Top Headlines: Fed lifts rates, quick commerce in funding winter, and more

Business Standard brings you the top headlines at this hour

Fed lifts rates by half percentage point, sees economy nearing stall speed

The US Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. Read More
 

40% of all vehicles sold will be electric by 2030, says Bain & Co report

As much as 35 per cent to 40 per cent of all vehicles sold in the country across segments will be electric by 2030, up from a mere 2 per cent this year, says a Bain & Co report released today. This translates to 14-16 million new electric vehicles (EVs) selling in a year. Read More
 

Quick commerce finds it footing amid funding winter, now needs to scale

While the funding winter has impacted startups across sectors, one area that was expected to take the biggest hit, but surprisingly managed to survive and thrive is the quick commerce segment. As far as funding goes, the segment managed to garner sufficient investor interest. Read More
 

EAM Jaishankar slams Pakistan for raking up Kashmir issue in UNSC

India strongly hit back at Pakistan on Wednesday after it raised the Kashmir issue in the UN Security Council, asserting that a country that hosted slain al-Qaeda leader Osama bin Laden and attacked a neighbouring Parliament does not have the credentials to sermonize in the powerful UN organ. Read More
 

A full house for cinema: 2022 box office to close at Rs 11,000 crore

Estimates by multiplex chains and film trade experts suggest that 2022 will close at nearly Rs 11,000 crore in terms of gross value for the Indian BO across languages. This is almost on a par with 2019 levels, considered the best year for the Indian film industry to date. Read More