Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Thousands of Amazon workers strike, disrupting pre-Christmas deliveries
Thousands of Amazon workers in the US have gone on a strike amid the crucial pre-Christmas season.
Blinkit appoints former Flipkart executive as its CFO
Zomato's quick commerce arm Blinkit has hired Vipin Kapooria as its new Chief Financial Officer (CFO). Kapooria was the Vice President of Business Finance at Flipkart.
Luxury brands eye crypto payments as Bitcoin value skyrockets
The soaring value of Bitcoin has caught the attention of luxury fashion brands and retailers, prompting them to explore cryptocurrencies as a payment option.
Start-up behind Faasos, Wendy's, and SLAY secures funding from KKR
Rebel Foods, India's leading cloud kitchen start-up, has raised an undisclosed amount of funding from American global investment firm KKR (Kohlberg Kravis Roberts & Co.).
Perplexity's valuation hits $9B as ChatGPT rival secures fresh funding
Perplexity AI, one of the leading players in the artificial intelligence (AI) space, has had its valuation skyrocket to an impressive $9 billion after its latest funding round.
5 IPOs hitting Dalal Street today amid market volatility
India's primary markets are all set to get busy with five initial public offerings (IPOs) from the mainboard segment, launching today.
'Worst period since 1991': New Zealand sinks into recession
New Zealand is facing its worst economic downturn since the COVID-19 pandemic, with the country's Gross Domestic Product (GDP) unexpectedly plummeting by 1% in the third quarter of 2024.
SEBI bans YouTube influencer, imposes ₹9.5cr fine for misleading investors
The Securities and Exchange Board of India (SEBI) has banned YouTuber Ravindra Balu Bharti and his firm from participating in the securities markets till April 4, 2025.
'Sharam karo': Netizens react to Mallya-Modi's 'we've been wronged' exchange
The exchange of birthday wishes between IPL founder Lalit Modi and absonding liqour tycoon Vijay Mallya on social media sparked significant online reactions, including memes, criticism, and questions about their actions.
Inflation will increase cost of Indian household essentials by 5-20%
Inflation is expected to disrupt household budgets, worsening urban demand.
Vishal Mega Mart IPO becomes $5B jackpot for 2 investors
Vishal Mega Mart, one of India's leading retail chains, made a stellar debut in the stock market on Wednesday.
Indian rupee breaches 85 to hit lifetime low against USD
The Indian rupee has seen a sharp depreciation, hitting an all-time low of 85 against the US dollar today.
Sensex plummets 1,000 points: Key reasons behind today's market crash
The Indian stock market witnessed a major crash today with the BSE Sensex crashing over 1,000 points and the NSE Nifty falling below the 24,000 mark.
Bhavish Aggarwal's Ola to offer 10-minute food deliveries via ONDC
Under the leadership of Co-Founder and CEO Bhavish Aggarwal, Ola Cabs has entered India's fast-growing quick food delivery segment.
Modi government uncovers ₹26,540cr GST evasion
The Central Board of Indirect Taxes and Customs (CBIC) has unearthed a whopping ₹26,543 crore Goods and Services Tax (GST) evasion.
Meet Zing: An app leveraging AI for 10-minute food deliveries
Zing, a new entrant in the fast-paced food delivery segment, has launched its services in Gurugram.
Netherlands: Netflix fined €4.7M for violating data protection laws
The Dutch Data Protection Authority (DPA) has slapped a €4.75 million ($5 million) fine on Netflix for not properly informing its users about their personal data usage between 2018 and 2020.
Who is Rama Mohan Rao Amara, SBI's new Managing Director
Rama Mohan Rao Amara has been appointed as the new Managing Director of the State Bank of India (SBI).
Your coconut oil for cooking should become cheaper now
Ending a 15-year-long legal battle between the Excise Department and manufacturers, the Supreme Court has ruled that small packets of coconut oil should be considered edible oil for taxation purposes.
Attention taxpayers! Disclose foreign income ASAP or hefty face penalty
The Income Tax Department has reminded taxpayers to disclose any undisclosed foreign income or assets before the year ends.
Congo sues Apple in France, Belgium for using 'conflict minerals'
The Democratic Republic of Congo has filed lawsuits against Apple's subsidiaries in France and Belgium.
Zomato CEO is India's 2nd-richest self-made entrepreneur. Who is first?
Food delivery giant Zomato's CEO Deepinder Goyal has been named India's second-richest self-made entrepreneur by Hurun India.
Indian rupee plummets to record low, nears 85 per USD
The Indian rupee has witnessed a sharp fall, hitting an all-time low of 84.94 against the US dollar on December 18. The fall is just six paise shy of the 85 mark, hinting at further decline.
Musk's next venture is to reimagine education system in US
Elon Musk, the world's richest man famous for his tech and space exploration ventures, is now entering the field of education.
Donald Trump threatens to impose reciprocal tariffs on India
US President-elect Donald Trump has said he plans to impose reciprocal tariffs on India, as the country levies "high tariff" on some American goods.
Vishal Mega Mart shares debut at 33% premium on NSE
Gurugram-based retail giant Vishal Mega Mart made a strong debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today.
MobiKwik lists at 58% premium: Book profit or hold?
One MobiKwik Systems Ltd, the parent of fintech platform MobiKwik, made a strong debut on the National Stock Exchange(NSE) today, opening its shares at ₹440 each.
Elon Musk, SpaceX under federal scrutiny for undisclosed foreign meetings
Elon Musk and his aerospace company, SpaceX, are facing three separate federal reviews by different US military departments.
Your online food deliveries in India may cost less soon
The Goods and Services Tax (GST) Council will discuss a possible cut in GST on food delivery charges at its 55th meeting on December 21.
Ireland: Meta fined €251M over Facebook's 2018 security breach
Meta, the parent company of Facebook, has been slapped with a €251 million (around $263 million) fine. The penalty is related to a security breach, which Facebook disclosed in September 2018.
Your life insurance premiums may become cheaper soon
The Goods and Services Tax (GST) Council will review the recommendations of the Group of Ministers (GoM) on insurance at its 55th meeting on Saturday (December 21).
What's Specialized Investment Fund, new asset class notified by SEBI
In a major development, the Securities and Exchange Board of India (SEBI) has announced the introduction of a new asset class, the 'Specialized Investment Fund' (SIF).
LG, JSW Energy planning $1.5B battery manufacturing venture in India
South Korea's LG Energy Solution (LGES) is said to be in talks with India's JSW Energy to form a joint venture for battery manufacturing, as per Reuters.
Donald Trump's upcoming cabinet worth over $450B: Meet the members
US President-elect Donald Trump has put together a second-term team that beats his own record for wealth.
Sold cryptocurrency before 2022? You will be taxed less
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has ruled that profits from cryptocurrency sales should be classified as capital gains and not income. This will lead to lower tax liabilities.
Q2 GDP slowdown was a temporary blip: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman informed the Lok Sabha on December 17 that the government views the GDP growth slowdown in Q2FY25 as a "temporary blip" and expects improvement in the coming quarters.
Reliance shareholders face first negative returns in 10 years
Mukesh Ambani-led Reliance Industries Limited (RIL) is on course to end 2024 with negative returns for the first time in a decade.
Alphabet-backed Aye Finance files for ₹1,450 crore IPO
Gurugram-based non-banking financial company (NBFC) Aye Finance Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
MagicPin takes on Zomato, Swiggy with 15-minute food delivery service
MagicPin, a hyperlocal delivery start-up, has launched a new 15-minute food delivery service called 'MagicNOW.'
Alibaba to sell Intime department store chain at $1.3B loss
In a move that will see the company incur a $1.3 billion loss, Alibaba Group has announced the sale of its Chinese department store unit, Intime.