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Industry seeks quick action on measures acceptable to govt instead of discussions goin on `in a loop’ View More
The decision was taken in a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi View More
Elon Musk's rocket and satellite maker SpaceX is leaning toward listing its shares on the Nasdaq ?for what could rank as the biggest initial public offering of all time, according to four people familiar with the company's thinking. View More
Elon Musk 's rocket and satellite maker SpaceX is leaning toward listing its shares on the Nasdaq for what could rank as the biggest initial public offering of all time, according to four people familiar with the company's thinking. SpaceX wants early inclusion on the Nasdaq 100 index , making it a necessary condition for a potential listing on the tech-heavy exchange, two of the people said. Its plans could still change, said the people, who asked not to be identified because the discussions are confidential. Reuters has previously reported that SpaceX is planning an IPO, as early as June. The New York Stock Exchange is also competing for the listing, and neither exchange has been informed of a decision either way, multiple people said. The Nasdaq 100, owned by Nasdaq Inc, is seen as a premier blue-chip index by large institutional investors and serves as a barometer for the health of most of the world's biggest publicly traded names, including megacap technology stocks like Nvidia, Apple and Amazon.com . The Nasdaq 100 gained about 21% last year and is slightly lower so far this year. Nasdaq proposed a new rule last month that could potentially speed up the addition of newly listed megacap companies to the Nasdaq 100 index. NASDAQ'S NEW FAST-TRACK RULE Live Events The proposed change, which is not final and could take several months to take effect, is designed to entice richly valued private companies like SpaceX, Anthropic and OpenAI, among others, to list on the exchange. Under the Nasdaq's proposed "Fast Entry" rule, a newly listed company would be eligible for accelerated inclusion in just under a month if its market capitalization ranks among the index's top 40 current members. SpaceX is seeking a valuation of around $1.75 trillion for the IPO, one of the people said, which would make it the sixth-largest company by market value in the U.S., based on the latest share prices. Newly listed companies currently have to wait up to a year before they are eligible for entry into major indexes like the S&P 500 or the Nasdaq 100, first needing to demonstrate to investors that they are stable enough to handle the volume of buy orders from institutional investors. INDEX MEMBER BENEFITS Admission to a blue-chip index like the Nasdaq 100 or the S&P 500 gives companies increased access to the deep-pocketed institutional investors who typically buy sizable positions for their own index funds, broadening their shareholder base and improving liquidity over time. While the NYSE has a similar index that tracks its 100 largest U.S. stocks, it is less widely followed by investors, making inclusion in the Nasdaq 100 especially influential for megacap IPOs. For executives and early investors, that deeper liquidity could reduce the market impact of large sell orders once lockup periods expire, typically 90 to 180 days after an IPO, though it is no guarantee that a large wave of insider selling will not still weigh on the share price. SpaceX did not return requests for comment. Reuters reported in February that advisers for SpaceX have reached out to major index providers including Nasdaq to discuss joining key indexes sooner than normal. SpaceX's stock market debut is expected to be the highlight of what is shaping up as one of the busiest years for IPOs in recent memory, with several high-profile venture-backed companies and startups including OpenAI and Anthropic laying the groundwork for their respective debuts. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Average surface air temperature reaches 13.26°C, well above long-term February average, says Copernicus report View More
Innovision's IPO, aiming to raise Rs 323 crore, opened March 10 with a price band of Rs 521-548. The manpower and toll management services provider has shown strong revenue growth but faces concerns over thin margins and high valuation. Brokerages suggest caution due to a flat listing expectation and limited margin of safety. View More
The IPO of Innovision has opened for subscription on March 10, with the manpower and toll management services provider aiming to raise about Rs 323 crore through the public issue. The public offer comprises a fresh issue of Rs 255 crore and an offer for sale of Rs 68 crore. Shares are being offered in the price band of Rs 521-548 apiece, with a market lot of 27 shares. The company is expected to list on both the BSE and NSE. Grey market trends indicate muted investor sentiment so far, with the IPO commanding a grey market premium (GMP) of around 0%, suggesting a flat listing expectation. At the upper end of the price band, Innovision is expected to command a pre-IPO market cap of about Rs 1,291 crore. The IPO will close on March 12. The basis of allotment is expected to be finalised on March 13, with shares likely to be credited to investors’ demat accounts on March 16 and the tentative listing scheduled for March 17. Business profile Innovision provides manpower services, toll plaza management and skill development training to clients across India. The company initially started with manned private security services before expanding into broader manpower solutions, skill development from FY14 and toll management services from FY19. The company currently operates across 23 states and five union territories, offering outsourced workforce solutions and operational services to enterprises and infrastructure operators. Live Events Revenue is generated primarily through service contracts and long-term operational engagements. Financial performance Innovision has posted strong growth in recent years. Revenue increased to Rs 896 crore in FY25 from Rs 512 crore in FY24 and Rs 258 crore in FY23. Profit after tax rose to Rs 29 crore in FY25 from Rs 10 crore in FY24 and Rs 9 crore in FY23. However, margins remain relatively thin, with EBITDA margin at 5.78% in FY25. The company reported a return on net worth (RoNW) of 35.45%, which is among the highest in its peer group, indicating efficient capital utilisation. Proceeds from the fresh issue will be used to repay or prepay certain borrowings, fund working capital requirements and meet general corporate purposes. Should you subscribe? Brokerage Swastika Investmart has recommended avoiding the issue, citing concerns around valuation and business margins. "RoNW of 35.45% is the highest in the peer group by far, which signals efficient capital use and partly justifies the premium. However, at 35.69x P/E the stock is already pricing in significant future growth," the brokerage said in its note. It added that the company operates in a manpower-intensive and relatively commoditised services business, where margins remain thin. "Given the modest EBITDA margin of around 5.78%, the valuation leaves limited margin of safety. Long-term upside at this price would require consistent margin expansion in coming quarters," the brokerage said. The brokerage concluded that the IPO may not be a strong long-term hold at current valuations unless the company demonstrates a clear improvement in margins. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
A 20-year-old, Daniel Jackson, claims to have founded the Free Republic of Verdis on a disputed strip along the Danube River between Croatia and Serbia. Arguing the land is terra nullius, he built an online micronation with citizens and passports. Croatian authorities removed him after a 2023 settlement attempt, leaving him running the project from exile in the United Kingdom. View More
The Social Security payroll tax is capped at $184,500 in 2026. Some high earners have already stopped paying into the program for the year. View More
A mobile billboard with an image of Jeff Bezos calls for higher taxes on the ultrawealthy, in Washington, May 17, 2021.Drew Angerer | Getty Images In 2026, earnings up to $184,500 are subject to Social Security payroll taxes.As of Monday, individuals with $1 million in annual wage and salary earnings have stopped paying into the program for this calendar year, according to the Center for Economic and Policy Research.Wealthier individuals stop paying into the program even sooner. Billionaire tech magnate Elon Musk may have paid all of his Social Security taxes for the year on New Year's Day, depending on how his income is taxed, labor economist Teresa Ghilarducci has estimated. How the Social Security payroll tax works Together, Social Security and Medicare payroll taxes are known as FICA, named for the Federal Insurance Contributions Act. Workers and employers each pay 6.2% of wages toward Social Security through payroll taxes. They also each contribute 1.45% for Medicare â and unlike Social Security, Medicare taxes apply to all earnings with no income cap. There's also a 0.9% Medicare surcharge for high earners.Self-employed workers are subject to the full 12.4% rate for Social Security and 2.9% for Medicare, although they can also claim an above-the-line deduction of half of their FICA taxes. Read more CNBC personal finance coverageMillion-dollar earners have already stopped paying into Social Security for 2026Women and the K-shaped economy: Lower pay, affordability issues reduce spendingSmall 401(k) accounts may follow workers to their next job â except Roth moneyIn a jobs apocalypse, look to 'AI-proof' skilled trades, career experts sayMiddle-income homebuyers have $30,000 more buying power than a year agoAverage IRS tax refund is up 10.6%, early filing data showsGOP 'big beautiful bill' to deal 'shock' to the ACA marketplace: health expertsAs millions claim Trump's 'no tax on overtime' deduction, filers risk mistakesS&P 500 shrugs off 1% daily drops all the time. Investors can too, advisors sayWhere investors can look for stability as the Iran war rattles marketsWhat the Iran war market turmoil means for those nearing retirementMusk says Grok can help with your taxes. What experts say about AI and tax prepNew bill would update anti-poverty program, 'a critical lifeline': WarrenThere's a push to cut capital gains taxes on home sales to add supply for buyersIran war and your portfolio: Historical stock market patterns investors should knowCNBC's Financial Advisor 100: Best financial advisors, top firms ranked Amid calls for higher taxes on the rich and a looming Social Security funding shortfall, some advocates and lawmakers are pushing to raise the payroll tax cap so that high earners pay more into the program.In the future, Social Security may not be able to pay benefits as intended, said Hayley Brown, a labor and disability researcher at the Center for Economic and Policy Research, a left-leaning think tank."Meanwhile, we have people who are capable of paying into the system throughout the year who stop before three months of the year have gone by," Brown said. More of workers' earnings exceed the payroll tax cap The Social Security Administration currently faces looming depletion dates for the trust funds it uses to help make monthly payments to millions of beneficiaries. Yet because money continues to come into the program through payroll taxes, benefits will not run out entirely. Instead, the latest projections from the Social Security Administration's actuaries find that the trust fund the program relies on to pay retirement benefits may run out in 2032, when monthly payments would be reduced by 24% unless Congress takes action to address the shortfall.Raising the Social Security payroll tax cap is among the options lawmakers may consider. Research shows that choice is popular among consumers. Raising the payroll tax cap to incorporate earnings over $400,000, while not increasing benefits for those extra contributions, was the most popular of all the policy options, according to a 2025 survey from the National Academy of Social Insurance, AARP, National Institute on Retirement Security and U.S. Chamber of Commerce. The group of retirement policy and business organizations polled 2,243 Americans.Other popular choices identified through that research were gradually raising the payroll tax rate from 6.2% to 7.2% and keeping age 67 as the full retirement age. watch nowVIDEO9:4309:43Washington State Sen. Jamie Pedersen on details of the state's wealth tax proposalSquawk Box Earnings inequality has contributed to Social Security's current trust fund shortfall, according to recent research from the Roosevelt Institute, a liberal think tank, student network and nonprofit partner to the Franklin D. Roosevelt Presidential Library and Museum.The share of earnings subject to Social Security payroll taxes was 90% in 1983. Yet the payroll tax did not rise fast enough to maintain that 90% coverage, according to the Roosevelt Institute. In 2000, it was approximately 82.5% and has since stayed at about that level, with some fluctuations, Roosevelt Institute research found.About 6% of workers have earnings above the cap, a share that has held steady. But those workers' real earnings grew by an "unexpectedly large" average of 62% from 1983 through 2000, according to the Roosevelt Institute. Meanwhile, the remaining 94% of workers with earnings below the cap saw their average real earnings go up just 17% during those years. How raising the tax cap affects Social Security solvency Raising the payroll tax cap would not be a cure-all for Social Security's funding woes.Eliminating the taxable maximum starting this year and not providing a benefit credit for tax contributions above the earnings threshold would fix 67% of the long-range actuarial balance, according to the Social Security Administration. Other variations of that change may not go as far, depending on factors including income thresholds that are taxed, such as $250,000 or $400,000 and above, and whether those contributions would result in higher benefit payments. Had the payroll tax cap been eliminated years ago, the results would have gone further toward shoring up the program, Jason Fichtner, former deputy commissioner at the Social Security Administration and current executive director of the LIMRA Alliance for Lifetime Income, said during a March 3 panel discussion at the National Institute on Retirement Security annual retirement policy conference in Washington."If we had just raised the taxable maximum, got rid of the cap, just that one policy ⦠that would have put us on 75-year solvency 15 years ago," Fichtner said. "We've lost that one major option." Not everyone agrees with eliminating the Social Security payroll tax cap. The increase would impact upper-middle-class individuals and families, not just the rich, according to the Manhattan Institute, a conservative think tank. It would also limit the ability to raise taxes to pay for other initiatives, such as Medicare, which likewise faces a funding shortfall, it found.Yet other experts and voters say the change is at the top of their wish lists for Social Security reform. "It seems like the fairest and most straightforward way to shore up Social Security's finances, and it also speaks to Social Security's status as a social insurance program," Brown said. CEPR's website includes a calculator to determine when individuals stop paying into the program this year based on their earnings. "I hope that people use the tool not just to see when they stop paying in, but to try to experiment and see what it would be like for somebody making $200,000, $300,000 ... and then try to reconcile that with their idea of what they think a fair system would look like," Brown said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The OpenAI deal fallout exposes the fundamental danger of being the most leveraged player in a market where the chip cycle moves faster than the concrete dries. View More
In this articleORCLNVDAFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO2:3102:31OpenAI executives pivot on expanding Stargate to put capacity in other locationsTechCheck Artificial intelligence chips are getting upgraded more quickly than data centers can be built, a market reality that exposes a key risk to the AI trade and Oracle's debt-fueled expansion.OpenAI is no longer planning to expand its partnership with Oracle in Abilene, Texas, home to the Stargate data center, because it wants clusters with newer generations of Nvidia graphics processing units, according to a person familiar with the matter. The current Abilene site is expected to use Nvidia's Blackwell processors, and the power isn't projected to come online for a year. By then, OpenAI is hoping to have expanded access to Nvidia's next-generation chips in bigger clusters elsewhere, said the person, who asked not to be named due to confidentiality.Bloomberg was first to report on the companies ending their plans for expansion in Abilene. In a post on X on Sunday, Oracle called news reports about the activity, "false and incorrect," but the post only said existing projects are on track and didn't address expansion plans. Oracle secured the site, ordered the hardware, and spent billions of dollars on construction and staff, with the expectation of going bigger. An Oracle spokesperson declined to comment. It's a logical decision for OpenAI, which doesn't want older chips. Nvidia used to release a new generation of data center processors every two years. Now, CEO Jensen Huang has the company shipping one every year, and each generation offers a leap in capability. Vera Rubin, unveiled at CES in January and already in production, delivers five times the inference performance of Blackwell. For the companies building frontier models, the smallest improvement in performance could equate to huge gaps in model benchmarks and rankings, which are closely followed by developers and translate directly to usage, revenue, and valuation. That all points to a bigger problem at play. For infrastructure companies, securing a site, connecting power and standing up a facility takes 12 to 24 months at minimum. But customers want the latest and greatest, and they're tracking the yearly chip upgrades.Oracle's added challenge is that it's the only hyperscaler funding its buildout primarily with debt, to the tune of $100 billion and counting. Google, Amazon and Microsoft, by contrast, are leaning on their enormous cash-generating businesses.Meanwhile, Oracle partner Blue Owl is declining to fund an additional facility, and plans to cut up to 30,000 jobs. Oracle reports fiscal third-quarter results on Tuesday, and investors will be paying close to how the company addresses a $50 billion capital expenditure plan with negative free cash flow, and whether the financing pipeline can hold up. The stock is down 23% so far this year and has lost over half its value since peaking in September. Beyond Oracle, GPU depreciation is a risk for the broader market and could have ramifications across the AI landscape. Every infrastructure deal signed today may result in a commitment to outdated hardware before the power is even connected. WATCH: Jefferies' Brent Thill talks to CNBC ahead of Oracle earnings watch nowVIDEO3:5303:53Market may be overlooking Oracle's upside potential, says Jefferies' Brent ThillThe Exchange Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
An 18-year-old accused in an ISIS-inspired terror attack near Gracie Mansion flashed a salute honoring the group while being led from a police precinct. Emir Balat and Ibrahim Kayumi, both 19, were arrested after a homemade bomb was thrown at protesters. Both reportedly made pro-ISIS statements and watched terror propaganda videos. View More