Ugandan athlete Rebecca Cheptegei is in critical condition after being doused with petrol and set on fire by a former boyfriend in Kenya. The incident occurred at her home in Endebess, where she had been training. Police are investigating the attack, which highlights growing concerns about violence against female athletes in Kenya.
Ultra Media & Entertainment Group has launched two new OTT platforms, Ultra Play and Ultra Gaane, focusing on classic Hindi films and music. The company plans to invest Rs 500 crore over five years in these ventures. Subscription costs are Rs 199 per year or Rs 99 for three months.
Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, plans to file for an IPO to raise ₹2,500 crore. The company owns luxury hotels in India, the Maldives, and Sri Lanka. JM Financial and Kotak Mahindra Capital are appointed for the IPO process.
Bajaj Housing Finance's ₹6,560-crore IPO will be open for subscription from September 9 to September 11, with a price band of ₹66 to ₹70. The offer includes a fresh issue of ₹3,560 crore and an offer for sale of ₹3,000 crore by Bajaj Finance. Proceeds will augment the company's capital base.
Listed companies are increasingly using qualified institutional placements (QIPs) to raise capital. In the first eight months of 2024, 55 companies raised ₹58,400 crore through QIPs. Companies like Vedanta and Adani Energy Solutions have utilized this route for debt repayment and expansion plans. Favorable market conditions make QIPs a preferred fundraising method.
Elton John, 77, revealed on Instagram that he has been recovering from a severe eye infection that left him with limited vision in one eye. He expressed gratitude for the medical team and his family, stating that the healing process is slow but progressing. Numerous celebrities have wished him well.
Vice President Kamala Harris is set to propose a significant tax deduction of up to $50,000 for new small businesses, a substantial increase from current relief measures. This move is part of her broader economic strategy aimed at middle-class Americans and includes taxing wealthier individuals and companies more, along with increased federal funding for child care and social programs for working parents.
Sebi officials have complained to the finance ministry about a toxic work culture under chairperson Madhabi Puri Buch. The letter accuses the leadership of using harsh language, setting unrealistic targets, and monitoring employees excessively. Sebi claims issues have been addressed, but concerns about mental health and work-life balance persist.
X has been blocked in Brazil since last week after Moraes ordered all telecom providers in the country to shut down the social media platform for lacking a legal representative in the country, a decision later upheld by a panel of Supreme Court justices.
Shares of Nvidia plunged 9.5% in a historic single-day decline, shedding $279 billion in market value. This drop reflects investor caution about AI technology amid a broader market selloff following weak economic data. The PHLX chip index also fell significantly, highlighting concerns over the payoff from AI investments.
Domestic markets saw fluctuations on Wednesday but managed to recover losses by the end of the session. Nifty consolidated at a higher zone after hitting a fresh high previously. Analysts expect gradual market growth with sectorial rotation, driven by hopes of a US rate cut and foreign investors turning buyers.
India's Reserve Bank plans to introduce a 'unified lending interface' to expand digital payments into lending. This system aims to help farmers and small businesses access credit more easily. However, there are concerns about the potential impact on household debt, which is already rising.
Happy Wednesday! Zerodha-backed Rainmatter Capital has funded multiple startups in the last two months. This and more in today’s ETtech Morning Dispatch.
Stocks in news: Domestic markets remained steady with minor changes, continuing a gradual uptrend. Key stocks in focus include General Insurance Corp, ONGC, SpiceJet, GSK Pharma, and Cipla due to various developments. Notable updates include the government's stake sale in General Insurance Corp and ONGC's potential refinery project.
Asian stocks fell after Wall Street experienced its worst day since August 5, driven by weak US data and declining oil prices. The upcoming August jobs report is expected to show a modest increase in payrolls, while the Federal Reserve considers rate cuts to address economic concerns.
President Droupadi Murmu has delegated powers to Lieutenant Governor Vinai Kumar Saxena to appoint members to various authorities, boards, and commissions in Delhi. This move, announced by the Ministry of Home Affairs, could lead to tensions with the Aam Aadmi Party government. Additionally, the President has sanctioned the constitution of the 23rd Law Commission of India, which will function from September 2024 to August 2027 and focus on legal reforms.
A group of Indian-Americans has launched a grassroots campaign to support Democratic presidential nominee Kamala Harris in key battleground states. Harris, whose mother is from India and father from Jamaica, aims to become the first person of Indian heritage to lead the US. The campaign focuses on mobilizing Indian Americans to vote for Harris, celebrating her biracial heritage and connection to Indian culture.
Gout Gout is having a field day at the U20 World Championships in Peru, as the Australian may be scheduled to be the next best sprinter at the world stage. All you need to know about the new Usain Bolt of this era.