Business

Jio Financials Makes Strong Debut, Shares List at 31% Premium to Issue Price

The demerged financial services unit of Reliance Industries Limited saw its share price at a higher-than-expected value of Rs 261.85 during a particular trading session held on Thursday. The new entity, Jio Financial Services Ltd (JFSL), was valued at a much higher level than analysts expected it to be priced at, ranging from around Rs 160 to Rs 189 per share. It is a...

Ford Slashes Prices on Electric F-150 Lightning Pickups, Making Sustainability More Accessible

In a significant move towards sustainable transportation, Ford Motor Company has recently announced a substantial price reduction on its highly anticipated electric F-150 Lightning pickups. The decision to cut prices by as much as $10,000 is a strategic step by Ford to make electric vehicles (EVs) more accessible to a wider consumer base. This article delves into the implications of this move, highlighting the...

Senator Warren, Others Warn of Antitrust Concerns Over L3Harris-Aerojet Deal

U.S. Senator Elizabeth Warren, a Democrat, and frequent merger critic, joined three other lawmakers on Tuesday to urge the Defense Department to thoroughly review defense contractor L3Harris Technologies' (LHX.N) $4.7 billion deal for Aerojet Rocketdyne Holdings (AJRD.N). The Defense Department is influential with the antitrust agencies on approving deals that touch on military issues and often takes too soft an approach, Warren and the...

Tesla to Hit Record Quarterly Sales in China

Tesla (TSLA.O) is set to hit another record quarter with its China sales even as it faces mounting pressure from local competitors such as BYD, eating into its share in the world’s largest auto market, analysts say. The U.S. automaker could sell 155,000 cars in China from April to June, an increase of 13% from its record first quarter, according to estimations by Shi...

E-Commerce shipments Would Lose US Tariff Exemption Under the Proposed Law

Several e-commerce sellers would lose a tariff exemption widely used to send orders from China to U.S. shoppers under a bill that a bipartisan group of lawmakers plans to introduce on Wednesday, one of its sponsors said. The de minimis rule exception exempts imports valued at $800 or less from duties if the items are shipped to individual consumers. The new law would ban...

GM Could Reap Billions by Building Combustion Trucks and SUVs Through 2035

General Motors (GM.N) has signaled in recent announcements on plant retoolings that it plans to keep its most significant and most profitable combustion trucks and SUVs in production longer than expected - another 10 to 12 years, according to analysts and suppliers, that could enable the automaker to reap tens of billions of dollars in additional profit. That’s an important stepping stone for GM...

Unleashing Compassion and Empowerment: An Exclusive Interview with Alexander Soros

In the realm of philanthropy, there are individuals whose dedication and compassion uplift communities worldwide. One such exemplary figure is Alexander Soros, an American philanthropist known for his unwavering commitment to addressing social issues and promoting positive change. In this exclusive interview, we delve into the inspiring journey of Alexander Soros, exploring his motivations, initiatives, and vision for a better world. Q: Thank you for...

SEC Takes Legal Action: Binance and CEO Changpeng Zhao Face Lawsuit for U.S. Securities Violations

The Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, the world's largest cryptocurrency exchange, and its CEO, Changpeng Zhao, alleging that the company engaged in illegal trading and failed to register as a securities exchange. The SEC's complaint alleges that Binance operated an unregistered securities exchange in the United States from 2017 to 2021. During that time, Binance allegedly allowed U.S. residents...

Atomic Wallet Breach: Massive Crypto Heist Results in $35 Million Stolen

A popular cryptocurrency wallet called Atomic Wallet was hacked on June 2, 2023, resulting in the theft of over $35 million worth of cryptocurrency. The hackers exploited a vulnerability in the wallet's code to gain access to user accounts and steal their funds. Atomic Wallet is a non-custodial wallet, which means that users have complete control over their private keys. This makes the wallet more...

Bitcoin Rises Above $27,000, Litecoin and Tron Up 2%

The cryptocurrency market was mixed on Tuesday, with Bitcoin (BTC) trading above $27,000 and Ethereum (ETH) holding steady at around $2,000. Other major cryptocurrencies were also mixed, with Litecoin (LTC) and Tron (TRX) rising over 2%. Bitcoin has been on a downward trend since reaching a high of $69,000 in November 2021. However, the cryptocurrency has shown signs of resilience in recent weeks, and it...

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