BUSINESS
2 Indian-Americans in Fortune's 40 Under 40 List
"Honoured to be included on Fortune's 40 Under 40 list this year! Especially amongst all the amazing trailblazers shaping the healthcare industry. A well-deserved recognition of our incredible team at BicycleHealth and their dedication to the care of patients with OUD (Opioid Use Disorder)," Ankit Gupta wrote in a tweet.
LIC's sale of RCAP debt to ACRE upsets lenders and bidders
LIC is conducting a Swiss Challenge process to invite bids (EOIs) from Asset Reconstruction Companies (ARCs) to sell its exposure in the Reliance Capital. The last date to submit the EOIs is November 25. On the other hand, the deadline to submit the binding bids for RCAP ends on November 28.
Amazon begins firing 10K employees, Alexa & Cloud gaming worst hit
Amazon is aiming to eliminate about 10,000 jobs, mostly in retail, devices and human resources. "Amazon employees were called into meetings with their managers across the country Tuesday, and many were told they had two months to find another job internally or accept severance payment," the Washington Post reported late on Tuesday.
Adani takeover target NDTV scrip hits upper circuit
The scrip had touched the 52 week high of Rs 567.85 and low of Rs 75.55. NDTV shares went up following the nod given by the Securities and Exchange Board of India (SEBI) to the Adani Group to float the open offer for 26 per cent stake in the channel company.
Markets flare up, Sensex crosses 62,000 mark
The Sensex opened at 61,708.63 points and touched a high of 62,052.57 points and came down slightly. The Sensex touched a low of 61,708.63 points and later rallied up to cross the 62,000 mark again at about 12.35 p.m. The Sensex's all time high was 62,245.43 which was on 19.10.2021, as per BSE.
US fines Air India $1.4 million for 'extreme delays' in giving passengers refunds
Announcing the action against the Indian flag carrier and five other airlines on Monday, Transportation Secretary Pete Buttigieg said: "A flight cancellation is frustrating enough, and you shouldn't also have to haggle or wait months to get your refund." If passengers don't get refunds promptly for cancelled flights, "we will act to hold airlines accountable on behalf of American travellers and get passengers their money back", he warned.
Piramal Capital withdraws insolvency proceedings against Reliance Power
Reliance Power, in a stock exchange disclosure, has informed that the Piramal Capital and Housing Finance has withdrawn the application made against Reliance Power Ltd. under section 7 of the Insolvency and Bankruptcy Code 2016. This follows an out of court settlement between both the companies Rs 526 crores loan default by Reliance Power and it's subsidiary, Reliance Natural Resources Ltd. (RNRL).
Diabetes care platform BeatO raises $33 mn led by Lightrock India
The fresh funding will be used to scale BeatO's platform, continue to invest in its product and technology, and to strengthen the reach of its evidence-based care programmes, it said in a statement. Founded by Gautam Chopra, Yash Sehgal and Kunal Kinalekar, BeatO provides an affordable, comprehensive and patient-centric digital solution to millions of people with diabetes who have limited access to good quality and continuous care.
Europe's energy crisis may last beyond winter: Analysts
The Ukraine war has sent energy prices surging, which in turn pushed up inflation rates and disrupted international supply chains, reports Xinhua news agency. Last week, the European Commission predicted that the 27-nation European Union (EU) would slide into recession this winter, stating that the bloc is "among the most exposed advanced economies" to the impact of the war. Last week, the European Commission predicted that the 27-nation European Union (EU) would slide into recession this winter.
Elon Musk fires at least 20 Twitter employees for criticising him
Musk, who laid off about 3,800 full-time employees and more than 5,000 contractual workers is additionally getting rid of anyone who dares criticise him. Platformer's Casey Newton put the number of those sacked closer to 20 software engineer and tech writer Gergely Orosz tweeted that around 10 people have been fired for speaking up internally against Musk. "For those saying that criticising should be done in private: I have reports for a number of employees similarly terminated the past 24 hours.
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