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Ola Electric suspends India car project to focus on scooters, bikes: Report

Ola had planned to launch e-sports car this year

US economy rebounds with 2.8% GDP growth in Q2; price pressures easing

Core PCE price index rises at 2.9% rate

Ford slips as higher costs, EV segment take a toll on profit growth

Analysts at Piper Sandler cited these 'unwelcome warranty headwinds' as the reason for the stock slump

Universal Music Group shares drop 30% as streaming growth disappoints

"The speed and quantum of the slowdown in subscription revenues caught the company and analysts by surprise," JPMorgan analysts said in a note

Meta to be hit with first EU antitrust fine for linking Marketplace, FB

Meta could face a fine of as much as $13.4 billion - or 10% of its 2023 global revenue - although EU sanctions are usually much lower than that cap

'Amazon racing to develop AI chips cheaper, faster than Nvidia's'

Through its homegrown chips, Amazon wants to help customers compute complex calculations and process enormous amounts of data more cheaply

Diageo India's CEO summoned by Delhi city police in liquor payments case

A spokesperson for Diageo India confirmed receiving the Delhi police notice and said the company would fully cooperate and was "in the process of providing the information sought"

India not to sign global corporate tax deal until concerns addressed

US Treasury Secretary Janet Yellen in May accused India of refusing to engage on issues important to US interests, noting that negotiations were stuck

Mahindra Holidays Q1FY25 results: Pre-tax profit rises to Rs 14 cr

Travel demand has rebounded strongly from the pandemic lows, benefiting companies from airlines to hotel operators

India's duty cut stops concessionary silver, platinum imports from UAE

After the reduction, there is no incentive to bring silver or platinum into India

Westlife Foodworld posts Q1 profit drop on higher costs, weak demand

Revenue from operations was little changed at Rs 616 crore

Adani Green Energy Q1 result: PAT doubles to Rs 629 cr on strong sales

Adani Green's energy sales increased by 22 per cent year-on-year to 7,356 million units in the quarter

PNB Housing Finance Q1 result: PAT rises 25% to Rs 433 cr on steady demand

Demand for premium housing in the country has been strong even as the affordable segment saw some pressure due to high interest rates

Nestle cuts sales outlook as consumers become increasingly cost-conscious

"There is value-seeking behaviour among consumers. There is pressure, especially at the low-income range," CEO Mark Schneider said in a media call

Nissan's profits wiped out by deep US discounts; shares plunge 7%

The US and China are Nissan's two biggest markets, accounting for half of global sales in the year through March and 51 in the first quarter of this financial year

South Korea's Hyundai Motor posts record Q2 profit on strong US sales

The automaker, however, warned of an uncertain outlook due to intensifying price competition as inflation and high interest rates squeeze consumers

AstraZeneca raises sales and profit forecast as demand for therapies grows

AstraZeneca's drug pipeline has evolved significantly under CEO Pascal Soriot since he took over more than a decade ago

South Korea seeks to lower inheritance tax in first revision since 2000

High inheritance taxes have been cited by analysts as a factor behind the "Korea discount", which refers to South Korean firms' comparatively lower valuations.

Germany's busiest airport opens again after climate activists block runway

A spokesperson for Frankfurt, a vital international transit hub and one of Europe's biggest airports, said around 140 flights had been cancelled out of 1,400 planned on Thursday

Foreigners sell nearly $1 billion in equities in two days since Budget

The increase in capital gains tax is clearly a negative even if the increase on long-term gains is moderate, said Ashish Gupta, chief investment officer at Axis Mutual Fund