BUSINESS
Finance minister lauds state-owned banks for recording profits
In a series of tweets, she said, "The continuous efforts of our government for reducing the NPAs and further strengthening the health of PSBs are now showing tangible results. All 12 PSBs declared net profit of Rs 25,685 cr in Q2FY23". She said that the combined net profits of public sector banks recorded a year-on-year growth of 50 per cent.
CarDekho to infuse $100 million in its fintech subsidiary Rupyy
Rupyy crossed Rs 500 crore of monthly disbursal volume of car loans in September. The brand plans to hit Rs 10,000 crore annualised disbursals by March 2023.
Foxconn woos fleeing workers with $70 subsidy after iPhone production hi
Foxconn called the 'care and love' subsidy a 'pre-hiring' offer as workers would not be able to return until the seven-day lockdown is lifted this week, reports South China Morning Post.
Estimated 32 lakh weddings till Dec 14 with a trade of Rs 3.75 lakh cr
During this period, around 32 lakh weddings will be solemnised across the country with a massive flow of about Rs 3.75 lakh crore by way of wedding purchasing and obtaining various services in the business being conducted by trading community, as per a survey conducted by the CAIT Research & Trade Development Society.
upGrad to invest $30 mn to launch 10 global campuses next year
Under a new brand name UGDX', the company said it will open three campuses in the US (the San Francisco unit goes live in January), five in India (Delhi and Chennai) and one each in Singapore and Middle-East.
'Banks increase deposit rates, risk premia on loans not factored in'
In a research report Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI said: "A back of envelope estimate suggests that the core funding cost of the banking system is currently at around 6.2 per cent, while the reverse repo rate is at 5.65 per cent."
Now Meta plans to lay off 'thousands' of employees this week: Report
The "large-scale" job cuts, to begin from Wednesday, could affect "thousands" of workers, according to a report from The Wall Street Journal. "Social-media company's planned cuts expected to affect many thousands of its workforce. The planned layoffs would be the first broad head-count reductions to occur in the company's 18-year history," the report, citing sources, said late on Sunday.
Brainly fires nearly all from India team as not able to maintain some of roles
Impacted Brainly employees took to Twitter, sharing their examples. "Layoffs are sad, but what is worse is how they are handled. CEO comes on the call -- announces India shutdown and within 2 minutes slack and emails shut off, laptops disconnected. Everyone was shocked. And then no severance," said one affected employee. Corporate Chat India tweeted a screenshot of an affected employee from its account.
Reliance Industries ranked 20th in the world, highest among Indian companies in World's Best Employers rankings
RIL is ranked 20th in the world and the highest among Indian companies ahead of HDFC Bank at 137. Samsung was at the top spot in the ranking of World's Best Employers followed by Microsoft, IBM, Alphabet, Apple, Delta Airlines, Costco, Adobe, Southwest Airlines and Dell Technologies in the top ten, Reliance Industries with 2.3 lakh employees, is ranked 20th and is ranked above Rolex, Dassault Group, Huawei, Bosch, Mercedes Benz and Pfizer among others.
$8 Twitter Blue with verification in India in less than a month: Elon Musk
The company has already started testing Twitter Blue subscription plan for Apple iOS users, which provides verification and other benefits. When a Twitter follower asked Musk when can we expect to have the Twitter Blue roll out in India, the Tesla CEO replied: "Hopefully, less than a month".
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