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Business News LIVE Updates – October 19, 2024

Stay tuned for real-time updates on the latest and most significant developments in the realm of business, including the stock market and key financial news. We are here to keep you informed with everything you need to know about today’s business landscape.

Recent updates indicate that the GoM on GST rationalisation was formed after the average GST rate fell below the revenue-neutral rate of 15.3%.

Current Status of Business News

Follow for updates from prominent figures like Bill Gates, Elon Musk, Mukesh Ambani, and Gautam Adani, and keep track of the latest price fluctuations of gold and silver. Our coverage ensures you stay ahead in the dynamic world of business.
Disclaimer: This is an AI-generated live blog and has not been reviewed by Hindustan Times staff.

Important Developments

6:21 PM IST – GST Rate Changes

Major changes in GST rates are forthcoming, affecting many commodities: the GST on 20-liter water bottles and bicycles is expected to decrease to 5%, while rates on luxury shoes, watches, and beauty products will see an increase.

• The projected revenue increase from these adjustments by the GoM is estimated to be ₹22,000 crore.

4:58 PM IST – Insights Into Mukesh Ambani’s Driver

Recent discussions have noted that Mukesh Ambani’s driver reportedly earns more than several executives, a reflection of the premium placed on professional drivers who are highly trained for safety and luxury vehicle management.

4:20 PM IST – Shift in Social Media Trends

Following Elon Musk’s controversial updates to the social media platform X, a significant number of users have migrated to Bluesky, resulting in a remarkable addition of half a million new users in just one day.

2:34 PM IST – Apple’s Executive Turnover

Apple’s top recruiting executive is departing to take on the role of Chief People Officer at the investment firm Citadel, signaling a notable shift in the company’s human resources strategy. This comes amid various personnel changes within Apple’s HR team.

2:19 PM IST – Decline of Byju’s

The fall of Byju’s has been attributed to several factors including excessive acquisitions, mounting losses, and ongoing legal disputes, leading to a staggering drop in valuation from $22 billion to less than $3 billion within just a year.

12:46 PM IST – Interest Rates on Savings Accounts

Reviewing the current interest rates on savings accounts, major banks including SBI, HDFC, ICICI, PNB, Union Bank, and IDFC FIRST, are offering rates that can go up to 7.25%. These rates are influenced by various factors including the RBI’s monetary policy and prevailing market conditions.

12:44 PM IST – Disney-Reliance Merger Impact on Streaming

After the merger between Disney and Reliance, all sporting events like the IPL are set to be streamed exclusively on the Hotstar app, signifying a substantial alteration in content distribution strategies, although the original Hotstar platform may potentially undergo rebranding.

11:43 AM IST – Google’s Delay in Opening Android

In a recent ruling, a U.S. judge has granted Google a delay in its plans to open Android devices to rival app stores amidst ongoing antitrust litigation initiated by Epic Games.

11:25 AM IST – Satellite Internet Competition

Both Elon Musk’s Starlink and Jeff Bezos’ Kuiper are pushing for lower prices for satellite waves, acknowledging that prohibitive costs could compel them to target urban users rather than just remote areas.

10:27 AM IST – Employee Discontent at Amazon

Amazon employees have voiced their grievances regarding the company’s work culture publicly on LinkedIn, marking an unusual but significant shift in employee sentiment which has often remained unspoken in internal forums.

10:08 AM IST – Demand for Indian Skilled Workers

Germany is now seeking to attract skilled Indian workers to address critical labor shortages in sectors like healthcare and IT, having approved 30 new initiatives to facilitate this influx.

9:10 AM IST – Lawsuit Against Meta

Meta faces a major lawsuit in Massachusetts which alleges that Instagram was designed with features intended to addict teenagers and that the company deceived the public about the mental health implications faced by this demographic.

8:31 AM IST – Bank Holidays This October

For those wondering about bank operations today, typically, banks operate on the first and third Saturdays of each month, while the second and fourth Saturdays are designated as weekends—unless updated by the Reserve Bank of India (RBI).

How AI legalese decoder Can Help

In the fast-paced world of business news and evolving regulations, understanding complex legal language can often prove challenging. AI legalese decoder simplifies this process by breaking down complicated legal jargon into clear, concise, and understandable terms. This can be particularly beneficial for business owners and professionals who need to stay informed and compliant with the latest regulations, such as changes in GST laws or employee regulations, minimizing the risk of misunderstandings and ensuring adherence to legal frameworks.

For anyone navigating these news developments, having a tool that clarifies legal nuances is invaluable in making informed, responsible business decisions.

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