Wednesday, May 18, 2022
Business

2 in 3 Indians receive 3 or more pesky calls every day: Report

NEW DELHI: Nearly 64 per cent Indians get three or more spam calls every day, according to a report on Tuesday.

San Francisco's homelessness count dips

SAN FRANCISCO: San Francisco Mayor London Breed announced that preliminary results of the city's biennial homelessness count showed a 15 per cent decrease in unsheltered homelessness and a 3.5 per cent decrease in overall homelessness.

Lenskart-backed Neso Brands raises over $100 mn, appoints new CEO

NEW DELHI: Omnichannel eyewear unicorn Lenskart-backed Neso Brands on Monday said it has raised over $100 million in seed funding, along with announcing to appoint Bjorn Bergstrom as the new CEO.

Ambuja, ACC stocks rise as Adani to buy Holcim's entire stake in cement makers

NEW DELHI: Shares of cement makers Ambuja Cements and ACC rose on Monday after Adani Group announced that it would buy Switzerland-based Holcim Ltd's entire stake in the leading Indian cement companies.

Indian IPO market experienced significant slowdown

NEW DELHI: After record-high levels of IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022.

Adani Group to buy 49% in Quint; media company's shares up over 9%

NEW DELHI: Adani Group's unit AMG Media Networks will buy a 49 per cent stake in Raghav Bahl-run digital business news platform Quintillion Business Media for an undisclosed sum, a regulatory filing to the exchanges said.

Twitter, Tesla, Musk see billions evaporate

NEW YORK: Elon Musk, still the world's richest man, is poorer by nearly $39 billion since he spoke of buying out Twitter.

Japanese C2C marketplace Mercari establishes centre of excellence in India

BENGALURU: Japanese consumer-to-consumer (C2C) marketplace Mercari Inc on Friday said it is establishing a Centre of Excellence here that will develop IT service solutions for its domestic business in Japan and the US.

Indices fall for fifth straight session, April CPI data in focus

NEW DELHI: Indian equity benchmarks declined over 2 per cent on Thursday, led by slump in banking, financial and metal stocks.

Oil majors gambling on emissions mitigation technologies: Carbon Tracker

NEW DELHI: Oil and gas companies are putting investors at risk because their plans to reduce emissions rely on technologies that are expensive and unproven at scale, finds a report from the financial think tank Carbon Tracker released on Thursday.

ADIF becomes party to CCI probe into Apple's app market dominance

NEW DELHI: The Alliance of Digital India Foundation (ADIF) on Wednesday said it is now a party to the ongoing Competition Commission of India (CCI) probe against Apple over alleged abuse of market power in the apps market.

Tesla recalls 130,000 cars to fix touchscreen issues

SAN FRANCISCO: Electric car-maker Tesla has recalled 130,000 cars to fix touchscreen issues caused by an overheating central processing unit (CPU).

Indian regulator warns Uber, Ola to fix customer complaints else face penal action

NEW DELHI: The Central Consumer Protection Authority (CCPA) on Tuesday warned ride-hailing platforms like Uber and Ola to fix rising consumer complaints regarding ride cancellations, cancellation charges, random surge pricing, and long waiting times, or else face penal action.

Vahan recognised as global technology pioneer by World Economic Forum

NEW DELHI: Vahan, a Bengaluru-based startup focused on solving the employment issue of the 500 million blue-collar workers in India, has been selected among hundreds of candidates as one of the World Economic Forum's "Technology Pioneers".

BharatPe to 'claw back' Ashneer's restricted shares, blocks vendors

NEW DELHI: Leading fintech platform BharatPe on Tuesday said it has initiated necessary action against the company's former founder Ashneer Grover to "claw back his restricted shares as per the shareholders' agreement" and will take all steps to enforce its right under the law.

LIC IPO issue subscribed 2.89 times on final day

NEW DELHI: The initial public offering of Life Insurance Corporation of India has received robust response from investors with the insurance major's offer having been subscribed 2.89 times.

Adani Airports raises $250 mn for airports development

AHMEDADBAD: Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, has announced a successful closure of funding of $250 million senior secured three-year ECB facility from consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC.

Spotify CEO Daniel Ek pumps $50 mn into his music streaming platform

SAN FRANCISCO: Spotify co-founder and CEO Daniel Ek is investing $50 million into his own music streaming service, saying that the "best days are ahead".

Equities plunge in early trade on weak global cues, Sensex declines over 1K pts

NEW DELHI: Indian equity benchmarks declined sharply in opening deals on Friday, in line with weakness in global markets.

India' own semiconductor consumption to cross $80 bn by 2026

NEW DELHI: In this technologically connected world, semiconductors play a pivotal role. To give a boost to this particular sector, India recently hosted a big conference. Indian Prime Minister Narendra Modi said India's own consumption of semiconductors is expected to cross $80 billion by 2026 and $110 billion by 2030.

Anil Agarwal Foundation leads the way with 150 ISO certified Nand Ghars in UP

NEW DELHI: Vedanta Groups Anil Agarwal Foundation has yet again showcased their quality excellence and is setting new benchmarks for women and child development through their flagship project Nand Ghar.

India and the Russo-Ukraine War-defending core interests in a divided world

NEW DELHI: Owing to the involvement of major global powers and forces, the ongoing Russo-Ukrainian war, since February 2022, has been consistently shaping the contours of world politics. Ironically, Ukraine's quest to join the North Atlantic Treaty Organisation (NATO) as a member state in search of security triggered Russia's insecurity due to a justified fear that any further eastward expansion of the NATO will bring the US-led alliance at its doorstep.

RBI hikes repo rate by 40 bps on inflation worries, equities plunge

NEW DELHI: Reserve Bank of India Governor Shaktikanta Das on Wednesday said that the Monetary Policy Committee (MPC) of the central bank, in an off-cycle meeting, hiked the repo rate by 40 basis points (bps) to 4.40 per cent with immediate effect.

US doubles down on efforts to fight rising crypto frauds

WASHINGTON: Keeping the rising cryptocurrency scams in mind, the US has nearly doubled its cryptocurrency enforcement division, adding another 20 positions to the 'Cyber Unit'.

Domestic mutual funds invest Rs 4,002 cr in LIC IPO under anchor quota

NEW DELHI: Domestic mutual funds invested Rs 4,002 crore, accounting for a little over 71 per cent of the total anchor book portion of the much-awaited initial public offering (IPO) of Life Insurance Corporation (LIC).

Former Petroleum Secretary Tarun Kapoor appointed Advisor in PMO

NEW DELHI: Former Petroleum Secretary Tarun Kapoor has been appointed as Advisor in the Prime Minister's Office while IAS officers Hari Ranjan Rao and Atish Chandra have been appointed as Additional Secretaries.

'Gold prices likely to witness pressure on anticipation of Fed's aggressive policy stance'

NEW DELHI: Gold prices have historically inched higher during the times of Akshaya Tritiya, but this time amidst the rising anticipation of the Fed's aggressive policy stance, the yellow metal could see some pressure on the price front, said Motilal Oswal.

Nearly half of Elon Musk's 90mn Twitter followers are 'fake'

NEW DELHI: As Tesla CEO and soon-to-be Twitter boss Elon Musk aims to crack down on spam bots, nearly half of his own followers on the micro-blogging platform are fake.

Equity market awaits US Fed meet for fresh cues, says Swastika Investmart

NEW DELHI: The equity market is likely to kick off next week on a sombre note after a sharp fall in the US market overnight and the focus will shift to the outcome of the US' Federal Open Market Committee (FOMC) meeting, said financial advisory firm Swastika Investmart.

Musk sells Tesla stock worth $4 bn amid Twitter takeover

SAN FRANCISCO:  Tesla CEO Elon Musk has sold around 4.4 million shares of the company worth around $4 billion, as he prepares to take over Twitter for nearly $44 billion.

After spending Rs 450 crore, Bhopal BRTS to be removed

BHOPAL: The Madhya Pradesh Tourism Department's slogan "MP ajab hai, sab se gajab hai" has been much-talked about, but it is 100 per cent right in the context of the Bus Rapid Transit System (BRTS) as Rs 450 crore have been spent in making and maintaining it, and now the government may dismantle it.

Mukesh Ambani plans takeover bid for UK high street chain Boots

NEW DELHI: Indian billionaire Mukesh Ambani is reportedly planning a takeover bid for the UK high street chain Boots, a media report said.

India Inc. mourns passing of IL&FS ex-boss Ravi Parthasarathy

MUMBAI: AIndia Inc. on Thursday mourned the passing of Ravi Parthasarathy, considered the trailblazer of the PPP model and the former CEO and Chairman of the 35-year-old failed Infrastructure Leasing & Financial Services (IL&FS), who succumbed to a four-year-old battle with cancer.

Jack Dorsey to take home nearly $1 bn once Musk's Twitter deal closes

NEW DELHI: Jack Dorsey is set to take home a hefty amount of $978 million in cash once the Elon Musk's Twitter takeover deal gets through.

TA'ZIZ, Reliance sign shareholder agreement Ruwais chemicals project

NEW DELHI; Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA'ZIZ) and Reliance Industries Ltd (RIL) have signed the formal Shareholder Agreement for the TA'ZIZ EDC & PVC project.

Sitharaman engages investors in Silicon Valley

PALO ALTO: The Confederation of Indian Industry (CII) and the US Chamber of Commerce's US-India Business Council (USIBC), co-hosted an exclusive roundtable for business leaders and investors with Finance Minister Nirmala Sitharaman in Palo Alto.

S&P Global Ratings expects Future Retail to default, lowers rating

CHENNAI: Global credit rating agency S&P Global Ratings anticipating a certain default by Future Retail Ltd on its $500 million senior secured notes lowered the credit ratings from 'CCC-' to 'CC'.

Wheat procurement under MSP likely to be lowest in last 10 years

NEW DELHI: The uptick in export of wheat following the global shortage due to the Ukraine-Russia war has led to a situation where wheat procurement is likely to be lowest in last 12 years from across India, especially from Punjab and Haryana, the two largest contributors to the central pool.

Vedanta Group's Anil Agarwal Foundation launches initiative for animal welfare

NEW DELHI: Animal lovers and cattle managers in the Faridabad region will soon have the opportunity to learn more about the medical status of the strays as well as their live stocks.

LU offers new course in naturopathy, Yogic science

LUCKNOW: Students at the Lucknow University (LU) will now have a new option for an under-graduate course in Naturopathic and Yogic Science (BNYS) from the academic session 2022-23.

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