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<ul class="summary-list"><li>Airlines are bringing the barebones basic economy experience to business class.</li><li>"Business Light" fares are cheaper but can lack perks like lounge access or early seat selection.</li></ul>The unbundled, pay-as-you-go experience of <a target="_blank" class="" href="https://www.businessinsider.com/united-basic-economy-review-carryon-middle-seat-new-york-denver-2024-7">basic economy</a> is coming to business class.In recent years, international airlines such as Air France, KLM, Emirates, <a target="_blank" class="" href="https://www.businessinsider.com/finnair-airlounge-business-class-seat-pod-review-photos-2023-3">Finnair</a>, and Qatar Airways have launched discounted "Business Light" tickets. These fares can vary but generally do not include traditional business-class amenities like lounge access or advanced seat selection.Now, <a target="_blank" class="" href="https://www.businessinsider.com/delta-crowdstrike-outage-cost-170-million-customer-crew-expenses-2024-10">Delta Air Lines</a>, a close partner of Air France and KLM, may be the first to bring it to the US.Delta executives have hinted as much on recent earnings <a target="_blank" class="" href="https://www.fool.com/earnings/call-transcripts/2024/07/11/delta-air-lines-dal-q2-2024-earnings-call-transcri/">calls</a>. In response to a question about "unbundling" the front cabin in July, Delta President Glen Hauenstein said the airline didn't have anything to share yet but that its investor day in November "should be very exciting."On Thursday's call, executives continued to drum up excitement for premium product announcements in November. A Delta spokesperson declined to give any additional details.During the third quarter, Delta's premium offerings, which include <a target="_blank" class="" href="https://www.businessinsider.com/delta-one-new-lounge-new-york-jfk-amenities-skyclub-2024-6">Delta One business class</a>, domestic first class, and premium economy, generated $5.3 billion in revenue compared to $6.3 billion for the economy cabin despite occupying a mere fraction of tickets sold.Demand for international business class and other high-margin <a target="_blank" class="" href="https://www.businessinsider.com/american-airlines-delta-premium-economy-2016-11">premium cabins</a> at the front of the plane have struggled to return to pre-pandemic levels. Still, Delta executives said its premium demand is now outperforming the main cabin.The carrier expects that momentum to continue through the end of the year and beyond, noting that its corporate sales increased by 7% in the third quarter. A recent survey found that 85% of companies expect to increase spending in 2025.For airlines, the business light strategy can help further stoke demand to fill the front of the plane and generate additional revenue. For customers, it may be a relatively cheaper way to access the luxe seats and offer them more choice."Delta can unbundle business class and then resell those previously inclusive privileges for a fee," industry analyst Henry Harteveldt told Business Insider on Thursday. "I'll give Delta credit for looking for new ways to find value for their customers."<h2 id="15fce060-edb1-4b4d-82c4-4cffda495e16">'Business light' is popular overseas</h2><a target="_blank" class="" href="https://www.businessinsider.com/flying-qatar-airways-qsuites-new-york-doha-in-business-class-2022-8">Qatar Airways's unbundled "business class</a> bite" fare requires additional payment for lounge access. Those traveling on a Finnair Business Light ticket will also have to pay extra for checked luggage.<a target="_blank" class="" href="https://www.businessinsider.com/emirates-airbus-a380-business-first-class-bar-shower-photos-2023-11">Emirates's "business</a> special" fare does not include add-on amenities like chauffeur pickup, lounge access, open advanced seat selection, and upgrades to first class. Passengers must buy the pricier "Business Saver" fare for those amenities.<div type="image" title="Emirates Business Class fares screenshot." height="591" width="1106" msid="114154469" hostid="261" sizebytes="29744"></div>Given the profitability of premium cabins like business class, airlines are keen to squeeze every profit from both the seat and its ancillary amenities.However, the ultimate effect on consumers remains unclear. Like basic economy, an unbundled fare means consumers who want guaranteed seats or other add-ons would likely pay extra to get it."It's like insurance, in a way," Harteveldt said. "If you want the certainty that you have a specific seat, then you will pay for it, presuming the price is right."In practice, Harteveldt estimates fares for the new unbundled ticket would be similar to current business-class prices — with the price of a full-fledged business seat steadily increasing.On the other hand, Harteveldt said the new strategy could be good for corporate customers because they can ensure business travelers get good rest and food on the aircraft, even if they can't access the lounge or board first.

Airlines are building 'business-class-lite' to generate more revenue and increase demand for the luxe seats

In FY25, Punjab is set to experience financial challenges as its capital-to-revenue expenditure ratio is the lowest among all states, standing at just 6.2%, highlighted a research report by the <keyword id="19938957" type="General" weightage="100" keywordseo="National-Stock-Exchange" source="keywords">National Stock Exchange</keyword> (NSE). This means that for every rupee Punjab spends, a very small portion is being allocated towards capital expenditure, which is crucial for long-term <keyword id="19971350" type="General" weightage="20" keywordseo="infrastructure-development" source="keywords">infrastructure development</keyword>. In contrast, the research showed that the states like Gujarat lead the way with a much higher ratio of 36.2%, signaling a stronger focus on capital spending that can drive future growth. "The capital-to-revenue expenditure ratio, a measure of expenditure quality, is set at 20.7 % for FY25BE, declining from 21.2 % in FY24RE. Punjab has the lowest ratio at 6.2 %, while Gujarat leads at 36.2 %" said the report. The report also highlighted that the overall, capital expenditure by Indian states is expected to moderate in FY25 after three years of strong growth. It stated that the total capital spending for the fiscal year is estimated to increase by just 6.5 % to Rs 6.5 lakh crore. This is a notable slowdown compared to the sharp 39.3 % rise in FY24, which was marked by a post-pandemic push to boost infrastructure and public projects. The capital-to-revenue expenditure ratio, a key indicator of the quality of spending, is also set to decline slightly to 20.7 %in FY25 from 21.2 %in FY24, reflecting a more cautious approach by states. At the same time, revenue expenditure, which covers recurring costs like salaries, subsidies, and interest payments, is expected to grow by 8.9 % to Rs 44.2 lakh crore. This is the slowest growth in the last four years, indicating tighter control over everyday spending. "<keyword id="23614983" type="General" weightage="20" keywordseo="committed-expenditure" source="keywords">Committed expenditure</keyword> (interest payments and pensions), on the other hand, remains high, comprising about 24 % of total revenue expenditure and consuming nearly a quarter of revenue receipts" the report added. Despite this, the report noted that a large portion of revenue expenditure remains committed to non-discretionary costs. Interest payments and pensions alone account for about 24 % of total revenue expenditure and consume nearly a quarter of the revenue receipts, limiting states' flexibility in spending. Some states are more burdened than others by this committed expenditure. Punjab, Kerala, Himachal Pradesh, and Tamil Nadu have earmarked over 35 %of their revenue receipts for these fixed costs in FY25, putting additional pressure on their finances. This leaves less room for discretionary spending and makes it harder for these states to invest in development and growth-oriented projects.

Punjab's capital expenditure lowest in FY25 at 6.2% vs highest of Gujarat at 36.2%: NSE

<ul><li><keyword id="113675" type="General" weightage="100" keywordseo="nvidia" source="Orion">Nvidia</keyword> is now the world's largest company</li><li>It has surpassed <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> </li><li>The company is ahead in the AI race</li></ul> In 2024, AI is the talk of the tech world and more and more companies are investing heavily in the emerging technology. But at the middle of the AI boom is Jensen Huang's Nvidia. And now, the company has claimed the top spot as the world’s largest company by market capitalisation, surpassing Apple in a significant shift propelled by surging demand for AI technology. <h2><keyword id="23825488" type="General" weightage="20" keywordseo="nvidia-overtakes-apple" source="Orion">Nvidia overtakes Apple</keyword> as world's largest company </h2> On Tuesday, Nvidia’s market cap hit $3.43 trillion, narrowly edging out Apple’s $3.38 trillion valuation. This milestone follows Nvidia’s previous brief leap over Apple in June, highlighting the fierce competition between these tech giants. <div type="Article" hostid="261" msid="114040583" title="I talked to an AI-powered NPC thanks to Nvidia! True to her character, she surprised me with her princess attitude" mstype="2" mssubtype="0"></div> According to a report in IANS, CEO Jensen Huang attributed the company’s rapid growth to the strong demand for its Hopper chips and anticipation for the upcoming Blackwell generation. These chips power AI research and data-heavy applications globally, solidifying Nvidia’s role in modernising data centres and expanding computing power. "Hopper demand remains strong, and the anticipation for Blackwell is incredible,” Huang said and added, “Nvidia achieved record revenues as global data centers are in full throttle to modernise the entire computing stack with accelerated computing and generative AI.” Nvidia’s revenue figures back its impressive rise. In the second quarter ending July 28, the company reported a 15% quarterly growth and a massive 122% increase year-over-year, reaching $30 billion in revenue. For fiscal 2025, the outlook remains strong, with expected third-quarter earnings of around $32.5 billion. The company has also returned $15.4 billion to shareholders in the form of buybacks and dividends during the first half of fiscal 2025, maintaining a solid position of $7.5 billion left under its share repurchase plan. <h2>Why is Nvidia ahead in the AI race? </h2> The company has been a frontrunner in the AI race as it makes advanced computer chips that power AI technologies. These chips are essential for running complex AI tasks, like training large language models (e.g., ChatGPT) and supporting advanced data processing in data centres. Nvidia’s GPUs (graphics processing units) are particularly good at handling many tasks at once, making them ideal for AI work. While other companies also make computer chips, Nvidia’s focus on innovation in AI hardware has allowed it to stand out and stay ahead of the competition. <div type="Article" hostid="261" msid="113902265" title="Nvidia’s ChatRTX could be your alternative to ChatGPT for reading long documents, and it doesn’t need an internet connection" mstype="2" mssubtype="0"></div> On a related note, Apple has also made strides in the market with its smaller-scale AI efforts like Apple Intelligence, which was rolled out to users recently. Microsoft, another major contender, holds a market cap of $3.06 trillion and remains a strong player in the tech landscape.

Nvidia becomes world's largest company amid AI boom, surpasses Apple in the race

The global semiconductor industry is heading into a strong recovery phase, with revenue anticipated to reach $630 billion in 2024, a 19% rise over the previous year, as noted by the latest <keyword id="21638387" type="General" weightage="20" keywordseo="Gartner-report" source="keywords">Gartner report</keyword>. This growth trend follows a challenging 2023 and appears to be set for continued momentum, with projections estimating an additional increase to $717 billion by 2025. The boost comes as <keyword id="20176122" type="General" weightage="20" keywordseo="AI-technologies" source="keywords">AI technologies</keyword>, data-processing advancements, and a return in electronics manufacturing drive market demand. AI-related chips, in particular, have become essential as applications expand across sectors—from high-performance computing to everyday consumer electronics. As a result, memory components such as <keyword id="23726596" type="General" weightage="20" keywordseo="NAND-flash" source="keywords">NAND flash</keyword> and DRAM are experiencing increased demand, addressing more specialised computing needs and supporting AI-intensive workloads. Gartner highlights that NAND flash, essential in AI systems, is set to see significant gains, with a 12% revenue increase by 2025, driven partly by persistent undersupply and soaring demand in AI applications. The demand surge is similarly benefiting GPUs, which are vital to AI development, particularly in model training and deployment. After experiencing a dip in 2023, the <keyword id="23292216" type="General" weightage="20" keywordseo="GPU-market" source="keywords">GPU market</keyword> is expected to rebound strongly, potentially growing by 27% in 2025 and reaching $51 billion. The specialised memory segment, especially high-bandwidth memory (HBM), has also seen increased investment to support the high-capacity needs of modern AI hardware, with manufacturers scaling production and enhancing memory packaging. DRAM is also seeing a resurgence, driven by the production of high-bandwidth memory and rising adoption of DDR5 technology, which offers faster and more efficient data processing. Analysts note that these advances are contributing to a recovery for DRAM, with revenues projected to rise from $90.1 billion in 2024 to $115.6 billion by 2025, as supply issues ease and technology progresses. This robust growth in semiconductors reflects the sector’s adaptation to AI and data-processing needs, as memory technologies evolve to match these rising demands. While the market for automotive and industrial applications has seen slower growth, the trajectory in consumer electronics and AI-powered solutions keeps the semiconductor industry on track for a dynamic, technology-driven period of expansion. With AI, memory technologies, and GPU enhancements leading the way, the semiconductor market appears well-positioned for sustained growth. (With ANI inputs)

Global semiconductor sector expected to grow due to AI demand, new report says

<ul class="summary-list"><li>Spotify is going after YouTube's video podcast dominance with a new revenue program for creators.</li><li>It will soon share revenue with creators based on how much their videos are viewed.</li></ul>Spotify seems to be tired of playing second fiddle to <a target="_blank" class="" href="https://www.businessinsider.com/youtube">YouTube</a> when it comes to <a target="_blank" class="" href="https://www.businessinsider.com/leaked-deck-how-spotify-competing-for-video-ad-dollars-2024-8">video podcasting</a>.It's launching a new program in January to pay creators a cut of subscription earnings and ad revenue for video podcasts, starting in the US, Canada, the UK, and Australia.The company also announced it would no longer insert ads into video podcasts for Spotify premium subscribers. That could drive up video consumption on the platform as fans look for an uninterrupted streaming experience. Not all ads will disappear from video podcasts, however. Creators can still record their own host-read ads inside podcasts."By giving you guys, the creators, another path to monetization beyond ads, we're freeing you up to do what you like doing, which is creating," Spotify CEO Daniel Ek told a crowd of creators and industry professionals during the company's Now Playing event on Wednesday, hosted at Spotify's Los Angeles campus.Spotify said payments for non-ad-supported video podcasts would be calculated based on how much a creator's content is viewed. The company did not specify the rates it would use for creator payments. To qualify for the revenue-share program, a creator must upload and host content through Spotify, have 10,000 streamed hours from 2,000 unique users in the previous 30 days, and have at least 12 episodes published.The company's <a target="_blank" class="" href="https://www.businessinsider.com/how-to-grow-video-podcast-spotify-according-to-creators-2024-7">push into video podcasting</a> and its attempts to woo creators make sense given the competitive landscape it faces. YouTube is the top platform for podcast streaming in the US, according to an April <a target="_blank" href="https://www.westwoodone.com/blog/2024/07/08/youtubes-growth-as-a-podcast-power-player-revealed-in-cumulus-media-and-signal-hill-insights-podcast-download-spring-2024-report/">survey</a> conducted by Cumulus Media and Signal Hill Insights. Thirty-one percent of weekly podcast consumers who responded to the firms' survey said they used YouTube the most for podcast listening, followed by Spotify (21%), and Apple Podcasts (12%).Outside its creator monetization program, Spotify also announced on Wednesday that it rebranded its "Spotify for podcasters" program to "Spotify for creators," signaling a desire to draw in a wider set of video and audio talent to its platform. The company is rolling out a new mobile app experience that highlights creator analytics and monetization and is offering features like podcast clips, where creators can promote episodes by uploading vertical short-form video clips.Spotify's stock has been riding high this week after it reported Q3 earnings. The company showed increased profitability (as measured by gross margin) and added 6 million net paying subscribers, bringing its total to 252 million paying subscribers.

Spotify takes aim at YouTube with a new revenue-sharing program for creators

<keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> firm <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> on Saturday reported a more than two-fold jump in its consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. "Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture &amp; fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a," the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," Tech Mahindra CEO Mohit Joshi said. The CEO unveiled Project Fortius in April, a three-year plan to achieve a 15 per cent operating margin with a focus on organic growth. "This quarter we see consistent performance around increasing deal wins, <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword>, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs 15 per share," Tech Mahindra CFO Rohit Anand said. The company's TCV (<keyword id="23580531" type="General" weightage="20" keywordseo="Total-Contract-Value" source="keywords">Total Contract Value</keyword>), or net new deal wins, stood at USD 603 million in the second quarter of FY25. Joshi further said the company is on the right path for a long-term sustainable transformation, with its leading indicators moving in the right direction, and its 'Scale at Speed' narrative resonating in the market. "We have invested in strengthening the capabilities in the focus service lines by broadening the leadership and investing in technical specializations. "We continue to invest in strengthening our fresher hiring program, building the right mindset and future skilling and associates, by building capabilities in AI-first and cloud-first skill sets," he told reporters. Investments shall continue in creating and sustaining an outcome-driven learning organisation and cultivating a high-performance culture based on the pillars of simplifying, clarifying, innovating and driving a high-performance orientation, he added. This year could be volatile because we are in the turnaround phase, Joshi said. "I am confident, however, that the platform is being set for a long-term, valuable franchise thanks to a high-calibre and united leadership team and a clearly articulated strategic plan," Joshi said. The Pune-headquartered firm added 6,653 employees during the quarter under review, bringing the total staff count to 1,54,273. Shares of Tech Mahindra settled at Rs 1,688 apiece on the BSE on Friday, down 0.68 per cent from the previous close. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a>

Tech Mahindra profit jumps over 2-times to ₹1,250 crore in Jul-Sep quarter

<ul class="summary-list"><li>Russia's oil revenue fell sharply year-over-year in October.</li><li>Oil-related tax revenue dropped 29% last month, while oil and gas proceeds fell more than 25%.</li></ul>Russia saw a double-digit drop in oil revenue last month, hitting an important source of funds for the Kremlin amid pressure on global crude prices. Moscow's revenue from oil-related taxes plummeted 29% year-over-year in October, from 1.48 trillion rubles to 1.05 trillion rubles, according to data from Russia's Finance Ministry. Oil and gas proceeds, which is largely made up of oil production taxes and profit-based taxes in the industry, also fell more than 25% to 1.21 trillion rubles.Total oil and gas revenue rose on a monthly basis, with October levels up more than 75% compared to September. However, that's largely because the profit-based tax on Russia's oil industry is due four times a year, with companies paying taxes in March, April, July, and October, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-05/kremlin-oil-revenue-shrank-by-29-in-october-amid-lower-prices">Bloomberg reported</a>.The yearly drop has largely been fueled by <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-war-revenue-crude-prices-opec-production-cut-2024-9">falling crude prices</a>. International crude prices logged their <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-prices-today-israel-strike-iran-production-brent-wti-crude-2024-10">biggest drop in two years</a> last month after Israel's strike against Iran spared its oil infrastructure. Meanwhile, <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/us-oil-opec-crude-production-record-oil-prices-commodity-market-2024-11">US producers are pumping more than ever</a>, complicating efforts by OPEC+ to crimp supply and boost the price. Brent crude, the international benchmark, traded around $75 a barrel on Tuesday, down 11% over the last year. Meanwhile, Urals crude, Russia's flagship oil blend, traded around $63.57, down around 24% compared to the same time last year, Bloomberg data shows.The drop in oil revenue throttles a key source of funds for <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-ukraine-war-outlook-moscow-sanctions-west-firms-uchicago-2024-10">Russia's war-driven economy</a>, which is becoming increasingly strained under the rising costs of its invasion of Ukraine. Russia's oil and gas industries have accounted for around 30%-50% of Russia's federal budget revenue for the last decade, according to an <a target="_blank" href="https://www.oxfordenergy.org/publications/follow-the-money-understanding-russias-oil-and-gas-revenues/">analysis</a> from The Oxford Institute for Energy Studies. Russia's <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-outlook-defense-budget-spending-ukraine-war-putin-sanctions-2024-10">defense state spending</a>, meanwhile, is on track to hit a post-Soviet high in 2025.

Russia's oil revenue plummeted 29% in October amid volatile global crude prices

Indian financial services firm <keyword id="19913826" type="General" weightage="100" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword> made headlines recently for hitting ₹8,320 crore revenue in FY24. However, its CEO and co-founder <keyword id="19923447" type="General" weightage="20" keywordseo="Nithin-Kamath" source="keywords">Nithin Kamath</keyword> says that the company is preparing for a decline in revenue as several regulatory changes are expected to take effect later this year. Kamath, in a blog post, outlined the challenges ahead, which could result in a <keyword id="20168027" type="General" weightage="20" keywordseo="revenue-drop" source="keywords">revenue drop</keyword> of up to 50% as Zerodha faces a combination of stricter regulations and shifting market conditions. <h2>Zerodha braces for revenue drop</h2>One of the main concerns for Zerodha is the new Securities and Exchange Board of India (SEBI) regulation, which will be implemented on October 1, 2024. Kamath expects a 10% dip in revenue as the "true-to-label" circular is enforced. This change will impose stricter guidelines on brokers like Zerodha regarding the kind of financial products they offer, potentially limiting some of their key revenue-generating activities. Another significant factor affecting Zerodha’s future revenue is the ongoing review of index derivatives regulations. Index derivatives, which are a crucial part of Zerodha's business model, could soon face changes that might severely impact the company’s earnings. Kamath estimates that such modifications could reduce earnings by 30-50%. Additionally, with the <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword> (STT) set to rise in October 2024, the costs of futures trading could further impact Zerodha’s profitability, though the effect on options trading may be limited. Zerodha is also set to face revenue pressures due to changes in Annual Maintenance Charges (AMC) under the new Basic Services Demat Account (BSDA) thresholds. From October 2024, brokers will only be able to charge full AMC fees from customers with holdings of ₹10 lakhs or more, up from ₹4 lakhs currently. Combined with Zerodha's removal of account opening fees, this is expected to significantly impact their revenue. Yet another challenge comes from Zerodha’s decision to halt payouts from its referral program. The program, which incentivised customers to refer others to the platform, will now only allow payouts to Authorised Persons (AP) registered with exchanges. This new regulation limits the number of people who can refer customers, slowing the firm's growth. <h2>Zerodha's financial results</h2>Despite these looming challenges, Zerodha posted strong financial results for the fiscal year 2024. The firm recorded a 62% increase in profits, reaching ₹4,700 crore, with revenue climbing by 21% to ₹8,320 crore. Traders using Zerodha's platform are also sitting on over ₹1 lakh crore in unrealised profits, largely driven by strong market performance and increased retail participation. However, Kamath also cautioned that the profitability boost in recent years has been fuelled by a bull market, which could reverse at any time. If the market turns, Zerodha, like many other financial service providers, may face significant challenges. To prepare for such an eventuality, the company has built up a strong financial position, with Kamath stating that their net worth now stands at nearly 40% of the customer funds they manage.

Zerodha co-founder Nithin Kamath says bracing for a huge revenue hit even as the company hits ₹8,320 crore revenue in FY24

<ul class="summary-list"><li>Coca-Cola reported a decline in revenues in its third-quarter earnings on Wednesday.</li><li>Despite the slide, revenue was higher than analysts' expectations.</li></ul>Coca-Cola posted its first quarterly decline in revenue this year in its third-quarter earnings on Wednesday.Net revenues fell by 1% to $11.9 billion for the three months to September 30. The results beat analysts' predictions, which had forecast revenues of $11.65 billion for the beverage giant.Earnings per share declined 7% to $0.66, lower than the analyst consensus of $0.74.Shares dipped more than 2% in premarket trading, but the stock is up 16% this year.Coca-Cola said its slightly better-than-expected revenue performance had been driven by a 10% jump in price/mix, the amount the company adjusts prices, versus a 2% decline in concentrate sales.The results were boosted by an 11% jump in sales of Coca-Cola Zero Sugar across all markets."Our business continues to demonstrate resilience in the face of a dynamic external environment," said CEO James Quincey."We are encouraged by our year-to-date performance and our system's ability to manage near-term challenges while also remaining focused on long-term growth opportunities."The soda giant also signaled that there was growing potential in the non-carbonated drink market, pointing to its success as an <a target="_blank" class="" href="https://www.businessinsider.com/inside-coca-cola-company-2024-olympics-marketing-strategy-powerade-athletes-2024-7">official sponsor</a> of the 2024 Paris Olympics."During the opening and closing ceremonies in Paris, a special-edition smartwater gold bottle for athletes quickly garnered 42 million impressions and contributed to smartwater gaining both volume and value share during the quarter," the company said.Powerade, Fuze Tea, and Topo Chico were also highlighted as regional leaders in its plans to evolve a "total beverage portfolio."In recent quarters, strong international sales have helped boost Coca-Cola's results, offsetting weaker consumer demand in the US. However, in its third quarter, unit case volume declined in Europe, Middle East &amp; Africa and Asia Pacific, and remained even in Latin America.Investors will look to the soft drink maker's earnings for insight into consumer spending behavior heading into the year-end.US consumers are thought to have spent excess savings from the pandemic and are now grappling with accumulated price increases driven by global inflation.In September, core retail sales in the US grew by 2.4%. However, many <a target="_blank" class="" href="https://www.businessinsider.com/companies-are-doubling-down-on-loyalty-programs-2024-8">retailers have taken creative approaches</a> to incentivizing spending, including loyalty programs and <a target="_blank" class="" href="https://www.businessinsider.com/consumer-spending-decline-how-retailers-respond-inflation-prices-walmart-costco-2024-6">exciting product offerings</a>.Retailers, including Costco, PepsiCo, and Walmart, have been <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-offer-fewer-deals-under-new-ceo-2024-10">cutting prices</a> amid a pattern of more cautious consumer spending this year.The results come after Coca-Cola's rival PepsiCo posted weaker-than-expected sales for the second quarter in a row. PepsiCo lowered its full-year organic sales outlook, saying it now expects a low-single-digit rise, down from the previously forecast 4% growth.PepsiCo executives said the "cumulative effects of inflationary pressures continue to impact budgets and spending patterns."

Coke Zero sales jump, helping Coca-Cola beat forecasts despite revenue dip

<ul class="summary-list"><li>After two scandals this year, PwC's business in the Asia-Pacific region has fallen.</li><li>The firm's license to operate in China was suspended for six months for its involvement in a fraud case.</li></ul>After scandals in Australia and China this year, PwC has lost business in the Asia-pacific region.On Monday, the <a target="_blank" class="" href="https://www.businessinsider.com/partner-pay-at-big-four-falling-ey-pwc-deloitte-kpmg-2024-10">Big Four</a> consulting firm reported a 12.7% decline in net income in the region for the financial year ending in June. <a target="_blank" class="" href="https://www.pwc.com/gx/en/about/transparency-report/2024/financials.html">PwC said</a> demand was particularly slow in China, where revenues fell.In September, the firm was found to have <a target="_blank" class="" href="https://www.pwc.com/gx/en/news-room/press-releases/2024/pwc-network-statement-regarding-pwc-zhong-tian-administrative-penalties.html">helped conceal fraud at the now-collapsed Chinese property developer Evergrande.</a>The Chinese government fined PwC $62 million and removed its license to operate in the country for six months. 11 employees were fired or left the company, and state-owned enterprises have since dropped PwC as their auditor.Mohamed Kande, PwC's global chairman, <a target="_blank" class="" href="https://www.pwc.com/gx/en/global-annual-review/2024/pwc-global-annual-review-2024.pdf">said</a> the findings of the Evergrande audit were in "stark contrast" to the high-quality work PwC produces and were not representative of what the firm stands for.The firm's second regional scandal hit in Australia after a senior partner in its tax division was found to have passed confidential information from his work with the government to colleagues to help them win new business with multinational technology companies like Uber and Google, <a target="_blank" href="https://www.afr.com/companies/professional-services/the-emails-that-almost-destroyed-pwc-australia-20240802-p5jyv1">the Australian Financial Review </a>first reported.PwC sold its government consulting business in Australia following the revelations.Overall revenues in Asia-Pacific, which is the smallest of the firm's regions, were down by 5.6% in local currencies. PwC highlighted that business had performed well in India, where revenues increased.Despite the regional impact on the business, PwC posted an overall growth of 3.7% to reach record-high gross revenues of $55.4 billion.Like other leading consultancies, PwC has been hit by falling demand for consulting services, and its growth rate has slowed. In FY2023, revenue grew 9.9%.Following a pandemic-era rush on advisory services, demand for professional services has slowed, leaving firms overstaffed for the level of work. While EY and Deloitte have been <a target="_blank" class="" href="https://www.businessinsider.com/big-four-consultancies-deloitte-ey-cut-staff-pwc-accenture-2024-10#:~:text=Deloitte%20and%20EY%20are%20trimming,be%20over%2C%20one%20analyst%20said.">trimming back staff numbers</a> in the past year, PwC expanded its workforce by 10,000 in FY2024 to reach 370,000 global employees."Despite a backdrop of economic headwinds, we've seen revenue growth across all of our lines of business, deepened our strategic alliances, and invested $1.5 billion to expand and scale our AI capabilities," said Mohamed Kande, PwC's global chairman.

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