BUSINESS
Air India extends deadline for pilot contracts amid union opposition
This development follows the May 4 town hall meeting organised by the flag carrier where the concerns of numerous pilots were addressed. The sources revealed that during the meeting, approximately 800 pilots who had not yet agreed to the new compensation structure, were in attendance. The meeting was presided over by Air India.
NCLT admits Go Airlines' petition
The Principal Bench of NCLT, New Delhi also declared moratorium for the company and directed the suspended Board of Directors to cooperate with the IRP. Blaming the global aircraft engine maker Pratt & Whitney of not providing spare engines for defective ones resulting in the grounding of nearly half of its fleet.
Sam Bankman-Fried seeks to dismiss 10 out of 13 charges against him
His attorneys seek to dismiss the conspiracy to commit wire fraud and bank fraud charges, reports TechCrunch. The lawyers also seek to dismiss a few other charges, including bribery and political contribution charges, the report mentioned.
India, Canada agree to enhance cooperation for investment promotion, info exchange
This was finalised after both the countries concluded the 6th India-Canada Ministerial Dialogue on Trade and Investment in Ottawa on Monday.Union Commerce minister Piyush Goyal and Canadian Minister for International Trade Mary Ng concluded the negotiations for their respective countries.
Indian suppliers to help us export $10 bn worth goods from country by 2027: Walmart CEO
Addressing Indian suppliers and partners here, McMillon reinforced Walmart's continued commitment to India and to building an ecosystem of suppliers and partners, including small and medium enterprises. He also reaffirmed Walmart's roadmap of strengthening partnerships with Indian communities, expanding opportunities for local.
NCLT to decide on Go Airlines insolvency petition on Wednesday
Blaming the global aircraft engine maker Pratt & Whitney of not providing spare engines for defective ones resulting in the grounding of nearly half of its fleet, Go Airlines had approached NCLT with a petition for resolution on May 2. Hearing the petition on May 4, the NCLT had reserved its orders.
Google to give $100 mn to New York Times for 3 years to use its content: Report
The NYT in February this year announced an expansion of its agreement with Google. It "described as an expanded agreement that included content distribution and subscriptions, as well as using Google tools for marketing and ad-product experimentation." The NYT and Google did not immediately comment on the WSJ report.
Hiring in startups up in April, despite 6% annual drop in e-recruitment: Report
According to the report by foundit (previously Monster India & APAC), there has been a 4 per cent monthly dip, indicating cautious hiring sentiments among Indian recruiters. Although some sectors like BFSI (+3 per cent), Travel & Tourism (+2 per cent), and Import/Export (+13 per cent) experienced a boost on a month-on-month (MOM) basis, other sectors, such as Logistics, Home appliances, and Oil and gas, saw a significant decline.
Australian government forecasts first budget surplus in 15 years
Ahead of handing down the budget later at night, Chalmers revealed it would forecast a small surplus of approximately A$4 billion ($2 billion), reports Xinhua news agency. If realised, it marks the first time the balance has been in surplus in 15 years and a turnaround from previous projections. In March 2022, the former government forecast a budget deficit of A$78 billion for 2022-23, which was then revised down to A$36.9 billion by Chalmers in October.
Possibility of rival bids for Go Airlines? It is a hypothetical question: Kaushik Khona
"The risk of some other interested group making a bid for Go Airlines that may be attractive for the creditors is always there. Go Airlines might have gone to NCLT voluntarily with an intention to retain its assets, but the risk of facing rival bids does hang over the promoters heads like the Damocles sword," D. Varadarajan, Supreme Court advocate specialising in corporate laws, told IANS.
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