business news

Delhi, Mumbai: The cost of onions has soared across major cities like Delhi and Mumbai, hitting a five-year high in November with prices reaching ₹70 to ₹80 per kilogram in wholesale markets, as per reports by ANI. The sudden price hike is causing distress among consumers and affecting household budgets across the country.

Vistara, the airline celebrated for its premium service, marked its final journey in the Indian skies as it prepares for a complete merger with Air India on Monday. The merger, announced in 2022, is a strategic alliance between Tata Sons and Singapore Airlines to create a robust full-service carrier capable of dominating both domestic and international markets. The Vistara brand, a joint venture with a 51:49 ownership between Tata Sons and Singapore Airlines, will cease independent operations as it integrates fully into Air India.

In a bid to boost employee morale following a significant reduction in workforce, Intel has decided to reinstate free coffee and tea for its staff. The tech giant had previously halted several employee perks, including free beverages and fruits, as part of broader cost-cutting measures.

A Texas woman has made a monumental contribution to infant health by setting a new Guinness World Record for the largest individual breast milk donation. Alyssa Ogletree, 36, has donated a staggering 2,645.58 litres of breast milk, surpassing her own previous record of 1,569.79 litres set in 2014

In a clever marketing move, a coconut vendor in Bengaluru has gained attention with a viral advertisement highlighting the price difference between local coconut prices and those on quick commerce apps like Zepto, Blinkit, and BigBasket. The vendor's poster claims that while these apps charge customers between ₹70 and ₹80 for a single coconut, shoppers can buy it at the local shop for just ₹55.

Elon Musk, the CEO of Tesla and SpaceX, has reached a net worth milestone of over $300 billion for the first time in nearly three years, following Donald Trump's win in the U.S. presidential election. The billionaire’s wealth surged after Tesla shares soared by 28%, adding approximately $50 billion to Musk's net worth, now valued at $313.7 billion according to Bloomberg's Billionaires Index. The market's optimism stems from Musk's close relationship with President-elect Trump, which investors anticipate could benefit Musk’s companies, particularly Tesla and SpaceX.

Truecaller, the global caller ID and spam blocking software company, has appointed Rishit Jhunjhunwala as its new CEO. Jhunjhunwala, who has been with the company since 2015, will assume his new role on January 9, 2025, succeeding current CEO Alan Mamedi, who will step down from operational duties.

The Competition Commission of India (CCI) has reportedly found food delivery giants Swiggy and Zomato in breach of the country's competition and antitrust laws. According to non-public documents obtained by Reuters, the CCI alleges that both companies have engaged in practices that favor certain restaurants on their platforms, undermining fair competition.

US Federal Reserve Chair Jerome Powell made it clear on Thursday that he would not resign from his position early if asked to do so by President-elect Donald Trump. Speaking at a press conference following the announcement of a quarter-point interest rate cut, Powell emphasized that the structure of the Federal Reserve and its laws protect the independence of the institution, including provisions that prevent the firing of any of the seven governors.

Sharan Hegde, the CEO of the financial literacy company 1% Club, has come under scrutiny following the announcement of a 15% workforce reduction. The layoffs have sparked debate, particularly given Hegde’s status as a prominent financial influencer, known for his career built around financial education and promoting sound money management.