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Global consumer-focused investment firm L Catterton said on 18 December that it had invested an undisclosed amount in Haldiram's, an Indian packaged ethnic foods brand, and formed a strategic collaboration with the company. According to a press release from the investment firm, Haldiram's will benefit from
McKinsey & Company is thinking about laying off thousands of employees in response to the quick development of artificial intelligence. According to reports, senior executives at the company have discussed plans to cut staff in several non-client-facing divisions by roughly 10%. This might result in several thousand layoffs over the
In the upcoming weeks, Amazon plans to lay off 370 employees at its European headquarters in Luxembourg. At this workplace, this will be the largest round of job reductions ever. Approximately 8.5% of the 4,370 employees are impacted by the cuts. The layoffs follow Amazon's announcement
In an effort to establish itself as a domestic substitute for app-based taxi aggregators like Uber and Rapido, India's first cooperative-based taxi service, Bharat Taxi, is scheduled to launch in the nation's capital early next year. According to government sources, over one lakh drivers have already
As the largest IT services company in the nation intensifies its efforts to become an AI-led organisation, Tata Consultancy Services has revealed for the first time that its artificial intelligence division has crossed $1.5 billion in annualised revenue, gaining 16% quarter over quarter. Chief executive K Krithivasan stated during
According to CNBC and Reuters, who cited people with knowledge of the situation, Amazon and OpenAI are negotiating a possible billion-dollar investment in the AI startup. Amazon may invest more than $10 billion in OpenAI in addition to a deal to use its AI processors, according to the two publications&
Coinbase Global Inc.'s proposal to purchase a minority share in DCX Global Ltd., the company that controls the brand, technology, and intellectual property of cryptocurrency unicorn CoinDCX, has been accepted by the Competition Commission of India (CCI). Coinbase, a US-based company, has lately extended its operations to India
According to various media reports, Zepto, a quick commerce (qcom) unicorn, is expected to submit the draft documents for its impending initial public offering (IPO) within the next seven to eight days, as reported by Business Standard. The business plans to go public the following year and is anticipated to
Mizuho Financial Group Inc. is making its most recent wager on India's quickly growing financial services industry by purchasing a majority share in the investment bank Avendus Capital Pvt., which is backed by KKR & Co. The third-biggest bank in Japan announced on 17 December that a significant
On December 16, tech giant Google announced $8 million in financing for four AI centres of excellence in India. The investment will also be used for a number of research partnerships and healthcare-focused AI projects that will boost the nation's AI ecosystem. The grant was revealed during Google&
According to multiple media sources, Temasek-backed upGrad has started early preparations for an IPO that might garner $350–400 million. The company is investigating inorganic expansion through possible mergers and acquisitions at the same time as the IPO push. As reported by media houses, upGrad is investigating a possible $300–
The consumer products division of Reliance Industries is once again looking to enter a new market by purchasing a smaller brand. The business is well-known for acquiring lesser historical brands like Velvette shampoos and Campa Soft Drinks. It was recently separated off from Reliance Retail to become a direct division
Following predictions that his SpaceX firm was expected to go public at a valuation of $800 billion, Forbes reported on December 15 that Elon Musk became the first individual ever worth $600 billion. According to a Reuters article last week, Musk, who became the first person to reach $500 billion
The Reserve Bank of India (RBI) has given HDFC Bank's subsidiaries permission to purchase up to a 9.5% share in IndusInd Bank. India's biggest private sector lender by market value stated in an exchange statement on 15 December that the permission is effective for a
WhatsApp must obtain user agreement before sharing data with Meta parties for both advertising and non-advertising reasons, according to a clarification made on 15 December by the National Company Law Appellate Tribunal (NCLAT). A panel headed by Justice Ashok Bhushan, the chairperson of the NCLAT, granted the Competition Commission of
Wheels India announced on 15 December that it and Japan's Topy Industries have inked a technical assistance agreement for the design, development, and production of aluminium alloy wheels. According to a statement from the company, Topy will contribute engineering support and technical expertise to improve Wheels India'
According to various media reports, Walmart-owned online retailer Flipkart has been given permission by the National Company Law Tribunal (NCLT) to move its headquarters from Singapore to India. This move brings the company one step closer to its eagerly awaited public listing on Indian exchanges. The Bengaluru-based online retailer has
In order to improve the nation's whole EV ecosystem, Maruti Suzuki India intends to localise battery manufacture and other essential components over the coming years. In an effort to boost the EV ecosystem as a whole, the firm intends to inspire confidence in consumers by introducing its first
For an INR 2,342.3 Cr IPO, Shiprocket has submitted its revised draft red herring prospectus (UDRHP) to SEBI. A new issue of equity shares up to INR 1,100 Cr and an offer-for-sale (OFS) component up to INR 1,242.3 Cr would make up the company'
Global alternative investment giant Brookfield Asset Management intends to invest $1 billion to build Asia's largest global capabilities centre (GCC) on a 6-acre plot of property in the Powai suburb of Mumbai, with a total leasable area of 2 million square feet. Over 30,000 jobs are anticipated
According to Reuters, citing sources, American chip manufacturer Nvidia is thinking about expanding production capacity for its H200 artificial intelligence chips because demand for the product from Chinese enterprises surpasses current output. In response to questions from Reuters, an Nvidia representative stated that the business is controlling its supply chain
On December 12, IT services firm Wipro said that it has reached a three-year agreement with tech powerhouse Microsoft to create industry-specific AI solutions for businesses and hasten the adoption of AI. According to a statement from the firm, the collaboration would integrate Microsoft technologies like Azure, Microsoft 365 Copilot,
Ahead of the holidays, WhatsApp has revealed a new set of capabilities that will improve the speed, fluidity, and expressiveness of its discussions for its user base worldwide. These improvements will be available in calls, chats, and status updates. One of the most significant features, according to a blog post
Disney is investing $1 billion in OpenAI and licensing hundreds of its most well-known characters to use in Sora, the company's groundbreaking text-to-video production tool, in one of the most unexpected collaborations of the year. The statement, which was jointly made on 11 December, represents a daring new