Business news

Elon Musk Calls British Diver Who Helped Thai Schoolboys Is A Pedo Guy In Twitter Outburst

Furious investors send Tesla shares plummeting amid Elon Musk's Twitter rant

The repercussion of the Tesla founder's tweet calling a diver involved in the Thai cave rescue a paedophile has resulted in the company having the worst-performing stock on the Nasdaq index as share crashed by 3%.

Jul 17, 2018

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PhonePe acquires Zopper Retail to fight competition

Zopper claims to have a network of three lakh offline and online merchant outlets covering food, travel, groceries, and movie tickets among other services.

Jul 17, 2018

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China's ride-hailing giant Didi may spin off its car services unit for up to $1.5 billion

Chinese ride-hailing giant Didi Chuxing Technology Co Ltd is looking to spin off its car services unit in a deal worth up to $1.5 billion ahead of its expected initial public offering, people with direct knowledge of the matter told Reuters.

Jul 17, 2018

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Adidas goes green; to use only recycled plastic by 2024

After IKEA, Starbucks and McDonald's, Adidas is the latest corporate to wean off plastic, as it announced that it would use only recycled plastic in all its products by 2024. The project will start this year and is estimated to save 40 tonnes of plastic annually.

Jul 17, 2018

Oil climbs from three-month low as more oil workers strike in Norway

Brent crude prices rose from a three-month low on Tuesday after more oil workers went on strike in Norway, supporting a market that has been dominated by oversupply issues in recent days.

Jul 17, 2018

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NPA 'irregularities': ICICI Bank launches second inquiry

The allegations are related to cases where the bank have inflated profits by at least $1.3 billion over eight years by delaying provisioning for 31 non-performing assets (NPA) accounts.

Jul 16, 2018

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Johnson & Johnson asked to cough up $4.7 billion in ovarian cancer lawsuit

22 women had alleged the asbestos in Johnson & Johnson's talc-based products lead to ovarian cancer. Over 9,000 cases have been filed against the company in connection to ovarian cancer, with the $4.7 billion fine being the highest the company has been asked to pay.

Jul 14, 2018

Infosys net up 5.8% in first quarter, investors to be rewarded

Releasing its earnings for Q1 2018, the company reported Rs 3,613 crore consolidated net profit, growing 12 percent annually a year ago. The company has decided to celebrate its 25th year of public trading by issuing one bonus share for every equity share.

Jul 14, 2018

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SpiceJet to diversify activities beyond aviation; targets cargo and digital space

SpiceJet Managing Director Ajay Singh said that the company is targeting to enter the cargo, courier and logistics business believing that it would play a crucial role in the next few years.

Jul 13, 2018

Accenture acquires AI data analytics firm Kogentix

The purchase will strengthen Accenture Applied Intelligence's growing data engineering business as AI and big data becomes more and more critical to Accenture's business.

Jul 13, 2018

Drug regulator cancels licence of Novartis' painkiller diclofenac over safety concerns

The watchdog directed Dehradun, Uttarakhand and Daman and Diu's drug license authority to cancel the license of Themis Medicare.

Jul 13, 2018

With US trade under a cloud, China opens market to Indian companies

China is considering opening up several markets, predominantly the pharmaceutical market to Indian companies as US trade war leaves the country's medical industry in trouble.

Jul 12, 2018

Airtel Payments Bank gets RBI approval to start taking in new customers

The digital bank was earlier fined Rs. 5 crore and suspended from enrolling new customers after violating KYC norms. The RBI and UIDAI have given the company the green light to begin accepting new customers after Airtel made changes to its KYC policy.

Jul 12, 2018

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Eyeing international operations, Vistara purchases jets worth $1.3 billion

The Tata-Singapore Airlines company has purchased 13 Airbus and six Boeing flights as it eyes domestic expansion, international routes.

Jul 12, 2018

Railways to export six DMU train sets to Sri Lanka

India to manufacture trainsets at its Integral Coach Factory in Chennai in the deal worth Rs. 600 crore. The first train to hit Lankan rails in September, all six to run from next year.

Jul 11, 2018

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