BUSINESS
French MNC SAFRAN's chief calls on PM Modi
"Yesterday, Mr. Ross McInnes, the Group Chairman of SAFRAN called on the PM Narendra Modi. Fast growing Indian aviation market provides immense scope for companies working in this sector. They also discussed technological partnership with Safran in defence and space," the PMO's tweeted about the meeting.
ED raids premises of Agrani Homes Pvt Ltd for cheating homebuyers
The searches were carried out in Patna, Varanasi, Lucknow and Delhi.The ED had initiated investigation against Agrani Homes Pvt. Ltd., its CMD Alok Kumar and others on the basis of eight FIRs registered against Kumar and his relatives at different police stations in Patna.
PFC okays largest-ever Rs 633 cr EV financing facility to BluSmart Mobility
"E-mobility adoption is going on at a fast pace in the country. Through this funding, PFC has endeavoured to contribute towards India's Nationally Determined Contributions (NDC) goals and this will go a long way for moving towards a healthy and sustainable mode of transport," PFC Chairman and Managing Director Ravinder Singh Dhillon said.
New normal for Brent crude price may be $ 75-80 a barrel
IEA expects the surprise, voluntary output cut of 1.66mmbpd (from May'23 till end-CY'23) by OPEC+ to push the oil market into deficit in 2HCY23; this deficit will be aided by continued expectation of CY23 global oil demand growing by 2.0mmbpd on likely rebound in China. We believe the OPEC+ output cut decision was a reiteration.
Tim Cook inaugurates Apple Saket Delhi store amid huge crowd
The Apple own-branded retail store at Select CityWalk mall in Saket, South Delhi, was jam-packed with fans and customers, as a delighted Cook welcomed customers. The Apple store will offer personalised support and unique experiences for customers to discover the various aspects of the technology.
Fresh layoffs begin at Meta globally, technical employees most hit
Several Meta employees went to LinkedIn to post their ordeal, saying they have been asked to go. "I woke up this morning to the unfortunate news that I was one of the many laid-off from Meta today. If you have any career opportunities, please feel free to share with me! My focus for the past 3 years have been primarily on establishing programs focused on increasing OpEx & headcount org efficiency," posted Teresa Jimenez, business Programme manager at Facebook.
Tesla's income drops 24% to $2.7 bn amid EV price cuts
However, the total revenue grew 24 per cent (year-on-year) in Q1 to $23.3 billion owing to price cuts.Tesla shares fell 4 per cent in after-hours trading late on Wednesday. In an earnings call with analysts, Musk said Tesla will start delivering its long-delayed Cybertruck in the third quarter of 2023. "It takes time to get the manufacturing line going, and this is really a very radical product. It's not made in the way that other cars are made," said Musk.
Excise policy case: Delhi court sends liquor trader to 3-day CBI custody
Special CBI judge M.K. Nagpal of the Rouse Avenue Court sent Dhall to CBI custody till April 21 on an application filed by the agency so that it could unearth the larger conspiracy behind the case. Last week, the court had allowed the probe agency to quiz Dhall. He was arrested by the CBI on Tuesday from the Tihar Jail, where he was in lodged in the money-laundering case.
Paytm posts updated shareholding for Q4 FY23, FPI shareholding almost doubles
The company has seen an increase in the shareholding of domestic institutions as well as foreign portfolio investors (FPIs). Domestic institutional shareholding has grown from 1.9 per cent to 3.2 per cent with mutual funds (MFs) and alternate investment funds (AIFs) increasing their stake. The overall shareholding of mutual funds has increased.
Air India pilots' unions reject proposed pay structure, warn of industrial unrest
The primary bone of contention is the reduction in flying allowance from 70 hours to 40 hours every month under the new structure, which the pilots believe is unfair. The two unions have warned of possible 'industrial unrest' if the management goes ahead with the new terms without their consent. While Air India has stated that it will "continue to engage with the remainder of its staff", the airline has taken a tough stance on the issue, saying that there are "no recognised unions in Air India".
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