BUSINESS
Livspace earmarks $100 mn to invest in D2C brands in home segment
With this money, Singapore-based Livspace aims to create multiple home interiors and renovation solutions and D2C offerings which serve homeowners across various segments in its markets across India, South-east Asia and the Middle-East region. "As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster," said Anuj Srivastava, CEO and Co-founder, Livspace.
RBI looking at phased implementation strategy to launch digital currency
"RBI has been exploring the pros and cons of introduction of the CBDCs for some time. As there are multiple compelling motivations for the introduction of CBDCs, RBI is currently engaged in working towards a phased implementation strategy, going step by step through various stages of pilots followed by the final launch, and simultaneously examining use cases that could be implemented with minimal or no disruption," the note said.
'Europe will feel consequences of rejection of Russian energy for another 20 years'
"The Europeans kept repeating, like a mantra, that it was necessary to get rid of dependence on Russia for energy resources, oil and gas, . As a result, in European countries today production is being curtailed, de-industrialisation is on the way. All this, and, probably, in the next 10-20 years, at least, will have very, very deplorable consequences for the European continent," Peskov said, RT reported.
Elon Musk reveals to Indian follower how Tesla caught employee who leaked data in 2008
Vaibhav Balghare who has a Twitter handle @NASAEarthMars asked Musk that how did he caught "that employee who leaked the confidential data of Tesla and sold it to the news outlet?" in 2008. The Tesla CEO replied: "That is quite an interesting story. We sent what appeared to be identical emails to all, but each was actually coded with either one or two spaces between sentences, forming a binary signature that identified the leaker".
Markets to gain after initial setback
At the end of the week, BSESENSEX gained 764.34 points or 1.33 per cent to close at 58,191.29 points while NIFTY gained 220.30 points or 1.29 per cent to close at 17,314.65 points. The broader indices saw BSE100, BSE200 and BSE500 gain 1.22 per cent, 1.28 per cent and 1.37 per cent respectively. BSEMIDCAP gained 2.14 per cent while BSESMALLCAP gained 2.57 per cent. Markets gained on two of the four trading sessions and lost on the remaining two.
Direct tax collection grows 23.8% to Rs 8.98 lakh cr till Oct 8
Direct tax collection, net of refunds, stood at Rs 7.45 lakh crore, which is 16.3 per cent higher than the net collection for the corresponding period of last year. This collection is 52.46 per cent of the total budget estimates of Direct Taxes for 2022-23. Refunds amounting to Rs 1.53 lakh crore have been issued between April 1 and October 8, which are 81 per cent higher than refunds issued during the same period in the preceding year.
This CEO wants people to be happy that he laid off 500 employees
McCarthy was apparently surprised to learn that media reports "accentuated the negative" from his lay-off announcement. The Verge reported, citing an internal memo the CEO issued, that accused the Wall Street Journal of creating the wrong impression instead of praising the company.
EV production likely to reach 54 mn units by 2029: Report
"Semiconductors required for power electronics will comprise the largest market, with growth accelerating in line with the push towards battery electric vehicles and the move towards higher performing, more efficient wide bandgap semiconductors," said Asif Anwar, Executive Director at Strategy Analytics.
I find it vaguely therapeutic to express myself on Twitter: Elon Musk
In an interview with the Financial Times, the world's richest man said: "I play the fool on Twitter and often shoot myself in the foot and cause myself all sorts of trouble." "Aren't you entertained?" Elon Musk replied with a roar of laughter when asked why a serious guy with serious ideas indulges in silly Twitter games that could also cost his followers dearly.
Business better than 2019, Happy Days Are Here Again: Hoteliers
With room rates heating up, guest arrivals increasing, footfalls into their restaurants going up as well the online orders, hoteliers are happier a lot now. The business now is better than what it was in 2019-before the Covid-19 pandemic. It is not the pent-up demand but an organic demand, a couple of General Managers of star hotels told IANS.
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