Financial News

By Riya Majumder, 23 October, 2019

GE Power India Limited NSE Symbol:GEPIL, BSE Security Code:532309 has informed the stock exchange that, meeting of the Board of Directors of the company will be held on Monday, 4th November, 2019 to consider, approve and take on record the un-audited consolidated financial result of the company for the second quarter (Q2), from the month of July, 2019 to the month of September, 2019 for the fiscal year 2019-20.

By INN, 22 April, 2023

 In some relief for Tesla CEO Elon Musk, jurors in an Autopilot-related 2019 crash in the US have given the verdict in favour of the electric car company.

The jury in the California state court awarded plaintiff Justine Hsu, who sued Tesla in 2020, no damages, reports The Verge.

The jurors found that the Tesla Autopilot software "wasn't at fault in a crash where the car turned into a median on a city street while Autopilot was engaged".

By INN, 22 April, 2023

Sidharth Rao, who co-founded one of India's first and top digital agencies Webchutney, has passed away at the age of 43, according to media reports.

He died on Friday evening. He is survived by his parents and wife.

At the age of 19, he started Webchutney, which was the most-awarded Indian agency at the Cannes Lions International Festival of Creativity in 2019.

By INN, 22 April, 2023

The Punjab National Bank (PNB) on Saturday issued an advisory to its customers related to fraudulent messages being circulated in PNB's name.

The bank said that a fraudulent message stating "PNB's 130th Anniversary Government Financial Subsidy" is being circulated across digital platforms.

"These are fake messages and PNB brand name is being used to perpetuate different forms of fraud. In some cases, these frauds are attempts at identity theft and financial scams," the bank said in a statement.

By INN, 22 April, 2023

The Enforcement Directorate (ED) on Saturday said that they have filed a prosecution complaint before a special PMLA court in Bhubaneswar against Nava Diganta Capital Services Ltd (NDCSL), its group companies Nava Diganta Agro Industries Ltd, Nava Diganta Projects Ltd, Nava Diganta Properties Ltd and their directors Anjan Kumar Baliyarsingh, Pradeep Kumar Pattnaik, Kartikeya Parida, Ramachandra Hansadh, Subarna Naik and Hitesh Kumar Bagartti.

The ED said that the accused also acquired proceeds of crime worth Rs 2.15 crore.

By INN, 22 April, 2023

After facing a backlash, Elon Musk-run Twitter has finally removed "government-funded media" labels on all accounts belonging to traditional publications and digital news outlets.

Twitter has also deleted its web page explaining the "government-funded media" labels, report The Verge.

The micro-blogging platform earlier placed the 'publicly-funded' label to the BBC account and applied the 'government-funded' label to US-based NPR.

By INN, 22 April, 2023

More layoffs were announced this week as global financial consulting firm Deloitte reportedly told its staff that it will cut around 1,200 jobs in the US.

According to a report in the Financial Times, the job cuts at Deloitte will cut 3 per cent of total workforce at its Risk and Financial Advisory division.

Later on Friday, ride-hailing firm Lyft announced to significantly reduce the size of the team "as part of a restructuring to focus on better meeting the needs of riders and drivers".

By INN, 22 April, 2023

Amid job cuts at Google's parent company Alphabet, its CEO Sundar Pichai took home a whopping compensation of nearly $226 million in 2022.

According to the tech giant's filing with the US Securities and Exchange Commission (SEC), Pichaia's compensation included stock awards of about $218 million.

Pichai's salary, however, has remained steady at $2 million for the past three years, according to reports.

By INN, 22 April, 2023

 Elon Musk saw his wealth plummet by more than $12 billion in just a day as he faced chaos and disappointing news from across his companies -- SpaceX, Twitter and Tesla.

According to Bloomberg's Billionaires Index, this was the biggest drop in Musk's wealth so far this year.

Tesla's share price fell by 9.8 per cent after disappointing first quarter results.

Tesla's operating income decreased 24 per cent to $2.7 billion in Q1 2023 as the Elon Musk-run EV maker continues to cut prices of its vehicles.

By INN, 22 April, 2023

The US government is drawing up plans for the eventual use of 6G networks, hoping to give Washington a technological edge in the future amid concerns over Beijings rapid advances in the telecommunications sector.

The White House met with corporate leaders, technology officials and academic experts to develop strategies for upcoming 6G networks on Friday, senior US officials confirmed to multiple news outlets, RT reported.