Ratan Tata, chairman of Tata Trusts, has set up another personal endowment trust, The Economic Times reported on Friday. It cited legal experts as saying that the aim behind creating the Ratan Tata Endowment Foundation could be estate planning, with the proceeds from the corpus likely to go to charities.

The trust was incorporated in September and it has Raghvan Ramachandra Shastri and Burzis Shapur Taraporevala as directors.

Electric vehicle maker Tesla cut the prices of its top-selling vehicles for the US market on Friday, news agency Reuters said. The automaker's website showed the price cuts on the Model 3 and Model Y, ranging between 6 per cent and 20 per cent on the prices that were held before the discount.

This comes after the company announced another round of price cuts in China earlier this month.

Tata group is considering setting up plants in India and Europe to produce battery cells for electric vehicles (EV), the chief financial officer of its auto unit told Reuters in an interview.

With total sales of 50,000 electric cars to date, India's Tata Motors dominates the country's EV market and has outlined plans to launch 10 electric models by March 2026. The company expects electric models to make up a quarter of its total sales by 2025 from around 8% now.

After its free live streaming of FIFA World Cup on the JioCinema app last year, Reliance is reportedly looking to disrupt the live sports streaming market as it plans to do digital broadcast of the 2023 season of Indian Premier League (IPL) for free.

This development comes after Viacom18 tested a similar model, broadcasting the FIFA World Cup 2022 for free on Reliance's JioCinema App. The matches were streamed on the app, as well as on TV channels such as Sports18 and Sports18 HD, making it a hit.

Godrej Properties on Friday said it has acquired a 60-acre land in Chennai to develop a residential project, as it seeks to expand business amid rise in housing demand.

In a regulatory filing, the company informed that it has purchased the land on an outright basis in the micro market of Oragadam Junction, Chennai.

The company did not disclose the deal value.

Global recession fears, increased inflation and higher interest rates have had a major impact on PC demand and the global PC shipments logged 65.3 million units in the fourth quarter of 2022, a 28.5 per cent decrease from the fourth quarter of 2021, a report showed on Thursday.

According to Gartner, this marks the largest quarterly shipment decline since Gartner began tracking the PC market in the mid-1990s.

Pune’s Labour Commissioner Office has sent a notice to Amazon after a group alleged the ecommerce giant had illegally implemented a voluntary separation policy and layoffs. Amazon was asked to be present at the commissioner’s office on January 17.

The Nascent Information Technology Employees Senate (NITES) said in a complaint that according to the Industrial Dispute Act an employer cannot, without prior permission from the appropriate government, lay off an employee on the muster rolls of the establishment.

India’s oldest conglomerate, Tata Group, is planning to set up electric vehicle cell-manufacturing operations in Europe as it tries to accelerate its British marque unit’s shift to battery-powered cars.

Jaguar Land Rover and Tata Motors will be the anchor customers for the facility, which will also sell battery cells to the wider market, Tata Motors Chief Financial Officer P.B. Balaji said in an interview at the India Auto Expo taking place this week on the outskirts of New Delhi.

India's leading digital payments and financial services company Paytm will be a key beneficiary of India's Unified Payments Interface (UPI) incentive scheme, brokerage firm Morgan Stanley said on Thursday.

The Union Cabinet on Wednesday approved the incentive scheme of Rs 26 billion for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for FY23, compared with Rs 15 billion in FY22.

The Indian auto manufacturer Mahindra has been named the fastest-growing brand in South Africa for the year 2022 as the company's local subsidiary set several records in the last year, according to a report by the National Association of Automobile Manufacturers of South Africa (NAAMSA).

The report said that 'Mahindra SA' increased its sales volume by a massive 78 per cent compared to 2021, the highest of all the vehicle brands that report their sales to NAAMSA and more than five times the market average.

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