The US transportation department fined JetBlue Airways $2 million for chronic delays on its east coast routes due to unrealistic scheduling. JetBlue blamed air traffic control issues and called for modernization. The fines partially compensate affected passengers. Routes from New York to Raleigh-Durham, Fort Lauderdale, Orlando, and from Windsor Locks to Fort Lauderdale were notably delayed.
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IndiGo will ramp up its fleet with three more Boeing 787-9 planes on a damp lease from Norse Atlantic Airways, targeting expansion to Europe by mid-summer 2025. The airline is also set to receive one Boeing 787 for operations and aims to bolster its international presence.
The net direct tax collection in India has grown by 15.88% to approximately Rs 16.90 lakh crore so far in the current fiscal year, with personal income tax accounting for over Rs 8.74 lakh crore and corporate tax at around Rs 7.68 lakh crore. Gross direct tax collection has reached over Rs 20.
Bitcoin soared to a new all-time high, fueled by President-elect Trump's pro-crypto stance and MicroStrategy's inclusion in the Nasdaq 100. MicroStrategy's recent $1.5 billion Bitcoin purchase and Trump's support for a national Bitcoin reserve boosted investor confidence. This positive sentiment drove Bitcoin's seven-week winning streak, its longest since 2021, and increased demand for crypto ETFs.
The Finance Ministry has informed the Parliament about the risks tied to households moving deposits to market-linked instruments, highlighting potential financial losses and liquidity issues for banks.
China’s economy achieved its annual growth target of 5% for 2024, helped by a late-year stimulus and boosted exports before US tariffs. Industrial production surged by 6.2% in December, though domestic demand remained weak with modest retail sales growth and rising unemployment. Further fiscal measures are expected to support the economy amid external challenges.
Biocon is set for major growth in the next 2-3 years, propelled by new generics and biosimilars. The Viatris acquisition strengthens its position in the U.S. market, with significant market share in some products already achieved. December quarter revenue increased by 14% in biosimilars and research services.
Boeing plans to increase its sourcing from India, which currently stands at Rs 10,000 crore annually from 320 suppliers. The company expects to deliver two aircraft per month to Indian airlines over the next two years and is investing heavily in pilot training, MROs, and engineering centers in Bangalore and Chennai.
Google has proposed minimal changes following a court ruling that it illegally monopolized online search. The tech giant suggests allowing competitors on platforms like Apple's iPhones and its own Android system, while still paying for prominent search placement. The government, however, wants more drastic measures, including the sale of Google's Chrome browser.
Gold prices remained steady at Rs 76,650 per 10 grams and silver at Rs 97,260 per kilogram on March 8. Gold April futures closed at Rs 85,820, and silver May futures ended at Rs 97,280. Analysts predict volatility due to upcoming US economic data. Gold trading is expected between Rs 84,000 and Rs 86,500.
Bengaluru's office rentals have surged by 26% in five years, reaching Rs 93 per square foot in 2024. Key cities like Hyderabad and Chennai also saw significant increases, driven by expanding IT infrastructure and skilled workforce, while Delhi-NCR recorded the slowest growth among the seven major property markets.