BUSINESS
Wipro posts Rs 30.5 bn as Q3 net
The company board at their meeting on Friday declared an interim dividend of Re 1 per equity share. Wipro had earned a revenue of Rs 232.3 billion (Q3FY22 Rs.203 billion) and a net profit of Rs 30.5 billion (Rs 29.6 billion). According to CEO and Managing Director Thierry Delaporte, the margins improved by 120 basis points and the employee attrition moderated for the fourth quarter in a row.
India to see investment worth $58 bn in 2023 as Chevron, Total keen: Hardeep Puri
Addressing the Voice of Global South summit, he said that the government is expecting an investment of around $58 billion in exploration and production (of oil and gas) by this year as many companies like Chevron, ExxonMobil, and TotalEnergies are interested in investing in the country's exploration and production sector.
Tesla cuts EV prices in US, Europe amid poor sales, stalled growth
The least expensive EV, the Model 3 RWD, has dropped from $46,990 to $43,990, reports Engadget. Moreover, the 5-seat Model Y Long Range's price decreased 20 per cent from $65,990 to $52,990. As a result, the latter model is now eligible for the $7,500 US Federal Tax Credit, resulting in a final price reduction of $20,500 which is more than 30 per cent.
Ethanol blending in petrol rose to 10.17% in 2022: Petroleum Minister
The Maruti Suzuki and Toyota Kirloskar Motor, TVS, Hero MotoCorp, Bajaj Auto, Honda Motorcycle, Yamaha and Suzuki motorcycles are displaying their working prototype of flex-fuel vehicles at the pavilion and these vehicles can take a range of ethanol blends varying from 20-85 per cent.
Torrent stalls Reliance Capital Resolution, COC approves 90 days extension to complete resolution process
NCLT Mumbai will resume hearing in the Reliance Capital resolution matter on Monday. In the hearing on Thursday, January 12, senior counsel Kapil Sibal appearing for RCAP's COC informed the court that the bid submitted by Torrent is non-compliant.
Zomato CEO Deepinder bought swanky sports cars after raising funds: Ashneer
"I am passionate about cars and it's not just me. Jaise Zomato ka founder hain Deepinder, sabse zyada shauk usko tha. Jab bhi uska round raise hota tha uski nai sports car aa jati thi toh hum bade chidte the (Deepinder Goyal was obsessed with luxury cars and would buy a new sports car after every fundraise and we used to get upset)," he said.
Layoffs begin at Ola, 200 employees to be impacted
The layoffs, which were first announced in September last year, happened across the teams. The company told IANS that it is "centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions".
Tim Cook takes a hefty $35 mn pay cut amid rough global market
According to a new regulatory filing in the US Securities Exchange Commission (SEC), Cook's pay will drop from $84 million in 2022 to $49 million in 2023, at his own recommendation, reports The Verge. The pay change is entirely from an adjustment in his equity value.
Iconic global sandwich chain Subway heading for sale?
The Connecticut-headquartered quick-service food chain, known for its signature submarine (sub) sandwiches and wraps, has retained advisers to explore a sale, the Wall Street Journal reported, citing people familiar with the developments. Quoting people as saying that the process may attract potential corporate buyers and private-equity firms, the paper said that the process is still in its early stages and there is a possibility that the sale may not go ahead at all.
India hiked ethanol blending from 1.5% in 2013-14 to 10% in July 2022: Hardeep Puri
Addressing the CII Bio-Energy summit, Hardeep Puri said that setting up 2G refineries to make ethanol from parali (Panipat refinery) and bamboo (Numaligarh refinery) with the twin objectives of reducing pollution along with achieving energy security goals is another milestone in this direction.
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