Microsoft will lay off 10,000 workers, about five per cent of its total workforce, its CEO Satya Nadella announced on Wednesday, terming it a hard choice that the tech giant had to make to remain a "consequential company" amid global economic uncertainties. Microsoft is the latest company after Facebook and Amazon to cut jobs as the bloodbath continues in the technology sector in 2023. Describing the current times as "significant change", Indian-origin Nadella said customers who accelerated their digital spend during the Covid-19 pandemic, are now optimising their digital spend to do more with less.
Microsoft chairman and CEO Satya Nadella on Tuesday said there is a tremendous momentum in cloud adoption, as he termed cloud a "big game changer". Nadella, who is currently in India, addressed Microsoft Future Ready Leadership Summit in Mumbai on Tuesday. He is also scheduled to visit Delhi and Bengaluru this week, and will be meeting key customers, startups, developers, educators and students during his India visit.
The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. "Like previous year, this year too CAIT has given a call of 'boycott Chinese goods' and it is certain that China is going to suffer a business loss of about Rs 50,000 crore in terms of stoppage of import of chinese goods by Indian traders," CAIT stated.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
Kajol does the best she can with the role though it is a bit limiting. Vishal Jethwa gives the movie-crazy Venky a bright charm, observes Deepa Gahlot.
A large part of the work that CEO Sumit Gupta does is focused on educating users and the larger community about investing in cryptocurrencies, reports Neha Alawadhi.
US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in the country during 2018-20, sources said. Sources aware of the firm's public account filings said entities of Amazon - including Amazon Retail, Amazon Seller Services, Amazon Transportation Services, Amazon Wholesale, and Amazon Internet Services - paid Rs 3,420 crore in India during 2018-19 and Rs 5,126 crore during 2019-20 towards legal fees. Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India (CCI).
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
The digital platform Zee5 completed two years, and threw an anniversary party for its stars.
Traders' body CAIT on Wednesday accused e-commerce major Amazon of indulging in serious contraventions of FDI policy and Foreign Exchange Management Act. The body also blamed the online firm for not seeking the government's approval for conducting multi-brand retail activities in India.
10 H-A-W-T pix of the first Indian Mr World...
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
'Life was a canvas and Pradeep Sarkar painted with full intensity -- be it an ad film or a feature film.'
Find out more about interesting films and Web series coming up on OTT this month.
Pranaam leaves you even more disappointed, writes Karan Sanjay Shah.
The diamantaire's counsel said there is a vigilance manual circular that the consortium can lodge only one FIR. Each consortium member cannot lodge separate FIRs, he said.
The accused -- Bhakti Mehere, Hema Ahuja and Ankita Khandelwal -- were arrested for allegedly abetting the suicide of doctor Payal Tadvi by tormenting her with casteist slurs.
Naxalbari has some really good and unexpected twists and turns, observes Moumita Bhattacharjee.
Tadvi's roommate and friend Snehal in her statement to the police, which is part of the chargesheet, has said Ahuja, Meher and Khandelwal used to harass and ill-treat them in front of other juniors, hospital staff and patients.
Promising new seasons of beloved shows, provocative stories and action packed dramas, Sukanya Verma says it's all there on OTT this week.
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
Infosys chairman and Aadhaar architect Nandan Nilekani will join a panel set up by the central government, along with eight other members, to advise the government on designing and accelerating adoption of Open Network for Digital Commerce (ONDC), aimed at curbing digital monopolies. The larger idea is to give 'free and fair' choice to consumers to buy products on an online platform, a senior government official said.
The unemployment rate shot up to a record 10.9 per cent in the week that ended on December 18, points out Mahesh Vyas.
Rediff readers tell us how they are celebrating Ganeshotsav this year.
When director Goldie Behl turned 45 on January 24, his gorgeous wife Sonali Bendre threw a birthday bash for him.
These talented youngsters prove that nothing is impossible.
According to the results announced on Thursday, 25 Samajwadi Party candidates were defeated by less than 5,000 votes while a similar fate awaited three nominees of the Rashtriya Lok Dal.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
After the judge pronounced the order, the three accused broke down and started sobbing in the court.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
The suicide note, a crucial piece of evidence which was missing till now, mentions that three senior women doctors arrested in the case, used to hurl casteist abuses and intimidate her.
Many offer personalised ornaments with 3D printed images and engraved names to lure customers in a scenario of high gold prices.
Two-year-old Chinni's life could have been saved if had she been rushed to a private hospital with actor Hema Malini, claims the girl's father who is himself recovering at a local hospital in Jaipur after Thursday night's deadly accident.
The trailer doesn't give away too much of the story and keeps the mystery alive, feels Namrata Thakker.
CAIT has attributed its displeasure to the economic downturn, and indifferent attitude of ministers/officials towards domestic trade.
There was positive news from across the country especially from the South.
In what is amongst the first focused fund in the space, India Media Entertainment Fund (IMEF) is raising Rs 500 crore, which will provide both equity as well as instruments like non-convertible debentures (NCD) to companies in the content, distribution platform and services areas. The private equity fund has appointed a high-profile advisory body which includes ad guru Prahlad Kakkar, managing director of Red Chillies Entertainment and cricket team KKR Sports, actress and entrepreneur Raadhika Sarathkumar, who has starred in Malayalam, Hindi and Kannada films and runs Radaan Mediaworks. It also includes Ramnath Pradeep, former chairman and managing director of Corporation Bank, and Rajesh Gupta, senior partner of law firm SNG Partners.
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