Business

Amazon has reportedly laid off around 250 employees in its devices and services division, mainly affecting software development roles, as part of efforts to streamline operations and align staffing with product priorities. The move follows recent layoffs in its retail division and comes amid a broader wave of global tech job cuts driven by cost reduction and increased AI investments.

Indian equity benchmarks opened marginally higher on Thursday, with Sensex rising 168 points and Nifty gaining 45 points despite mixed global cues, elevated crude oil prices, and concerns over US interest rates. IT and pharma stocks led gains, while private banks and media shares lagged.

Samsung Electronics reported a record third-quarter performance, driven by booming demand for AI-related memory chips. Net profit surged over six-fold year-on-year, while operating profit and revenue hit record highs, with the semiconductor division contributing nearly all of the company's operating earnings.

Karnataka must measure its data centre ambitions not just in gigawatts, but also in how sustainably they use water and other vital resources

The combined market valuation of the Reliance Group stands at Rs 30 lakh crore, while that of Tata Group at Rs 25.28 lakh crore, according to BSE data

Akash Ambani pledged to expand Jio Platforms and democratise technologies including AI, cloud and space connectivity after its IPO. He called the listing a starting point, while the shares debuted at a premium of over 21 per cent on Wednesday

Tata Trusts chairman Noel Tata is set to leave the boards of six Tata Group companies on November 12, when he turns 70. He will remain a Tata Trusts nominee director at Tata Sons, while succession arrangements remain unannounced

Countries are expanding local currency transactions to reduce conversion costs, manage certain foreign-exchange risks and strengthen economic resilience. The trend spans Asia, Europe, Latin America and Africa, raising questions about its potential long-term implications for the US dollar's global dominance

Indian benchmark indices ended lower on Wednesday despite recovering from intraday lows, with the Sensex falling 353 points and the Nifty losing 51. Gains in automobile and banking stocks limited losses, while IT and oil and gas shares remained under pressure

The rupee fell 21 paise to close provisionally at 95.28 against the US dollar on Wednesday, pressured by a stronger greenback and rising crude oil prices. Elevated US Treasury yields and foreign investment flows remained key factors influencing currency movements

Jio Platforms shares debuted at Rs 1,358, a 21.36 per cent premium over the issue price, following a Rs 30,213-crore IPO. The issue was subscribed 22.19 times, while brokerages initiated coverage with Buy ratings and growth forecasts.

Jio Platforms became India’s second-most valuable listed company after debuting on Dalal Street at a 21.36 per cent premium over its issue price. Its market valuation reached Rs 12.50 lakh crore, following an IPO subscribed 22.19 times

Global oil prices climbed after Yemen’s Houthi rebels reportedly targeted Saudi Arabia’s largest oil refinery, renewing concerns over Middle East supply disruptions. Diplomatic talks continue to ease tensions, while OPEC+ producers are expected to maintain December output targets amid market uncertainty

Indian equity markets fell in early trade on Wednesday amid elevated crude prices and caution ahead of the US Federal Reserve’s policy decision. The Sensex dropped 684 points, while IT and FMCG stocks led sectoral losses.

JLR has begun local assembly of the Defender 110 in Pune, slashing prices by up to Rs 34 lakh. Offered in three powertrains starting at Rs 99 lakh, the luxury SUV features enhanced standard equipment and scheduled deliveries from November 15

Strategic convergence has brought India and the US closer, but competing economic interests could expose the limits of their partnership

Apple has unveiled a redesigned iPad mini featuring an 8.5-inch OLED display, A20 Pro chip, improved cameras and faster connectivity. The tablet runs iPadOS 27, supports Apple Intelligence and Siri AI, and offers an optional nano-texture display to reduce glare

Hyundai Motor India has launched the BAYON at a starting price of Rs 9.99 lakh (ex-showroom). Powered by a 1.5L petrol engine, the utility vehicle introduces a Generative AI voice assistant, Level 2 ADAS, and connected car technology

The rupee fell 29 paise to close provisionally at 95.22 against the US dollar on Monday, marking its third consecutive session of losses. Elevated crude prices and geopolitical tensions weighed on sentiment, while gains in domestic equities cushioned the decline

SBI Funds Management shares fell to a record low after its September-quarter profit missed expectations. Higher operating expenses and slower growth in equity assets weighed on results, though Equirus Securities retained its “Long” rating and a Rs 540 target.

India's Global Capability Centres are increasingly shifting towards AI-led operations, with AI architects earning up to Rs 108.6 lakh annually. A TeamLease Digital report highlights salary premiums for AI skills, rising generative AI adoption and higher projected salary increments across GCCs

Eight of India's 10 most valuable listed companies lost a combined Rs 1.55 lakh crore in market value last week as benchmark indices fell. HDFC Bank and Bajaj Finance led the losses, while TCS and Larsen & Toubro recorded gains

  The Ministry of Corporate Affairs extended deadlines for companies to file FY2025-26 financial statements until December 31, 2026, and annual returns until January 31, 2027, without additional fees, following stakeholder concerns over technical glitches on the MCA-21 portal 

Adani Group dismissed social media claims linking it to tree felling near Maharashtra’s Bhimashankar Temple, saying it has no projects nearby. Separately, Adani Enterprises reported planting over 1.6 million trees across 568 hectares at its Chhattisgarh mining site