Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
24 Jan 2024
ZeeZee Entertainment moves NCLT, SIAC against Sony's $10bn merger termination
Zee Entertainment is taking legal action against Sony's decision to terminate their proposed $10 billion merger deal, seeking intervention from the National Company Law Tribunal (NCLT).
24 Jan 2024
Vodafone IdeaThese Vodafone Idea postpaid plans offer free Swiggy One membership
Vodafone Idea (Vi) has announced that Swiggy One membership will now be included in its Vi Max postpaid plans.
24 Jan 2024
Bajaj AutoBajaj Auto's Q3 net profit surges 37% to Rs. 2,042cr
Bajaj Auto has announced a 37% year-on-year (YoY) rise in net profit for Q3 FY24, reaching Rs. 2,041.88 crore.
24 Jan 2024
Indian Oil Corporation LimitedIndian Oil's Q3 profit falls 33% QoQ to Rs. 9,224cr
Indian Oil Corporation Limited (IOCL) announced a consolidated net profit of Rs. 9,224.85 crore for Q3 FY23-24, a significant jump from Rs. 890.28 crore during the same period last year.
24 Jan 2024
Stock MarketSensex climbs 690 points, Nifty settles above 21,450 points
On Wednesday, the stock market had a bearish opening but the benchmark Sensex and Nifty indices witnessed a late surge.
24 Jan 2024
Air IndiaDGCA fines Air India Rs. 1.1cr for safety violations
Air India has been slapped with a Rs. 1.1 crore fine by the Directorate General of Civil Aviation (DGCA) for safety violations on certain flights.
24 Jan 2024
NetflixNetflix reports tripled game engagement in 2023, adds 13.1mn subscribers
Netflix had a massive increase in gaming engagement on its platform, with numbers tripling in 2023, as stated in its recent earnings report.
24 Jan 2024
Comic-ConNazara Technologies's subsidiary buys Comic Con India for Rs. 55cr
NODWIN Gaming, an esports subsidiary of Nazara Technologies, is set to fully acquire Comic Con India Pvt. Ltd. for Rs. 55 crore.
24 Jan 2024
DHFLDHFL loan scam: SC cancels statutory bail of Wadhawan brothers
The Supreme Court of India has revoked the statutory bail of former DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, who are implicated in a massive loan scam.
24 Jan 2024
AmazonFrance fines Amazon $35 million for excessive worker surveillance
France's National Commission on Informatics and Liberty (CNIL) slapped Amazon with a hefty $35 million fine for what they call "excessively intrusive" surveillance of workers in Amazon warehouses.
24 Jan 2024
CryptocurrencyCryptocurrency prices today: Check rates of Bitcoin, Dogecoin, BNB, Tether
Bitcoin has slipped 0.34% in the past 24 hours to trade at $39,842.15. It is 6.90% lower than the week before.
24 Jan 2024
PaytmSoftBank sells 2% stake in Paytm in first profitable sale
Japanese investment giant SoftBank has sold a 2% stake in Paytm's parent company One97 Communications Ltd., raking in over $200 million.
24 Jan 2024
ChinaAmidst plummeting stocks, China restricts shorting of stock index futures
China's stock market regulators have directed some hedge fund managers to limit short selling in the nation's stock index futures market in an effort to stabilize plummeting stocks.
24 Jan 2024
Artificial Intelligence and Machine LearningSAP to restructure 8,000 roles in push toward AI
German software giant SAP has announced a €2 billion restructuring plan, impacting 8,000 roles, as it shifts its focus toward artificial intelligence (AI)-driven business sectors.
24 Jan 2024
eBayeBay to cut 1,000 jobs as expenses outpace revenue growth
eBay has announced its decision to eliminate 1,000 jobs, which makes up 9% of its full-time workforce. The move will also reduce work for external contractors.
23 Jan 2024
ICICI BankICICI Bank shares hits record high despite market downturn
ICICI Bank's stock on Tuesday jumped to a record high of Rs. 1,067.40 on the BSE.
23 Jan 2024
ZeeWhat went wrong with Zee-Sony merger
After three years and four months since the announcement of a merger between India's oldest media company Zee and Japan's media giant Sony, the deal has now been officially terminated.
23 Jan 2024
BYJU'SBYJU'S plans to raise funds at 90% discounted valuation
Embattled edtech unicorn BYJU'S is looking to raise over $100 million from current investors at a massive 90% discount to its previous $22 billion valuation, per Bloomberg.
23 Jan 2024
ZomatoZomato-backed Cult.fit lays off 150 employees in cost-cutting drive
Cult.fit, a popular fitness company backed by Zomato, has laid off around 120-150 employees in an effort to cut costs and improve its financial standing.
23 Jan 2024
Stock MarketSugar stocks down in India on production worries
India's sugar production has seen a decline compared to last year.
23 Jan 2024
IndiaIndia to become $5 trillion economy by 2024-25: Hardeep Puri
Union Petroleum Minister, Hardeep Singh Puri predicts that India's economy will hit a $5 trillion valuation by 2024-25 and double to $10 trillion by 2030.
23 Jan 2024
Tamil NaduApple supplier Corning to manufacture Gorilla Glass in Tamil Nadu
Gorilla Glass manufacturer Corning has teamed up with Indian telecom company Optiemus Infracom to establish Bharat Innovative Glass Technologies in Tamil Nadu.
23 Jan 2024
Axis Bank LtdAxis Bank Q3 net profit jumps 4% to Rs. 6,071cr
Axis Bank on Tuesday announced a 4% year-on-year (YoY) growth in its standalone net profit for the October-December quarter of the 2023-24 fiscal year.
23 Jan 2024
SensexInvestors lost Rs. 8 lakh crore in today's market crash
The Sensex dropped over 1,000 points to 70,371 while the Nifty declined by 1.5% to trade under the 21,250 mark.
23 Jan 2024
Stock MarketSensex tanks 1,053 points, Nifty settles near 21,240 mark
The stock market witnessed a downward trend on Tuesday.
23 Jan 2024
HDFC BankHDFC Bank's 3% decline triggers 750-point fall in Nifty Bank
A 3% drop in HDFC Bank's shares, along with a sell-off in other banking stocks, has led to a decline in Nifty Bank.
23 Jan 2024
BYJU'SBYJU'S net loss swells to Rs. 8,245 crore in FY22
Embattled edtech unicorn BYJU'S has submitted its audited financials for FY22 to the registrar of companies (RoC) after a 22-month delay.
23 Jan 2024
IndiaCentre hikes import duty on gold, silver jewelery parts
The Finance Ministry has raised the import duty on gold and silver findings (small parts) and coins of precious metals from 11% to 15%, as per Reuters.
23 Jan 2024
AyodhyaAyodhya's $10 billion makeover could generate $3bn tax for UP
In the run up to the inauguration of the Ram Mandir, Ayodhya has undergone a massive makeover worth over $10 billion.
23 Jan 2024
ZeeZee hits lower circuit, plunges 30%: Here's why
Zee Entertainment's stock plummeted 30% to Rs. 162.25 on BSE. This happened after the $10bn merger with Sony was called off yesterday.
23 Jan 2024
Stock MarketBumper listing! Maxposure shares debut with 339% premium
Maxposure, an innovative media and entertainment company, made a remarkable debut on the NSE SME platform, with a premium of 339.4%.
23 Jan 2024
Stock MarketGroww app down during market hours, users demand compensation
Groww, a popular online stock trading platform, is facing technical issues, leaving users unable to log in for intraday trading.
23 Jan 2024
CryptocurrencyCryptocurrency prices: Check today's rates of Bitcoin, Ethereum, Dogecoin, Tether
Bitcoin has lost 2.19% in the last 24 hours, trading at $40,094.53. It is down 6.33% from last week.
23 Jan 2024
TencentTencent's Riot Games to lay off over 500 workers
Riot Games, the Los Angeles-based online gaming company behind hits like League of Legends, is set to lay off 530 employees. This constitutes about 11% of its global workforce.
23 Jan 2024
SwiggySwiggy's latest 'experiment' doubles platform fee to Rs. 10
Swiggy may double the platform fee on food orders from Rs. 5 to Rs. 10 in the coming days.
23 Jan 2024
IndiaIndia is now world's fourth-largest stock market by market capitalization
India on Tuesday surpassed Hong Kong, becoming the world's fourth-largest stock market by market capitalization.
22 Jan 2024
ChinaChina invests record $40bn in chipmaking equipments
China's imports of chipmaking machines saw a 14% increase in 2023, reaching a staggering $40 billion.
22 Jan 2024
SamsungSamsung Chairman's trial verdict postponed to February 5
Samsung Electronics Chairman Lee Jae-yong's trial verdict has been pushed back to February 5, as he faces charges of stock price manipulation and accounting fraud.
22 Jan 2024
Budget SessionBudget 2024: Agri-credit target may rise to Rs. 22-25L crore
The Indian government is planning to raise the agricultural credit target to Rs. 22-25 lakh crore for the upcoming fiscal year, ensuring that every eligible farmer can access institutional credit, reported PTI.
22 Jan 2024
GoogleGoogle antitrust case: SC to hear appeals starting April 30
The Supreme Court is set to hear Google's appeal against the National Company Law Appellate Tribunal (NCLAT) order starting April 30.
