BUSINESS
Petrol pump operators warn to go on strike again from Oct 1
A Rajasthan Petroleum Dealers Association member said the government had promised a solution in 10 days on increasing VAT on petrol and diesel.
Air India acquires first Airbus A350-900 through finance lease
According to airline officials, the transaction makes Air India the first scheduled carrier to have acquired an aircraft from an entity registered in Gujarat International Finance Tec-City (GIFT City). The A350-900 is also the first widebody aircraft to have been leased through India’s first International Financial Services Centre (IFSC).
Sellers expect 15% jump in festive sales this year, ramp up ad spend
Despite modest sales growth on e-commerce platforms recently (only 40 per cent of sellers surveyed reported a 10 per cent increase in current quarter sales), anticipation for a festive sales boost among the sellers is high across categories, according to market intelligence firm Redseer Strategy Consultants.
October usually a favourable month for equity markets
Sustained FII selling may continue to weigh on markets. FII selling of Rs 25,000 crore this month has pulled down the banking stocks making their valuations attractive. The Q2 results of the banking segment will be good and the market can respond positively to this, he said.
Elon Musk’s Tesla sued for racial discrimination of Black employees in US
According to the EEOC’s suit, since at least 2015 to the present, Black employees at Tesla’s Fremont, California manufacturing facilities have routinely endured racial abuse, pervasive stereotyping, and hostility as well as epithets such as variations of the N-word, “monkey”, “boy”, and “black b***h”.
China's Evergrande chairman put under police surveillance for illegal crimes
Evergrande said its shares would remain suspended until further notice, the BBC reported. It marks another low for the heavily indebted property giant which defaulted in 2021, triggering China's current real estate market crisis, the BBC reported. In August, it filed for bankruptcy in the US in a bid to protect its American assets as it worked on a deal.
Zerodha’s valuation at Rs 30,000cr more reasonable: Nithin Kamath
“Stockbroking and capital market businesses are cyclical and high-risk. Almost every bull run in the markets creates the illusion that somehow participation and activity will keep going up forever." Kamath said that given the uncertainties in the markets, sustaining high revenue growth is not a given.
Music label giant Saregama acquires stake in Pocket Aces
In a stock exchange filing, Saregama mentioned that is paying about $20 million for a 51.82 per cent stake in Pocket Aces and plans to invest an additional $1.8 million in the startup.
Neobanking startup Fi cuts 10% of its staff in restructuring exercise
The company will offer departing employees comprehensive support, including multiple months of severance, extended healthcare provisions, and extended ESOP vesting, reports Entrackr.
Money laundering via illicit trade hovering at 5% of India’s GDP: FICCI study
A report released by the FICCI on Thursday based on data from international agencies states that the impact of India’s illicit financial flows works out to around 5 per cent of the country’s GDP.
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