Walt Disney anticipates non-cash pre-tax impairment charges ranging from $1.8 billion to $2.4 billion for the quarter ending March 31 due to the write-down of net assets and goodwill at Star India following its removal from the company, according to a company filing to the United States Securities and Exchange Commission, submitted on Wednesday.

The impairment charges stem from the merger agreement between Walt Disney and Reliance Industries Ltd (RIL) aimed at creating an $8.5-billion media entity by combining Star India and Viacom18.

The Union Cabinet on Thursday approved Rs 1.26 trillion worth of investments in three semiconductor plants, including a Tata group proposal to build the country’s first major chip fabrication facility at Dholera in Gujarat.

It also cleared a separate Tata proposal for a chip assembly plant in Morigaon, Assam, and another by CG Power in Sanand, Gujarat. The work on all three projects is expected to begin in the next 100 days.

Amid tension in Sandeshkhali, Trinamool Congress (TMC) leader Sheikh Shahjahan was arrested by West Bengal police on Thursday morning in connection with allegations of 'sexual assault and land grab,' officials said.

"Shahjahan was arrested from Minakhan in the North 24 Parganas district," Minakhan SDPO Aminul Islam Khan told ANI.

The proposal of Israeli semiconductor company Tower is likely to get approval from the Centre today, according to a report by The Economic Times (ET). This is likely to be India's first pure-play chip foundry.

Along with Tower, the Cabinet is also likely to approve the proposals of the Tata Group and the joint venture between HCL Group and Foxconn Group. Tata is likely to set up an assembly, testing, marking and packaging (ATMP) unit in Assam. Earlier, it had also announced its plans to set up a fab in Gujarat.

The Reserve Bank of India (RBI) on Wednesday conducted two overnight variable rate reverse repo (VRRR) auctions of Rs 50,000 crore and Rs 25,000 crore as money market rates fell below the repo rate, said market participants.

The overnight weighted average call rate settled at 6.43 per cent on Wednesday. Repo rate currently stands at 6.50 per cent.

Gensol Electric Vehicles Pvt. Ltd. (GEVPL) said on Wednesday it has received certification and approval for its electric two-seater car from the Automotive Research Association of India (ARAI).

GEVPL is a subsidiary of BSE-listed Gensol Engineering Ltd, one of India’s largest green energy engineering, procurement and construction (EPC) and advisory companies. GEVPL is entering EV manufacturing for the first time.

CtrlS Datacenters Ltd, Asia's largest Rated-4 datacenter operator, has unveiled their upcoming datacenter park in Chennai – their fifth hyperscale Datacentre Campus in India following Mumbai, Hyderabad, Noida, and Bangalore. CtrlS Datacenters will invest Rs 4,000 crore in the Chennai Datacentre Park, across phases.

The company is expected to create about 500 direct jobs and over 9,000 indirect jobs. Located in the Ambattur industrial area, the campus will include two datacenter buildings with a combined built-up area of almost 1 million square feet, and a 72 megawatt (MW) IT load capacity.

India's top conglomerate Reliance Industries and Walt Disney on Wednesday announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment juggernaut far ahead of rivals in the world's most populous nation.

Reliance, led by Asia's richest man Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake. Disney will hold about 37%, the companies said in a joint statement.

Bitcoin inched close to $60,000 on Wednesday, rising 39.7 per cent in February, which would mark its largest monthly rally since December 2020. Bitcoin was up 4.3 per cent and was trading at $59,244, its highest since December 2021.

In the last four months, the price of the token has doubled. Moreover, the value of all the Bitcoin in circulation has topped $2 trillion this month for the first time in two years. During the bear market in 2022, when the FTX and other crypto platforms collapsed, the cap had fallen to about $820 billion.

Indian IT and consulting services firm Tech Mahindra on Wednesday signed a Memorandum of Understanding (MoU) with Taiwanese Pegatron to develop private 5G solutions for enterprises. The two companies signed the MoU at the ongoing Mobile World Congress 2024 (MWC 2024).

"The partnership between the organisations will explore mutually beneficial opportunities in the fast-growing private 5G space, positioning it as a catalyst for business growth," the companies said in a statement.

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