BUSINESS
Overall job cuts no more than 5% to avoid role duplication: Byju Raveendran
In a letter to employees seen by IANS, Raveendran said that bringing those who are parting ways "back by putting our company on a sustainable growth path will now be the number 1 priority for me". "I want to emphasise that the overall job cuts are not more than five per cent of our total strength," he said.
'Indian government's gross tax revenue expected to cross budget target'
"The centre's gross tax collections have shown healthy growth so far and is expected to surpass the full year budgeted target despite the custom and excise duty cuts," the ratings agency's Chief Economist Rajani Sinha said. While the scenario is optimistic on the tax collections front, the non-tax revenue could see some shortfall primarily due to lower dividend transfer from the RBI in the current fiscal, she added.
Indian startups make deep hiring cuts, permanent employee hiring down 61%
The hiring for chief experience officer (CXO) has decreased by a massive 1,300 per cent since October 2021, according to the annual insights report by RazorpayX Payroll, the business banking platform of Razorpay. The changing dynamics of the startup ecosystem has resulted in massive shifts in hiring patterns in the last 12 months.
Bharti Airtel posts Rs 2,978.9 crore net for Q2
According to Bharti Airtel, the company had posted a consolidated revenue of Rs 34,728.7 crore for Q2FY23 (against Rs 28,435.2 crore in Q2FY22) and a net profit of Rs 2,978.9 crore (Rs 1,998.1 crore in Q2FY22). The company said its average revenue per user for the quarter under review stood at Rs 190 as compared to Rs 153 in Q2'22 owing to feature phone to smartphone upgradation and data monetisation.
A new feather in AdaniConneX's cap: Chennai 1 Data Centre is now Live!
With an integrated terrestrial fibre and global submarine cable connectivity, Chennai has emerged as a major data centre hub in the APAC region. AdaniConneX's 'Chennai 1' data centre with a total capacity of 33MW (IT load) is strategically positioned to support rising demand in the region.
Rupee touches 83.01 against dollar amid key rate hike expectations by US Federal Reserve
The rupee opened at 82.57 but touched a high of 83.01 during intraday trade. It eventually closed at 82.74. There are expectations of another rate hike by the US Federal Reserve when it meets on Wednesday (November 2). Analysts are hoping that US Federal Reserve chairman Jerome Powell may be less hawkish while reviewing key rates.
Worker exodus, Covid lockdown hit Apple supply chain in China
The factory in the capital of Henan province employs around 300,000 workers. "Neither Foxconn, also known as Hon Hai Technology Group, nor the Zhengzhou government has disclosed how many workers are leaving or are in quarantine," the report mentioned.
Most Indian firms still face key challenges towards net-zero goals
While 24 per cent cite the complexity of the required transformation, 25 per cent point to the lack of talent with expertise implementing net-zero initiatives, and 23 per cent specify limited resources to support the net-zero initiatives, according to the report by Forrester Consulting on behalf of Amazon and non-profit The Climate Pledge.
RBI's measures controlled inflation: Economists
The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation within four per cent + or - two per cent. The RBI may also sound out the Central government as to the course of inflation as well as the reasons as to why it may be at the elevated levels. In India, the retail inflation rose to 7.41 per cent in September.
C-295 aircraft facility big step to become truly 'Aatmanirbhar': N. Chandrasekaran
Speaking on the occasion, TATA Sons Chairman N. Chandrasekaran said, "With the setting up of the Final Assembly Line (FAL) in Vadodara, the Tata Group will now be able to take aluminum ingots at one end of the value stream and turn it into am Airbus C295 aircraft for the Indian Air Force. This is a historic moment not only for the Tata Group, but for the entire country, as it embraces the Prime Minister's vision of being truly 'Aatmanirbhar'."
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