Articles for author: Market News

September 5, 2024

Verizon plans to acquire Frontier Communications for billion, aiming to enhance its fiber internet footprint and compete against rivals.

Verizon plans to acquire Frontier Communications for $20 billion, aiming to enhance its fiber internet footprint and compete against rivals.

Verizon is set to acquire Frontier Communications for $20 billion in an all-cash deal, announced on Thursday. This strategic move aims to expand Verizon’s subscriber base and enhance its competitive edge against rivals AT&T and T-Mobile, which offer extensive unlimited plans and bundled services. Verizon has proposed $38.50 per share for Frontier, a 37.3% premium ...

September 5, 2024

Market News

Business

Corporate elites, drawn to the costly allure of padel and pickleball, are transforming India’s athletic landscape amidst luxury and competition.

Padel and pickleball are gaining popularity among India’s corporate elite, but they come with a hefty price tag. For instance, a high-quality pickleball racquet can cost as much as Rs 45,000, and building a court may set you back over Rs 10 lakh. This trend is highlighted by the presence of a padel court on ...

September 5, 2024

Market News

Business

Max Ventures divests 3.18% stake in Max Financial Services for ₹1,218 crore, reducing promoter shareholding dramatically amid market fluctuations.

Max Ventures Investment Holdings, a promoter of Max Financial Services Ltd (MFSL), recently sold a 3.18 percent stake in the company for Rs 1,218 crore through an open Market transaction. This sale involved the disposal of 11 million shares at an average price of Rs 1,107.37 each. Following this transaction, the combined shareholding of the ...

September 5, 2024

Market News

Business

Government ITIs excel in new grading, boosting employment prospects and skills training for millions, signaling a brighter future.

Industrial Training Institutes (ITIs) in India have shown improved performance, signaling better employment prospects for students. In the latest grading by the Ministry of Skill Development and Entrepreneurship, nearly 19% of approximately 15,000 ITIs scored above 8 out of 10, up from 12.4% last year. The highest scorers, with grades of 9.6, are located in ...

September 5, 2024

Market News

Business

Sahara Group faces urgent Supreme Court directives to deposit ₹1,000 crore or risk losing valuable Mumbai land in ongoing legal turmoil.

The Supreme Court has ordered the Sahara Group to deposit Rs 1,000 crore into an escrow account within 15 days and is allowing them to form a joint venture to develop their Versova land in Mumbai. This is part of a broader effort to ensure the return of Rs 10,000 crore to investors, as mandated ...

September 5, 2024

Market News

Business

The GST Council weighs options to reduce health insurance taxes, potentially aiding affordability while impacting government revenue significantly.

The GST Council is set to discuss four proposals to alter the tax treatment of health insurance during its upcoming meeting. These options stem from a request to reduce taxes on health insurance products, aiming to make them more affordable. The proposals include fully exempting all health insurance premiums, cutting the GST rate from 18% ...

September 5, 2024

Market News

Business

Trade Minister Piyush Goyal advocates for a border adjustment tax to protect India’s steel industry from predatory imports and boost production.

Trade Minister Piyush Goyal recently proposed a border adjustment tax (BAT) to protect India’s steel industry from cheap imports. Speaking at a steel conclave, he emphasized the need for this tax to level the playing field, as Indian producers face higher costs due to local taxes. However, some experts suggest that BAT might only slightly ...

September 5, 2024

Market News

Business

Sanlam ventures into India’s wealth management, seizing growth amid economic transformation, as its profits soar on strategic partnerships.

Sanlam Ltd., Africa’s largest insurer, is set to expand into India’s rapidly growing asset and wealth management sector. Building on its initial partnership with Shriram Capital Group established in 2005, Sanlam plans to launch a joint venture that focuses on wealth and advisory services. CEO Paul Hanratty highlighted that many Indians are starting to save ...

September 5, 2024

Market News

Business

Amidst the complexities of EV charging, unexpected delays turn a family road trip in Wyoming into a frustrating adventure.

Electric vehicle (EV) drivers often face unexpected challenges at charging stations, especially in places like Wyoming. A recent experience highlighted how advertised charging speeds can be misleading, as a Rivian SUV struggled to get a full charge from a station promising 350 kW, ultimately slowing a planned road trip by two hours. Factors like varying ...

September 5, 2024

Market News

Business

Mercedes-Benz India unveils the Maybach EQS 680 SUV, aiming for top five luxury markets amid a growing electric vehicle landscape.

Mercedes-Benz India is focusing on expanding its Maybach brand, aiming to position India among the top five markets for Maybach sales. Recently, the company launched the all-electric Mercedes-Maybach EQS 680 SUV, starting at Rs 2.25 crore. CEO Santosh Iyer emphasized the brand’s strategic importance and projected growth potential in the luxury segment, highlighting that they ...