Intel Corp. plans to eliminate thousands of jobs to reduce costs and fund an ambitious effort to rebound from an earnings slump and market share losses.

The workforce reduction may be announced as early as this week, according to people familiar with the company’s plans, who asked not to be identified because the information isn’t public.

The Securities and Exchange Board of India (Sebi) opposes delegating the responsibility of conducting know-your-client (KYC) formalities to individual entities due to fears of “Paytm-like contamination”.

In response to a question about centralising KYC across the financial system, Sebi Chairperson Madhabi Puri Buch said, “The current KYC registration agency (KRA) system is widely acknowledged and robust. If you have a validated KYC by a KRA, you don’t need to repeat the KYC process in the capital markets.”

Adani Energy Solutions, the conglomerate’s transmission and distribution entity, on Tuesday said it has launched a qualified institutional placement (QIP). According to people privy to the matter, the company has raised $ 1billion from this round as the issue was over-subscribed thrice.

QIP is a fund-raising tool for companies, through which they issue equities, or other equity convertible securities to qualified institutional buyers.

The death toll in the Kerala landslides incident has risen to 70 and around 116 people were injured in the landslides that hit the Meppadi area of Wayanad. A total of three camps have been set up in Wayanad, given the situation. 12 are undergoing treatment in Kalpetta Government Hospital and 77 are in WIMS Wayanad. Eight deaths were reported in WIMS and one each in Meppadi Community Health Centre and Vythiri Taluk Hospital.

Around 27 injured people are undergoing treatment at Meppadi CHC. 35 were reported dead and 27 are undergoing treatment at Bathery Taluk Hospital.

Ola Electric is gearing up for its initial public offering (IPO), which will open for subscription on August 2. The grey market premium (GMP) for the company's shares is estimated at Rs 12-13, indicating a potential premium of 16 per cent over the issue price.

The IPO price band is established at Rs 72-76 per share.

Public sector Indian Bank has targeted to recover about Rs 7,000 crore during the current financial year, a top official said on Tuesday.

The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time, the bank's Managing Director and CEO Shanti Lal Jain said here.

The government has garnered Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23, a 15 per cent growth over the previous year, Parliament was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23 in the Rajya Sabha.

Fintech firm One97 Communications, which owns Paytm brand, sees no impact of lower incentives earmarked by the government in the budget for promoting small ticket digital transactions, a top official of the company said.

Speaking on the sidelines of launching "Card NFC Soundbox" machine, Paytm CEO Vijay Shekhar Sharma denied any impact of lower allocation of incentives to promote small ticket digital transactions on his guidance over profitability this fiscal year.

Two persons were killed and 20 injured as at least 18 coaches of the Howrah-Mumbai Mail derailed in Jharkhand's Seraikela-Kharsawan district early on Tuesday, officials said.

The accident occurred at 3.45 AM near Barabamboo, around 80 km from Jamshedpur, under the Chakradharpur Division of the South Eastern Railway (SER), they said.

JSW Energy on Monday said its arm JSW Neo Energy has secured a 192-MW hybrid power project, including an additional 96 MW under the greenshoe option from Gujarat Urja Vikas Nigam.

The capacity is awarded against tariff-based competitive bids invited for setting up a 500 MW Grid connected Hybrid Power Projects (Phase II), along with a greenshoe option for additional capacity up to 500 MW, a company statement said.

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