Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
SEBI to deploy AI to identify and delist inactive companies
The Securities and Exchange Board of India (Sebi) plans to implement an AI-based system to monitor companies with minimal economic activity, enhancing investor protection.
UPI recorded 25.47 billion transactions, ₹31.53L/cr value in October
In October, India's UPI transactions hit a record 25.47 billion, driven by festive shopping and online sales, marking a 23% increase from the previous year.
India's August coal imports fall nearly 6% on domestic boost
India's coal imports fell by 5.83% in August compared to the previous year, driven by increased domestic production and a significant reduction in power sector imports.
Proton denies spying on employees' AI-generated code and hiring pause
Proton has refuted claims of tracking AI-generated code on employees' laptops and assured there will be no job losses due to AI re-interviews.
Carlsberg filed, Pernod Ricard awaits nod, Coca-Cola weighs India IPOs
Carlsberg, Pernod Ricard, and Coca-Cola are preparing to list their Indian businesses, aiming to capitalize on the growing domestic capital market.
Bangladesh forms wage board to address Dhaka garment worker protests
Bangladesh established a new wage board on Sunday to address garment workers' demands, as ongoing protests in Dhaka's industrial areas led to clashes with police.
McKinsey report finds Indian millennials lead AI shopping tool use
Millennials in India are at the forefront of AI shopping adoption, with 84% utilizing AI tools, surpassing Gen Z's 74%, according to McKinsey's report.
GST collections hit ₹2.3L crore in October, up 22.9% YoY
India's gross Goods and Services Tax (GST) collection for October stood at ₹2.31 lakh crore, a whopping 22.9% increase from the same month last year, official data released on November 1 showed.
Foreign investors continue sell-off, withdraw ₹34,800cr in October
Amid rising economic fears, foreign portfolio investors (FPIs) withdrew ₹34,843 crore from Indian equities in October.
IDBI Bank strike on November 2-3: What customers should know
IDBI Bank has received a notice of strike from the Association/Union for November 2 and 3.
SEBI to delist inactive firms using AI against pump-and-dump
SEBI is actively working to remove companies with no economic activity from stock exchanges to protect investors from potential risks, according to Chairman Tuhin Kanta Pandey.
UPI processes ₹1L crore in daily transactions for 1st time
The Unified Payments Interface (UPI) has hit a new milestone, processing an average of over ₹1 lakh crore in transactions per day for the first time in October.
SEBI extends accessibility deadline and mandates IAAP audits for entities
SEBI has extended the deadline for digital accessibility compliance to January 31, following requests from market participants and reviewing progress on earlier mandates.
January 1, 2027 rules allow authorities to adjust airline fares
The Centre has announced new airfare regulations under the Bharatiya Vayuyan Niyam, 2026, set to be implemented from January 1, 2027.
Coal India Limited October output 19.3% and offtake 18.7% rise
Coal India Ltd reported a 19.3% increase in coal production to 67.2 million tonnes and an 18.7% rise in offtake to 70.3 million tonnes in October 2026.
Mohit Joshi says Tech Mahindra prioritizes growth over margins
Tech Mahindra, under CEO Mohit Joshi, has nearly tripled its profitability over three years and now focuses on driving immediate growth while continuing margin expansion.
NVIDIA CEO Jensen Huang urges US to ease immigration rules
Nvidia CEO Jensen Huang emphasizes the importance of attracting global talent to America, advocating for lawful immigration to foster innovation and entrepreneurship.
FPIs withdrew ₹34,843 cr from Indian equities in October
Foreign portfolio investors withdrew Rs 34,843 crore from Indian equities in October, but turned net buyers by infusing Rs 6,300 crore during the last week of the month.
Matiks raises $10 million backed by General Catalyst and Ronnie Screwvala
Three Indian college friends founded Matiks, a brain gaming app, and have successfully raised $10 million in a pre-Series A funding round led by General Catalyst.
UPI average daily transactions exceed ₹1L/cr in India this October
In October, UPI processed average daily transactions exceeding ₹1 lakh crore for the first time, with 25.47 billion transactions totaling ₹31.53 lakh crore, according to NPCI data.
Most central banks hold rates while Canada, Pakistan, Ukraine raise
Central banks worldwide maintained interest rates amid inflation concerns driven by energy costs, while the Federal Reserve and ECB hinted at potential hikes in December.
Jeff Bezos, Lauren Sanchez Bezos donate $100 million for endangered species
Jeff Bezos and Lauren Sanchez Bezos have pledged $100 million through the Bezos Earth Fund to support global efforts in protecting endangered species from extinction.
OpenAI reportedly cuts funding target by $10B ahead of IPO
OpenAI has reportedly lowered its funding target for the latest round by $10 billion.
After Jio Platforms IPOs pause, Vedant Poly Fabs seeks ₹56.68cr
India's IPO market slows with only one new issue, Vedant Poly Fabs, while 13 companies prepare for listings following October's record-breaking Jio Platforms IPO.
Cordelia Cruises eyes India top 5 cruise market by 2032
Cordelia Cruises aims to position India among the world's top five cruise markets by 2032, expanding its fleet and enhancing domestic cruise tourism potential.
Apple overtakes NVIDIA to become world's most valuable company
Apple has reclaimed its position as the world's most valuable company, surpassing NVIDIA.
Atishay Jain leaves Microsoft, forgoing ₹15L to build ScaleWorks AI
Atishay Jain, a BITS Pilani graduate, left his software engineering role at Microsoft to establish ScaleWorks AI, missing out on a Rs 15 lakh exit offer.
Commercial LPG cylinder price hiked by ₹10
The price of a 19-kg commercial liquefied petroleum gas (LPG) cylinder has been increased by ₹10 to ₹2,820 from today.
Investors rethink AI stocks after Alphabet Intel and Nasdaq drop
Investors are increasingly turning to options and credit-default swaps to hedge against potential losses in the booming AI market, as concerns about a downturn grow.
Zomato founder Deepinder Goyal opens temple pre-orders on November 1
Temple, a wearable device from Zomato founder Deepinder Goyal's health tech initiative, is now available for pre-order in India via the Temple app and website.
NVIDIA scientist Irfan Al-Hussaini found hanging, family alleges domestic violence
Irfan Al-Hussaini's unexpected death has sparked a contentious public dispute, with his family challenging the suicide ruling and accusing his wife of manipulation and abuse.
Apple reclaims top market value from NVIDIA at $5.03 trillion
Apple has overtaken Nvidia to become the world's most valuable company, with a market capitalization of $5.03 trillion, as concerns over AI investment costs impact tech stocks.
South Korea exports surge 76.1% in October on AI semiconductors
South Korea's exports surged 76.1% year-on-year in October, driven by a booming semiconductor sector, as shipments reached $115.3 billion, according to the Ministry of Trade data.
Capgemini raises 2026 revenue target after 12.6% Q3 AI jump
Capgemini has increased its 2026 revenue guidance for the second time, driven by a 12% rise in third-quarter revenue as businesses accelerate AI deployment.
Rajasthan man shocked by ₹10L crore lien on his account
In a bizarre turn of events, a 22-year-old medical store employee from Sikar, Rajasthan, found a lien of ₹1 lakh crore on his Kotak Bank account.
US judge allows lawsuit claiming McDonald's misled customers about McRib
McDonald's has been hit with a consumer fraud lawsuit over its popular McRib sandwich.
Anthropic may fail to secure investment-grade rating after IPO
Blackstone, the private capital giant, has told investors that Anthropic may not secure an investment-grade rating immediately after its IPO, Financial Times reported.
Alaska Air to lay off 200 employees amid financial challenges
Alaska Air Group has announced plans to lay off around 200 non-contract employees.
Centre forms high-level committee to review India's banking sector
The Indian government has formed a five-member high-level committee to review the country's banking sector.
Intel stock crash wipes $12B off US government's stake
Intel's stock suffered its worst single-day decline since the 1970s, plummeting by a staggering 29% on Friday.
Indian travelers can now use UPI at Burj Khalifa
Indian travelers can now use Unified Payments Interface (UPI) apps for online bookings at major tourist attractions in the UAE and Singapore.
Intel, Reddit plunge 29% as Nasdaq suffers worst-fall since June
The Nasdaq composite index witnessed its worst fall since June, with major tech companies like Intel and Reddit taking a huge hit.
Atomberg Technologies gets SEBI nod for IPO
Mumbai-based consumer appliances maker Atomberg Technologies has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
NVIDIA may back Nscale's loan for Anthropic data center
NVIDIA is reportedly in talks to provide credit guarantees worth billions of dollars to AI cloud provider Nscale.
US to block Chinese telecoms from accessing American phone numbers
The US is preparing to bar Chinese telecom firms from direct access to American phone numbers.
Meta loses French court appeal over payments for publishers' rights
Meta Platforms has lost its appeals against interim measures imposed by French regulators over media organizations' publishing rights.
Jio Platform's Nifty entry could bring ₹36,500cr in passive buying
Jio Platforms, India's second-most valuable company with a market capitalization of ₹13 lakh crore, may be added to the Nifty 50 index in September 2027. The BSE Sensex index could follow suit in December 2027.
RBI tightens checks on banks amid rising cyberattack threats
The Reserve Bank of India (RBI) is tightening its grip on banks amid the growing threat of cyberattacks.
Why Google, Amazon, Intel shares crashed up to 23%
Shares of tech giants Alphabet (Google), Amazon, and Intel plummeted on Thursday. The decline was as steep as 23% in after-hours trading.
Alleged Chinese spy developed close ties with NVIDIA CEO
Alice Huang, a Chinese national and former executive at Megaspeed, has been accused of espionage.
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.
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).
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.
Amazon reports $42.4B cash outflow as AI spending surges
Amazon has reported a massive cash burn in Q3.
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.
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.
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.
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.
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.
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.