Paytm’s 75% slump is world’s worst for large IPOs in a decade: Report - Hindustan Times
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Paytm shares crashed more than 27 per cent on the listing day on November 18.

Paytm’s 75% slump is world’s worst for large IPOs in a decade: Report

One 97 Communications Ltd., the operator of India's largest digital-payments provider known as Paytm, has capped the worst first-year share plunge among large IPOs over the past decade -- and the pain is worsening. The dive is the steepest first-year slide globally among IPOs that raised at least the same amount since Spain's Bankia SA's 82% drop in 2012, data compiled by Bloomberg show.

Boeing COO Stephanie Pope, who has been appointed to lead Boeing Commercial Airplanes, is seen.

New Boeing chief Stephanie Pope says company faces 'pivotal moment'

Boeing's new commercial airplane unit head, Stephanie Pope, acknowledges a "pivotal moment" for the company amid quality concerns post a 737 MAX 9 incident. Boeing CEO Dave Calhoun to leave by year-end; potential replacement Larry Culp focused on GE Aerospace. FAA grounded MAX 9, ordered quality plan. Pope emphasizes prioritizing safety and quality. FAA and Boeing to set milestones by end of March.

A man walks outside a branch of Axis Bank

Axis Bank credit card users hit by fraudulent international transactions

Axis Bank customers faced fraudulent overseas transactions on credit cards, with unauthorized purchases at e-commerce sites. The bank denies a data breach, stating limited impact. Fraudsters obtained card numbers and expiry dates for transactions without OTP or CVV. Bank replaces cards, refunds money, and informs RBI. No immediate knowledge of similar incidents in other banks. Stock closes down 0.50% at Rs 1,048.30 on BSE.

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StanChart Sees $30 Billion of Added Inflows Into Indian Bonds

India's bond market expects $30 billion in additional inflows post inclusion in global index in June, says Standard Chartered. Global funds have already added $10 billion since the announcement. Indian bond yields have fallen, and foreign investors are exploring various investment routes in the country.

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It's a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits

Global cocoa supplies are dwindling due to changing climate patterns in West Africa, impacting chocolate prices. Farmers struggle with lower yields and higher costs, while big confectionery companies like Hershey and Mondelez raise prices to maintain profits. Consumers may face price spikes on chocolate this Easter. Authorities are promoting farming education to mitigate climate change effects. Small chocolate businesses are hit hard by rising cocoa prices.

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3 Cryptocurrencies That Will More Than Triple Your Investment in Weeks: Dogecoin (DOGE), Retik Finance (RETIK), and Pepe Coin (PEPE)

Cryptocurrencies like Dogecoin, Retik Finance, and Pepe Coin offer potential for significant returns. Retik Finance stands out with its utility-driven approach in decentralized finance, while Dogecoin defies expectations with its community following. Pepe Coin, based on the Pepe the Frog meme, has become successful despite lacking unique utility. Retik Finance is highlighted as a top choice for investors due to its innovative approach and potential for sustained growth.

Stock brokers monitor share prices on computers during a trading session at the Pakistan Stock Exchange (PSX) in Karachi.

Pakistan benchmark share index hits record high. Here's why

Pakistan's stock market hits all-time high after IMF agreement for more financial aid. The KSE-100 index reached 67,200.82 points, with positive news on privatisation and IMF driving foreign and local institutional buying. The agreement could release $1.1 billion to Pakistan, with talks for a longer bailout and policy reforms ongoing under Prime Minister Shehbaz Sharif's government.

Dave Calhoun speaks during a press conference.

How Boeing's leadership was 'fired' by its own customers

Boeing's top leadership, including CEO Dave Calhoun, was ousted after a revolt by U.S. airline bosses following the Jan. 5 door plug blowout on an Alaska Airlines 737 MAX 9. The shake-up was prompted by airlines demanding deeper changes and a clearer strategy from Boeing. The departure of key executives has left airlines facing uncertainty over jet supplies amid ongoing production delays.

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Japanese Markets Face Risks as Fiscal Year-End Falls on Easter

Risks are mounting for Japan's currency, stocks, and bonds as fiscal year-end coincides with many global markets closing for Easter. The Federal Reserve's inflation measure due Friday could impact US interest rates, potentially affecting yen-dollar moves. Japanese markets may face choppy trading, with concerns about intervention, declining liquidity, profit-taking, Nikkei rebalancing, and bond index fluctuations. US markets reopen Monday, but other major economies remain closed.

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What is the economic impact of the Baltimore bridge collapse?

Businesses are racing to avoid economic impacts after a cargo ship hit a major bridge in Baltimore, suspending vessel traffic. The port handles $100-$200 million in value daily, with concerns about supply chain disruptions. Cargo may divert to other ports like New York and New Jersey, but experts believe the impact can be managed due to nearby ports' capacity. Sectors like automobiles could face challenges.

Economist and psychologist Daniel Kahneman

Nobel-winning economist and psychologist Daniel Kahneman dies at 90

Renowned psychologist Daniel Kahneman, known for his groundbreaking work in behavioral economics, has passed away at the age of 90. His research on decision-making and biases revolutionized the fields of psychology and economics. Kahneman's collaborations with Amos Tversky led to significant insights, including the development of prospect theory. His bestselling book, "Thinking, Fast and Slow," offered practical advice for making better decisions. Kahneman's contributions have left a lasting impact on the understanding of human behavior and decision-making processes.

H&M logo is seen on a shop in Riga, Latvia, The company's sales fell by two percent to 53.7 billion kronor.

H&M's net profit doubles in 1st quarter: ‘Planning as per challenging situation’

H&M's net profit more than doubled in Q1, reaching 1.2 billion kronor, due to cost control efforts. Operating profit tripled to 2.1 billion kronor, exceeding analyst forecasts. Sales dipped by 2%, but showed improvement in February and March. New CEO Daniel Erver aims for profitable growth and a 10% operating margin for 2024.

Japanese yen and US dollar banknotes are seen with a currency exchange rate graph in this illustration.

Japanese Yen hits 34-yr low ahead of key US inflation test

The dollar strengthened as the Japanese yen hit a 34-year low, prompting concerns of intervention. Market jitters persist as Japan warns against speculative moves. BOJ policymaker hints at policy normalization, pushing the dollar higher. Other Asian currencies weaken, with focus on U.S. core inflation data. Euro remains stable, while the Swiss franc falls to a four-month low. U.S. dollar index up 3% for the quarter. Sterling steady, with BOE policymaker cautious on rate cuts.

A man walks past Alibaba Group's logo at its office building in Beijing, China.

Alibaba scraps Cainiao IPO plans, proposes acquisition: ‘Poor market conditions’

Alibaba Group Holding Ltd. has decided to cancel the IPO for its Cainiao logistics arm due to poor market conditions, potentially missing out on raising over $1 billion. This marks the second time Alibaba has scrapped a high-profile debut for one of its main businesses. The decision reflects broader market uncertainty in China, with the company also facing challenges from competitors like PDD and ByteDance.

Reserve Bank of India

India's current account deficit dips to $10.5 billion in October-December: RBI

India's current account deficit decreased to USD 10.5 billion in the October-December quarter, with net FDI inflow at USD 8.5 billion. Foreign exchange reserves saw an accretion of USD 6.0 billion. Services exports rose by 5.2%, helping cushion the deficit. Foreign direct investment recorded a net inflow of USD 4.2 billion, while foreign portfolio investment saw a net inflow of USD 12.0 billion.

Gautam Adani described the opening of the Adani Green Energy Gallery at the Science Museum in UK as red-letter day.

London's Science Museum opens Adani-sponsored green energy gallery: What Gautam Adani said

Adani Group Chairman Gautam Adani celebrates the opening of the Adani Green Energy Gallery at the Science Museum in the UK, emphasizing the importance of renewable energy in combating climate change. The gallery showcases the past, present, and future of energy innovation, urging visitors to consider their role in shaping a sustainable future. Designed by Unknown Works, the gallery promotes sustainability through its design and exhibits.

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