The layoffs will mainly be in the company's product and engineering functions.
A high-level three-member committee is formed to grow awareness about fraudulent job offers.
The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam, where the big names of the car industry - Hyundai Motor India, Renault-Nissan India, Daimler India Commercial Vehicles, Apollo Tyres, and Royal Enfield - are based.
Passenger vehicle dispatches from factories to dealers declined 13 per cent to the lowest level in five years in December last year as the industry continued to face production issues due to semiconductor shortage, auto industry body SIAM said on Friday. Passenger vehicle dispatches last month stood at 2,19,421 units compared to 2,52,998 units in December 2020. While acknowledging that the chip shortage situation is not expected to dramatically change in the short term, the industry body expressed hope that things will improve soon.
While there is a shortage of testing kits, manpower and capacities, India does not have other scalable testing options.
The Centre on Tuesday said it will not seek disclosure of flash sales from e-commerce players to regulate the fraudulent sale of goods and services but will take appropriate action as per the law on consumer complaints. Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the e-tailers need not be "anxious" about the draft rules. Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer -- are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.
Mastercard is keen on being known not as a payments player but a technology company.
'What exists instead is a clear gap between skilled people and the work at hand.' 'Employers on most occasions find it difficult to find a match between the two,' Adi Godrej tells Viveat Susan Pinto and Niraj Bhatt.
Both manufacturers have sought funds in excess of Rs 150 crore under the department of biotechnology's Mission Covid Suraksha scheme. Announced last November, the scheme has an outlay of Rs 900 crore to help develop Covid vaccines, from the clinical development stage to setting up production sites.
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
Are we running a cricket match using football rules, asks Ajit Balakrishnan.
It is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
Top gainers in the Sensex pack included Bharti Airtel, SBI, Tata Steel, Vedanta, NTPC, HDFC Bank, HCL Tech, ONGC, ICICI Bank and L&T, which rose up to 2.97 per cent.
The Taiwan-headquartered manufacturer has said it would invest around $5 billion in Maharashtra
'It is not clear how the NDA government -- including Defence Minister Nirmala Sitharaman and Finance Minister Arun Jaitley, backed by senior IAF officials -- claimed that the 36 Rafale contract with Dassault in 2016 cost the IAF 20% less than Dassault's 126 Rafale offer,' notes Ajai Shukla in the first of a three-part series.
Govt says there is enough spectrum, telcos differ
Reliance has announced that it will roll out its e-commerce platform to as many as 1.2 million retailers and store owners in Gujarat. This is part of a nationwide roll-out that will come later this yea, reports Viveat Susan Pinto.
On the price front, Indian manufacturing companies continued to face higher input costs during August.
US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
'As a course mate who has followed closely this star on the Bombay Sappers firmament, my heart swells with pride to see his extraordinary brilliance and focus; his commitment and his dedication; his hard work; and his technical as well as tactical knowledge,' says Colonel K Thammayya Udupa (retd) of his batchmate General Manoj Pande who will take over as chief of the army staff on May 1.
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India plans IPO rule changes to lure homegrown start-ups.
Microsoft also took a charge of $940 million related to job cuts announced this month and last year.
The auto ancillary industry - one of the worst hit due to the labour exodus - will need at least three months to get its factories up and running.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
NBFCs are mainly dependent on funding their operation from their own cash flows.
International brands such as Daikin, Hitachi and Samsung, which were largely present in the premium products range, are getting aggressive on expanding their mid-range portfolios to penetrate into smaller cities and towns. While competition isn't hurting Voltas just yet, which has managed to retain its market share at 24.4 per cent as of September 30 (Q2), the main question is whether the company can defend its market share without compromising on profitability.
Used smartphones are gaining popularity in the hinterland, the main market for JioPhone. Share of JioPhone in the feature phone market had shrunk from 47% in Q2 of 2018 to 28% a year after.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Telecom operators say the reason for the low increase in ARPU in the two metros could be linked to the massive reverse migration of labour.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
'As long as people are eating we will be there,' Rebel Foods CEO Jaydeep Barman tells Viveat Susan Pinto and Niraj Bhatt.
Cyclone Nisarga, the first such storm to threaten Mumbai in over a century, is heading to the Maharashtra and Gujarat coasts and is expected to make landfall at Alibaug, about 100 km from Mumbai, on Wednesday afternoon. Mumbai's civic body Brihanmumbai Municipal Corporation has put out a list of dos and don'ts for citizens.
Before migrating into the theatre command concept, it would be worthwhile to study the shortfalls experienced by the Tri Services Command in the Andaman and Nicobar islands and make good the deficiencies, suggests Commodore Venugopal Menon (retd).
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
'The problem is not the performance under Vishal Sikka, but the quality of Infy's board of directors, argues Debashis Basu.
Police said the border has not been sealed but they are checking all vehicles entering the national capital.
Companies such as Cadila Healthcare, Lupin, and Natco, which sell generic versions of flu medication in the US market, are likely to benefit.
