Author: Varta24 Business

Professional networking platform LinkedIn has initiated permanent job cuts affecting 606 employees across its California offices, with the layoffs scheduled to officially take effect on July 13, 2026. The headcount reduction was revealed via recent Worker Adjustment and Retraining Notification (WARN) filings, according to a report by the New York Post. The operational downsizing occurs alongside an even larger corporate restructuring at Meta, which is cutting roughly 8,000 workers globally. While many recent Silicon Valley workforce adjustments are being driven by automated intelligence replacements, LinkedIn leadership clarified that its current staff reductions are aimed at controlling standard operational budgets and…

The Indian rupee collapsed to a fresh record low on Wednesday, 20 May 2026, breaking past major psychological resistance levels. The currency was hit hard by a combination of high global crude oil prices, spiking international bond yields, and persistent foreign capital outflows driven by stalled peace negotiations in the US-Iran war. The local currency started the session down 33 paise at 96.86 per dollar, immediately eclipsing the previous session’s all-time low of 96.6150. As trading advanced, intense dollar demand pushed the rupee further down to an intraday bottom of 96.96. Since the regional conflict began in late February, the…

Facebook parent company Meta has commenced a fresh round of global job cuts, notifying employees on Wednesday morning, May 20, 2026. The restructuring is set to affect nearly 8,000 workers worldwide, with staff at its major Asian hub in Singapore among the first to receive layoff notices, according to reports by Bloomberg and The Business Times. The workforce reduction is part of a broader corporate realignment as Meta heavily reallocates capital into building artificial intelligence infrastructure and AI-driven products while actively scaling back and streamlining its legacy divisions. Early Morning Layoff Waves and Targeted Departments According to Bloomberg, the implementation…

International oil prices slipped on Wednesday, 20 May 2026, as energy traders weighed conflicting military and diplomatic headlines coming from the White House. While global benchmarks adjusted downward in response to assurances of a swift end to the Middle East conflict, domestic futures on the Multi Commodity Exchange (MCX) moved higher, reflecting deep local supply sensitivities and currency pressures. Global vs. Domestic Energy Futures Summary Benchmark Asset Trading Price (May 20) Net Session Move Key Market Driver Brent Crude Futures $110.83 / barrel Down 45 cents (-0.4%) Softened due to repeated White House assertions of a fast-tracked peace deal. U.S.…

The Indian stock market witnessed intense intraday volatility on Wednesday, 20 May 2026. Benchmark indices—the BSE Sensex and NSE Nifty 50—dropped by nearly 1% each during the session. The market remained highly sensitive to conflicting geopolitical signals, balancing growing hopes of a potential US-Iran peace agreement against macroeconomic warning signs like escalating global bond yields. Despite the cautious broader market sentiment, volume surged across specific counters on the National Stock Exchange (NSE), driven by stellar fourth-quarter earnings and corporate turnaround milestones. Stock Name Traded Volume / Activity Intraday Performance Key Financial & Operational Highlights (Q4 FY26) Vodafone Idea Over 40…

Emkay Global Financial Services has maintained its constructive stance on Indian equities, reiterating its Nifty 50 target of 29,000 for March 2027. The brokerage expects improving earnings growth to drive the market forward once regional geopolitical tensions ease, offering investors a potential upside of nearly 23% from recent closing levels. In its latest India Strategy report, Emkay Global noted that while near-term market volatility may persist due to ongoing global energy market pressures, India’s underlying domestic macroeconomic resilience, a stabilizing corporate earnings trajectory, and consistent policy support provide a strong foundation for long-term growth. Valuations and Earnings Outlook The brokerage…

In a major shift in international corporate enforcement, the Trump administration on Monday moved to dismiss all criminal fraud and bribery charges against Indian billionaire industrialist Gautam Adani. Simultaneously, the U.S. government resolved a separate case involving alleged Iran sanctions violations by one of his flagship companies, cleanly wiping away months of intense regulatory pressure on the conglomerate. The resolution of these high-profile legal battles comes directly after Adani’s defense attorney—who also happens to serve as a personal lawyer to U.S. President Donald Trump—informed officials last month that the Adani Group was eager to deploy a massive $10 billion investment…

Reliance Industries Ltd. (RIL) is in advanced talks with Chinese battery manufacturing giant Contemporary Amperex Technology Co. Ltd. (CATL) and several other global suppliers. The negotiations aim to secure critical components for large-scale Battery Energy Storage Systems (BESS), according to people familiar with the development. The move represents a strategic pivot for India’s largest conglomerate as it recalibrates its ambitious green energy timeline in response to tightening export restrictions imposed by Beijing on core clean-tech intellectual property. A Strategic Pivot: From Cell Manufacturing to System Assembly The discussions mark a structural shift in Reliance’s renewable strategy. Originally, the conglomerate intended…

State-run Oil Marketing Companies (OMCs) dealt another blow to consumers on Tuesday, May 19, 2026, increasing retail petrol and diesel prices by up to 90 paise per litre. This marks the second substantial fuel price revision in less than a week, driven by persistent volatility and elevated costs in global crude oil benchmarks. The combined impact of these rapid adjustments has intensified public anxiety over cascading freight charges, commercial transportation overheads, and broader grocery inflation across major metro corridors. City-Wise Retail Fuel Rates Following Tuesday morning’s price revision, retail pump rates across the country’s major urban centers have shifted to…

Information technology stocks stole the show in an otherwise muted trading session on Tuesday, May 19, 2026. Rallies of up to 5% across major tech counters propelled the IT pack higher for the third consecutive day. The Nifty IT index on the National Stock Exchange (NSE) surged over 4% to sit at 29,566, extending its remarkable three-day cumulative gain to 8%. The index had previously notched a 2.5% gain on Monday and a 1.3% rise last Friday. Every single constituent of the 10-share Nifty IT index traded firmly in the green, offering investors a rare defensive cushion against broader macroeconomic…