The wealth gap between Musk, 52, and Bezos, which at one point was as wide as $142 billion, has been shrinking as Amazon and Tesla shares move in opposite directions. While both are among the so-called Magnificent Seven stocks that have propelled US equity markets, Amazon shares have more than doubled since late 2022 and are within...
Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations. Brent LCOc1 futures was 28 cents, or 0.3% higher, at $83.83 a barrel at 0134 GMT, while the U.S. West Texas Intermediate (WTI) CLc1...
The outcome of the 13th ministerial conference of the WTO was “good” and India is “completely satisfied” as the country continues to retain its full policy space to protect the interests of farmers and fishermen in every respect, Commerce and Industry Minister Piyush Goyal has said. He said that New Delhi’s procurement of food grains...
India’s manufacturing activity continued to expand in February with the HSBC Purchasing Managers’ Index (PMI) for the sector coming in at 56.9, data released on March 1 showed. At 56.9, the February manufacturing PMI is above the flash estimate of 56.7 released on February 22 and is the highest in five months. It is also above the...
The Mukesh Ambani-led RIL has committed to investing Rs 11,500 crore ($1.4 billion) in the JV, which is valued at Rs 70,352 crore ($8.5 billion) post-money, excluding synergies. RIL, Viacom18, and Disney will own 16.34%, 46.82%, and 36.84% of the JV, respectively. RIL will control the JV as it also owns a majority stake in...
Coming down heavily on the Central government and Patanjali Ayurved, the Supreme Court on Tuesday issued notices to Baba Ramdev and Acharya Balakrishnan and asked why contempt proceedings should not be initiated against them for violating its orders. The SC said that the government was sitting with its eyes closed and asked it to take...
Finance Minister Nirmala Sitharaman on Tuesday exhorted Indian Inc to align itself with the goal of ‘Viksit Bharat’ by 2047, when India will complete 100 years of independence. Addressing a session on ‘Viksit Bharat @ 2047: Viksit Bharat & industry’, organised by Ficci, the minister also assured the industry that reforms will continue in the...
One97 Communications, which is the parent company of fintech company Paytm, announced on Monday that founder Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank. “The Company has been separately informed that Vijay Shekhar Sharma has also resigned from the Board of Paytm Payments Bank to enable this transition. PPBL has informed us...
In a mega deal in the entertainment segment, Reliance Industries Limited (RIL) and Walt Disney Co have signed a binding agreement to merge their media operations in India, according to a Bloomberg report. As per the agreement, the media unit of Reliance and its affiliates are expected to own at least 61 per cent in...
Equity benchmark indices rebounded on Thursday, with Nifty hitting its fresh all-time high and Sensex surging more than 500 points as investors went on a buying spree in IT, automobile and technology stocks. After starting off on a volatile note, the equity market staged a recovery in the second half of the day, especially after...