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Omnicom to cut 4,000 jobs after IPG takeover

Global advertising giant Omnicom Group is set to lay off over 4,000 employees following its acquisition of Interpublic Group (IPG) in a $13.5 billion deal.

Iconic agencies such as DDB Worldwide and MullenLowe will merge into TBWA Worldwide, while FCB will join BBDO Worldwide. Most cuts will impact back-office and leadership roles, aiming to streamline operations and save roughly $750 million annually.

The move highlights the industry’s urgent need to adapt amid growing competition from tech platforms and AI-driven advertising solutions, signaling a major reshaping of traditional ad networks worldwide.

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Atomberg plans $200 million Mumbai IPO

Atomberg Technologies Pvt., backed by Temasek Holdings, is said to be exploring an initial public offering (IPO) in Mumbai that could raise around $200 million, according to reports. The IPO is expected to include a mix of fresh shares and secondary sales by existing investors and could launch as early as next year.

The company has recently held discussions with investment banks about a possible listing and is likely to appoint advisers in the coming weeks, reports said.

The Mumbai-based consumer electronics maker is also backed by Steadview Capital and Jungle Ventures and is the latest firm preparing to tap India’s strong IPO market. Indian companies have raised about $19.6 billion through listings so far this year, following a record $21 billion in 2024, according to Bloomberg data.

Founded in 2012 by Manoj Meena and Sibabrata Das, Atomberg started as a fan manufacturer and has since expanded into mixer grinders, water purifiers and smart locks. In 2023, the company raised $86 million from Temasek, Steadview Capital, Jungle Ventures and Inflexor Ventures in a combination of primary and secondary transactions, according to Avendus Capital, which advised on the fundraise.

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Delhi, Mumbai air travellers may pay higher airport fees

Air travellers flying from Delhi and Mumbai may soon have to pay significantly higher airport fees.

A tribunal found that Indira Gandhi International and Chhatrapati Shivaji Maharaj airports under‑charged passengers between 2009 and 2014 by excluding assets like duty‑free shops, lounges, and parking.

To recover over ₹50,000 crore, User Development Fees (UDF) could rise sharply, domestic fees at Delhi may jump from ₹129 to ₹1,261, and international fees to ₹6,356.

The hike is under Supreme Court review, but if approved, flights will become noticeably costlier.

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RBI fines HDFC bank ₹91 lakh for compliance lapses

The Reserve Bank of India has fined HDFC Bank ₹91 lakh for multiple compliance lapses identified during its supervisory inspection of the bank’s 2023–24 financials.

The RBI found issues in how the bank followed rules under the Banking Regulation Act, including irregularities in applying interest-rate benchmarks on loans, shortcomings in outsourcing practices, and gaps in KYC (Know Your Customer) procedures.

The central bank clarified that the penalty is purely for regulatory non-compliance and does not affect the validity of customer transactions. HDFC Bank is expected to strengthen its internal controls to meet all supervisory and operational standards.

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Ashok Leyland shares hit 52‑week high on merger plan

Ashok Leyland shares touched a 52‑week high after the company announced plans to merge its finance arm, Hinduja Leyland Finance Limited, with NDL Ventures Limited.

The board has approved the merger, aimed at simplifying operations and strengthening financial structure.

Following the announcement, the stock jumped 5–6%, reaching ₹156–₹158, reflecting strong investor confidence. The company has also reported improved earnings recently, adding to positive sentiment.

Ashok Leyland is among several mid‑cap firms hitting yearly highs, and trading volumes surged as investors showed renewed interest in the stock, boosting market momentum.

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IMF shifts India to crawl-like regime

The IMF has reclassified India’s exchange-rate system as a “crawl-like arrangement,” replacing last year’s “stabilised” tag.

This change means the rupee is now allowed to move slowly within a small range instead of staying close to a fixed level. The shift comes after the rupee weakened and touched a record low of ₹89.49 per US dollar in November.

The IMF noted that the Reserve Bank of India has been intervening less in the forex market, allowing natural currency movements.

The Fund said this flexibility can help India handle global shocks better and still expects strong economic growth ahead.

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Ahmedabad to host 2030 Commonwealth Games

Ahmedabad will proudly host the 2030 Commonwealth Games, marking a historic moment for India.

The decision, confirmed by the Commonwealth Sports General Assembly in Glasgow, recognises the city’s world-class infrastructure and readiness to deliver a global sporting spectacle.

Central to the bid is the Sardar Vallabhbhai Patel Sports Enclave, anchored by the iconic Narendra Modi Stadium, featuring modern arenas, aquatics facilities, and an athletes’ village.

Known for its rich heritage, vibrant markets, and culinary delights, Ahmedabad is ready to welcome the world, combining top-class sports venues with India’s culture, hospitality, and national pride.

 

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HDFC AMC shares fall on bonus issue

HDFC Asset Management Company (HDFC AMC) shares fell nearly 50% on November 26 as the stock went ex‑bonus following a 1:1 bonus issue.

Investors received one bonus share for every share held, halving the stock price but leaving overall investment value unchanged.

The correction is purely mechanical and not a reflection of performance. HDFC AMC reported a robust Q2 FY26, with revenue rising 16% to Rs 1,027.4 crore and net profit up 25% at Rs 718.4 crore.

Analysts say the slump is temporary, and long-term investors need not worry, as the company’s fundamentals remain solid.

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Vedanta arm files for $1billion US IPO, shares jump

Vedanta Resources’ subsidiary, CopperTech Metals Inc., has filed confidential draft papers with the US Securities and Exchange Commission for a potential IPO in the US.

Following the news, Vedanta’s shares rose over 2%. The proposed listing aims to raise funds to support the expansion of the Konkola copper mine, a project requiring more than USD 1 billion.

The IPO will move forward only after SEC approval and favorable market conditions. Investors are watching closely, as this move could strengthen Vedanta’s global presence in copper production and provide significant capital for its large-scale mining operations.

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ED freezes ₹520 crore in WinZO, Gameskraft Assets

The Enforcement Directorate (ED) has frozen over ₹520 crore in assets linked to real-money gaming companies WinZO and Gameskraft.

The move comes after a week-long investigation under the Prevention of Money Laundering Act (PMLA). Around ₹505 crore of WinZO’s assets, including bank balances, fixed deposits, bonds, and mutual funds, have been frozen. Gameskraft and its Poker arm Pocket52 had about ₹18.75 crore in eight bank accounts, which are also attached.

The probe followed complaints about cheating, blocked accounts, misuse of PAN cards, and impersonation. The ED continues to investigate the firms’ financial dealings.