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- Business news update; Share Market, Gold Silver, Petrol Diesel, CCPA, Meta, X, Amazon, Flipkart
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Yesterday’s big news was related to Amazon-Flipkart. The Central Consumer Protection Authority (CCPA) has issued notices to 13 e-commerce companies such as Amazon-Flipkart for illegal sale of walkie-talkie devices on their platforms.
At the same time, fake news and miss-information are being spread on social media platforms amid increasing tension between India and Pakistan. To prevent this, the central government is pressurizing the meta and X (Twitter).
Today’s headlines before tomorrow’s big news, which will be seen …
- The stock market may see a decline today.
- There has been no change in the price of petrol and diesel.
Now read the big news of tomorrow …
1. CCPA action on 13 e-commerce companies including Amazon-Flipkart: Send notice for illegal sale of walkie-talkie amid Indo-Pak tension, Authority will also bring guidelines
Amid the situation of India-Pakistan war, the Central Consumer Protection Authority (CCPA) has issued notices to 13 e-commerce companies such as Amazon-Flipkart for illegal sale of walkie-talk devices on their platforms. CCPA gave this information in the official statement on Friday (May 9).
The CCPA said that 13 notices have been issued to the major digital marketplace against the illegal listing and sales of Wockey-Talky on e-commerce platforms. These platforms are Amazon, Flipkart, Misho, OLX, Trade Inzia, Facebook, Indiamart, Vardanmart, Geomart, Krishnamart, Chimiya, Talk Pro Walky Talky and Mask Man Toy.
Click here to read the full news …
2. Government is pressurizing Meta-X to stop fake news: Instructions to remove more than 1,000 posts daily; Yesterday 8000 x account was ordered to close
Fake news and miss-information are being spread on social media platforms amid increasing tension between India and Pakistan. To prevent this, the central government is pressurizing the meta and X (Twitter).
According to media reports, the central government is instructing to remove more than 1,000 posts daily from social media under the IT Act. For this, the Ministry of Electronics and Information Technology has also held a high-level meeting with social media companies.
Click here to read the full news …
3. Japanese company SMBC, purchasing 20% stake in Yes Bank: Deal was done for ₹ 13,483 crore; SBI will sell its 13.19% share for ₹ 8,889 crore
Japanese company Sumitomo Mitsui Banking Corporation (SMBC) has announced to buy a 20% stake in the private sector bank of India. The deal has been done at Rs 13,483 crore with a price of ₹ 21.5 per share. In this deal, SBI will sell its 13.19% stake, which is value of Rs 8,889 crore.
The remaining 6.81% stake will be purchased from 7 banks like Axis Bank, Kotak Mahindra, ICICI and HDFC for Rs 4,594 crore. Yes Bank gave information about this in exchange filing on Friday. After the news of the deal, Yes Bank shares climbed 10% to close at ₹ 20.05.
Click here to read the full news …
4. Swigy deficit increased by 2 times to ₹ 1,082 crore: Revenue increased 45% in the fourth quarter, company’s stock dropped 32% in a year
On the January-March quarter of online food delivery platform Swiggi increased the net loss i.e. 95% on the annual basis, or about ₹ 1,082 crore. The company had a loss of ₹ 554 crore in the same quarter of last year.
At the same time, the company’s revenue increased by 45% to Rs 4,410 crore in the fourth quarter from the operations. It was Rs 3,045 crore in the same quarter of the last financial year. The earnings from selling goods and services are called revenue or revenue. Swiggy released the results of the fourth quarter (Q4FY25) of FY 2024-25 on Friday (May 9).
Click here to read the full news …
5. Satellite Internet providers may levy 4% extra tax: TRAI recommended the government; Urban consumers will have to pay an additional charge of ₹ 500 annually
4% additional fees can be imposed on companies launching satellite internet service in India. On Friday, the Telecom Regulatory Authority of India i.e. TRAI recommended the government to increase tax on spectrum prices.
According to this, companies like Elon Musk’s Starlink will have to pay 4% tax on their annual revenue to the government. Also, every customer in urban areas will have an additional charge of ₹ 500 annually. There will be no fees in rural areas.
Click here to read the full news …
Tomorrow, see who should be the top-10 richest in the world…
Know the condition of tomorrow’s stock market and gold and silver …
Know the latest price of petrol-diesel and gas cylinders …
