Category: Business
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Meesho’s Revenue Rises 33% to Rs 7,615 Crore in Latest Financial Year
Meesho, India’s leading social commerce platform, has reported a significant 33% year-over-year growth in revenue, reaching ₹7,615 crore for the financial year 2022-23. This substantial increase underscores the company’s expanding presence in the e-commerce market. Meesho’s revenue surge can be attributed to its strategic focus on empowering small businesses and entrepreneurs, particularly in Tier II…
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UK Government Unveils Biggest Tax Rise in 30 Years, £52 Billion
In a significant move, the UK government has unveiled its latest budget, which includes a substantial tax hike of £52 billion, the largest in three decades. This increase aims to address the country’s mounting debt and stabilize the economy. Chancellor Jeremy Hunt presented the budget, outlining measures to tackle inflation, reduce borrowing, and promote economic…
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Biogen Surpasses Projections, Raises Outlook on Alzheimer’s Drug Leqembi Momentum
Biogen Inc. delivered a promising third-quarter report, surpassing expectations on revenue and adjusted earnings, driven by the growing success of its groundbreaking Alzheimer’s treatment, Leqembi. The biotech giant raised its full-year profit guidance, citing momentum from Leqembi and other new products. Biogen’s optimism stems from Leqembi’s accelerating uptake, which has steadily increased over the past…
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Cloud Revenue Lifts Alphabet Earnings, Shares See Significant Gain
Google’s parent company Alphabet Inc. stunned Wall Street with its impressive third-quarter earnings report, surpassing expectations on both revenue and profit. The tech giant’s shares skyrocketed by 6% in after-hours trading. Alphabet reported earnings per share of $2.12, beating estimates of $1.85, while revenue reached $88.27 billion, exceeding forecasts of $86.30 billion. YouTube advertising revenue…
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Japan’s Election Results: What’s Next for Investors?
Japan’s stock market defied expectations on Monday with a significant rally, as the yen slipped to a three-month low following the country’s parliamentary election. The ruling Liberal Democratic Party (LDP) and its coalition partner Komeito secured 215 out of 465 seats, falling short of the 233 needed to win power in Japan’s lower house. This…
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Marico Q2 Profit Jumps 20% to ₹433 Crore, Revenue at ₹2,664 Crore
Homegrown fast-moving consumer goods (FMCG) major Marico Ltd reported a significant 20.27% year-on-year (YoY) increase in consolidated net profit to ₹433 crore for the September quarter (Q2FY25), up from ₹360 crore in the corresponding quarter last year. Marico’s consolidated revenue from operations rose 7.6% YoY to ₹2,664 crore, compared to ₹2,476 crore in Q2FY24. Total…
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NTPC Green Energy’s ₹10,000 Crore IPO Receives SEBI Clearance
NTPC Green Energy Ltd., a wholly-owned subsidiary of NTPC Ltd., has secured the final observation from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) worth ₹10,000 crore. This IPO, with a face value of ₹10 per equity share, consists entirely of fresh equity shares, along with a reserved…
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Apple’s China Suppliers May Find Opportunity in US Trade Dispute
The potential benefits of supply chain diversification for Apple’s Chinese suppliers. The analysis, released on October 18, explores the trend of supply chain relocation and the rise of trading blocs amid escalating U.S.-China tensions and the ongoing COVID-19 pandemic. The trend of supply chain diversification has gained momentum, driven by factors such as China’s dominance…
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Walgreens to Shut Down 1,200 Locations Nationwide
In a significant move to revamp its business strategy, Walgreens Boots Alliance (WBA) has announced plans to close 1,200 stores across the United States. This decision comes as the pharmacy giant struggles to cope with declining sales, increased competition, and a rapidly evolving retail landscape. The store closures, which account for approximately 9% of Walgreens’…