Business

Centre clarifies ongoing proceedings against Byju’s under companies law, denies reports of financial fraud clearance in ongoing investigation The Ministry of Corporate Affairs on Wednesday clarified that proceedings initiated against edtech player Byju’s under the companies law are “still ongoing” and a final conclusion cannot be drawn in the matter at this stage. Byju’s, once a celebrated…

Alphabet’s (GOOGL.O), opens new tab Waymo said on Tuesday its autonomous ride-hailing service, Waymo One, is now available to everyone in San Francisco, nearly four years after a similar move in Phoenix, Arizona. Driverless vehicles are expected to drive commercial success for automakers even as regulatory scrutiny remains tight amid concerns of investors about growing investments in…

India is the world’s third-largest economy in terms of energy needs, and its energy demand is projected to surge 25-35 per cent by 2030. Its peak energy demand is estimated to be 366.4 GW by 2031-32. Adani group is looking to invest about ₹ 2 lakh crore by 2030 to build 40 gigawatts of renewable energy generation…

‘We safeguarded our portfolio against any volatility by pre-paying Rs 17,500 crore in margin-linked financing,’ says Gautam Adani Adani Group Chairman Gautam Adani delved on the Hindenburg incident at the 32nd annual general meeting of the conglomerate and cited the short-seller’s over 100 pages long report on the group as “baseless accusations”. “It was a two-sided attack…

Providing relief to students and working professionals, the GST Council has recommended exempting accommodation services having a value of supply up to ₹20,000 per person per month from goods and services tax. Co-living space providers have welcomed the new notification saying that it clarifies that hostels and accommodations for working professionals are exempt from GST within certain…

Industry associations such as CII in pre Budget discussions with the Revenue Secretary have suggested providing a marginal relief in income tax at the lower end of the spectrum with taxable income up to Rs 20 lakh as one of the measures to boost consumption demand. Finance Minister Nirmala Sitharaman is reportedly mulling significant relief for India’s…

Sensex is higher today as it extended gains from the previous session ahead of upcoming budget. Nifty hit a fresh record high today owing to gains in IT stocks. This comes after Accenture forecasted annual revenue growth above expectations. The company’s stock soared over 7 per cent in overnight US trading. Sensex is also higher today as…

Japan’s SoftBank Group will ramp up its power generation business primarily in the United States to supply power to generative artificial intelligence projects worldwide, founder Masayoshi Son said on Thursday. SoftBank Group-backed SB Energy develops and operates renewable electricity businesses across the United States. Source: https://www.channelnewsasia.com/business/softbanks-son-will-ramp-us-power-business-generative-ai-4423211

Ferrari’s first electric car will cost at least 500,000 euros ($535,000), a source familiar with the matter told Reuters, as the luxury automaker prepares to open a plant that will make the model – and could boost group production by up to a third. The Italian brand, famed for its roaring petrol engines, has said it will…

Among the stocks in the capital goods sector, Timken India emerged as the top gainer with a rally of 1,736% in the past decade At least five stocks from the capital goods space have surged more than 1,000% in the past 10 years. According to market watchers, the National Manufacturing Policy, liberalisation of FDI norms and continuous…

The US Federal Trade Commission (FTC) has referred a complaint against TikTok and its Chinese parent company ByteDance over potential violations of children’s privacy to the Department of Justice (DOJ). The FTC says its own investigation “uncovered reason to believe” that the firms “are violating or are about to violate the law”. In a statement to BBC…

The average salary that Americans say would make them happy is $94,696, according to a Moneyzine.com survey of more than 1,200 people done in 2023. But research shows that money can’t buy happiness; happy people just seem to be more successful. Tami Muller is a happiness trainer and positive psychology coach who has studied the science of…

TRAI on June 6 invited industry views on whether financial disincentives must be slapped on telcos if allocated telecommunications identifier (TI) resources remained unused beyond a certain timeframe. The Indian telecom regulator refuted several media reports claiming it plans to charge customers for holding multiple SIMs or numbering resources. Terming such claims as “completely false and baseless,”…

If users want to hide comments within a presentation or avoid accidental edits, they can switch to view mode. Choosing commenting mode will hide all options associated with editing, but still allow users to read and add comments, the tech giant explained. Google has said that it is making it easier for users to switch between different…

The court ultimately found the evidence was not sufficient to prove McDonald’s had used the contested trademark enough in relation to poultry products. McDonald’s has lost the EU trademark for use of the term “Big Mac” in relation to chicken sandwiches. The European Court of Justice (ECJ) upheld a complaint against the US fast food giant from…

Markets on Wednesday rebounded in early trade after both Sensex and Nifty nosedived as the Lok Sabha election results defied expectations. Sensex jumped 948.83 points to 73,027.88 while Nifty was up 247.1 points to 22,131.60. Source: https://www.deccanherald.com/business/markets/day-after-bloodbath-markets-rebound-in-early-trade-sensex-jumps-to-7302788-nifty-rises-to-2213160-3053308

The BSE Sensex was down 5.71 per cent or 4,378 points at 72,067, while the NSE Nifty 50 was down 5.74 per cent or 1,334 points at 12 noon. Indian stock markets crashed by over 5,000 points today, after a sharp rally in the previous session, as early vote-counting trends showed Prime Minister Narendra Modi’s Bharatiya Janata…

Analysts had predicted that benchmark indices were likely to rally on Monday given the exit polls predicting a massive BJP-led NDA win and strong GDP data. New Delhi: Investors’ wealth jumped Rs 12.48 lakh crore in morning trade on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win…

​​​The surge in share prices brings their total market value to Rs 17.94 lakh crore at one point. Gautam Adani, the chairman of the Adani Group, has once again become the richest person in Asia with a net worth of $111 billion, according to the Bloomberg Billionaires Index. This achievement comes after the Adani Group’s shares surged…

India’s Q4 GDP Data Out: India’s gross domestic product (GDP) grew 7.8 per cent y-o-y during the January-March 2024 quarter (Q4 FY24) as compared with the 6.2 per cent growth recorded a year ago, according to the latest official data released on Friday, May 31. It has surpassed analysts’ estimates. For the full financial year 2023-24, India’s…

A gender-equal world is still a utopian concept, and while the journey of change has taken flight, there’s still a long way to go. We may be in 2022, but any discourse around menstrual hygiene and sexual wellness is often suppressed by the age-old patriarchal norms. Fortunately, there are several entrepreneurs who are ‘breaking the bias’ and…

The government is working to bring cryptocurrencies under the ambit of Goods & Services Tax ( GST ) in order to tax the entire value of transactions. Crypto exchanges are currently taxed at 18% slab of GST on services provided to users under the financial services category. The government is working to bring cryptocurrencies under the ambit…