business news

At Intel's recent Vision event, the tech giant introduced its latest innovation in artificial intelligence (AI) processing, the Gaudi 3 chip. This unveiling marks Intel's strategic move to challenge Nvidia's stronghold in the semiconductor market, particularly in AI-powered applications.

Peyush Bansal, co-founder of India-based eyewear chain Lenskart, recently announced plans to establish a mega factory in Bengaluru. In a LinkedIn post, Bansal specified the need for 25 acres of land within 60 kilometers of Kempegowda Bengaluru International Airport for this venture. He invited companies with suitable factory land near the airport to contact Lenskart at megafactory@lenskart.in.

Elon Musk, the CEO of Tesla, has emphasized the significance of India's transition to electric vehicles (EVs) by stating that it's a "natural progression" for Tesla to provide electric cars in India, just like in other countries. This statement comes amid Tesla's strategic plans to establish a manufacturing presence in India and contribute to the country's burgeoning electric mobility landscape.

Surinder Chawla, the Chief Executive Officer and Managing Director of Paytm's banking unit, Paytm Payments Bank, has tendered his resignation citing "personal reasons." The company announced that Chawla's resignation would take effect from June 26. However, no details were provided regarding a potential successor to Chawla.

In a significant development, Taiwanese electronics giant Pegatron is reportedly in advanced discussions with The Tata Group to transfer control of its sole iPhone manufacturing plant in India to the Indian conglomerate. This move, backed by iPhone creator Apple, marks a strategic shift that could impact Apple's supply chain diversification efforts.

In an effort to alleviate its pilot shortage crisis, Vistara, a subsidiary of the Tata Group, has announced plans to source first officers from Air India. However, this move may not immediately resolve the ongoing challenges faced by the airline.

A passenger traveling on an Air India flight from Delhi to Bengaluru recently voiced dissatisfaction after discovering a broken window seat despite paying extra for it. The incident, which occurred on April 4, prompted the airline to address the issue with the help of an engineer.

Thirteen-year-old Nikita from Basti district, Uttar Pradesh, showcased remarkable presence of mind when she used Alexa to scare away monkeys that had entered her house, preventing harm to herself and her niece. This act of quick thinking caught the attention of Anand Mahindra, Chairman of the Mahindra group, who praised Nikita's ingenuity on social media and extended a job offer for her future endeavors.

Vistara, the joint venture between Tatas and Singapore Airlines, has announced a strategic reduction in flight operations by 25-30 flights per day. This move aims to relieve the mounting pressure on pilots and improve the airline's on-time performance amidst recent operational challenges.

The Reserve Bank of India (RBI) has taken strict regulatory action against IDFC First Bank and LIC Housing Finance, imposing penalties for non-compliance with certain norms. Additionally, the RBI has canceled the certificate of registration of four Non-Banking Financial Companies (NBFCs) and received voluntary surrenders from five other NBFCs.