BUSINESS
Pakistan's default risk spikes
Pakistan is scheduled to repay $1 billion against a five-year 'Sukuk '(Shariah-compliant bond) maturing on December 5, The Express Tribune reported.
Elon Musk fires employee who corrected him on Twitter
The saga began on Sunday when Musk posted a tweet to apologise for the micro-blogging platform's bad performance in "many countries" and claimed that the application makes over 1,000 "poorly batched" remote procedure calls to "render a home timeline", reports The Verge.
Musk faces 2 tough trials this week amid Twitter mess
The pay package plan, approved by Tesla shareholders, relies on the electric car-maker hitting certain milestones in the next 10 years. "The CEO is expected to earn the final batch early next year, allowing him to collect an estimated $56 billion, the largest compensation awarded to anyone on Earth from a publicly traded company," according to the report.
Petrol and diesel can come under GST if all states agree: Hardeep Puri
Puri, who was in Srinagar, told media persons that for bringing petrol and diesel under GST, the states need to have a consensus. So if the states are ready, then the Centre would also be prepared as it has been ready for it all along, he added, as per reports. At the same time though, he noted that how would be implemented, is another issue altogether, and this should be addressed to the Finance Minister.
SpiceJet reports net loss of Rs 837.8 crore
Total revenue for the reported quarter was Rs 2,104.7 crore as against Rs 1,538.7 crore in the same quarter of the previous year. For the same comparative period, operating expenses were Rs 2,942.6 crore as against Rs 2,100.4 crore. On an EBITDA basis, loss was Rs 413.59 crore for the reported quarter as against a loss of Rs 106.4 crore for the quarter ended September FY2022.
Amazon plans to lay off 10,000 of its workforce: Report
According to The New York Times, the cuts will target Amazon's devices organisation, which includes the voice assistant Alexa, as well as its retail division and human resources. The total number of layoffs is yet to be determined, but if it is around 10,000, it would represent about 3 per cent of Amazon's corporate employees and less than 1 per cent of its global workforce of more than 1.5 million.
Bezos says will donate most of his $124 bn fortune in his lifetime
Bezos told CNN that the money will go towards fighting climate change and "supporting people who can unify humanity in the face of deep social and political divisions". Bezos' partner, the journalist-turned-philanthropist Lauren Sanchez, said the couple is "building the capacity to be able to give away this money".
SoftBank writes off $100 million investment in bankrupt crypto exchange FTX
According to MarketWatch, the investment is now marked down to zero with SoftBank saying "it would not face a material markdown in the value of its stake".
Sri Lanka's 2023 budget aims a way out of current economic crisis
Anticipating an International Monetary Fund (IMF) $2.9 billion bailout, Wickremesinghe said that negotiations are currently in progress and the government is "in dialogue with India and China on debt restructuring". "We are confident that these discussions will lead to positive outcomes," he said.
Retail inflation slides to 6.77% in October
Though food inflation in October fell to 7.01 per cent from 8.6 per cent in the previous month, prices of meat and egg, milk, vegetables, and cereals rose. Retail inflation in October though was at a three-month low from a five-month high of 7.41 per cent in September.
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