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The Directorate General of Civil Aviation (DGCA) has issued show cause notices to Air India CEO and chief of flights safety over the February 27, 2023, case of a pilot inviting a friend over to the flight deck of a Dubai-Delhi flight. A senior DGCA official said the notice has been issued for “lapses in not timely reporting safety instruction violations” to the regulator and for “delay in investigating the incident.” from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SpTlz2W

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Kotak Mahindra Bank on Saturday posted a 14.29 per cent increase in its consolidated net profit at Rs 4,566 crore for the March 2023 quarter. The private sector lender's standalone net profit grew to Rs 3,496 crore for the January-March 2023 period against Rs 2,767 crore in the year-ago period. For FY23, the bank's consolidated net profit rose 23 per cent to Rs 14,925 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/59FpNiG

Market regulator Sebi has moved the Supreme Court seeking a six-month extension to complete its probe into the allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures. The top court had on March 2 asked Sebi to probe the matter within two months and also set up a panel to look into the protection of Indian investors after a damning report by a US short seller wiped out more than $140 billion of the conglomerate's market value. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H1vy4dw

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Rallying for the fifth straight session, the 30-share BSE Sensex jumped 463.06 points or 0.76 per cent to settle at 61,112.44. During the day, it rallied 560.08 points or 0.92 per cent to 61,209.46. The broader NSE Nifty advanced 149.95 points or 0.84 per cent to finish at 18,065. Wipro was the biggest gainer in the Sensex pack, rising 2.89 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IApLQRv

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Microsoft has reported better-than-expected quarterly revenues and profits, driven by growth in its cloud computing and Office productivity software businesses. The company reported profits of $2.45 per share in the third quarter of its fiscal year, beating Wall Street expectations of $2.23. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CTeyFXQ

The Dow Jones Industrial Average fell 344.57 points, or 1.02%, to 33,530.83; and the S&P 500 lost 65.41 points, or 1.58%, at 4,071.63, with both marking their biggest one-day percentage losses since March 22. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/c6aYrRj

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The Dow Jones Industrial Average rose 66.44 points, or 0.2%, to 33,875.4 while the S&P 500 gained 3.52 points, or 0.09%, at 4,137.04. The Nasdaq Composite dropped 35.25 points, or 0.29%, to 12,037.20. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PvLpAoX

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Underlining that global consensus is necessary for regulation of crypto, before India makes any move on it, finance minister Nirmala Sitharaman on Sunday said a global template may have to be created, and everyone will have to work together on it, otherwise regulating it will not be effective. She, however, said it does not mean controlling of 'distributed ledger technology', which has its goodness and potential. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XCIpDYa

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Indian economy has been showing signs of transition to a low-inflation regime since the second half of the 2022-23 financial year, even as global factors played a big role in the movement of inflation to a high regime from the second half of 2020-21 till the first half of 2022-23, a paper released by the RBI has said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xQe1uEr

Private lender ICICI Bank on Saturday reported a 27.64 per cent jumo in consolidated net profit to Rs 9,852.70 crore for the January-March quarter of 2022-23 compared to the year ago period.On a standalone basis, the largest private sector lender reported a nearly 30 per cent jump in its net profit for the March quarter at Rs 9,121.87 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UElOCP2

India's foreign exchange reserves went up by USD 1.657 billion to USD 586.412 billion, according to the data available with the RBI. The country's forex reserves gained for a second consecutive week and witnessed a level not seen in more than nine months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0uXZ3F6

The benchmark S&P 500 closed little changed as mixed earning results fueled uncertainty surrounding the Federal Reserve's potential monetary policy shifts. The S&P 500 is generally stable during the early stages of first-quarter earnings season, and next week will feature a flood of reports, including from megacap tech and growth companies. Analysts still expect a near-5% YoY fall in quarterly profits at S&P 500 firms. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Qvc81uH

"We need to be a faster, flatter company," Lyft chief executive David Risher said in an email posted at its website. Lyft will notify employees next week as to whether they still have jobs with the San Francisco-based company, which will keep all of its offices closed that day, Risher said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AQpXyLi

The pay disparity comes at a time when Alphabet, the parent company of Google, has been cutting jobs globally, The Mountain View, California-based company announced plans to cut 12,000 jobs around the world in January, equivalent to 6% of its global workforce. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kcqxzAC

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The proposal involves adding charges if a fund consistently outperforms a benchmark index and provides higher annual returns than rivals. Indian asset management firms are currently allowed to charge up to 2.25% of the investment amount. A decision on the proposals will be made following consultation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Erf7mV

India's economic activity remained robust in March despite weakening export growth and rising unemployment. The needle on Bloomberg's Animal Spirits indicator remained at 5, and a rise in tax collections showed that the country's economy was steady, though the Reserve Bank of India has paused rates evaluations due to the impact of 250 basis points in rate increases so far. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cK6H3w2

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Indian microblogging app, Koo, backed by Tiger Global, has fired 30% of its 260 employees as the company struggles with losses and an inability to raise funds during the global tech rout. Koo benefited initially from Twitter's spat with the Indian authorities, and now has over 60 million downloads. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mszUxhK

Wipro has told all freshers, including those who have undergone training under its Velocity programme, that they will have to complete another training programme, called Project Readiness Programme (PRP), and clear the associated assessment with a minimum of 60% marks to remain in the company. These candidates were issued offer letters last year, and joined the company in March this year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Mi0AQG3