Business News

A Delhi court denied bail to Anil Ambani's close aide Amitabh Jhunjhunwala in ₹11,000 crore loan fraud case, stating he may influence witnesses if released. ED said Jhunjhunwala diverted funds claimed to be corporate loans to Anil Ambani's companies "in blatant disregard to prudential lending norms". Jhunjhunwala sought bail on medical grounds claiming he had a history of medical conditions.

OpenAI CEO Sam Altman said he is a "mega Apple fanboy" and was "very sad" when Apple sued his company in July. The lawsuit alleged OpenAI was "stealing Apple's trade secrets and confidential information". Altman dismissed the lawsuit and said, "We don’t want any company's IP, and we don't want people who...take a company's IP and bring it to us."

Jaguar Land Rover (JLR) is reportedly planning to cut up to 4,000 UK jobs over the next two years as it looks to reduce costs amid difficult global market conditions. The company has opened a voluntary redundancy programme for salaried employees and management staff. JLR aims to save about $2.30 billion and lower its break-even point to 3,00,000 vehicles.

State-owned National Mineral Development Corporation will begin commercial production of thermal coal by October to December, Chairman Amitava Mukherjee said. He added that NMDC aims to sell around 1 MT of coal within FY27. "Right now, we're 99.9% an iron ore company. We aim to help the growing industries in India with maximum of their mineral needs," Mukherjee further said.

India's biggest lender SBI plans to hire about 12,000 employees and add around 250 new branches in the ongoing financial year, stated SBI Chairman CS Setty. After hiring 1,500 IT specialists last fiscal, SBI doesn't plan to hire more from the sector. In the previous fiscal, SBI hired 25,633 employees including 4,640 officers, 19,340 associates, and 1,653 contractual staff.

Wipro is expanding TimeScope, a productivity-monitoring platform installed on company-issued laptops and desktops, after initially deploying it to around 5,000 employees in May. The system tracks login duration, inactivity and time spent on work applications, with dashboards available to employees and managers. The move also raises questions about employee privacy.

BEML has won an additional ₹180.60 crore order from Integral Coach Factory to manufacture and supply Vande Bharat sleeper trainsets. The contract strengthens BEML's position in India's growing Vande Bharat programme, which is expanding from daytime chair-car services to long-distance overnight travel. Indian Railways is planning to introduce more than 250 Vande Bharat sleeper trains across India.

Petrol and diesel prices remained unchanged across major Indian cities on Sunday, September 6, despite crude oil prices reaching six-week highs. Petrol costs ₹102.12 per litre in Delhi, ₹111.18 in Mumbai and ₹110.93 in Bengaluru. Diesel is priced at ₹95.20, ₹97.83 and ₹98.80 per litre respectively. Global oil markets remain volatile amid US-Iran tensions.