BUSINESS
Google's parent company Alphabet to lay off 12K employees
Alphabet and Google CEO Sundar Pichai, in an internal memo accessed first by Reuters, announced the layoffs that are across the verticals, including engineering, product, recruiting and corporate teams. The layoffs at Google's parent company were expected amid the deepening funding winter that has hit companies of all sizes in the global slowdown and recession fears.
Mirae Asset Global Investments buys logistics centre in India
Mirae Asset Global Investments India has leased the 300,000-square-foot logistics center, which was built last year, to German logistics giant Rhenus, reports Yonhap news agency. Bhiwandi has emerged as a key logistics hub for global companies, such as Samsung, Amazon, BMW and Maersk.
EV makers expect extension of FAME II, duty cuts in Budget 2023-24
According to the survey, the electric vehicle makers want the FAME II subsidy scheme to be extended beyond March 2024 and also bring the commercial vehicles under it. After the momentum witnessed in electric vehicle adoption in 2022, it will be critical for the government to continue to support the adoption
Reliance Industrial Infra logs Rs 190.43L net for Q3
The company said it continues to provide infrastructure support services, namely transportation of petroleum products and raw water through pipelines, construction machinery on hire, and other support services to Reliance Industries Group, with a substantial portion provided to Reliance Industries Limited.
Urination case: DGCA imposes Rs 30 L fine on Air India, suspends Pilot-In-Command for 3 months
Moreover, the regulator has also imposed a penalty of Rs 3 lakh on Director-in-flight services of Air India for failing to discharge her duties on November 26, 2022. The development in the case came a day after the airline banned the alleged accused Shankar Mishra for four months
Swiggy lays off 380 employees as food delivery growth slows
"While we'd already initiated actions on other indirect costs like infrastructure, office/facilities, etc, we needed to right-size our overall personnel costs also in line with the projections for the future. Our overhiring is a case of poor judgement, and I should've done better here," he added.
SEBI raids market experts' cronies for front-running
The raids comprising search and seizures were carried out at the homes and offices of around half a dozen entities reportedly engaged in front-running based on illegally obtained market information for profits. The SEBI sleuths swooped at multiple locations in Pune, Kolkata, NOIDA and Jaipur
Job cuts deepen at chip-maker Intel, set to be completed by Jan 31
According to an official filing posted by the state Employment Development Department, the company has listed the elimination of about 201 jobs in Santa Clara by January 31. The company in December anticipated it would be reducing 90 jobs in Santa Clara. The latest information shows "that number has more than doubled and that Intel now plans to eliminate 201 jobs".
SC ruling limited to interim relief, didn't decide merits of our appeal: Google
A company spokesperson said in a statement that the decision "is limited to interim relief and did not decide the merits of our appeal". "Android has greatly benefited Indian users, developers, and OEMs and played a key role in India's digital transformation. We remain committed to our users and partners and will cooperate
US hits debt ceiling, Treasury Department takes 'extraordinary measures'
Treasury Secretary Janet Yellen announced in a letter to House Speaker Kevin McCarthy that her department would put the temporary brakes on new investments in a few government retirement funds, from Thursday until June 5. Those include the Postal Service Retiree Health Benefits Fund and a couple of others, Xinhua news agency reported.
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