BUSINESS
Video-editing SaaS platform VideoVerse raises $46.8 mn
Previously known as Toch.ai, VideoVerse is building the next-generation video editing ecosystem addressing a broad range of use cases in the post-production process. The funding round was led by A91 Partners, Alpha Wave Global and Binny Bansal, former co-founder of Flipkart. "As we chart out the next phase of our growth journey, these funds will help us in our mission to innovate on behalf of consumer needs and industry demands," said Vinayak Shrivastav, CEO and co-founder, VideoVerse.
Apple workers in NYC seek $30 per hour minimum wage
The Apple workers' union, called Fruit Stand Workers United, has updated its websites with new demands, including the wage increase, health and safety research, and better education and retirement benefits, reports The Verge. The union also wants pay calculated using a "matrix based on role, tenure, and performance". The union also called on Apple to "conduct research into security protocols with customer interactions, and research into track dust, health effects from building materials, and noise pollution at Grand Central".
Netflix loses 2 lakh paid subscribers in Q1, shares tank 20%
Moreover, Netflix forecasts a global paid subscriber loss of 20 lakh for the second quarter (Q2) of 2022. The decline has brought Netflix's subscriber base to 221.6 million, down from 221.8 million in the previous quarter.
ACC's consolidated net profit down 30% in Q1CY21 on YoY basis
The company's consolidated net profit fell to Rs 396 crore from Rs 563 crore reported for the corresponding quarter of the previous fiscal. However, the company's consolidated net sales were up to Rs 4,322 crore in the quarter under review from Rs 4,213 crore earned during Q1CY21.
Snapping 5-day losing streak, indices up in opening session
In the past five sessions, the Sensex and Nifty declined almost 4 per cent. High inflation amid rising crude prices weighed on the investors sentiment in the past few sessions, said analysts.
Reliance Brands Ltd and Abu Jani Sandeep Khosla form a strategic partnership
The strategic partnership is aimed at accelerating the 35-year-old couture houses growth plans in India and across the globe. Abu Jani and Sandeep Khosla will continue to lead the design and creative direction of the brand. Abu Jani and Sandeep Khosla are India's premier couturiers their design legacy began in 1986. Based in Mumbai, their couture label Abu Jani Sandeep Khosla is internationally feted, for its quality and elegance.
IMF cuts India's 2022 growth prospects
The fund had earlier projected 9.5 per cent growth for the Indian economy in 2022. It slashed it by 0.5 percentage points in its January report and it has further reduced it now by 0.8 point. The fund has also cut its projection for 2023 by 0.2 point to 6.9 per cent.
Financial stability risks risen amid Russia-Ukraine conflict: IMF
"Global financial conditions have tightened notably" and downside risks to the economic outlook have increased as a result of the Russian-Ukraine war, according to the newly released Global Financial Stability Report (GFSR). The tightening has been "particularly pronounced" in eastern Europe and Middle East countries with close ties to Russia, reflecting lower equity valuations and higher funding costs, the IMF report was quoted as saying by Xinhua news agency.
Sunflag up 73% in April; Co says scrip movement market-driven
Upon seeing such a sharp rally in prices, the stock exchanges have sought clarification from the company. In reply, Sunflag said the company has been in compliance with all the SEBI rules and has made all the necessary disclosures before the stock exchanges as per the provisions of the listing regulations.
Industry safeguarded by rules and regulations, says Association of Direct Selling Entities of India
As per industry estimates, the direct selling industry in India is providing enormous opportunities for women's empowerment and growth of the MSME sector. The sector has also been instrumental in providing employment to nearly 12.2 crore people, who lost their jobs during the pandemic-impacted period. It not only provides livelihood to many Indians, but also helps bridge the gender divide and provides skilling opportunities to millions of women and youth.
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