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The Economic Times
The Economic Times Bibek Debroy, economist and Chairman of PM’s Economic Advisory Council, passes away
Bibek Debroy Death News: Bibek Debroy, esteemed economist and Chairman of the Prime Minister’s Economic Advisory Council, has passed away. As a trusted advisor, he significantly influenced India's macroeconomic policies and reforms. His scholarly contributions and insights on fiscal policy and public sector management were globally acclaimed.
The Economic Times Cognizant Q3 profit up 2.8% sequentially; full year guidance revised up
The Nasdaq-listed technology major saw its third quarter revenue growing by 4% sequentially at $5 billion. On a year-on-year (YoY) basis, the revenue was up 3%.
The Economic Times Tech, e-commerce giants rake in Rs 60,000 crore in FY24 ad revenue
Tech giants Google, Meta, Amazon, and Flipkart collectively generated over Rs 60,000 crore in ad revenue in FY24, marking a 9% increase from the previous year. This growth, driven by increasing digital ad spending and user engagement, underscores the rapid expansion of India's digital advertising market.
The Economic Times Tata Motors CFO Balaji's stock soars high within group
PB Balaji, Tata Motors' finance chief, is expanding his influence within the Tata Group companies, being appointed to boards like Air India and Titan. Hand-picked by chairman N Chandrasekaran in 2017, Balaji has been instrumental in Tata Motors' turnaround, focusing on debt reduction, operational efficiency, and electric vehicle initiatives. Tata Motors is now debt-free in India with positive cash reserves.
The Economic Times India-Canada tensions likely to hinder immigration
Canada's escalating dispute with India over alleged violence against Sikhs is expected to increase cyber espionage from India and may hinder immigration processes, though analysts believe trade will not be immediately affected. Tensions intensified after a Canadian official claimed Indian Minister Amit Shah orchestrated violent plots against Sikhs, following Prime Minister Trudeau's allegations linking Indian agents to the murder of Sikh leader Hardeep Singh Nijjar.
The Economic Times Apple set iPhone and iPad revenue records in India, opening four more stores, says CEO Tim Cook
Apple achieved a new revenue record in India for the quarter ending September 2024, with a 6% revenue increase globally. CEO Tim Cook announced the opening of four more stores in India. iPhone and iPad sales showed strong growth. Apple became the second highest market share holder in India in terms of value.
The Economic Times European Commission clears Reliance-Disney merger deal
The European Commission approved a joint venture between Reliance Industries, Walt Disney, and BTS Investment. This will create India's largest media conglomerate, valued at $8.5 billion. The merger will include over 100 TV channels and two streaming platforms. Reliance will hold a controlling stake, and the merger is expected to be finalized in early November.
The Economic Times India needs 10 million jobs annually to fuel growth: Goldman Sachs
India needs to add 10 million jobs yearly from 2024-25 to 2029-30 for steady growth, a Goldman Sachs report reveals. Creating jobs in agriculture and services played a significant role recently. Policies suggested include boosting social housing, expanding IT hubs, and supporting labor-intensive manufacturing. Female labor participation in rural areas is rising.
The Economic Times Visa is cutting jobs, and why it is bad news for techies
Visa plans to lay off around 1,400 employees and contractors, focusing heavily on technology roles, by the end of 2024. Despite the cuts, Visa aims to continue its growth trajectory by evolving its operational model and remains committed to long-term hiring goals. Further details may emerge in the upcoming earnings call.
The Economic Times Microsoft forecasts slower cloud business growth in second quarter
Microsoft forecast second-quarter Azure revenue growth of 31% to 32%, lagging the 32.25% growth expected on average by analysts, according to Visible Alpha. Azure revenue rose 33% in its fiscal first quarter ended Sept. 30, slightly ahead of estimates.
The Economic Times OpenAI releases ChatGPT search engine, taking on Google
OpenAI has enhanced its ChatGPT AI chatbot with real-time search engine capabilities, allowing users to get fast, up-to-date answers with links to relevant sources. This upgrade challenges Google's web search dominance and integrates the feature for paying subscribers, later extending to free users.
The Economic Times L&T eyes aerospace expansion to ride India's $44 billion private space market push
INDIA-SPACE-L-L&T eyes aerospace expansion to ride India's $44 billion private space market push
The Economic Times Cipla shares zoom nearly 10% as USFDA classifies Goa facility for voluntary action
Cipla's shares surged 9.8% after the USFDA classified its Goa facility inspection as Voluntary Action Indicated (VAI), allowing for critical drug launches, including the Abraxane generic. Over the past year, the stock has risen 28.26%, with a 23% increase this year, despite a recent 7% decline.
The Economic Times Swiggy's $1.3 billion listing battles curse of blockbuster IPOs in India
Traders hope Diwali boosts stocks, while Nifty faces its worst monthly drop in four years. Swiggy’s IPO shows tepid enthusiasm, mirrored in Zomato’s recent decline. Options traders are preparing for post-US election volatility. October car sales data may disappoint, with Nomura predicting weak growth. Adani bonds excel, recovering from last year's setback.
The Economic Times Indian stocks continue to register losses; Sensex slips over 500 points
Stock indices settled substantially lower Thursday, with foreign portfolio investors (FPIs) continuing to offload their assets in India lately, coupled with lower-than-expected July-September earnings of India Inc.
