Author: Neelam Kansarali

Amazon.com Inc. is the world’s first public business to lose a trillion dollars in market value this year, owing to a combination of rising inflation, tightening monetary policy and poor financial reports. Amazon is the world’s first publicly traded business to see its market value plummet by a trillion dollars. According to Bloomberg, this is due to a combination of rising inflation, tightening monetary policies, and disappointing earnings updates, which prompted a historic selloff in the stock this year. It went on to say that Amazon’s stock plummeted 4.3% on Wednesday, bringing its market value down to $879 billion from…

Coal India Limited stocks for the second quarter, reported an interim dividend of Rs 15 per share. The company planned to distribute a dividend of Rs 20 per share for the current year, of which Rs 15 had already been disclosed, according to the ICICI Direct article. In the following years, the brokerage firm anticipates receiving an annual dividend of Rs. 22 and Rs. 25. The Government of India’s Ministry of Coal is the owner of the central public sector enterprise known as Coal India Limited (CIL). Its main office is in Kolkata. It is the world’s biggest government-owned coal…

A statement from Morgan Stanley reported that a policy shift promoting investment, demographic advantages, and public digital infrastructure would catapult India to the world’s third-largest economy by 2027. The article, Why This Is India’s Decade, discusses the trends and regulations that will affect the economy of the nation during the next ten years. According to the report, India’s GDP is expected to double over the next decade, from $3.4 trillion to $8.5 trillion. India will contribute more than $400 billion to its GDP each year, a figure only surpassed by the United States and China according to the study. It…

KKR, an investment firm, announced a $400 million investment in Serentica Renewables, a decarbonization platform that manages the energy transition by giving renewable energy solutions to energy-intensive sectors. On Tuesday, global investment firm KKR announced a $400 million investment in Serentica Renewables, a decarbonization platform that aims to enable the energy transition by providing sophisticated clean energy solutions for energy-intensive, difficult-to-abate sectors. Serentica has signed three long-term power purchase agreements and is in the process of creating 1,500 MW of solar and wind power projects in states such as Karnataka, Rajasthan, and Maharashtra. KKR & Co., Inc., also known as…

SoftBank-backed educational technology unicorn Unacademy has laid off 10% of its workforce, or approximately 350 employees, in the third wave of layoffs in less than a year. In an internal communication to staff, Unacademy cofounder and CEO Gaurav Munjal cited the necessity to decrease costs amid challenging economic conditions as the cause for the layoffs. Unacademy, an education technology company, laid off 10% of its workers, or almost 350 employees, on Monday, as the Indian startup ecosystem faces a funding crunch. Gaurav Munjal, the company’s CEO and co-founder, stated in an internal email to staff that approximately 10% of its…

In intraday trade on Friday, shares of Hindustan Petroleum NSE -3.53% (HPCL NSE -3.53%), a state-owned natural gas and oil corporation, dropped more than 4% to Rs 202 as the business announced its second consecutive quarterly loss. While it had reported a net profit of Rs 1,918.89 crore during the same period last year, HPCL had a net loss of Rs 2,475.69 crore in the quarter from July to September of FY23. The business reported a loss of Rs 8,557 crore in the prior quarter. However, the net loss decreased in the second quarter of fiscal year 2022-23 as a…

Zev Siegl, a co-founder of Starbucks, sampled regional cuisine at Vidyarthi Bhavan while he was in Bengaluru for the Global Investors’ Meet 2022. In 1943, the South Indian eatery Vidyarthi Bhavan was established as a hangout for students. Images of Siegl chowing down on a dish of masala dosa and a cup of classic filter coffee were posted on their official Instagram page. They stated in the Instagram post that they were content to have Mr Zev Siegl. They went on to enlighten their readers about Siegl’s professional career later in the essay. They posted a number of images showing…

Bikaji Foods International Ltd., a producer of snacks and sweets, has raised Rs 262 crore from anchor investors. Public subscriptions for the company’s initial share sale began on Thursday and will end on November 7. According to a circular posted on the BSE website on Thursday night, the company has opted to distribute 87.37 lakh equity shares to anchor investors for a total transaction value of Rs 262.11 crore. Each equity share would cost anchor investors Rs 300. Bikaji Foods International Ltd., a producer of sweet and savory foods, raised Rs 262 crore on Thursday when it opened for public…

Foxconn announced on Tuesday that it has increased bonuses for employees at its Zhengzhou facility in central China as it seeks to quiet employee unrest at the major iPhone manufacturing location over COVID restrictions. The Chinese government has ordered a seven-day lockdown of the area surrounding Foxconn Technology Group’s main plant in Zhengzhou, significantly limiting shipments in and out of the world’s largest iPhone manufacturer. The lockdown will run until November 9, according to a statement issued on the local government’s WeChat account. According to the authorities, only vehicles transporting needs are permitted to operate. The notification was issued after…

Customers suffering from excessive fuel prices will be relieved to learn that OMCs have reduced the price of commercial LPG cylinders beginning Tuesday, November 1. The price of a 19-kg commercial LPG cylinder has been reduced by Rs 115.50 per cylinder, effective November 1, 2022. With immediate effect, the cost of a Commercial LPG Cylinder has been reduced by Rs 115.50 per unit. Notably, since June, the price of the 19 kg commercial LPG cylinder unit has been reduced seven times. The price drop was in line with the drop in global energy prices. Although domestic cooking gas costs have…