India

Tata Group looking at selling off Voltas home appliance business
08 Nov

Tata Group looking at selling off Voltas home appliance business

Priyanka Bhowmick0 CommentsBusiness, India,
Tata Group is considering selling Voltas Ltd's home appliance operations as the Indian company foresees difficulties growing the business in a competitive market, according to people familiar with the matter. Tata Group management is mulling the possibility of a sale and has not decided whether to include the local joint venture in a deal with Arcelic AS, the people said, asking not to be identified as the information is private.Considerations are at an early stage and the Tata group may decide to hold the asset for longer, the people said. A representative for the Tata Group declined to comment. Shares…
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Amazon employee quits job instead of working from office, loses stocks worth Rs 1.7 crore
07 Nov

Amazon employee quits job instead of working from office, loses stocks worth Rs 1.7 crore

Priyanka Bhowmick0 CommentsBusiness, India,
An Amazon employee who worked in a remote role with the tech giant for nearly four years has decided to quit after being asked to return to an office in the US. In doing so, he had to part with $200,000 (roughly Rs 1.7 crore) worth of company stock, but John Schoenhoff (name changed) has zero regrets. Speaking to Business Insider, Schoenhoff said the return mandate at the company's office required him to move cities across the country, from New York to Seattle, giving up the dream life he was living. "I enjoyed my work at Amazon," Schoenhoff told the…
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Reliance Jio launches JioMotive to turn normal car to ‘smart car’
06 Nov

Reliance Jio launches JioMotive to turn normal car to ‘smart car’

Priyanka Bhowmick0 CommentsBusiness, India,
Reliance Jio has launched the JioMotive, a device designed to transform conventional cars into smart vehicles. Priced at Rs 4,999, the device gets features like location tracking and theft alerts. It is expected to provide a connected car experience, even for cars that don't have fancy features built-in. Many modern and expensive vehicles come equipped with internet connections. The same features can be accessed using the new JioMotive OBD adapter.This new device can provide insight into various aspects of their vehicle's performance, including location, engine health and driving performance. This new device will be helpful for new car owners of…
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Elon Musk’s unveils ChatGPT rival ‘Gork’
06 Nov

Elon Musk’s unveils ChatGPT rival ‘Gork’

Priyanka Bhowmick0 CommentsBusiness, India,
xAI Corp. on Saturday announced its first large-language generative AI model called Grōk (which means 'understands something intuitively') with the goal of building a "better AGI" (artificial general intelligence). The latest LLMT was developed by a group of engineers who are part of other major generative AI models such as OpenAI, Google and DeepMind. According to Elon Musk, xAI's Grōk is 'highly curious' and 'truly curious' compared to other language models. It is also called a truth-seeking artificial intelligence. He also said that Grōk requires substantial computing resources and is designed to be a helpful tool for consumers and businesses.…
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Zomato posts ₹36 cr profit on surge in order volume
04 Nov

Zomato posts ₹36 cr profit on surge in order volume

Priyanka Bhowmick0 CommentsBusiness, India,
Shares of online food delivery platform Zomato rose nearly 10 percent on Friday after reporting a consolidated profit after tax of Rs 36 crore for the second quarter ended September 2023, driven by strong revenue growth. The company's stock rose 8.28 percent to settle at Rs 116.40 on the BSE. During the day, it zoomed 11.62 percent to touch a 52-week high of Rs 120. On the NSE, it rose 9.62 percent to Rs 117.90. In terms of traded volume, 83 lakh shares of the company were traded on BSE and 23.88 crore shares on NSE during the day. The…
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Intel collaborates with Indian companies for local manufacturing of laptops
04 Nov

Intel collaborates with Indian companies for local manufacturing of laptops

Priyanka Bhowmick0 CommentsBusiness, India,
Intel is accelerating local manufacturing in India through a new collaboration with 8 local companies, a mix of both EMS and ODMs. The semiconductor chip maker said it will equip these companies with the know-how needed to set up laptop production for both domestic and international demand. The collaboration will see the manufacturing of "complete" entry-level laptops in India, with Intel sharing its SMT line know-how, setting up a quality control process for components and benchmarking the finished product. Companies Intel is collaborating with include Bhagwati Products Limited, Dixon Technologies India Limited, Keynes Technology India Limited, Optiemus Electronics Limited, Panache…
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UCO Bank sends sweets to top 10 defaulters
03 Nov

UCO Bank sends sweets to top 10 defaulters

Priyanka Bhowmick0 CommentsBusiness, India,
Public sector lender UCO Bank has on November 2, withdrawn its earlier decision to distribute sweet packets to the bank's top 10 NPA (non-performing asset) borrowers this Diwali.The bank said: "It is hereby advised that the instructions contained in the aforesaid communication be withdrawn." Earlier in the November 1 circular UCO Bank had said: "Top management has recommended distribution of sweet packets to the top 10 NPA borrowers of each branch, in line with peer PSB like other valuable customers, where branch heads have to meet them in person, greet them on the occasion of Diwali and distribute them a…
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AJIO launches D2C-focused interactive e-com platform Ajiogram
03 Nov

AJIO launches D2C-focused interactive e-com platform Ajiogram

Priyanka Bhowmick0 CommentsBusiness, India,
Reliance Industries Ltd (RIL)-owned fashion e-tailer Ajio on Thursday launched Ajiogram, a D2C-focused interactive e-commerce platform, which aims to 'empower Indian fashion startups that are challenging the norm through their vision and innovative products.' "Ajiogram offers a unique brand-centric approach, where, unlike the status quo, brands gain heightened visibility with an immersive discovery experience to showcase their style range," Ajio said in a statement. Details about Ajiogram:1.) The platform can be easily accessed by switching stores within the Ajio app. Also, with this initiative, the Reliance-owned e-tailer aims to 'empower' the next 100 fashion startups to emerge from the country,…
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More than 97% of Rs 2,000 notes returned: RBI
02 Nov

More than 97% of Rs 2,000 notes returned: RBI

Priyanka Bhowmick0 CommentsEconomy, India,
The Reserve Bank of India (RBI) on Wednesday said that Rs 10,000 crore of Rs 2000 notes withdrawn from circulation on May 19 are yet to be returned to the banking system. As of May 19, the total value of Rs 2000 notes in circulation was Rs 3.56 lakh crore. This has come down to Rs 10,000 crore as of the close of business on October 31, 2023, RBI said in a release. "Thus, more than 97 percent of the Rs 2,000 notes in circulation have been refunded till May 19, 2023," the RBI said in a press release. It…
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Naresh Goyal diverted crores in bank loans through wife, children: ED
02 Nov

Naresh Goyal diverted crores in bank loans through wife, children: ED

Priyanka Bhowmick0 CommentsBusiness, India,
The Enforcement Directorate (ED) has attached assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies in London, Dubai and India, Central Investigation Agency officials said on Wednesday. They added that the action was taken as part of a money laundering investigation linked to an alleged bank loan fraud.ls said. The attached property has 17 residential flats, bungalows and commercial space, officials said. Located in London, Dubai and various cities in India, these properties are held in the names of different companies such as Jetair Pvt Ltd and Jet Enterprises Pvt Ltd, Goyal, his…
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