Stocks rose on Wall Street as it deals with uncertainty caused by the ongoing trade war. The S&P 500, Dow Jones, and Nasdaq all showed gains. Investors are focusing on corporate news and awaiting updates on tariffs. Meanwhile, genetics testing company 23andMe took a significant hit, while The AZEK Co. surged on acquisition news.
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Telangana government signed an agreement with ITServe Alliance. The goal is to create 30,000 IT jobs in smaller towns. This will boost the state's IT sector. The government will provide infrastructure. ITServe Alliance will bring in its member companies. This partnership aims to develop local talent and reduce migration to Hyderabad.
The Reserve Bank of India has lifted the restrictions on Asirvad Micro Finance and DMI Finance, effective immediately, following their corrective measures and compliance with regulatory guidelines. The restrictions had been placed on 21 October last year, preventing them from sanctioning and disbursing loans.
Mahindra & Mahindra Ltd. reported a 16% rise in total automotive sales to 69,768 units in December. The company's utility vehicle segment saw an 18% growth, and commercial vehicle sales reached 19,502 units. Tractor sales, including exports, rose by 22%, with 22,943 units sold in December.
Alteria Capital, India's largest venture debt manager, secured an anchor investment from the International Finance Corporation (IFC) in its Shorter Duration Scheme. The fund will address short-term liquidity needs for licensed fintech companies, consumer brands, and EV OEMS, further supporting new economy companies in India.
Direct tax collections in India have surged nearly 20% to Rs 20.6 lakh crore for the fiscal year up to January 12, with non-corporate tax outpacing corporation tax. Refunds saw a 42% increase, leading to a 15.9% rise in net collections. Securities transaction tax collections also jumped 75%, as the Centre remains on track to meet its fiscal deficit target.
Reliance Consumer Products has acquired the Sil brand, specializing in packaged food items, from Food Service India. This move intensifies market competition with major players like Hindustan Unilever. Reliance plans to revitalize the 75-year-old brand while expanding its market presence, focusing only on the brand and not its manufacturing units or employees.
The Trump administration's policies are causing concerns among F-1 student visa holders, H-1B visa holders, and green card holders. Many are hesitant to travel outside the US due to potential re-entry issues.
Sebi plans to challenge a court order demanding a probe into alleged irregularities in listing a company on the BSE in 1994. The court directed police to file an FIR against several former and current officials, although they were not in their positions during that time. Sebi and BSE intend to take legal action to address the situation.
Unemployment claims in the US increased by 14,000 for the week ending 11 January, amidst a robust job market with low layoffs. December saw a rise in job growth, while job openings peaked in November, indicating strong hiring intentions despite some high-profile companies announcing job cuts.
Prime Minister Narendra Modi made his podcast debut with Nikhil Kamath, co-founder of Zerodha, discussing topics like Modi's life, politics and entrepreneurship, and global governance. So who is Nikhil Kamath and what is his net worth? We take a look: