Facing regulatory roadblocks, SoftBank drops sale of Arm to Nvidia
SoftBank Group Corp shelved the sale of Arm Ltd to U.S. chipmaker Nvidia Corp due to regulatory hurdles, the companies said, marking the collapse of what would have been a record deal for the industry valued at as much as $80 billion.
Arm named a new CEO on Tuesday who it said would help the British firm seek a public listing before March 2023. Read more here
PM says family-run parties biggest threat to democracy, slams Congress
Dynastic parties are the biggest threat to India's democracy, Prime Minister Narendra Modi said on Tuesday as he launched an all-out attack on the Congress and held it responsible for a host of issues, including the Emergency, the anti-Sikh riots, caste politics and the exodus of Pandits from Kashmir.
Replying to the debate on the motion of thanks to the president's address in the Rajya Sabha, the prime minister, who highlighted his government's achievements in various sectors, said the Congress is creating hurdles in the country's development as an opposition party too. Read more here
Airtel Q3 results: Net profit falls 3% to Rs 830 cr, revenue rises 13%
Telecom major Bharti Airtel on Tuesday reported 3% decline in consolidated net profit attributable to owners at Rs 830 crore for the quarter ending December 31, 2021. It earned net profit of Rs 854 crore in the year-ago period.
Airtel reported a 12.6% rise in third-quarter revenue, helped by recent tariff hikes and subscriber additions.
The company's consolidated revenue from operations for the quarter ended Dec. 31 climbed to Rs 29,867 crore from Rs 26,518 crore a year ago. Read more here
India summons South Korean envoy over Hyundai Pakistan post on Kashmir
India has summoned the South Korean ambassador over the "unacceptable" social media post by Hyundai Pakistan on the so-called Kashmir solidarity day and bluntly conveyed to him that there could be no compromise on the matter as it concerned the country's territorial integrity.
South Korean Foreign Minister Chung Eui-yong spoke to his Indian counterpart S Jaishankar this morning and the Korean side regretted the offence caused to the people and government of India by the social media post. Read more here
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