CATEGORIES

Piper Serica raises ₹160 crore

Piper Serica Advisors Pvt. Ltd has marked the final close of its maiden angel fund after overshooting the greenshoe option thanks to high investor interest, its founder said.

SaaS startup Zluri raises $20 mn from Lightspeed Venture, others

Software-as-a-service (SaaS) startup Zluri on Thursday said it has raised $20 million (₹164 crore) as a part of its Series B funding round led by Silicon Valley-based Lightspeed Venture Partners.

Blinken, Wang start talks aimed at easing tensions

US Secretary of State Antony Blinken and China's top foreign policy official, Wang Yi, have started their second round of talks in a month, as the two largest economies ramp up high-level dialog to stabilize ties.

Disney seeks strategic partner for ESPN

Walt Disney will likely seek a strategic partner in its ESPN sports business, but is considering selling off other traditional TV assets, Chief Executive Robert Iger said.

Pakistan gets final IMF okay for $3 bn bailout

The move allows for an immediate disbursement of about $1.2 billion

Big traders exit gaming stock Delta Corp as GST rates rise

Six out of the seven clients holding large derivatives positions in Delta Corp., a gaming and casino company, closed their positions following the 11 July Goods and Services Tax (GST) Council meeting. The stock, which plunged 23% after the council decided to raise GST rates on gaming and casinos from 18% to 28%, prompted these clients to take immediate action.

Will advise on governance, structure at Byju's: Kumar

Rajnish Kumar, former chairman of State Bank of India, has been on several rescue missions during his professional career as a banker and even after retirement. The rescue of Yes Bank is a notable example, and so is the attempt to save Jet Airways. Kumar's recent effort to steer BharatPe is still a work in progress. On Thursday, edtech major Byju's appointed him and Mohandas Pai, the former CFO of Infosys, to its newly formed advisory council, in a confidence-building initiative scripted by Byju Raveendran and wife, Divya Gokulnath. Edited excerpts of an interview with Kumar:

EQT Asia Fund plans to invest more than $3 billion in India

Swedish investment house EQT AB will deploy about $3.4 billion in India through its Asia private equity arm as it steps up deal making in the country.

HCL Tech to buy German firm ASAP for $280 million

HCL Technologies Ltd is acquiring a German automotive engineering services company for an enterprise value of about €251 million ($280 million) to push beyond IT consultancy into expertize in self-driving vehicles.

CarDekho group revenue up; share of used car biz declines

Benefits of diversifying into insurance, lending businesses show up in FY23 financials

India looks to resume operations at stalled hydrocarbon block in Iraq

At a time when Iraq has emerged as a major supplier of crude oil to India, the Centre is looking at resuming operations of state-run ONGC Videsh Ltd's (OVL) hydrocarbon exploration block in Iraq, which has been under force majeure since 2003, said two people with knowledge of the development.

Falling oil prices may not ease inflation

Falling crude oil prices, on the back of concerns over a global slowdown and recession, are unlikely to bring down domestic inflation sharply, as the benefits of the drop are yet to be passed on to retail customers, said economists.

Sebi to set up a panel to suggest changes to SCRA

The Securities and Exchange Board of India (Sebi) plans to form an expert committee to suggest changes to the 67-year-old Securities Contract Regulation Act (SCRA), two people with direct knowledge of the matter said.

Byju's taps Mohandas Pai, Rajnish Kumar for board advisory council

Edtech giant Byju's on Thursday named former State Bank of India chairman Rajnish Kumar and former Infosys chief financial officer T.V. Mohandas Pai to a newly formed council to advise its board.

Wipro's revenue declines, industry outlook bleak

Wipro Ltd saw its quarterly dollar revenue decline 2.1% in the June quarter, after Tata Consultancy Services (TCS) Ltd and HCL Technologies Ltd reported tepid numbers earlier, raising concerns about the sluggish growth of India's $245 billion IT services industry in the current fiscal year.

ChatGPT under FTC investigation for publishing false info

The Federal Trade Commission is investigating whether OpenAI's ChatGPT artificial-intelligence system has harmed individuals by publishing false information about them, according to a letter the agency sent to the company.

Govt may seek cut in ghee, butter GST

The government may propose reducing goods and services tax (GST) on ghee and butter to 5% from the current 12%, according to government documents reviewed by Mint.

Bets on rate cut off as inflation flares

Inflation may average 5-5.4% in FY24, higher than old estimates

How A Pensioner Should Invest To Plan For Her Child's Marriage

We will need to make a few assumptions as follows: Her monthly expenses are ₹35,000 per month, marriage expenses needed after five years would be ₹35,00,000 and the lowest tax bracket would be applicable.

Narratives of statistical decline require much corrective rework

The story of a golden age in the 50s and 60s followed by a long slump fails to acknowledge strides made by official statistics

Our GST regime needs a return to factory setting

The complexity of decisions taken by the GST Council is enough to explain why we need a reset of this regime. Let's get it back in harmony with its promise of one country, one tax'

US heat wave shows no sign of abating

Nearly 25% of the US population is facing high, wilting temperatures that show no sign of abating anytime soon, taxing power grids and raising health risks.

Microsoft's $69 bn Activision deal may attract new UK probe

Britain's antitrust watchdog said that a new merger investigation into Microsoft Corp's $69 billion Activision Blizzard Inc. deal may be needed if the duo restructure their deal in a bid to reverse a UK veto.

NATO offers security assurances for Ukraine

Kyiv has been pushing for rapid membership of the military bloc

NFRA to clarify on past audit jurisdiction soon

The clarification seeks to address stakeholders' concerns over an SC ruling

Disney explores strategic options for India business

Disney is exploring strategic options for its Star India business, including a joint venture or a sale, a sign of strain at one of the premier properties it acquired from Fox.

Excess tax credit use to spur automatic notices

Move to slash input tax credit mismatches, misuse of facility: GST Council

Indian airlines to face capacity shortage in peak travel season

Indian airlines face a potential capacity shortage during the peak December quarter travel season, as aircraft induction plans of major carriers are progressing at a sluggish pace, according to data from aircraft tracking site Flightradar24 .

Delhi HC rejects Go First plea, lessors free to inspect planes

The division bench of the Delhi High Court has rejected the appeal by Go First, seeking a stay on the interim order by a single judge bench on 5 July. The interim order had allowed its lessors to inspect its 30 parked aircraft.

Singh offers lifeline to SpiceJet

SpiceJet Ltd will receive a fresh capital infusion of ₹500 crore from its promoter Ajay Singh, offering a lifeline to the financially-beleaguered budget airline. Singh will infuse the funds by subscribing to fresh equity shares and/or convertible instruments.