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Pymnts
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Propel Finance Raises $2 Billion to Fund UK Small Businesses
- British FinTech company Propel Finance has secured $2 billion in a new funding round to provide asset financing for UK small and medium-sized enterprises (SMEs).
- The funding will enable thousands of businesses to access finance for essential equipment and vehicles, fueling productivity and growth.
- Small businesses, especially micro-businesses, face challenges in securing funding due to difficulties in data verification, leading to high rejection rates.
- In the U.S. and the U.K., many small enterprises struggle to survive long-term, with reasons such as cash flow issues, flawed business models, and market misjudgment contributing to their closure.
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Bloomberg Quint
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247
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CCI Okays Kedaara Capital's Proposal To Acquire Stake In Porter
- Kedaara Capital's proposal to acquire a stake in SmartShift Logistics Solutions, the parent company of on-demand logistics provider Porter, has been approved by the Competition Commission of India.
- Mumbai-based Kedaara Capital is acquiring a stake in Porter through its affiliates Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF.
- Porter recently raised $200 million in a Series F funding round co-led by Kedaara Capital, reaching a valuation of $1.2 billion, making it the third unicorn in 2025.
- Porter, engaged in logistics services, packing, and moving, faces competition from companies like Shadowfax, Pidge, and cityXfer.
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Bloomberg Quint
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Karnataka Government Releases Rs 244 Crore As Truckers Go On Strike
- The Karnataka government has released Rs 244.10 crore to cover additional expenses under the Annabhagya scheme for transporting rice and other food grains due to lorry owners going on strike.
- The allocated amount is in addition to a previous grant of Rs 2,082.99 crore for purchasing extra rice per beneficiary, with Rs 21.79 crore remaining unutilized from the earlier allocation.
- The funds are specifically designated for covering wholesale, retail margins, and transportation charges, excluding rice procurement costs, for the financial year 2025–26.
- The State Lorry Owners' Association declared an indefinite strike over non-payment of dues, prompting political leaders to criticize the delay in clearing payments and urging the government to address the situation promptly.
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Bloomberg Quint
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Maharashtra Recorded Over 10,000 Cases Of Crimes Against Children In Five Months Of 2025, Says Fadnavis
- Maharashtra Chief Minister Devendra Fadnavis revealed that 10,662 cases of crimes against children were reported in the state between January and May 2025.
- Among the cases, 1,179 were related to molestation until March 2025.
- Fadnavis highlighted an increase in crimes over the years, with a significant rise in molestation cases in the state.
- Efforts including special assistance cells, Nirbhaya and Damini squads, special juvenile police units, and fast-track courts have been implemented to address these crimes.
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Bloomberg Quint
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411
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Maharashtra Reports 11 New Covid-19 Cases
- Maharashtra reported 11 new Covid-19 cases, bringing the total infections in the state this year to 2,594.
- No deaths of Covid-19 patients have been reported in the state since Saturday.
- Six new cases were found in Mumbai, two in Thane city, one in Pune city, one in Kolhapur district, and another in Sangli.
- A total of 34,107 Covid-19 tests have been conducted in Maharashtra since January 1.
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Bloomberg Quint
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SEBI Approves IPOs Of Rite Water, Veeda Clinical, Others
- SEBI has approved the IPOs of Rite Water Solutions (India) Ltd., Veeda Clinical Research, and other companies to raise funds through initial public offerings.
- The companies that received regulatory approval include LCC Projects Ltd, Shringar House of Mangalsutra Ltd, and Seedworks International Ltd.
- SEBI has also lifted the abeyance on WeWork India Management's IPO, with the Embassy Group-promoted firm planning an Offer for Sale of equity shares.
- Rite Water Solutions aims to raise Rs 745 crore through its IPO, with a portion allocated for working capital requirements and general corporate purposes.
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Bloomberg Quint
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399
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Meghalaya Seeks Rs 2,270 Crore For Critical Transmission Projects From Union Power Ministry
- Meghalaya Power minister has requested financial support of Rs 2,270 crore from the Union Ministry of Power for critical transmission projects in the state.
- The proposed project, approved by the Central Electricity Authority, aims to add 760 MVA of capacity and extend transmission lines by 190 circuit kilometres.
- The state emphasized the urgent need for a dedicated 132 kV transmission line to Baghmara and other areas along the Bangladesh border.
- The minister also highlighted the need to expand 132 kV infrastructure in various areas and raised concerns over pending approvals for system upgrades and cyberattack threats on the power grid.
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Bloomberg Quint
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148
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FSSAI Warns E-Commerce Platforms Of Serious Penalty On Failure To Comply With Food Safety Rules
- FSSAI warns e-commerce platforms of severe penalties for non-compliance with food safety protocols.
- CEO emphasizes the importance of food safety in the expanding e-commerce market.
- E-commerce entities directed to display FSSAI License/Registration numbers, share warehouse details, and ensure food safety training for personnel.
- Regulator stresses adherence to hygiene protocols, SOPs, and FSS Act rules in e-commerce operations.
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Bloomberg Quint
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India Shelter Finance Bulk Deal: Nexus Venture Partners' Units Sell Stake For Rs 425 Crore
- Nexus Venture Partners' units sold a 4.63% stake in India Shelter Finance Corp. for Rs 424.9 crore through an open market transaction.
- Nexus Opportunity Fund II sold 13.28 lakh shares (1.23% stake), while Nexus Ventures III offloaded 36.7 lakh shares (3.4% stake) at Rs 850.88 apiece.
- Kotak Mahindra Mutual Fund acquired 4.19% stake (45.28 lakh shares) for Rs 385 crore at Rs 850.87 apiece.
- In 2024, Nexus Ventures III Ltd. and Nexus Opportunity Fund LI had sold stakes in India Shelter Finance Corp. Shares of India Shelter Finance closed 0.31% lower at Rs 879.35 apiece on the NSE.
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Bloomberg Quint
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Trump Tariffs: Dr Reddy's To Lupin — Pharma Stocks To Be In Focus After Threat Of 200% Levies
- US President Donald Trump has threatened to impose 200% tariffs on pharmaceutical products, which could significantly impact Indian drugmakers reliant on US exports.
- Companies like Dr. Reddy's Laboratories, Lupin, and others will be closely monitored as a result of the tariff threat.
- The Indian pharmaceutical sector faces vulnerability due to high exposure to US markets, with companies like Gland Pharma and Aurobindo Pharma having revenue exposure of around 50%.
- If the tariffs are imposed, it could have a considerable impact on US consumers as India supplies approximately 40% of all generic drugs used in the country.
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Bloomberg Quint
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Trump Threatens 200% Tariff On Pharma Imports; Slaps 50% Levy On Copper
- US President Donald Trump imposed a 50% tariff on copper imports while threatening a 200% tariff on pharmaceutical products.
- Trump mentioned that pharmaceutical companies exporting to the US will have 18 months before facing the tariffs. He also plans to announce tariffs on chips and other products.
- All members of BRICS, including India, will face 10% tariffs for allegedly aiming to 'hurt America' and 'destroy the dollar'.
- Trump reaffirmed that the August 1 tariff deadline for countries failing to enter a trade deal with the US will not be extended, with more tariff letters expected to be sent out soon.
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Pymnts
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Tether Invests in Crystal Intelligence to Combat Illicit Stablecoin Use
- Tether has invested in Crystal Intelligence, a blockchain analytics firm, to combat illicit stablecoin use.
- Crystal Intelligence provides risk monitoring, fraud detection, and regulatory intelligence solutions to strengthen investigative tools used by enforcement agencies.
- Tether's investment in Crystal Intelligence aims to enhance tracking of funds, freeze unlawful funds, and support investigations across jurisdictions.
- Both Tether and Crystal Intelligence have supported the development of a platform called Scam Alert to detect scams and abuses in real time.
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Bloomberg Quint
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427
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BEL Inks Deal With Indian Navy For Maritime Domain Awareness Project
- BEL has signed a contract with the Indian Navy for the National Maritime Domain Awareness Project to enhance maritime and coastal security.
- The project aims to upgrade the National Command, Control, Communication and Intelligence Network to an advanced NMDA Network with AI-enabled software for improved surveillance.
- The Information Management and Analysis Centre in Gurugram will be modernized and transformed into a multi-agency NMDA Centre under this project.
- The project will be executed on a turnkey basis by the Indian Navy and BEL, contributing to smarter decision-making in maritime operations.
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Bloomberg Quint
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365
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Part-Time Actor, Full-Time Politician, Says Smriti Irani; Opens Up On Language Row
- Smriti Irani, a former MP and actor, is set to reprise her role as Tulsi Virani in the Kyunki Saas Bhi Kabhi Bahu Thi reboot, emphasizing that she is a full-time politician and a part-time actor.
- Irani highlighted the importance of national unity amidst a language row in states like Maharashtra, Karnataka, and Tamil Nadu, stating her focus on serving the nation regardless of language barriers.
- She mentioned her experience as a Union Minister from 2014 to 2024 and her significant win in the 2019 Lok Sabha elections in Amethi, although she lost in the recent parliamentary polls.
- Irani expressed her belief in celebrating the complexities of Indian culture and emphasized the unity of Indians in the face of challenges, mentioning the government's recognition of cultural heritage.
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Bloomberg Quint
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322
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Buy, Sell Or Hold: Vedanta, Zee Entertainment, NMDC, Ireda, CDSL — Ask Profit
- Market analysts provided insights on stock recommendations including Vedanta, Zee Entertainment, NMDC, Ireda, and CDSL on NDTV Profit's Ask Profit show.
- Analysts advised to hold Ircon International, not to hold Vedanta, hold Zee Entertainment, hold Lemon Tree Hotels, buy and hold NMDC, sell Ireda, and average out on dips for CDSL.
- Specific recommendations included holding Ircon International above Rs 168, avoiding holding Vedanta due to lack of interest, accumulating Zee Entertainment at lower levels, holding NMDC for strong profit growth, selling Ireda due to negative trends, and averaging out CDSL at specific price levels.
- The experts cautioned that the views expressed are personal opinions and advised viewers to consult with their financial adviser before making investment decisions.
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