BUSINESS
Ford India to sell its Gujarat plant for Rs 725.7 cr to Tatas
In a regulatory filing on Sunday, Tata Motors - the parent of Tata Passenger Electric - said the Ford India's plant in Sanand in Gujarat includes (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated and (iii) transfer of all eligible employees of Ford India's vehicle manufacturing operations. The Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric.
Recent struggles are sign that Netflix is becoming a more traditional media company
Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for the streaming giant. Rather, it's a sign that Netflix is becoming a more traditional media company, CNN reported. Netflix was originally valued as a Big Tech company, part of the Wall Street acronym, "FAANG", which stood for Facebook, Apple, Amazon, Netflix, and Google.
AWS, Intel empower govtech and edtech startups in India
The exclusive meet up for founders and chief experience officers (CXOs) gave them a platform to network, learn from fellow entrepreneurs, find new business and referrals and accelerate learning."This is a perfect opportunity for you all to share your challenges and expectations, and for us to get feedback to serve you better. We will provide you the technology support and credits if needed, but also go the extra mile to help you get all the support you need to succeed in this industry," said Rahul Sharma, President, Public Sector, AWS India and South Asia, AISPL.
Rs 1.62 lakh cr likely to be monetised in current FY 2022-23 under NMP: Finance Ministry
Key transactions include: Highway Toll Operate Transfer (TOT) based PPP Concessions, NHAI's Infrastructure Investment Trust (InvIT), PowerGrid InvIT, annual accruals from mineral and coal blocks auctioned in FY21-22, private investment in redevelopment of railway colonies, receipts from six airports leased on PPP mode and private investment from port terminals bid out on PPP mode, said Pankaj Chaudhary, Minister of State, Ministry of Finance said in a written reply in the Lower House.
Reliance builds technology & innovation portfolio for Green Energy foray through partnerships, acquisitions, R&D
During FY22, Reliance completed acquisitions and investments of over Rs 5,500 crore to build capabilities in New Energy. Reliance's partnerships includes companies like Ambri in the US, Faradion in the UK and The Netherlands-based Lithium Werks in the energy storage space.
Hyundai Motor sells 1 mn 'green' cars, shows data
The automaking giant said its two carmaking affiliates -- Hyundai Motor Co. and Kia Corp. -- sold a combined 29,484 environmentally-friendly vehicles in July alone, raising their cumulative sales to 1.024 million. The milestone came after Hyundai Motor Group entered the eco-friendly vehicle market in July 2009 by launching the hybrid model of its Avante subcompact, reports Yonhap news agency.
Investors bracing for another stretch of volatility in US stock market
The third-quarter bottoms-up earnings-per-share estimate, an aggregate of consensus projections for individual companies in the S&P 500, fell by 2.5 per cent in July, according to FactSet. That is the biggest reduction during the first month of a quarter in more than two years and a larger decline than the historic average, Wall Street Journal reported.
Tesla robotaxi will be combination of Uber, Airbnb: Musk
During the company's annual shareholders meeting, Musk stated that the system is not being designed with a launch city in mind, the way competitors have approached the concept, reports Fox Business. When the electric vehicle company's Full Self-Driving (FSD) is fully operational, Musk said Tesla owners will have the choice of using it themselves or adding their cars to the robotaxi fleet to earn money when they do not need them.
Fall in consumer, education demand hampers tablet growth
Inflation and fears of a recession are at the forefront of consumers' minds, and spending on tablets has taken a backseat as the need for pandemic-era levels of use has fallen, according to a Canal's report. "Unlike notebooks, tablets are not vital for business productivity, so commercial demand has not helped to offset the drop in consumer purchases," said analyst Himani Mukka.
Aviation Minister flags off Akasa maiden flight
Earlier, on July 22, India's newest airline Akasa Air on Friday opened ticket bookings for its first commercial flights with an initial network in Ahmedabad, Bengaluru, Mumbai, and Kochi. Initially, Akasa Air, whose airline code is QP, will launch its operations by offering 28 weekly flights between Mumbai and Ahmedabad starting August 7, 2022.
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