BUSINESS
Amazon to shut food delivery business in India
"As part of our annual operating planning review process, we have made the decision to discontinue Amazon Food," said a company spokesperson. "We don't take these decisions lightly. We are discontinuing these programmes in a phased manner to take care of current customers and partners," the spokesperson added.
Insolvency proceedings begin in Ansal Properties and Infrastructure
The creditors of Ansal Properties have been asked to submit their claims with proof by December 1 to the interim resolution professional. The classes of creditors ascertained by the interim resolution professional include home buyers and deposit holders. Ashwani Kumar Singla has been appointed as interim resolution professional for Ansal Properties.
Government releases Rs 17,000 crore GST compensation to states
The total amount of compensation released to the states so far, including the aforesaid amount, during 2022-23 is Rs 1,15,662 crore, official sources said. This is despite the fact that total cess collection till October, 2022 is only Rs 72,147 crore and the balance of Rs 43,515 crore is being released by the Centre from its own resources.
VMware posts $3.2 bn in revenue in Q3 amid acquisition by Broadcom
VMware's shares fell slightly in after-hours trading after it reported lower-than-expected earnings and revenue. The virtualisation software giant reported a net profit of $231 million, way down from $398 million in profit it posted in the same period last year.
Delhi High Court grants bail to Yes Bank Co-founder Rana Kapoor
The case was registered by the Enforcement Directorate (ED). Justice Sudhir Kumar Jain allowed the bail plea filed by Rana. A copy of the order is awaited. Earlier, a trial court had granted bail to 15 co-accused persons, whereas, Kapoor was denied bail. The Special Judge had observed that the allegations against Kapoor were grave and serious in nature.
EU heads for December agreement on gas price cap
Energy ministers of European Union (EU) member states will reconvene to seek a common ground on the currently controversial draft measures, Xinhua news agency quoted the Minister as saying on Thursday. EU member states reached a political agreement on a package of measures that will allow households and businesses to buy enough energy at affordable prices, Sikela said.
US consumers spend $11 bn more online for domestic flights this year
Domestic flight bookings so far this year have driven $76 billion in online spend, 17 per cent more than the comparable period in 2019 (pre-pandemic), where $65 billion had been spent. While the $11 billion difference is partly driven by higher prices, bookings have also grown 5 per cent compared to 2019, according to data from Adobe Analytics Insights.
Regular colouring of grey hair, no religious threads: Air India's grooming guidelines
The new guidelines said that male crew with a deep receding hairline or balding patches must keep a clean shaven or bald look. It also said that the head must be shaved daily. The grooming guidelines said that while grey hair is not permitted, it must be regularly coloured in a natural shade and fashion colours and henna are not allowed.
Rupee weakening due to dollar strengthening, economy can't be blamed: Piyush Goyal
Addressing the Times Now summit, the minister, despite rising inflation, sounded an optimistic note, noting that compared to sky rocketing inflation in many countries, where it is ranging between 8 to 10 per cent, India has maintained a fair balance between inflation and interest rates and price rise in the country is much lower than compared to others.
India's growth could slow down next year: Moody's
However, at the same time, it has noted that investments and productivity gains in technology and agriculture could push its growth. "Risks to this outlook are largely balanced. On the upside, inward investment and productivity gains in technology, as well as in agriculture could accelerate growth," the report said.
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