business news

German sportswear giant Puma has announced plans to cut 500 jobs globally and shut down unprofitable stores, citing weak consumer demand in the United States. The decision follows disappointing quarterly and annual forecasts, which led to a sharp 23% decline in Puma’s stock, according to a report by Reuters.

Scopely Inc., a gaming company backed by Saudi Arabia’s sovereign wealth fund, has acquired the gaming business of Niantic Inc. for $3.5 billion. The deal includes Niantic’s flagship mobile game, Pokémon Go, along with Pikmin Bloom and Monster Hunter, as well as companion apps and services like Campfire and Wayfarer.

Luxury electric vehicles (EVs) in Maharashtra will soon become more expensive after the state government announced a 6% motor vehicle tax on premium EVs priced above ₹30 lakh. This move, part of the state budget proposals for the financial year 2025-26, has raised concerns over potential sales declines in the segment.

The National Highways Logistics Management Limited (NHLML) and the Inland Waterways Authority of India (IWAI) signed a Memorandum of Understanding (MoU) on Tuesday to develop a Multi-Modal Logistics Park (MMLP) in Varanasi, Uttar Pradesh. The initiative is part of the government’s broader plan to enhance logistics efficiency and connectivity in the region.

Indian billionaire Shiv Nadar has gifted 47% of his shareholdings in HCL Corporation and Vama Delhi to his daughter, Roshni Nadar Malhotra, in a move aimed at ensuring smooth succession within the family business.

A Delhi-bound Air India flight was forced to return to Chicago after spending nearly 10 hours in the air, as 11 out of 12 lavatories on board became clogged and unusable.

The National Bureau of Statistics reported on Sunday that the consumer price index (CPI) declined by 0.7% in February compared to a year earlier. This marks a sharp contrast to the 0.5% gain recorded in the previous month and surpasses Bloomberg economists' median forecast of a 0.4% drop.

PURI: A priest of the renowned Jagannath Temple in Puri has announced plans to develop a 300-room luxury resort designed to provide a "satvik" experience to pilgrims and travelers. The resort, named Jagannatham, aims to blend spiritual serenity with modern comforts while maintaining a strict vegetarian and non-liquor policy.

The Karnataka government has officially implemented a statewide cap on movie ticket prices, ensuring that no film screening charges more than ₹200 per ticket. This regulation, which applies to all films and theaters, including multiplexes, is intended to make cinema more accessible and affordable for audiences

The Supreme Court has agreed to review the Maharashtra government's decision to award the Dharavi Redevelopment Project (DRP) to Adani Properties Ltd, directing that all financial transactions related to the project be routed through an escrow account. The court made the award of the contract subject to its final ruling while admitting a petition by SecLink Technologies Corporation (STC), which challenged the Maharashtra government’s tendering process.