Shutterstock and Getty Images announced their merger plans to create a $3.7 billion visual content leader. Craig Peters will lead the combined company, offering diverse media portfolios. Under the agreement, Getty shareholders will own 54.7% of the merged entity, Shutterstock 45.3%, and Shutterstock shares soared nearly 30% following the announcement.
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Fugitive diamond merchant Mehul Choksi, wanted in India for allegedly defrauding Punjab National Bank (PNB) of nearly Rs 14,000 crore, has been arrested in Belgium. His legal team is contesting extradition, citing the case's political nature and Choksi's poor health, including cancer treatment and PTSD from a prior alleged kidnapping.
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.
RBI has injected over Rs 5 lakh crore into the banking system since mid-Jan to ensure surplus liquidity and support its rate cut's transmission to borrowers. Despite this, corporate borrowing costs remain unchanged due to firm MCLR rates and year-end demand for funds.
New Income Tax Bill 2025: The language used in the Bill at many places is extremely lucid and is reader friendly as it has tables and formulas as against the traditional verbose style.
The Gauhati High Court has ruled that fruit pulp and juice-based carbonated drinks fall under the lower 12% GST slab instead of the higher 28%. This ruling benefits manufacturers like X’SS Beverage by classifying these drinks based on their essential fruit juice content rather than their carbonation.
Infosys McCamish Systems, impacted by a 2023 cybersecurity incident, will pay $17.5 million to resolve class-action lawsuits. The settlement follows mediation with plaintiffs and covers allegations against IMS and some customers. Approval will close lawsuits without liability admission.
RBI's recent bulletin emphasizes the importance of foreign exchange interventions for emerging markets like India. These actions help stabilize capital flow volatility, with RBI moderating currency swings through both purchases and sales. This strategy aims to manage volatility and prevent financial risks, as highlighted by Michael Patra and co-authors.
India's current account deficit is expected to remain at approximately 1 per cent of GDP for fiscal 2025, up from 0.7 per cent last year, according to CRISIL. Strong financial inflows and a steady services trade surplus are contributing factors, despite a rising merchandise trade deficit and pressures from geopolitical risks.
In 2024, the internet and e-commerce sector led in pay across all levels, with top executives earning an average of Rs 37 lakh. Professional services, business consulting, and media closely followed. Healthcare topped senior and middle-level pay due to digital integration and job growth. Bengaluru emerged as the top talent hotspot, while Mumbai excelled in senior-level salaries. Tier-2 cities Bhopal, Mysore, and Kanpur showed impressive growth in junior-level roles.
Indian IT firms generated $20 billion in free cash flows last year with over 75% returned to shareholders. Experts highlight the need for a reset as AI disrupts traditional business models. They suggest reinvesting in innovation and strategic investments to leverage future opportunities rather than focusing only on short-term shareholder returns.