Business & Economy Archives - Page 5 of 21

Centre Halves Windfall Tax on Petrol Exports and Slashes Diesel ATF Levies From June 1

May 31, 2026June 3, 2026Gaurav Thakur

India cuts special additional excise duty on petrol exports to Rs 1.5/litre, diesel to Rs 13.5/litre and ATF to Rs 9.5/litre from June 1. Domestic fuel prices unchanged. [...]

India Power Demand Shatters All Records at 265 GW as Deadly Heatwave Pushes Temperatures Past 48 Degrees Celsius Across Northern India

May 30, 2026June 1, 2026Gaurav Thakur

India’s peak power demand has hit an all-time record of 265.44 GW as severe heatwave conditions persist across northern and central India. Temperatures have crossed 48°C in Uttar Pradesh, with Delhi recording its warmest May night in 14 years. [...]

The AI Cost Reckoning Has Arrived — Microsoft Cancels Claude Code Licenses as Uber Burns Entire Annual AI Budget in Just Four Months

May 30, 2026June 1, 2026Ankit Thakur

Microsoft is cancelling most internal Claude Code licences by June 30, migrating to GitHub Copilot CLI. Uber exhausted its annual AI budget in four months after 92% of engineers adopted AI coding tools. Sam Altman and Dario Amodei now admit their job-loss predictions were wrong. [...]

Delhi High Court Fines Google Rs 30 Lakh in Landmark Trademark Ruling — Hindware Keyword Case Could Reshape Digital Advertising in India

May 30, 2026June 1, 2026Aditi Singh

Justice Mini Pushkarna ruled that Google actively facilitates trademark infringement through its keyword advertising system, imposing a Rs 30 lakh fine and permanently restraining the company from using ‘Hindware’ as an ad keyword. [...]

SpaceX Files for Largest IPO in History at 1.75 Trillion Dollar Valuation as Starlink Revenue Soars to 11.4 Billion

May 30, 2026June 1, 2026Gaurav Thakur

SpaceX has filed its S-1 prospectus with the SEC, revealing $18.7 billion in 2025 revenue and plans to raise $75 billion in what would be the largest IPO ever. The NASDAQ listing under ticker SPCX is expected on June 12, 2026. [...]

Wix CEO Cuts 20% of Workforce Citing ‘AI Revolution’ — 1,000 Jobs Axed as Tech Industry Reshapes Around Artificial Intelligence

May 29, 2026June 3, 2026Anjali K.

Wix CEO Avishai Abrahami announces 20% workforce reduction — approximately 1,000 roles — citing the ‘fast evolution of AI capabilities’ and the strengthening Israeli shekel. The company introduces ‘Xengineer’ and ‘Creator’ AI-native roles as it competes with AI-first platforms like Lovable. [...]

Japan Bans Indian Mango Imports After 20 Years Over Pest Contamination — Zero-Tolerance Policy Hits Alphonso and Kesar Exports

May 28, 2026June 1, 2026Anjali K.

Japan has banned all imports of Indian mangoes after food safety inspectors detected fruit fly larvae in multiple shipments, ending a 20-year-old trade arrangement that had made Alphonso and Kesar mangoes a prized seasonal delicacy in Japanese markets. [...]

Reliance’s Ambani Green Energy Giga Complex Ships First Batch of High-Efficiency Solar Modules from Jamnagar — India’s Clean Energy Push Gets Major Boost

May 28, 2026June 1, 2026Anjali K.

Reliance Industries’ Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat, has delivered its first batch of 200 MWp high-efficiency Heterojunction Technology solar panel modules, marking a landmark moment in India’s push towards domestic clean energy manufacturing. [...]

Supreme Court Upholds 28% GST on Online Fantasy Gaming — Landmark Verdict Could Wipe Out India’s Rs 1 Lakh Crore Online Gaming Industry

May 28, 2026June 1, 2026Rohit Joshi

The Supreme Court delivered a double blow to India’s online gaming industry on Wednesday, upholding the retrospective 28% GST levy on the full bet value for fantasy sports and online gaming platforms, paving the way for tax recovery of approximately Rs 1 lakh crore from around 80 companies. [...]

Byju Raveendran Sentenced to Six Months in Singapore Jail for Contempt of Court — Edtech Founder’s Legal Troubles Deepen

May 27, 2026June 1, 2026Anjali K.

A Singapore court has sentenced BYJU’S founder Byju Raveendran to six months in prison for contempt of court after he failed to comply with asset disclosure orders, marking the latest chapter in the once-celebrated edtech entrepreneur’s dramatic fall from grace. [...]