BUSINESS
Google buys AI avatar startup 'Alter' for $100 mn
According to TechCrunch, Google buys the startup for about $100 million in an effort to improve its content game and compete with TikTok. The acquisition was completed about two months ago, but neither company made a public announcement. Some of the top executives of Alter have updated their LinkedIn profiles to reveal that they have joined Google without acknowledging the acquisition, according to the report.
Elon Musk reportedly orders massive layoffs at Twitter before Nov 1
According to The New York Times, the layoffs could occur before November 1, the same day when employees are supposed to get their stock grants, which "typically represent a significant portion" of their pay. According to the report, the new Twitter boss may not have to pay these grants if he lays off employees before November 1. Although Musk is supposed to pay the employees cash in place of their stock under the merger agreement.
Drastic erosion in Nykaa share prices and shareholders' wealth
In the process, the company's market capitalisation and shareholders - promoters as well as public - wealth went down to Rs 46,655.62 crore on Friday. The company promoters - Falguni Nayar along with family members and family trusts hold 52.38 per cent stake and the balance 47.62 per cent is held by public shareholders.
Probe into IndiGo incident reveals engine number 2 stalled
A senior DGCA official said that on October 28, 2022 Indigo A320Ceo aircraft VT-IFM operating flight 6E-2131 (Delhi-Bengaluru) was involved in reject takeoff as Engine 2 Fail warning came. Loud bang was heard and the fire extinguisher bottle was discharged. Aircraft returned to the bay. It has been grounded for inspection, said the official.
'Date of SIP investment doesn't matter'
According to a study made by the company, the date of investment does not make any difference as regards returns. "The study of the last 26 years' index data reveals no meaningful difference between the average return of different dates' 10 years SIPs," WhiteOak AMC said. In the long term it hardly matters if the investor invests via Daily, Weekly, or Monthly SIP Frequency, as per the company.
Employees not forced to resign, it's part of 5% workforce reduction: BYJU's
Earlier this month, BYJU's had announced to reduce 5 per cent of its 50,000-strong workforce (about 2,500 people), which will be "rationalised across product, content, media, and technology teams in a phased manner" in a bid to consolidate its India business.
Global smartphone market sinks to lowest Q3 level since 2014
According to Counterpoint Research, the smartphone market remained under pressure given deteriorating economic conditions. Ongoing international political tensions resulting in economic uncertainty hit the smartphone market, even though it reversed its slide below the 300-million-mark last quarter thanks to a slight quarterly recovery in Apple and Samsung shipments, according to the report.
Italy's inflation reaches nearly 40-year high in October
The figure was 3 percentage points above the then-record 8.9-per cent of annual inflation in September, and it was the highest since 1983 in Italy, Xinhua news agency reported. It was also the first time that the country's inflation experienced double digits since Italy's adoption of the euro currency in 1999.
Inflation continues to fall in Spain
This is the lowest level in eight months, and 3.5 per cent below the 28-year high of 10.8 per cent registered in July, Xinhua news agency quoted the INE as saying on Friday. Since then, the inflation rate has fallen for three consecutive months, with a drop of 0.3 percentage points in August, 1.6 percentage points in September and another 1.6 percentage points in October.
Pakistani rupee continues downward trajectory
Friday's continuation comes after the US dollar closed at 221.50 rupees on Thursday, and on the last working day of the week the local currency depreciated by 0.97 rupee, or about 0.44 per cent, against the US dollar, Xinhua news agency reported citing official figures.
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