Global News

[ad_1] To ensure easy and adequate credit availability to the MSME sector, the State Bank of India ( SBI ) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. 'MSME Sahaj - End to End Digital Invoice Financing ', provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention. "We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we can give approval in 15-45 minutes," SBI Chairman C S Setty told PTI in an interview. Simplification of the MSME credit is something that the bank is emphasising on and making lending cash flow based backed by the CGTMSE guarantee, he said. This reduces the need for collateral, which would enable a lot of people to come into th...

[ad_1] Microsoft Surface Laptop and Tablets Courtesy: Microsoft Microsoft on Thursday unveiled new Surface computers and shared details on the release of this year's version of Windows 11, including its embedded Copilot AI assistant, during an event in New York. The company introduced the Surface Laptop Studio 2 and the Surface Laptop Go 3, and unveiled enterprise availability for Microsoft 365 Copilot, its supplemental AI tool for core productivity apps like Word and Excel. Microsoft CEO Satya Nadella began the event by speaking about how the company's Copilot AI tools will make a broad impact across its user base for consumers and enterprises. "I mean, it's crazy," he said. "It's kind of like the 90s are back. It's exciting to be in a place where we're bringing some software innovation and really having fun enjoying this entire journey." Rivals such as Atlassian , Google and Salesforce have also been racing to update their existing...

[ad_1] Tiger Woods of the United States and Rory McIlroy of Northern Ireland walk to the 11th fairway during a practice round prior to the 2023 Masters Tournament at Augusta National Golf Club on April 03, 2023 in Augusta, Georgia.  Christian Petersen | Getty Images Sport | Getty Images Tiger Woods and Rory McIlroy's indoor golf league, TGL, has postponed its inaugural season by a year until the start of 2025, the organization said Monday. The decision comes after the roof of the new arena slated to host TGL matches collapsed last week . The league said the power system used during construction of the SoFi Center in Palm Beach Gardens, Florida failed, causing a dome structure to deflate. The accident did not cause injuries or damage the league's golf simulators and other technology, TGL said. But TGL delayed the season, which was expected to start in January, after speaking to key partners. "This decision came after reviewing short-term solutions, potential constructi...

[ad_1] NEW DELHI: Adani Ports and Special Economic Zone Ltd (APSEZ) on Saturday said it has completed the acquisition of Karaikal Port Pvt Ltd (KPPL) pursuant to National Company Law Tribunal (NCLT) approval. Earlier, APSEZ was declared a successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL. Karaikal Port is an all-weather deep-water port in Puducherry with five operational berths, three railway sidings, total land area of over 600 hectares and a built-in cargo handling capacity of 21.5 MMT. "Acquisition consideration of Rs 1,485 crores implies an EV/EBITDA multiple of 8x on the FY23 estimated numbers," APSEZ said in a statement. According to the statement, the port is in proximity to the containerized cargo-originating industrial centres of Tamil Nadu, and the upcoming 9 MMTPA CPCL refinery. APSEZ CEO and whole-time director Karan Adani said, "With the acquisition of Karaikal port APSEZ now operates 14 ports in India. ...

[ad_1] SYDNEY: Index provider MSCI said it has cut the free-float designations of four securities of India's Adani group , a move which analysts have warned could impact their index weightings. MSCI said in a statement it has reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC. The remaining companies' free floats will remain the same. Adani did not immediately respond to a request for comment from Reuters. The four companies for which the free float designation change was announced had a combined 0.4% weighting in the MSCI emerging markets index as of January 30. The changes come into effect on March 1. Billionaire Gautam Adani has seen some $110 billion wiped off the value of seven firms in the group he founded after US short seller Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. Adani has denied any wrongdoing. Analysts had said a change in free float status could affect the weighti...

[ad_1] A Southwest Airlines plane takes off from Hollywood Burbank Airport in Burbank, California, July 25, 2024. Mario Tama | Getty Images Southwest Airlines and American Airlines raised their fourth-quarter forecasts on Thursday, citing strong demand and higher fares, sending shares in the carriers higher. Southwest said in a securities filing that fourth-quarter unit revenue will likely rise between 5.5% and 7% from last year, up from a previous forecast of an increase of no more than 5.5%. The airline said its network changes aimed at culling unprofitable flights are paying off and that demand into next year appears solid. "The Company is encouraged by recent revenue trends and forward bookings, including fourth quarter holiday travel, and currently expects strong revenue trends and tactical initiative performance to carry into 2025," Southwest said. Southwest also said it would complete its first sale-leaseback of aircraft in the first quarter. Read more CNBC air...

[ad_1] Enfimil infant formula, made by Mead Johnson Nutrition Co., sits on display in a supermarket in New York, U.S. Daniel Acker | Bloomberg News | Getty Images Baby formula maker Reckitt Benckiser's Mead Johnson Nutrition has voluntarily chosen to recall certain batches of baby formula powder due to possible bacterial contamination, according to the U.S. Food and Drug Administration. The possibly impacted batches of Nutramigen Powder, an infant formula specially designed for children allergic to cow's milk, were produced in June and distributed throughout the summer. "Based on the limited availability of the remaining stock of this special infant formula, it is believed that much, if not all, of the products recalled in the United States have been consumed," Reckitt said in a statement published by the FDA on Sunday. The company said no "illnesses or adverse events" have been recorded yet but urged consumers who have purchased Nutramigen to check t...

[ad_1] As shoppers look for value, dollar stores might seem to be logical destinations. But that penny-pinching mentality hasn't been enough to lift sales for Dollar Tree and Dollar General . Shares of the deep discounters have plunged so far in 2024. The retailers have each cut their full-year forecasts because of weaker-than-expected sales. And both have had leadership shakeups: Dollar General and its former CEO Jeff Owens parted ways in October 2023, and Dollar Tree CEO Rick Dreiling stepped down Nov. 4. Dollar Tree is also exploring selling off Family Dollar , its more grocery-focused brand. Those results are a sharp turnabout for the dollar stores, which were once Wall Street darlings. The struggles have put scrutiny on the two retailers, which will report quarterly earnings this week. Dollar General and Dollar Tree stores Getty Images Peter Keith, a retail analyst for Piper Sandler, said a challenging mix of factors hurt the retailers. Lower-income customers, who ten...

[ad_1] The Netflix logo is displayed above its corporate offices on January 24, 2024 in Los Angeles, California.  Mario Tama | Getty Images Netflix reported earnings after the bell. Here are the results. Earnings per share:  $4.88 vs $4.74 per share expected by LSEG Revenue:  $9.56 billion vs.9.53 billion expected by LSEG Total memberships : 274.4 million paid memberships expected, according to StreetAccount Advertising has become an increasingly important business model for media companies to boost — or in some cases, achieve — profitability for streaming. Netflix's stock has been uplifted in recent quarters by its push to gain subscribers on its cheaper, ad-supported tier, in addition to its crackdown on password sharing. The company has also begun adding live sports, such as NFL games on Christmas Day over the next three years, a move that will likely attract more ad dollars for the streamer. Netflix had roughly 270 million global subscribers at the end of the first qua...

[ad_1] A banner hanging from on overpass along the southbound lane of I-83 that says, "Deny Defend Depose Health Care 4 All." Lloyd Fox | Baltimore Sun | Tribune News Service | Getty Images Major insurance stocks have fallen more than 6% since their closing prices last Tuesday, the day before the deadly shooting of Brian Thompson, CEO of UnitedHealth Group 's insurance arm, in midtown Manhattan.  That includes UnitedHealth, CVS Health and Cigna , which operate three of the nation's largest private health insurers. Thompson, 50, led UnitedHealthcare, the largest private payer of health insurance benefits in the U.S.  Luigi Mangione , 26, is accused of fatally shooting Thompson outside the Hilton hotel in midtown Manhattan early Wednesday last week, as the CEO headed to UnitedHealth Group's investor day. Investigators have said Mangione was a critic of the health-care industry, a view some Americans sympathized with online in the days after Thompson's d...

[ad_1] Bob Baffert choked back tears and his voice cracked while trying to juggle the feelings of one of his horses winning the Preakness Stakes and another being euthanized on the same track. "This business is twists and turns, the ups and downs," he said. "To win this — losing that horse today really hurt. ... It's been a very emotional day." National Treasure won the Preakness on Saturday in Baffert's return to the Triple Crown trail following a suspension, but it came hours after another 3-year-old colt, Havnameltdown, was put down because of a left leg injury in an undercard race. The victory ended Mage's bid for the Triple Crown in a conflicting scene similar to that of two weeks earlier when he won the Kentucky Derby in the aftermath of seven horses dying in 10 days at Churchill Downs. National Treasure, the 5-2 second choice, held off hard-charging Blazing Sevens down the stretch to win the 1 3/16-mile, $1.65 million race by a head in 1:55.1...

[ad_1] When Dr. Tra'chella Johnson Foy greets her patients, she sits across from them facing away from the computer in the exam room. Then, she pulls out her phone, and asks for permission to record the appointment. "It listens in on our visit so I can pay more attention to you," explains Foy, a family physician at Baptist Health in Jacksonville, Florida, while looking straight at her patient. Foy and other doctors at Baptist Health have been using the DAX app , powered by artificial intelligence, from Microsoft's Nuance division since last year. The program transcribes doctors' and patients' comments, then creates a clinical physician summary formatted for an electronic health record.  Dr. Trachella Johnson CNBC The app frees doctors from having to type up notes during patient visits, and from having to finish them up at night. A practice so common doctors have a nickname for it. "Pajama time — which should be the time where you're getting ready...

[ad_1] Elizabeth Holmes, founder of Theranos Inc., arrives at federal court in San Jose, California, March 17, 2023. Benjamin Fanjoy | Bloomberg | Getty Images Imprisoned Silicon Valley CEO  Elizabeth Holmes  has shaved more months from her initial  11-year-plus sentence  for wire fraud and conspiracy, federal records show, and is due to be released two years earlier than expected. Holmes, 40, has a current release date of Aug. 16, 2032, from a women's federal prison in Bryan, Texas, according to the Bureau of Prisons. Last July, her expected  release date was listed  as Dec. 29, 2032. The disgraced founder of failed blood-testing startup Theranos entered prison in May 2023 after she was handed a  135-month prison sentence  for defrauding investors out of hundreds of millions of dollars. While the BOP declined to comment specifically about Holmes' status for privacy and security reasons, the agency said in a statement that "projected release dates are calculated with ...

[ad_1] Apple CEO Tim Cook, left, and Eddy Cue, Apple's senior vice president of services attend the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 10, 2019. Patrick T. Fallon | Bloomberg | Getty Images Microsoft offered to sell its Bing search engine to Apple in 2018, Google said in a court filing earlier this month. The document, from Google's antitrust case against the U.S. Justice Department, was unsealed on Friday. The legal battle over whether Alphabet has a monopoly in web search advertising touches on key agreements Google has in place with Apple and Android phone makers to ensure exclusivity of its search engine. In 2021, Google spent more than $26 billion to keep its search engine the default, according to a slide shown during the trial in October. Google has been trying to prove in the case that it competes fairly. In the filing earlier this month, Google argued that Microsoft pitched Apple in 2009, 2013, 2015, 2016, 2018 and 2...