BUSINESS
Maharashtra Police book Anahita Pundole for 'negligent' driving leading to Cyrus Mistry's death
The Palghar police have filed a case against Anahita Pundole (55), who was said to be speeding the illfated Mercedes Benz on a bridge over Surya river on the Ahmedabad-Mumbai National Highway. Besides Mistry, Jehangir Dinshaw Pundole was also killed in the crash while his brother Darius Dinshaw Pundole and sister-in-law Anahita received serious injuries.
Unfortunately, there is no choice: Musk on Twitter layoffs
After axing nearly 3,800 employees across the globe, including in India, the new Twitter CEO said that he has given three months of severance to everyone who has been asked to go. "Regarding Twitter's reduction in force, unfortunately there is no choice when the company is losing over $4M/day. Everyone exited was offered 3 months of severance, which is 50 per cent more than legally required," Musk tweeted.
Cement companies mull price hike of Rs 10-30/bag
Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said.
NIIT acquires US-based St. Charles Consulting Group for $23.4 mn
Headquartered in St. Charles, Illinois, St. Charles Consulting Group is a leading provider of consulting, design, and implementation solutions for strategic learning programmes to professional services firms and Fortune 500 companies.
Tata Motors to hike prices of passenger vehicles
The passenger car segment is logging good monthly growth for the industry players. While Tata Motors did not specify the model wise price hike, it said the weighted average increase will be 0.9 per cent depending on the variant and the model.
Wheat prices up again due to tighter supplies in US: FAO
The observation made in the FAO's Food Price Index issued on Friday was unchanged from September after six consecutive months of decline, reports Xinhua news agency. The grains and cereals sub-index rose by 3 per cent, building on a 2.2 per cent increase a month earlier.
Bloodbath at Twitter as Elon Musk sacks half of 7,600 employees
Teams focused on trust and safety issues were hit the hardest, including those tasked with defending against election misinformation ahead of the US midterms on November 8, reports The Verge. The Twitter verticals that were the worst-hit included product trust and safety, policy, communications, tweet curation, ethical AI, data science, research, machine learning, social good, accessibility, and certain core engineering teams.
Hospitality group Marriott International to add 13-14 properties in 12 months time
"Currently, the Marriott is managing about 134 properties under different brands. Another 13-14 more hotels will be added in 12 months time," Gaurav Singh, Market Vice President, South & East India, Bangladesh and Sri Lanka, said. The group has about 60 agreements for hotels to open in the future.
Twitter saw massive revenue drop as activist groups pressured advertisers: Musk
In a tweet, the new Twitter CEO who is firing at least half of its workforce globally, including in India, said these activist groups are destroying free speech. "Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists," Musk said in a tweet.
Twitter faces class-action lawsuit over mass layoffs without notice
The plaintiffs said they were "terminated on November 3 by being locked out of their accounts". "Twitter is also enacting widespread layoffs across its workforce today, on Nov. 4, 2022, it stated, adding that California's Employment Development Department had not received a notice related to the event," they said.
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