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AI stock pickers grapple with the feeling of dot-com deja vu

Investors seeking to capitalize on artificial intelligence are harkening back to another period when a technological advancement caused a market frenzy: the dot-com era.

Fed's hawkish stance halts 3-day mkt rally

Equity benchmarks Sensex and Nifty buckled Thursday as investors pared exposure to banking, IT and finance stocks after three sessions of gains amid the US Fed's hawkish stance on interest rates.

Reliance Industries in talks for $2 billion loan to fuel expansion

Reliance Industries Ltd is in talks with lenders for a foreign-currency loan of up to $2 billion to fuel the ongoing expansion of its oil to-telecom business, according to people familiar with the matter.

Input costs cool, but aluminium firms need rise in demand, prices

Aluminium companies are set for a dull June quarter (Q1FY24). Demand has not picked pace and a near-term respite appears unlikely, evident from the downward trajectory of the metal’s price.

The Fed's bittersweet pill for stock markets

The brakes have been applied. The US Federal Reserve (Fed) has decided to pause the interest rate hiking cycle, which began in March 2022 leading to a cumulative hike of 500 basis points.

BoAt FY23 revenue grows 39%

Imagine Marketing Pvt. Ltd, which dropped plans for a public listing last year, clocked a 39% rise in revenue for the financial year ended March thanks to robust sales of its boAt brand of audio gear and wearables.

03 co-founder spearheading wealth management biz to quit

One of the co-founders of o3 Capital, Shyam Shenthar, is set to leave the mid-market-focussed boutique investment bank even as the group's wealth management business grows under the supervision of a veteran in the domain, people aware of the development said.

Moong sowing slows, wholesale prices rise on weak rains in Karnataka

Delayed rains have cast a cloud over the cultivation of moong (green gram) as farmers in Karnataka, a key producing state, are forced to defer sowing or turn to other crops.

Health ID push sparks security concerns

The Centre has asked all states to integrate government health programmes, schemes and portals with Ayushman Bharat Digital Mission to speed up a national digital health ID for citizens, even as experts cautioned about the need to build fool-proof data security.

Trade gap hits 5-month high as exports drop 10% in May

In break with convention, the government did not release sectoral break-up of May trade data

Transamericanixes $2bn TCS pact to focus on insourcing

Tata Consultancy Services (TCS) Ltd’s $2 billion, 10-year deal with the American arm of Dutch insurer Aegon NV has been scrapped five-and-a-half years after Transamerica Life Insurance Co. selected India’s largest information technology (IT) services company.

Air Taxis can be a $200 bn mkt

At a time when flying taxis are being discussed the world over, an Indian company is looking to take to the skies with an electric taxi called eVTOL

Bill Gates in China, to meet President Xi tomorrow

Bill Gates, Microsoft Corp's co-founder, is set to meet Chinese President Xi Jinping on Friday during his visit to China, two people with knowledge of the matter said

Author Cormac McCarthy leaves a rich legacy

The Pulitzer-winner was known for novels like 'No Country For Old Men'

IIT-M backed more than 300 deep-tech startups in 12 years

The Indian Institute of Technology, Madras. (IIT-M)'s incubation centre created over 300 deep-tech startups in the past 12 years, 82% of which survived beyond the first five years, said Ashok Jhunjhunwala, president of IIT-M Research Park and Incubation Cell

'Ad industry growth estimates may not be met this yr'

The advertising industry which was expecting to grow anywhere between 14% and 17% may have to pare down its estimates this year

USIBC honours Jubilant's Shyam, Hari Bhartia with global leadership award

The United States-India Business Council (USIBC) honoured Shyam Bhartia and Hari Bhartia, co-founders and co-chairs of the Jubilant Bhartia group, with the global leadership award for the year during its annual summit in Washington DC on Tuesday

Global AI boom to affect knowledge workers: McKinsey

The worldwide boom in generative artificial intelligence (AI) will usher in an age of accelerated productivity and greater prosperity for some and profound disruption for others, primarily knowledge workers, according to a new report by consultants McKinsey & Co.

Promos, offers drive food sales during IPL

The jump in orders came after the industry faced a slump in the March qtr

Binance.US, SEC working on deal to avoid full asset freeze

Binance.US and the Securities and Exchange Commission agreed to work on a deal that avoids a total asset freeze at the cryptocurrency trading platform, which the regulator has accused of operating illegally

UBS may have 1,200 pvt bankers in Asia as region spared cuts

UBS Group AG initially plans to take on the bulk of Credit Suisse private bankers in Asia Pacific, bringing the total headcount to over 1,200 in one of the few regional business divisions spared from deep cuts

E-comm cos favouring few sellers wrong: Goyal

Nudging users towards select sellers that offer e-commerce websites high commission is equivalent to cheating the people, consumer affairs minister Piyush Goyal said during a podcast on Wednesday

EU weighs decision on Google ad biz breakup

An unfavourable order can break up ad tech business from core services

MFs may be left with a serious headache after HDFC merger

India's 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 persons with direct knowledge of the matter told Reuters

Goldman sees India holding up vs China

A rebound in Chinese equities is unlikely to spur a strong rotation of funds out of India, where the benchmark index is headed for a record high amid a surge in foreign inflows

Uber leads $20 mn round for Everest Fleet's EV expansion

US ride-hailing giant Uber has led a $20 million funding round in Everest Fleet, a Mumbai-based provider of fleet management services to taxi aggregators

LPs in Asia-Pac more bullish than counterparts in US, EU

About 85% of North American LPs expect their VC portfolios to see a down round

Sterling Accuris buys Gujarat pathology network VIP Labs

Sterling Accuris Wellness Pvt. Ltd, a pathology-focused diagnostic lab chain, on Wednesday said it has bought Ahmedabad-based pathology chain VIP Labs to strengthen its presence in Gujarat. Financial details of the transaction were not disclosed

Zurich Insurance eyes 51% of Kotak's general insurance arm

Zurich Insurance Group is in talks to buy up to 51% of India's Kotak General Insurance, two people with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance market

NSA Sullivan wraps up India trip to prepare for PM Modi's US visit

US national security adviser Jake Sullivan met external affairs minister S Jaishankar and NSA Ajit Doval in New Delhi on Wednesday to prepare the ground for Prime Minister Narendra Modi's visit to the US next week