business news

The Adani family has made a significant investment in Ambuja Cements, injecting ₹8,339 crore into the company and increasing their stake to 70.3%. This move marks a substantial commitment to the cement sector by one of India's leading business conglomerates.

China's economy, the world's second-largest, has defied expectations by growing at a robust pace of 5.3% in the first quarter of 2024. This growth comes amidst ongoing challenges such as a slowdown in demand and a property crisis in the country, showcasing the resilience of China's economic policies and the adaptability of its markets.

Tesla, led by tech mogul Elon Musk, is reportedly gearing up to lay off over 10% of its worldwide workforce, a move that could affect more than 14,000 employees. The decision, aimed at streamlining operations and reducing duplication of roles, comes amidst a period of rapid growth for the electric vehicle maker.

Nikhil Kamath, the co-founder of leading stockbroker Zerodha, has announced the launch of 'WTFund,' a non-dilutive grant agnostic fund aimed at nurturing young and promising entrepreneurs aged 25 and under. This initiative seeks to support individuals with innovative ideas and transformative visions, empowering them to revolutionize their respective industries.

Prime Minister Narendra Modi has reiterated India's stance on indigenous production, emphasizing the importance of local manufacturing in light of global investment interests, including those of Elon Musk's Tesla. In an interview with ANI, PM Modi underscored the need for investments to align with India's ethos and contribute to the nation's employment opportunities, particularly for its youth.

In a significant development, the founder of edtech giant Think and Learn, Byju Raveendran, is set to step into the role of handling the company's day-to-day operations following the resignation of CEO Arjun Mohan. This leadership transition marks a pivotal moment for Byju's as it embarks on a strategic overhaul aimed at consolidating its business into three key divisions.

The Society of Indian Automobile Manufacturers (SIAM) has reported that while the Indian auto industry showed overall growth in the financial year 2023-24, two-wheeler sales have yet to reach pre-COVID levels, indicating ongoing challenges in the sector.

BJP leader Sudhanshu Mittal recently expressed disappointment and frustration over his experience on an Air India flight from Delhi to Dubai. Mittal had booked business-class tickets for himself and his wife, expecting a comfortable journey. However, upon boarding the flight, he discovered what he described as the "most pathetic business class ever."

The District Consumer Disputes Redressal Commission has imposed a hefty fine of ₹28,027 on cab aggregator Uber for overcharging a passenger by ₹27 during a ride in Chandigarh. The complainant, Ritvik Garg, filed a complaint against Uber India Systems Pvt Ltd (UISPL) after being charged ₹80 instead of the ₹53 fare displayed at the time of booking.

Tata Consultancy Services (TCS), a prominent player in the information technology sector, recently announced a notable decrease in its headcount alongside a significant growth in net profit. According to reports, TCS witnessed a drop in its total employee base by over 13,000 during the previous fiscal year, marking the third consecutive quarter of decline, a trend unprecedented in the company's history spanning 19 years. As of now, TCS's employee count stands at 6,01,546.