Business

US credit rating downgrade undermines Donald Trump’s claims regarding economic robustness. (AI image) Moody’s Ratings downgraded the United States government’s credit rating on Friday, pointing to the inability of consecutive administrations to control increasing government debt levels.The credit rating reduction to Aa1 from Aaa compounds the challenges for the US President Donald Trump, coinciding with…

MUMBAI: Dalal Street investors seem to have heaved a sigh of relief. The Indo-Pak ceasefire announced last weekend, which started a rally on Monday, has added over $300 billion (about Rs 26 lakh crore) to investor wealth, with India’s market cap now at $5.2 trillion (Rs 443 lakh crore).The gains came as the sensex rallied…

BENGALURU: IT firms have witnessed growth in median salaries, with increases varying from 12% to 37% since FY21. Infosys and Wipro showed a 30% rise in median compensation, while Cognizant and Accenture recorded increases of 12% and 17.5% during the same period.From FY21 to FY24, salary improvements varied across companies. Indian firms recorded increases between…

BENGALURU: IPO-boundinvestment platform Groww signed an agreement to acquire wealth-tech startup Fisdom in a deal valued at approximately $150 million, people familiar with the matter told TOI. “The deal is entirely cash-based and is expected to close after regulatory approvals,” one of the people said.The transaction marks Groww’s entry into the wealth management and offline…

MUMBAI: Call it consumption fatigue, price pinch, or a lack of new choices, demand for snacks remained static in FY25. Not all households necessarily cut back on spending on biscuits, noodles, or namkeen, but they did not buy more of them either, data sourced from market research firm Kantar showed.Some may have even purchased a…

BENGALURU: Delhivery reported its first full-year net profit in the 2024-25 financial year, buoyed by continued gains in its part-truckload (PTL) business and improving operational efficiencies.The logistics company also said early customer movement and network synergy from its proposed acquisition of Ecom Express began reflecting in higher daily volumes.Its net profit for FY25 was Rs…