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MUMBAI: The stock markets have been experiencing heightened volatility amid selling by foreign portfolio investors, downgrades to corporate earnings, and slower economic growth. The Nifty 50 has corrected over 10% since 27 September 2024.

Lava International managing director Hari Om Rai who was arrested in October last year in a money laundering case involving Vivo Mobile Communication China, and its Indian group entities. Noting that Rai had been in custody since October 10, 2023 and the trial was at the stage of documents and charges were yet to be framed, Justice Manoj Kumar Ohri said: “...the trial is not expected to end anytime in the near future and the delay is not attributable to the accused, keeping the accused in custody by using Section 45 PMLA(Prevention of Money Laundering Act, 2002,) a tool for incarceration or as a shackle is not permissible,” the HC said, adding liberty of an accused cannot be curtailed by Section 45 of the 2002 Act without taking all other germane considerations into account. The case has 48 accused persons, 527 witnesses and 80,000 pages of documents, and the trial was not expected to end anytime in the near future, the judge said, adding that out of the seven accused persons who were arrested, the arrest of three persons had been declared illegal by the trial court and the other three have already been released on bail, said the court.

According to Musk, OpenAI spends $1.5 billion annually on its workforce of 1,500 employees. This includes a median yearly compensation of $534,197, with software engineers earning a median of $810,000, significantly higher than the $257,500 average in San Francisco’s tech hub. Some high-level positions see pay reaching $1.3 million annually. Also Read: Trump’s plan to end birthright citizenship, will his son Barron be a U.S. citizen? Here's all you need to know

A company in the US is providing employees with a safe outlet to anonymously «scold» their bosses, alleviating the fear of repercussions for speaking out. The employees of this company who fear repercussions for voicing their grievances has captivated the online community can avail this service, resonates with netizens in China who perceive an urgent need for such a service.

The partnership between the two firms means that Ninety One will take ownership of Sanlam's active asset manager, Sanlam Investment Management.  As part of the agreement, Sanlam will also appoint Ninety One as the investment manager of Sanlam Investments UK, taking ownership of the balance sheet assets, third-party assets and relevant investment professionals involved in the strategies. In recognition of the £17.4bn of assets transferred from Sanlam, 80% of which reside in South Africa, Ninety One said it intends to issue shares to Sanlam, amounting to an approximate stake of 12.3% of...

This new direct service between Chennai and Penang, caters to the growing demand for travel between the two cities, offering both business and leisure travelers a convenient and affordable option, IndiGo said in a statement.

Sanjay Dutt’s premium Scotch whisky brand, The Glenwalk, has achieved a significant milestone by selling over 50,000 cases (600,000 bottles) in the first seven months of the current financial year. The brand has established a strong presence in India’s spirits market, operating across 10 states. Maharashtra leads The Glenwalk’s sales, contributing over 45%, followed by Haryana at 25% and Uttar Pradesh at 20%. Currently available in Maharashtra, Haryana, Goa, Daman and Diu, Delhi, Punjab, Chandigarh, Uttar Pradesh, Uttarakhand, and Madhya Pradesh, the brand plans to expand to five additional states by next month. Looking to capitalize on this growth, The Glenwalk aims to increase sales by 500%, targeting 300,000 cases while expanding to over 18 states and five countries. To cater to diverse consumer preferences, the brand introduced 1-litre bottles in October 2024 and plans to launch 200ml nips in November 2024, aiming to quadruple sales.

Sula Vineyards Ltd CEO Rajeev Samant hopes that the current slowdown in urban discretionary demand is «more of a temporary blip and not structural» one. In the second quarter of the fiscal year, the company's net revenue declined 1.2 per cent to Rs 142 crore as compared to Rs 143.7 crore in the year-ago period, while profit after tax dipped 37.3 per cent to Rs 14.5 crore as against Rs 23.1 crore in the same quarter last fiscal year. Samant told analysts that in the second quarter the company witnessed «a temporary slowdown in consumer demand across discretionary categories, including alcoholic beverages, particularly within urban India, which does represent more than 90 per cent of Sula's customer base». Post-Covid, he said, «We saw a surge in domestic wine consumption which lasted until last year, as the consumer did a bit of cocooning at home and splurged on creature comforts.»

Coal import by non-regulated sectors (NRS) dropped 9.83 per cent to 63.28 million tonnes (MT) in the April-September period of the ongoing financial year, the government on Wednesday said. The coal import by NRS was 70.18 MT in year-ago period. The coal import by domestic thermal power plants for blending purpose also declined 8.59 per cent to 9.79 MT in the April-September period from 10.71 MT a year ago. «This demonstrates an increased reliance on domestic coal supplies for these sectors,» the coal ministry said in a statement.

Equity investments in Indian real estate may rise 49 per cent to USD 11 billion this calendar year amid strong demand for properties, according to CII and CBRE. In 2023 calendar year, the equity investments in real estate stood at USD 7.4 billion. Industry body CII and real estate consultant CBRE on Wednesday released a joint report titled 'Leading the Charge: Crafting the Skylines of Tomorrow' at the annual CII Realty 2024 conclave. Equity capital inflows touched USD 8.9 billion between January and September, registering a 46 per cent year-on-year growth.

Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided in its meeting held last month to keep the policy rate unchanged for the tenth consecutive time. In April last year, the MPC stopped its rate-hike cycle by retaining the key lending rate at 6.5 per cent. The RBI had hiked rates six times in a row before it decided to pause in April last year. The impact of those rate hikes was not believed to have percolated to the ground by then. As inflation seemed to be coming under control in recent months, expectations about a rate cut grew. Though the RBI changed the stance to 'neutral' from the earlier 'withdrawal of accommodation' unanimously, it retained the key rate at 6.5%. in its last meeting in October due to high inflation. The inflation further touched a 14-month high at 6.2% for October, led by a spike in vegetable prices. It is above the RBI's mandate of 4% with a tolerance band of 2 percentage points on either side. Now, many expect the RBI to cut rates in February next year, instead of earlier expectations of a rate cut in December.

Franklin Templeton Mutual Fund has launched the Franklin India Long Duration Fund, an open-ended debt scheme that invests in instruments such that the Macaulay Duration of the portfolio is greater than seven years. The New Fund Offer (NFO) for the scheme is open for subscription and will close on December 4. The investment objective of the scheme is to generate returns by investing in debt and money market instruments, ensuring the Macaulay duration of the portfolio exceeds seven years.

hallmarked jewellery provides a third-party assurance of the purity of gold for the quoted price.

Skill Development Fund (NSDF) will soon invest its surplus funds in term deposits to get better returns on the corpus used for imparting skills training in the country. The fund has invited expressions of interest from public sector banks to invest around Rs 900 crore in fixed deposits for a period of one year, the ministry of skills development and entrepreneurship said in a notification. The plan is to prepare a panel of banks for investment of surplus funds in fixed deposits.

Wipro Executive Chairman Rishad Premji has voiced optimism about the potential impact of Donald Trump’s return to the US presidency on India’s IT services sector. Speaking at an event in Bengaluru on November 19, Premji stated that Trump’s policies, which he described as «pro-business and pro-growth,» would benefit the technology services industry both in India and globally. «The government is very pro-business and pro-growth, which helps all of our customers, ultimately benefiting partners here in India and worldwide,» Premji said, highlighting the potential for tax cuts and deregulation to positively influence business activities. This optimistic outlook follows a period of uncertainty for India’s IT companies, many of which have faced challenges as clients reduced spending on discretionary projects due to ongoing macroeconomic issues and inflationary pressures. Premji suggested that Trump's focus on corporate tax reductions and easing business regulations could help stimulate customer spending and contribute to growth in the sector.

Himachal Pradesh Tourism Development Corporation with poor occupancy were ordered to be shut down by the high court on Tuesday. A single-judge bench of of Justice Ajay Mohan Goel said that HPTDC properties should be shut by November 25 and directed that the managing director of the corporation would be personally responsible to ensure the enforcement of the order. The properties were being closed as they are financially viable, the court said, adding that public resources should not wasted by the HPTDC in the upkeep of «these white elephants». The Palace Hotel (Chail), Hotel Geetanjali (Dalhousie), Hotel Baghal (Darlaghat); Hotel Dhauladhar, Hotel Kunal Dharamshala and Hotel Kashmir House (Dharamshala); Hotel Apple Blossom (Fagu), Hotel Chandrabhaga (Keylong), Hotel Devdar (Khajiar), Hotel Giriganga (Kharapatthar), Hotel Meghdoot (Kiarighat), Hotel Sarvan (Kullu); Hotel Log Huts, Hotel Hadimba Cottage and Hotel Kunzum (Manali); Hotel Lihagsa (Mcleodganj), The Castle (Naggar) and Hotel Shivalik (Parwanoo) will be closed by this Monday, as per the order.

power outages, and dangerous weather conditions. Known as a “bomb cyclone,” the storm intensified rapidly, bringing powerful winds and heavy rain to Washington, Oregon, and California.

As teams gear up for the IPL 2025 mega auction, selecting the right Indian batters will be critical. While consistency is key, in T20 cricket, even a quickfire 20-30 runs off 10 deliveries can tilt the game. Teams will likely be on the lookout for players who may not be technically perfect but can hit the ball out of the park at will — the hallmark of T20 cricket. Here’s a look at five Indian batters who are likely to be highly sought after in the IPL auction: KL Rahul

Moscow has reacted furiously to a decision by US President Joe Biden to change policy on Ukraine and allow Kyiv to use US-supplied long-range missiles to strike Russian territory for the first time. On Tuesday, Putin signed a decree that enables Moscow to use nuclear weapons against non-nuclear states such as Ukraine if they are supported by nuclear powers.