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RBI Governor Shaktikanta Das at an event earlier this month. (ANI)

‘Global economy in eye of storm but India withstood shocks’: RBI governor Shaktikanta Das | Top quotes

The Reserve Bank of India on Friday hiked the key lending rate – the repo rate – by 50 basis points to a 3-year-high of 5.9 per cent. As we celebrate Mahatma Gandhi's birth anniversary…: “As we celebrate Mahatma Gandhi's birth anniversary in another two days, I Dasonclude by statement with his insightful words – 'We are wakeful, ever resilient, ever striving.”

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”.

Representational image

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.

Union finance minister Nirmala Sitharaman will table the budget on February 1 (File Photo/ANI)

Budget 2023: What fintech sector expects from finance minister Sitharaman?

On February 1, finance minister Nirmala Sitharaman will present the Union budget for the fiscal year 2023-24. The budget will be significant because it will be the last full budget of the Modi government before it faces parliamentary elections in April-May next year. (The views expressed here are those of the individual analysts, and not of Mint or Hindustan Times)

Union Finance Minister Nirmala Sitharaman along with the Ministers of State for Finance Pankaj Chaudhary and Bhagwat Karad arrives at Parliament ahead of the Union Budget 2022-23 presentation in Lok Sabha, in New Delhi on Tuesday. (Amlan Paliwal)

Union budget: How govt prepares annual financial statement?

Budget 2023: 'No new taxes for income till...', FM on middle class issues (2.) A circular is issued to all ministries, states, Union territories and autonomous bodies, with the finance ministry asking them to prepare their estimates for the coming year. Then, the ministries hold extensive consultation with the Niti Aayog on the proposals received. The finance minister holds pre-budget meeting with various stakeholders regarding their proposals and demands.

Union finance minister Nirmala Sitharaman (PTI)

For 2023-24, Centre to peg nominal GDP growth at about 11% in budget: Reports

India is likely to peg its nominal gross domestic product growth at around 11% in the annual budget next week, marking a slowdown from its estimate for the current fiscal year due to the prospect of weak exports, two government officials said. The government expects nominal growth of 15.4% for the current fiscal year that ends on March 31. India's finance ministry did not reply to an email and a message seeking comments.

Twitter CEO Elon Musk.

Musk tells jury buying Tesla at $420 a share was no joke

The case revolves around a pair of tweets in which Elon Musk said, "funding secured" for a project to buy out the publicly-traded electric automaker, then in a second tweet added that "investor support is confirmed."

Google CEO Sundar Pichai

‘Job cuts done to avoid much worse issues…': Google CEO Sundar Pichai

Days after Technology giant Google announced that it is laying off 12,000 employees, its Chief executive officer (CEO) Sundar Pichai on Tuesday said that it was made to avoid “much worse issues”, reported Bloomberg. Read: EPichaishares how stranger saved him from car accident, asks Twitter for tales of kindness. Google began laying off employees amid a big churn in the technology sector.

Spotify latest tech name to cut jobs, axes 6% of workforce.

Spotify joins tech firms in cutting jobs, lays off 6% employees

Music streaming service Spotify says it's cutting 6% of its workforce, becoming yet another tech company resorting to layoffs as the economic outlook worsens. Big tech companies like Amazon, Microsoft and Google announced tens of thousands of job cuts this month as the economic boom that the industry rode during the Covid pandemic waned. CEO Daniel Ek said Stockholm-based Spotify was no different. “I take full accountability for the moves that got us here today,” Ek said.

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

Axis Bank Q3 result: Profit jumps 62% to 5,853 cr

Indian private lender Axis Bank Ltd on Monday reported a stronger-than-expected 62% jump in quarterly profit, as a surge in interest income outpaced a rise in provisions for bad loans. Axis Bank's net profit rose to 58.53 billion rupees in the three months to December 31 from 36.14 billion rupees a year ago, despite a 7.7% rise in provisions, the Mumbai-based bank said in an exchange filing.

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