Something ‘super weird’ is going on: Musk after storming of Tesla’s Berlin plant
New Delhi, May 11 - Tesla CEO Elon Musk on Saturday said something "super weird" is going on, as at least 800 activists stormed Tesla’s gigafactory near Berlin to protest its expansion plans.
Self-driving tech company Motional sacks nearly 550 employees in US
San Francisco, May 11 - Autonomous vehicle technology company Motional has sacked around 550 employees, or about 40 per cent of its workforce, in the US, reports said on Saturday.
No plan to launch Google search engine rival: OpenAI’s Sam Altman
New Delhi, May 11 - OpenAI CEO Sam Altman on Saturday refuted reports that his artificial intelligence (AI) company is going to launch a search engine like Google.
Dharani Sugars out of Insolvency Process, to restart plants in 3 months
Chennai, May 10 - Exiting the Corporate Insolvency Resolution Process (CIRP) list, sugar manufacturer Dharani Sugars & Chemicals Limited (DSCL) hopes to restart operations at its three plants soon, said a top official of the PGP Group.
Public sector oil giants post 25-fold jump in combined profit at Rs 86,000 crore for 2023-24
New Delhi, May 10 - The state-owned oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum have not only ensured fuel availability at affordable rates in 2023-24, with one of the lowest fuel price inflation globally in India, but they have also
ICICI Bank’s cards and payments head Bijith Bhaskar quits
New Delhi, May 10 - ICICI Bank on Friday said that Bijith Bhaskar, who heads the cards, digital payments, prepaid solutions, consumer finance, and e-commerce and merchant ecosystems at the company, has resigned, effective from May 18.
High growth of consumer durables, capital goods encouraging: Industry on IIP data
New Delhi, May 10 - High growth of consumer durables at 9.5 per cent and capital goods at 6.1 per cent indicates expansion of investment trajectory in the country, industry experts said on Friday after the release of the Index of Industrial Production
India’s industrial production clocks 4.9 pc growth in March
New Delhi, May 10 - India’s Index Industrial Production (IIP) clocked a 4.9 per cent growth in March this year over the same month of the previous year, as per the figures released by the Ministry of Statistics on Friday.
India’s forex reserves surge by $3.7 bn to touch $641.6 bn mark
Mumbai, May 10 - India's foreign exchange reserves rose by $3.7 billion during the week ended May 3 to touch the $641.59 billion mark, the latest RBI data released on Friday showed.
IISc, Lam Research upskill engineers in semiconductor fabrication tech
New Delhi, May 10 - The Indian Institute of Science (IISc) on Friday announced that it successfully concluded the pilot to upskill engineers in semiconductor fabrication technology, which was announced in partnership with the US-based semiconductor firm Lam Research, during Prime Minister Narendra
Bank of Baroda Q4 net profit rises to 4,886 crore
Mumbai, May 10 - Government-owned Bank of Baroda reported a net profit of Rs 4,886 crore for the January-March quarter of 2023-24, up 2.3 per cent from the corresponding figure of Rs 4,775 crore in the same period a year ago.
Vedanta fully acquires Japanese display glass major AvanStrate
Mumbai, May 10 - Leading natural resources company Vedanta on Friday announced it is fully acquiring AvanStrate, a Japanese manufacturer of high-quality display screens, as it positions itself to establish India’s first integrated fabrication unit for display glass and panels.
Consumer tech company Nothing logs 144 pc growth in Q1
New Delhi, May 10 - London-based consumer tech brand, Nothing, on Friday said it achieved 144 per cent growth (year-on-year) in the first quarter (January-March period) this year.
Wipro appoints Vinay Firake as CEO of APMEA strategic market unit
Bengaluru, May 10 - IT major Wipro on Friday appointed Vinay Firake as the CEO of APMEA (Asia Pacific, India, Middle East and Africa) strategic market unit (SMU), with immediate effect.
Regional airline starts flights bound for Bathinda, Ludhiana
Chandigarh, May 10 - India’s fastest-growing regional airline, flybig, on Friday, announced the expansion of flight frequency among Bathinda, Ghaziabad, and Ludhiana.
Sensex up by 260 points, energy and metal lead rally
Mumbai, May 10 - Indian benchmark indices went up nearly half per cent on Friday, following a rally in energy and metal shares. The relief rally came after the Sensex plunged more than 1,000 points on Thursday.
Tata Motors posts 222 pc jump in Q4 net profit at Rs 17,410 crore
Mumbai, May 10 - Auto giant Tata Motors on Friday reported a 222 per cent jump in its consolidated net profit at Rs 17,407.18 crore for the Jan-March quarter of 2023-24 on the back of robust sales at UK subsidiary Jaguar Land Rover.
Thomas Cook India launches ‘TCPay’ for international money transfers
New Delhi, May 10 - Omnichannel forex services company Thomas Cook India on Friday launched a new digital service called 'TCPay' to bring ease and efficiency to international money transfers.
Indian IT companies become more conservative in FY25 growth projections
New Delhi, May 10 - As the IT sector goes through muted revenue growth, companies have become more conservative in their FY25 projections, baking in anticipated delays in executions and project closure activities, market analysts said on Friday.
SEBI’s move to simplify operations of stock brokers: Zerodha’s Nithin Kamath
New Delhi, May 10 - Zerodha’s Co-founder and CEO Nithin Kamath on Friday said that the proposal by the Securities and Exchange Board of India (SEBI) that investors' securities should directly go to their demat accounts, will significantly simplify the DP (depository participant)