Author: NNI Editor
Federal Trade Commission (FTC) attorneys argue that Facebook, since renamed Meta, devoured what it saw as competitive threats [File] | Photo Credit: AP Meta chief and co-founder Mark Zuckerberg took the stand Monday in a landmark US antitrust trial in which his social media juggernaut stands accused of abusing its market power to acquire Instagram and WhatsApp before they could become competitors.Federal Trade Commission (FTC) attorneys argue that Facebook, since renamed Meta, devoured what it saw as competitive threats.Zuckerberg was shown an internal Facebook email from 2011 that warned Instagram was a hit on smartphones and could easily copy what…
More than three years after Russia’s invasion of Ukraine, Europe’s energy security is fragile.U.S. liquefied natural gas helped to plug the Russian supply gap in Europe during the 2022-2023 energy crisis.But now that President Donald Trump has rocked relationships with Europe established after World War Two, and turned to energy as a bargaining chip in trade negotiations, businesses are wary that reliance on the United States has become another vulnerability.Against this backdrop, executives at major EU firms have begun to say what would have been unthinkable a year ago: that importing some Russian gas, including from Russian state giant Gazprom,…
Trump administration cuts across federal health agencies have sent shivers through a biotech industry already struggling through a prolonged downturn, increasing concerns they will have a harder time getting products approved, investors, company executives and analysts said.Mass firings at the U.S. Food and Drug Administration are particularly risky for small- and mid-cap biotech companies that have innovative treatments in clinical trials but no products on the market to keep them afloat, these sources told Reuters.Directives from President Donald Trump’s administration to freeze grant funding from the National Institutes of Health may also discourage future talent and resources from flowing into…
The question on every trader’s lips in Argentina: How much will the peso be worth on Monday morning?The long-suffering currency will start on a new exchange rate regime on Monday after the government dismantled large parts of the country’s years-long capital controls, putting the peso on a far wider trading band than its previous fixed peg.The peso will now be allowed to float freely within a gradually expanding band between 1,000-1,400 pesos per dollar. It closed at 1,074 per dollar on Friday, with parallel markets at 1,355. The official exchange rate was previously on a crawling peg, only allowed to…
Country’s largest lender State Bank of India (SBI) and Bank of India have reduced lending rates following Reserve Bank of India’s (RBI) policy rate cut. | Photo Credit: Reuters Bringing cheer to borrowers, the country’s largest lender State Bank of India (SBI) and Bank of India have reduced lending rates following Reserve Bank of India’s (RBI) policy rate cut, making loans cheaper for both existing and new borrowers. Private sector major HDFC Bank has lowered interest rate on savings accounts.Both the SBI and Bank of India have announced a reduction of 25 basis points in their home loan interest rates.…
Image for representation | Photo Credit: The Hindu Growth in demand for diesel, India’s most consumed petroleum product, fell to its lowest since the pandemic in the financial year ended March 31 as the economy expands at a slower pace and consumption shifts to cleaner fuels.Diesel consumption rose 2% to 91.4 million tonnes in 2024-25 (April 2024 to March 2025) fiscal, according to provisional data released by the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry.The growth in demand for diesel, which is used to power trucks and farm machinery, in 2024-25 was slower than 4.3% in the…
Pharma major Dr. Reddy’s Laboratories has denied it has embarked on an exercise aimed at a 25% workforce cost reduction.The company on Monday evening dismissed a media report which, citing sources, said the Hyderabad-headquartered generic drugmaker, as part of a 25% workforce cost cutting exercise, had asked several employees drawing relatively high salaries, especially many of those earning over ₹1 crore annually, to resign.“We categorically deny the claim of a 25% workforce cost reduction and the other claims mentioned,” Dr. Reddy’s said in a filing with the stock exchanges. The company does not comment on market speculations and there is…
Real estate tycoons Lodha brothers and the companies headed by them, which were locked in a trademark violation dispute, have ‘amicably’ resolved all outstanding disputes ‘under the guidance of their parents’, according to statements from both sides.As per the Bombay High Court directed mediation process, Macrotech Developers Ltd. (MDL) led by the elder brother Abhishek Lodha, is the owner of, and has the exclusive right to use the brand names Lodha and Lodha Group. “Abhinandan Lodha, is the owner of, and has the exclusive right to use the brand name House of Abhinandan Lodha (HoABL),” according to the statement.Lodha Group…
Intelligent engineering solutions provider Cyient has bagged a contract forming part of a hydrogen production and distribution facility at Langstranda in Bodø, Norway.It will support GreenH Bodø in the development and execution of the facility, which in turn is part of a joint venture between Norwegian company GreenH and Hamburg, Germany-based independent asset manager Luxcara. Cyient said the scope of its work, under the contract, includes providing comprehensive owner’s engineering and detailed plant engineering services. It will leverage its experience in green and renewable energy engineering, including green hydrogen towards optimising project delivery and enhancing efficiency through the lifecycle of…
Volkswagen India launched Tiguan R-Line SUV which is priced at ₹49 lakh (ex showroom introductory price). | Photo Credit: Special Arrangement Even though U.S. President Donald Trump has paused reciprocal tariffs on about 70 countries for 90 days and the U.S. and China have gone in for a competitive tariff war to outbid each other, a top executive of European auto giant Volkswagen Group said adding such measures were against free trade and would disrupt global supply chains.“Volkswagen group has exposure to lot of geographies even China and North America. The U.S. is one of the major markets, so of…