Business Industry

Meta Initiates Layoffs Targeting 5% of Workforce

By BPN News Desk February 10, 2025

Meta Platforms, the parent company of Facebook, has commenced a series of layoffs impacting approximately 5% of its global workforce. This move aligns with CEO Mark Zuckerberg’s strategy to “raise the bar on performance management” by expediting the departure of employees not meeting performance expectations. Implementation of Layoffs The layoffs began on

Business Industry

Ratan Tata’s Half-Siblings to Oversee His Stake in Tata Group

By BPN News Desk February 9, 2025

The late industrialist Ratan Tata’s half-siblings—Shireen Jejeebhoy, Deanne Jejeebhoy, and Noel Tata—are set to assume control over his stakes in Tata Group companies. This development follows the restructuring of the Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata Endowment Trust (RTET), which have been designated as custodians of his financial

Business Industry

Gautam Adani Pledges ₹10,000 Crore for Social Causes at Son’s Wedding

By BPN News Desk February 8, 2025

In a notable act of philanthropy, Gautam Adani, chairman of the Adani Group, has announced a donation of ₹10,000 crore to various social causes, coinciding with the wedding of his younger son, Jeet Adani. This substantial contribution is earmarked for significant infrastructure projects in healthcare, education, and skill development, aiming to provide accessible and

Business Industry

JSW Group Announces ₹1 Lakh Crore Investment for Mega Steel Plant

By BPN News Desk February 8, 2025

In a significant move to bolster India’s steel production capacity, JSW Group has unveiled plans to invest ₹1 lakh crore in the Gadchiroli district of Maharashtra. This substantial investment is directed towards establishing a state-of-the-art steel plant with an annual production capacity of 25 million tonnes. The project is anticipated to be completed over the […]

Business Industry

Arbitrator to Decide on Trustees for Ratan Tata Foundation

By BPN News Desk February 5, 2025

In the absence of explicit written instructions from the late Ratan Tata regarding the appointment of trustees to the Ratan Tata Endowment Foundation (RTEF), stakeholders are considering arbitration to resolve the matter. The proposed arbitrator is expected to be a retired Chief Justice of the Supreme Court, who will determine whether the authority to appoint […]

Business Industry

Automakers Challenge Proposed Safeguard Duty on Steel Imports

By BPN News Desk February 5, 2025

Indian automobile manufacturers are expressing concerns over a proposed safeguard duty on certain steel imports, emphasizing the absence of domestically produced alternatives that meet stringent emission and safety standards. Investigation into Steel Imports On December 19, 2024, the Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, initiated an

Business Industry

Govt to Offer Loans Up to ₹100 Cr for MSMEs

By BPN News Desk January 31, 2025

The Indian government has announced a new financial initiative to support Micro, Small, and Medium Enterprises (MSMEs) by offering loans of up to ₹100 crore under a mutual credit guarantee scheme. The move aims to strengthen the financial backbone of MSMEs and enhance their contribution to the economy. “The new mutual credit guarantee scheme will […]

Business Industry

Gold Prices Hit Record ₹83,800 Amid Global Market Trends

By BPN News Desk January 31, 2025

Gold prices surged to an all-time high of ₹83,800 per 10 grams, reflecting increasing investor interest and global economic uncertainties. The precious metal’s rally has been fueled by strong demand, geopolitical tensions, and shifting monetary policies across major economies. Factors Driving the Gold Price Surge Several key factors have contributed to the latest spike in

Business Industry

Adani Group Pledges ₹2.3 Trillion Investment in Odisha

By BPN News Desk January 29, 2025

The Adani Group has unveiled an ambitious ₹2.3 trillion investment plan in Odisha, spanning the next five years. The commitment aims to accelerate industrial growth, strengthen port infrastructure, boost renewable energy projects, and enhance the region’s logistics and manufacturing sectors. “Odisha is a key state for Adani Group’s growth strategy” The

Business Industry

Cabinet Approves New Ethanol Procurement Prices for EBP

By BPN News Desk January 29, 2025

In a significant move to strengthen India’s ethanol blending program (EBP), the Cabinet has approved revised procurement prices for ethanol. The decision is aimed at boosting ethanol production, reducing dependence on fossil fuels, and supporting fuel retailers in meeting blending targets. “New Pricing Structure for Ethanol Procurement” The revised