Skip to content
Search

Latest Stories

Troubled Jet Airways Shares Climb 18 Per Cent Amid Report Goyal Likely To Step Down

The shares of India’s financial crisis-hit airline, Jet Airways climbed 18 per cent on Monday (14) amid news that the founder and chairman of the airline Naresh Goyal was likely to move out of the board to give up majority shares owned by him.

Jet Airways shares on India’s benchmark Bombay Stoke Exchange (BSE) opened at Rs 254.80 and reached an intraday high of Rs 297 before closing at Rs 294.40 on Monday (14).


Citing sources, CNBC TV18 in its report stated that the airline was likely to give its nod for a resolution plan with its banks this week and the founder of the airline would cut his 51 per cent stake to 20 to 25 per cent and agree to his voting share being capped at 10 per cent, in a move to lift the airlines from crisis.

The media report has also said that Etihad may pump capital into the airline and raise its stake from 24 per cent it presently owns.

The airline in January said it had defaulted on debt payments on a consortium of Indian banks and the jet was in discussion with the banks led by State Bank Of India (SBI). The airline is in a turbulent situation and owes money to pilots, lessors, and vendors.

More For You

Tesco Clubcard Changes: Update Your App Before the Deadline

The digital Clubcard offers convenience and flexibility

Getty

Tesco Clubcard changes: Customers urged to update app before Monday deadline

Tesco has issued an urgent call for action to millions of its Clubcard users, advising them to update their Tesco Shopping & Clubcard app before Monday, 31 March 2025. The supermarket giant is rolling out an important update to improve data protection and online security, and failure to update the app by the deadline will leave customers unable to access their digital Clubcard benefits.

Update to ensure enhanced security

The upcoming changes are being implemented to enhance the security of customer data and improve overall protection. Tesco has highlighted the importance of this upgrade, as it seeks to safeguard customer information and keep their online shopping experiences secure.

Keep ReadingShow less
OpenAI Restricts ChatGPT’s Image Feature After Viral Ghibli Trend

Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources

Getty

OpenAI limits ChatGPT’s image generation feature amid viral Ghibli image trend

OpenAI CEO Sam Altman has announced temporary limitations on the company’s image generation feature in response to overwhelming demand driven by a viral trend. On Thursday, Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources, particularly its reliance on GPUs (graphics processing units). Altman revealed that the surge in demand for ChatGPT’s image generation tool has led to significant strain on the company’s infrastructure, prompting the introduction of temporary speed limits for users.

In a post on X (formerly Twitter), Altman shared the company’s response to the unexpected demand, stating, “It’s super fun seeing people love images in ChatGPT, but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient. Hopefully won’t be long! ChatGPT free tier will get 3 generations per day soon.”

Keep ReadingShow less
UK-business-district-Getty
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)

Economic growth in 2024 slightly higher than estimated: ONS

THE UK economy grew slightly more than first estimated in 2024, according to official data released on Friday, providing a small boost for the government after it revised down its growth forecast for 2025.

The Office for National Statistics (ONS) said gross domestic product expanded by 1.1 per cent in 2024, up from an initial estimate of 0.9 per cent.

Keep ReadingShow less
Sri Lanka posts five per cent GDP growth as it ends years of economic decline

Sri Lanka's president Anura Kumara Dissanayake

Sri Lanka posts five per cent GDP growth as it ends years of economic decline

CASH-STRAPPED Sri Lanka’s economy grew by five per cent in 2024, marking the first full year of expansion since its unprecedented meltdown in 2022, official data showed last Tuesday (18).

The last quarter of 2024 saw the economy expand by 5.4 per cent, bringing the full calendar year’s GDP growth to five per cent, compared to a contraction of 2.3 per cent in 2023.

Keep ReadingShow less
Donald Trump

Speaking from the Oval Office, Trump said, 'What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the US.'

Getty Images

Trump imposes 25 per cent tariffs on foreign-built cars

US president Donald Trump has announced a 25 per cent tariff on imported cars and auto parts, escalating trade tensions with key partners.

The new duties take effect on 3 April and apply to foreign-made cars and light trucks, with additional levies on key auto parts set to follow within the month.

Keep ReadingShow less