Nissan faces a potential bankruptcy within the next year due to a 70% profit plunge and a $60 million loss. The company plans a $3 billion restructuring, including 9,000 job cuts and production reductions. A potential merger with Honda is being considered as a solution to navigate the challenging automotive market and bolster its struggling electric vehicle offerings.
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Mercedes-Benz launches one of India's most-expensive electric cars, the G-Class G580 EV priced at Rs 3 crore. All 85 allocated units are sold out. The company leads in luxury car sales and sees a growing demand in the top-end vehicle segment, with a focus on expanding its EV portfolio and sales network across India.
India's economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union Bank of India.
SBI Har Ghar Lakhpati RD: SBI has launched a recurring deposit scheme enabling customers to build a Rs 1 lakh corpus with monthly deposits. The scheme is available for resident individuals, including minors with guardians.
India's domestic aviation industry is set to incur a net loss of Rs 2,000 to Rs 3,000 crore in the coming fiscal years due to ongoing supply chain issues and engine problems. While passenger traffic saw growth, the pace is expected to slow in FY25. International passenger traffic is forecasted to increase by 15-20% in FY25.
Tata Group plans to create over 500,000 manufacturing jobs in the next five years through investments in factories and projects producing batteries, semiconductors, electric vehicles, and more. New plants are being constructed in various Indian states, boosting employment and highlighting significant opportunities in AI and the manufacturing sector.
IndusInd Bank faces a significant financial impact as it addresses discrepancies in its foreign exchange derivative portfolio, leading to overstated net interest income. The bank's credibility is questioned, prompting swift action to rectify financials and appoint a new successor to restore investor confidence.
Budget 2025 expectations: Gold traders, including jewellers and bullion sellers, hope Finance Minister Nirmala Sitharaman will enable middle-class purchases of gold via EMI and fund artisan upskilling in the Union Budget 2025.
Underlines shift to branded products
Moody's Ratings anticipates that ongoing US trade policy uncertainty, particularly tariffs, will negatively impact business and consumer confidence across Asia, including India, potentially slowing regional growth. While India may show some resilience due to its domestic market, significant investment shifts will take time. The tariff pause offers a window for trade negotiations, but broader de-globalization trends persist.
Byju Raveendran, CEO of Byju’s, asserts that new evidence submitted in court reveals EY India’s significant role in collusion involving GLAS Trust during the company's insolvency proceedings. Raveendran insists the evidence will expose this 'massive fraud,' with a hearing scheduled at the National Company Law Appellate Tribunal on Tuesday.