BUSINESS
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.
CNN shuts NFT project, users accuse it of crypto 'rug pull'
The shocked users accused CNN of a "rug pull", a term used when crypto developers abandon a project and run away with investors' funds. The media giant launched 'Vault by CNN' in 2021 as a marketplace for its own NFTs that would "offer collectors the opportunity to own a piece of history."
Gaming platform WinZO reaches 100 million users, taps small-town India
WinZO's user base comprises 90 per cent of the users from tier 2 to 5 cities and rural areas, 20 per cent being women. According to the platform, 25 per cent users are making their first-ever digital payment on the vernacular social platform.
UK brings forward debt-cutting plan to Oct 31
The announcement of the government's medium-term fiscal plan, together with an economic and fiscal forecast by the independent fiscal watchdog Office for Budget Responsibility (OBR), had originally been scheduled for November 23, but the government has faced huge pressure to act faster to reassure markets, reports Xinhua news agency.
Global PC shipments decline another 15% in Q3: Report
According to IDC, cooling demand and uneven supply have contributed to a year-over-year contraction of 15.0 per cent. However, shipment volumes remain well above pre-pandemic levels when PC volumes were driven mainly by commercial refreshes due to the looming end of support for Windows 7.
Inflation in India quite low, compared to leading economies: PM Modi
He appreciated the demolition work carried out along the coast by the Gujarat government. The Prime Minister also dedicated the Saurashtra Narmada Avtaran irrigation link 7, which carries Narmada water for drinking. He recalled the services of the erstwhile Jadeja dynasty to society and the country, noting how then ruler Digvijaysinh Jadeja gave shelter to Polish children during World War 2.
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