Billionaire T Denny Sanford passed away aged 90 on Saturday after donating $4 billion during his lifetime. Sanford, who lost his mother to cancer when he was four and began helping in his father's garment business when he was eight, had said in 2007 he wanted to die "broke". He began his philanthropic journey with a $400-million donation in 2007.

Former NITI Aayog CEO Amitabh Kant said India should scrap retrospective taxation, warning it hurts global investor sentiment. He said the world should see India as welcoming to businesses and investors. "The Tiger Global case has impacted sentiments (of investors)," Kant said. In January, the Supreme Court upheld the tax on Tiger Global's Flipkart stake sale in 2018.

Vijay Singh, Vice Chairman of Tata Trusts, will step down as trustee of the Sir Ratan Tata Trust on August 14 after deciding not to seek another term, The Economic Times reported. His exit ends a long association with the trusts. "The changed atmosphere in the trusts after Ratan Tata's passing has been disquieting," he said.

Chinese AI unicorn Jijia Vision, aka GigaAI, is in talks for a Hong Kong IPO by the year-end. "Globally, we'll be the first to IPO among world model startups," CEO Huang Guan said. This comes as GigaAI nears the closing of a new funding round at a $3 billion valuation, making it the most valuable Chinese world model startup.

Billionaire investor Warren Buffett said luck played a major role in making him one of the world's wealthiest people. "I may be one of...10 luckiest in...world," Buffett said. He credited his father, whose investment firm gave him an early introduction to stock market, saying he wouldn't have had the same advantage if his "father had been a plumber".

German carmaker Volkswagen is in advanced talks to sell a stake in its India business, Skoda Auto Volkswagen India, to the JSW Group, Bloomberg reported. The Sajjan Jindal-led conglomerate is seeking a majority stake in the Indian joint venture. Key issues, including valuation and future capital commitments by both sides, remain unresolved and the talks could still collapse, report added.

Jewellery sold on Amazon and TikTok Shop, including products advertised as "silver", contains dangerous levels of cadmium, a toxic silvery-white metal linked to cancer, as per an investigation by The Sunday Times. A "925 sterling silver" ring listed on Amazon was found to be 92.3% cadmium, while a similarly advertised bracelet on TikTok Shop had 33% cadmium, the report found.

The RBI's special measures to attract overseas deposits from NRIs have brought in $17.4 billion in foreign currency non-resident FCNR(B) deposits so far, showing strong investor interest. Companies also raised $1.34 billion through external commercial borrowings and $1.97 billion via overseas foreign currency borrowings. The measures aim to attract foreign capital and support the rupee.

India's major ports have nearly doubled cargo handling capacity from 873 MMT to 1,728 MMT over the past 12 years, while average vessel turnaround time has dropped from 96 to 41 hours. Backed by Sagarmala, PM Gati Shakti & Maritime Vision 2030, India is modernising ports through digitalisation, multimodal connectivity & green shipping initiatives to strengthen India's global trade competitiveness.

Travel-tech startup 30 Sundays has raised ₹61 crore in a Series A round led by Bessemer Venture Partners. Existing investors Info Edge Ventures and Eximius Ventures also participated. The funding takes the company's total capital raised to around $7.5 million. The AI-based travel platform currently operates across four destinations and plans to expand into new markets.