Oracle’s Larry Ellison briefly surpassed Elon Musk as the world’s wealthiest person on Wednesday due to a surge in Oracle’s stock price following a strong earnings report. The report highlighted significant customer orders in AI technology, boosting Ellison’s wealth by $100 billion in thirty minutes.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Thursday. While Nifty50 was near 24,950, BSE Sensex was down over 50 points.
South Korean President Lee Jae Myung criticized a large-scale US immigration raid at a Hyundai-LG battery plant, warning it could deter future South Korean investments in America. Hundreds of South Korean workers were detained, causing shock and prompting Seoul to send a charter plane for their return. Negotiations secured their release under voluntary departures, avoiding…
Oracle’s shares experienced a significant surge, climbing approximately 35% due to heightened demand for its cloud services from AI firms. This surge reflects the increasing investments in AI infrastructure, potentially adding $237 billion to Oracle’s market valuation. The company’s stock performance has outperformed major tech players, fueled by investor confidence in AI-driven cloud solutions.
Dr. Manmohan Singh, the former Prime Minister, was posthumously honored with the P V Narasimha Rao Memorial Award for Economics for his significant contribution to India’s economic reforms and development. His wife, Gursharan Kaur, accepted the award at a ceremony in Delhi. Montek Singh Ahluwalia presented the award, acknowledging Singh’s pivotal role in shaping the…
Equity mutual fund inflows experienced a 22% decrease in August, totaling Rs 33,430 crore, primarily due to a reduction in new fund offerings. Despite this dip, equity schemes maintained their positive momentum, marking the 54th consecutive month of net inflows. Flexi Cap Funds led the category inflows, while debt mutual funds saw withdrawals.
