Buisiness

Rocket companies (Photo-AP) Rocket Mortgage is acquiring competitor Mr. Cooper in an all-stock deal valued at $9.4 billion, shortly after its acquisition of real estate listing company Redfin. The merger will create a combined entity handling one in every six mortgages in the US, adding nearly 7 million new clients to Rocket’s portfolio. This strategic…

Trump said the US would begin collecting tariffs on autos on April 3. US President Donald Trump’s sweeping 25% tariff on all imported vehicles and parts is a windfall for Elon Musk’s Tesla — at least on American soil. But it may prove meaningless against the rising global threat posed by China’s electric vehicle juggernaut,…

Primark CEO Paul Marchant (Photo-AP) Paul Marchant, the CEO of Primark, has resigned after an investigation into his behaviour toward a woman in a social setting. Marchant, who had led the fast-fashion retailer since 2009, apologized to the individual involved and stepped down with immediate effect, according to a statement from the company on Monday,…

NEW DELHI: The Indian economy is likely to grow at 6.5% in the fiscal year starting April 1, EY Economy Watch said. The March edition of the report projects India’s real GDP growth at 6.4% in FY25. It highlighted the need to realign fiscal policy to support growth. Source link

Finland’s telecom giant Nokia announced on Monday that it had reached a settlement with Amazon over alleged patent infringements related to video technologies. Nokia confirmed that it had signed a patent agreement with Amazon, which covers the use of Nokia’s video technologies in Amazon’s streaming services and devices. The agreement resolves all ongoing litigation between…

NEW DELHI/ MUMBAI: In a fresh lifeline to Vodafone Idea, govt has decided to convert Rs 36,950 crore of spectrum dues into equity, making it the largest shareholder in the telecom company with a holding of almost 49%.Following the fresh issue of shares to the Centre, promoters’ holding will fall from 39% to 26%. Specifically,…

HYDERABAD: As global investment giant Vanguard gears up to open its largest global tech development centre at Hyderabad, its global CEO Salim Ramji is visiting Hyderabad. The tech development centre, which will be Vanguard’s first in India, is slated to open in the city later this year.Ramji is heading a delegation of senior leaders from…

<p>During March, FPIs sold ₹6,027.8 crore ($637.3 million) in secondary market equities whilst investing ₹2,055.2 crore ($236.1 million) in the primary market. (AI image)<br></p> Foreign portfolio investors demonstrated a mixed investment pattern in March, marking their third straight month as net sellers of Indian equities. However, the outflow significantly decreased due to robust purchasing activities…

Foxconn is developing a 300-acre facility in Bengaluru, set to become its second-largest after China. (AI image) Foxconn intends to produce 25-30 million Apple iPhones at its Indian facilities this year, which would be an over twofold increase from the previous year’s output. This comes as Apple expands its manufacturing presence in India and works…

Tax officials are requesting verification of claims submitted in previous Income Tax Returns (ITR). (AI image) Income tax payers claiming House Rent Allowance (HRA) exemptions should take note. The Income Tax Department is issuing notices to individuals who have sought HRA exemptions in their tax filings but have not paid the required Tax Deducted at…