Business News
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Apple sends legal letters to ex-employees now at OpenAI
Apple has sent preservation letters to around 40 former employees now working at OpenAI.
Boeing can now self-certify its 737 MAX, 787 planes again
The US Federal Aviation Administration (FAA) has granted Boeing the authority to self-certify its entire fleet of 737 MAX and 787 aircraft.
Jio's subscriber base crosses 530M, average revenue per user improves
Reliance Industries Limited's telecom arm, Jio Platforms, has reported a steady improvement in its key operating metrics for the June quarter.
Reliance's oil-to-chemicals business revenue jumps 30% as crude prices surge
Reliance Industries Limited (RIL) has reported a 30.4% year-on-year (YoY) increase in revenue from its oil-to-chemicals (O2C) business for the first quarter of FY27.
Zee Entertainment plans to sell 49% stake in music division
Zee Entertainment Enterprises Ltd. (ZEEL) is considering selling a 49% stake in its music division, Zee Music.
Wells Fargo to cut more jobs as AI boosts efficiency
Wells Fargo, one of the leading US banks, is set to reduce its workforce further.
Zepto may slash IPO valuation amid investor concerns
Indian fast-delivery company Zepto Ltd. is looking to lower its initial public offering (IPO) valuation, amid concerns over cash burn and profitability, according to Bloomberg.
Chinese brands lose grip on Indian smartphone market
China's leading smartphone manufacturers have witnessed a major decline in the Indian market during the April-June quarter.
EPFO working on universal PF scheme for gig, self-employed workers
The Employees' Provident Fund Organisation (EPFO) is said to be working on a universal provident fund (PF) scheme, according to The Times of India.
Tata Electronics to build India's 1st semiconductor wafer plant
Tata Electronics, a subsidiary of the Tata Group, is preparing to set up India's first large-scale semiconductor wafer manufacturing facility.
Sensex jumps 965 points, Nifty tops 24,300 on IT rally
Indian benchmark indices, Sensex and Nifty, witnessed a massive rally on Friday.
Ex-Meta employees sue company over AI-driven layoffs, allege discrimination
Meta is facing a federal lawsuit from 26 former employees, who have accused the company of using AI-powered metrics to unfairly target workers for layoffs.
PayPal rejects $53B takeover bid from Stripe-led group
PayPal has rejected a $53 billion takeover bid from rival payment processor Stripe and private equity firm Advent International, according to Reuters.
Jio Platforms to begin IPO roadshow next week
Jio Platforms, the digital services subsidiary of Reliance Industries, will begin marketing for its proposed initial public offering (IPO) next week, according to Mint.
Volkswagen workers set to grill CEO over restructuring plans
Volkswagen's works council has announced plans for special staff assemblies with CEO Oliver Blume in August, according to Reuters.
Government may charge big businesses on UPI payments above ₹2,000
The Indian government is mulling the reintroduction of a Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions for large merchants.
Uber to acquire Germany's Delivery Hero for $14.8B
Uber has announced its acquisition of German food delivery company Delivery Hero for $14.8 billion.
Over 4,500 Google workers seek layoff protections amid AI push
Google employees have filed a petition seeking layoff protections amid the ongoing artificial intelligence (AI) boom.
Verizon cuts 3,000 jobs, sells 274 stores
Verizon, a leading US telecom giant, is going through a massive restructuring of its retail business.
Zepto launches ₹99/month Club membership with cashback, priority delivery perks
Zepto, the popular quick-commerce platform, has launched an invite-only paid membership program called Zepto Club.
Buffett says Bill Gates' association with Epstein was 'distasteful'
Billionaire investor Warren Buffett has expressed his disapproval of Microsoft co-founder Bill Gates' association with Jeffery Epstein, a convicted sex offender.
SBI Funds IPO crosses 40x subscription on final day
The initial public offering (IPO) of SBI Funds Management has witnessed a stellar response on its final day of bidding.
China now more favorable than US: Study
A new study by the Pew Research Center has revealed a major shift in global opinion, with China being viewed more favorably than the US in several countries.
Centre tightens exit rules for ISRO scientists amid growing resignations
The Indian government has tightened its resignation policy for scientists at the Indian Space Research Organization (ISRO).
TSMC to invest additional $100B in US chipmaking
Taiwan Semiconductor Manufacturing Company (TSMC), a leading player in the global chip industry, has announced its plan to invest an additional $100 billion in expanding its manufacturing capacity in the United States.
Apple eyes AI chip start-ups to reduce reliance on NVIDIA
Apple is on the lookout for chip start-ups to bolster its artificial intelligence (AI) server capabilities, according to The Information.
Why IT stocks are rallying today
IT stocks have witnessed a strong comeback in today's session, breaking their two-day losing streak.
MSCI India rejig may attract $2.3B foreign inflows
The upcoming rebalancing of the MSCI India Standard Index, due on August 12 after market hours, could see the addition of up to 12 new stocks.
Centre raises diesel, ATF export duties
In response to rising global crude oil prices, India has increased the windfall taxes on diesel and aviation turbine fuel (ATF) exports by ₹7 per liter each.
Ex-RBI Governor Raghuram Rajan gets key US Fed advisory role
Former Reserve Bank of India (RBI) governor Raghuram Rajan has been appointed to a key role in the US Federal Reserve's reform initiative.
SpaceX's stock falls below IPO price for 1st time
SpaceX's shares have fallen below their initial public offering (IPO) price for the first time.
South Korea raises interest rates for first time since 2023
South Korea's central bank, the Bank of Korea (BOK), has raised its key interest rate for the first time in over three years.
Musk just bought a power company for $1B
Elon Musk has acquired APR Energy, a Jacksonville-based company that operates mobile gas and diesel turbines with over 1GW of generation capacity.
Hyundai to take full control of Boston Dynamics
Hyundai Motor Group has announced its plan to acquire the remaining stake in Boston Dynamics from SoftBank Group.
JPMorgan Chase to become 1st $1T bank in the world
JPMorgan Chase is on the verge of becoming the first bank in history to be valued at $1 trillion.
India's unemployment rate in June stands at 5.5%
India's unemployment rate remained unchanged at 5.5% in June, according to the latest data from the Periodic Labour Force Survey (PLFS).
Fintech founder's home loan rejected. Reason? Bank calls him 'high-risk'
Pravin Jadhav, the founder and CEO of Raise Financial Services valued at around $1.2 billion, has claimed that a leading private bank denied his home loan application.
Modi government to issue ₹28,000cr nuclear power tender soon
India is gearing up to issue its largest-ever Nuclear Island Engineering, Procurement and Construction (EPC) tender.
Incentive scheme for mobile phone manufacturing, worth ₹62,500cr, approved
The Union Cabinet has approved a whopping ₹62,500 crore for the second phase of the mobile phone production-linked incentives scheme.
India-UK trade deal kicks in: Here's what gets cheaper
The India-UK Comprehensive Economic and Trade Agreement (CETA) has come into effect today.