Hemant Bakshi, the CEO of Ola Cabs, has resigned from his position after just four months. The company is undergoing a restructuring process that may result in a 10% reduction in jobs. Ola Cabs has also closed its international operations in the UK, Australia, and New Zealand. Despite these changes, the company’s financials show positive growth, with a revenue of ₹2,135 crore and a positive EBITDA of ₹250 crore in FY23. You Can Read Full News By Clicking On Below Link.
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India’s economy has shown strong growth despite global challenges, according to India’s Economic Affairs Secretary Ajay Seth. The GDP growth estimate for the fiscal year has been revised upwards to 7.6%. India’s proactive stance on reform and investment has set a benchmark for emerging economies. The country’s inflation outlook is positive, and the current account balance is…
...Read MoreJohannesburg Stock Exchange wants to make it easier for smaller companies to join by reducing some listing requirements. They plan to split the main board into two segments and propose reforms such as more flexibility in issuing shares and simplifying financial reporting. The aim is to attract more investment and retain current listings. South Africa’s main stock exchange has been losing listings…
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L’Oreal’s stock rose by 6% after reporting better-than-expected sales in the first quarter. Strong demand in Europe and North America helped offset a slowdown in shopping by Chinese travelers. The company’s like-for-like sales increased by 9.4%, surpassing analysts’ expectations. Sales in North Asia, including China, were down 1.1%, less than expected. L’Oreal’s…
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Meta AI challenge for ChatGPT has a surprising twist, although it wasn't completely unexpected.
April 19, 2024 1:30 pmMeta AI, the artificial intelligence (AI) model developed by Meta, is set to appear seamlessly within WhatsApp, Instagram, Facebook, and Messenger. The latest AI model, called Llama 3, is expected to outperform competitors and will be available in two versions. One version will be used for consumer-facing AI chatbots within Meta’s apps, while the other, a larger and multimodal version, will…
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Meta has introduced two new things called Llama 3 and real-time image generator.
April 19, 2024 1:30 pmMeta has released its latest language model, Llama 3, and a real-time image generator to compete with OpenAI in the field of artificial intelligence. These models will be integrated into Meta’s virtual assistant, Meta AI. Meta CEO Mark Zuckerberg claims that Meta AI is the most intelligent AI assistant available for free use. Llama 3 comes in two variants with different parameters and has been…
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Oil prices have gone up by 3% because there were reports of Israel attacking Iran.
April 19, 2024 3:30 amOil prices surged by $3 a barrel after reports of Israeli missiles striking a site in Iran. This raised concerns about oil supply disruptions, causing benchmark contracts to rise. The price of Brent futures increased by 3% to $89.74 a barrel, while the US West Texas Intermediate contract climbed 3.1% to $84.66 per barrel. Investors are closely watching Israel’s reaction to the recent Iranian…
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Google CEO Sundar Pichai has urged employees to be more focused and respectful in their work and interactions, following protests by employees against the company’s collaboration with Israel. Pichai emphasized the importance of open discussion while maintaining a safe and productive work environment. Chris Rackow, head of security at Google, also warned employees against violating company policies…
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Starting next year, Netflix will no longer disclose its subscriber count. Instead, it will only announce major milestones achieved. The company believes that subscriber count does not accurately reflect its growth, as it now generates substantial profit and has new revenue streams. This decision may be concerning for investors, as Netflix shares have been low. However, focusing on profits rather than…
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Google has announced plans for major restructuring that could result in layoffs. The company’s CFO, Ruth Porat, sent a memo to employees explaining that the tech sector is going through a platform shift and tough decisions need to be made. The exact number of employees affected has not been confirmed, but it is expected to impact the finance division and teams in Asia-Pacific, Europe, and the…
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Authorities have made progress in the investigation of a daring gold heist that took place at the Toronto Pearson International Airport. Nine suspects have been identified, with six already arrested. The heist involved the manipulation of an airway bill and resulted in the theft of 6,600 gold bars and over $2 million in currency. The stolen gold is suspected to have been melted down and used to finance…
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Memory chip maker Micron Technology is expected to receive over $6 billion in grants from the U.S. Commerce Department to support domestic chip factory projects. The announcement, which is not yet final, could be made next week. The funding is part of President Joe Biden’s CHIPS and Science Act and aims to secure 50,000 jobs, a $100 billion investment, and community benefits. The goal is to…
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Oil prices remained largely unchanged after experiencing a significant decline due to conflicting signals. Factors such as rising stockpiles, tensions in the Middle East, and the reintroduction of US sanctions on Venezuelan crude have contributed to the uncertainty. While geopolitical tensions in the Middle East have impacted prices, weak US data and increased crude inventories have overshadowed these…
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Time magazine’s list of 100 most influential people includes business icons who have made a positive impact on society. Satya Nadella, Jensen Huang, Ajay Banga, and others are recognized for their achievements and contributions. Nadella is praised for his work in artificial intelligence, while Mark Cuban is commended for challenging the pharmaceutical industry. Jensen Huang is recognized for…
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UBS is planning to cut more jobs as part of their integration with Credit Suisse.
April 19, 2024 12:51 amUBS Group is planning to cut more jobs after its takeover of Credit Suisse. Over a hundred positions in the global investment bank will be affected, mainly in wealth management and markets units. The layoffs will happen in the coming weeks. UBS had already cut over 3,000 jobs in Switzerland as part of a cost-cutting plan after the takeover. Last year, it also cut around 70% of Credit Suisse’s…
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Apple’s iPhone shipments dropped by nearly 10% in the first quarter of the year, while the global smartphone market grew by 7.8%, according to IDC. Samsung regained the top spot, while budget brand Transsion saw an 85% increase in shipments. Apple’s struggles in China, its largest market, have affected its global results. The average selling prices for handsets are rising as consumers…
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A former Google recruiter advises job seekers to ask questions about salary during negotiations. Companies determine initial offers based on compensation data and salary ranges for specific positions. Candidates should try to understand which salary band they fall into and ask employers how their level maps to the company’s internal bands. You Can Read Full News By Clicking On Below Link.
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Millionaire founder Scott Galloway believes that storytelling is a crucial skill for success in the age of artificial intelligence (AI). He suggests that developing the ability to write well, articulate ideas, and present them with data and visuals is important, regardless of the specific type of storytelling. Galloway emphasizes the need to adapt to changing communication platforms. You Can Read…
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Zerodha co-founder Nikhil Kamath has warned investors about a scam advertisement claiming that he shares “hand-picked” stocks in a WhatsApp group. Kamath clarified that he does not have any such group and urged people to use common sense. The advertisement falsely claimed that the group would provide reliable stock picks for free. Kamath previously advised Indian entrepreneurs to focus…
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The Union finance ministry is considering stricter measures to protect people from cyber fraud. This comes after an increase in fraud cases, including the Bank of baroda World app scam. The Reserve Bank of India had previously stopped Bank of baroda from onboarding new customers on the app due to concerns. The finance ministry may propose stricter Know Your Customer procedures and improved data security…
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In just 15 minutes, the Sensex fell by 800 points, causing investors to lose 5 lakh crore.
April 15, 2024 2:01 pmIndian benchmark equity indices, Sensex and Nifty50, fell today due to losses in Asian markets. Investor sentiment was weak after Iran’s attack on Israel, raising fears of a wider conflict in the Middle East. Sensex traded 800 points lower, while Nifty50 was down 190 points. Sectors like PSU Bank, Realty, and Media saw declines of over 2%, while Auto, Financial, Metal, Pharma, and Oil &…
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