BUSINESS
Qualcomm to layoff over 1,200 employees in US: Report
According to a recent filing with the California Employment Development Department, the company informed it will be laying off about 1,064 workers from San Diego and 194 from Santa Clara, reports CNBC.
Indian startup sector sees significant drop in deal activity in 2023
Overall, there was a 39 per cent decrease in the number of deals and a 68 per cent decrease in their total values, according to Grant Thornton Bharat's ‘Q3 Deal tracker Report.’
Air India Express to induct 50 new Boeing 737 MAX planes in next 15 months
"Over the next 15 months, a total of 50 new Boeing 737 MAX aircraft will join the LCC fleet, allowing us to grow our network to new destinations and increase flights on existing routes. Our key focus is now the preparedness for deploying this capacity. Already, over 800+ aircrew and other operational personnel have joined us, under various stages of training," he wrote.
OpenAI’s revenue on track to reach $1.3 bn this year: Report
Microsoft-backed AI company is apparently generating more than $100 million per month, up 30 per cent from earlier this year, reports The Information, citing sources.
Results of IT majors struggling with weak numbers impacting market
Leading banking names have the strength to continue supporting the market, he said.
Mutual funds weightage to utilities at 35 month high
Utilities’ weight jumped to a 35-month high of 3.8 per cent in in Sep’23. Healthcare’s weight climbed for the fourth consecutive month to a 17-month high of 6.8 per cent. Private Banks’ weight moderated for the third consecutive month to 18.9 per cent. Oil and gas weight declined for the fifth consecutive month in Sep’23 to 5.7 per cent, the lowest since Nov'15.
Maruti Suzuki opts for shares route to acquire 100% equity in Suzuki’s Gujarat ops
The issue will be taken up at the company’s Board of Directors meeting, scheduled on October 17, India’s leading car maker said in a stock exchange filing on Thursday. The decision saw the company’s share price going up in the morning session at BSE on Thursday.
CRED eyes mutual fund startup Kuvera amid Groww-Zerodha market dominance: Report
The acquisition talks are currently on and “a deal could be finalised within weeks,” reports TechCrunch, citing a source.
US sues bankrupt crypto platform Voyager’s CEO, permanently bans company
The Commission said late on Thursday it is also filing a lawsuit against its former CEO, Stephen Ehrlich, for falsely claiming that customers’ accounts were insured by the Federal Deposit Insurance Corporation (FDIC) and were “safe", even as the company was approaching an eventual bankruptcy.
Cyber protection company Acronis lays off employees amid restructuring
“We will prioritise projects and initiatives that immediately benefit our partners: Best-in-class product capabilities, reliability and performance, top-notch technical and business education, and increased sales and marketing support,” Acronis said in a blog post.
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