Reserve Bank of India (RBI) has issued a directive stating that peer-to-peer lending platforms cannot offer default loss guarantees to investors. This move is expected to impact P2P platforms that relied on affiliates to source customers. The RBI’s action aims to improve governance in digital lending but may increase customer acquisition costs for P2P platforms. The regulator’s disallowance…
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Former Binance CEO Changpeng Zhao has been sentenced to four months in prison for allowing money laundering on the cryptocurrency exchange. Zhao pleaded guilty to failing to take anti-money laundering measures and stepped down as Binance agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao ignored transactions supporting child sex abuse, illegal drugs, and terrorism…
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Amazon reported a tripled profit in the first quarter of 2024, driven by its cloud, ads, and retail businesses. The company’s online store sales grew by 7% despite competition from rivals. Amazon’s AWS cloud computing division is expected to bring in $100 billion this year. The company’s ad business also gained momentum, with ad sales increasing by 24%. Amazon plans to invest in…
...Read MoreIn April, Number of electric two-wheelers sold was only half of what it was in the previous month.
May 1, 2024 12:05 pmElectric two-wheeler sales dropped by almost 50% in April compared to the previous month. This decline was due to a combination of seasonal factors and changes in subsidies for the industry. Ola Electric, the market leader, saw its sales decrease from a record high in March. Other companies like Bajaj and TVS Motors also experienced a slump in sales. The shift in subsidies and uncertainty regarding…
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Canarys is growing its business worldwide by making a smart purchase in North America.
May 1, 2024 12:04 pmCanarys Automation, a digital transformation company, plans to acquire a software services and consulting enterprise in North America to expand globally. The acquisition will strengthen Canarys’ presence in the North American market and allow it to better serve Fortune 100 companies. The deal is subject to due diligence and final agreements. canarys will finance the acquisition through a combination…
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China's company that makes LED, AET, plans to invest Rs 200 crore in India.
May 1, 2024 12:04 pmChinese LED screen maker AET Displays, a part of Guangda Group, plans to invest Rs 200 crore in India over the next 12-18 months. The investment will be used to expand manufacturing, strengthen the local supply chain, and improve after-sales service. AET currently sources up to 55% of its components from Indian suppliers and aims to increase local content to reach the second level of manufacturing…
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Delhi Capitals captain Rishabh Pant admitted that his team fell short by 40-50 runs in their match against Kolkata Knight Riders. KKR won the game by 7 wickets, thanks to Varun Chakaravarthy’s three wickets and Phil Salt’s half-century. Pant acknowledged that their batting performance was not up to the mark and they could have set a target of 180-210. KKR is now in second place with 12…
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Netflix co-founder reed hastings discussed his approach to taking risks in a recent podcast. He follows the principle of “recoverable risk,” meaning he takes risks that can be fixed if they don’t work out. This approach allows him to get more done and move fast. Hastings borrowed this philosophy from amazon founder Jeff Bezos, who sees risks as either “one-way doors”…
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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…
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Tesla CEO Elon Musk has fired top executives in a recent round of job cuts.
April 30, 2024 12:59 pmTesla CEO Elon Musk has fired senior management and laid off hundreds of employees due to declining sales. Musk visited China to discuss the rollout of Full Self-Driving software. Rebecca Tinucci and Daniel Ho were among those sacked, along with roughly 500 employees in the Supercharger group. Musk emphasized the need for cost reduction in an email to executives. The public policy team, led by Rohan…
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Chennai Super Kings will face Punjab Kings in an Indian Premier League match. Both teams have similar points and want to move up in the rankings. Punjab Kings recently achieved the highest chase in T20 cricket history. The pitch in Chennai favors bowlers, and Chennai Super Kings performed well in their previous match. The key players to watch are Ruturaj Gaikwad, Daryl Mitchell, and Shivam Dube. Punjab…
...Read MoreThe debate over the wicketkeeping position in Team India’s T20 World Cup squad has focused on Sanju Samson and KL Rahul. However, a new report suggests that Rahul is no longer in contention for the backup spot. The selectors are considering two fresh options alongside Samson. jitesh sharma and Jurel were initially strong contenders, but their poor form in the IPL has put them out of the reckoning…
...Read MoreGoogle has laid off employees in its Python section as part of cost-cutting measures. The company plans to hire cheaper labor outside the United States and set up a new team in Munich, Germany. Some employees expressed disappointment and pain at being laid off and replaced by remote workers. The US Python team, which managed Google’s Python ecosystem, was reportedly small. This comes after previous…
...Read MoreSrinivas Pallia, who works at Wipro, is one of the highest-paid CEOs in his industry.
April 30, 2024 12:55 pmWipro’s new CEO, Srinivas Pallia, will receive up to $6 million in annual pay. This comes after the company approved a payment of $4.33 million as compensation to former CEO Thierry Delaporte. Pallia’s salary includes a base salary of $1.75 million to $3 million and a variable pay of $1.75 million to $3 million. He will also receive stock compensation totaling $4 million. Delaporte, who…
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Derrick White had a great game and helped the Celtics win, giving them a 3-1 lead over the Heat.
April 30, 2024 12:54 pmDerrick White scored 38 points to help the Boston Celtics win against the Miami Heat. Jayson Tatum had 20 points and 11 rebounds, while Jaylen Brown scored 17 points. Bam Adebayo led the Heat with 25 points and 17 rebounds. The Celtics now have a 3-1 lead in the series. Celtics center Kristaps Porzingis got injured and will undergo tests. Miami tried to come back in the fourth quarter but fell short…
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Harshit Rana controlled himself from blowing a kiss goodbye.
April 30, 2024 12:50 pmKolkata Knight Riders fast bowler Harshit Rana impressed in the IPL with 11 wickets in eight matches. However, he received a heavy fine for giving a flying-kiss send-off to an opponent earlier in the season. In a recent match, Rana almost repeated the act but stopped himself, remembering the punishment. Sunil Gavaskar criticized Rana’s behavior, saying there is no need for such antics in cricket…
...Read MoreShah Rukh Khan, co-owner of the Kolkata Knight Riders, supports Rinku Singh’s inclusion in the Indian cricket team for the T20 World Cup. Rinku impressed last season with his batting skills and has a good strike rate in T20 matches. Shah Rukh hopes that Rinku and other deserving young players will make it to the World Cup squad. Despite facing obstacles, Rinku has worked hard to pursue his passion…
...Read MoreKolkata Knight Riders captain Shreyas Iyer revealed that Sunil Narine, a key player for the team, does not attend team meetings and jokingly suggested that he should continue to do so. Narine has been performing well with both bat and ball this season, forming a strong opening partnership with Phil Salt. Varun Chakravarthy also played a crucial role in KKR’s recent win, taking three wickets…
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Farah Khan’s debut film “Main Hoon Na” celebrates its 20th anniversary. The film’s characters, Ram and Lakshman, are named after characters in the movie “Gol Maal.” The action scenes in “Main Hoon Na” combine Bollywood masala with Hollywood-style stunts, creating a new language of action in Hindi cinema. The film’s soundtrack features a mix of…
...Read MoreAlia Bhatt and ranbir kapoor went to watch a football match together. They cheered for Ranbir’s team, Mumbai City FC, and the paparazzi took pictures of them. Alia wore a casual outfit with a striped shirt, tank top, and shorts. She accessorized with sneakers, earrings, and a cap supporting the team. Ranbir wore a white t-shirt, grey joggers, and glasses. mumbai city fc won the match, and Ranbir…
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