The US economy grew by 2.4% in the last quarter of 2024, mainly due to strong consumer spending. However, business investment and inventories saw a decline. Inflationary pressures increased, and the outlook for 2025 is uncertain due to tariffs and trade policies under President Donald Trump. Consumer confidence has dropped, potentially impacting future growth.
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Sebi warned Ola Electric after founder Bhavish Aggarwal posted on social media about expansion plans before notifying stock exchanges. Aggarwal announced the target to expand retail stores from 800 to 4,000 by December 20, breaching regulations on timely disclosure of price-sensitive information.
Tata stakeholders are considering appointing a retired Supreme Court chief justice as arbitrator to determine trustee appointments for the Ratan Tata Endowment Foundation.
Stocks in India are expected to stabilize after a significant drop, with Nifty futures showing a slight increase. Despite record equity investments in real estate, analysts warn of potential future earnings issues for developers. Kotak Securities highlights the risk of overvalued 'narrative stocks,' while further losses for the rupee are anticipated due to a less active RBI.
Accel raised $650 million for its eighth India-focused fund, reflecting confidence in the country's startup ecosystem amid global economic uncertainties. This funding will support both new ventures and existing portfolio companies, with notable investments like Swiggy, BlackBuck, and Bluestone preparing for public offerings.
Finance minister Nirmala Sitharaman announced duty exemptions on capital goods used in manufacturing lithium-ion batteries to boost domestic production essential for electric vehicles and mobile phones. The move aims to reduce costs, accelerate India's EV transition, enhance manufacturing capacities, and create high-value jobs in the sector.
Flipkart cofounder Binny Bansal has donated Rs 70 crore to establish the Binny Bansal Institute for Inventing the Future (IIF) at Plaksha University. The institute aims to tackle global challenges through AI, blockchain, and robotics. Plaksha University, supported by various donors, focuses on cross-disciplinary learning and partnerships to drive tech education and convert research into real-world applications.
New India Assurance boasts the lowest claim rejection rate at 0.2%, outperforming all other insurers in India, according to a recent report. The public sector giant also leads in minimal rejections for health and motor own-damage claims.
India views the USA's announcement of 26% reciprocal tariffs as a 'mixed bag' rather than a 'setback.' The imposition includes a universal 10% tariff on all imports starting April 5, with an additional 16% from April 10. Discussions on a bilateral trade agreement between the two nations continue, aiming for completion by fall.
Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.
LTIMindtree's CEO designate, Venu Lambu, met with over 50 senior leaders in Mumbai, amid the departure of two senior executives. Lambu emphasized a focus on growth and AI strategy. Current CEO, Debashis Chatterjee, is assisting with the transition and plans joint client visits with Lambu in the US and Europe.