BUSINESS
US Declines $900 Million Subsidy Proposal for Musk's Starlink: Government Rejects Funding for Cheaper Internet Service
The FCC determined that funding Starlink's proposed networks would not be the best use of limited Universal Service Fund dollars for bringing broadband to unserved areas in the US. Starlink's technology was deemed "still developing" last summer, requiring users to purchase a $600 dish.
X Corporation, Led by Musk, Anticipates Steep Decline in Ad Revenue, Projections Show Half a Billion Shortfall This Year
The company, purchased by Musk for $44 billion, is grappling with the departure of major advertisers, including Disney, Apple, and Walmart, after Musk endorsed an antisemitic post. Musk has warned that an advertiser boycott could lead to the platform's failure.
Cooling inflation in US might enable Fed to pause any further rate hike
The US government said that prices for consumers inched higher in November, but the pace of inflation continued to slow down from last year, media reports said.
SpiceJet Board Approves Capital Infusion of Rs 2,250 Crore
SpiceJet's Chairman and Managing Director, Ajay Singh, sees this capital raise as significant for strengthening the airline's financial position, enhancing operational capabilities, resolving outstanding issues, and positioning the airline for sustained growth in the aviation sector. Singh expresses confidence in achieving the goal of building a world-class airline in India through this capital infusion.
Cooling inflation in US might enable Fed to pause any further rate hike
The US government said that prices for consumers inched higher in November, but the pace of inflation continued to slow down from last year, media reports said.
Gadkari Highlights India's Construction Sector as Third Largest in Ranking
Additionally, Gadkari endorsed precast concrete as a sustainable substitute and encouraged industry collaboration for the use of sustainable materials and alternative fuels. The 5-day CII EXCON 2023, South Asia's largest construction equipment trade fair, includes over 1,000 exhibitors and attracts global participation.
Ashneer Lodges Allegations of Oppression and Mismanagement at BharatPe, Initiates NCLT Action Against the Company
BharatPe, in response to an FIR filed by Delhi Police's Economic Offences Wing, accused Grover of tweeting defamatory statements, adding to an ongoing defamation suit seeking damages of Rs 88.67 crore.
Adar Poonawalla Seals London's Priciest Home Sale of the Year in Deal
Serum Life Sciences, a UK offshoot of Poonawalla's Serum Institute of India, orchestrated the acquisition.
Modi Govt Most Likely to Retain Power In 2024 General Elections: Fitch Ratings
Fitch underscores its belief that continuity is likely for both India and Bangladesh during their respective elections.
Adani Ports to raise Rs 5,000 crore via non-convertible debentures
The primary objective behind this capital influx, as articulated by the Gautam Adani-led firm, is to primarily allocate these funds towards the refinancing of its current debt obligations.
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