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Prosus NV slashes valuation of edtech giant Byju's to $5.1 billion

Prosus had downsized the value of its 9.6% stake in Byju's to around $493 million in the financial year ended March 31, the report added

RBI relaxes restrictions on HDFC Credila over on-boarding of new customers

The RBI had also asked for the shareholding of HDFC Bank in HDFC Credila to be brought down to 10% on or before March 31, 2024, the company said in the filing

Bank of America to expand in 4 US states, closing gap with JPMorgan

Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee and New Orleans

Bitcoin soars 20% in 11 days after BlackRock files application for spot ETF

BlackRock filed for a prospective spot bitcoin ETF on June 15, undeterred by the Securities and Exchange Commission's (SEC) past record of rejecting every such application

Promising signals of further decline in UK inflation: BoE's Dhingra

Dhingra is one of two members of the BoE's nine-member Monetary Policy Committee (MPC) who have consistently voted against the central bank's interest rate rises since December

Brookfield reinsurance arm offers to buy American Equity in $4.3 bn deal

Deal comes months after AEL rejected nearly $4 bn takeover offer from Prosperity Life and its principal shareholder Elliott Investment Management, saying bid "significantly undervalued" company

J&J's proposed $8.9 bn talc lawsuits settlement faces US bankruptcy test

US bankruptcy law typically shields debtors from lawsuits while they reorganize in bankruptcy

Edtech giant Byju's seeks to raise $1 billion to stave off investor revolt

The education startup is offering benefits to the potential investors, including preferential treatment in the case of liquidation, the report said

Audi ex-boss becomes 1st top manager sentenced for fraud in diesel scandal

The ex-boss was fined 1.1 million euros ($1.20 million), which will go to the state treasury and non-governmental organisations, the court said

Saint-Gobain accused of anti-competitive practices, CCI reviewing case

The case against Saint-Gobain and its local unit was filed to the Competition Commission of India (CCI) in May by a retired glass industry executive, whose name was redacted in the documents

Aditya Birla Capital to raise up to Rs 1,750 crore via share sale

The issue price for the placement is between Rs 170 and Rs 176, a 6.2% to 2.9% discount to Monday's closing level of Rs 181.25

India's current account balance likely turned to surplus in Jan-March: Poll

The latest survey of 22 economists showed the current account balance likely recorded a surplus of $3.3 billion, or 0.4% of gross domestic product (GDP), in the last quarter of the 2022/23 fiscal year

Popstars could be powering inflation as concert prices surge, fans pay more

Fans are shelling out a fortune for tickets to see the world's biggest music acts, including names like Taylor Swift and Bruce Springsteen who haven't toured for years

Go First's lenders approve $55 mn fund infusion to revive carrier: Reports

Go First was granted bankruptcy protection on May 10. Reuters reported last week that the airline has sought Rs 400 cr- Rs 600 cr in additional funds from banks

Saudi Aramco sees 'sound' oil outlook for H2CY23 on China, India demand

Brent crude futures are down about 14 per cent since the start of the year as rising interest rates hit investor appetite

It was a protest, not an attempt to overthrow regime: Wagner leader

Putin 'reappears' as govt calls on nation to unite behind him; Prigozhin still faces mutiny case

US stocks muted as rate hike worries linger, Russia tension simmers

Tech stocks, particularly chips, put the Nasdaq out front, with the S&P 500 showing a more modest gain

Google asks Supreme Court to quash Android antitrust directives: Report

In March an Indian tribunal gave partial relief to the Alphabet Inc unit by setting aside four of the 10 directives in the case

US Supreme Court declines to hear Nike, Adidas tech patent dispute

Adidas petitioned the patent office tribunal to cancel one of Nike's patents related to making seamless knitted upper components for athletic sneakers in 2012

Pakistan hikes policy rate to 22% to secure IMF deal in a last-ditch effort

"The MPC views this action as necessary to keep real interest rate firmly in positive territory on a forward-looking basis," the central bank said in a statement