What was the trigger for the sheer drop in shares? Is the Metaverse not profitable? The story so far: The shares of Meta Platforms, the parent company of social media giant Facebook, crashed by as much as 25% on Thursday, wiping out over $200 billion from the company’s market value. The crash came after Meta on Wednesday announced its earnings […]

Airline owes $24 million to Swiss vendor The Supreme Court on Friday gave air carrier SpiceJet three weeks to resolve its dispute over the non-payment of more than $24 million to a Swiss company towards maintenance, repairs and overhaul of aircraft engines and components. “What is this? Why are you not paying up? Are you taking advantage because you are […]

“Holistic approach will be required to ensure availability of digital infrastructure in building complexes” Telecom regulator TRAI will soon come up with recommendations that will facilitate in improving telecom connectivity, especially 5G when it is rolled out, a top official has said. Telecom Regulatory Authority of India (TRAI) chairman P.D. Vaghela during a virtual event organised by Digital Infrastructure Providers […]

Third-quarter profit climbs to ₹18,549 crore as overall revenue surges 52% to ₹2,09,823 crore Reliance Industries Ltd. (RIL) on Friday reported consolidated net profit for the quarter ended December 31 grew 41.6% from a year earlier to ₹18,549 crore, aided by a strong showing at its retail and refining businesses and a one-time gain from the sale of U.S. shale […]

‘Prices will be revealed in March; deliveries from April onwards’ Toyota Kirloskar Motor (TKM) has officially announced its maiden Lifestyle Utility Vehicle (LUV), Hilux, for the Indian markets on Thursday.The auto major said bookings for Toyota Hilux were open, however, ex-showroom prices would be announced only in March 2022 while deliveries would commence from April onwards.Hilux was a name derived […]

HCL Technologies CEO and MD C. Vijayakumar on Monday said business was in the best shape that it could be and the company is optimistic of a good growth trajectory, especially in the medium term, driven by focus on digital transformation. The statement comes after the company’s scrip fell 5.89% to ₹1,258.80 per share on the BSE, following the third-quarter […]

Domestic air traffic has already plummeted 25% in the first week of January Hit by the third wave of the COVID-19 pandemic and soaring fuel prices, airlines are flying towards record losses with a likely loss of a whopping ₹20,000 crore for the full fiscal year, warns a report. The airlines are flying towards their steepest-ever net loss of over […]

Fastest expansion since 2011 was driven by exports, consumption; slump in birth rate clouds outlook China’s economy grew 8.1% in 2021 and reached the $18 trillion mark, although slowing growth in the last quarter and the lowest birth rate since 1949 emerged as concerns for policymakers. Last year’s expansion was the fastest since 2011 and marked a strong recovery after […]