BUSINESS
Crypto exchange Coinbase fires 950 people, shuts down 'several' projects
Coinbase Co-founder and CEO Brian Armstrong said that as part of this round of headcount reduction, "we will be shutting down several projects where we have a lower probability of success". The crypto company in June last year eliminated 18 per cent of its workforce, or nearly 1,100 people.
Coal India bullish on pursuing projects through MDO mode
MDOs, sources say, bring to the table mutually beneficial technology infusion, economically viable operations and increased production. Since contracts offered to them are on long-term basis, allied infrastructure at mine projects also would be developed by these private players.
Go First begins probe, offers free tickets as DGCA holds airline did not comply with rules
Moreover, the airline decided to offer all affected passengers one free ticket for travel on any domestic sector. "In line with our philosophy of customer centricity, the airline has decided to offer all affected passengers one free ticket for travel on any domestic sector in the next 12 months," said the airline in a statement.
Rs 13,573 crore invested via MF SIPs in Dec' 22
Last month's SIP contribution was much higher than Rs 11,305.34 crore that was invested in December 2021. "Investors will continue to invest in the India growth story through the mutual fund route over the near future. Investors are looking forward to a growth-oriented budget which should have a positive impact on the markets.
Take a virtual tour of MG Pavilion at 'Auto Expo 2023' in metaverse
MG has teamed up with Metadome to offer an enriching digital experience for remote visitors. The MGverse offers an integrated Explore & Creator's centre, a virtual experience zone with extended customer experience touchpoints and the MG Arena including an 'Avatar Shop', among other options.
Ethanol blending hiked from 1.5% to 10% since 2013-14: Government
He said that India has been able to navigate through the most formidable energy crisis the world has seen since the 1973 oil crisis thanks to its energy security strategy focussing on diversification of energy supplies, increasing India's exploration and production footprint, and meeting energy transition through gas-based economy, Green Hydrogen and electric vehicles.
BharatPe finally gets RBI nod for online payment aggregator
The company said that the in-principle approval has been awarded to Resilient Payments Private Ltd, a 100 per cent owned subsidiary of Resilient Innovations Private Ltd (BharatPe). "At BharatPe, we have been committed to empowering offline merchants and kirana store owners in the country and have already built a network of 1 crore merchants across more than 400 cities," said Nalin Negi, CFO and interim CEO, BharatPe.
Despite lower sales volume, vehicle makers to post higher profit, revenue
According to the report, the vehicle makers are expected to post de-growth of revenue and net profit on a sequential basis due to the reduction in wholesales sales in December 2022 post-festive season due to the normalization of channel inventories. On the demand scenario, Axis Securities said the commercial vehicles growth would continue with the government infrastructure push and replacement demand.
'Make in India' TV shipments grow 33% to reach 5 mn units
In the electronic wearables category, the true wireless stereo (TWS) segment led in terms of local manufacturing with almost 37 per cent of its shipments being manufactured in the country, according to Counterpoint Research. Bharat FIH led the 'Make in India' TWS shipments, followed by Padget, while Optiemus led the locally manufactured smartwatch shipments.
BMW recalls over 14K electric cars over crash risk
The recall covers certain iX SUVs and i4 and i7 sedans produced between October 14, 2021, and October 28, 2022. The software issue relates to the high voltage battery electronic control unit, according to BMW."The high voltage battery electronic control unit (ECU) software may cause an interruption of electrical power,"
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