BUSINESS
EU probing $61 bn acquisition of VMware by Broadcom
VMware was acquired by chip and software maker Broadcom from Dell Technologies for $61 billion in May this year.The Commission said it is particularly concerned that the "transaction would allow Broadcom to restrict competition in the market for certain hardware components which interoperate with VMware's software".
Tesla stock tanks to its lowest, Musk blames macroeconomic conditions
Tesla's stock has plunged dramatically since Musk bought Twitter in April this year. Tesla shares are down more than 60 per cent since then, as Musk is busy micro-managing daily affairs at Twitter.
With MCL acquisition, SMEL now plans foray into stainless steel business
Speaking to mediapersons here on Tuesday, SMEL Vice Chairman and Managing Director, Brij Bhusan Agarwal, said the estimated cost of acquiring MCL was Rs 450 crore and with this development, SMEL has embarked on a diversification approach in the metal space to chart the company's growth journey.
Gold, silver prices rise in US, may push domestic bullion rates on Wednesday
Gold prices in the US bullion market rose to $1,823, up by 1.73 per cent and silver prices rose to $24.09, up by 1.03 per cent over previous close, mainly due to long term speculations over rate hikes by US Federal Reserve. The US Federal Reserve is expected to announce another round of hikes in its first meeting in the new year, scheduled for February 1, 2023.
EV sales see spike in India, from 48,179 in 2020-21 to 4,42,901 in 2022-23
Minister of Heavy Industries, Mahendra Nath Pandey, said in a written reply in the Lok Sabha on Tuesday that the ministry has implemented a scheme titled 'Faster Adoption and Manufacturing of Electric Vehicles in India Phase II' (FAME India Phase II) to promote adoption of electric/hybrid vehicles in the country.
Elon Musk actively searching for new Twitter CEO: Report
The report came as Elon Musk said that the US government "paid Twitter millions of dollars to censor info from the public". According to a CNBC report, Musk has been actively searching for a replacement even before posting the poll on Sunday. In fact, that search has been "ongoing", the report added.
Growth momentum to be positive for India: RBI bulletin
"Waning input cost pressures, still buoyant corporate sales, and turn-up in investments in fixed assets are heralding the beginning of an upturn in the capex cycle in India, which will contribute to a speeding up of growth momentum in the Indian economy," the bulletin said.
Bank of Japan maintains rates, widens range of long-term bonds
The BOJ said its yields on the bonds would be adjusted from a range of plus and minus 0.25 per cent to a range of plus and minus 0.5 per cent, reports Xinhua news agency.
Demand for power in India to decelerate in 2nd Half of FY23: Fitch Ratings
According to the credit rating agency Fitch, the demand for power in India grew at 11.3 per cent year-on-year (YoY) during the first half of FY23 due to post pandemic rebound and a low base during 1HFY22.Fitch Ratings expects India's power demand to grow by around eight in FY23 (FY22: 8.2 per cent).
Former FTX CEO Bankman-Fried agrees to be extradited to US
SBF was arrested from his penthouse in the Bahamas last week and has been officially charged by the US authorities with defrauding equity investors.According to the New York Times, a local lawyer in the Bahamas for Bankman-Fried said that against "the strongest possible legal advice," SBF is ready to voluntarily agree to extradition to the US.
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