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SpiceJet has reportedly not deposited money into the pension funds of its employees for at least 18 months, adding another spot, if true, on the budget carrier's recent trajectory that is trying to navigate through debt and legal cases against lessors and its former promoter. SpiceJet has also not submitted employee tax since the last fiscal year that ended on March 31, Reuters reported citing sources sharing the information with CNBC TV18. SpiceJet has reportedly also delayed salaries to senior employees by up to 3 weeks, the source said. However, SpiceJet told the TV channel that it hopes to desposit substantial outstanding employee tax soon.(more to come)

Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in. About 20 companies had submitted an expression of interest in bidding on the privatisation, the first of its kind under a policy drive by Prime Minister Narendra Modi to open launch and other space businesses to investment. India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. The next step will be to open the bidding process itself, the person said, who had direct knowledge of the matter but asked not to be named because discussions are not public. The companies did not respond to a Reuters request for comment. Hindustan Aeronautics, also known as HAL, and Larsen & Toubro, an industrial conglomerate, already have a contract with the government to manufacture and deliver rockets to ISRO. Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) — often called ISRO's «workhorse» rocket.

₹205.15 apiece on the BSE on Friday. However, the stock witnessed some buying and recovered from day’s low to hit an intraday high of ₹225.00 apiece. About 227 million JFSL shares changed hands on Friday, Reuters reported.

Nifty to decline for the second consecutive session while investors directed their attention towards the Jackson Hole symposium in search of indications about the future direction of interest rates. Media reports suggested the dollar held firm near an 11-week peak while the US Treasury yields stabilised below 14-year highs ahead of the US Federal Reserve Chair Jerome Powell's speech at Jackson Hole.

Tesla made an investment proposal to set up a car factory in India, a way to enter the domestic market. According to an exclusive report by Reuters, the import tax could be reduced to as low as 15% as opposed to the current 100% for cars that cost above ₹33 Lakhs and 70% for the rest. The Reuters report citing people familiar with the development noted that the move if implemented could allow electric vehicle makers to import fully-built EVs into India with just 15% import tax to be paid to the Indian Government.

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The Associated Press. Rubiales, 46, is expected to stand before representatives of Spain’s regional federations, clubs, players, coaches, and referees in Madrid at noon local time. Local media reports stated that he is expected to step down.

By Orathai Sriring and Kitiphong Thaichareon

By Lewis Jackson and Praveen Menon

share buyback plan and reported upbeat second quarter results led by strong demand for its artificial intelligence (AI)-focused chips. Nvidia’s second quarter revenue of $13.51 billion beat analyst expectations.

Yevgeny Prigozhin was on the list of passengers on the plane that crashed on a flight from Moscow to St. Petersburg. A plane carrying three crew members and seven passengers that was en route from Moscow to St.

Also Read: Nvidia share price hits all time-high, short sellers lose $826 million On Thursday, around 321,000 Disney options contracts were traded, which was 1.4 times the average daily volume, according to data from options analytics firm Trade Alert. Trading sentiment leaned toward bearish bets with put options that would guard against the stock slipping below 80 by mid-September and mid-October, and were among the most actively traded contracts, Reuters reported.

Former US President Donald Trump has returned to the social media platform X (formerly Twitter) and posted an update for the first time since his account was suspended in early 2021. In a post on X, Trump shared a mugshot of himself from his booking at the Fulton County Jail in Georgia.

Vladimir Putin sent his condolences to the family of Yevgeny Prigozhin on Thursday, breaking his silence after the mercenary leader's plane crashed with no survivors two months after he led a mutiny against army chiefs. Putin's comments, which suggested he harboured decidedly mixed feelings about Wagner's mercenary boss, were the most definitive yet on Prigozhin's fate. Before he spoke, the only official statement had come from the aviation authority which said Prigozhin had been on board the downed plane. Russian investigators have opened a probe into what happened, but have not yet said what they suspect caused the plane to suddenly fall from the sky northwest of Moscow on Wednesday evening. Nor have they officially confirmed the identities of the 10 bodies recovered from the wreckage. U.S.

economic growth likely accelerated to 7.7% in the April-June quarter, the fastest annual pace in a year, on robust service sector growth, strong demand and increased government capital expenditure, a Reuters poll found. All but two of 51 economists surveyed between Aug. 18 and Aug.

mortgage lender, which went public via a blank-check company merger just as mortgage rates have hit two-decade highs. Backed by SoftBank, Better completed its combination with special purpose acquisition company (SPAC) Aurora Acquisition Corp, capping a rocky deal that was first announced in 2021 but delayed amid regulatory scrutiny and layoffs at Better. The company hit the headlines in December 2021 after it laid off 900 employees via Zoom, and has since seen its profits dented as high mortgage rates have dampened demand for home loans. Aurora went public in March 2021. Shares in Better Home & Finance Holding Co, the newly merged entity, finished the session down 93.4% at $1.15. SPACs are shell companies that raise funds through a public listing with the goal of acquiring a private company and taking it public.

India driven by uneven and scanty rain is forcing the government into a series of measures to boost supplies and ease inflationary pressures. While annual retail inflation was at a 15-month high of 7.44% in July, food price inflation rose to 11.5%, its highest in more than 3 1/2 years, pushing Prime Minister Narendra Modi's government to act quickly to avert any backlash from voters in upcoming state and national elections. To ease the hardship for low-income consumers, the government is considering expanding a free food programme which is due to end in December, according to two government sources who declined to be named as they are not authorised to speak to the media. Food subsidies are estimated to cost the government 1.97 trillion Indian rupees($23.83 billion) in 2023/24 and an expansion of the free food scheme could raise the bill. The government has stepped up sales of subsidised vegetables, particularly onions and tomatoes, through its distribution network, while releasing stocks of wheat and sugar into the market to cool prices. The measures could cumulatively cost the government over $12 billion, the government sources said. Additionally, the government is set to ban sugar exports for the first time in 7 years, having banned exports of key categories of rice last month.

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Wells Fargo investment institute's Paul Christopher discusses recession risk in the U.S. and shares his market outlook.

By Saqib Iqbal Ahmed

Source: Binance