Mint New Delhi - February 13, 2025

In this issue

February 13, 2025

Business schools see placements pick up this year

Median pay had stagnated or, in some cases, even dipped for the batch of 2024 versus the one that graduated in 2023.

3 mins

Donald Trump Advisers Eye Bank Regulator Consolidation

Trump administration officials are discussing plans to curtail and combine the power of banking regulators—without Congress’s input.

3 mins

ITC Taps Orkla to Acquire MTR, Eastern for $1.4 Billion

If deal does not go through, Orkla India will press ahead with public issue plans

3 mins

Blackstone, Two Others Eye 51% in Gland Pharma

Global private equity firms Blackstone, Brookfield and Warburg Pincus are in talks to acquire a majority stake in Hyderabad-based Gland Pharma Ltd from China's Shanghai Fosun Pharmaceutical Co. Ltd in a deal expected to value the firm at nearly $3 billion, three people with knowledge of the development said.

2 mins

Fake drug crackdown may net chemists, wholesalers

In the battle against fake drugs, chemists and wholesalers have always been spared the whip. May be not for long.

3 mins

India May Pause E-comm Policy as Trump's Entry Spurs Caution

India's proposed comprehensive e-commerce policy that has drawn strong interest from global entities such as Amazon and Walmart may be put on the back-burner, two people aware of the matter said, as countries pause and reassess priorities in the wake of an eventful regime change in the US.

2 mins

IOCL, BPCL to sign LNG purchase deals with Adnoc

Two of India's biggest state-run oil companies will this week sign agreements to buy liquefied natural gas (LNG) from Abu Dhabi National Oil Co., (Adnoc) as the world's most populous nation looks to secure long-term supplies to meet growing energy demand.

1 min

Retail inflation at five-month low in Jan

The Index of Industrial Production rose 3.2% in December, down from 5% the previous month

2 mins

NHA Plans U-WIN Integration With Immunity Scheme

The National Health Authority (NHA) has asked the health ministry to integrate the Universal Immunization Win (U-WIN) platform with the Unified Health Interface (UHI).

1 min

Energy to be strong component of India-US ties, says oil minister

With prime minister Narendra Modi set to meet US president Donald Trump, petroleum and natural gas minister Hardeep Singh Puri said energy will continue to be a very strong component of the India-US relationship and he is hopeful about the bilateral energy issue figuring in the prime minister's deliberations.

1 min

New income tax Bill to use formulas over definitions

Term 'tax year' to be introduced to specify year of earning income for which liability is computed

2 mins

ONGC-NTPC JV seals ₹6,600 cr Ayana deal

The sale will rank among the largest deals in India's green energy space

2 mins

Market meltdown may shrink startup IPOs and valuations

More than two dozen startups may go public in the coming months, including potential billion-dollar issues

2 mins

Prudential Plc eyes listing of ICICI Prudential AMC

AMCs were investor favourites during the bull run, but the recent market correction has flipped the script

1 min

Low input costs, truck demand lift Leyland's Q3 profit

Ashok Leyland, India's second-largest maker of commercial vehicles, beat Street estimates to post its highest-ever profit for the December quarter on the back of lower input costs and a resurgence in demand for trucks during the quarter.

1 min

SC Extends Danny Gaekwad's Religare Bid Window

The Supreme Court Tuesday permitted US-based Digvijay 'Danny' Gaekwad to deposit ₹600 crore by Thursday 2 pm in an account designated by the Reserve Bank of India (RBI).

1 min

Nykaa's challenges: Revive fashion biz, improve margins

Staying steady

1 min

Select Wins in Mumbai Realty

On solid ground

2 mins

SC Probes Sahara's Versova Land Sale Rights

The Supreme Court (SC) on Wednesday sought a response from the Maharashtra government on the environmental status of debt-ridden Sahara Group's 106-acre Versova land in Mumbai.

1 min

RBI allows Kotak to onboard online, credit card customers

Regulator grants relief 10 months after its embargo cited deficiencies and non-compliance

2 mins

Banks bet on personal loans despite signs of rising stress

Lenders to expand high-yield portfolio even as growth slows; focus on salary account holders

3 mins

US court puts on hold trial in Cognizant-L&T bribery case

Move follows US prez's executive order halting enforcement of Foreign Corrupt Practices Act

2 mins

Greenpac's review plea in HNGIL case

Sanitary ware and glass container manufacturer AGI Greenpac sought a review of the Supreme Court's January ruling that quashed the approval of AGI's resolution plan for the bankrupt Hindusthan National Glass & Industries Ltd (HNGIL), citing failure to get prior permission from the Competition Commission of India (CCI).

1 min

Jubilant Q3 profit drops 35%, hurt by rising costs

India's Jubilant Foodworks reported a nearly 35% fall in quarterly profit on Wednesday, with Domino's Pizza franchise's margins dented by higher expenses amid accelerated store expansion and elevated food costs.

1 min

America's Most Famous Stock-Market Measure Is More Broken Than Usual

The Dow has always been flawed, but it held on to its status as the iconic gauge of American stocks because a mix of luck and design meant it mostly matched the broader market. No longer.

3 mins

Elon Musk Defends Cost-Cutting Efforts in Oval Office Appearance

Trump Signed an Executive Order Giving DOGE More Authority to Reduce the Size of the Federal Workforce

4 mins

Powell says Fed doesn't need to rush on rate cuts

Fed chair outlines paths for 2025: Hold rates if inflation doesn't improve or cut if economy slows more sharply

3 mins

SoftBank Swings to a Loss Ahead of Big AI Bet with OpenAI

SoftBank Group Corp. tumbled to a loss in the December quarter, weighed down by a drop in the value of the Vision Fund's public holdings, just as Masayoshi Son campaigns to raise $500 billion for the Stargate artificial-intelligence project.

2 mins

India, France unveil road map for AI, nuclear partnership

Two sides to work on developing safe, secure AI and building modular n-reactors

2 mins

Maaza becomes billion-dollar brand

Maaza, a desi mango fruit-based drink owned by Coca-Cola, has touched the milestone of becoming a billion-dollar brand in 2024, its chairman and chief executive officer James Quincey has said.

1 min

ChatGPT Didn't Use India Media to Train

OpenAI is seeking to stop Indian media groups, including those of Gautam Adani and Mukesh Ambani, from joining a copyright lawsuit against the US company, saying it does not use their content to train ChatGPT, a legal filing seen by Reuters shows.

1 min

Torrent Buys Stake in Gujarat Titans

Torrent Group is buying the stake from Irelia Co. Pte. Ltd, which is fully owned by CVC.

1 min

NIIF Plans $2 Billion Pvt Credit Venture

India's quasi-sovereign fund is looking to raise as much as $2 billion in its latest private credit fund, chief executive officer Sanjiv Aggarwal said Wednesday, amid rising investor demand for high-yielding debt.

1 min

Macquarie joins Wall Street-led exodus from climate alliance

Macquarie Group Ltd, a major backer of global renewable energy and green investments, has joined banks in the US and elsewhere in quitting the finance sector's top climate alliance.

1 min

US firm Enfabrica starts India ops

US-based fabless semiconductor company Enfabrica Corp. on Wednesday announced the start of its India operations with a new office and research and development (R&D) facility in Hyderabad.

1 min

PFC Q3 profit rises 23% to ₹7,760 crore

State-owned Power Finance Corp. on Wednesday posted an over 23% rise in its consolidated net profit to ₹7,759.56 crore in the December quarter compared to a year ago, mainly on the back of higher revenues.

1 min

Foxconn ready to buy Renault stake

The head of Taiwan's Foxconn said on Wednesday it was open to buying French auto giant Renault's stake in Japan's Nissan after reports last year said it had made an approach for the company.

1 min

Govt Extends Due Date for Schedule M

The government on Wednesday extended the due date for implementation of revised Schedule M—good manufacturing practices provision, for small and medium pharmaceutical firms with turnover of ₹250 crore or less, till the end of this year.

1 min

New norms on fees for IAs, RAs likely

Sebi seeks to reassess the period for which these professionals can collect advance fees.

1 min

I recently received a ₹50 lakh windfall. How should I invest it?

I'm 40 and received a ₹50 lakh windfall. My portfolio is 60% equity mutual funds, with gold and FDs. Should I invest in real estate for diversification with a 15-year horizon, given my retirement and children's education goals?

1 min

MF investors pivot to safety of large-cap stocks

So far this month, Nifty and Sensex are down 2% each, while small- and mid-caps have both lost about 6%

1 min

How To Prepare For Retirement In A World Of Increasing Life Expectancy

FIRE centres on smart strategies and informed investments for lasting financial stability

2 mins

Will RBI's New Move Secure Global Online Transactions?

RBI proposes additional factor authentication to secure international CNP transactions

2 mins

US shock and awe: India must reinforce its shield

The Trump presidency has unsettled core assumptions of the world's future. As peace and prosperity stare at uncertainty, New Delhi should do its utmost to secure Indian interests

2 mins

Trump's climate rollback mustn't slow our green transition down

The economic case for sustainability is clear. A policy reversal in the US should nudge India to strengthen its climate efforts

3 mins

Trump's 'man of steel' posture will make America grate again

Learn from the past: Metal tariffs will injure the US and its allies

3 mins

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