BUSINESS
Musk risks new fight with SEC over late report on Twitter stake
According to Fox Business, the Tesla CEO on Monday disclosed that he had acquired a 9.2 per cent stake in Twitter -- making him its largest shareholder -- in an SEC form that investors are required to file when they own more than 5 per cent of a company. The filing, dated March 14, revealed that Musk bought about 73.5 million shares for roughly $2.9 billion.
Flexible workspace provider IndiQube raises $30 mn to double India footprint
Out of $30 million, IndiQube's promoters have infused $17 million, said the startup. "Over the next two years, we plan to more than double our pan-India footprint to over 10 million square feet venture into more than 15 tier-II cities and further ramp up technology integration, creating a consistent experience for our clients," said Rishi Das, co-founder of IndiQube.
Equity indices settle low, HDFC twins share decline
Sensex settled 0.9 per cent or 566 points down at 59,610, whereas Nifty dipped 0.8 per cent or 150 points down at 17,807. Among the individual stocks, HDFC Bank, HDFC, HDFC Life, HCL Technologies, and Tech Mahindra were the top five losers among the Nifty 50 companies during the session, tanking 3.6 per cent, 3.3 per cent, 2.4 per cent, 2 per cent, and 2 per cent, respectively.
Zomato, Swiggy suffer brief outage due to 'technical glitch'
According to website outage monitor platform DownDetector, the Amazon Web Services (AWS) servers went down at the same time on Wednesday afternoon, indicating that it may have caused the brief outage. However, it could not be confirmed. While 55 per cent users reported problems with server connection at AWS, 38 per cent had problems with AWS Console, according to DownDetector.
India to see average 9% salary hike this year, 2% more than pre-Covid era
Growth sectors include the banking and financial services industry, property and construction, as well as manufacturing. Senior-level professionals with computer science backgrounds will be in an especially good position to negotiate for some of the highest paying jobs in India, due to the growth of e-commerce and entire sectors undergoing digital transformation, it added.
ITC goes beyond Plastic Neutrality in 2021-22, achieves yet another Sustainability Milestone
The Company collected and sustainably managed more than 54,000 tonnes of plastic waste across 35 states and union territories. The amount of plastic waste managed exceeded the amount of plastic packaging utilised by ITC during the year, enabling the company to achieve the milestone of plastic neutrality.
War in Ukraine to lower growth, increase inflationary pressures globally: KPMG
The bi-annual report provides economic forecasts and analysis from the global organization's team of economists in territories and regions throughout the world. In the report, it warns that progress on global issues including public health and climate change has slowed as political and business leaders grapple with the broad implications of the war in Ukraine.
Equities extend losses; MPC meet in focus for fresh cues
At 9.45 a.m., Sensex was 0.6 per cent or 347 points down at 59,830 points, whereas Nifty 0.7 per cent or 125 points down at 17,833 points. Among the individual stocks, HDFC Bank, HDFC, Bajaj Auto, Kotak Mahindra Bank, and Axis Bank were the top five losers among the Nifty 50 companies, while NTPC, Coal India, UPL, Tata Steel, and BPCL the top five gainers, NSE data showed.
1 in 2 employers keen on hiring in April-June as India reopens: Report
Out of the 21 sectors reviewed in the country, 16 indicated keenness to hire. The IT sector (95 per cent of the employers keen to hire) was followed by educational services (86 per cent), e-commerce and technology startups (81 per cent), and healthcare and pharmaceuticals (78 per cent), according to people supply chain company TeamLease Services.
Not necessary to activate 'Counter-Cyclical Capital Buffer': RBI
In financial parlance, the 'CCyB' applies on banks to promote sustainable provision of credit to the economy in time of distress. The framework on 'CCyB' was put in place by the Reserve Bank in terms of guidelines issued on February 5, 2015. Accordingly, the guidelines said that 'CCyB' would be activated as and when the circumstances warranted, and that the decision would normally be pre-announced.
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