जुलाई में थोक महंगाई घटकर 2.04% पर रही: भारत में पहला गूगल फोल्ड फोन लॉन्च, बायजूस को सुप्रीम कोर्ट से झटका- BCCI के साथ समझौते पर रोक

Yesterday’s big news was related to wholesale inflation and Google. Wholesale inflation has come down to 2.04% in July. In June, it had increased to 3.36%, which was the highest level of inflation in 16 months.

Tech company Google launched the Pixel 9 series in its annual event ‘Made by Google’. The company launched a total of 4 smartphones in it. The company also launched the first foldable phone in India.

At the same time, in a blow to edtech company Byju’s, on August 14, the Supreme Court stayed the NCLAT order in which the NCLAT had accepted the agreement between the firm and BCCI.

Today’s headlines before tomorrow’s big news…

Now read yesterday’s big news…

1. Wholesale inflation fell to 2.04% in July: Prices of daily essential goods decreased, inflation was 3.36% in June

Wholesale inflation has come down to 2.04% in July. In June, it had increased to 3.36%, which was the highest level of inflation in 16 months. Whereas, wholesale inflation was at 2.61% in May. Wholesale inflation figures for the month of July were released on 14 August.

Earlier, retail inflation figures were released on August 12. Retail inflation has come down to 3.54% in the month of July. This is the lowest level in 59 months. Inflation was 3.21% in August 2019. Inflation had come down due to the decrease in the prices of food items.

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2. Google launches first foldable phone in India: Pixel 9 Pro Fold priced at ₹1.30 lakh, Watch 3 and Buds Pro 2 also introduced

Tech company Google has launched the Pixel 9 series at the annual event ‘Made by Google’ held late night on Tuesday (August 13). This series of the company includes Pixel 9, Pixel 9 Pro, Pixel 9XL and Pixel 9 Pro Fold. Apart from this, Pixel Watch 3 and Buds Pro 2 were also introduced in variable devices.

Pixel series phones are equipped with many AI features. These include Pixel Screenshot, Gemini AI, Gemini Live, Pixel Studio, Circle to Search, AI Weather Summary and Call Notes. Google will provide support on its phones for 7 years. This will include OS updates, security updates, feature drops and AI innovations.

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3. Supreme Court stays Byju’s-BCCI deal: NCLAT had approved the settlement, the case is related to Team India’s jersey sponsorship

In a setback to edtech company Byju’s, the Supreme Court on August 14 stayed the NCLAT order that allowed the settlement between the firm and BCCI. A bench headed by CJI DY Chandrachud said that the Rs 158 crore paid by Byju’s to BCCI will be kept in a separate escrow account.

The next hearing in this case is scheduled for August 23. US-based Glass Trust, representing some lenders of the Byju’s Group company, filed an appeal before the Supreme Court on August 7. In this appeal, the tribunal’s decision was challenged, in which Byju’s and BCCI were allowed to settle the payment matter.

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4. Mauritius Financial Commission responded to Hindenburg’s allegations: Said – do not allow creation of shell companies, funds linked to SEBI chief are not Mauritius based

The Financial Services Commission (FSC) of Mauritius has responded to the allegations of Hindenburg Research. The FSC said in a statement that Mauritius does not allow the creation of shell companies. Not only this, it should not be labeled as a ‘tax haven’.

As the regulator for the non-banking financial services sector and global business in Mauritius, the FSC also highlighted the strength of its legislative framework. “Mauritius has a strong framework for global business companies,” the FSC said.

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5. Ola posts Rs 347 crore loss in Q1: Electric two-wheeler company’s revenue rises 32%; stock surges 45% after listing

India’s largest electric two-wheeler manufacturer Ola Electric Mobility has suffered a net loss (consolidated net loss) of Rs 347 crore in the first quarter of FY 2024-25. The company had suffered a loss of Rs 267 crore in the same quarter a year ago. The company’s loss has increased by 30% on an annual basis.

Talking about the consolidated revenue from the company’s operations, it was Rs 1644 crore in the April-June quarter. It has increased by 32.26% on an annual basis. In the same quarter a year ago, the company had generated a revenue of Rs 1243 crore. The amount received from selling goods and services is called revenue.

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6. SpiceJet profit down 20% to Rs 158 crore: Revenue also down 15% in Q1, stock down 9% this year

Debt-ridden airline SpiceJet has reported a net profit (consolidated net profit) of Rs 158 crore in the first quarter of the financial year 2024-25. It has declined by 20% on a year-on-year basis (YoY). The company had a profit of Rs 198 crore in the same quarter a year ago.

Consolidated revenue from SpiceJet’s operations stood at Rs 1,708 crore. It has declined by 15% on an annual basis. In the same quarter a year ago i.e. the first quarter of FY24, the revenue was Rs 2,004 crore. The amount received from selling goods and services is called revenue.

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