Pragya Swastik
Several Swiggy users took to X (formerly Twitter) to share screenshots of their food bill, complaining that there was a difference of about ₹3 between the bill total and the amount they were charged. "We confirm no customer have been overcharged and they have paid the correct amount," Swiggy told Moneycontrol. "This was due to a tech bug," it added.
Sep 21st, 2023
Pragya Swastik
Net financial savings of Indian households in FY23 plunged to 5.1% of GDP from 11.5% in FY21, a 50-year low, SBI Research showed. Indebtedness more than doubled to ₹15.6 lakh-crore from FY21, primarily led by massive borrowings from banks. Notably, household savings are the most important source of funds for two deficit sectors - general government finances and non-financial corporations.
Sep 21st, 2023
Pragya Swastik
Glenmark Pharma has agreed to divest a 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited for ₹5,652 crore (₹615 per share), implying an equity valuation of ₹7,535 crore. Glenmark Pharma will continue to own 7.84% of Glenmark Life Sciences. The transaction is subject to customary conditions precedent, including receipt of regulatory and shareholder approvals.
Sep 21st, 2023
Sakshita Khosla
International media mogul Rupert Murdoch has announced that he is stepping down as the Chairman of Fox Corporation and News Corporation. The move will reportedly be effective from November. The 92-year-old will be appointed Chairman Emeritus of both companies and his son Lachlan Murdoch will become their sole Chairman, reports said.
Sep 21st, 2023
Pragya Swastik
Apoorva Mehta, a 37-year-old former Amazon engineer who started American grocery delivery startup Instacart from his kitchen 11 years ago, made an over ₹9,100 crore exit after Instacart's IPO. "My empty refrigerator was an ongoing problem...and a source of inspiration...I could shop for everything online except groceries," Mehta said. His parents immigrated from India to Libya and then to Canada.
Sep 21st, 2023
Disha Jana
International Monetary Fund (IMF) chief Kristalina Georgieva has urged Pakistan to collect more taxes from the wealthy and protect poor people amid the country's economic crisis. "I...believe this is in line with what people in Pakistan would like to see for [themselves]," she added. The IMF lent Pakistan $1.2 billion in July as part of a $3 billion bailout deal.
Sep 21st, 2023
Pragya Swastik
Jatin Pravinchandra Dalal has resigned as Wipro's Chief Financial Officer (CFO). "At this juncture of my career, I'm eager to pursue my professional goals outside the organisation," Dalal said. Aparna lyer, a gold medallist CA who was recently appointed as the CFO of Wipro's FullStride Cloud Global Business Line, will succeed Dalal as Wipro's CFO.
Sep 21st, 2023
Ridham Gambhir
Kiwi Camara, 39, is the youngest-ever graduate of Harvard Law School, getting his degree at the age of 19. Camara reportedly spoke to Warren Buffett about his stock portfolio at the age of six and wrote a scientific paper at the age of 11. He is said to hail from a family of geniuses from the Philippines.
Sep 21st, 2023
Ashley Paul
Lawyers from four firms who sued Tesla's board for overpaying themselves, forcing them to return over $700 million, are now seeking $229-million fees. The law firms estimate total settlement value at $919 million and are seeking 25% of that as fee, which translates to $10,690/hour. Reacting to the news, Tesla owner Elon Musk said, "Fate loves irony but hates hypocrisy."
Sep 21st, 2023
Ashley Paul
Finance Ministry dismissed criticism over declining household savings' impact on economy and said, "Changing consumer preference for different financial products is the real reason for [decline in] household savings and there's no distress." "It's important to note that [households'] overall net financial assets are still growing," it said. Households are taking loans to buy real assets, it added.
Sep 21st, 2023
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