Business

Paytm Shares Dip Despite Loan Disbursals Jumping 296% YoY, Increase In User Base

Paytm shares were trading lower in early trade on Friday even as the company’s loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now an annualised run rate of over Rs 25,000 crore in July. The company reported that consumer engagement is at its highest on […]

Business

Bolt, Orion-E to build solar plants in Brazil for about $630 mln

Energy infrastructure company Orion-E has reached an agreement with energy trader Bolt to build solar photovoltaic plants in Brazil with a combined capacity of 500 megawatts (MW), a company executive said on Tuesday. The solar venture is expected to cost around 3.2 billion reais ($627.49 million) in investments and will be located in several Brazilian […]

Business

Dollar slides as private sector activity data misses expectations

The dollar edged back from a fresh two-decade high against the euro on Tuesday after data showed U.S. private sector activity was weaker than expected in August, prompting bets the Federal Reserve may be less aggressive in its rate hiking cycle. Against a basket of six major currencies, the dollar index was down 0.376% at […]

Business

Celsius crypto lender, now bankrupt, sues ex-money manager over alleged theft

Celsius Network LLC on Tuesday sued a former investment manager, accusing him of losing or stealing tens of millions of dollars in assets before the crypto lender went bankrupt last month. In a complaint filed in Manhattan bankruptcy court, Celsius accused Jason Stone and his company KeyFi Inc of “gross negligence” and “extraordinarily inept” crypto […]

Business

Nordstrom lowers annual forecast as inflation hits demand

Nordstrom Inc (JWN.N) cuts its annual revenue and profit forecasts on Tuesday, a sign that decades-high inflation was squeezing consumer spending on its high-end clothing and footwear. Shares of the Seattle-based firm fell about 10% in extended trading. Runaway inflation has prompted consumers to shift spending away from clothing and other discretionary items to groceries, […]

Business

Starbucks union claims company closed two cafes in retaliation

The union representing Starbucks Corp (SBUX.O) employees at about 200 of its cafes said on Tuesday the coffee chain closed two locations in retaliation for organizing activities there, though the company cited business and safety reasons for the closures. Employees at the two stores – one in Kansas City, Missouri, and another in Starbucks’ hometown […]

Business

Toyota recognizes California authority to set vehicle emissions standards

Toyota Motor Corp (7203.T) on Tuesday said it recognized the state of California’s authority to set vehicle emissions standards under the U.S. Clean Air Act. Toyota said the move will make it eligible for government fleet purchases by California. California Air Resources Board (CARB) chair Liane Randolph said the board was pleased with Toyota’s decision. […]