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IndusInd Bank CEO Sumant Kathpalia resigns amid derivatives accounting lapse

Published on Apr 29, 2025 10:41 PM IST

The RBI urged IndusInd Bank CEO Sumant Kathpalia and his deputy Arun Khurana to step down following accounting lapses that have hit the bank's net worth.

Sumant Kathpalia is the second top executive to resign in two days after his deputy Arun Khurana exited on Monday.(Reuters)
Reuters |

Mother Dairy hikes milk prices by up to 2 per litre, effective April 30

Mother Dairy hiked milk prices by up to ₹2 per litre, effective April 30, after launching 'Promilk', a protein-rich milk, last month.

Mother Dairy, a subsidiary of the National Dairy Development Board, sources milk from 10 lakh farmers across 12 states and sells through 4 lakh retail outlets across India. (Pic used for representation)(X/Mother Dairy)
Updated on Apr 30, 2025 12:54 AM IST

Reliance shares climb 2% after Q4 profit rises

The stock went up by 2.32 per cent to settle at ₹1,400.30 apiece on the BSE. During the day, it rallied 3 per cent to ₹1,410.90.

The company's market valuation surged by <span class='webrupee'>₹</span>1,35,662.05 crore to <span class='webrupee'>₹</span>18,94,938.18 crore in two days.(Reuters)
Updated on Apr 29, 2025 08:13 PM IST
PTI |

Infosys fires 195 more trainees for ‘failure’ to clear assessment test: Report

Infosys is offering upskilling programmes through tie-ups with UpGrad and NIIT; around 250 of those affected have reportedly opted for these courses.

According to the company, these upskilling courses are designed to prepare those affected trainees for “potential roles in the BPM industry” or to continue “honing their IT skills.”(REUTERS file)
Published on Apr 29, 2025 05:34 PM IST

Chaayos among 5 Delhi-based eateries booked by CCPA over service charges

The CCPA issued guidelines in 2022 to curb unfair trade practices and protect consumer interests regarding service charges in hotels and restaurants.

The guidelines stipulate that no hotels or restaurant shall add service charge automatically or by default in the food bill. (Unsplash/Representational image)
Published on Apr 29, 2025 03:13 PM IST
ANI |

US, EU and UK aim to establish supply chains in India through free trade pacts

FTA partners can leverage each other’s strengths to build sector-specific supply chains and become competitive in international markets

Stacks of containers seen inside a container terminal in Kolkata on February 13, 2025. (REUTERS FILE)
Published on Apr 29, 2025 02:39 PM IST
ByRajeev Jayaswal

Trump tariff impact: Adidas freezes 2025 outlook despite strong first quarter

Adidas said that under normal circumstances, it would have upgraded its full-year outlook.

In March, Adidas said it expects to generate an operating profit of €1.7 billion to €1.8 billion this year.(REUTERS)
Published on Apr 29, 2025 01:27 PM IST

Gold prices drop by 630 ahead of Akshaya Tritiya. Check latest rates today

Gold Rate today: Gold is considered as an attractive investment option and acts as a hedge against inflation.

Prices of 22-carat and 24-carat gold per 10 gram in Mumbai stands at <span class='webrupee'>₹</span>46,870, and <span class='webrupee'>₹</span>46,870 on Sunday, according to the Good Returns website.
Updated on Apr 29, 2025 01:18 PM IST

Akshaya Tritiya: Why do people buy gold on this day?

Akshaya Tritiya falls on the third tithi of Vaisakha regarded as a great time for investment and starting business

Buying gold on Akshaya Tritiya symbolises wealth and prosperity.(Representational image/Reuters)
Updated on Apr 29, 2025 12:35 PM IST

Are banks open or closed today, April 29? Check details

Banking services in Shimla will be unavailable, however banks across other cities and states will remain open as bank holidays differ from state to state.

Banks across Shimla to remain closed on April 29 on account of Parshuram Jayanti.(Bloomberg)
Updated on Apr 29, 2025 09:29 AM IST

Blinkit gig workers go on strike demanding better pay, cotton uniforms: report

Around 150 Blinkit gig workers went on a strike in Varanasi, Uttar Pradesh this weekend demanding fair pay, better working conditions and cotton uniforms

Blinkit gig workers went on a strike in Varanasi this weekend(X/@GIPSWU_)
Updated on Apr 29, 2025 09:35 AM IST

Trump and the iPhone Made in India

Does he see it as success against China, even if it isn’t made in the USA?

Since 2017, Apple has worked with partners to assemble iPhones in India.(AFP)
Published on Apr 29, 2025 08:36 AM IST
WSJ

The trouble with MAGA’s manufacturing dream

The average pay for a production worker in America is more than twice the level in China and nearly six times that in Vietnam.

The-trouble-with-MAGA-s-manufacturing-dream
Published on Apr 29, 2025 08:30 AM IST
The Economist

IndusInd Bank's deputy CEO resigns amid accounting blunder, share rout

Arun Khurana headed the global markets division of the bank, which included the derivatives portfolio.

IndusInd Bank Ltd said it found discrepancies in its derivatives portfolio and warned of a one-time hit to earnings.(Bloomberg)
Updated on Apr 28, 2025 10:01 PM IST
Reuters |

Urban Company files draft papers for $223 million IPO

Gurugram-based Urban Company turned profitable in the previous financial year

Urban Company, which provides mobile app-based beauty and home care services, will raise up to 4.29 billion rupees by selling new shares, while existing investors plan to offload stock worth 14.71 billion rupees.(HT File)
Published on Apr 28, 2025 08:57 PM IST
Reuters |

Spotify pays more than $100 million to audio, video creators in Q2 of FY'25

Spotify's payments include ad-based revenue and revenue generated through the Spotify Partner Program

'This figure reflects our deep commitment to the creator economy and underscores Spotify's position as a leading platform for audio and video creators alike,' the company said.(REUTERS)
Published on Apr 28, 2025 08:53 PM IST
AFP |

3 bank holidays this week for some cities: Details here

Banks will remain closed on different occasions across different states. Customers can access accounts via Net Banking or ATM services.

Banks holidays may differ in different states.(Representative image/Reuters)
Updated on Apr 29, 2025 09:28 PM IST

Sensex closes above 80,000 as Reliance, banks drive strong market recovery

The 30-share BSE Sensex jumped 1,005.84 points or 1.27 per cent to settle at 80,218.37 with 23 of its constituents ending with gains and seven in the red.

People watch the stock market updates on a screen outside the Bombay Stock Exchange (BSE) building, in Mumbai, Tuesday, April 8, 2025. (PTI)
Published on Apr 28, 2025 04:16 PM IST
PTI |

Apple App Store in India facilitated 44,447 crore in billings, sales in 2024

More than 94 per cent of that revenue accrued solely to developers and businesses, without any commission paid to Apple.

The study from Professor Pingali took a close look at the key drivers shaping the App Store ecosystem in India, including increased app usage in sectors like food delivery, travel, gaming, and entertainment.(AFP file)
Published on Apr 28, 2025 04:14 PM IST
PTI |

OnePlus 13s launch: Date, specifications and expected price

 OnePlus 13s though yet to launch in India, seems identical to the recently launched 13T. 

OnePlus officially announced launch of OnePlus 13s in India. (OnePlus)
Published on Apr 28, 2025 03:42 PM IST

YouTube names Gunjan Soni as managing director for India

Soni also possesses significant Indian media and marketing experience, having worked as EVP at Star India and CMO at Myntra

Soni has had successful stints at ZALORA, Star India and Myntra. She steps into her new role, following the exit of Ishan Chatterjee last year.(Gunjan Soni/LinkedIn)
Published on Apr 28, 2025 02:39 PM IST
PTI |

iPhone production shift: Money no bar, but Apple and India battle time and geography

India’s manufacturing share, depending on estimates, ranged between 10% to 20% at the end of 2024. Apple’s global iPhone shipments for the year were 232.1 million.

Apple iPhone 16 models on display during the launch of the series on September 20, 2024. (AFP Photo)
Updated on Apr 28, 2025 01:40 PM IST

Stock market opens in green amid India-Pakistan border tensions

The situation at the India-Pakistan border remains the key concern for the market participants.

A man walks past the Bombay Stock Exchange (BSE) building, in Mumbai.(PTI)
Updated on Apr 28, 2025 10:00 AM IST

We’re committed to investing in the success of Indian developers: Tim Cook

In just the past year, the App Store platform clocked ₹44,447 crores in billings and sales for Indian developers, and 755 million app downloads came from users outside of India

The company also suggests that global earnings of India-based developers have tripled. (File photo)
Published on Apr 28, 2025 08:58 AM IST

Layoffs in Las Vegas: MGM Resorts cuts concierge staff, Americans fear downturn

MGM Resorts will close concierge services at multiple Las Vegas hotels, impacting 34 employees, amid concerns of reduced tourism and rising prices. 

Las Vegas is known for its vibrant nightlife, world-famous casinos, and luxury hotels
Published on Apr 28, 2025 08:52 AM IST

America Inc. Slashes Spending as Tariff Uncertainty Swirls

CEOs are pausing travel, delaying construction projects and slowing hiring in response to tariffs and cloudy economic forecasts: “Control the controllables.”

America Inc. Slashes Spending as Tariff Uncertainty Swirls
Published on Apr 28, 2025 07:19 AM IST
WSJ

Madhya Pradesh CM announces hike in dearness allowance from 50% to 55%

The arrears amount will be paid to the government servants in five equal instalments from June 2025 to October 2025.

Madhya Pradesh chief minister Mohan Yadav(Dr Mohan Yadav - X)
Published on Apr 27, 2025 09:53 PM IST
ANI |

Flying taxis, screens, massage seats: Shangai auto show displays futuristic cars

Visitors at the Auto Shanghai exhibition queued to sit in luxurious minivans with chrome radiator grilles and reclining rear seats.

Chinese car manufacturers and innovators flaunted their best futuristic commercial ventures (AFP)
Published on Apr 27, 2025 03:10 PM IST
AFP |

Swiggi Instamart to create dedicated 'cooperative' category on its platform

After the MoU, the products under Bharat Organics and other cooperative dairy products will now be available on e-commerce and q-commerce platforms of Swiggy.

A gig worker waits to pick an order outside a Swiggy's grocery warehouse at a market area in New Delhi, India, May 6, 2024. (REUTERS)
Published on Apr 26, 2025 09:57 PM IST
ANI |

Apple to shift all US iPhone assembly to India by 2026 amid trade war with China

Apple's decision to ramp up its production in India aligns with its broader goal of diversifying manufacturing operations away from China.

Apple is looking to move most of its manufacturing and production out of China, with India being one of the countries where they are increasing activities.(Getty Images via AFP)
Published on Apr 26, 2025 03:45 PM IST
ANI |
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