India Faces Mini LPG Shortage Due to Global Tensions
As US-Israel-Iran tensions affect West Asia, demand for mini LPG cylinders like Appu, Mini, and Chhotu surges, causing acute shortages in India, particularly in Maharashtra.
Category : Corporate News
Freudenberg Posts Strong Financial Figures, Emphasizes Stability
Freudenberg Group has announced impressive key financial results, showcasing resilience and a positive outlook for future viability in the global market.
India Caps Jet Fuel Price Hike at 25% for Domestic Airlines
The Indian government has intervened to limit aviation turbine fuel price increases to 25% for domestic carriers, citing Middle East tensions and Strait of Hormuz closure. This move prevents a potential 100% surge in fuel costs.
Jet Fuel Prices Double, But Domestic Airlines Unaffected
Jet fuel prices have surged by more than 100% globally, yet domestic airlines in India remain insulated due to government policies and strategic measures. Here's an in-depth look at the factors protecting the aviation sector.
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Oracle Lays Off 30,000 Employees, Shares Plunge 27%
Oracle announces massive layoffs affecting up to 30,000 employees globally, causing shares to tumble 27% amid AI competition and restructuring. The tech giant's job cuts follow similar moves by Meta and Amazon.
Jet Fuel Prices: Big Hike for Charters, Relief for Airlines
Jet fuel prices in India rose 8.5% for scheduled airlines in April, sparing major airfare hikes. However, non-scheduled charters face over 100% increases, with ATF crossing Rs 2 lakh per kilolitre in key cities.
Emami Buys 73.5% Stake in Axiom Ayurveda for Rs 200 Crore
FMCG giant Emami has purchased a 73.5% stake in Axiom Ayurveda for Rs 200 crore, making it a wholly owned subsidiary. The acquisition boosts Emami's presence in the ayurvedic and beverage segments.
Buffett Defends Gates Foundation Donations, Comments on Epstein
Warren Buffett says he doesn't regret donating billions to the Gates Foundation despite recent controversies, while also discussing Apple stock sales and market conditions in a CNBC interview.
Airfares to Rise as Jet Fuel Prices Double Post Iran War
Aviation turbine fuel prices have surged over 100% in April due to the Iran conflict, pushing domestic ATF above Rs 2 lakh per kilo litre for the first time. Airlines warn of fare hikes and potential flight cuts as costs skyrocket.
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West Asia War Slows IPO Pace, Delays Investor Exits in India
The prolonged West Asia conflict is slowing India's IPO market, delaying exits for VC and PE investors as companies rethink listing plans amid volatile conditions.
Oracle Layoffs Hit India Staff in AI Restructuring
Oracle has begun notifying thousands of employees in India about job cuts as the company restructures to focus on AI data centre expansion. Reports suggest up to 12,000 roles may be affected.
IndiGo Names William Walsh as New CEO for Global Growth
IndiGo appoints IATA Director General and former British Airways chief William Walsh as CEO, effective August. Walsh brings decades of aviation leadership to drive international expansion and operational excellence.
Sathya Agencies Files Rs 600 Crore IPO DRHP with SEBI
Chennai-based Sathya Agencies Limited has submitted a draft red herring prospectus to SEBI for an initial public offering aiming to raise up to Rs 600 crore. The company operates 427 retail stores across South India.
Cognizant Loses $8.4M Bias Lawsuit Over Hiring Practices
A former Cognizant employee won $8.4 million in a lawsuit alleging the company favored cheap Indian labor and discriminated against non-Indian workers, with Florida Governor Ron DeSantis commenting on the verdict.
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LPG Shortage in Mangaluru: SDTU Warns of Auto Driver Crisis
The Social Democratic Trade Union highlights severe LPG shortages at fuel stations across Mangaluru district, causing hardship for autorickshaw drivers and workers due to price hikes and supply issues.
Carborundum Universal to Wind Up German Subsidiary
Murugappa Group's Carborundum Universal Ltd announces voluntary winding up of its German subsidiary CUMI AWUKO Abrasives GmbH due to continued underperformance and mounting losses, with estimated financial impact of ₹110-130 crore.
Jamshedpur LPG Agency Investigated Over 'Ghost Deliveries'
Jamshedpur residents report 'ghost deliveries' from an LPG agency, with SMS confirmations sent but no cylinders received. Officials investigate digital manipulation and backlog issues.
Oracle Layoffs: Up to 30,000 Employees Face Job Cuts
Oracle Corporation has commenced a significant restructuring effort, with reports indicating that approximately 30,000 employees are likely to be laid off globally as part of cost-cutting measures.
IndiGo Names Willie Walsh as New CEO from August
IndiGo has appointed former British Airways CEO Willie Walsh as its new Chief Executive Officer, effective August 2024. Walsh, currently Director General of IATA, brings extensive aviation leadership experience to help the airline expand globally and stre
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Govt Raises Regulated Gas Price for ONGC, Oil India to $7/MMBTU
The Indian government has raised the regulated gas price for ONGC and Oil India to $7 per MMBTU, effective from October 1, 2024, to boost domestic production and reduce import dependency.
Mumbai Auto Drivers Urge MGL to Fix Low CNG Pressure Issue
Autorickshaw drivers in Mumbai's western suburbs face incomplete refuelling and long queues due to low CNG pressure. The union proposes temporary pump halts to boost pressure and ensure full tanks.
Vedanta Fights Supreme Court on Jaypee Bid, Says Offer Better Than Adani's
Vedanta Ltd has petitioned the Supreme Court, alleging its higher bid for bankrupt Jaiprakash Associates was unfairly rejected in favor of Adani Group's offer, citing arbitrariness by lenders.
Sushant Phadnis on India's Financial Complexity for Global Business
Sushant Phadnis discusses strategies for global businesses to navigate India's intricate financial landscape, including regulatory hurdles and market opportunities.
IndiGo Names William Walsh as New CEO with Global Aviation Experience
IndiGo has appointed William Walsh as its new CEO, leveraging his extensive global aviation background to lead the airline's growth and operational strategies.
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Oracle Global Layoffs: Sudden Terminations Hit US, India
Oracle has initiated widespread layoffs across global offices, with employees in the US, India, and other regions receiving abrupt termination emails. The cuts affect teams like RHS and SVOS, with severance tied to signing paperwork and unvested RSUs lost
Amway India's New Era: Resilient, Growth-Focused Strategy
Amway India, after two years of foundational strengthening, enters a new phase focused on stability, compliance, and impact. Managing Director Rajneesh Chopra discusses aligning with India's development goals, enhancing direct selling ethics, and driving
IndiGo Appoints William Walsh as New CEO
IndiGo has appointed William Walsh as its new CEO, effective from October 1, 2024. He succeeds Pieter Elbers, who will step down after two years. Walsh brings extensive aviation experience from Aer Lingus and other roles.
IndiGo Names William Walsh as New CEO After Elbers Exit
IndiGo has appointed former British Airways CEO William Walsh as its new chief executive, following the resignation of Pieter Elbers amid operational challenges faced by the airline in December.
IndiGo Names William Walsh CEO After Elbers Exit
IndiGo has appointed William Walsh as its new CEO, replacing Pieter Elbers who stepped down amid a flight cancellation crisis. The move aims to restore stability and passenger confidence.
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Core4 Engineers Files DRHP with BSE SME for IPO
Core4 Engineers Limited has submitted its Draft Red Herring Prospectus to BSE SME, marking a significant step towards its initial public offering. The company specializes in engineering services.
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