BUSINESS
5 women employees sue Amazon over discrimination
The women, in their early 20s to mid-60s, alleged in the lawsuit filed in various US district courts that they were retaliated against by "white managers" for complaining internally about race, gender, or sexual harassment or discrimination that they experienced, ReCode reported on Wednesday.
Elon Musk is no longer world’s second-richest person
Musk, the co-founder of electric vehicle maker, Tesla, was ousted by LVMH president Bernard Arnault as the value of Tesla fell by 24% since January this year. Arnault unseated Musk by a difference of a few million dollars. While the luxury goods tycoon Arnault has assembled a fortune of $161.2 Billion, the Tesla CEO’s fortune fell to $160.6 billion, says the report by Bloomberg Billionaires Index.
Bitcoin tumbles after China warning
Bitcoin was last down 12 per cent to $38,180, setting a fresh low for the past 24 hours of $36,219 in a month that has left the No 1 cryptocurrency 31 per cent lower. Bitcoin hasn't traded below the $40,000 level since early February and is roughly 40 per cent below a mid-April record high of $64,829, the report said.
Indian Oil Corp reports Q4 net profit of Rs 8,781 cr
During the same period of FY20, the company had reported a net loss of Rs 5,185.32 crore. The profits during the last quarter of FY21 came on account of higher inventory gain and higher petrochemical margin during current year.
Amazon donates $5mn of medical equipment to help India fight Covid
The critical life-saving equipment includes 82 anaesthesia ventilators, 1,238 BiPAP machines and 60 ventilators. The medical equipment will be distributed to Amazon's on-the-ground community partners such as the American India Foundation, ACT Grants and Swasth, who will distribute to verified hospitals and non-profit organisations across the country to ensure it reaches communities where it is needed the most.
Profit booking, global cues subdue equities; banking stocks down
However, optimism over lower Covid-19 cases as well as hopes on faster vaccination drive arrested any major decline. Among sectors, realty, power and healthcare were the main gainers while telecom, metals, banks and auto were the main losers. Globally, stocks slipped and cryptocurrencies sank as threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Second wave induced sequential slackening a concern: ICRA
ICRA also cautioned that bruised sentiment, high healthcare and fuel expenses will limit discretionary purchases in the immediate term. Furthermore, the agency expects a cut-back in spending on contact-intensive services. "As expected, the shrunken base of the nationwide lockdown in April 2020 has boosted the pace of year-on-year (YoY) expansion of several high-frequency indicators in April 2021 " ICRA Chief Economist Aditi Nayar said.
Mittal family, SingTel have no intention to sell their stakes in Airtel: CEO Gopal Mittal
Singtel and the Mittal family effectively own 31.9% and 24.5% in Bharti Airtel respectively. “I have heard about such (market) rumours this morning, but I wish to emphatically deny them and clarify that neither the Bharti family nor Singtel has any intention what-so-ever to sell their stakes in Airtel,” Vittal told Economic Times.
PhonePe acquires homegrown Indus App Bazaar for Rs 438 crores
PhonePe launched the Switch platform in 2018 and today, its customers can place orders on over 300 apps including Ola, Swiggy, Myntra, IRCTC, Goibibo, RedBus etc. directly from within the PhonePe mobile app. PhonePe is accepted at over 17.5 million merchant outlets across 500 cities nationally.
HP leads as India's hardcopy peripherals market logs best quarter: IDC
The growth was primarily led by the inkjet segment, wherein HP grew by 109.4 per cent (YoY). However, its market share dropped to 22.7 per cent as it occupied the third position in the inkjet market, according to latest data released by the IDC .The laser printers' segment (including copiers) recorded a YoY growth of 26.3 per cent as the government placed multiple orders towards the end of its financial year.
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