Updates Financial News

03.03 / 09:05

markets COST Aviat Airlines reports Updates International Crude soars, airspace shut: Why IndiGo’s margins are back under pressure

markets are closed on Tuesday for a public holiday.Brent crude, which hovered around $60 a barrel in early January, climbed to $72 by 25 February on expectations of military action against Iran. Since the conflict began, prices have surged to about $78.

03.03 / 08:11

markets Provident DOW Google security Department Updates Mint Explainer: Does US-OpenAI deal signal trouble for Indian startups?

OpenAI, the creator of foundational artificial intelligence behind ChatGPT, announced on Friday that it has signed a deal with the Pentagon. It allows the US department of war (DoW), formerly the department of defense, to use the Sam Altman-led company's models in classified environments.That has raised eyebrows and questions over the use of the OpenAI technology stack in India, among the largest markets for AI and the fastest adopter of the technology worldwide.

03.03 / 08:11

markets UPS BLOCK Experts Updates Mint Explainer: How long can Iran block the Strait of Hormuz?

Mint explores the best- and worst-case scenarios.On Monday the Islamic Revolutionary Guard Corps (IRGC), a branch of Iran’s armed forces, announced that the Strait of Hormuz was closed and attacked a few ships passing through it. The announcement quickly caused panic.

03.03 / 08:11

markets Extreme Cycling stage Equality Updates Market cycles and the case for flexible allocation

private equity—rush in to participate.The outcome is predictable. New supply emerges. Competition intensifies.

03.03 / 08:11

COST UPS CEO reports travelers Updates Wipro to lose upto $100mn business as Accenture wins work from cosmetics major Estée Lauder

Wipro Ltd faces an annual dent up to $100 million as American cosmetics brand, Estée Lauder, has shifted the Bengaluru tech services company's share of work in a half-billion dollar, five-year deal to Accenture Plc.This latest development raises questions on chief executive officer (CEO) Srini Pallia's turnaround plan and growth at Wipro, as outsourcers pivot towards generative artificial intelligence, or GenAI, solutions, analysts said.According to four people in the know, Accenture will now handle key IT functions of The Estée Lauder Companies Inc including finance, database management, and back-end management for the New York-based cosmetics company.Early in February, Estée Lauder had announced the Accenture contract but there was no information on that business moving away from Wipro.“In the second quarter, we've established our new Enterprise Business Services, selecting Accenture to transform how we deliver shared services globally as we accelerate the deployment of AI throughout the organization,” said Stéphane de la Faverie, chief executive of Estée Lauder, during the company’s post earnings conference call on 5 February.Emails sent to Wipro and Estée Lauder on Monday went unanswered.Mint learns that much of the work awarded to Accenture was part of a February 2021 deal won by Wipro. The Bengaluru company had reportedly bagged the $500 million contract with Estée Lauder, which was supposed to run for five years.

03.03 / 08:11

UPS FIVE Manufacturing economy show Updates International GDP revamp: Five questions on India's smaller economy, explained in 5 charts

₹345.47 trillion ($3.93 trillion)—3.26% lower than the ₹357.14 trillion estimate published in January under the 2011-12 series.The downward revision stems from those earlier overestimations. In an interaction with Mint, the statistics ministry confirmed that proxy indicators used in the older series had led to overestimations, validating concerns raised by economists, policymakers and researchers for nearly a decade.But the shrinkage is only part of the story.

03.03 / 06:45

markets COST UPS Software country Features Updates Amodei’s ‘exponential’ claims about AI are proving true: Here’s what has already changed

About a month ago, I built my first app. It was a simple speed-reader Chrome extension that is designed to display text one word at a time so I can read an article faster than normal.

03.03 / 06:45

UPS Provident economy Sustainability innovations Updates ADB to channel $1.2 bn into India’s clean transition in 2026

agriculture, with a significant intervention underway in Maharashtra. The state government has structured a large programme that brings in private sector participation on the generation side while farmers remain the primary beneficiaries.

03.03 / 04:53

markets Racing Updates Gulf states in race against time to repel Iran’s counterattack