business news

Tata Electronics has embarked on a strategic collaboration with two Indian manufacturers in Pune and Bengaluru to pioneer the development of advanced, high-precision machines crucial for manufacturing iPhone casings, as reported by the Economic Times. This move aligns with Apple's broader strategy to diversify its manufacturing base and reduce reliance on China.

A recent incident in Bengaluru has highlighted the growing concerns around online food delivery services' accountability. A Bengaluru resident took food delivery aggregator Swiggy to court after the company failed to deliver an ice cream he had ordered, leading to a legal battle that ended with the customer being awarded compensation.

In a significant development in Delhi's real estate landscape, Deepinder Goyal, the co-founder and CEO of Zomato, has made headlines with a major land acquisition. Goyal acquired a sprawling 5-acre land parcel in Dera Mandi area for a whopping ₹79 crore, marking one of the largest land deals in the region for the fiscal year 2024.

The Reserve Bank of India (RBI) has issued a red alert against unauthorized Prepaid Payment Instruments (PPIs) issued by certain entities, cautioning the public to exercise vigilance when dealing with such platforms. The alert specifically mentions TalkCharge Technologies Pvt. Ltd., located in Gurgaon, Haryana, for issuing PPIs without the necessary authorization from RBI.

In a significant valuation update, Goldman Sachs has placed Blinkit, the quick commerce startup acquired by Zomato in 2022, at a higher value than Zomato's food delivery business. This valuation shift underscores Blinkit's impressive performance and potential within the market.

In a significant development for India's aviation industry, IndiGo, the country's largest carrier, has agreed to place a firm order for 30 A350-900 aircraft with Airbus. This decision marks a strategic shift for IndiGo, hinting at ambitious plans to expand its international footprint and compete in the long-haul market.

Life Insurance Corporation (LIC) has issued a cautionary alert to the public regarding fraudulent advertising practices observed on various social media platforms. The warning comes as LIC notes unauthorized use of senior officials' images, the brand logo, and the company's name by certain individuals and entities.

PayU Payments, a prominent player in the fintech sector, has achieved a significant milestone with the Reserve Bank of India (RBI) granting it approval to operate as a payment aggregator. This development marks a pivotal moment for PayU, coming after 15 months of discussions and initial challenges.

In a strategic move, Hindustan Unilever, known for its brands like Horlicks and Boost, has rebranded its 'health drinks' category, dropping Horlicks from it and renaming it as 'functional nutritional drinks' (FND). This decision comes in response to the Union Ministry of Commerce and Industry's directive to e-commerce platforms to remove drinks and beverages from the 'healthy drinks' category.

Ankiti Bose, the former CEO of fashion e-commerce giant Zilingo, has lodged a criminal complaint against co-founder Dhruv Kapoor and ex-COO Aadi Vaidya, accusing them of cheating, criminal intimidation, conspiracy, and harassment. The allegations shed light on internal conflicts within the company and raise concerns about corporate governance.