Business news
- Technology
Spotify announces to cut 17 per cent of jobs, third round of layoffs this year
New Delhi: Music streaming giant Spotify on Monday announced to eliminate about 17 per cent of its workforce across the company as it looks to become “both productive and efficient”. Spotify founder…
- Business
Rupee jumps 24 paise against US dollar
Mumbai: The rupee appreciated 24 paise to close at 83.09 against the US dollar on Wednesday as the American currency retreated from its elevated levels after the US inflation came lower than…
- Technology
NFT marketplace OpenSea lays off 50 per cent of its workforce
San Francisco: Non-fungible token (NFT) marketplace startup OpenSea, valued at $13.3 billion last year, has laid off about half of its workforce as part of “significant organisational and operating changes”. A company…
- Business
Indian markets witness resurgence as investors’ anxiety drops
Mumbai: The Indian market is resurging amid a drop in investors’ anxiety as Nifty VIX contracts generously, Vinod Nair, Head of Research at Geojit Financial Services, said on Friday. The optimism is…
- Technology
FTX’s Sam Bankman-Fried found guilty on all 7 counts
New York: Sam Bankman-Fried, co-founder and former CEO of collapsed crypto exchange FTX, has been found guilty on all seven counts related to fraud and money laundering. The US Attorney’s office at…
- Technology
Uber, Lyft to pay USD 328 million to drivers in wage-theft settlement
New York: In a significant development, Uber and Lyft on Thursday agreed to pay a combined $328 million to settle charges that the ride-hailing platforms “unlawfully withheld wages from drivers”, and failed…
- Technology
X’s value sinks below half of Musk’s USD 19 billion acquisition
San Francisco: X Corp has seen its valuation drop to $19 billion — less than half of which Elon Musk bought the social media platform for $44 billion last year. Employees at…
- Business
Indian Rupee ends flat against US dollar
Mumbai: The rupee paused its three-day downward move to settle flat at 83.25 against the US dollar on Friday as the support from positive domestic equities was negated by surging crude oil…
- Technology
‘Youngsters should work 70 hours a week’: Narayana Murthy
New Delhi: Infosys founder NR Narayana Murthy, in a conversation with Padma Shri Awardee and Chairman of Aarin Capital, T.V. Mohandas Pai on the first episode of 3one4 Capital’s podcast ‘The Record’,…
- Business
Indian Rupee falls 8 paise against US dollar
Mumbai: The rupee continued its downward trend for the third consecutive session to close 8 paise lower at 83.25 against the US dollar on Thursday, dragged down by massive selling in equity…
- Stock Market
Market mayhem: Investors’ wealth plunges Rs 7.59 lakh crore
New Delhi: Investors’ wealth eroded by Rs 7.59 lakh crore on Monday as the equity market took a heavy drubbing amid escalating tensions in the Middle East. The 30-share BSE Sensex plunged…
- Business
US oil giant Chevron seals deal to buy Hess for USD 53 billion
New Delhi: American oil giant Chevron Corporation announced on Monday that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an…
- Business
Paytm narrows loss to Rs 292 crore in Jul-Sept quarter
New Delhi: Fintech company One97 Communications, which operates under the Paytm brand, on Friday reported a narrowing of consolidated loss to Rs 291.7 crore in the second quarter ended September 30, 2023.…
- Business
US-based Invesco raises Swiggy’s valuation to USD 7.8 billion
New Delhi: In some cheers for Swiggy that is facing tough competition from Zomato, US-based investment company Invesco has increased the food delivery platform’s valuation to about $7.85 billion, the media reported…
- Business
Petrol, diesel sales fall ahead of start of festive season
New Delhi: Petrol and diesel sales fell in the first half of October ahead of the start of festival season that is expected to boost consumption, preliminary data of state-owned firms showed.…
