US investment groups are racing to capitalise on the reopening of Venezuela’s oil sector, targeting underinvested oilfields and launching new investment vehicles after US President Donald Trump’s January call for companies to invest $100 billion to help rebuild the country’s energy industry, the Financial Times reported.Among the early movers is Miami-based Lionheart Capital, which has…
Investors gave SpaceX a blockbuster welcome on its stock market debut, sending the company’s valuation above $2 trillion and cementing its place among the world’s most valuable listed firms.After raising $75 billion in the biggest initial public offering ever, SpaceX began trading under the ticker SPCX at $150, an 11% premium to its IPO price…
Elon Musk‘s aerospace company raised a whopping $75 billion by selling 555.6 million shares, or about 5% of its stock, in Friday’s much-awaited market debut. However, in the weeks ahead, SpaceX could fetch billions more!A mechanism, known as a greenshoe option, gives Morgan Stanley, the stabilisation agent for the listing, the right to buy additional…
Representative image (AI-generated) When most people hear the word ‘trillion’, it is difficult to grasp just how large that number really is.A million sounds huge. A billion sounds almost unimaginable. But a trillion is an entirely different scale.The question has taken centre stage after Elon Musk became the world’s first trillionaire, a milestone driven by…
Veteran banker Uday Kotak reacted to SpaceX’s blockbuster Wall Street debut, saying that the company’s massive valuation does not fit traditional ways of valuing businesses.In a post on X, Kotak wrote, “SpaceX IPO, listing, and beyond, is a true test for capitalism. The valuation does not fit any traditional matrix and is a huge bet…
A ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has underscored the importance of understanding tax deduction at source (TDS) obligations when purchasing property.The case involved a Mumbai resident, who had jointly purchased a residential flat in the tony area of Haji Ali, worth Rs 1.9 crore with her husband. She…
MUMBAI: As talks of a peace deal in West Asia revived on Thursday night, sending Dow Jones up over 900 points and pulling Brent crude prices below the $90-per-barrel mark, the rub-off effect was felt on Dalal Street on Friday. Sensex, after rising more than 1,000 points in early trades, and dipping slightly mid-session, closed…
The carrier is also reevaluating plans to fly to new domestic and international destinations, pruning some routes and postponing launches at some airports, such as the new Noida International Airport, the people familiar with the matter said. Air India’s cowed ambitions follow a series of challenges that have pushed it deep into the red. Air…
Tata Motors chairman N Chandrasekaran MUMBAI: Tata Sons’ board met on Friday to approve the company’s financial results for the year ended March 31, 2026, recommending a dividend to equity shareholders, even as it kept chairman N Chandrasekaran’s reappointment off the agenda for a second consecutive time.“The board stuck to the agenda and there was…
NEW DELHI: Retail inflation based on consumer price index (CPI) inched up for the fourth consecutive month to 3.9% in May from 3.5% in April on account of acceleration in food prices, data released by NSO on Friday showed. The food index rose 4.8% in May, above 4.2% in the preceding month.Despite the staggered increase…
