BUSINESS
Companies to spend $158 bn on environmental, social sustainability
Organisations face mounting pressures to improve and document their ESG performance. Because the initial steps to a sustainable transformation can be daunting to firms that have not attempted anything similar in the past, sustainability-linked consulting spending has become a high priority, according to the IDC forecast. "In 2022, all enterprises are being pushed to transform and fundamentally change the way they do business to become sustainable enterprises,".
Global server market revenues to reach $112 bn in 2022
From an enterprise perspective, transformation to hybrid cloud and upgrades of existing infrastructure to handle increased workloads will provide growth impetus after a pause during the COVID-19 pandemic, says Counterpoint Research's 'Global Server Sales Tracker'. 5G, automotive, cloud gaming and high-performance computing will remain the key drivers for cloud service providers in data centre expansion.
Kohinoor Foods turns multibagger as shares rise 700% since April
Stock prices ranging in single digit are known as penny stocks, and they typically have high volatility associated with them. On the other hand, multibagger stocks are those whose share prices rise exponentially over a short period of time. Since April 6 when the ban on trading in the equity shares of Kohinoor Foods was revoked, the shares rose a little over 700 per cent to Rs 62 per share. In early April, the share price of the company was around Rs 8.
Nitin Spinners, multibagger stock of 2021, trading 40% off highs
At Friday's closing, the shares traded at Rs 215 per share. The company deals in textile and is one of the leading manufacturers of cotton and blended yarns, grey knitted fabrics and finished and printed woven fabrics. Notably, in 2021, the textile manufacturer was one of the multibaggers as the company's shares rose over 200 per cent cumulatively.
Binny Bansal sells Flipkart stake to Tencent as China hardens border position
The news about Bansal selling Flipkart stock to Tencent came at a time when US Secretary of Defense, Lloyd Austin, said on Saturday that China is hardening its positions along the Indian border. Addressing the Shangri-La Dialogue in Singapore, Austin said that China is taking aggressive and illegal approaches to the territories it claims in the South China Sea.
Global PC shipments to fall 8.2% in 2022 due to economic slowdown
The global macro-economic factors are set to hamper global shipments of traditional PCs this year, leading to a 8.2 per cent fall (on-year) to 321.2 million PC units. Similarly, the forecast for worldwide tablet shipments has been lowered to 158 million units, a 6.2 per cent decline compared to 2021, according to a new IDC report. Headwinds from lockdowns, war, and inflation are the leading factors behind slowing demand for PCs and tablets.
Global TWS shipments up 17% in tough market
According to the latest Canalys data, Apple, Samsung and Xiaomi retained their top three positions from the previous quarter, but only Apple grew shipments. Among the top five TWS vendors, Skullcandy and Edifier, both audio players, gained market share while the top three lost it. Since Q3 2021, TWS remains the only growing category, leading to the overall 4 per cent growth in the worldwide smart personal audio market.
BharatPe sees more high-profile exits after Ashneer Grover saga
Earlier, BharatPe's chief revenue officer Nishit Sharma and head of institutional debt partnerships, Chandrima Dhar, had quit citing personal reasons. "This is to inform that Satyam Nathani has decided to move on from BharatPe to pursue his entrepreneurial ambitions. We will back him to build the next big tech disruptions," the company said in a statement.
US-based e-scooter giant Bird lays off 23% of employees
While tech layoff tracker Layoffs.fyi attributes the news of the layoffs to an internal memo, certain LinkedIn posts from former Bird employees confirm that the layoffs have already begun, reports Techcrunch. The layoffs are hitting everyone from senior managers to new hires across different business divisions. Bird has also confirmed the layoffs to the website, saying that the departures will span across the organisation and regions.
Netflix frontrunner to acquire streaming rival Roku: Report
According to a report in Insider citing sources, Roku employees have long been speculating about the company being sold to Netflix. The buyout would reportedly cost around $13 billion (based on its current valuation) and will give Netflix a foothold in the hardware market. Both Netflix and Roku did not comment on the report.
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