Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
SoftBank backed OPay raises $304 million in US IPO valued $4B
OPay, a fintech firm focused on emerging markets, raised $304 million through its US IPO, valuing the company at approximately $4 billion.
Asian Paints Q2 profit up 7.5% to ₹1,067.6 cr
Asian Paints reported a 7.5% year-on-year increase in consolidated profit to Rs 1,067.6 crore for the September quarter, with net sales rising by 16.9% to Rs 9,953.9 crore.
India's H1 FY2026-27 fiscal deficit 7.14L/cr is 42.1% of target
India's fiscal deficit reached Rs 7.14 lakh crore, or 42.1% of the annual target, for April-September, up from 36.5% in the same period last year.
Nasdaq futures slide after Amazon misses EPS and Intel warns
Nasdaq futures are plummeting as tech giants like Amazon and Intel face earnings disappointments, while Binance grapples with a $6.3 billion crypto hack, the largest in history.
Amazon CEO Andy Jassy says Meta's Muse adds little value
Amazon CEO Andy Jassy argues that Meta's AI shopping assistant does not yet offer a superior shopping experience compared to traditional retail platforms.
European blue-chips Q3 profits up 23.6% as energy surges 139%
European blue-chip companies are poised for their second-strongest quarterly earnings growth in four years, driven by robust energy sector profits amid rising oil prices.
Indian Overseas Bank plans 5,000cr QIP amid 18,000cr loan requests
Indian Overseas Bank anticipates robust corporate lending, supported by an ₹18,000-crore loan pipeline and recent disbursements of around ₹20,000 crore in the past six months.
Commerce and Industry Minister Piyush Goyal says AI persists
Commerce and industry minister Piyush Goyal asserts that despite fears of an AI bubble, the technology will persist, with India poised to become a leader in creating AI agents.
Binance $6.3B hack tied to TraderTraitor after possible DevOps compromise
Hackers accessed Binance wallets across ten networks, stealing $6.3 billion in digital assets, with North Korean-linked groups suspected of orchestrating the attack.
Sam Altman denies 2026 IPO, Anthropic readies November 2026 debut
Wall Street executives anticipate OpenAI's IPO in early 2027, despite the company's public denial of imminent plans amid Anthropic's upcoming $2 trillion valuation offering.
Tata Sons injects ₹1,100cr into Tata Electronics for iPhones, chips
Tata Sons has invested Rs 1,100 crore into Tata Electronics to bolster its Apple iPhone and semiconductor manufacturing operations, following a previous Rs 1,500 crore infusion.
Aditya Birla Capital Q2 FY27 profit rises 38% to ₹1,288cr
Aditya Birla Capital's net profit surged 38% to ₹1,288 crore in the September quarter, driven by robust performance across its diverse business segments.
Global markets jitter after Alphabet stock hit and AI concerns
Global stock markets exhibited varied performances, with Alphabet's stock drop heightening concerns about artificial intelligence, impacting US and Asian indices differently.
GMDC profits fall 63.3% to 170.79cr with income at 986.78cr
Gujarat Mineral Development Corporation reported a 63.3% decline in consolidated profit to ₹170.79 crore for the July-September quarter, despite increased total income.
India's SIM binding rule could hinder SMEs' messaging across devices
India's small businesses may face increased operating costs and disruptions due to the Department of Telecommunications' SIM-binding directive, a study by Esya Centre reveals.
Network18 posts 28.67% Q2 FY27 profit rise with ₹544.67cr revenue
Network18 Media & Investments reported a 28.67% increase in consolidated net profit to ₹53.08 crore for the September quarter of FY27, driven by content studio growth.
Ajanta Pharma Q2 FY27 profit rises 49% to ₹388 cr
Ajanta Pharma reported a 49% increase in net profit to ₹388 crore for Q2 FY27, with revenue rising 32.5% year-on-year to ₹1,794.2 crore.
Asian chip firms see AI server demand amid investor worries
Asian chip-supply-chain companies report robust demand for AI products, despite investor concerns about the sustainability of returns on massive AI infrastructure investments.
UK house prices rise 0.5% annually in October to £273,566
UK house prices increased by just 0.5% annually in October, marking the slowest growth in over two years as mortgage rates reached a three-year high of 6%.
IIT Guwahati and Tata Electronics open semiconductor Centre of Excellence
IIT Guwahati and Tata Electronics have partnered to establish a Centre of Excellence for semiconductor education, aiming to develop industry-ready professionals.
Foxconn says OpenAI collaboration would build on last year's deal
Foxconn announced a potential collaboration with OpenAI, emphasizing confidence in sustained growth and dismissing fears of an AI industry bubble.
ICICI Securities raises BlackBuck target to ₹675 and recommends buy
ICICI Securities has issued a buy rating for BlackBuck, setting a target price of Rs 675, citing strong growth in core businesses and improved subscription revenue outlook.
ICICI Securities gives Hero MotoCorp buy rating with ₹6,000 target
ICICI Securities recommends a buy rating on Hero MotoCorp, setting a target price of Rs 6000, citing strong scooter portfolio traction and export market recovery.
RBI asks banks to disclose cybersecurity measures with fintech partners
India's central bank is increasing scrutiny on banks' cybersecurity measures following a rise in sophisticated AI-driven cyberattacks targeting financial infrastructure.
ICICI Securities gives Suzlon Energy buy rating, ₹55 target
ICICI Securities recommends a buy on Suzlon Energy, setting a target price of Rs 55, citing strong order book growth and improving operational leverage despite current profit lags.
India's 10-year yield falls to 7.3837% mutual funds buy 4,000cr
India's benchmark 10-year bond is poised for its first weekly rise in 11 weeks, ending a record losing streak as yields ease amid mutual fund inflows and a softer Fed tone.
France's economy slips 0.1% in Q3 2026 as exports fall
The French economy unexpectedly contracted by 0.1% in the third quarter, driven by a significant drop in exports, particularly in transport equipment.
Noel Tata proposes Tata Sons reorganization, ₹25,000cr Shapoorji Pallonji payout
Noel Tata has requested the Tata Sons board to vote on a reorganisation plan and a ₹25,000 crore payout to the SP Group at its upcoming meeting.
Foxtale revenue almost doubled to ₹383 cr in FY26
Foxtale, founded by Romita Mazumdar in 2021, reported operating revenue of Rs 383 crore for FY26, nearly doubling from Rs 199 crore the previous year.
BP posts $8.46bn profit, beats forecasts amid Middle East conflict
BP reported a significant rise in quarterly profits, driven by increased oil refining margins due to the ongoing conflict in the Middle East impacting global energy markets.
SBI report finds 45.6% Indian households use digital payments
Around 45.6% of Indian households now use digital channels for at least one purchase, highlighting a growing trend in online shopping and payments.
Etherscan labeled wallet sells FUNToken on Uniswap, token crashes 90%+
A Binance hacker sold off large amounts of FUNToken on Uniswap, causing its price to plummet over 90% due to insufficient market liquidity.
India's diesel exports reach 700,000 bpd amid global crunch
India's diesel exports surged to a 12-month high of 2.90 million tonnes in October 2026, driven by global supply disruptions and record-high refinery runs.
India's private equity and venture capital reach $17.1B, up 46%
Private equity and venture capital investments in India soared to $17.1 billion in the third quarter of 2026, marking a 46% increase from the same period last year.
India Belgium Luxembourg seek to resolve market access for investment
India, Belgium, and Luxembourg are exploring enhanced cooperation in fintech, clean energy, and aerospace to strengthen trade and investment relations across key sectors.
Foxconn eyes 50% global AI server market while holding 40%
Foxconn plans to capture 50% of the global AI server market within a couple of years, with its production capacity fully booked and U.S. manufacturing expansion underway.
Blue Owl, Ares Management, KKR invest in AI data centers
Wall Street's leading alternative asset managers are heavily investing in AI infrastructure, focusing on long-term leases with creditworthy tenants to ensure stable returns.
Nifty 50 crosses 23,100 as IT, Trent shares rally
Nifty surged past the 23,100 mark as IT stocks led a mid-session rally, with Trent soaring over 6% amid broad market recovery on October 30, 2026.
Fifth Circuit reopens Eyemart Express case over Meta data sharing
A federal appeals court has revived a lawsuit against Eyemart Express, alleging it shared customers' prescription details and eye-exam activity with Meta without consent.
Proton to stop hiring engineers and pivot development to AI
Proton plans to cease hiring engineers and instead utilize AI for product development, as CEO Andy Yen outlines a shift towards AI-driven operations starting next year.
Sensex gains over 550 points: What's behind today's rally?
India's benchmark indices, the Sensex and Nifty, have bounced back from their earlier losses to trade in the green on October 30. The recovery is due to various reasons, including buying in IT shares.
McKinsey report: India 2nd-biggest AI shopping market, 76% use AI
India ranks second globally in AI-powered shopping, with 76% of consumers using AI tools for product searches and purchase decisions, according to a McKinsey report.
Starbucks India cuts FY26 losses 27% as revenue hits ₹1,367cr
Starbucks India has reported a modest 7% year-on-year growth in its revenue from operations for fiscal year 2026 (FY26).
Eris Lifesciences outpaces Novo Nordisk in semaglutide prescriptions with Sundae
Ahmedabad-based Eris Lifesciences has become a leading player in India's semaglutide market by focusing on diabetes treatment, outpacing larger competitors with its brand Sundae.
Hinduja Housing Finance appoints Vivek Kannan CEO after Sachin Pillai
Hinduja Housing Finance has appointed Vivek Kannan as its new Chief Executive Officer, following Sachin Pillai's resignation from the role on October 29.
India's extreme poverty rate drops from 27.1% to 2.6% but....
India's extreme poverty rate has dropped to 2.6% in 2023 from the 27.1% recorded in 2011, according to the World Bank's October 2026 Poverty and Equity Brief.
Moneyview stock climbs over 30% in month since IPO
Moneyview shares have delivered over 30% returns to IPO allottees within a month, despite facing downward pressure from stretched valuations and rising credit risks.
Nifty IT climbs 2.5% as global AI stocks tumble
The Nifty IT index rose 2.5% as global AI-linked stocks declined, with Indian IT firms seen as defensive plays; strong Q3 results from Cognizant further boosted sector sentiment.
Government launches National Social Security Board for gig-platform workers
The Ministry of Labour has established the National Social Security Board, including gig workers, to address social security gaps and implement welfare schemes.
Supreme Court brings in Ranjana Prakash Desai for gas mediation
The Supreme Court has appointed former judge Ranjana Prakash Desai to mediate the Krishna-Godavari basin gas migration dispute between the Centre and a Reliance-led consortium.
Andy Jassy: AWS could reach $1T revenue in 5-10 years
Amazon CEO Andy Jassy envisions AWS as a trillion-dollar revenue business, but achieving this goal requires substantial capital investment to expand its cloud infrastructure.
India announces tax holiday for foreign cloud providers until 2046-47
India's data centre tax holiday is attracting global cloud players, but the absence of operational rules could hinder swift investment conversions.
Retail investors borrow ₹2,227cr for Jio Platforms's stock debut
Retail investors borrowed ₹2,227 crore using margin trading facilities to purchase Jio Platforms shares on its debut, marking it as one of the top five stocks for broker funding.
Amazon reports $42.4B cash outflow as AI spending surges
Amazon has reported a massive cash burn in Q3.
Bank of Japan hits 2% inflation, holds 1.25% rate
The Bank of Japan has achieved its 2% inflation target after 13 years, maintaining the benchmark interest rate at 1.25% amid persistent inflation and yen weakness.
Crude oil prices hit 6-month high of $118
Oil prices surged on October 30, amid fears of a possible US military strike against Iran.
Binance breach forces $1.53 billion liquidations with 83.8% long positions
A massive selloff in cryptocurrencies, including Bitcoin and Ether, led to $1.53 billion in leveraged positions being liquidated following a security breach at Binance.
Sridhar Vembu urges India to close business schools for incubators
Sridhar Vembu, Zoho founder, argues for shutting down business schools in India to prioritize startup incubators and entrepreneurship over traditional management education.
eMudhra hires KPMG after regulatory filing on compromised private keys
eMudhra has enlisted KPMG to conduct an independent review following the discovery of weak private keys in its digital certificates, prompting industry-wide scrutiny.
India's credit card spending falls for first time since 2021
Credit card spending in India fell by 5.9% year-on-year (YoY) to ₹2.04 lakh crore in September 2026.
China's CSI300 index hits 1-year low amid AI-related stock pullback
China's CSI300 index hit a one-year low, marking a 12-week losing streak, as global AI stock selloffs pressured technology shares, while Hong Kong's Hang Seng Index advanced.
Meta loses appeal in French court over news content transparency
Meta Platforms has lost its appeals in the Paris Court of Appeals against interim measures imposed by French regulators concerning media organisations' publishing rights.
ECB plans December hike to curb energy-led inflation, may pause
The European Central Bank plans a December rate hike to combat energy-led inflation, but may pause further increases as rising bond yields threaten economic growth.
Brent above $115 as U.S.-Iran tensions spark US strike fears
Brent crude remains elevated, trading above $115 a barrel, as markets react to potential US military action against Iran.
Microsoft launches $25B bond sale to fund AI expansion
Microsoft is planning its first US investment-grade bond sale in over nine years, with an aim to raise about $25 billion.
HDFC Bank shares at ₹682.70 after a small 0.09% drop
HDFC Bank shares slipped marginally on Friday, closing at ₹682.70, down 0.09% from the previous close, amid a turbulent week marked by a fresh 52-week low and leadership changes.
CFTC investigates Polymarket over 2022 deal banning US users
US regulators are investigating whether Polymarket violated a 2022 settlement by allowing US users on its overseas platform, according to sources familiar with the matter.
Emkay Global Financial recommends Pine Labs buy at ₹220
Emkay Global Financial recommends a buy on Pine Labs, setting a target price of Rs 220, citing strong revenue growth and strategic investments despite rising costs.
Nikkei 225 falls 3% amid AI profitability doubts, chip selloff
Japanese shares dropped sharply as AI investment concerns triggered a global tech sell-off, while the Bank of Japan maintained its policy rate at 1.25%.
Indian stocks mostly flat as Sensex inches up 6.15 points
The stock market remained largely flat as gains in IT stocks balanced the pressure from rising crude oil prices and broader market weaknesses.
Starbucks India posts 7% FY26 revenue rise to 1,367cr
Starbucks India reported a revenue of Rs 1,367 crore in FY26, marking a 7% increase, while successfully reducing its net loss by 27% to Rs 99 crore.
Cryptocurrency prices crash as Binance probes $6B hack
Cryptocurrency prices have taken a hit after Binance, the world's largest crypto exchange, flagged a possible security breach.
One Planet Partners and SMTB invest over ₹3,000cr in India
One Planet Partners, an India-focused private equity firm, plans to deploy over ₹3,000 crore in high-growth mid-market businesses across energy, mobility, and manufacturing.
Nasscom urges government to delay 5% GST on e-commerce deliveries
Nasscom has requested the Finance Ministry to postpone the revised GST framework for e-commerce delivery services to January 1, 2027, citing insufficient preparation time.
Four SME IPOs launch October 30 to raise ₹201 cr
Four SME IPOs, including Maxwell Engineering and HGS India, will open on October 30 to collectively raise Rs 201 crore through public issues.
Zoho CEO Sridhar Vembu urges reskilling for AI-era computer workers
Sridhar Vembu emphasizes that only individuals with meta-level skills can effectively harness AI, as these abilities are crucial for maximizing productivity in modern workplaces.
Oil prices jump after Trump briefed on Iran military options
Crude oil futures rose on Friday following reports of potential US military action against Iran, with Brent and WTI prices increasing over 1% amid escalating West Asian tensions.
Walmart investigates Flipkart staff over alleged ₹150cr in brand favors
Walmart, the US retail giant and parent company of Flipkart, has launched an internal investigation into alleged financial misconduct at the Indian e-commerce company, Moneycontrol reported.
Noel Tata and N Chandrasekaran meet, talks end unresolved
Noel Tata and N Chandrasekaran held a meeting on October 25 to address leadership differences, but discussions ended without resolution, according to The Economic Times.
Binance hack affects $6.3 billion and halts deposits and withdrawals
Binance, the largest crypto exchange, experienced a security incident affecting $6.3 billion in assets, prompting temporary suspension of deposits and withdrawals.
Prime Video profitable and on track for tens of billions
Amazon CEO Andy Jassy announced that Prime Video is set to generate tens of billions in annual revenue, highlighting its profitability and significant growth.
BOJ hold lifts yen 0.24% to 157.34 per US dollar
The yen strengthened by 0.24% to 157.34 per dollar after the Bank of Japan maintained interest rates, signaling a potential return to its haven status amid market stress.
NVIDIA weighing credit guarantees for nScale's Anthropic West Virginia center
Nvidia is negotiating to provide billions in credit guarantees to Nscale, aiding debt funding for a West Virginia data center intended for Anthropic's AI operations.
Brent crude nears $118 after Houthis attacked Saudi oil refineries
Brent crude prices have surged to nearly $118 per barrel due to geopolitical tensions, significantly impacting India's oil import bill and economic growth projections.
Bank of Japan holds 1.25% rate as inflation reaches 2%
Japan's central bank maintained its interest rate at 1.25% but hinted at a potential December hike as inflation reaches the 2% target.
AM Intelligence seeks $3 billion to buy NVIDIA AI chips
AI infrastructure firm AM Intelligence aims to raise $3 billion to fund its purchase of Nvidia's next-generation chips, highlighting the ongoing AI-driven debt surge.
India's services output rose about 14% with broad August growth
India's services sector saw robust expansion in August, with 17 out of 19 segments growing and 13 achieving double-digit gains, led by retail trade at 19.9% growth.
Oil tops $115 after Yemen's Houthi attacks on Saudi installations
Brent crude futures climbed to $115.74 a barrel as Houthi attacks on Saudi energy infrastructure heightened concerns over potential supply disruptions in the Gulf region.
Walmart opens probe into Flipkart after whistleblower alleges ₹150cr kickbacks
Walmart is investigating Flipkart employees for allegedly receiving kickbacks over Rs 150 crore, marking the third internal probe in less than three years.
Amazon forecasts $240 to $247B holiday revenue, AWS grows 39%
Amazon.com anticipates fourth-quarter revenue between $240 billion and $247 billion, falling short of Wall Street's average estimate of $244.51 billion.
Axis Bank changes AMB shortfall fee to 6% capped ₹600
Axis Bank will implement a new fee structure for savings and salary accounts starting December 1, 2026, affecting various charges and requirements.
Coal India posts ₹6,547cr September quarter net profit, up 57%
Coal India Ltd reported a 57% increase in net profit to ₹6,547 crore for the September quarter, driven by a 21% rise in revenue from operations to ₹44,179 crore.
NIIT buys Bluewater Learning up-to $17.6 million, Sagility India block ₹2,377cr
NIIT Learning acquires Bluewater Learning for $17.6 million, while Sagility B.V. plans to sell a 12% stake in Sagility India through a block deal worth ₹2,377 crore.
Amazon stock falls over 7% after Q3 2026 profit miss
Amazon's shares fell over seven percent after quarterly earnings missed expectations, despite strong growth in its AWS cloud division, highlighting challenges across other sectors.
Reddit shares drop 18% after Steve Huffman reveals login limits
Reddit shares dropped 18% after announcing limited platform access and a revenue outlook below expectations, sparking concerns about declining traffic and user engagement.
Polymarket pauses international exchange after data provider hack, promises refunds
Polymarket experienced an outage on its international platform due to a hack of a third-party provider, leading to unauthorized withdrawals and a temporary trading halt.
Suzlon Energy Q2 FY27 revenue up 26% to ₹4,869 cr
Suzlon Energy reported a 1.3% increase in net profit to ₹394 crore for Q2 FY27, with revenue from operations rising 26% year-on-year to ₹4,869 crore.
Rocco Basilico rejects $3.9 billion bid for 12.5% Delfin stake
Rocco Basilico, heir to the Ray-Ban fortune, declined a €3.5 billion ($3.9 billion) offer from his stepbrother Leonardo Maria Del Vecchio for his 12.5% stake in Delfin Sarl.
Kospi tumbles 3.96% as Asian markets end week lower
Asian equities fell on October 30, with South Korea's Kospi leading the losses at 3.96% lower, as technology shares continued to slide amid weaker-than-expected US earnings.
Gold near $4,000 as inflation, Fed signal and Mideast tensions
Gold prices held steady near $4,000 an ounce as persistent inflation increased the likelihood of a US interest rate hike before year-end.
Smartphone, TV brands reduce output about 20% after festive sales
Smartphone and television manufacturers are reducing production by up to 20% due to weak festive sales and excess inventory, with surging memory-chip costs impacting demand.
Adani Ports bids $3.3bn for Evos Terminals in Europe
Adani Ports has submitted a binding $3.3 billion bid for Evos Terminals, aiming to expand its global presence and strengthen its energy-transition infrastructure portfolio.
Amazon reports $201.94B revenue, EPS miss sends shares down
Amazon shares dropped over 7% in extended trading after Q3 results missed expectations, with a significant decline in free cash flow and lower-than-expected revenue guidance.
US household alcohol spending 0.77% last year, lowest since 1984
US household spending on alcohol dropped to a record low of 0.77% in 2025, reflecting a continued decline in consumption amid rising wellness trends and changing health guidance.
T-Mobile rejects SpaceX MVNO proposal, CEO Srini Gopalan says
T-Mobile CEO Srini Gopalan confirmed the company has no plans for an MVNO agreement with SpaceX, citing limited value and preference for investing in its own 5G network.
Honeywell Technologies to pursue physical AI for $1B India revenue
Honeywell Technologies aims to reach $1 billion in revenue from its Indian operations within two to three years by leveraging physical AI and its hardware-software expertise.
Axis Trustee urges Yes Bank to reinstate ₹8,415cr AT1 bonds
Axis Trustee Services Ltd has given Yes Bank three working days to reinstate ₹8,415 crore of AT1 bonds, following a Supreme Court ruling that restored the bonds.
BSE advance decline ratio slips to 0.89 in October
Indian stocks are experiencing their weakest market breadth in seven months, as rising oil prices and elevated global bond yields undermine investor confidence.
Sensex jumps 905 points to 74,151 after US Fed pause
The US Fed's decision to pause interest rates and reduced foreign selling lifted the sensex by 905 points, closing at 74,151 on Thursday.
Coinbase Q3 2026 net income rises 66% to $719 million
Coinbase Global reported a third-quarter net income of $719 million, driven by a 39% rise in bitcoin's value and gains from its cryptocurrency investment portfolio.
Major Binance hack drains more than $2 billion in crypto
Crypto markets are reeling as a suspected multi-billion dollar hack on Binance drains over $2 billion in assets, causing significant price drops across major cryptocurrencies.
Soctera raises $4 million to scale RF power amplifier manufacturing
Austin Hickman and Reet Chaudhuri, co-founders of Soctera, recently secured $4 million in seed funding to advance their semiconductor startup's innovative radar technology.
Google Finland data center plans on hold after police probe
Google's $15 billion AI expansion in Finland is under threat as a police probe investigates alleged environmental violations, including forest clearing without proper assessments.
AWS posts 39% Q3 2026 revenue rise to $45.98 billion
Amazon's cloud-computing unit reported a 39% year-over-year revenue increase in Q3, surpassing analyst expectations, as rivals Alphabet and Microsoft also accelerate.
OpenAI-backed Thrive Holdings acquires ADT for $7.6B to bring AI
Thrive Holdings, supported by OpenAI, has acquired security company ADT for $10 per share, totaling approximately $7.6 billion in equity and an enterprise value of $15.3 billion.
GM agreed to pay $220 million and obtain drivers' express consent
General Motors will pay $220 million to settle allegations of illegally selling driver data, following a complaint from 36 state attorneys general.
IG Defence and MSA Global sign MoU to localize platforms
Indian defence company IG Defence has signed an MoU with Oman's MSA Global to co-develop and localise advanced drone and counter-drone systems for the Gulf region.
Intel shares fall 20% after hours on weak Q4 forecast
Intel shares fell 20% after the company issued weak fourth-quarter guidance, citing a continued slowdown in the global PC market impacting its revenue forecasts.
Bollinger Road Safeway in West San Jose closing in November
A long-standing Safeway on Bollinger Road in West San Jose will close permanently on November 14, marking the end of nearly six decades of service.
Polymarket pauses international exchange after UK data provider hack, refunds
Polymarket experienced an outage on its international platform due to a hack of a third-party provider, leading to unauthorized withdrawals and halted trading.
Tata Group faces November disputes over reappointment and trusts governance
The Tata Group faces critical challenges in November, with disputes over N Chandrasekaran's reappointment and Mehli Mistry's governance allegations set to intensify.
DoorDash acquires grocery delivery platform Instacart for $17B
DoorDash has announced its intention to acquire US-based grocery delivery service, Instacart, for a whopping $17 billion.
ECB chief Christine Lagarde to step down in February 2027
The European Central Bank (ECB) has announced that its president Christine Lagarde will step down nine months ahead of schedule.
Pakistan's imports from India up 69% despite trade ban
Despite the ongoing trade ban between India and Pakistan, the latter's imports from its neighbor have skyrocketed by nearly 69% in the first quarter of FY27.
Why Sam Altman is disappointed with MBA students
Sam Altman, the CEO of OpenAI, has urged MBA graduates and aspiring entrepreneurs to look beyond conventional career paths.
Why Toblerone parent has sued a British vegan chocolate brand
Mondelez International, the company behind the iconic Swiss chocolate bar Toblerone, has filed a lawsuit against British vegan chocolate brand Catherine's Originals.
Air India, IndiGo, Akasa's Saudi flights canceled till November
Major Indian and international airlines have extended their flight cancellations to several destinations in Saudi Arabia until November.
India's Q2 growth pegged at 7.35%
India's economy is projected to grow at a rate of 7.35% in the second quarter (Q2) of the fiscal year 2026-27 (FY27), according to the Finance Ministry's latest economic report.
Indians can now buy US stocks through Groww, Zerodha
Groww is now allowing retail investors to invest in US stocks. The move comes as a response to the continued underperformance of the Indian market, giving investors a chance to diversify their portfolios.
Equitas Bank shares crash as CEO quits over conflict concerns
Equitas Small Finance Bank's shares plummeted by nearly 16% on Thursday, following the resignation of its Managing Director and CEO, P N Vasudevan.
Ather is now worth 3.5 times Ola Electric
Ather Energy, a leading electric two-wheeler manufacturer, has witnessed an impressive surge in its stock price over the past week.
BLS Polymers IPO subscription crosses 45x on final day
BLS Polymers' initial public offering (IPO) witnessed strong demand on its last day of bidding.
Alphabet shares tank 10% despite Google Cloud's 103% growth
Alphabet, the parent company of Google, has witnessed a sharp decline in its shares post the release of its third-quarter earnings.
Shell's Q3 profit doubles to $10.8B thanks to Iran war
Shell has reported a massive jump in its profits for the third quarter of 2026, driven by rising oil and gas prices due to the ongoing conflict in the Middle East.
ESIC's amnesty scheme ends December 31: Check your eligibility, benefits
The Employees' State Insurance Corporation (ESIC) has announced an extension for its New Amnesty Scheme 2025.
Why India's aviation industry is staring at ₹38,000cr loss
India's aviation industry is likely to witness a surge in net losses this fiscal year, with estimates ranging from ₹36,000 crore to ₹38,000 crore.
EPFO to soon invest in alternative investment funds
The Employees' Provident Fund Organisation (EPFO) is preparing guidelines to invest in alternative investment funds (AIFs). This comes five years after the government approved such investments.
Why Reliance is closing its Hamleys subsidiary in the UK
Reliance Industries's step-down subsidiary, Hamleys (Franchising) Ltd, is facing a voluntary strike-off from the UK company register.
This is Nike's 1st-ever running shoe made for India
Nike has unveiled its first-ever running shoe specifically designed for the Indian market.
Foreign investors flee stocks, but FDI into India jumps 43%
India witnessed a significant increase in net foreign direct investment (FDI) inflows during the April-August period.
Disney lays off hundreds of employees across theme parks division
Walt Disney Co. is laying off between 100 and 200 employees from its theme parks division, The Los Angeles Times reported.
Carlsberg India files updated IPO papers with SEBI
Carlsberg India, the Indian subsidiary of Danish brewing giant Carlsberg, has filed updated draft papers with the Securities and Exchange Board of India(SEBI) for its initial public offering (IPO).
Australian regulator probes failed $5B Firmus IPO
Australia's corporate regulator, the Australian Securities and Investments Commission (ASIC), is looking into the failed $5 billion initial public offering (IPO) of AI data center operator Firmus.
Shocker! Around ₹35cr missing from PNB accounts in Greater Noida
Around ₹35 crore has allegedly gone missing from savings accounts and fixed deposits at a Punjab National Bank (PNB) branch in Greater Noida's Aichhar area.
SpaceXSI will buy your home in US under this condition
Residents of a Mississippi neighborhood are being offered deals by Elon Musk's artificial intelligence (AI) firm, SpaceXSI.
Zomato's 'Mehmaan mode' to hide prices during group orders
Zomato, the popular food delivery platform, is gearing up to introduce a novel feature called 'Mehmaan mode.'
Amazon cuts 250 jobs in devices unit
Amazon has laid off around 250 employees from its devices and services unit. The decision comes after a series of product launches, including new Kindle e-readers and tablets.
Jio shares jump 5% after 21% IPO debut
Jio Platforms' shares witnessed a massive surge, jumping another 5% on Thursday.
AI attacks steal ₹300cr from India's small NBFCs
India's non-banking financial companies (NBFCs) have suffered an estimated loss of ₹300 crore due to a spate of recent cyberattacks, as per a report by the Economic Times.
US Fed keeps rates unchanged after September hike
The US Federal Reserve has decided to keep its benchmark interest rate unchanged, a move that came as little surprise given the persistent inflationary pressures.
Why Samsung shares crashed despite $80B profit in Q3
Samsung Electronics has posted a record operating profit of 107.4 trillion won (around $80.04 billion) for the third quarter of this year.
Microsoft earned $10B from OpenAI partnership
Microsoft has reported a whopping $10 billion in revenue from its commercial agreements with OpenAI for the quarter ending September 30.
Microsoft posts record revenue for 10th consecutive quarter, hits $92.3B
Microsoft has announced its latest quarterly earnings, posting a record revenue of $92.3 billion, an impressive 19% growth from the same period last year.
Microsoft reveals Azure generated over $33B in quarterly revenue
Microsoft has revealed the dollar value of its cloud computing platform, Azure, for the first time.
Modi government approves ₹1,856cr scheme to boost sports goods manufacturing
The Union Cabinet, led by Prime Minister Narendra Modi, has approved a ₹1,856 crore scheme to boost sports goods manufacturing in India.
Maharashtra will become $1T economy by 2030, says Devendra Fadnavis
Maharashtra is poised to become a $1 trillion economy by 2030, Chief Minister Devendra Fadnavis said today.
Piyush Goyal's speech on Indian work culture slammed by netizens
Union Commerce Minister Piyush Goyal's recent remarks at the India-Netherlands Business Forum have drawn widespread criticism on social media.
Ixigo co-founder announces ₹1cr fund to back IIT Kanpur graduates
Rajnish Kumar, co-founder and group Co-CEO of ixigo, has launched a ₹1 crore fund to support graduating students from the Indian Institute of Technology (IIT) Kanpur.
Vedanta's Q2 profit jumps 78% to ₹6,202cr
Vedanta Limited has reported a 78% year-on-year (YoY) surge in its consolidated net profit for the September quarter.
Jio joins Meta and Alibaba in $100B IPO club
Jio Platforms has joined an elite club of founder-led companies with a market capitalization of over $100 billion at the time of their initial public offering (IPO).
Noel Tata to retire from boards of 6 Tata companies
Noel Tata, the chairman of Tata Trusts, will retire from the boards of six major Tata Group companies on November 12.
Anthropic IPO: How Indians can invest in Claude maker
Anthropic, the artificial intelligence (AI) start-up behind the popular chatbot Claude, is gearing up for its initial public offering (IPO) on Nasdaq.
India's industrial growth slows to 6.7% in September
India's Index of Industrial Production (IIP) for September has grown at a rate of 6.7%, down from August's 8%.
Adani Enterprises Q2 results: Profit down 55% YoY to ₹1,492cr
Adani Enterprises has reported a sharp decline in its consolidated net profit for the second quarter of FY27.
Anthropic sued for illegally training Claude on Stanford professors' works
Anthropic, a leading player in the artificial intelligence (AI) space, has been accused of illegally using the works of over 10 Stanford University professors to train its Claude models.
Modi government to approve ₹10,000cr scheme for making shipping containers
The Union Cabinet is likely to approve the ₹10,000 crore Container Manufacturing Assistance Scheme (CMAS).
DA for Indian government employees hiked by 3%
The Indian government has announced a hike in the dearness allowance (DA) for its employees.
India and Mexico to start negotiations for preferential trade agreement
India and Mexico have signed the terms of reference for a preferential trade agreement (PTA) today.
Reliance overtakes Tata as India's most valuable group
Reliance Group has become India's largest conglomerate by market capitalization, after its subsidiary Jio Platforms debuted on the stock exchange.