Swipe up for the next story
Gopichand Hinduja, billionaire and co-chairman of Hinduja Group India Ltd.

Hinduja brothers, Indian billionaires on UK rich list, end bitter family feud

India's billionaire Hinduja family has agreed a worldwide truce in a long feud after a legal battle over the future of its global business empire, a London court ruling published on Friday showed. The Court of Appeal in London largely rejected an appeal over restrictions on reporting the dispute, which was contested in a specialist court in a case which centred on the health of 86-year-old patriarch Srichand Hinduja.

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.


IDBI Bank Q3 result: Net profit grows 60% to 972 cr

State-owned IDBI Bank on Monday reported a 60 per cent growth in net profit to 927 crore in the third quarter ended on December 31, on lower provisioning and better interest income. The bank's net interest income (NII) improved by 23 per cent during the third quarter of current fiscal to 2,925 crore, as against 2,383 crore in the same period last fiscal.

Union Budget 2023 will be presented by Finance minister in the first week of February.

What India Inc expects from Union Budget 2023| 10 things to know

Indian business leaders are convinced that Budget 2023 to 2024 will support economic growth across sectors and industries, despite a possible global downturn and geopolitical unrest. They forecast that the Indian economy will grow by more than 6.5% during this time, a pre-budget survey by Deloitte India, financial service provider firm, states. READ: Reading the Union Budget with state govt spending statistics India Inc. expectations from Budget 2023: Top points 1.

H1B and L1 visas have facilitated the entry of Indian IT professionals.

After mass layoffs, thousands of Indian techies struggle to find new jobs in US

Thousands of Indian IT professionals in the US, who have lost their jobs due to the series of recent layoffs at companies like Google, Microsoft and Amazon, are now struggling to find new employment within the stipulated period under their work visas following the termination of their employment to stay in the country. READ: 'Any big tech hiring?' Amazon staffer Gita (name changed) arrived in the US only three months ago.

Story Saved
Saved Articles
My Reads
My Offers
Sign out
New Delhi 0C
Friday, January 27, 2023
Start 15 Days Free Trial Subscribe Now
Register Free and get Exciting Deals