Business

Microsoft slashes 1,000 jobs, mostly in sales, customer services: Report

San Francisco: Microsoft has reportedly reduced its workforce further by 1,000 over the past week, mostly in sales and customer services teams. According to a report in Insider, citing sources, the new…
Netflix adds 5.9 mn paid subscribers in Q2, revenue at $8.2 bn

New Delhi: Streaming giant Netflix added 5.9 million subscribers globally in the second quarter (Q2), with the US and Canada making up 1.17 million new members in the April-June period. In May,…

Tesla logs $2.7 bn in net income, cybertruck on its way: Musk

San Francisco: Elon Musk-run Tesla has reported a revenue of $25 billion with a net income of $2.7 billion (up 20 per cent year-on-year) in the second quarter (Q2) this year. The…
Networking giant Cisco lays off employees across business units

New Delhi: Global networking giant Cisco has begun a round of layoffs affecting employees across business units, which are part of an earlier “rebalancing effort”. According to verified Cisco employees on anonymous…
Thousands of authors urge AI companies to stop stealing books

New York: More than 8,000 famous writers, including Margaret Atwood, Nora Roberts, and Michael Chabon, have, in an open letter, called out to CEOs of OpenAI, Alphabet, Meta, Stability AI, and IBM…
GST officials search UpGrad offices, edtech unicorn says ‘routine survey’

New Delhi: Goods and Services Tax (GST) Department officials made searches at Ronnie Screwvala-founded edtech unicorn upGrad offices on Wednesday. The company said that it was a “routine survey”. In a statement…
Quick commerce platform Dunzo won’t pay employees till early Sept

New Delhi: Homegrown quick-grocery delivery provider Dunzo has said it will not be able to pay employees salaries until early September, a further delay from the earlier deadline of July 20. The…

Microsoft 365 AI Copilot to be available at $30 per user for businesses

New Delhi: Microsoft has announced the pricing for its AI-infused Copilot for Microsoft 365, which will cost $30 per user per month for business accounts. “Microsoft 365 Copilot will be available for…
Cognizant appoints 6 women in top leadership roles, including 2 Indian executives

New Delhi: IT major Cognizant on Wednesday announced the appointment of six women leaders in the role of Senior Vice President (SVP), including two Indian executives. “These announcements are something we should…
IT spending in India to hit $112 bn, CIOs to invest more in productivity

New Delhi: The IT spending in India is projected to reach $112.2 billion this year, slightly higher than last quarter’s update, a report showed on Wednesday. Despite being cautious, Indian chief information…
Tata to invest 4 bn to build EV battery plant in UK

Mumbai: Tata Group on Wednesday announced an investment of 4 billion pounds (about Rs 42,500 crore) in setting up a flagship factory to make batteries for Jaguar Land Rover as well as…
Apple, Amazon fined $218 mn in Spain for restricting competition

London: Amazon and Apple have been fined a total of $218 million in Spain for allegedly restricting competition around the reselling and marketing of Apple products on the e-commerce giant’s e-commerce marketplace…
Telegram raises $210 mn via bond sales amid funding crunch

New Delhi: Encrypted messaging platform Telegram has raised $210 million from several investors via bond sales. The investors include its founder and CEO, Pavel Durov. The fund raise comes as Telegram is…
Twitter rival Bluesky faces backlash for allowing usernames with racial slurs

San Francisco: Twitter co-founder Jack Dorsey-backed Bluesky has come under fire for removing numerous racist, ableist, and transphobic slurs from its list of flagged words in a controversial update last week. According…
India’s entertainment & media industry to reach $73.6 bn by 2027: Report

New Delhi: Driven by a surge in OTT platforms, India’s entertainment and media industry is expected to reach Rs 6,828,944 crore ($73.6 billion) by 2027, growing at a 9.48 per cnet CAGR,…