BUSINESS
Volkswagen chief says they will beat Tesla by 2025
During a meeting at the company's headquarters in Germany, Diess said that Tesla will lose its strength trying to ramp up two gigafactories -- one in Austin, Texas and the other in Grunheide, Germany, reports the Daily Mail. He sees this as an opportunity to take the lead, as Volkswagen is running at full capacity.
Curd, lassi, cheque books, ink among things to turn costlier
Similarly, unbranded but pre-packed curd, lassi, butter milk, food items, grains etc will be brought under the GST net from the exemption list. Writing, printing, or drawing ink will also become costlier. The rate rationalisation decision was taken at the two-day 47th GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman, that started in Chandigarh on Tuesday.
SEBI allows FPI participation in Exchange Traded Commodity Derivatives
The FPIs will be allowed to participate in Indian ETCDs, subject to certain risk management measures, the capital market regulator said. According to the SEBI, the existing Eligible Foreign Entity (EFE) route, which required actual exposure to Indian physical commodities, has been discontinued.
BYJU's says Aakash acquisition process on track, to be completed by August
For the layoff at Toppr which it acquired last year for $150 million, BYJU's confirmed the development, saying it has completed "the integration of Toppr and has absorbed almost 80 per cent of its talented workforce into the BYJU'S ecosystem". After the acquisition was completed, Toppr's employees from the sales and marketing division were retained while those in other departments were asked to go.
Japan's Renesas joins Tata Motors to build chips for India, global markets
The aim is to enhance innovation across electronics systems for the Indian and emerging markets. Renesas will collaborate with Tejas for implementing next-generation wireless network solutions, including design and development of semiconductor solutions for radio units (RU) used in telecom networks, from 4G, 5G, to open radio access network (O-RAN) for the 5G era.
BYJU's-owned WhiteHat Jr lays off 300 employees in latest churn
In a statement, the company said that "to realign with our business priorities, we are optimising our team to accelerate results and best position the business for long-term growth". The edtech sector has been hammered by the global macroeconomic conditions and reopening of schools, colleges and physical tuition centres.
Bitcoin investor Roger Ver owns us $47 mn: CoinFlex CEO
CoinFlex froze crypto withdrawals on June 27, saying that it would restart withdrawals on June 30 with a condition that it needs to sell tokens related to a debt owed by a "certain high net worth individual". It then did not name Ver, also known as Roger "Bitcoin Jesus" Ver. Now, in a tweet late on Tuesday, Lamb revealed his name.
US sues Walmart for facilitating money transfer scams worth $197 mn
In its lawsuit, the FTC alleged that for years, the company turned a blind eye while scammers took advantage of its failure to properly secure the money transfer services offered at Walmart stores. "The company did not properly train its employees, failed to warn customers, and used procedures that allowed fraudsters to cash out at its stores", according to the FTC's complaint. The FTC is asking the court to order Walmart to return money to consumers and to impose civil penalties for Walmart's violations.
Adani Ports moves SC challenging Bombay HC order against tender disqualification
The firm has also challenged the Rs 5 cost imposed by the high court. Senior advocate Abhishek Manu Singhvi mentioned the plea before a vacation bench of Justices Surya Kant and J.B. Pardiwala, and sought urgent hearing on the matter. The tender was issued by the JNPA for upgradation of its container terminal in Navi Mumbai.
Tata Motors to increase CV prices from July 1
The percentage of hike will depend upon the individual model and variant. "While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," the company said.
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