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The Economic Times
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.
The Economic Times India-Saudi Arabia strengthen trade ties at 2nd ministerial meeting of economy and investment committee
Union Minister Piyush Goyal and Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman Al Saud, co-chaired the second Ministerial Meeting of the Economy and Investment Committee under the Saudi-India Strategic Partnership Council (SPC).
The Economic Times Are India's consumption hiccups signalling stress?
India's urban middle class is cutting back on spending due to inflation and unemployment, revealing weakness in urban demand for the second consecutive quarter. Major companies like Hindustan Unilever and Reliance's retail unit have reported softer consumption, impacting their earnings and the broader economic outlook.
The Economic Times Payments firms slash cashbacks, incentives on funding drought
Consumer payment companies like PhonePe, Paytm, Amazon Pay, and Cred have significantly reduced their marketing expenditures and customer incentives, reflecting a maturing digital payments market in India. This trend indicates a shift from aggressive customer acquisition strategies to a more sustainable approach focused on profitability.
The Economic Times Silver lining amid funding winter: IT firms acquiring Indian startups, smaller firms
Most of them are making acquisitions to strengthen their capabilities so that they do not miss out when technology spending, especially in discretionary spends, returns, say analysts.
