BUSINESS
Indian smartphone market to touch $42 bn in sales despite poor 2023 1st half
The 140-million smartphone sales target for 2023 is an uphill task but still achievable looking at the big picture that includes the 5G opportunity in the affordability segments, macro-economic conditions and the replacement cycle potential sales, according to market research firm techARC.
Dunzo faces legal notices by FB, Nilenso over unpaid dues of Rs 4 crore
According to Moneycontrol, citing sources, Dunzo has made partial payments to Facebook but still owes the tech giant approximately Rs 1.5 crore. It had used Facebook's advertising services but had not paid the full amount. Google, Dunzo's second-largest backer, has recently served a legal notice to the startup, demanding the settlement of unpaid dues.
Nifty likely to cross 20K-mark on Friday
All sectors ended in the green, except IT and consumer durables. BFSI, FMCG and pharma were the top gainers, up 1 pert cent each. On the backdrop of consistent FIIs buying (Rs 16,300 crore month till date), sound macros and micros, and surplus monsoon so far, Nifty has rallied by 15 pert cent since April 1, and 4 pert cent month till date, Khemka said.
Jio Financial Services valued at $ 21 billion ahead of Adani Ports, Tata Steel
Reliance Industries had kept July 20 as the record date for allotment of its demerging Financial Services business to be named as Jio Financial Services Limited (JFSL). Accordingly, the shareholders of Reliance Industries Limited as on July 20 are set to receive the shares of the newly created JFSL in 1:1 proportion.
Tesla logs $2.7 bn in net income, cybertruck on its way: Elon Musk
The revenue was also 50 per cent higher than year-ago sales of $16.9 billion, and mostly came from automotive sales which was $21.3 billion in the April-June period. In the second quarter, Tesla produced nearly 480,000 vehicles and delivered over 466,000 vehicles, the company said in a statement late on Wednesday.
Netflix adds 5.9 mn paid subscribers in Q2, revenue at $8.2 bn
In May, the company launched paid sharing in more than 100 countries, representing more than 80 per cent of its revenue base. "Revenue in each region is now higher than pre-launch, with sign-ups already exceeding cancellations. Paid net additions were 5.9 million in Q2," Netflix said in a statement late on Wednesday, adding that its password-sharing crackdown is working.
US economist declines top EU antitrust job offer after backlash
"Professor Fiona Scott Morton has informed me of her decision to not take up the post as chief competition economist," Vestager added on her Twitter account on Wednesday. "I accept this with regret and hope that she will continue to use her extraordinary skillset to push for strong competition enforcement," she said.
Pfizer, Gilead, GSK to lead $150 bn infectious diseases mkt by 2029: Report
The report by GlobalData, a leading data and analytics company, showed that the infectious diseases market is forecast to grow at a compound annual growth rate (CAGR) of 5.7 per cent between 2023 and 2029 to reach an impressive $150 billion in annual sales in 2029.
Quick commerce platform Dunzo won’t pay employees till early September
The company has also delayed the August salary for senior employees to September 4 as well, it said in an email seen by TechCrunch. The delay comes as the startup focuses on “streamlining our cash flow so we can build a more sustainable business for the future”.
GST officials search UpGrad offices, edtech unicorn says 'routine survey'
Backed by investors such as Temasek, James Murdoch’s Lupa Systems, and World Bank’s International Finance Corporation, upGrad has raised $600 million to date, and was valued at $2.25 billion last year.
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