UPS Financial News

BENGALURU : Reliance Retail-backed Dunzo has laid off 150 employees in a fresh round of layoffs, leaving the e-commerce delivery firm with just 50 employees in its core supply and marketplace teams, two people aware of the development told Mint. The Bengaluru-based firm is looking to claw back profits to pay off liabilities including salaries of current and former employees as well as vendor payments as it scouts for capital to survive, they added, requesting anonymity. In May, Mint reported that Dunzo was in the final stages of closing a funding round of $22-25 million in a mix of equity and debt from a clutch of new and existing investors, attempting to “find safety for the company into perpetuity".

MoU (Memorandum of Understanding) with search giant Google to set up the 'Tamil Nadu AI Labs' in Chennai. The MoU was signed as part of the TN CM MK Stalin's 17-day visit to the United States to garner fresh investments. «Say hello to what I would like to call 'Chenn.ai,'» Industrie Minister Dr TRB Rajaa said in a post on X (formerly Twitter). «With this partnership we aim to skill 2 million youngsters in AI via Naan Mudhalvan, collaborate with startups, and enable MSMEs and the rural economy. We want our youth to be a future-ready workforce.»

Indian IPO market has witnessed a notable upswing recently, driven by strong market sentiments and robust macro environment. In the upcoming week, two companies are gearing up to launch their IPOs, one in the mainboard and the other in the SME segment. In the mainboard segment, the public offer of Gala Precision Engineering will open for subscription next week, while Jeyyam Global Foods will unveil its IPO for investors in the SME space.

Reasons to buyReasons to avoidThe BST Back Support Gym Cycle with Seat Twister is designed to provide comfort and support during workouts. It features a back support seat and a twister for added flexibility.

Andhra Pradesh as the low-pressure system over Bay of Bengal intensified into a depression. «Continuous light to moderate rains would prevail. Heavy to very heavy rains are most likely today over many districts of Andhra Pradesh,» a Met Department official said. The well marked low-pressure area over west central and adjoining northwest Bay of Bengal off north Andhra Pradesh and South Odisha moved west and northwestwards to intensify into depression by 5:30 am on Saturday, it said. Currently located near latitude 17.5 degrees north and longitude 84.5 degrees east, the weather system is likely to move further west and northwestwards to cross north Andhra Pradesh and adjoining south Odisha coasts between Visakhapatnam and Gopalpur, close to Kalingapatnam around midnight Saturday.

A French oil giant is paying $100 million to keep American trees standing. TotalEnergies is purchasing carbon credits that cover timberland in 10 states ranging from the Louisiana lowlands to the Lake States, the Adirondack Mountains in New York and the Appalachian Mountains in West Virginia and Kentucky. The outlay is likely the largest ever in the opaque market designed to forestall tree harvesting in the U.S.

Amazon Best Deals: Transform your space and avail up to 70% off on the best selling mattresses, beds and chairsThe quality of your mattress directly affects your sleep quality and overall well-being. Mattresses are available in several types, including memory foam, innerspring, and hybrid models. Memory foam adapts to your body’s shape, providing excellent pressure relief and support.

₹54,999), and while it’s all about achieving near-pristine air quality levels, it’s also the most refreshing take on air purifier design I’ve seen in a long while. Call it a homage or inspired design, the Hive takes several cues from the ‘Aluminum era’ industrial design of Apple products, most notably the ‘cheese grater’ Mac Pro – the use of aircraft grade aluminum in a familiar space gray color, for instance. It’s a gorgeous piece of kit, looking quite at home in my living room, although it may be too industrial for classic/vintage home décor.

Japan’s Defense Ministry has sought a record 8.5 trillion yen or $59 billion budget for the next year to fortify its deterrence on southwestern islands against China’s increasing threat

SpaceX to restart launching its stalwart Falcon 9 rocket, as a probe continues into a rare mishap this week during a first-stage booster landing. The Federal Aviation Administration (FAA) grounded the Falcon 9 rocket on Wednesday after a first-stage booster tipped over and exploded while attempting to land on a droneship off the Florida coast. The early morning launch was otherwise successful, delivering the latest batch of 21 Starlink internet satellites into orbit.

Sebi proposes mandate for regulated entities to maintain stakeholder communication records “It has been observed that merchant bankers are engaged in private placement activities pertaining to unlisted companies, advisory services for projects and syndication of rupee term loans, which are outside the domain of SEBI," the paper said. Arguing that such activities pose significant regulatory and systemic risks, the regulator proposed an overhaul of its regulations governing merchant bankers. Sebi’s paper clarified that merchant bankers—excluding banks and public financial institutions—will undertake only those activities that are related to the securities market and fall under Sebi’s jurisdiction.

Mamata Banerjee's leter on August 29 is factually incorrect and is a step to cover up delays in setting up fast track special courts for rape cases. In a letter dated August 30, Union Minister for Women and Child Development, Annapurna Devi, said that West Bengal has established 88 Fast Track Courts (FTCs), which are not the same as the Fast Track Special Courts (FTSCs) covered under the Central Government Scheme. «The FTCs are set up and funded by the State Governments in consultation with the concerned High Courts to handle a broad spectrum of cases such as civil cases involving senior citizens, women, children, disabled persons, litigants affected by HIV-AIDS and other terminal illnesses; and civil disputes related to land acquisition and property/ rent disputes pending for over five years including cases of heinous crimes. In the FTCs in West Bengal, a total of 81,141 cases were pending as on 30.06.2024. On the other hand, Fast Track Special Courts (FTSCs) are specifically dedicated to deal with Rape and POCSO Act cases. lnspite of pendency of 48,600 rape and POCSO cases in West Bengal, the State has not operationalized additional 11 FTSCs which may be exclusive POCSO Courts or combined FTSCs dealing with both Rape and POCSO cases, as per the State's requirement,» she added.

equity indices closed at all-time highs on Friday tracking continued gains in the rest of Asia, the market ending on a positive note in August after witnessing sharp swings for most of the month. The Nifty gained 0.3%, or 83.95 points, to close at 25,235.9. The Sensex rose 0.3%, or 231.16 points, to close at 82,365.77. Analysts expect the indices to gain up to another 2% on technical factors but warn against betting on one-sided moves in the near term amid continued concerns that parts of the market might be overheated. The outcome of the rate-setting meetings of US Fed and the Bank of Japan scheduled in September will determine the market direction next month.

April Fool and the 1965 classic Waqt, featured the elegant-looking Standard Herald. Sadly, its launch coincided with labour troubles at the plant and a decline in demand. By this time the founder had handed over the running of the company to his granddaughter’s husband, C.V.

Adani Group can double its debt exposure to the domestic capital markets to 10% of the conglomerate's total loans so long as the instruments used to raise funds mature within five years, said the group's chief financial officer, Jugeshinder Singh. Indian capital markets currently account for about 5% of Adani Group's total outstanding borrowings, or ₹12,404 crore, as of March-end, 2024.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Mint. Earlier, the Central Consumer Protection Authority (CCPA), a regulatory body established under the Act, had helped facilitate refunds totalling ₹1,453 crore on air tickets booked via travel aggregators such as Yatra, MakeMyTrip, ClearTrip, EaseMyTrip, Ixigo and Thomas Cook, as Mint reported on 10 March.

Kamala Harris for the upcoming US elections 2024, and the reasons for the same are very clear as there are certain issues in Hollywood, that they are looking up to Harris to resolve, if she is voted to power.

Tim Walz will be seen more often in orange. The Democratic vice presidential nominee, Walz, is going pheasant hunting wearing a bright vest. Democrats claim that for years, they virtually gave former President Donald Trump all of the rural counties and even some of the suburbs. Since 2016, rural counties in states like Wisconsin and Nevada have become deeply red areas associated with President Trump, making them nearly impossible for the left to penetrate. Promoting Walz's Midwest origins, military service, labor connections, hunting experience, and football coaching career, Harris campaign officials feel they have an edge over white moderate and blue-collar voters, to whom Harris may have a softer appeal. Using her experience as a prosecutor and the narrative that she created about being the immigrant daughter who worked at McDonald's before moving up the ranks to become vice president, Harris has also made a signal to those voters.

Verlinvest, investment vehicle of the Belgian family behind the world’s largest brewer, AB-Inbev, is poised to invest Rs 200 crore (about $24 million) in Blue Tokai Coffee Roasters, at a Rs 1,200-crore ($143 million) valuation — double that from a year-and-a-half ago, said people in the know. Existing investor Hemendra Kothari’s family office and Anicut Capital are also expected to join the homegrown specialist coffee chain’s Rs 250-crore round, with the residual amount comprising a mix of primary and secondary sale of shares, the people said. The round will be the 11-year-old company’s largest raise, as a battle brews between some of India’s top business houses and upstarts.

Stocks on Wall Street bounced back from a midafternoon fade Friday, and the market closed out its fourth straight winning month with solid gains