ratification process for the India-New Zealand Free Trade Agreement (FTA) has commenced in New Zealand, the Ministry of External Affairs (MEA) said today.
SEBI expands intraday borrowing rules for mutual funds from September
The Securities and Exchange Board of India (SEBI) has expanded the scope of intraday borrowings for mutual funds, effective from September 1, 2026.
EPFO's passbook portal back online ahead of interest credit
The Employees' Provident Fund Organisation (EPFO) has restored its Passbook portal after nearly two weeks of downtime.
Indian AI start-ups raised $1B+ in first half of 2026
Indian artificial intelligence (AI) start-ups have raised over $1 billion in funding during the first half of 2026.
Russia's diesel export ban triggers global price surge
Russia's recent ban on diesel exports has sent shockwaves through the global energy market, exacerbating existing fuel shortages and driving prices up.
Meta appeals landmark social media addiction verdict
Meta, the parent company of Instagram and Facebook, has appealed a landmark social media addiction lawsuit verdict in Los Angeles.
Bluesky appoints Toni Schneider as permanent CEO after interim stint
Bluesky, the social media platform that emerged as an alternative to Twitter (now X), has announced a major leadership change.
Why Swiggy Instamart has received 9 notices from FSSAI
Swiggy's quick-commerce platform, Instamart, has come under fire from the Food Safety and Standards Authority of India (FSSAI).
SK Hynix raises $26.5B in record US debut
SK Hynix, a leading South Korean memory chip manufacturer and major supplier to AI chip giant NVIDIA, has raised $26.5 billion (KRW 40 trillion) in its debut on the US stock market.
Oregon withdraws motion to delay $110B Paramount-Warner Bros. merger
Oregon's Attorney General has withdrawn its motion to delay the $110 billion merger between Paramount and Warner Bros.
Start-up of Bill Gates's daughter claimed sales it didn't drive
Phia, an advertising start-up co-founded by Phoebe Gates, the daughter of Microsoft co-founder Bill Gates, has been accused of violating affiliate marketing policies.
Greg Brockman consolidates more power at OpenAI
OpenAI's President and co-founder, Greg Brockman, is set to lead the company's key products after Fidji Simo's departure.
Apple sues OpenAI over alleged trade secret theft
Apple has filed a lawsuit against OpenAI, accusing the artificial intelligence company of stealing trade secrets and breaching contracts.
Equity MF inflows rebound to over ₹28,970cr in June
Equity mutual funds have witnessed a significant recovery in inflows for the month of June.
China bans helium exports
China has announced an immediate temporary ban on helium exports, a move that could further complicate the global semiconductor supply chain.
Akasa Air suspends Noida-Navi Mumbai flights 2 weeks after launch
Akasa Air has suspended its non-stop flights between Noida International Airport and Navi Mumbai International Airport, just two weeks after the service was launched.
AI boom is creating new class of private jet owners
The recent surge in wealth from artificial intelligence (AI) start-ups and SpaceX has led to a spike in demand for private jets.
Delhi HC denies Google interim relief in 'HINDWARE' trademark dispute
The Delhi High Court has denied interim relief to Google India in a trademark infringement case.
8th Pay Commission weighs proposal to cap top government salaries
The 8th Central Pay Commission (CPC) is currently deliberating on a range of proposals, including the contentious issue of salary caps for top-ranking government officials.
SK Hynix eyes $26.5B US listing amid AI chip surge
South Korea's memory chip manufacturer, SK Hynix, has announced its mega US listing.
You can now file your ITR on PhonePe and JioFinance
Fintech platforms PhonePe and JioFinance have launched in-app tax filing services in collaboration with TaxBuddy.
ONGC expands India's strategic oil reserves
State-owned Oil and Natural Gas Corporation (ONGC) has approved a major expansion of India's strategic oil reserves.
Disney+ president steps down to become Fubo CEO
Alisa Bowen, the current president of Disney+, is stepping down from her position to become the CEO of Fubo, the internet TV streaming service that is majority-owned by Disney.
Kusumgar IPO stays hot with 38% GMP on final day
Kusumgar's ₹650 crore initial public offering (IPO) is witnessing a strong response from investors on its third and final day of bidding.
News outlets seek court sanctions against OpenAI in copyright case
The New York Times and the Daily News have accused OpenAI of concealing evidence in a high-profile copyright case.
Sensex surges over 800 points: What's driving today's rally?
India's benchmark indices, Sensex and Nifty, witnessed a major surge on Friday.
OpenAI's AGI deployment chief steps down, citing health issues
Fidji Simo, the No. 2 executive at OpenAI, is stepping down from her full-time role and transition to a part-time advisory position instead.
After record rupee defence, RBI faces $100B challenge
The Reserve Bank of India (RBI) is facing a major challenge in unwinding its massive short dollar position without destabilizing the currency market.
Microsoft layoffs: What employees will receive in severance
Microsoft has announced a major layoff, with plans to cut around 4,800 jobs or about 2.1% of its global workforce.
Google appeals Indian court's keyword bidding ruling
Google has challenged an Indian court ruling that found it infringed trademark rights by allowing competitors to bid on a company's trademarked name as a keyword for advertising.
Reddit post claims AI replaced 90% of developers, sparks debate
A recent Reddit post has sparked a heated debate over the impact of artificial intelligence (AI) on software engineering jobs.
FII selling shows signs of easing amid lower oil prices
Foreign Institutional Investors (FIIs) have been on a selling spree in the Indian stock market, pulling out over $60 billion since September 2024.
Groww now offers regular mutual funds to Prime users
Groww, India's largest stockbroker by active users, has started offering regular mutual funds on its Groww Prime platform.
India to remain world's fastest-growing major economy: International Monetary Fund
India is set to retain its title as the world's fastest-growing major economy, with a projected growth rate of 7% in 2026, according to the International Monetary Fund (IMF).
Volkswagen faces union protests over potential 100,000 job cuts globally
Volkswagen, Europe's largest carmaker, is facing backlash from its employees over a proposal to cut up to 100,000 jobs and close several factories.