Hero MotoCorp on Wednesday said that the firm needs to recover its market share in the 125-cc engine motorcycle segment as it sees an opportunity in building a premium portfolio. Hero MotoCorp’s sales in the 111cc-126 cc motorcycle segment increased by 5.65 per cent year-on-year to 452,274 units in April-December of FY23, according to data … Read more
Walmart-owned e-commerce giant Flipkart is among SoftBank’s list of portfolio companies which are poised to go public. Other such portfolio companies of the Japanese investor which are expected to list publicly include the British chip designer arm, TikTok parent ByteDance, mobile payment system PayPay, Mexican online used-car dealership Kavak and Brazilian real estate startup QuintoAndar. … Read more
The revamping of Microsoft’s second-place search engine could give the software giant a head start against other tech companies in capitalizing on the worldwide excitement surrounding ChatGPT, a tool that’s awakened millions of people to the possibilities of the latest AI technology. Along with adding it to Bing, Microsoft is also integrating the chatbot technology … Read more
To economic policy makers in the rest of the world, the annual presentation of India’s federal budget must be a mystifying exercise. It’s less a statement of accounts than a state of the union address, laying out government priorities for the year ahead. Media coverage is carnivalesque: This year, for some reason, one prominent channel … Read more
Meta, Amazon, Microsoft and Alphabet’s severance packages will cost up to $4.7 billion. The tech giants have collectively laid off tens of thousands of workers over the past few months. Google parent company Alphabet will have the highest severance cost, at a maximum of $2.3 billion. Big tech firms are accruing billions in costs from … Read more
The rating agency CRISIL, the Indian arm of Standard and Poor’s (S&P), today said that it keeps all outstanding ratings, including that of Adani group entities under continuous surveillance. Any adverse regulatory or government action in the wake of the research report, emerging issues around corporate governance will be key monitorable, CRISIL said in a … Read more
The Narendra Modi government on Wednesday slashed its fertiliser and food subsidies by 22% and 31% each for the upcoming fiscal. India’s expenditure on overall subsidy and subsidy-related schemes has seen a cut of around 28% at Rs 4.03 lakh crore. While the Centre had estimated an expenditure of Rs 3.56 lakh crore, it has … Read more
Seeking to widen the tax base, the government on Wednesday proposed to tax income distributed by business trusts like REITs and InVITs in the form of debt repayments at the hands of unitholders. “It is proposed to tax distributed income by business trusts in the hands of a unit holder (other than dividend, interest or … Read more
Gautam Adani’s beleaguered empire is spiraling into crisis, as the fallout from a short-seller’s fraud allegations leads to a worsening meltdown in the indebted conglomerate’s securities. Bonds of the Indian billionaire’s flagship firm plunged to distressed levels in US trading, and the company abruptly pulled a record domestic stock offering after the Adani group suffered … Read more