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Vishal Mega Mart planning $1 bn IPO valuing supermarket chain at $5 bn

The retailer has 560 stores, mainly in smaller cities, that sell clothes and grocery items. It competes with Indian tycoon Mukesh Ambani's Reliance, Tata Group's Trent

Apple to allow developers to distribute apps directly from their websites

"We're providing more flexibility for developers who distribute apps in the European Union, including introducing a new way to distribute apps directly from a developer's website," Apple said

Paytm's third-party application licence likely to get approval this week

UPI, operated by the NPCI, is India's real-time payments system that allows users to transfer money across banks

FAA audit finds issues in Boeing 737 MAX production after midair blowout

In the wide-ranging investigation, Boeing failed a check which dealt with the component that blew off the jet, known as a door plug, the report said, citing an FAA presentation viewed by NYT

BAT plans to sell up to 3.5% of stake in ITC, will own 25.5% after sale

The sale of 437 million ordinary shares in ITC through a block trade, will cut the Dunhill cigarette maker's shareholding to about 25.5% from about 29%

Reliance's fuel supply to Europe avoids Red Sea to keep clear from Houthis

Globally fuel producers are avoiding the Red Sea and go around Africa to avoid Iran-aligned Houthi attacks despite the Suez canal being the shortest route between Asia and Europe

Wheat inventories hit 7-year low at 9.7 MT after record state sale

Wheat reserves in state stores totalled 9.7 million tons at the start of this month, down from 11.7 million tons in March 2022, the state-run Food Corporation of India said

As Rupee appreciates, importers take advantage of unexpected up move

The rupee has been in a narrow 3 paisa range, having reached a more than six-month high on Monday

Tesla, major automakers get low marks for autopilot-driving technology

The IIHS, a safety research arm of the insurance industry, also said there is no evidence that Autopilot or other assisted-driving systems have real-world safety benefits, based on crash data.

Crypto rush: Bitcoin hits record above $72K as demand frenzy intensifies

Supply of bitcoin, which is limited to 21 million tokens, is set to get tighter in April, when the so-called "halving" event takes place

JPMorgan's CEO urges US Fed to wait past June before cutting rates

Markets see an 84% probability the Fed will lower rates in June and have priced in 90 basis points of cuts for the year

Disney failed to disclose ValueAct's past money management role: Blackwells

Disney is relying on ValueAct's endorsement at a time it is fighting to fend off two other activist-investors - Blackwells and Trian Fund Management - as each firm lobbies for seats on Disney board

Russia's spy service KGB accuses US of trying to meddle in election

Putin, who is almost certain to win the March 15-17 presidential election, has warned the West that any attempts by foreign powers to meddle in the ballot would be considered an act of aggression

China passes law granting Communist Party more control over cabinet

The amended State Council Organic Law passed by 2,883 delegate votes, with eight opposing and nine abstaining, during the closing day of the National People's Congress in Beijing

Bitcoin above $71,000 as demand frenzy intensifies, hits new record high

Britain's financial watchdog on Monday became the latest regulator to pave the way for digital asset trading products after

US leads global crude oil production for sixth year in a row: EIA

"The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row," the EIA added

RBI takes delivery of $5 bn dollar/rupee swap to bolster liquidity: Bankers

Bankers reckon that the central bank opted to take delivery, thereby removing $5 billion out of the system and injecting proportionate liquidity

Reddit launches long-awaited IPO, targets up to $6.4 billion valuation

The company, along with some of its existing investors, is targeting a sale of about 22 million shares, priced between $31 and $34 each, to raise up to $748 million

Soon, Elon Musk's AI startup xAI to make Grok chatbot open source: Details

The move would give the public free access to experiment with the code behind the technology powering xAI's Grok chatbot, and aligns xAI with firms such as Meta and Mistral

Rupee ends higher on dollar inflows, likely RBI intervention caps rise

"The rupee has broken a key support level of 82.80 given robust inflows, solid fundamentals and a weakening dollar," said Amit Pabari, managing director at forex advisory firm CR Forex