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Billionaire and Twitter CEO Elon Musk hasn't tweeted during his China visit, marking his longest hiatus from the platform since buying and taking it private. Social media sites, including Twitter and Facebook, are banned in China. Musk's silence on the site has some users wondering if he was unable to set up a VPN or felt it was inappropriate. During his visit, he met with Chinese government officials and local business leaders and said Tesla opposed decoupling from China. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eur7QGd

Musk and the 74-year-old Frenchman have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index, a listing of the world’s 500 richest people.Arnault first surpassed Musk in December as the tech industry struggled and luxury showed resilience in the face of inflation. LVMH, which Arnault founded, owns brands including Louis Vuitton, Fendi and Hennessy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hY9VXB5

The cheapest 24-hour advance purchase ticket to Leh from Mumbai is Rs 22,500, and Rs 20,000 to Kochi. The conventionally expensive eastern and north-eastern destinations are cheaper, with Mumbai-Kolkata at Rs 7,200, Bagdogra at Rs 8,300, and so on. The fare from Mumbai to Delhi is an incredible low Rs 4,700, One-day advance fares are expected to be pricey, but what stands out is the quantum jump for non-stop flights on certain routes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MB4aYZw

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India's government is expected to refuse vital funding for Anil Agarwal's Vedanta Resources' semiconductor venture with Taiwan's Hon Hai Precision Industry. Vedanta and Hon Hai applied for incentives for the production of 28-nanometer chips, which potentially could have been worth billions of dollars, but India's government ruled the joint venture had not met the criteria set. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DASdiBs

Tata Consultancy Services (TCS) has started sending memos to employees who are not completing at least 12 days of work from the office in a month. The company has said in the memo that disciplinary proceedings will be initiated if they do not adhere to the roster. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X9aRItC

Yes Bank MD & CEO Prashant Kumar said the last three years have been transformative for the institution and that it was focused on reinvigorating the brand. "Yes Bank vows to be responsive, agile, transparent, innovative, and uphold high integrity in all aspects, aligned with its corporate social responsibility (CSR) ethos," said Kumar. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/afCjg5Q

Gautam Adani's Adani Transmission faces a funding gap that may require it to infuse as much as $700m by March 2026 to fulfill existing project commitments, according to India's unit of Fitch Ratings. Thirteen projects are currently underway, but many face delays or cost overruns, while others have seen adverse weather, pandemic-era disruptions or legal wrangles. This funding is mission-critical for Adani and the government of India's Infrastructure plans. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5H48LlZ

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The city of Wuhan, China, has publicly named 259 entities with outstanding debts in its official government newspaper, the Yangtze River Daily, totalling over $42m. The move, which is rare for China, has highlighted the ongoing fiscal pressures being experienced by local Chinese governments. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7OgzZit

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Banks invest around a fifth of their deposits in government bonds. However, they can avoid making MTM provisions on the bonds they classify as 'held to maturity' (HTM). However, banks have to provide for a fall in the market value of bonds in their trading or 'available for sale' portfolio. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ST3JaeO

Impacted by higher tax outgo, pharma major Aurobindo Pharma’s posted a 12% drop in consolidated net profit for the fourth quarter ended March 31, 2023, at Rs 506 crore as compared to Rs 576 crore in the corresponding quarter of financial year 2021-22. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0tRndSz

China's recent efforts to moderate malicious online content has resulted in action taken against over 1 million social media posts and accounts. The crackdown, which began in March, prompted the permanent ban of 66,000 accounts and the censure of 928,000 others, along with the handling of 1.41 million online posts. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cdOSevz

US stock indexes rose on Friday amid the optimism of avoiding a catastrophic US debt default. The S&P 500 increased by 1.3% to 4,205.45, the Dow Jones Industrial Average marked a 1.0% increase to finish at 33,093.34. Nasdaq surged and finished 2.2% up at 12,975.69. The increase was driven by the hope of announcing avert the default. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KifrbCR

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Vikram Bakshi, the CEO & MD of Ascot Hospitality, who parted ways with McDonald’s a few years ago, has invested in New Delhi-based brand AKU’S The Burger Co. The investment has been routed via Bakshi’s family office. “At this stage, I am not in a position to disclose the detailed terms of the deal. However, the investment is as equity with a seat on the board,” Bakshi told TOI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qfr3WMH

Lloyd’s Register, a maritime services company, has informed Gatik Ship Management, a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3. This is the latest setback for Gatik, which has also been forced to find new flags for 36 of its ships after being deflagged by the St. Kitts & Nevis International Ship Registry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lqiOvbU

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