BUSINESS
Unacademy lays off nearly 600 workers, aims to become profitable by Q4 2022
The company said it discussed and parted ways with the identified people, in accordance with their respective contracts. "Based on the outcome of several assessments, a small subset of employee, contractor, and educator roles were re-evaluated due to role redundancy and performance, as is common for any organisation of our size and scale. The vast majority of roles impacted has been a result of that process, and the efficiency we aim to drive in the broader business," a company spokesperson said in a statement.
India's FY23 retail inflation rate projection raised to 5.7%
In his policy statement post the Monetary Policy Committee's (MPC) bi-monthly meeting, RBI Governor Shaktikanta Das said: "Taking into account these factors and on the assumption of a normal monsoon in 2022 and average crude oil price (Indian basket) of $100 per barrel, inflation is now projected at 5.7 per cent in 2022-23, with Q1 at 6.3 per cent; Q2 at 5.8 per cent; Q3 at 5.4 per cent; and Q4 at 5.1 per cent."
International Holding Company to invest $ 2 billions in Adani Group's green portfolio
The boards of AGEL, ATL and AEL met and approved the transaction. The investment is subject to shareholder and regulatory approvals and shall comply with SEBI regulations. Sagar Adani, Executive Director, AGEL, said, "We are delighted to commence this intergenerational relationship with IHC. We are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy and energy transition.
Ashneer threatens legal action against CEO, Board over comment against sister
In a letter written to BharatPe Board, Ashneer said that Sameer should be "immediately served a show-cause notice for his despicable public behaviour and immediately put on leave of absence to manage the damage to the Brand of the company". In a LinkedIn post on Thursday, Sameer replied to a comment posted by Ashima Grover, who is Senior Manager at MetLife, saying "Your brother stole all the money. Very little left to pay the salaries."
US weekly jobless claims fall to lowest level in 5 decades
In the week ending April 2, the number of Americans filing for unemployment benefits decreased by 5,000 from the previous week's downwardly revised level of 171,000, according to a report released on Thursday by the Department's Bureau of Labour Statistics (BLS). Companies are struggling to hire as labour market supply cannot meet demand. The number of job openings was little changed at 11.3 million by end of February, the BLS reported last week.
Markets open on positive note, turn negative
The Sensex of the BSE opened at 59,256.97 and touched a high of 59,297.46 points. The Sensex touched a low of 58,970.87 points. On Thursday, the Sensex closed at 59,034.95 points. The Sensex is trading at 58,973.12 down by 61.83 points or 0.10 per cent
IEA to release 120 mn barrels of oil amid global energy shortage
The Governing Board of IEA confirmed that it's the largest stock release in IEA's history, Xinhua news agency reported. IEA said the "unanimous" agreement to release the stock was reached by its 31 member countries on April 1. It is the IEA's second release of reserves since the Russia-Ukraine conflict. In a first step, 62.7 million barrels of crude oil were freed up on March 1.
Ukraine conflict, climate action play major role in Canada's 2022 budget
The budget she tabled on Thursday includes more than $6.4 billion in new funding over five years to better equip the Canadian Armed Forces; increase Canada's contributions to the North Atlantic Treaty Organization (NATO) and the North American Aerospace Defense Command (NORAD); and reinforce Canada's cyber-security strategy to prevent and defend against attacks, including those against government agencies and critical infrastructure.
Shares of HDFC twins erase entire post-merger gains
In a major development on Monday, housing loan firm Housing Development Finance Corporation (HDFC) on Monday approved the merger of its wholly-owned subsidiaries HDFC Investments and HDFC Holdings with the HDFC Bank. On the same day, both the shares rose nearly 10 per cent each. From Tuesday to Thursday, they erased entire Monday's gains and reached the pre-merger levels.
In Elite Club: M3M India's Basant Bansal enters Hurun Real Estate Rich List 2021
With 75 per cent growth in wealth, Basant Bansal and family gained eight spots and to be ranked seventh in the list. Basant Bansal and family also ranked first in Gurugram and second in Delhi, as per city-wise ranking. Known for premium and luxury housing projects, M3M India's Basant Bansal has also been ranked fourth in the categories of 'Top Property Developers with a focus on Premium Housing', and 'Top Residential Property Developers in India'.
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