The Adani Group wants to strengthen its finances after being targeted by short sellers, so it proposes to prepay a $500 million loan that is due to a group of banks next month. In order to buy the cement assets from Holcim Ltd. last year, Adani received a $4.5 billion loan from banks including Barclays Plc, Standard Chartered Plc, and Deutsche Bank AG. On March 9, a part of that debt comes due.

The founder of FTX, Sam Bankman-Fried, spent more time lobbying in Washington D.C. than any other executive, according to the executive director of the Blockchain Association. She also mentioned that SBF testified before Congress multiple times, had detailed proposals with the CFTC, and was actively meeting with members of Congress and staff and even taking them out for drinks.

According to aviation consultancy firm Centre for Aviation India, Indian airlines are expected to place orders for 1500-1700 aircraft in the next two years. Currently, Indian airlines have 700 commercial aircraft in operation and less than 800 on order. The largest contributors are expected to be Air India, led by the Tata Group, & IndiGo, with each expected to place orders for 500 aircraft.

Smallcase reported a 196% increase in losses, reaching INR 76.2 Cr in FY22, due to a significant increase in marketing and promotional expenses. The expenses were INR 51 Cr compared to INR 9.8 Cr in FY21. However, the company's operating revenue rose by 125% to INR 24.8 Cr during the same period, compared to INR 11 Cr in FY21.

The cryptocurrency market has experienced a significant price recovery in the past few months. This price surge is driven by the rise of AI tools such as ChatGPT and Google's Bard. Among the AI-focused altcoins, Near Protocol has seen its native token, NEAR, increase by 15% today.

US wholesale inventories remained almost unaltered in December, indicating that businesses were cautious about placing fresh orders for goods amid a stagnation in sales. Moreover, higher interest rates reduced demand. The Commerce Department reported today that wholesale inventories grew marginally by 0.1% compared to November. Stocks at wholesalers, however, gained 0.9% in November.

Alibaba Group announced today that it is creating a ChatGPT-style tool which is presently under internal testing. With this, the tech giant will join a global race to showcase their speed in generative artificial intelligence (AI) developments. Alibaba's ChatGPT-like dialogue robot focuses on large language models and generative AI for a number of years.

Aviation consultancy firm CAPA's latest report pointed out that Indian carriers are expected to place orders for 1,500 to 1,700 aircraft in the next 1-2 years. Moreover, Air India is likely to go ahead with a potential order for 500 planes. The report further outlined that the Indian aviation market in the post-COVID era is attracting global attention to be earmarked as the most promising one.

SKF India announced today that its consolidated net profit surged by 31% to Rs 116.67 crore in Q3FY23 compared to a consolidated net profit of Rs 88.79 crore in the third quarter of FY22. The auto-component manufacturer's revenue from operations also improved by 11% to Rs 1,077.20 crore in the third quarter of FY23 against Rs 967 crore in the same period of FY22.

Samvardhana Motherson International's consolidated net profit from continuing operations stood at Rs 500.73 crore in Q3FY23 compared to consolidated net profit of Rs 225.95 crore in the year-ago period. Samvardhana Motherson International's consolidated total revenue from continuing operations was Rs 20,226.21 crore compared to Rs 16,117.51 crore a year ago quarter.

Equitas Small Finance Bank's net profit jumped by 57% to ₹170.11 crore in Q3FY23 compared to a net profit of ₹108.11 crore in the year-ago period. Equitas Small Finance Bank's net interest income (which is the difference between interest earned and expended) in the quarter under consideration grew by 19.7% YoY to ₹647.5 crore from ₹540.8 crore.

Pennar Industries' consolidated profit after tax surged by 97.2% to Rs 21.12 crore in Q3FY23 compared to Rs 10.71 crore in the corresponding quarter of the previous financial year. The city-based value-added engineering products and solutions company's net revenues in Q3FY23 stood at Rs 692.22 crore, higher by 29.9% against Rs 532.97 crore in Q3 FY22.

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eBay will dismiss 4% of its workforce or 500 staff as macroeconomic headwinds weigh on the business. The layoffs will provide additional space to invest and develop new roles in high-potential areas, including the latest technologies, customer innovations, and key markets. It will also help eBay to adapt and flex with the changing macro, e-commerce, and technology landscape.

Rane Madras' standalone net sales improved by 34.59% YoY to Rs 526.37 crore in December 2022 compared to Rs. 391.08 crore in December 2021. The company's quarterly net profit zoomed 332.04% to Rs. 33.31 crore in December 2022 from Rs. 7.71 crore in December 2021. Its EBITDA was Rs. 73.50 crore in December 2022, higher by 136.03% from Rs. 31.14 crore in December 2021.