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The Economic Times
The Economic Times Tech giants are set to spend $200 billion this year chasing AI
Wall Street recently criticised major tech firms for their AI spending, but Amazon, Microsoft, Meta, and Alphabet plan to invest even more, exceeding $200 billion this year. These companies are securing chips and building data centers to support AI, aiming for future profitability despite current high expenses.
The Economic Times Is there a 'China angle' behind Microsoft CEO Satya Nadella’s $5.5 million salary cut?
Satya Nadella’s compensation jumped by 63% in 2024 to $79.1 million, driven by an increase in stock awards. He requested a reduction in cash incentive due to cybersecurity concerns. Under his leadership, Microsoft has seen significant financial growth since '14.
The Economic Times Festive Vibes: Economists see food inflation and geopolitical conflicts as possible headwinds
The Unified Payments Interface (UPI) settled 16.58 billion transactions in October 2024, up 45% yearon-year. The demand for work under the government’s flagship rural employment scheme fell for the 12th straight month in October from a year before, dropping 9.2% from a year earlier, indicating availability of job opportunities elsewhere in the economy.
The Economic Times GST collection grows 8.9% Y-o-Y in October at Rs 1.87 Lakh Cr
GST Collections for the month of October grew 8.9% year-on-year at Rs 1.87 Lakh Crore witnessing an uptick compared to Rs 1.73 Lakh Crore in September 2024. Maharashtra recorded the highest GST collections among all states, registering Rs 31,030 crore, a 14% year-on-year increase compared to October 2023.
The Economic Times Ola Electric reclaims 31% market share as festive sales rise
Despite the recent rise in sales, Ola Electric has faced an increase in customer complaints about after-sales service, software issues, and hardware malfunctions, which contributed to a decrease in sales and market share over the past few months.
The Economic Times Quick commerce can be bigger than food delivery, won't be a duopoly: Swiggy founder Sriharsha Majety
On Wednesday, online food delivery company Swiggy announced the price band for its upcoming Rs 11,300 crore IPO as Rs 371-390 apiece. The IPO will open for bidding on November 6 and will be available till November 8.
The Economic Times Four important pension, GPF payment updates that government employees, pensioners should know
The DoPPW has announced several updates related to timelines for the completion of various activities and the timely distribution of pension benefits and General Provident Fund (GPF) payments. Here is a look at those important updates.
The Economic Times Marutis and Tatas had a big headache in run up to Diwali parties. Brighter days now?
Indian car sales have seen a decline for three consecutive months, with September recording a 1-2.5% drop despite significant discounts during the festive season. Major automakers like Maruti Suzuki, Hyundai, and Tata Motors reported lower sales, leading to high inventory levels at dealerships. Nonetheless, festive season demand is expected to improve sales.
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.
