BUSINESS
EU's largest economy, Germany is likely to slip into recession
Investment bank and financial services major, UBS in its report, said that Germany's economy is already suffering as its manufacturing industry grapples with supply chains disrupted by the pandemic and the war in Ukraine. "If its struggling economy is pulled down further by a full-blown energy shortage crisis, it could shake other eurozone countries too, including Italy, France, Poland, and Spain," it read.
Indian women seeking more entrepreneurship opportunities than men: LinkedIn
The data, published in the World Economic Forum's 2022 Global Gender Gap Report, showed that the share of female founders grew by 2.68 times compared to 1.79 times among men between 2016 to 2021. The growth rate of female entrepreneurship showed to be the highest during the pandemic -- in 2020 and 2021. Besides being underrepresented in leadership roles, the data also revealed that women are also not being promoted internally to leadership in companies at the same rate as men.
Indian tech sector hired 2L Americans, helped US generate $103 billion in 2021
The direct impact of the Indian tech industry has helped the US economy generate a total of $396 billion in sales to date, supporting 1.6 million jobs and contributing over $198 billion to the American economy -- larger than the combined economies of 20 US states in 2021, according to report by Nassom and IHS Markit (now part of S&P global).
Inflation in India to be about 5% by March 23
In a research report, the SBI also said the 7.01 per cent consumer price index (CPI) inflation announced by the Indian government on Tuesday for June 2022 confirms the fact that the peak point has passed. According to the SBI report, CPI inflation attributable to supply side factors started moving up after September'21 while demand led CPI remained more or less constant.
Tesla fires 229 employees from Autopilot team, shuts office
According to a regulatory filing in California state in the US and seen by TechCrunch, Tesla had laid-off workers from its San Mateo office that employed 276 workers. The remaining 47 employees may be sent to work in Tesla's Buffalo Autopilot office, according to the report. Tesla started laying off salaried employees after Musk's announcement, which would result in reducing Tesla's total headcount by roughly 3.5 percent.
Retail inflation eases slightly to 7.01% in June
India's retail price inflation marginally eased and stood at 7.01 per cent at the end of June, as compared to that of May, the government said on Tuesday. As per the data released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation, the retail price inflation at the end of June was 7.01 per cent (rural 7.09 per cent, urban 6.92 per cent), as compared to 7.04 per cent in May (rural 7.08 per cent, urban 7.08 per cent).
India's industrial production grew 19.6% in May
India's industrial production grew by 19.6 per cent in May 2022, the National Statistical Office said. According to the Index of Industrial Production (IIP) data released by the NSO, the industrial growth in May was 19.6 per cent, higher than the growth logged the previous month. In terms of the use-based categories, all the sub-indices except consumer non-durables displayed a high double-digit growth in May 2022, she said.
Ashneer, wife plan 'Third Unicorn' after swindling BharatPe
Before co-founding BharatPe, Grover was associated with Grofers, which is now 15-minute delivery platform Blinkit that has been acquired by Zomato for Rs 4,447 crore (about $568 million) in an all-stock deal. According to data accessed through Tofler, the Grovers have now registered a new company to begin their new journey. The nature of the startup is now known yet.
RBI fines Ola Financial Services over Rs 1.67 crore
The penalty has been imposed in exercise of powers vested in the central bank under Section 30 of the Payment and Settlement Systems Act, 2007. "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers," the RBI said.
Global PC shipments see sharpest decline in 9 years in Q2
The worldwide PC shipments saw 72 million units in the second quarter, a 12.6 per cent decline from the second quarter last year, according to Gartner. "The decline we saw in the first quarter of 2022 has accelerated in the second quarter, driven by the ongoing geopolitical instability caused by the Russian Invasion of Ukraine, inflationary pressure on spending and a steep downturn in demand for Chromebooks," said Mikako Kitagawa, research director at Gartner.
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