US President Donald Trump announced a one-year trade agreement with Chinese President Xi Jinping on the supply of critical rare earth minerals. The deal, announced after their first in-person meeting in six years at the Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea, aims to ensure the continued flow of rare earth materials essential … Read more
Nvidia Corp has become the world’s first $5 trillion company, marking another milestone in the artificial intelligence (AI) revolution reshaping global markets. The Silicon Valley chipmaker crossed the landmark just three months after breaching the $4 trillion mark, as its stock soared on the back of surging demand for AI chips and new strategic tie-ups, … Read more
US Federal Reserve Chairman Jerome Powell-led Federal Open Market Committee (FOMC) on Wednesday cut the key benchmark rate by 25 basis points, bringing it down to the 3.75-4.00 per cent range. According to the FOMC statement, “uncertainty about the economic outlook remains elevated.”“Available indicators suggest that economic activity has been expanding at a moderate pace. … Read more
NVIDIA to make USD 1.0 billion equity investment in Nokia in addition to new strategic partnership – Nokia’s Board resolved on directed share issuance to NVIDIA NVIDIA to invest USD 1.0 billion (EUR 0.86 billion) in new Nokia shares at a purchase price of USD 6.01 (EUR 5.16) per share Investment comes in addition to … Read more
Curtains appear to have fallen, perhaps momentarily, on months of unsavoury intrigue and infighting at Tata Trusts, with a majority of trustees voting out Mehli Mistry, a long-time confidant of the late group patriarch Ratan Tata and an influential figure in the affairs of the trusts and the broader Tata group. Mistry’s ouster by majority … Read more
PL Capital, a financial services organisation that’s part of the Prabhudas Lilladher Group, has appointed Zarin Daruwala as group chief executive, effective October 13. “Zarin’s arrival marks an important milestone in our mission to build an enduring, institutionally governed organisation–one that combines heritage and trust with capabilities and scale,” said Amisha Vora, chairperson and managing … Read more
AI startups are growing rapidly and attracting a growing share of market investment. With the AI hype reaching new heights, investors are putting large bets on its transformative abilities. The emergence of agentic AIs has further reinforced these hopes. While it is undeniable that large language models (LLMs) have become staple to many workplaces, the … Read more
Domestic steel prices have fallen to a five-year low, trading between Rs 47,000 and Rs 48,000 per tonne, based on BigMint market data.Several factors have influenced these prices. Rising imports, weak export demand and oversupply in the global market all contribute to the decline.Hot rolled coil (HRC) is priced at about Rs 47,150 per tonne. … Read more
The government’s decision to cut taxes on packaged food and personal care products disrupted Hindustan Unilever Ltd’s inventory pipeline and depressed its sales growth in the September quarter. The consumer goods giant, however, expects the drop in prices following the tax cuts and a good monsoon to boost consumer sentiment and boost sales in the … Read more