BUSINESS
Paytm FY22 results: Revenue jumps 77% to Rs 4,974 cr, losses reduce 8% to Rs 1,518 cr
In Q4 alone, the company's revenue grew 89% on a year-on-year basis to Rs 1,541 crore, while EBITDA (before ESOPs) for the quarter improved 12 per cent year-on-year. The growth in revenue was led by the increase in consumer and merchant payments and disbursements of loans through its partners on Paytm.
UK consumer confidence plunges to record low amid cost-of-living crisis
May's result, down two points from April to minus 40, is one point below the previous record set in July 2008, when the headline score plunged to minus 39, Xinhua news agency quoted Joe Staton, client strategy director at the GfK, as saying on Friday. "This means consumer confidence is now weaker than in the darkest days of the global banking crisis, the impact of Brexit on the economy, or the Covid shutdown," he added.
Joe Biden tours Samsung chip plant in S.Korea amid supply chain woes
The two met at the facility in Pyeongtaek, 70 kms south of Seoul, shortly after Biden arrived in the country on his first visit as president and only 10 days after Yoon took office, reports Yonhap news agency.
Grounded airline Jet Airways to fly soon, DGCA grants operator certificate
The Naresh Goyal-founded airline operated its first commercial flight in May 1993 but had ceased operations in early 2019 due to some financial difficulties. Before this, Jet Airways flew to over 65 destinations in India and across the world with 124 narrow-body and wide-body aircraft.
RBI approves Rs 30,307 cr as dividend to Centre for FY22
The 596th meeting of the Central Board of Directors of Reserve Bank of India was held on Friday at Mumbai under the Chairmanship of Governor Shaktikanta Das, and reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments.
Equities recover previous losses led by gains in media, realty, metal stocks
China's cutting of its key lending rate also supported the indices back home. In a bid to stimulate economic activity hit by the latest outbreak of the Covid, the Chinese central bank cut the five-year prime rate by 15 basis points to 4.45 per cent.
Now Amazon takes a dig at metaverse as Zuckerberg makes grand plans
Addressing the 'Future of Everything Festival' by The Wall Street Journal, Limp said that even with current technology like smartphones and wireless earbuds, it can be hard to communicate with his kids, even when they're in the same house. "I want to try to work on technologies that bring people's heads up, get them to enjoy the real world, make the family a more communal experience," he was quoted as saying at the event.
Now Zilingo fraud saga threatens India's great startup run
After the long-drawn Ashneer Grover-BharatPe saga that put corporate governance on top of the stakeholders' minds, Singapore-based fashion-tech startup Zilingo asked Bose - who co-founded Sequoia Capital-backed Zilingo as a 23-year-old in 2015 -- to stay out of office till May 5, accusing her of inflating revenues.
Axis Mutual Fund sacks fund manager facing charges of front running
On 4 May, Axis AMC had suspended Joshi and another fund manager. Axis MF, in an official statement, said, "Axis AMC has been conducting a suo moto internal investigation since February 2022, using reputed external advisors to assist with this investigation."
Intel to invest $700 mn on R&D in innovative data centre tech
Additionally, the company introduced the technology industry's first open intellectual property (open IP) immersion liquid cooling solution and reference design. "The future of the data centre and data centre design is based on innovative and sustainable technologies and practices," said Sandra L Rivera, Intel executive vice president and general manager of Datacenter and AI Group.
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