BUSINESS
Freight rates perk up some more, but diesel singes margins
Over the past 2-3 years, the domestic road freight transportation industry ran into many speed-breakers. The axle load norms caused a discernible drop in fleet utilisation levels in fiscal 2019, while the BS-VI norms led to a 10-15 per cent increase in the prices o f new trucks in fiscal 2020. Then came the Covid-19 pandemic and the sharp economic contraction.
BrightChamps raise $63 mn fresh funding; Premji Invest, Flipkart's Bansal among top investors
Apart from Premji Invest and Flipkart's Bansal, US-based GSV Ventures and Singapore-based venture fund Beenext also participated in the funding round. BrightChamps is a live learning platform that offers next-generation life skills and was founded in July last year by Ravi Bhushan.
Petrol, diesel price rise continues to be on pause after duty cuts
Accordingly, petrol and diesel prices remained unchanged for the fourth consecutive day on Monday under the daily price revision mechanism followed by oil marketing companies. So, the pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on Thursday from previous days level of Rs 110.04 a litre, remains at the same level on Monday. The diesel prices also remained unchanged in the capital at Rs 86.67 a litre.
India's furniture & home market to reach $40bn by 2026: Report
Over the next five years, online furniture and home sales are expected to be growing at a strong 39 per cent CAGR. The online home category includes home decor, furnishings, mattresses and lighting. The online furniture category will foresee 3X growth in shoppers in the next five years with a 1.8x jump in annual spending per shopper.
58% Twitter followers tell Musk to sell 10% of his Tesla stock
The world's wealthiest person had tweeted out a poll over the last weekend, asking his Twitter followers whether he should sell Tesla stock in order to pay more tax. While 57.9 per cent of more than 3.5 million participants had voted "yes," 42.1 per cent voted "no". "Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock," Musk tweeted.
Markets opened on a positive note and turned negative
The Sensex of the BSE opened at 60,385.76 points and touched a high of 60,434.38 points. The Sensex touched a low of 59,979.48 points. The Sensex had previously closed at 60,067.62 points. The Sensex is trading at 59,940.78 points down by 126.84 points or 0.21 per cent. On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 18,040.20 points after closing at 17,916.80 points.
Future Retail independent directors writes to CCI over Amazon's 'evil non-desirable designs'
In a letter to CCI Chairman Ashok Kumar Gupta, the independent directors of FRL on Sunday urged CCI to intervene and stop Amazon's designs to make FRL bankrupt, make the Indian public sector banks write off Rs 30,000 crore, render 6,000 SMEs insolvent and make 50,000 employees and their families jobless.
Chinese aviation industry and tech acquisition by China
Reaching this level of proficiency in the aviation sector has not been easy for China as it has depended significantly on technology acquisition through discrete and unethical channels which has also impacted the image and credibility of Chinese companies and experts operating abroad.
China completes preparations for implementation of RCEP trade pact
China has completed all the necessary plans for implementing committed tariff reductions, adjustments on the rules of origin for goods and software system updates at customs authorities to ensure smooth tariff reductions, said Yu Benlin, Director-General of the Department of International Trade and Economic Affairs with MOFCOM.
'9 of 10 start-ups fail, I'm aiming to rectify that'
With nine out of 10 start-ups failing, Shirish Nadkarni, a serial entrepreneur with 20-plus years of experience in creating consumer businesses that have scaled to tens of missions of users worldwide, challenges that equation in his new book in which he lays down strategic and tactical methods "to change the world".
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