In this issue

November 10, 2022

Meta slashes workforce by 11K

Zuckerberg takes the blame, says post-Covid scenario didn't meet expectations

3 mins

Pvt channels told to have 30-min slot for 'public interest' content

For the first time ever, private television (TV) channels available in India have been mandated to run 30-minute daily programmes of national importance and social relevance as part of their new service obligation.

2 mins

Bollywood celebs under CBIC lens for 'GST evasion'

At least 3 actors misdeclared brand promotion services; issue emerged in an ongoing probe

2 mins

Paid users up 42% but no IPL rights cloud future

Disney's Chief Financial Officer Christine McCarthy said that Hotstar accounted for over a third of the total paid subscriber base of Disney+ for the July September period

1 min

Pandemic boom to layoff season: How Big Tech, start-ups got it wrong

Mark Zuckerberg, founder and CEO of Meta, summed it up well as he explained the reason for the company sacking 13 per cent of its employees.

2 mins

MOST INDIA CEOS SEE CYBERSECURITY BUDGETS SURGING NEXT YEAR: PwC

'2023 Global Digital Trust Insights: India Edition'

1 min

Qualcomm plans to pick up equity in EV start-ups

In what could turn out to be a big push for the country's auto sector, especially electric two-wheelers, global chip design maker Qualcomm's venture capital arm is scouting around for domestic startups in the advanced auto tech space to buy equity stakes or go for a merger and acquisition.

2 mins

TaMo to delist ADS, net loss narrows to ₹945 cr

Semiconductor shortfall dents volumes for Jaguar Land Rover

2 mins

Bharat Forge gets ₹1.2K-cr order to export artillery

Order value over 1/10th of India’s defence exports in each of last 2 years

1 min

HUL, GSK Asiato scrap distribution pact for OTC products by next year

Hindustan Unilever (HUL) and GSK Consumer have mutually decided to terminate the distribution agreement of GSK Consumer's over-the-counter (OTC) products that include Eno, Crocin, Iodex, Sensodyne by November 2023, HUL said in a stock exchange filing.

1 min

e-rupee bond trade volumes up 2-fold in 2nd week

The Reserve Bank of India's (RBI's) pilot project for its Central Bank Digital Currency trades in sovereign bonds has gained steam, with volumes registering an almost double-fold increase so far this week.

2 mins

Nirav Modi loses appeal; suicide risk does not bar extradition, says UK court

Fugitive diamond merchant Nirav Modi on Wednesday lost his appeal against extradition to India on mental health grounds as the High Court in London ruled that his risk of suicide is not such that it would be either unjust or oppressive to extradite him to face charges of fraud and money laundering.

1 min

Renewable power generation may become a must for new coal plants

In what could pave the way for boosting renewable energy generation capacity in the country, the Union Ministry of Power is planning to make it mandatory for thermal power producers to build or purchase renewable energy if they set up a new or expand coal-based power generation.

1 min

Traders can claim export benefits for ₹ payments

Foreign trade directorate makes key amendments to foreign trade policy

3 mins

Rupee gains 146 paise in 3 days as dollar index slips below 110

The currency closed the day at its strongest level since September 30 on FPI flows, weak dollar

2 mins

UB & 2 other liquor firms served notices for surrogate ads

The Ministry of Consumer Affairs (MCA) has issued show cause notices to three major liquor companies United Breweries (UB), Radico Khaitan, and Allied Blenders & Distillers (ABD) - for purported violation of rules that ban surrogate advertising, promoting a 'forbidden' item under the guise of advancing some other product.

2 mins

Dhanlaxmi appoints 3 in board, paves the way for rights issue

EGM called off after management and shareholders agree on a truce

1 min

Gujarat financial state makes it easy to go for freebies. Should it?

Gujarat, by all accounts, is a prosperous state. Its per capita income was ₹2,41,507 in 2020-21 -- 65 per cent higher than the national average of ₹1,46,087.

2 mins

DFCC scraps contract with Tata Projects consortium

Move over inordinate delay’ in executing crucial stretch of Western DFC

2 mins

Be ready to fight & win wars, Xitells military

Says China's national security is facing increased instability and uncertainty

1 min

Democrats cheer 'red ripple' in US midterms

US President Joe Biden had plenty to enjoy as midterm election results came in, even though his Democrats could lose control of Congress.

1 min

Show us the money: Developing world seeks finance details for green projects

Finance took centre stage at the COP27 climate talks on Wednesday, with the United Nations experts publishing a list of projects worth $120 billion that investors could back to help poorer countries cut emissions and adapt to the impacts of global warming.

2 mins

Binance's move to buy FTX as bailout rattles crypto world

Crypto giant Binance signed a nonbinding agreement to buy FTX's non-US unit to help cover a \"liquidity crunch\" at the rival exchange, in a stunning bailout that raised fresh concerns among investors about cryptocurrencies.

1 min

Brand ambassadors: An illusory fascination

Last week Byju's said it would be appointing Lionel Messi, the world's richest footballer, as brand ambassador for something called its \"social impact initiative\".

3 mins

Britain and Rishi Sunak

The new PM faces unenviable challenges ahead, butheisa testament to the progress Britain has made towards becoming a multi-racial society

4 mins

Coal India's dwindling upper crust gains

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

4 mins

A ₹5K-cropportunity: Hinterland is Pine Labs' BNPL money-spinner

Financial technology (fintech) unicorn Pine Labs is scaling up efforts to expand in India's towns and hinterland.

2 mins

AB InBev makes a fresh splash with Budweiser Magnum

India's love for darker spirits makes the world's largest beer maker enter the whiskey segmentin the country

2 mins

Social media ads: Twitter woes put focus on brand safety

Focused approach to media targeting, using third-party verification tools among measures advertisers are adopting

3 mins

Ray of hope for OMCs after a difficult Q2

Analysts though seem divided given 'hold', 'neutral' and 'reduce' recommendations

2 mins

Sebi panel: Divide MII functions into 3 heads

An expert group constituted by the Securities and Exchange Board of India (Sebi) to strengthen governance at market infrastructure institutions (MIIS) has suggested the creation of three distinct verticals to avoid conflict of interest.

1 min

Fewer complaints, faster resolutions at Sebi

The Securities and Exchange Board of India (Sebi) has received fewer complaints on average so far this year, despite monthly grievances rising from their June lows.

1 min

Nykaa shares tumble over 8% as 1-year lockup period ends

Selling pressure from pre-IPO investors feared in four start-ups this month

2 mins

Jubilant FoodWorks may not find joy in near term

Cost inflation overhang to hurt fast food giants’ prospects, say analysts

2 mins

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