BUSINESS
Indian agrifood startups get record $4.6 billion investment in FY22
Farmtech startups raised $1.5 billion across 140 deals, a 185 per cent year-over-year increase, according to the report by VC firms AgFunder and Omnivore. Restaurant marketplaces and e-grocery startups secured close to $3 billion, around 66 per cent, of the total investment. Deal activity also increased to 234 in FY2022 compared to 189 deals in FY2021. Downstream startups raised $3.8 billion, a 115 per cent increase from $1.77 billion in FY2021.
Cognizant acquires US-based management consulting firm AustinCSI
Based in Dallas, Texas, AustinCSI provides consulting services for Fortune 500 clients across industries. The privately-held company has more than 175 consultants who design and deliver cloud and automation solutions. "AustinCSI has built a stellar reputation by improving business outcomes for some of the world's most recognisable brands, particularly in the telecommunications, media, technology and automotive sectors, markets where Cognizant is also strong," said Michael Valocchi, SVP, Head of Cognizant Consulting and Americas Strategy.
German inflation slips back to 10% in Nov
After rising for three months in a row, the rate peaked at 10.4 per cent in October, the highest level since the country's reunification in 1990, reports Xinhua news agency citing the Destatis data. In November, food prices still increased by an above-average rate of 21 per cent year-on-year. Although energy prices eased slightly, German consumers were still paying 38.4 perc ent more for energy products, including household energy and motor fuels, than a year ago.
Apple iPhone 14 Pro shipments may drop by 20 mn in Q4
According to Apple analyst Ming-Chi Kuo, the shipments of iPhone 14 Pro and iPhone 14 Pro Max models will be between 15 million and 20 million units lower than expected, reports AppleInsider. As there have been numerous problems at the iPhone supplier Foxconn's factory in Zhengzhou, China, including lockdown restrictions and employee riots, the Apple-focused analyst has reduced their shipping estimate by 20 per cent.
Elon Musk delays paid verification launch to avoid Apple's 30% cut
Twitter employees have been informed of additional changes coming to Blue, such as a 1 cent price hike from $7.99 to $8 and the need for a phone number verification, reports The Verge. When Twitter's new Blue subscription arrives on iOS, it might not be offered as an in-app purchase to avoid Apple's 30 per cent cut of App Store purchases.
Jack Ma enjoys hot spring, ski resort in Japan as China simmers
Financial Times reported, citing sources, that Ma and his family are enjoying hot spring and ski resorts in the countryside outside Tokyo amid regular trips to the US and Israel. "Since his fallout with Chinese authorities, Ma has been spotted in various countries, including Spain and the Netherlands," the report mentioned. Ma has reportedly been living in central Tokyo for nearly six months, amid Beijing's ongoing crackdown on the country's technology sector.
Markets welcome Adani group gaining substantial stake in NDTV
Accordingly, NDTV's scrip opened at Rs 420 and touched a high of Rs 426.40 intra-day before closing at Rs 426.40 on Tuesday. RRPR Holding is the investment company of NDTV promoters -- Prannoy Roy and Radhika Roy -- that holds 29.18 per cent stake in NDTV, which has three national television channels.
Biocon Biologics completes acquisition of Viatris Inc
The acquisition provides Biocon Biologics with direct commercial capabilities and supporting infrastructure in the advanced markets and several emerging markets, bringing it closer to patients, customers and payors, the company said. With this acquisition, Biocon Biologics emerges as a world-leading biosimilars player with eight commercialised products.
Alibaba to sell shares worth $200 mn in Zomato: Report
According to CNBC Awaaz, citing sources, Ant Financial and Alipay would bring down their stake in the Deepinder Goyal-run food delivery unicorn to about 10 per cent from the current 13 per cent. "The block deal is said to happen at a discount of about 5-6 per cent," said the report.
PM Modi expresses happiness on rising mobile phone exports
Mobile phone exports raced past the $5 billion-mark within seven months. This is more than double of $2.2 billion that India clocked in the same period last year. On a tweet by Minister of State for Information Technology and Electronics, Rajeev Chandrasekhar, the Prime Minister replied, "India continues to make strides in the world of manufacturing."
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