CATEGORIES

US court blocks Microsoft's $69-billion gaming deal

Judge scheduled a two-day hearing on FTC's request

FLDG positive for fintechs: MobiKwik COO

THE RESERVE BANK of India (RBI)'s guidelines on first loss default guarantee (FLDG), wherein the regulator has allowed a 5% default loss cover for bank-fintech deals, is overall a positive development for the fintech sector and will lead to further financial inclusion by these players, said Mobikwik's co-founder and COO Upasana Taku.

May sees spurt in demat accounts after 3 months of decline

THE TOTAL NUMBER of demat accounts rose to 118 million, with 2.1 million incremental additions in May.

MFs may not get holdings waiver post HDFC merger

MARKETS REGULATOR IS unlikely to give special exemption to mutual funds if they breach the norms for maximum permitted holdings in a security after the merger of HDFC Bank and HDFC, two sources with direct knowledge of the matter told Reuters.

Investors warm up to duration funds as RBI opts for pause

Up to three years in duration may be most favourable option

M&M's SUV XUV700 launched in Australia

AVAILABLE IN TWO VARIANTS

Meesho to provide financial services to registered sellers

BANGALORE BASED E-COMMERCE platform Meesho is planning to provide financial services to sellers registered on its platform in an effort to increase its profitability.

Demand for custom Al Bots leads to hiring push at Happiest Minds

COMPANIES ACROSS INDUSTRIES are asking for safe and reliable ways to use ChatGPT-like services, creating an opportunity for software developers far beyond generative-AI leaders such as OpenAI and Alphabet's Google, a tech executive said.

44% Wi-Fi users look to tap latest tech for higher speeds

AROUND 44% OF households having access to Wi-Fi want to upgrade to the latest technology like 6E that offers higher speed, provides better quality experience and supports high-end devices, according to a study by the Consumer Unity and Trust Society.

Volvo unveils new EV C40 Recharge

Carmaker to turn fully electric before 2030

Tata Motors arm posts profit just over a year after incorporation

NEW LAUNCHES, SALES NETWORK DRIVE NUMBERS

Mahindra Rural Housing Finance eyes ₹20K-cr book to get IPO-ready

MAHINDRA RURAL HOUSING Finance is aiming to more than double its overall advances book to ₹20,000 crore in the next three years.

Imposition of stock limit on wheat premature: Traders

'Govt could have cut import duty to boost supplies'

Small footwear units too brought under quality control order

THE GOVERNMENT HAS included small footwear units in the quality control order (QCO) for the sector and given them six months to implement the norms, while not giving any relaxation in the deadline of July 1 for larger manufacturers.

E20 petrol pumps to cross 1,000 soon: Minister

PETROLEUM AND NATURAL gas minister Hardeep Singh Puri on Wednesday said that the number of retail outlets selling 20% ethanol blended petrol has gone up to 600 and soon there will be 1,000 E20 petrol pumps in the country.

FY24 windfall tax kitty may fall amid softer crude prices

Tax rate zero since May 15; no plan to withdraw the policy

Zurich Insurance looks at $400-mn Kotak arm stake

ZURICH INSURANCE GROUP is in talks to buy up to 51% of Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing Indian insurance market.

WPI inflation plunges to 91-month low

WHOLESALE PRICE INDEX (WPI), which fell into the deflation zone in April, slipped further into the negative territory in May, helped by a high base and fall in prices of food articles, according to official data released on Wednesday.

Zoho building GPT-like large language model

SOFTWARE-AS-A-SERVICE (SAAS) MAJOR Zoho on Wednesday said it is developing its own proprietary large language model (LLM), which will be similar to OpenAI's GPT and Google's PaLM 2 models.

'Big Tech firms need more govt oversight'

Minister says safe harbour rules need a relook

IPL 2023: Dream11, Tata Neu, My11Circle most recalled brands

Shubman favourite, Dhoni Gill fans' most popular captain

Twitter was misusing its power, says MOS IT

TWEETING UP A STORM

Banks' NIM to moderate 10-20 bps: Crisil

INDIAN BANKS' NET interest margin, a key indicator of their profitability, peaked during the quarter ended March 2023 and will moderate by 10 to 20 basis points to 3%-3.1% in FY24, Crisil Ratings said in a note Tuesday.

Amazon's cloud business slows as companies pull back on service

WHEN THE PANDEMIC hit three years ago, Amazon was one of the few businesses that thrived. Customers flocked to the online commerce site amid global lockdowns. But even when those lockdowns eventually lifted and Amazon's sales slowed as people returned to stores, the company could still count on its massive cash cow: Amazon Web Services (AWS).

US inflation slows, Fed may pause rate hikes

Next CPI report due in July will play a key role in policy move

Sebi's Zee order: Unravelling money trail

THE SECURITIES AND Exchange Board of India's interim order against Essel Group's Subhash Chandra and Punit Goenka has brought back alleged lapses in corporate governance into the limelight.

Indian banks, NBFCs can weather global headwinds, says Moody's

CREDIT PROFILES OF Indian banks and non-banking financial companies will remain resilient despite the challenging global environment, Moody's Investors Service and Icra said in a report on Tuesday.

MRF scrip tops ₹1 lakh-mark

CHENNAI-BASED TYRE major MRF made history on Tuesday, becoming the first stock to breach the ₹1 lakh-mark in intra-day trade on the BSE.

FPIs route India investments via UAE despite its grey list tag

THE NUMBER OF foreign portfolio investors (FPIs) investing in India through the UAE has seen a 20% rise in little over a year despite the West Asian country facing global scrutiny after it was added to the FATF grey list.

Aircastle files second plea against SpiceJet

AIRCRAFT LESSOR AIRCASTLE on Tuesday moved the National Company Law Tribunal (NCLT) with a second plea to start insolvency proceedings against budget carrier SpiceJet for unpaid dues.