IBM said it had “faltered” in responding to a sharp shift in corporate technology. (AP photo) A $69 billion wipeout and worst fall in nearly 40 years – IBM’s share price on Tuesday crashed 26% in trade in a sign of how the technology sector is rebalancing with the growth of artificial intelligence. Shares of…
File photo: Byju Raveendran BENGALURU: The Singapore high court has declined Byju Raveendran’s request to suspend a six-month civil contempt sentence, lifting the temporary protection earlier granted to the Byju’s founder while his appeal against the ruling remains pending.Raveendran’s legal team clarified that the July 9 hearing dealt only with his application to stay the…
Shares of software and IT services companies plunged Tuesday after International Business Machines (IBM) reported preliminary results that missed analyst expectations, reigniting questions about the sector.IBM shares plummeted as much as 26%, on track for their biggest one-day drop since at least 1968. The company reported that it missed expectations because customers shifted capital spending…
Oil prices surged beyond the $85-a-barrel mark on Wednesday as the Middle East once again got embroiled in conflict. Energy supply concerns intensified after the United States reinstated a naval blockade on Iran and fighting between Washington and Tehran escalated, raising fears over crude supplies moving through the Strait of Hormuz.Brent crude and US West…
NEW DELHI: Output in the air transport sector contracted nearly 14% in April, NSO’s maiden index of services production (ISP) data released Tuesday show – in what could be a reflection of the impact of high fare costs imposed due to increased fuel prices because of the ongoing conflict in West Asia. In contrast, the…
MUMBAI: Gautam Adani and his family’s Adani Properties were the biggest gainers in India’s real estate industry, adding Rs 38,000 crore to reach Rs 90,400 crore in valuations, with a 73% surge in wealth.According to the 2026 GROHE-Hurun India list of the country’s top 151 property companies released on Tuesday, Adani Properties moved four places…
NEW DELHI/MUMBAI: Government has begun the exercise to decide on the process for sale of its stake in IDBI Bank and is looking to speed up the process months after rejecting bids that were below the reserve price.Two high-powered meetings of officials took place on Monday, govt officials said, with focus on two qualified bidders-Prem…
GTRI highlighted that tariff cut alone won’t raise exports unless certifications and logistic processes ease NEW DELHI: After years of negotiations and an over year-long implementation process, the free trade agreement between India and the UK is set to be rolled out Wednesday, opening up the possibility of Indian exporters competing more favourably with shipments…
India: The import of goods produced or manufactured, wholly or in part, through the use of forced labour is prohibited. (AI image) NEW DELHI: Amid US Trade Representative’s Section 301 probe on failure of 60 countries, including India, to check imports using forced labour, govt has decided to insert a new clause seeking to block…
US senators on Tuesday unveiled a revised version of a Russia sanctions bill that seeks to pressure Moscow and its major energy buyers, including India and China, while easing some of the toughest provisions from the original proposal.The bipartisan legislation, originally championed by the late Republican Senator Lindsey Graham, aims to impose sanctions on Russian…
