Nokia announced a new cost savings plan of 700-800 million euros in annual savings from 2021 onwards, to compensate for the lower revenue. Nokia reported a 20% decrease in third-quarter sales due to slowing 5G equipment sales. Revenue missed estimates and as a result, Nokia introduced a new cost savings plan that is estimated to bring in savings of 700-800 million euros annually beginning 2021.

Google announced plans to make its Pixel smartphones in India, giving a boost to the country's ambitions of becoming a global manufacturing hub. The Pixel 8 will be the first device with production starting in 2024. Google is working with local and international manufacturers on this initiative, while Apple is ramping up local production of its iPhones in India.

India's benchmark indices fell over half a percent on Thursday morning as foreign institutional investors sold net equities worth Rs 12,774.46 crore so far this month, influenced by the Israel-Hamas war, FII outflow, and weak Q2 performance of some companies. FIIs have been exerting heavy selling pressure while analysts expect volatility to persist until tensions cool in the Middle East.

India will introduce digital authorization systems for select IT hardware imports to specify quantity and value, valid until Sept. 30, 2024. The purpose of the authorizations is to streamline and reduce paperwork and make importing easier, thereby promoting economic development.

Google Pay has announced a range of credit-focused products in India, partnering with banks and NBFCs to fortify its financial services offerings such as merchant and consumer lending, sachet loans, personal loans, payments via credit cards and UPI credit lines. It aims to address the credit gap in India through collaborations with ePayLater and DMI Finance, HDFC and ICICI Bank, and Axis Bank.

Indian Taxation system's Angel Tax has undergone many changes and exemptions due to the difficultly in determining fair market value of startups, as well as difficulty in curbing money laundering. The mentality instead needs to be that of presumption of innocence until guilt is proven, not the other way around, making it hard for startups to prove themselves innocent.

Bandhan Bank reported 3x growth in net profit amidst sluggish NII (net interest income) for Q2FY24, but share prices fell 13% this year due to concerns of declining asset quality. GNPA grew 14.8% YoY to Rs 7,874 crore and Net Interest Income (NCII) increased 11.4% YoY. Bandhan Bank management is expecting a strong recovery in loan growth & asset quality in a seasonally strong 2nd half.

Tata Motors has partnered with Amazon to introduce Alexa to its Nexon.ev, Harrier and Safari vehicles - allowing customers to access additional functionality with straightforward voice commands, such as controlling the temperature, brightness of the screen and even the car's sunroof. Alexa AI facilitates seamless integration for customers to use in their Tata Motors cars.

Lexus, the luxury car arm of Japanese auto major Toyota, plans to increase prices from November to offset the effects of rising input costs and the US dollar appreciating against the rupee. It currently offers six models in India from Rs 62 lakh to Rs 3 crore, and recently began taking orders for its seventh model, the Lexus LM.

The RBI has been able to successfully defend the rupee so far this year, despite rising U.S. rates wreaking havoc in EM markets. Analysts believe that the central bank has likely tapped its large foreign-reserve stockpile to support the currency and curb any speculative moves. The RBI is hoping to keep imported inflation down while also reducing volatility and maintaining an attractive currency.

Karnataka is the third highest in EVs registrations in India, having 2 lakh registered EVs. The state has also attracted investments of Rs 25,000 crore in the EV sector spanning the whole value chain, with an extra investment of Rs. 15,000 crore for R&D. It has set-up Electric Vehicle Mobility Centre of Excellence & Innovation and partnered with companies like Tata Technologies and Siemens.

The RBI has noticed a surge in small personal loans, often used for "lifestyle" spending, leading to rising household debt and defaults. It is looking to tighten controls on these tiny loans and may impose stricter measures to avert risks of a blowout in defaults. Non-bank lenders are the largest lenders to this segment but banks may also be exposed if there's an increase in delinquencies.

The IT player LTIMindtree reported a smaller-than-expected drop in their September quarter profit, as healthy revenue growth overcame a rise in employee and other expenses. Shares climbed 5% to Rs 5,411. Analysts have given mostly positive assessments of the stock, with recommendations for Buyers, Neutrality, and Reducers based on its projected long-term performance.

TSMC, the world's largest manufacturer of advanced chips, is in a precarious situation. They must manage an unpredictable outlook while also considering possible impacts of an escalating U.S.-China semiconductor trade war that could compromise their position.

September's exports in Japan rose 4.3%, boosted by vehicle, machinery and electronics shipments. Imports dropped 16.3%, leaving a trade surplus of 62.4 trillion yen. Goods from the U.S and Europe were up, mainly from autos, while Asian exports fell due to semiconductor slumps. Oil and gas imports declined significantly and electrical equipment saw a 17% jump.