BUSINESS
Sequoia India may invest $50 mn in homegrown edtech startup
According to a TechCrunch report on Tuesday, K12 Techno Services which has raised more than $75 million in previous rounds and also engaged with TPG and Accel decided to go with existing backer Sequoia India. "The terms of the investment might change because the round has not yet concluded. It is unknown if any other investors, outside Sequoia, are participating in the round," the report said, citing sources.
Totalitarianism finally hurting China's economic prospects
A violation of that rule would lead to forced disappearance and/or execution. There is no official record on death penalties in China as the single-party regime treats such information as "state secrets". However, unofficial evidence suggests that the country delivers maximum capital punishments of over 1,000 a year, followed by Iran, Egypt, Iraq, Saudi Arabia etc.
CCI slaps Rs 935 crore fine on Google, 2nd penalty in 1 week
Last week, the market watchdog had imposed a penalty of Rs 1,337.76 crore on Google for abusing its dominant position in multiple markets in the Android mobile device ecosystem. In its fresh ruling, the regulator found Google to be dominant in the markets for licensable OS for smart mobile devices and market for app stores for Android smart mobile OS, in India.
Unilever recalls Dove, other aerosol dry shampoo brands
Benzene can cause cancer. As per reports, some other brands which have been recalled include Nexxus, Suave, Tresemme and Tigi, which makes Rockaholic and Bed Head dry shampoos, according to a notice posted on the Food and Drug Administration's website.
Meta must cut 20% jobs, reduce spending on metaverse: Key investor
In an open letter on Medium addressing Zuckerberg, Altimeter Capital Chair and CEO Brad Gerstner said that Meta needs to re-build confidence with investors, employees and the tech community in order to attract, inspire, and retain the best people in the world. "In short, Meta needs to get fit and focused."
Wheat procurement, MSP fell in current Rabi season 2022-23 due to geopolitical situation: Government
According to official sources, wheat procurement in the current season of 2022-23 fell by 56.64 per cent compared to 2021-22 season. In 2022-23 Rabi season, wheat procurement was only 187.92 lakh metric tonnes (LMT) down by 56.64 per cent from 433.44 LMT procured in 2021-22.
China shares slump in US as Xi starts 3rd term
Chinese technology giants Alibaba and Baidu fell by over 12 per cent in New York, the BBC reported. investors fear the world's second largest economy will be held back by its tough Covid-19 restrictions. One analyst said Beijing was in a "tug-of-war" between measures to boost growth and its zero-Covid policies.
India Space Congress 2022 enables startups to partner in $1.5tn space economy
As part of the Founders hub program, 15 selected startups may apply to Founders Hub and avail up to $150,000 worth of free Azure credits. Five finalists of Space Tech startups will be pitching their ideas to the industry leaders and investors at the session 'Pitch Right for Skyrocketing Startups' on October 27, 2022. A specially curated mentorship engagement with senior executives of leading companies is in store for the startups.
Japan keeps economic view for 4th straight month
According to the Cabinet Office, volatility in financial markets following the yen's recent slump against the US dollar is being closely monitored, and while business investment has shown an improvement, Xinhua news agency quoted the report as saying. "The Japanese economy is picking up moderately. Full attention should be given to price increases, supply-side constraints and fluctuations in the financial and capital markets," the report added.
Softbank-backed health unicorn Cerebral laying off 400 people
According to The Wall Street Journal, nearly 400 people will lose their jobs, primarily clinical staff and care counselors. A memo from its CEO, David Mou said the cuts would affect employees across the company, including at headquarters and among clinical care staff and support workers.
Don't Miss
Advertisement