Business news

Social media claims that hand sanitizer could spark fire in a car during summers

Sanitizers not same as Alcohol; Indians angry over 18% GST on alcohol-based sanitizers

The center is facing backlash over the decision to impose 18 percent GST on essential hand sanitizers.

Jul 14, 2020

Walmart-led investors pump in $1.2 billion in Flipkart Group

With the new investment, Flipkart group is now valued at $24.9 billion. The $1.2 billion will be funded in two tranches over the remainder of the fiscal year.

Jul 14, 2020

Backlash over Reliance Jio's decision to charge voice calls

US 5G giant Qualcomm invests ₹730 crore in Reliance digital unit

India's Reliance Industries on Sunday said Qualcomm Inc's investment arm will buy a 0.15% stake in its digital unit Jio Platforms for 7.3 billion Indian rupees ($97.1 million).

Jul 12, 2020

Amazon says delete TikTok email to employees 'sent in error'

Amazon which has over 840,000 employees globally said there "is no change to our policies right now with regard to TikTok".

Jul 11, 2020

Apple supplier Foxconn to invest $1 billion in India

The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis.

Jul 11, 2020

Shantanu Narayen, president and CEO, Adobe

How Adobe CEO Shantanu Narayen defied odds, added $3.13bn revenue in Q2

Joining the likes of Microsoft CEO Satya Nadella, Adobe's CEO Shantanu Narayen is the less-familiar face behind the company's phenomenal growth and skyrocketing revenue increase in Q2 2020 to touch $3.13 billion amid economic chaos in Covid-19 times.

Jul 11, 2020

The Beardo Millionaires: Trendy beard category founders exit, sell full stake to Marico

In 2017, Marico acquired a 45% stake in Beardo and now it went ahead and acquired the remaining 55% equity share in Beardo's parent company Zed lifestyle. While details of the transaction value remain undisclosed, the estimated value of the deal could be between Rs 350 to Rs 400 crores.

Jul 10, 2020

Annual IMF, World Bank meetings to be held virtually

The 2020 annual meetings of the International Monetary Fund (IMF) and the World Bank Group will likely be held in a primarily virtual format due to the ongoing COVID-19 pandemic, the leaders of the two institutions announced.

Jul 10, 2020

Ramkumar Ramamoorthy's 23 year-long stint with Cognizant ends

Two top-level exits of Cognizant's India chief Ramkumar Ramamoorthy and head of global delivery Pradeep Shilige were announced by CEO Brian Humphries in an email to employees.

Jul 10, 2020

3,300 employees across NRAI member restaurants receive credit of Rs 5,000 each

Beam Suntory India and Pernod Ricard India have partnered separately with the National Restaurant Association of India (NRAI) to pledge Rs 1 crore and Rs. 1.4 crore, respectively.

Jul 9, 2020

Yes Bank's Rs 15,000 cr further public offering opens on July 15

Yes Bank has filed a red herring prospectus for its further public offering (FPO) to raise up to Rs 15,000 crore.

Jul 9, 2020

Tata Sons in talks to buy out AirAsia India stake at steep discount

Indian conglomerate Tata Sons are in talks to buy out AirAsia Group Bhd's stake in their airline joint venture in India at a steep discount, the Business Standard newspaper reported on Thursday, citing banking sources.

Jul 9, 2020

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Sensex, Nifty rise as focus shifts to corporate earnings

The NSE Nifty 50 index rose 0.64% to 10,774.50 by 0511 GMT, while the benchmark S&P BSE Sensex climbed 0.67% to 36,570.32.

Jul 9, 2020

Hiring activity improves 33% in June: Naukri.com

In addition, functional roles in education/teaching (49 per cent), pharma/biotech (36 per cent) and sales/business development (33 per cent) saw an uptick.

Jul 8, 2020

Govt reverses merger, instead to infuse Rs 12,450 cr into 3 public sector insurance companies

Govt reverses the merger of three PSGICs namely National Insurance Company, United India Insurance Company, and Oriental Insurance Company Limited announced earlier.

Jul 8, 2020