Business News
'Insane': How Elon Musk reacted to EU's $140m fine on X & why the platform was penalised
Elon Musk denounced the EU's $140 million fine on X as "crazy" and "insane," criticizing the penalty for violating transparency rules under the Digital Services Act. Regulators cited deceptive design practices with the blue checkmark system and shortcomings in X's ad database. The ruling has drawn criticism from US officials who view it as an attack on American tech platforms.
RBI cuts repo rate, home loan set to hit record low
Simone Tata, who made Lakme a household name in India, dies at 95
Noel now largest Tata family stakeholder
RBI clarifies IMF’s remarks on its data
RBI’s pro-growth stance liftsD-St mood, sensex up 447 pts
HealthEdge deal marks Frank D’Souza’s redux
Cloudflare outage disrupts stock trades at new age cos
Frontier to buy B K Birla group co Kesoram
FPI rulebook revamp: Sebi proposes simplified registrations; clearer KYC rules, unified framework on cards
Sebi has proposed a significant overhaul of its Foreign Portfolio Investor (FPI) framework to simplify registrations and ease compliance for global investors. The move includes a unified rulebook and an abridged application option for related funds, aiming to enhance the ease of doing business in India.
Advance tax rules: Who must pay, who is exempt and how quarterly deadlines work
Individuals with a net tax liability exceeding Rs 10,000 must pay advance tax in four installments, with specific exemptions for resident senior citizens without business income and salaried individuals whose tax is fully covered by TDS. Certain incomes like capital gains can be paid in the subsequent quarter after earning.
India can lift exports to Russia from $5 bn to $35 bn! Why a modern rupee-rouble settlement system is needed - explained
India can boost its exports to Russia seven-fold, reaching $35 billion by 2030, by tapping into sectors like food, pharmaceuticals, and textiles. Currently, trade is heavily skewed towards oil imports, with exports lagging significantly. A key hurdle is the lack of a predictable payment system, hindering broader market access for Indian goods.
Message for Trump? Putin says Russia ready to continue ‘uninterrupted shipments of fuel’ to India; pitches reliable supply of oil
Amidst US sanctions on Russian oil majors, President Putin has assured India of consistent energy supplies, including oil, gas, and coal. This comes as India faces US pressure over its crude oil trade with Russia. Beyond fossil fuels, Russia is also deepening collaboration with India in nuclear energy, transport logistics, and advanced technology sectors.
IndiGo CEO Pieter Elbers expects cancellations to fall below 1,000 on Saturday
IndiGo CEO Pieter Elbers expects fewer than 1,000 flight cancellations on Saturday, with operations normalizing between December 10-15. The airline scrapped over 1,000 flights due to planning gaps in new Flight Duty Time Limitations (FDTL) norms, apologizing for the disruption. The DGCA has paused the FDTL rules, and a high-level inquiry is underway.
Wall Street today: S&P 500 inches toward record high; rate-cut bets firm as retailers rally, Netflix slips
Indian markets are inching towards record highs, mirroring a quiet week on Wall Street. Retailers like Ulta Beauty and Victoria's Secret are driving gains, while Netflix's acquisition news caused a dip. Investors are anticipating a Federal Reserve rate cut next week, aiming to bolster the job market despite inflation concerns. Global markets show mixed trends.
India-Russia talks: Modi, Putin seek swift investment agreement; both sides eye $100-bn trade target by 2030
Prime Minister Modi and President Putin directed officials to expedite negotiations on a "mutually beneficial" investment agreement during their New Delhi summit. The leaders also emphasized expanding bilateral trade, particularly boosting India's exports to Russia, and deepening energy and transport corridor cooperation.
Ask Dhirendra: Everyone around me is investing in something. How do I stop FOMO from running my money life?
When markets boom, wedding conversations shift to stock tips, fueling FOMO. Investors often chase recent gains, entering late and exiting during downturns, leading to lower actual returns. A disciplined approach, focusing on long-term goals and a small 'mad money' allocation for experiments, is key to navigating market hype.
IndiGo crisis fallout: Stock sinks over 7% in four days; mass flight cancellations deepen passenger chaos
IndiGo's parent company, InterGlobe Aviation, has seen its stock value plummet as a severe operational crisis leads to over 1,000 flight cancellations, stranding thousands. New pilot rest regulations are cited as the cause, with the airline expecting operations to normalize by mid-December. The disruption significantly impacts India's air travel network.
Netflix to acquire Warner Bros: Why it is a BIG deal
Two and a half decades later, that humble mail-order start-up is preparing to buy the studio that helped build modern Hollywood itself. Netflix’s planned acquisition of Warner Bros – the century-old home of Casablanca, Harry Potter, DC superheroes, The Lord of the Rings (via New Line), HBO and control of classics like The Wizard of Oz – for an enterprise value of roughly 82.7 billion dollars marks a transformative moment in entertainment history. For the first time, a company that began its life shipping DVDs is about to take ownership of a film and television library that has shaped global culture for a hundred years.
Forex reserves fall by $1.88 bn to $686 bn as FCA declines; gold holdings rise: RBI
India's foreign exchange reserves saw a dip of $1.877 billion, reaching $686.227 billion by November 28. This follows a larger decline in the prior week. While foreign currency assets decreased significantly, gold reserves experienced a notable increase of $1.613 billion. Special Drawing Rights and India's IMF position also saw modest gains.