Page 344 - Bloomberg/undefined

FirstCry founder Maheshwari probed for alleged $50 million tax evasion

At least six investors in FirstCry, including private equity firm ChrysCapital Management Co and Sunil Bharti Mittal's family office, have also received enquiries related to the matter

Vedanta seeks to identify its dollar bondholders as $2 billion debt looms

Vedanta has engaged a corporate advisory firm Morrow Sodali to identify owners of notes that mature in January 2024, August 2024 and March 2025, according to a notice sent last week

Succession at Reliance: A large family fortune starts a risky transition

That transition could arrive by 2028. At Reliance Industries Ltd.'s annual general meeting Monday, the 66-year-old announced that his three children would be joining the board

ITC's Puri hopes food export bans are short-lived once supply stabilises

The company, a major wheat exporter, saw its agriculture business revenue decline 25% in the April-June quarter, hit by the export bans, according to its quarterly earnings presentation

BYD reports its weakest revenue as auto price war takes a toll in China

Revenue rose 67 per cent to 140 billion yuan ($17.8 billion) in the three months ended June, the smallest gain since the first quarter of 2022, according to Bloomberg calculations

Tech giants to face 3% digital tax in New Zealand, will begin in 2025

It would be applied at 3% on gross taxable New Zealand digital services revenue, similar to the taxes adopted by other jurisdictions such as France and the UK

US Judge cancels class-action lawsuit won by users against Google

The ruling, which is yet to be finalized, would dramatically reduce potential damages facing Alphabet Inc. over claims that Google Play abuses its control over Android mobile applications

Saudi Arabia's $7,000 per person fuel subsidies highest in G-20 economies

Saudi Arabia's total spending on fuel subsidies soared over the past two years, hitting the highest among the Group of 20 economies on a per capita basis.

Goldman to sell wealth-advisory unit to $240 billion money manager

Goldman didn't disclose the sale price but said it expects to recognize a gain when the deal closes

Raw sugar heads toward two-month high on concern over Indian exports

"Indian exports for the coming season look more likely they will be canceled, at least until after the election," said Michael McDougall, managing director at Paragon Global Markets

OpenAI unveils ChatGPT for business customers, stepping up revenue push

The rollout of ChatGPT Enterprise is a move forward in OpenAI's plans to make money from its ubiquitous chatbot, which is enormously popular but very expensive to operate

SoftBank Group plans AI tour for founders to boost technology adoption

Son invested more than $140 billion in startups after setting up the Vision Fund in 2017, championing the potential of new technologies such as artificial intelligence

Central govt's restrictions on rice exports puts wheat and sugar in focus

The curbs on rice now cover all varieties that the South Asian nation ships to overseas markets, further tightening global supply

Hyperdrive: Here's why 'black mass' is latest buzzword for EV industry

There's growing interest in battery recycling as the global electric-vehicle industry expands, and as carmakers and Western governments aim to build supply chains that bypass China

Billion-dollar pharma cos set to face their first US price negotiations

For taxpayers, the savings could be significant: Negotiations could save the US $36.5 bn from 2026 to 2028, according to Wells Fargo Securities. Drugmakers are suing the government to stop the squeeze

S&P 500 comebacks fade at historic pace, illustrates lack of conviction

By the end of July, the S&P 500 had risen almost 30% off its October lows

Markets show China needs stimulus 'bazooka' to bring back investors

The price action illustrated once again how China's efforts to boost its markets are struggling in the face of economic worries

Viasat Inc's $1 bn orbiting satellites risks upending space insurance

Viasat's troubles in orbit come a few years after big-name insurers like American International Group Inc and Allianz SE have shuttered their space portfolios

PM Modi weighs continuing free grains program into Lok Sabha polls 2024

The proposal involves continuing a $24 billion program by another six months to June 2024, said the people who asked not to be identified as the discussions are private

Apple, Tesla links mean China can't pressure business: Foxconn's Terry Gou

If China were to confiscate assets of Hon Hai Precision Industry Co., it would hurt the interests of major global pension funds, and "no foreign investor will dare to invest," he said