Tesla has approved a new stock award for CEO Elon Musk worth an estimated $29 billion, offering him 96 million shares as part of a fresh compensation deal aimed at keeping him at the company’s helm. The move comes just months after a Delaware court voided Musk’s earlier 2018 pay package, which had been valued […]
Essar’s GreenLine in Rs 400 crore deal to decarbonise Hindustan Zinc Limited logistics
NEW DELHI: Hindustan Zinc Ltd has entered into a Rs 400-crore deal with Essar group’s GreenLine Mobility Solutions for decarbonising its logistics network by deploying the latter’s advanced electric (EV) and trucks powered by liquefied natural gas (LNG).The deal envisages GreenLine deploying 100 electric trucks to replace diesel vehicles for inter-unit concentrate movement between the […]
New residential complex for MPs in Delhi ready! Large flats with 5 bedrooms, offices to have more space than Type-VIII Lutyens’ bungalows
Prime Minister Narendra Modi will inaugurate a new residential complex in August on Baba Kharak Singh Marg, featuring 184 large and spacious flats for Members of Parliament, partially addressing the requirement for accommodation in Lutyens’ Delhi, according to a TOI report by Dipak Dash. Over the past few years, the government has constructed supplementary housing […]
Boeing defence workers strike for first time in nearly 30 years: 32k machinists reject revised wage, retirement offer; last walkout was in 1996, lasted 99 days
In an unprecedented move, Boeing Co.’s defence workers in St. Louis have initiated their first strike in nearly 30 years after rejecting the company’s revised contract proposal.Approximately 3,200 machinists ceased work at midnight following their rejection of an offer featuring a 20% wage increase and enhanced retirement benefits. The last strike action occurred in 1996, […]
IPOs fuel FPI surge: Foreign inflows hit 7-month high in primary market with $1.7 billion in July; secondary market sees sharp outflows
In a significant development for the Indian financial markets, the net inflow of foreign portfolio investors (FPI) into the Indian primary market has reached a seven-month high of $1.7 billion (Rs 14,247 crore). This surge comes amid a buoyant period for initial public offerings (IPOs). The last time FPIs invested such a substantial amount was […]
IPO-bound Arcil eyes retail loans as corp NPAs dry up
Mumbai: The country’s oldest bad loan company, IPO-bound Arcil (Asset Reconstruction Company of India) , gives an insight into the future of loan recovery for retail loans in its offer document filed with Sebi.The company has said it is setting up a digital platform that will allow defaulting retail borrowers to submit settlement offers and […]
Government willing to aid exports, but subsidies not on table
NEW DELHI: Amid a clamour for succour after Trump’s tariff announcement, govt has ruled out demands for subsidy, but suggested it is open to “innovative ways” to help industry beat the crisis.The message was delivered by commerce and industry minister Piyush Goyal during his meetings with some of the industry representatives in Mumbai over the […]
Donald Trump tariffs: US advisor rules out talks; says rates are ‘pretty much set’
US President Donald Trump’s trade advisor Jamieson Greer has said the new American tariff rates are “pretty much set” with limited scope for negotiation, defending the Trump administration’s latest round of levies, including harsh duties on Brazil.In a pre-recorded interview aired on CBS’s Face the Nation on Sunday, US trade representative Greer said the rates […]
Technical snag: Air India cancels Singapore-Chennai flight; offers refunds and hotel stay
Air India on Sunday cancelled its Singapore to Chennai flight AI349 following a technical issue that required extended maintenance work. The flight, scheduled to be operated using an Airbus A321, was grounded after a pre-departure check flagged the problem.In a statement issued on Sunday, the airline said, “Flight AI349 scheduled to operate from Singapore to […]
Monetary policy: RBI likely to hold repo rate at 5.5% amid growth concerns, subdued inflation – Experts
The Reserve Bank of India is expected to maintain the repo rate at 5.5 per cent in its upcoming monetary policy review on August 6, following three consecutive rate cuts totalling 100 basis points. The central bank’s Monetary Policy Committee (MPC), headed by Governor Sanjay Malhotra, will begin its three-day deliberations on Monday.While inflation remains […]