business news

In a crucial development for the revival of the cash-strapped Jet Airways, the Supreme Court has issued a directive to the Jalan-Kalrock consortium, the new owners, to deposit ₹150 crore in the State Bank of India's escrow account by January 31. The court emphasized that failure to comply with this deadline would indicate a breach of the terms outlined in the resolution plan for the airline's revival.

IndiGo's CEO, Peter Elbers, has announced plans to conduct a thorough review of the airline's operations to prevent future disruptions, following the chaos passengers faced due to dense fog in northern India. Despite acknowledging challenges arising from the recent weather conditions, Elbers assured that flight operations are expected to return to normalcy by next week.

In a strategic move reflecting its commitment to a dynamic global approach, PepsiCo India has announced a significant leadership transition. Jagrut Kotecha, currently serving as the Chief Commercial Officer of PepsiCo Africa, Middle-East, and South Africa (AMESA), will take on the role of CEO for PepsiCo India. This change comes as part of the company's leadership reshuffling across AMESA, following Ahmed El Sheikh's shift to take on responsibilities for the Middle East branch after his successful seven-year tenure with the India team.

A growing number of U.S. states are suing Meta, alleging that the company's actions have harmed the mental health of young users. The lawsuit demands a court order to stop these practices and seeks civil fines for violations of state and federal laws. Meta, formerly known as Facebook, faces increased scrutiny over its impact on children's well-being.

Suzuki Motors has unveiled the next-generation Swift at the 2023 Japanese Mobility Show. While retaining its iconic design, the new Swift features updates like refreshed front-end styling and an upgraded cabin. The fourth-generation Swift is expected to make its debut in India in 2024.

In response to escalating heat in India, air conditioner ownership has surged, with the number of units per 100 households tripling since 2010, according to the International Energy Agency (IEA). The IEA revealed that the ownership rate currently stands at 24 units per 100 households, and this number is predicted to skyrocket ninefold by 2050. The rise in air conditioner usage has also had a significant impact on electricity consumption, with a 21% increase observed between 2019 and 2022. As a result, nearly 10% of India's electricity demand is now attributed to the cooling requirements of these devices.

India's economic growth continues to impress, with predictions by S&P Global Market Intelligence suggesting that it will become the world's third-largest economy by 2030, overtaking Japan. The country's robust growth is attributed to factors such as a burgeoning middle class, digital transformation, and increased foreign investment.

Paytm's CEO, Vijay Shekhar Sharma, introduces the 'VSS Investments Fund,' with a total fund size of Rs 30 crore, focusing on supporting Indian startups in Artificial Intelligence and Electric Vehicles, contributing to India's innovation and entrepreneurship drive.

Adani Total Gas Ltd. experiences an 85% stock valuation decline, confirming the earlier concerns raised by US short seller Hindenburg Research. Despite recent investments in other Adani companies, the city-gas distributor faces headwinds due to New Delhi's EV conversion policy.

In a surprising twist for apartment hunters in Bengaluru, a post about an individual who found a rental flat within a day is making waves on the internet. This "anti-peak Bengaluru moment" has garnered a flurry of reactions, showcasing a rare success story in the city's competitive real estate market.