Encyclopaedia Britannica, once a weighty symbol of knowledge, has successfully transitioned to the digital age. By embracing AI and expanding into educational software and online dictionaries, the company has achieved impressive profit margins and is now considering a $1 billion IPO.
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China's trade surplus hit a record $992 billion in 2024, driven by a 21% rise in exports worth $3.6 trillion, despite weak domestic demand and imports. The surge is linked to strong overseas demand and anticipated tariffs under Donald Trump's upcoming presidency, leading to a rush in shipments to the US, reaching $525 billion.
The Mahindra group launches SOAR, a unique returnship program aimed at reintegrating women who took career breaks into mainstream roles. The initiative seeks to address gender disparity by offering permanent roles, mentorship, and training. The move follows industry trends to enhance female labor participation rate and reduce the gender gap.
The Union Budget 2025 is poised to announce a 20% increase in capital expenditure to stimulate economic growth and reduce the fiscal deficit to 4.4% of GDP for FY26. EY anticipates measures to boost domestic demand and personal disposable incomes, ensuring India's adherence to its long-term growth objectives.
Scientists used the James Webb Space Telescope to study planet formation. They observed the star cluster NGC 346. They found long-lasting planet-forming disks. These disks exist even with few heavy elements. This challenges old theories. Planets may have formed earlier than we thought. This discovery changes our understanding of the early universe.
US TikTok users are seeing videos from Chinese creators promoting direct factory purchases to avoid Trump's tariffs. These videos, some filmed at factories allegedly producing for brands like Lululemon and Nike, highlight lower prices. Experts suggest this trend undermines tariff policies and promotes Chinese manufacturing, raising questions about tariff effectiveness and TikTok's content distribution influence.
Srinivas Phatak will assume the role of Unilever's acting CFO on March 1. Current CFO Fernando Fernandez will be elevated to CEO position. Phatak, a seasoned Unilever executive, has extensive experience spanning finance and supply chain roles. Unilever will conduct a search for a permanent CFO. Unilever praised Phatak's leadership and experience to aid in executing its strategy.
India has raised concerns regarding issues faced by its milk exporters in Nepal. In response, Nepal has agreed to consider facilitating the import of specific milk products like whey and cheese that are not adequately produced in Nepal. The two nations also discussed amendments to trade agreements, development of trade infrastructure, and various other trade-related issues.
NCLT has ordered the liquidation of GoAir after lenders' request as the airline, grounded since May 2023, failed to revive under insolvency laws. GoAir owes over Rs 6,521 crore to creditors like Central Bank of India and Deutsche Bank. Starting operations in 2005, it joins the list of defunct Indian airlines including Air Deccan and Kingfisher.
IL&FS Group has declared a Rs 5,000 crore payout to its creditors as part of its debt resolution efforts. The distribution includes Rs 3,500 crore in InvIT units linked to six road assets and Rs 1,500 crore in cash, primarily benefiting large creditors and public funds. This payout aims to significantly reduce the group's outstanding debt.
Yes Bank has shown a significant rise in net profit to Rs. 612 crore for the quarter ending December 31, 2024, up from Rs. 231 crore in the previous year. The bank’s net interest income and non-interest income have seen considerable growth, while asset quality has improved, and provisions have reduced substantially.