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HERE IS WHAT YOU NEED TO KNOW FROM INDIA
CCI probe finds Amazon and Flipkart violating antitrust laws due to alleged anti-competitive practices, including deep discounts and exclusive partnerships. Investigation report to be shared soon. Industry bodies urge CCI action.
Key lenders to Vedanta Ltd signal approval for demerger after months of deliberation, unlocking $7 billion debt distribution. Sebi, NCLT approvals awaited. Fresh lines of credit anticipated post-demerger for growth capital.
Bharat Biotech asserts Covaxin’s excellent safety record amid AstraZeneca’s side effect acknowledgment. Covaxin, second most used vaccine in India, prioritized safety over efficacy. Studies show no incidents like blood clots.
April’s Manufacturing PMI slips to 58.8 from March’s 16-year peak (59.1) but maintains robust growth. Strong domestic and foreign demand drive increased production and new orders. Input stocks rise, cost pressures elevate, but inflation remains historically mild.
India Inc boosts gender diversity in leadership. Accenture, Diageo, Marico, PepsiCo, L&T prioritize women’s representation with tailored programs, mentoring, and support networks. Efforts show progress, with plans for further improvement outlined.
HERE IS WHAT YOU NEED TO KNOW FROM THE WORLD
Huawei secretly funds US research through Optica Foundation, bypassing restrictions. The initiative awards millions, raising concerns about transparency and national security. Universities, including Harvard, unwittingly involved.
Joshua Dean, one of the initial Boeing whistleblowers, dies at 45 due to a sudden lung infection. He raised concerns about manufacturing defects in the 737 Max. His death follows another whistleblower’s apparent suicide in March.
Apple offered its largest share buyback ever. The $110 billion initiative was announced with its second-quarter earnings yesterday, which showed slowing revenue and a drop in iPhone sales.
INFOGRAPHICS OF THE DAY
IPL teams’ revenue dropped ‘sharply’ in FY23, could be reaching saturation. League may need to make structural change, says report that studied market filings of companies owning IPL teams
Total Revenue (INR Crore)
Source – Private Circle & Business Standard.
QUOTE OF THE DAY
“The only way to do great work is to love what you do”
– Steve Jobs, an American entrepreneur, inventor, and co-founder of Apple
BEST WISHES FOR YOUR PRODUCTIVE DAY!
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