Business News | Page 44

No jargons, no mumbo-jumbo. Read the unadulterated Business news here.

Sensex slumps over 440 points in early trade

The BSE benchmark Sensex tumbled over 440 points and the NSE Nifty cracked below the key 15,000-level in early trade on Friday in line with a slump in other Asian markets as US bond market turmoil continued to fan investor worries globally.

04 Mar 2021


#FundingAlert: Bijnis receives secondary round of funding from prominent investors

B2B startup Bijnis on Thursday announced that it had concluded a secondary funding round raising an undisclosed amount. The deal saw shares owned by early investors sold to industry stalwarts Deepinder Goyal, Asish Mohapatra, Sarvbir Singh, and Manish Vij.

04 Mar 2021


EPFO retains 8.5% interest rate on PF deposits

The Employees' Provident Fund Organisation will maintain the interest rates on provident fund deposits at 8.5% for the financial year 2020-21, the same as the previous fiscal.

EPFO subscribers may face restrictions on early pension withdrawal: Report

The Employees' Provident Fund Organisation (EPFO) has reportedly proposed restrictions on the early withdrawal of pension contributions by formal sector workers.

03 Mar 2021

Nitin Gadkari

Gadkari assures Tesla of lower cost of manufacturing than China

Union Minister of Road Transport and Highways, Nitin Gadkari has said that India is ready to offer incentives to US automaker Tesla to ensure that its production cost here is cheaper than China.

03 Mar 2021


Employee sues Amazon for racial, gender discrimination in corporate hiring Inc has been sued for "systemic" discrimination against Black and female workers, especially for corporate roles. The lawsuit filed in federal court by Charlotte Newman alleges that Amazon hires Black people for lower positions and promotes them slower than White workers with similar qualifications.

02 Mar 2021

Mukesh Ambani

Elon Musk tops Hurun Global Rich List, Ambani ranked eighth

In the Hurun Global Rich List published on Tuesday, Mukesh Ambani ranked eighth, while Tesla CEO Elon Musk is on the top. The list ranked 3,228 billionaires from 68 countries.

Sensex spurts 447 points to reclaim the 50,000 mark

The BSE Sensex zoomed 447 points to settle above the psychological 50,000 mark on Tuesday, buoyed by hectic buying in auto, banking and IT counters amid positive domestic and global cues.

02 Mar 2021

Samsung Mobiles

#DealOfTheDay: Samsung Galaxy F62 available with cashback worth Rs. 2,500

If you are planning to buy a latest mid-range smartphone, this might be a good deal for you. Flipkart is offering the Samsung Galaxy F62 model with Rs. 2,500 instant cashback on transactions via ICICI Bank Credit and Debit cards.

01 Mar 2021


AstraZeneca has sold its stake in Moderna for $1 billion

British pharmaceutical company AstraZeneca Plc has sold its 7.7 percent stake in Moderna Inc., the American pharmaceutical giant, for more than $1 billion, according to a report in The Times.

26 Feb 2021


India exits recession, GDP grows 0.4% for Q3 2020-21

India's economy grew by 0.4% in the third quarter of the financial year 2020-21, government data released on Friday showed.

26 Feb 2021


Facebook-Apple spat escalates: Facebook launches PR campaign defending targeted advertising

On Thursday, social media giant Facebook launched a campaign called "Good Ideas Deserve To Be Found" attempting to explain to users how small businesses rely on targeted advertising. Facebook will air commercials on radio and on TV, including during the Golden Globe Awards on Sunday.

26 Feb 2021


Sensex ends 1,939 points lower; NIFTY below 14,600

Domestic equity markets witnessed a strong downward trend on Friday, mirroring losses in other global markets.

26 Feb 2021


Xiaomi ramps up local production of smartphones and smart TVs

In a virtual briefing on Thursday, Chinese conglomerate Xiaomi announced that it is expanding manufacturing for smartphones and smart TVs in India.

SEBI says measures will be taken to rectify NSE glitch

On Thursday, the Securities and Exchange Board of India (SEBI) said it will take necessary steps to rectify the causes for the four-hour long interruption in trading on the National Stock Exchange (NSE) on Wednesday.

Sensex tanks over 1,000 points in opening trade

Equity benchmark Sensex tanked over 1,000 points in the opening session on Friday tracking losses in index majors ICICI Bank, HDFC twins, and Reliance Industries amid a negative trend in global markets.

25 Feb 2021

Ravi Shankar Prasad

Government releases rules for social media, OTT platforms; details here

The Centre on Thursday released a set of new guidelines to regulate digital content.

25 Feb 2021


Flipkart mulls deployment of over 25,000 electric vehicles by 2030

Flipkart has announced that its city logistics fleet will comprise over 25,000 Electric Vehicles (EVs) by 2030. They shall be designed and assembled in India.

25 Feb 2021


Facebook pledges $1 billion to news industry after Australian standoff

The Australian news media code has caused great upheaval in the social media space. After Facebook's recent shutdown of news feed in the country and quick reversal, the social media giant has pledged to invest $1 billion to "support the news industry".

25 Feb 2021


Flipkart Mobiles Bonanza sale: Deals and discounts on best-selling smartphones

Flipkart has kicked-off its Mobiles Bonanza Sale in India with a wide range of discounts and offers on some of the best-selling smartphones.

25 Feb 2021


LG's smartphone business still for sale; Talks with Vingroup collapse

LG Electronics is planning to sell its mobile business after racking up $4.5 billion in losses over five years. We recently reported that the company had chanced upon a possible buyer for its smartphone business.

24 Feb 2021

Mahindra Cars

Amazon partners with Mahindra Electric to strengthen EV delivery fleet

Amazon and Mahindra Electric have signed a pact to add more electric vehicles (EVs) to the former's delivery fleet in India. Last year, the e-commerce giant had said that 10,000 EVs would be included in its fleet by 2025.

Trading halted on NSE due to telecommunication link issues

Severe technical issues have halted trading on the National Stock Exchange (NSE) today. Ongoing issues with the stock index's telecommunications infrastructure have affected the spot NIFTY and Bank NIFTY indexes, which have stopped updating.

24 Feb 2021

Social Media

ASCI drafts promotional content guidelines for social media influencers

The Advertising Standards Council of India (ASCI) has issued a set of draft guidelines that directs influencers to prominently label content that promotes products and services on social media.

23 Feb 2021


#DealOfTheDay: iPhone 12 mini available with benefits worth Rs. 6,000

If you are planning to own an iPhone, this might be a good deal for you. Flipkart is offering the iPhone 12 mini (64GB model) with an instant discount of Rs. 6,000 on EMI transactions via HDFC Bank Debit and Credit Cards.

23 Feb 2021


Petrol nears Rs. 91/liter mark in Delhi after latest hike

Petrol price on Tuesday neared the Rs. 91 per liter mark in Delhi and diesel crossed Rs. 81 a liter as fuel prices were hiked again after a two-day pause.

23 Feb 2021


Facebook reverses Australian news ban following amendments to media code

Facebook has walked back the uncompromising and abrupt total ban it had imposed on sharing Australian news sites. The bold move had blocked Facebook's Australian users from viewing and sharing news.

22 Feb 2021


Facebook removes Myanmar military's primary page; Cites repeated policy violations

Facebook has punished the Myanmar military establishment after it led the recent coup that ousted the elected government. The social media giant removed the military establishment's eponymously named Facebook page Tatmadaw, which roughly translates to True News Information Team.

Amazon Fab Phones Fest sale: Deals on best-selling mobiles

Amazon has kicked-off a fresh round of Fab Phones Fest in India starting today. Under the sale, which will end on February 25, the e-commerce giant is offering up to 40% off on smartphones and accessories.

20 Feb 2021

Xiaomi Mobiles

#DealOfTheDay: Mi 10 is available with benefits worth Rs. 10,000

If you are planning to own a high-end smartphone, this might be the deal for you. Amazon is offering an attractive discount of Rs. 5,000 on the Mi 10 model.

20 Feb 2021


Google fires second AI ethics researcher amid diversity dispute

Google has fired Margaret Mitchell who is the founder and former co-lead of the company's Ethical AI group. Google claimed she was fired for violating its code of conduct and security policies.

20 Feb 2021


Border conflict with China impacts iPhone production in India

Repercussions of India's geopolitical tensions with its neighbor China are being felt at Apple's iPhone production facilities in India. The South China Morning Post reports that the tensions have limited the issuance of entrance visas to Chinese engineers, which, in turn, is impacting Apple suppliers in the country.

20 Feb 2021


WhatsApp will implement updated policy despite global outrage

WhatsApp has reiterated that it will implement its privacy policy despite user backlash and government scrutiny. WhatsApp recently published a blog post reminding its dwindling user base that the privacy policy will come into effect on May 15.

18 Feb 2021


Ford to sell only all-electric cars in Europe by 2030

In an attempt to beat CO2 emissions targets and circumvent imminent bans on fuel-guzzling vehicles in certain countries, Ford has announced that it will sell only electric cars in Europe by 2030.

18 Feb 2021

Jaguar Land Rover

JLR hit by lay-offs; to cut 2,000 jobs globally

Jaguar Land Rover (JLR) is planning to reduce its global workforce by 2,000 in the next financial year. The staff is being briefed on the job cuts.

18 Feb 2021


Tata Group may acquire BigBasket: Details here

Tata Group has reportedly reached an agreement to acquire a majority stake in BigBasket according to unnamed sources privy to the deal.

17 Feb 2021

Samsung Mobiles

#DealOfTheDay: Galaxy S21+ 5G available with discounts worth Rs. 30,000

Looking to buy a flagship smartphone? Well, this deal might serve your interests. Amazon is offering Rs. 19,000 off on the Samsung Galaxy S21+ 5G model.

17 Feb 2021

Madhya Pradesh

Fuel price hike: Petrol crosses Rs. 100 in Rajasthan

For the first time ever, the price of petrol crossed the Rs. 100 per liter mark in Rajasthan on Wednesday after fuel rates were hiked for the ninth day in a row.

17 Feb 2021


Musk's SpaceX raises $850 million, now valued at $74 billion

Elon Musk's SpaceX has reportedly raised $850 million in an equity funding round last week. CNBC reports the shares were sold at $419.99 apiece. Citing unsubstantiated sources familiar with the financing, the report added that the company is now valued at around $74 billion.

16 Feb 2021


Zuckerberg tells Facebook employees "to inflict pain" on Apple

This weekend, a Wall Street Journal report elaborated upon the ongoing rift between Apple CEO Tim Cook and Facebook boss Mark Zuckerberg.