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Bloomberg Quint
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Oil Extends Sharp Drop After Surprise OPEC+ Hike, Trump Tariffs
- Oil fell further after President Donald Trump’s tariffs and an OPEC+ decision to increase output faster than previously announced triggered the worst rout since 2022.
- Brent crude fell to around $70 a barrel after plunging 6.4% on Thursday.
- The two moves sent shockwaves across oil markets, though potentially offer a win for Trump, who has repeatedly bemoaned high crude prices.
- Crude has been whipsawed by conflicting drivers since Trump came into office.
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Bloomberg Quint
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Global Stocks Extend Slump As China Retaliates On Tariffs: Markets Wrap
- Global stocks extended losses and bonds rallied after China ratcheted up global trade conflict by hiking tariffs on US imports.
- S&P 500 stock futures sank 2.2%. Europe’s equity index tumbled 4%, wiping out all gains for this year.
- Beijing will impose a 34% tariff on all imports from the US starting April 10, according to the official Xinhua News Agency.
- The move shows US trade partners are hitting back at President Donald Trump’s sweeping trade-tariff hikes, in what could be a severe setback for the world economy that’s already showed signs of softening.
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Bloomberg Quint
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Stock Market Today: All You Need To Know Before Going Into Trade On April 4
- The NSE Nifty 50 closed 0.35% lower at 23,250.10, and the BSE Sensex ended 0.42% down at 76,295.36 on Thursday.
- Market indices turned red after US President Donald Trump imposed heavy tariffs on India and globally.
- Foreign portfolio investors were net sellers, offloading equities worth Rs 2,806 crore, while domestic institutional investors bought equities worth Rs 221.5 crore.
- Stocks to watch include Mazagon Dock Shipbuilders, Bajaj Finance, HDFC Bank, Vedanta, Avenue Supermarts, L&T Finance, and others.
- Insider trades involve purchases and sales by promoters of companies like NRB Bearings, Wardwizard Innovations, and Gensol Engineering.
- Trading tweaks include price band changes, ex-dividend listings, securities included/excluded from ASM framework, and F&O cues.
- Currency update: The Indian rupee strengthened against the US dollar after initial losses from Trump's tariffs.
- Nifty April Futures closed down by 0.48% at 23,325, with maximum call open interest at 25,400 and put open interest at 23,000 for April 10 Expiry.
- Notable business updates include various companies reporting revenue, production, and sales figures, such as Adani Wilmar, Premier Energies, Nestle India, and others.
- Additionally, companies like Reliance Industries, Jio Financial Services, Surya Roshni, Allcargo Logistics, and others have made significant announcements.
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Economic Times
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Solartech startup Aerem raises Rs 100 crore in round led by Japan-based UTEC
- Solartech startup Aerem has raised Rs 100 crore in a funding round led by Japan-based venture fund UTEC.
- The funds will be used for expanding operations across India, improving solar financing and marketplace solutions, strengthening the end-to-end platform, and diversifying the lending portfolio.
- Aerem has facilitated setting up over 800 MW of solar capacity across India, financed more than 800 projects, and established a network of over 2,000 installation partners.
- The company plans to expand into eastern and southern India, enabling solar adoption while supporting local businesses.
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Siliconangle
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Financial technology startup Plaid closes $575M investment at $6B valuation
- Financial technology startup Plaid has raised $575 million in funding.
- The funding round was led by new investors, including Franklin Templeton, Fidelity, and BlackRock.
- Plaid is now valued at $6 billion, higher than the $5 billion acquisition offer from Visa.
- Plaid's platform, Link, simplifies the process of connecting financial applications to bank accounts.
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TechCrunch
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Grace raises €5.9M seed to offer insurance to luxury goods
- Grace, an insurance company for luxury goods, raised a €5.9M seed round led by FinTech Collective and Speedinvest.
- Grace works with luxury brands to protect purchased consumer goods, offering fraud detection, claim processing, and logistic coordination.
- The company addresses the gap between luxury brands' promised service levels and post-purchase protection for when something goes wrong.
- The funding will be used to scale across Europe, hire more people in product engineering, and cover over 200,000 luxury items by year-end.
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Bloomberg Quint
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Government Extends Delhi Golf Club Lease Till 2050 To Promote International Standards
- The government has extended the lease of Delhi Golf Club till 2050 to bring the club to international standards.
- The lease extension was done taking into consideration the request to upgrade the club for golf being part of the Olympic games since 2016.
- The Delhi Golf Club had requested a lease extension till 2070 for long term planning, but the government approved it only till 2050.
- The lease of the land allotted to the Delhi Golf Club has been extended multiple times in the past.
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Bloomberg Quint
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Parliament Approves Aircraft Objects Bill 2025 To Boost Leasing Industry In India
- Parliament on Thursday approved the Protection of Interests in Aircraft Objects Bill, 2025.
- The bill will help boost the aircraft leasing industry in India.
- The bill will provide legal backing for the Cape Town Convention that mainly pertains to the leasing of aircraft.
- The Lok Sabha cleared the bill by voice vote on Thursday.
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Bloomberg Quint
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Delhi Govt Likely To Conduct Trail For Artificial Rain In May To Combat Pollution: Minister
- The Delhi government is likely to conduct a trial for artificial rain in May to combat air pollution.
- The trial will be carried out in an area in outer Delhi with the final site selection to be made by the Directorate General of Civil Aviation and IIT Kanpur.
- The plan is part of a broader strategy to tackle pollution using multiple methods.
- The Delhi government aims to determine the effectiveness and potential risks of artificial rain before implementing it on a large scale.
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Bloomberg Quint
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Updated Guidelines Issued For Industrial Entrepreneur Memorandum By DPIIT
- The Department for Promotion of Industry and Internal Trade (DPIIT) has updated guidelines for issuance of Industrial Entrepreneur Memorandum acknowledgment.
- The revised criteria for the acknowledgment will now be investment in plant and machinery/equipment exceeding Rs 125 crore, or/and annual turnover exceeding Rs 500 crore.
- The increased threshold limits aim to support large-scale companies operating under the Industries (Development & Regulation) Act, 1951.
- The revised criteria are effective from April 1.
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Siliconangle
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AI video generation startup Runway raises $308M round at $3B valuation
- Artificial intelligence startup Runway AI has raised $308 million in a funding round led by General Atlantic.
- The round included participation from investors such as Fidelity, Baillie Gifford, SoftBank Group, and Nvidia.
- This funding brings Runway's valuation to over $3 billion.
- The company plans to use the funding to support its AI development efforts and improve its video generation models.
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Pymnts
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Thatch Raises $40 Million For Employee Health Coverage Offering
- Health insurance startup Thatch has raised $40 million in Series B funding to help employers offer Individual Coverage Health Reimbursement Arrangements (ICHRA).
- Thatch marketplace allows employees to choose from different health insurance options and offers a debit card for spending the remaining balance.
- The ICHRA rule allows customization of business health benefits based on factors like hours worked and geographical location, enabling tailored health plan offerings.
- Research indicates that women face challenges when paying for healthcare, with healthcare bills being a major reason for financial difficulties.
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Massivelyop
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Whatever happened to superhero MMO Valiance Online? (2025 edition)
- Valiance Online, one of the original superhero MMORPGs, has been quiet for years.
- After holding a brief open beta in 2020, the game went back into a private test phase for investors.
- The developer, SilverHelm Studios, has provided little information since 2022/2023, focusing on building a foundation for the title.
- Despite concerns about the game's status, a developer confirmed that Valiance Online is still in active development.
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Bloomberg Quint
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Trump Tariffs To Hit Gujarat's Gems, Jewellery Sector Hard
- The US government's reciprocal tariffs on goods exported from India will affect the gems and jewellery space negatively.
- Tariffs will have a minimal impact on the pharmaceutical, textile, and agro-chemical sectors in Gujarat.
- Gujarat's gems and jewellery sector, being a major center for diamond cutting and polishing, will be impacted by the new tariffs.
- Chemical industry in India, especially pigments used to make blue, green, and white colors, will benefit from the new tariff policy.
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Medium
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223
Image Credit: Medium
The Future of Growth: Can We Innovate Without Destroying?
- Most startups and businesses believe they must outcompete, outmaneuver, and outlast, but they could focus on non-disruptive creation instead.
- Identifying unmet needs, adding value without displacing, and balancing profit with purpose are the three keys to non-disruptive growth.
- The world needs innovation that works for everyone, building markets, creating jobs, and growing responsibly.
- The future of business lies in building something game-changing without tearing something else down.
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