business Sun Pharmaceutical Industries acquired US-based Organon in July, marking a major overseas deal for an Indian company. This transaction took place in the US, and the deal was part of a broader trend in India Inc. Companies are now prioritizing AI and IP over just buying scale to drive growth. This strategic shift reflects stronger financial health and changing global market conditions. 🚀
business The auto industry body, SIAM, initially warned the government about a huge rise in vehicle part damage due to fuel contamination post-E20 introduction. SIAM, representing major Indian auto producers, sent a letter to MoPNG on July 28 detailing issues with fuel injectors and pumps. They cited 'corrosion and wear' caused by 'high chloride presence' in the fuel. However, SIAM quickly retracted the letter on August 4, leading to allegations of government pressure. The body urged mandatory chloride limits in BIS fuel specifications to protect consumers. 😟
business SpaceX shares dropped by 13.6% on Wednesday after a jump in AI spending spooked investors. Elon Musk's space firm reported capital expenditures soared sixfold to $18.4 billion in Q2. This came as the stock traded below its $135 IPO price, well from its over $200 high. Investors are questioning the ROI of massive tech investments, despite SpaceX narrowing losses. The company faces another market event on Thursday with insider lockups expiring.
business The Bombay High Court ordered the removal of deepfake content linking Union Minister Nitin Gadkari to the E20 ethanol policy. This directive was given in a defamation suit filed by Gadkari against Meta, X, Google, and YouTube in Mumbai. The content, which falsely implied his family benefited, was described by the court as 'vile and abusive' on Wednesday. The E20 programme mixes 20% ethanol with 80% petrol to cut crude oil dependency for India. The matter will be heard again in four weeks, with the court urging platforms to develop better removal mechanisms. 🧐
sports Real Madrid is close to signing winger Yan Diomande from RB Leipzig for nearly €130 million. PSG, which was initially leading the race, explored a swap deal involving Diomande and Ibrahim Mbaye. However, the transfer talks collapsed because Diomande was set on moving to Real Madrid. PSG publicly expressed disappointment with the figures and criticized Real Madrid's business methods. The transfer is expected to be finalized this week, putting pressure on the young player.
world Heavy rain continued to hit Kerala, causing widespread waterlogging and leading to more evacuations. Local authorities confirmed that additional relief camps were opened across affected areas. Schools remained closed in 10 districts on Wednesday due to the persistent downpour. The IMD warned of continued heavy rainfall and strong winds in several districts. Residents are advised to stay safe and avoid risky areas until the weather warning is lifted.
business The Narendra Modi government spent Rs 910.4 crore on print media advertisements from 2020-21 to 2024-25. This spending was detailed by the Ministry of Information and Broadcasting in the Lok Sabha in response to a Congress MP's question. Times of India received the most, amounting to Rs 78.22 crore, followed by Dainik Jagran and Hindustan Times. The data shows a big spend increase leading up to the 2024 Lok Sabha elections. These ads are for welfare schemes, but opposition claims they boost BJP propaganda. 🧐
india The Kerala Cabinet announced ₹8 lakh financial aid for the relatives of those killed in recent torrential rains and floods. This devastating event occurred across parts of the state, with the death toll reaching 26 and four people still missing. Currently, 27,048 people are housed in 462 relief camps across various districts. The government also increased compensation for damaged houses and introduced a soft loan scheme for MSMEs. Further relief includes ₹10,000 for waterlogged residents and ₹10,000 for final rites. 🌊
India has implemented a new closing price system for its stock market, leading to confusion among traders. This change affects participants across the country's exchanges. The new system was rolled out on a specific date, though the exact numbers are under review. The modification aims to streamline market operations but has created uncertainty. Regulators are expected to provide further clarity on the system's implications soon. 📉
Asian stock markets experienced a significant rally following positive movements in Wall Street. This upward trend was largely driven by a rebound in the technology sector across the region. The Australian Securities Exchange (ASX) notably hit a new record high on the reported day. This positive sentiment reflects broader investor confidence returning to the Asian markets. Analysts expect this momentum to continue as global economic indicators stabilize in the coming weeks. 📈
world North Korea's state media recommended dog meat soup to help people cope with the intense summer heatwave. This advice was published by Rodong Sinmun in Pyongyang as part of guidance on handling extreme temperatures. The heatwave sees temperatures soaring above 40°C in parts of the peninsula, with tropical nights recorded since July 27th. While the soup is promoted as a traditional health food, it remains a pricey item for many North Koreans. South Korea, meanwhile, has implemented a law banning dog meat consumption starting in 2027. 🐕
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