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Prominent stakeholders in the educational technology startup Byju's are advocating for a change in leadership, expressing discontent with the current CEO and founder Byju Raveendran. The company's valuation has sharply declined from $22 billion to $250 million within a span of less than two years. In a notable development, a faction of the primary investors has formally requested an extraordinary general meeting (EGM) for Think & Learn (T&L), Byju's parent company, to discuss the restructuring of the board and a shift in the company's leadership. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lwEmXaf

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nuQLGok

The Federal Reserve left interest rates unchanged in its latest policy statement, signaling a shift away from a bias towards rate hikes. While not indicating an imminent rate cut, the Fed acknowledged concerns about both inflation and employment, suggesting a more balanced approach. The statement disappointed investors expecting rate cuts soon, emphasizing the need for greater confidence in achieving the 2% inflation target before considering reductions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ax3QFsU

NTPC is set to acquire the KSK Mahanadi power station in Chattisgarh, a large greenfield project with a proposed capacity of 3,600 MW, marking the state-run utility's second acquisition of a stressed asset. The project came under corporate insolvency resolution process in April 2022 after defaulting on loans. NTPC's investment in the project is valued at Rs 5,000 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/z7fLUMC

India has witnessed a surge in innovation, with an average of 247 patents filed per day in 2023, the highest in the last two decades, according to a report by SBI Research and the Indian Patent Office. Patent filings increased by 17% to 90,309 in 2023, and the average patent pendency was reduced by 15 months to 53 months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MOd14mU

Sebi, is reviewing a requirement for listed companies to disclose all penalties imposed by authorities, regardless of the amount, which has increased compliance burden. Previously, companies had discretion in disclosing fines. Critics argue that reporting even insignificant penalties, such as those representing a tiny fraction of a company's market capitalization, leads to unnecessary compliance burden and obscures truly significant disclosures. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ps8pq2r