business news

An incident involving an Apple iPhone order on Flipkart has led to the e-commerce platform being directed to pay ₹10,000 to a customer from Mumbai's Dadar. The consumer had ordered the iPhone on July 10, 2022, and paid ₹39,628 via credit card. However, the order was cancelled by Flipkart, prompting the customer to file a complaint.

Customers of Paytm Payments Bank Ltd (PPBL) are facing a significant change today as the deadline set by the Reserve Bank of India (RBI) arrives. Following serious rule violations, the RBI imposed restrictions on PPBL, leading to the discontinuation of several key services. Paytm, a prominent player in India's fintech sector, is advising its digital payment users to seek alternative banking solutions due to these developments.

L&T Technology Services (LTTS), the engineering services arm of infrastructure giant L&T, has landed a significant ₹800 crore project from the Maharashtra government to establish a digital threat analytics center. This initiative aims to enhance public safety against cyber threats by providing advanced cyber security solutions.

The Indian government has implemented a new policy aimed at boosting the electric vehicle (EV) industry by significantly reducing import taxes, particularly benefiting global manufacturers like Tesla. This move is part of a broader strategy to attract investments and promote the adoption of EVs in the country.

In a significant development for the automotive industry, Tata Motors, India's largest automobile company, has inked a Memorandum of Understanding (MoU) with the government of Tamil Nadu to explore the establishment of a state-of-the-art vehicle manufacturing facility in the region.

In a significant development, the Union government has given the green light to transfer ownership of the iconic Air India building in Mumbai to the Maharashtra state government. This transfer, valued at Rs. 1,601 crore, also includes the waiver of outstanding dues amounting to approximately Rs. 300 crore, paving the way for a landmark transaction.

SpiceJet, one of India's leading airlines, has taken decisive steps to bolster its operational capacity with the finalization of a lease agreement for 10 additional aircraft. This move, announced by the airline on Thursday, aims to cater to the escalating demand for air travel, especially during peak seasons, ensuring seamless connectivity and enhanced services for passengers.

In a move that has sent ripples through the tech industry, International Business Machines Corp (IBM) has reportedly initiated layoffs within its marketing and communications division. The decision, disclosed in a brief seven-minute meeting by Jonathan Adashek, IBM's Chief Communications Officer, has left many employees grappling with uncertainty.

In a groundbreaking move that is set to reshape the landscape of software engineering, US-based startup Cognition has unveiled Devin, the world's inaugural AI software engineer. With the ability to construct fully functional websites and videos from mere prompts, Devin marks a significant leap forward in artificial intelligence-driven programming.

Former US President Donald Trump reportedly approached SpaceX and Tesla CEO Elon Musk last summer about purchasing his social media platform, Truth Social, according to a report from the Washington Post. Despite discussions between the two influential figures, the proposal did not result in a deal.