No immediate legal view on SC's telecom AGR call: Govt

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IT cos returning to campuses after gap year

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Analog Devices, Tata Group signs pact to make semiconductors in India

Analog Devices has entered into an agreement with Tata Group for the production of semiconductor products in India. Tata Electronics plans to invest $14 billion to establish a semiconductor fabrication plant in Gujarat and a chip-assembly and testing facility in Assam. The collaboration includes using ADI's products in Tata Motors' electric vehicles and Tejas Networks' telecom infrastructure.

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Sebi modifies framework for valuation of AIFs' investment portfolio

Sebi has modified the valuation framework for Alternative Investment Funds (AIFs), aligning it with mutual fund rules for certain securities. This update follows industry feedback and takes effect immediately. Independent valuers must now belong to registered entities like ICAI, ICSI, or CFA charter. Changes in valuation methods must be disclosed to investors but are not considered material changes.

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Wall Street holds near records after Fed delivers a big cut to rates

Wall Street hovers near record highs as the Federal Reserve initiates a significant interest rate cut to stave off a recession. The S&P 500 remains nearly unchanged, with slight movements in the Dow Jones and Nasdaq. The Fed aims to support the slowing economy and job market while carefully managing inflation risks.

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Michelle Bowman's dissent is first from Fed Governor since 2005

Federal Reserve Governor Michelle Bowman dissented on an interest-rate decision for the first time since 2005, opposing a 50 basis point cut in favor of a quarter-point reduction. Her stance reflects concerns about easing too quickly and highlights ongoing internal debates within the Fed over monetary policy amidst economic challenges.

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US Federal Reserve cuts interest rates by 50 bps in key FOMC meet chaired by Jerome Powell

US Federal Reserve Meeting: The US Federal Reserve has cut interest rates by 50 basis points, the first reduction in over four years, aiming to reverse restrictive economic conditions. Policymakers expect further rate cuts, targeting a range of 4.25%-4.50% by year-end as inflation nears the 2% goal and unemployment rises.

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Subhadra first govt scheme to offer digital rupee payment

Subhadra Yojana in Odisha provides women with Rs 10,000 annually in Central Bank Digital Currency (CBDC). Launched by PM Narendra Modi, the scheme ensures direct deposits into beneficiaries' bank accounts without intermediaries. Linked to RBI's digital currency pilot, the digital rupee can be spent using UPI QR codes or transferred to bank accounts.

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AR glasses are here: Snap launches spectacles at LA summit and its own OS to power it

Snap Inc introduced its fifth-generation AR spectacles at the Snap Partner Summit in Los Angeles. These lightweight glasses feature a new OS, hand gesture controls, and virtual console capabilities. Initially available to developers for $99 monthly, they promise advanced AR experiences with partnerships including OpenAI, Lego Games, and Niantic.

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Will controversy: Baba Kalyani refutes brother’s claims

Baba Kalyani, chairman of Bharat Forge, disputes his brother Gaurishankar's claims regarding their late mother Sulochana's will. Gaurishankar alleges Baba coerced her into making a favorable 2012 will. The Pune civil court must now assess the validity of both the 2012 and 2022 wills to settle the inheritance dispute.

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Goyal suggests new township for startups as India's answer to Silicon Valley

Commerce and industry minister Piyush Goyal proposed developing a new township dedicated to startups, aiming to create an ecosystem for entrepreneurs and innovators. Partnering with NICDC, he envisions this area as India's own Silicon Valley. Goyal also announced setting up a non-profit entity to consolidate startup initiatives under one roof.

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Kalyani brothers spar over mother's wills in fresh feud

Baba Kalyani and his younger brother Gaurishankar are engaged in a legal dispute over their late mother Sulochana's will. Baba seeks to probate a 2012 will, while Gaurishankar presents another from 2022. The case involves significant assets, including properties and shares in the Kalyani Group, with a court hearing expected next month.

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Inter-dept panel may be set up to ensure compliance by online gaming platforms

An inter-departmental committee is proposed to address the rise of online gaming platforms and ensure regulatory compliance. The GST intelligence wing has acted against 118 domestic entities and identified 658 offshore ones for non-compliance. Legal clarity on a 28 per cent tax rate exists, but enforcement is still difficult.

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Sebi exempts Spice Healthcare from making open offer for SpiceJet shareholders

Sebi has exempted Spice Healthcare from making an open offer to SpiceJet shareholders upon acquiring additional shares, with conditions including a longer lock-in period. SpiceJet also announced new board appointments as it aims to bolster its financial health and meet various obligations.

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Sebi clean chit to NSE, ex-MDs Ramkrishna, Narain and 5 others in co-location case

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Ford drives into India for 3rd time

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E-commerce speeds up to catch up with Quick commerce

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'Will take digital public infrastructure stack to 50 nations'

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Samsung plans 30% global job cuts, MS 650

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Trump's plan to hike tariffs would spike shipping costs, just like in 2018, experts say

US presidential contender Donald Trump plans to hike import tariffs if re-elected, potentially driving up cargo rates and inflation. His proposal includes blanket tariffs of 10% to 20% on most imports and higher rates on Chinese goods. Experts warn this could lead to increased consumer costs and disrupted supply chains.

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JPMorgan eyes Swiss corporate business gains, blockchain boost

JPMorgan Chase is targeting growth in its Swiss corporate banking sector, using blockchain services to attract new clients. The bank aims for increased market share within three to five years, following Credit Suisse's collapse. Serving around 60 large companies, JPMorgan also seeks significant growth among small and medium-sized enterprises in Switzerland.

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Former Byju's staff get I-T notices for 'unpaid' TDS

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Kenyan court halts Adani's proposal for Nairobi airport

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'India not closed to business from China but ...': EAM Jaishankar

External Affairs Minister S Jaishankar stated that India remains open to business with China but emphasized the importance of sector-specific engagement and terms. Following the Galwan clash in 2020, India tightened investment scrutiny. Officials now propose relaxing restrictions in non-sensitive sectors like solar panels and battery manufacturing to enhance domestic production.

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Workers at Samsung's India unit go on indefinite strike

Samsung India's employee union alleges that the company is undermining their labour union by creating a rival one. Approximately 1,500 workers have initiated an indefinite strike due to forced overtime and wage revision issues. The newly formed union is still unregistered. Samsung India executives are expected to hold talks with the workers on Tuesday.

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Gadkari: EVs may not need subsidies in 2 years

Nitin Gadkari, the road transport minister, indicated that electric vehicles could be subsidy-free within two years as their prices are expected to equal those of petrol and diesel vehicles due to declining battery costs. He emphasized consumer choice and highlighted issues related to fuel import bills and pollution from internal combustion engine vehicles.

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SpiceJet's Ajay Singh may sell over 10 pc stake in airline to raise funds

Ajay Singh, chairman of SpiceJet, may sell over 10% of his stake in the airline as part of a funding round aimed at raising up to Rs 3,200 crore. This move seeks to address financial challenges and operational needs. The funding round is anticipated to be completed by the end of September.

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It’s raining IPOs on D-Street. 16 offers eye Rs 9k cr this week

Dalal Street investors will have the opportunity to invest in 16 IPOs next week, aiming to raise nearly Rs 9,000 crore. Bajaj Housing Finance's IPO is the largest at Rs 6,560 crore. Key factors for this surge include substantial investor liquidity and regulatory changes, as noted by Pantomath Capital Advisors.

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MSDE partners with Swiggy to provide skilling, employment opportunities

The Ministry of Skill Development and Entrepreneurship has teamed up with Swiggy to offer skilling and employment opportunities in its food delivery and quick commerce network. This collaboration aims to benefit 2.4 lakh delivery partners and restaurant staff by providing access to online courses, certifications, training modules, and job opportunities through the Skill India Digital Hub (SIDH).

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Forex reserves rise by $2.3bn to record $684bn

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Ather Energy to file Rs 4,500 crore IPO papers next week

Tiger Global-backed Ather Energy is set to file its draft prospectus for an IPO next week, targeting a $2.5 billion valuation. The electric scooter maker aims to raise Rs 4,500 crore through the offering. Facing competition from Ola Electric and TVS Motor, Ather recently joined the unicorn club with funding from NIIF.

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RIL board okays 1:1 bonus share, co’s first in 7 years

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Oil prices lowest since January, create room for price cut

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Outside elements are behind 'toxic culture' plaint: Sebi

Sebi responded to allegations of a toxic work environment, stating that junior officers were influenced by external elements. The complaints, originating from an anonymous email, called for higher pay and automatic promotions. Sebi defended its performance standards and clarified that most employees supported new productivity initiatives.

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Outside elements are behind 'toxic culture' plaint: Sebi

Sebi responded to allegations of a toxic work environment, stating that junior officers were influenced by external elements. The complaints, originating from an anonymous email, called for higher pay and automatic promotions. Sebi defended its performance standards and clarified that most employees supported new productivity initiatives.

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Trai cracks down on spam calls, nearly 2.8L phone nos blocked

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Byju's US lenders dropped from creditor committee

Byju's insolvency case has taken a contentious turn as US lenders and resolution professional Pankaj Srivastava clash. Srivastava removed Glas Trust Company from the committee of creditors, admitting their claim as a contingent liability. Legal proceedings in India and the US are ongoing regarding the validity of Byju's term loan acceleration.

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Government to sell 7% in reinsurer GIC Re for nearly Rs 5,000cr

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Use digital for efficiency, not undue risks: RBI

The RBI fosters digital technologies for inclusion and improved customer experience. However, it intervenes when digital lending creates risks or complex structures. Deputy Governor Swaminathan J highlighted issues with peer-to-peer lending practices at a recent banking summit in Mumbai, urging the industry to view regulations as partnerships for a stable financial ecosystem.

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Rs 250 mutual fund SIPs, single-bourse disclosures for companies soon: Sebi chief

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Individual investors sell half of IPO shares in a week: Sebi

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New-age brands wooing Gen Zs bag VC funding

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Personal loans grow 14% driven by cards & gold

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A lot of garment manufacturing may move to India from Bangladesh: Raymond chief

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