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Paytm expects up to $60 million hit from RBI action on its payments bank

Paytm will take steps immediately to comply with the RBI's directions, the fintech company said in a statement on Thursday. As a result, it expects a worst-case impact of Rs 300 crore ($36.12 million)

Govt likely to lay out modest economic manifesto in pre-election budget

She is expected to highlight the Modi government's 10-year economic performance, but will hold back on expensive schemes to lower the fiscal deficit.

US strikes around 10 unmanned drones in Yemen on verge of launch: Official

The Houthis, earlier on Wednesday, said their naval forces carried out an operation targeting an "American merchant ship" in the Gulf of Aden hours after firing missiles at US Navy destroyer Gravely

India's aviation sector needs to clarify insolvency laws, says ACG

India amended its insolvency laws last October to exclude leased aircraft from assets that can be frozen in a bid to address discrepancies between local and global rules

Dollar hovers near seven-week high as Fed cut expectations shift to May

The dollar has been buoyed by U.S. economic data suggesting the Fed can wait longer before cutting interest rates

Qualcomm Q2 profit forecast beats estimates amid AI push, shares gyrate

For Qualcomm, "5 per cent revenue growth and 24 per cent earnings growth is very constructive in a skeptical earnings season environment," said Thomas J. Hayes of Great Hill Capital

Mastercard profit beats Wall Street estimates on healthy spending trends

The report capped a robust year for the company as hopes of a "soft landing" for the economy and bets of interest rate cuts by the U.S. Federal Reserve encouraged big-ticket purchases and more travel

China unveils property support measures amid Evergrande fallout concerns

The latest measures add to a string of policies deployed by the world's second-largest economy over the past year to help revive the property sector, which accounts for a quarter of China's GDP

Meta CEO Zuckerberg apologises to parents at US Senate social media hearing

Under prodding from Republican Senator Josh Hawley, Zuckerberg stood up and addressed families who held up pictures of their children who they said had been harmed by social media

President Biden's job approval ratings drops to 38% as border worries rise

The economy remained Americans' overall top concern, cited by 22% of poll respondents, as they have struggled with inflation and other aftershocks of the COVID-19 pandemic

Gaza's economy post war could take decades to recover, says UN trade body

The United Nations Conference on Trade and Development said the conflict had precipitated a 24% contraction in Gaza's GDP (gross domestic product) and a 26.1% drop in GDP per capita for all of 2023

Novavax announces fresh round of layoffs, plans to reduce 12% of workforce

Novavax said the decision is part of its intention to bring down expenses below $750 million this year, which it had disclosed during its third-quarter earnings call in November

Meta, TikTok, X CEOs face questions on child safety at US Senate hearing

Senator Amy Klobuchar on Wednesday questioned what she said was inaction in the tech industry, comparing it to the response shown when a panel blew out of a Boeing plane earlier this month

Wistron Corp to set up laptop making unit in Karnataka for Rs 1,500 cr

The proposed plant is expected to create around 3,000 jobs and also produce electric vehicle-related parts, a statement from the government said

Oil prices fell due to weak economic activity in leading importer China

Brent crude futures for March, which expire today, fell 90 cents, or about 1.1%, to $81.97 a barrel by 1530 GMT. The more actively traded April contract was down $1.17, or about 1.2%, at $81.33

Go First's lenders to seek extension of insolvency process by 60 days

Under the country's Insolvency and Bankruptcy Code, the National Company Law Tribunal (NCLT) has the authority to extend the resolution timeframe to a maximum of 330 days

Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr

The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from Rs 518 cr

Mastercard's expense forecast eclipses fourth-quarter profit beat

The forecast follows a 10% jump in fourth-quarter adjusted operating expenses to $2.9 billion, largely due to personnel costs

10-year bond yield declines below 4% as investors await US Fed

The Federal Reserve two-day policy meeting will conclude this afternoon. Markets have priced in a near-certainty that the central bank will leave benchmark interest rates in their current range

Boeing postpones 2024 outlook, CEO says company has 'much to prove'

The 787 production rate was at five per month, Boeing said, adding that it had also resumed 777X production during the fourth quarter