The Indian rupee hit a record low of 91.97 against the dollar on Friday, driven by equity selling and importer demand. Reports of potential US regulatory summons to billionaire Gautam Adani in connection with alleged bribery and fraud significantly impacted the currency's retreat. Foreign investors have divested over $3 billion from Indian markets this month.
Indian stock markets ended a difficult week with a significant drop on Friday. The rupee hit new record lows, and global tensions fueled investor caution. Shares of Adani Group companies saw a sharp decline. Broader markets also experienced substantial losses. Investors are concerned about global uncertainty and potential conflicts.
Videotelephony firm Zoom, telecom giant T-Mobile and low-cost airline Southwest Airlines are among the latest global companies considering the establishment of global capability centres (GCCs) in India, said people aware of the matter, adding that they are in talks with several states toward this end.
TikTok has at last finalized a deal to keep the popular video sharing platform operating in the U.S. after years of uncertainty, but questions remain about whether users experience will change and whether the changes actually address security concerns around the app.
An owner of the Signature Room shuffled its assets around to avoid paying workers who were abruptly laid off when the iconic restaurant and lounge shuttered in 2023, a lawsuit filed in Cook County Circuit Court this week alleges.
China's tech giants, including Alibaba and Tencent, are preparing to order Nvidia's H200 AI chips, signaling Beijing's imminent approval for these crucial components. This move prioritizes major Chinese companies' AI development needs, potentially boosting Nvidia's business. Local chipmakers like Huawei are also expanding production amid these developments.
As Los Angeles ramps up for the 2028 Olympics, local unions are drawing inspiration from the Paris Games when hotel workers went on strike a day before opening ceremonies.
