CATEGORIES

Musk reveals new logo to replace blue bird

The X started appearing in the desktop version of Twitter on Monday

OTTs hit pause button on box office flops

Streaming platforms once considered havens for niche, non-mainstream narratives are no longer willing to splurge on movies that failed to resonate with theatergoing audiences.

Apple eyes steady iPhone shipments despite turmoil

Apple Inc. is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, according to people familiar with the matter.

Execs yet to decide on investing after EBRD chief's meet

While Indian business leaders recently met the president of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, they are yet to make concrete investment commitment with the multilateral development bank that funnels investments to build market economies, two people with direct knowledge of the matter said.

TVS Motor profit jumps 46% to ₹468 cr in Q1

TVS Motor Co., the Bengaluru-based two-wheeler manufacturer, posted robust financial results in the quarter ended 30 June, with its net profit at ₹468 crore, up 46% from ₹321 crore a year earlier.

Byju's, lenders in deal to rejig $1.2 bn loan, end litigation

Struggling edtech platform Byju’s and its lenders have reached a consensus on restructuring its $1.2 billion term loan B. According to a joint statement by Byju’s and its lenders, the proposed amendment, that will be effective before 3 August, seeks to address loan acceleration, end all litigation, and prevent any further enforcement actions.

Stocks down as FPIs sell, crude prices rise

Benchmark equity indices Sensex and Nifty ended lower on Monday, extending corrections from their all-time highs for the second session in a row due to massive selling in heavyweight stocks.

Steep provisions drag IDBI Bank net NPAs below 0.5% in Q1

Private sector lender IDBI Bank was able to restrict its net non-performing asset (NPA) ratio to less than 0.5% in the three months through June, aided by a strategy to aggressively set aside provisions.

Sebi may ease delisting process, review insider trading rules

Markets regulator Securities and Exchange Board of India (Sebi) is planning to simplify the delisting process for listed companies.

Agri warehousing co Sohan Lal looks to raise up to $60 mn

Sohan Lal Commodity Management (SLCM), one of the top agri warehousing companies in India, is looking to raise $48-60 million (₹393-491 crore) from institutional investors by December-end, said two people aware of the matter.

Big Tech eyes cloud biz revival

US tech giants could signal an end to the nearly year-long slowdown in their cloud businesses as signs of economic resilience encourage clients to boost technology spending, while a pickup in digital ads will also aid profits.

New forms or old? Clarity on annual company filings soon

The new forms will be web-based and will enable real-time checking of data keyed in

ISRO arm's second commercial mission for Singapore

New Space India Ltd (NSIL), the commercial space missions arm of the Indian Space Research Organisation (Isro), on Monday, announced the second consecutive commercial space mission, scheduled to take-off aboard Isro’s trusted rocket Polar Satellite Launch Vehicle (PSLV) on 31 July.

Govt notifies 8.15% interest rate for employees' PF for FY2023

The finance ministry has accepted the Central Board of Trustees’ recommendation to set the annual interest rate on the Employees’ Provident Fund at 8.15% for FY23, marking a slight increase from the previous year.

Petro product usage up 4.9% in Apr-Jun

The consumption of petroleum products in India during April-June rose 4.9% to 58.8 million metric tonne.

Canara Bank was top lender to public sector cos in FY23

Public Sector Banks (PSBs) lent ₹4.12 trillion to state-backed corporations and public sector undertakings during 2022-23, down from ₹4.93 trillion during the previous year, finance minister Nirmala Sitharaman informed Parliament in a written response on Monday.

RIL teams up with Brookfield, Digital for data centres

Reliance Industries Ltd (RIL) is joining hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-way venture for setting up special purpose vehicles (SPVs) aimed at developing data centres in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said.

ITC set to demerge hotel biz, stock falls

The firm's shareholders will own 60% of the new entity directly

Twitter To Change Logo To X From Bird: Musk

Musk said he had plans to effect the change worldwide as early as Monday

Chinese diplomat plans talks with Japan and South Korea

Top Chinese diplomat Wang Yi proposed high-level talks between China, Japan and South Korea in a meeting with the Japanese foreign minister in Indonesia this month, Kyodo news agency reported on Sunday.

Netanyahu gets pacemaker just ahead of judicial overhaul vote

Prime minister Benjamin Netanyahu had a cardiac pacemaker successfully inserted early on Sunday after he was admitted to the hospital last week for fainting.

Lexus to foray into used car biz in India

Luxury carmaker Lexus is looking to foray into the used car business in India next year, having now completed six years in the market, according to a top company official.

Amazon deal off; MX Player eyes funding

Video streaming platform MX Player, owned by Times Internet Ltd, is exploring options to secure funding after its negotiations with Amazon Inc. for an acquisition hit a roadblock.

'Sensitivities over tech transfer will persist for some time to come'

Former diplomat and current US-India Business Council (USIBC) chief, Atul Keshap, emphasized the importance of India-US defence cooperation and the need for joint efforts to develop a defence industrial base in India.

SuperShare to shut shop, return capital

SuperShare, the content sharing platform, which had secured capital from investors, including Accel and Lightspeed, is heading toward a shutdown, according to two people familiar with its plans.

Machinery exports to Russia, CIS nations up 3 times in Jun

Indian engineering goods exports to Russia and Commonwealth of Independent States (CIS) countries surged in June, up nearly threefold in comparison to a year earlier, according to exporters. However, goods exports to other parts of the world witnessed a slowdown, they added.

OVL's wait for dividend from Sakhalin-1 oil field lengthens

Sakhalin-1 shares are yet to be transferred to ONGC Videsh, delaying the dividend payout

FPIs pump ₹43.8K cr in Jul; valuations rise

Indian equity markets continue to draw foreign portfolio investments as foreign investors put in ₹43,800 crore in July so far on stable macroeconomic fundamentals, steady earnings growth and challenges faced by the Chinese economy. With this, inflow in the equity market reached ₹1.2 trillion so far this year, data with the depositories showed.

EM bonds' rally shows market has underpriced El Niño risks

Emerging market (EM) bond bulls are betting the bank interest-rate hikes will help power up the asset class. El Niño may have something to say about that.

Startup funding slips; M&As, early-stage deals in spotlight

Private equity and venture capital funding slipped into the negative territory after two weeks with investors sharpening focus on mergers and acquisitions (M&As) as well as early-stage deals.