business

Union Pacific proposed to acquire Norfolk Southern for $85 billion. This deal aims to create a coast-to-coast freight railroad. The merger requires regulatory approval. It could reshape US freight logistics. Norfolk Southern’s shareholders would receive cash and Union Pacific shares. The combined entity anticipates new revenue and cost savings. The companies will spend two years…

Wall Street saw modest gains, with the S&P 500 and Nasdaq reaching new highs, as investors awaited the Federal Reserve’s rate decision and developments in US-China trade talks. JetBlue and SoFi Technologies surged on strong results, while Merck and UnitedHealth Group declined after disappointing earnings. Negotiations continued in Stockholm amid tariff deadlines.

Wistron, the Taiwanese manufacturer, is planning a new electronics production unit in Telangana with a proposed investment of Rs 1,000 crore, focusing on servers, routers, and switches. This expansion follows Wistron’s exit from its Karnataka iPhone facility and complements its Rs 1,450 crore laptop manufacturing unit in Bengaluru, slated to begin operations by January 2026.

Jane Street has requested more time from the Securities and Exchange Board of India (Sebi) to respond to allegations of market manipulation in the derivatives sector. The firm also seeks access to the evidence Sebi used in its ruling.

India-US trade deal: Hopes for an imminent India-US trade deal are fading as a top American official indicates that more negotiations are needed before President Trump’s August 1 tariff deadline. Despite ongoing discussions, disagreements persist, particularly in agriculture and dairy sectors, where India remains protective.

Despite strong Q1FY26 results and dividend payouts, TCS’s stock has plummeted, facing a 33% drop from its peak, exacerbated by a 25% decline in 2025. This downturn coincides with the announcement of 12,000 job cuts amid internal restructuring. While technical indicators signal sustained downward pressure, analysts remain optimistic about TCS’s long-term potential, citing operational resilience.

Zerodha Fund House introduces the Multi Asset Passive FoF, a diversified fund investing in equity ETFs, debt, gold, and silver. With allocations to large-cap, mid-cap, gold, and government securities ETFs, it aims to provide stable returns, especially for first-time investors. The fund offers a simple, accessible way to achieve asset allocation goals with a minimum…

TCS layoffs: India’s IT sector is facing turbulence as TCS, the nation’s largest IT firm, announces unprecedented layoffs impacting 2% of its workforce, primarily in middle to senior roles. CEO K Krithivasan cites skill mismatches, not AI, as the reason for this ‘difficult decision.

Tata Consultancy Services plans to reduce its workforce by approximately 2%, impacting over 12,000 employees due to economic uncertainties and AI-driven technological changes. The company will provide affected staff with notice period compensation, severance benefits, insurance coverage, and outplacement assistance. This decision comes amid a slowdown in hiring across the Indian software services sector.

Suresh Narayanan retires from Nestlé India after a decade as CMD, leaving behind a legacy of significant growth and successful navigation of the Maggi crisis. Under his leadership, revenue, profit, and market capitalization surged, driven by innovation and strategic expansion. He’s passing the baton to Manish Tiwary amidst positive market recovery signs.