BUSINESS
Another US regional bank First Horizon's stock tumbles after merger collapses
First Horizon is a regional lender in the southeast United States and would have helped Canada's TD expand south of the border. But regional banks have been losing the confidence of investors and customers since the March collapse of Silicon Valley Bank and Signature Bank.
Tata Electronics to become a key Apple player after Wistron's iPhone plant acquisition
The move will only give a fillip to the government's local manufacturing dream, at a time when iPhone exports from the country surged to cross $5 billion (over Rs 40,000 crore) in FY23. Wistron's factory in Karnataka, that employs about 12,000 people, constitutes a major chunk of its business in the country.
Passengers left in lurch in Jaipur after cancellation of Go First flights
On Tuesday, the airline had said that it has filed for insolvency resolution as it can no longer continue to meet its financial obligations, blaming US company Pratt & Whitney's "faulty engines" for grounding of 50 per cent of its fleet. According to the Jaipur airport administration, the airline had given a letter announcing suspension of flight operations from the airport from May 3 to May 5, which it extended to May 9 on Thursday.
ADB plenary meeting discusses lending-related issues
She aired these views while participating in the Governors Plenary meeting on "Boosting ADB's Lending Capacity" as part of the ongoing 56th ADB annual meeting in Incheon in South Korea. Sitharaman, who participated in the deliberations as Governor for India, expressed hope that the open discussions in the plenary will lead to a common ground and resolve many issues.
Major jump in Indian investments in US, says report
Total US investments in India stood at $59.1 billion. These Indian companies, which include Mahindra, Tata Sons and Tata Consultancy Services, Infosys, and Welspun, are located across all 50 states and Washington DC and Puerto Rico and have made tangible investments in 40 states.
Hacks, exploits cause over $100 mn in crypto losses in April: Report
According to the blockchain and smart contract security company CertiK, the total funds hackers managed to drain in April from crypto projects was $103.7 million, bringing the total year-to-date loss to $429.7 million. Several significant crypto exploits occurred in April, resulting in significant losses in the industry. For instance, there was a $25.4 million loss due to an exploit of multiple MEV trading bots.
Nirmala Sitharaman meets S Korean Deputy PM, seeks investment in manufacturing, RE sectors
Meeting South Korea's Deputy Prime Minister and Finance Minister Choo Kyung-ho on the sidelines of the ADB's annual meeting in Incheon, she emphasised on greater opportunities in India for investments in manufacturing, renewable energy, infrastructure, pharmaceuticals and food processing, including marine resources, among other sectors, official sources said.
Zoho introduces 'Ulaa' web browser with focus on users' privacy
The privacy-centered browser Ulaa (means journey or voyage in Tamil) is equipped with features that allow for privacy customisation, built-in user profile modes, and integrated productivity tools while keeping user data safe and private. Users can also sync browsing sessions between devices - either an entire browser window or a singular tab - allowing them to use multiple devices for the same browsing session seamlessly, the company said in a statement.
Indian bourses end on a positive note on Thursday
"Following a widely expected rate hike by the Fed (US Federal Reserve) and consistent foreign support, the domestic equities resumed its bullish momentum, driven by gains across major sectors," said Vinod Nair, Head of Research at Geojit Financial Services.
Indian startups must boost corporate governance, set norms for G20 nations: Amitabh Kant
Globally, startups have evolved into the catalyst for economic recovery, reorientation and growth driven by innovation. At the sidelines of a think tank conference organised by Nishith Desai Associates and TiE Mumbai recently, Kant reiterated the importance of developing the corporate governance standards for India Inc to go global and establish norms for other G20 countries.
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