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Business

Moving to Mumbai from Chennai tougher than becoming TCS CEO: K Krithivasan

Tata Consultancy Services' CEO-designate K Krithivasan said that moving to Mumbai from Chennai would be more challenging for him than becoming IT major's CEO.

Ex-Domino's CEO bought ₹3 lakh pizzas at company's expense, earned ₹58 cr that year

Before retiring as Domino's Pizza CEO in 2022, Richard Allison was compensated for a nearly $4,000 (around ₹3 lakh) personal pizza expense, according to the company's 2022 proxy filing with the SEC.

Rupee falls 11 paise to close at 82.03 against US dollar

The Indian rupee declined 11 paise to close at 82.03 against the US currency on Wednesday after US Federal Reserve Chair Jerome Powell warned that US interest rates might go up higher than expected.

'My time more valuable than that of Adani, Ambani, Tata, Birla,' says Yoga guru Ramdev in Goa

Key Highlights:

Yoga guru Ramdev has said that his time is more valuable than the time of billionaire industrialists such as Mukesh Ambani and Gautam Adani.
He made the remark while addressing a function organised to felicitate his aide Acharya Balkrishna.
The Patanjali Ayurved founder hailed Balkrishna for reviving Patanjali from a sick company to a firm with a turnover of Rs 40,000 crore this financial year
Yoga guru Ramdev, who was in Goa to attend an event, has said that his time is more valuable than the time of billionaire industrialists such as Mukesh Ambani and Gautam Adani.

Elon Musk becomes first person ever to lose $200 billion wealth: Bloomberg

Elon Musk has become the first person ever to lose $200 billion from his net worth, Bloomberg reported.

Tax-free slab may be increased to ₹5 lakh under new regime in Budget 2023

A government official said policymakers are examining the possibility of increasing the tax-free slab to ₹5 lakh in the two-year-old personal income tax regime, as per a report.

North Korea again fires multiple missiles

A day after firing at least 23 missiles into the sea, North Korea on Thursday fired multiple ballistic missiles, including a possible failed intercontinental ballistic missile (ICBM).

Asia’s richest banker Uday Kotak weighs $1 billion real estate fund

Synopsis

Kotak Investment plans to complete the fundraising by the end of this year and to embark on its investment in 2023, focusing on residential property in India’s top five cities, a person familiar with the matter said. Deliberations are ongoing and details including size and investor lineup could still change, the person added.

Economists now expect a recession, job losses by next year

On average, economists put the probability of a recession in the next 12 months at 63%, up from 49% in July’s survey. It is the first time the survey pegged the probability above 50% since July 2020, in the wake of the last short but sharp recession.

Rupee not sliding, Dollar strengthening incessantly: Nirmala Sitharaman in US

Responding to a question on Rupee's performance in the US, Finance Minister Nirmala Sitharaman said she would look at it not as the Rupee sliding but as Dollar strengthening incessantly.

Figment of imagination: Capitalmind CEO on viral post on UPI 'killing' toffee business

Drawing a link between candy makers losing revenue and the rise of UPI, GrowthX Founder Abhishek Patil said shopkeepers would "trade toffees for loose cash" earlier, but this stopped with UPI.

World can't afford India to follow China's manufacturing path: Raghuram Rajan

Former RBI Governor Raghuram Rajan in a recent speech batted for a services-led export model for India, instead of following China's manufacturing-led export model.

Tata Group planning to reduce its listed firms from 29 to around 15

Tata Group is reportedly planning to reduce the number of its listed companies from 29 to an estimated 15 in the coming months.

TCS mandates employees to work from office 3 days a week

Tata Consultancy Services has sent an email to its employees mandating them to work from the office three days a week.

Fake accounting: Mohandas Pai as OYO claims first EBITDA positive quarter Frontline bank staff should be well-versed in local languages: FM Adani Group launches ₹31,000 crore open offer for ACC and Ambuja Cements Tata Sons may have to write-off AirAsia India's losses Sebi approval necessary for Adani Group to secure RRPR stake: NDTV Bank Privatisation | Forget big bang, it’s unlikely there will be even a whimper Gold prices today: Yellow metal to remain under pressure amid strong dollar, high yields, hawkish Fed Govt to release data on June retail inflation today RBI hikes repo rate by 50 bps as inflationary pressures intensify Tata Appoints Campbell Wilson As Air India CEO Tata launches long-awaited super app Neu, joins ecommerce battle Tata Group invokes Shakespeare to tell how Vistara, Tanishq got their names RBI keeps repo rate unchanged at 4% for 10th time in a row Retail inflation projected at 4.5% in 2022-23: RBI Bosch India to invest over ₹1,000 cr in localisation of advanced auto tech short 40-yr-old Swiss college dropout's fintech startup shoots his wealth to $19.4 bn Omicron and holiday travel: How to strategise Indonesia bans coal exports in January on domestic power worries Indian rupee gains 12 paise to 74.88 against US dollar in early trade Year Ender 2021: Sensex beaten hands down by majority of the sectorial indices Oil climbs on weaker dollar, China, amid Omicron caution RBI tells board it favours a complete ban on cryptos Is cost of maintaining a strategic petroleum reserve justified? India needs 'self-belief' to draw from its past success: Rajan Cryptocurrency | What happens when RBI issues a digital currency? GDP likely to grow more than 9.5% in FY22: Report Crypto Bill Awaited, Virtual Currency Exchange 'Coinstore' Enters India Most existing cryptos will perish, Raghuram Rajan says Info Edge invests Rs 370 crore in six wholly-owned subsidiaries Go Colors IPO to open for bidding during November 17-22