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Axis Bank's logo is seen next to ATM machines at its corporate headquarters in Mumbai.

Axis Bank revises interest rates for domestic fixed deposits below 2 crore

Private sector lender Axis Bank has revised its interest rates for domestic fixed deposits less than Rs 2 crore, which are effective from October 1, 2022. The move comes a day after the Reserve Bank of India increased the repo rate by 50 basis points to a three-year high of 5.90 per cent.

Bidding for the Adani Enterprises share sale for retail investors started on Friday and will close on January 31. The firm has set a floor price of 3,112 rupees ($38.22) a share and a cap of <span class='webrupee'>₹</span>3,276.

Adani Group begins big share sale as short seller triggers $37 billion rout

Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam Adani - have lost a combined $36.5 billion in market capitalisation since Wednesday, with US bonds of Adani firms also falling after Hindenburg Research flagged concerns in a January 24 report about debt levels and the use of tax havens. Adani Group has dismissed the report as baseless.

Adani Ports and Adani Enterprises were the top losers on the Nifty 50 on Friday, ahead of the latter's $2.45 billion follow-on public offering (FPO).

Adani Group-Hindenburg fallout drags Indian shares to 3-month low: Report

The Nifty 50 index was down 1.09% at 17,697 as of 11.25 am IST, while the S&P BSE Sensex fell 1.16% to 59,504.92. The indexes have slid more than 1.7% each in the truncated week, with most of it caused by US short-seller Hindenburg Research's report on Wednesday that flagged concerns about the Adani Group's debt levels and use of tax havens.

A man holds a sign during a rally in support of Amazon workers' on strike, outside the Amazon warehouse, in Coventry, Britain, Wednesday.

'At Amazon, we are questioned over toilet breaks': Workers’ shocking revelation

As the workers of online retail giant Amazon hold strikes in the United Kingdom over pay, some have shared their ordeal of working in “severe” conditions at the company, with shocking claims that even their toilet breaks are timed. A BBC report cited workers at the company's Coventry warehouse in England who said they are constantly monitored and “upbraided for an idle time lasting just a few minutes”.

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US economy slowed but still grew at 2.9% rate last quarter

The US economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. Thursday's estimate from the Commerce Department showed that the nation's gross domestic product — the broadest gauge of economic output — decelerated last quarter from the 3.2% annual growth rate it had posted from July through September. Federal government spending also helped lift GDP.

Adani Group vehemently objected Wednesday to allegations by short-selling firm Hindenburg Research that caused shares in its companies to plunge by as much as 8%.

Who is behind Hindenburg, the company that is shorting Adani?

Short-seller Hindenburg Research disclosed on Wednesday short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. The allegations sent bonds and shares in the conglomerate's companies down. Hindenburg has a track-record of finding corporate wrongdoings and placing bets against the companies. On its website, Hindenburg says it looks for "man-made disasters," such as accounting irregularities, mismanagement and undisclosed related-party transactions. The company invests its own capital.

Finance minister Nirmala Sitharaman at an earlier halwa ceremony (PTI)

Ahead of Budget 2023, ‘Halwa’ ceremony to be held tomorrow | All you need to know

The traditional 'Halwa' ceremony, that takes place ahead of the presentation of the annual February 1 Union budget, will be held on January 26, the ministry of finance said on Wednesday. “Along with the Union FM, the Halwa ceremony will be attended by the Union ministers of State for Finance, along with Secretaries of the Ministry of Finance @FinMinIndia besides senior officials and members of the Union Budget Press,” it added.

On January 22, Google’s parent company Alphabet said it would lay off nearly 6% of its staff or 12,000 employees. (File)

Google sacks married couple with 4-month-old baby; woman was on maternity leave

A married couple working with Google was fired as part of the tech giant's mass layoffs while the woman was on maternity leave, according to a Business Insider report. High school sweethearts Allie and Steve, who have a four-month-old baby, had been working with Google for the past six and four years, respectively. A former marketing manager at Google, Allie went on parental leave soon after the birth of her first child in 2022.

The company in consultation with the NSE, is required to appoint an independent law firm to take effective steps for recovery of the outstanding dues.

Sebi slaps 26 crore fine on Coffee Day Enterprises, asks to be paid within 45 days

Sebi has directed Coffee Day Enterprises Ltd to take all necessary steps for recovery of entire dues from Mysore Amalgamated Coffee Estates Ltd (MACEL) and its related entities along with due interest that are outstanding to the subsidiaries.

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