BUSINESS
Dalmia Cement to acquire cement, power plants of Jaiprakash Associates
In a regulatory filing on Monday, Dalmia Bharat said the total cement capacity to be acquired will be 9.4 million ton (along with clinker capacity of 6.7 million ton and thermal power plants of 280MW). These assets are situated in the states of Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.
UK economy rebounds in Oct but recession still looms
October's rebound followed a fall of 0.6 per cent in September, which was affected by the extra bank holiday for the funeral of Queen Elizabeth II, Xinhua news agency quoted the Office for National Statistics (ONS) as saying on Monday. Car sales rebounded after a very poor September, while the health sector also saw a strong month, said ONS director of economic statistics Darren Morgan.
Mounting losses, seller woes spell trouble for Flipkart, India's highest cash-burning startup
Flipkart spent more than $3.7 billion over the course of the year, following its latest round of funding in July 2021 to maintain consumer attention in a market dominated by Amazon as well as more recent domestic firms.
'Earnings recovery for domestic airlines will be slow-paced due to elevated ATF prices'
"The domestic aviation industry continues to witness recovery, with domestic passenger traffic for November 2022 estimated at nearly 117 lakh, about 3 per cent higher compared to nearly 114 lakh in October 2022 and about 11 per cent higher in comparison to the domestic passenger traffic in November 2021. Although, it fell short by nearly 10 per cent, compared to pre-Covid levels of November 2019," the report said.
Retail inflation falls to 10-month low of 5.88%, factory output contracts
This is the first fall seen in retail inflation after a continuous rise for the past 10 months. The slide in retail inflation was mainly due to fall in food inflation, which went down to 4.67 per cent in November. In October it was at 7.01 per cent, according to data released by the Ministry of Statistics and Programme Implementation on Monday.
No shortage of pilots in India, says Centre
Minister of State for Civil Aviation, Gen V.K. Singh (retd), told the Rajya Sabha, in a written reply, that there is however, a shortage of type-rated commanders/PIC (Pilot-in-command) on certain types of aircraft and the same is being managed by utilising foreign pilots by issuing Foreign Aircrew Temporary Authorisation (FATA). Presently, there are 82 FATA holders in India, he said.
Former FTX CEO Sam Bankman-Fried arrested in the Bahamas
The US Attorney for the Southern District of New York (SDNY), Damian Williams, confirmed the arrest on Twitter, saying that Bahamian authorities arrested SBF at the request of the US government, based on a sealed indictment filed by the SDNY. "We expect to move to unseal the indictment in the morning and will have more to say at that time," he posted on Tuesday.
Sundar Pichai refuses to quell upcoming mega layoffs fears at Google
He told employees that what the company is trying hard to do "is to make important decisions, be disciplined, prioritise where we can, rationalise where we can, so that we are set up to better weather the storm, regardless of what's ahead". "I think that's what we should focus on and try and do our best there," Pichai added.
Global govt IT spending to hit $589 bn next year
"Government organisations are continuing to modernise legacy IT and invest in initiatives that improve access to digital services as constituents increasingly demand experiences that are equivalent to online customer interactions in the private sector," said Daniel Snyder, Director Analyst at Gartner.
Not waived off loans to big companies, Nirmala Sitharaman tells Parliament
Replying to a question in the Lok Sabha by CPI member K. Subbarayan, who sought to know whether the government will waive off education loans of poor students who are pursuing higher education, just as the "government has written off several lakhs of crores rupees for the big companies", Nirmala Sitharaman said that "we have not waived off the loans availed by big companies".
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