BUSINESS
ED summons India Ahead MD, others in Delhi excise policy scam case
Gautam Mootha and Andhra Prabha will be quizzed by the elite anti-money laundering agency, added the sources.As of now three persons have been arrested in the case -- two by the Central Bureau of Investigation and one by the ED. On September 27, the CBI had arrested Vijay Nair in the excise scam. A day later, the ED arrested Sameer Mahendru, one of the prime accused and a Jor Bagh-based businessman.
LimeChat develops conversational marketing ecosystem to help D2C brands improve retention
LimeChat, the world's first human-level chatbot startup that enables D2C brands to leverage conversational marketing, is developing a conversational marketing ecosystem to help D2C Brands improve retention.
Spice Money joins centre-backed ONDC to democratise e-commerce in India
The soft launch is said to be invite-only before it moves out of the beta phase and is made available to the public. It will facilitate Spice Money to help its Adhikaris access small merchant stores without being restricted to only their localities.
Govt gets Rs 307 crore as dividend from Oil India Ltd
This was tweeted by the Department of Investment and Public Asset Management (DIPAM). Last week, the government had received Rs 81 crore and Rs 31 crore from IRCTC and Bhartiya Rail Bijlee Co Ltd, respectively, as dividend tranches. It had also received Rs 604 crore, Rs 450 crore and Rs 37 crore from SAIL, HUDCO and IREL, respectively, as dividend tranches last week.
Shares of Asian computer chipmaker slump after US curbs on China
The US said it will ban American firms from selling certain chips used for supercomputers and artificial intelligence to Chinese firms, BBC reported. The rules, which were announced on October 7, also target sales from non-US companies that use American equipment. Technology firms are also seeing demand fall as the global economy slows.
US, global economy facing 'very, very serious' mix of headwinds: JP Morgan chief
Dimon pointed to the effects of runaway inflation, sharp interest rate rises and Russia's war in Ukraine, as factors that informed his thinking, The Guardian reported. But he added that the US is "actually still doing well" and consumers were likely to be in better shape compared with the global financial crisis in 2008. Dimon said that the US Federal Reserve "waited too long and did too little" as inflation jumped to a 40-year high over the past 18 months.
Rishabh Sharma to head Twitter Next Asia-Pacific's Core Business
Prior to the new role, Sharma was heading �Twitter Next in India' since 2017. "The 'Core Business' hub led by Sharma plays an important role in working with global brands holistically in the region, with a keen focus on applying ideas and strategy while always respecting the cultural nuances of each country," said Daniela Bogoricin, Director of Twitter Next APAC.
Fears of fuel shortage grow in France as strikes at refineries continue
The strikes at TotalEnergies and ExxonMobil refineries will extend to Tuesday, the General Confederation of Labour (CGT) said. According to the Ministry for Energy Transition, 29.4 per cent of service stations in the country were experiencing difficulties with at least one product on Monday, compared to 19 per cent on October 7, reports Xinhua news agency.
VC firm BlackSoil raises Rs 250 cr across debt products
Some of BlackSoil's current investments are in unicorns and other platforms like Upstox, Slice, MobiKwik, Udaan, Infra.Market, Zetwerk, OYO Rooms, Spinny, Purplle, Curefoods and Blu-Smart, among others. There are over 20 family offices/HNIs who have invested in Blacksoil's various debt products. "The onward lending we will be doing with these funds are via products with amortising and fixed pay-out structures which significantly reduce business and time risk, and safeguard the investment," said Ankur Bansal, Director and Co-Founder, BlackSoil.
Amazon to invest over 1 billion euros to electrify delivery fleet in Europe
The company said it is using thousands of zero-emission vehicles across its European operations, and this investment will add thousands more, accelerating Amazon's progress toward becoming net-zero carbon by 2040 -- 10 years ahead of the Paris Agreement.
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