BUSINESS
Swiggy adopts permanent work-from-anywhere policy
The decision was arrived at based on team needs and feedback from several managers and employees who vouched for the flexibility and increased productivity working from home has given them in the last two years, the company said in a statement. Under the new policy, the corporate, central business functions and technology teams will continue to work remotely and converge once every quarter at their base location for a week to promote in-person bonding.
PhonePe reaches amicable settlement with Affle Global to acquire OSLabs
PhonePe, AGPL Pte. Ltd. and OSLabs Pte. Ltd. have reached an amicable settlement in the matter, with PhonePe acquiring AGPL's entire stake at a premium. The closure of this deal allows PhonePe to pursue its stated vision of building a homegrown horizontal, local Appstore, while AGPL gets a premium on its original investment.
Ola may lay off 1,000 employees to ramp up EV plans
According to reports citing employee records, verticals like mobility, hyperlocal, fintech, and Ola's used car operations have included in the layoff process. However, according to sources close to the company, these layoffs may impact less than 500 employees and not 1,000, and "are a result of restructuring in the Cars and Dash businesses".
Nissan has shipped out one million 'Made in India' cars
The Nissan cars are made at Renault-Nissan Automotive India Private Ltd's (RNAIPL) plant near here. The company is a joint venture between Japan's Nissan and French automobile company Renault. Nissan Motor India has shipped its cars to about 108 countries since 2010. Nissan has transitioned its primary export market from Europe to the Middle East countries like Saudi Arabia, the UAE, Oman, Qatar, Bahrain and Kuwait.
Apple saw new doubling of revenues in India in Q2: Tim Cook
Speaking to analysts after posting a record June quarter, Cook said that the quarter recorded record revenue in developed and emerging markets "with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India."
Amazon stock up 14% despite 2nd consecutive quarterly loss
Net loss was $2 billion in the second quarter, compared with net income of $7.8 billion in the same period last year. The net loss in the second quarter (Q2) included a loss of $3.9 billion in non-operating expenses from Amazon's investment in Rivian Automotive, the Amazon said in a statement late on Thursday.
Google, Apple ban Battlegrounds Mobile India game in India following govt order
Battlegrounds Mobile India (BGMI) is the Indian version of PUBG Mobile, exclusively for players in the country developed and published by Krafton. The game was released on July 2, 2021 for Android devices, and on August 18, 2021, after the government had banned PUBG along with Chinese apps over national security concerns.
US economy contracts again amid fears of recession
Gross domestic product, a wide-ranging measure of economic activity, fell by 0.9 per cent on an annualised basis from April to June. That decline marks a key symbolic threshold for the most commonly used - albeit unofficial - definition of a recession as two consecutive quarters of negative economic growth.
Telecom industry has come a long way in 5G advancements: Ashwini Vaishnaw
Announcing the sixth edition of the India Mobile Congress (IMC) 2022, scheduled for September 29-October 1 in New Delhi, he said that the industry has emerged to become a sunrise industry in India and a benchmark for the world. "We are committed to make sure that India's regulatory systems are transformed to become the world's best so that industries across the globe are comfortable to invest and plan for the next 10 years," said the minister.
On time performance of various airlines records decline in May, June
On time performance of Go First was 94.5 % during January 2022 which came down to 71.8 % in May and 76 % in June. Similarly, On time performance of Spicejet was 87.5 % in January and it reduced to 70.9 % in May and 79.4 % in June. Other airlines including Indigo, Alliance Air, Air Asia and a few others recorded similar trends during the last few months.
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