Business news
- India
India’s 300 billion USD electronics goal by 2026 requires 100 Billion USD in chips
New Delhi: As India aims to reach $300 billion electronics production by FY26, it will trigger demand for semiconductors worth $90-$100 billion, largely driven by domestic mobile manufacturing — an opportunity the…
- Technology
Google lays off entire python team citing cost-cutting measures
In a recent development, tech giant Google has allegedly fired its entire Python team, a move that has sent shockwaves through the tech industry. The decision, attributed to cost-cutting measures, involves hiring…
- Technology
Hackers attacked Indian firms on average 2,444 times per week in last 6 months: Report
New Delhi: Hackers have attacked Indian organisations on average 2,444 times per week in the last six months, compared to 1,151 attacks per organisation globally, a new report revealed on Thursday. According…
- Technology
Spotify announces to cut 17 per cent of jobs, third round of layoffs this year
New Delhi: Music streaming giant Spotify on Monday announced to eliminate about 17 per cent of its workforce across the company as it looks to become “both productive and efficient”. Spotify founder…
- Business
Rupee jumps 24 paise against US dollar
Mumbai: The rupee appreciated 24 paise to close at 83.09 against the US dollar on Wednesday as the American currency retreated from its elevated levels after the US inflation came lower than…
- Technology
NFT marketplace OpenSea lays off 50 per cent of its workforce
San Francisco: Non-fungible token (NFT) marketplace startup OpenSea, valued at $13.3 billion last year, has laid off about half of its workforce as part of “significant organisational and operating changes”. A company…
- Business
Indian markets witness resurgence as investors’ anxiety drops
Mumbai: The Indian market is resurging amid a drop in investors’ anxiety as Nifty VIX contracts generously, Vinod Nair, Head of Research at Geojit Financial Services, said on Friday. The optimism is…
- Technology
FTX’s Sam Bankman-Fried found guilty on all 7 counts
New York: Sam Bankman-Fried, co-founder and former CEO of collapsed crypto exchange FTX, has been found guilty on all seven counts related to fraud and money laundering. The US Attorney’s office at…
- Technology
Uber, Lyft to pay USD 328 million to drivers in wage-theft settlement
New York: In a significant development, Uber and Lyft on Thursday agreed to pay a combined $328 million to settle charges that the ride-hailing platforms “unlawfully withheld wages from drivers”, and failed…
- Technology
X’s value sinks below half of Musk’s USD 19 billion acquisition
San Francisco: X Corp has seen its valuation drop to $19 billion — less than half of which Elon Musk bought the social media platform for $44 billion last year. Employees at…
- Business
Indian Rupee ends flat against US dollar
Mumbai: The rupee paused its three-day downward move to settle flat at 83.25 against the US dollar on Friday as the support from positive domestic equities was negated by surging crude oil…
- Technology
‘Youngsters should work 70 hours a week’: Narayana Murthy
New Delhi: Infosys founder NR Narayana Murthy, in a conversation with Padma Shri Awardee and Chairman of Aarin Capital, T.V. Mohandas Pai on the first episode of 3one4 Capital’s podcast ‘The Record’,…
- Business
Indian Rupee falls 8 paise against US dollar
Mumbai: The rupee continued its downward trend for the third consecutive session to close 8 paise lower at 83.25 against the US dollar on Thursday, dragged down by massive selling in equity…
- Stock Market
Market mayhem: Investors’ wealth plunges Rs 7.59 lakh crore
New Delhi: Investors’ wealth eroded by Rs 7.59 lakh crore on Monday as the equity market took a heavy drubbing amid escalating tensions in the Middle East. The 30-share BSE Sensex plunged…
- Business
US oil giant Chevron seals deal to buy Hess for USD 53 billion
New Delhi: American oil giant Chevron Corporation announced on Monday that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an…