The deal represents a resurgence of the two companies' relationship over six years after FedEx declared it would not extend its domestic delivery contracts with Amazon for Ground and Express. FedEx stated at the time that it wished to concentrate on the larger e-commerce industry. Although e-commerce is still
Over 6,000 workers from all levels, teams, and regions will be affected by Microsoft's announcement that it will lay off 3% of its global workforce. The goal of the layoffs at the Redmond giant, which had 228,000 employees as of late June, is to simplify processes
Walmart-owned Flipkart has been going through a significant leadership transition amid ambitions for a public listing. According to reports, at least four executives have resigned from their posts, including three other VPs and a senior vice president (SVP). Anurag Singhvi, VP and head of analytics; Prajakta Kanaglekar, VP and head
According to reports, Flipkart, the massive e-commerce company owned by Walmart, intends to restrict the growth of its Flipkart Minutes rapid commerce division to the top six to eight cities in order to minimise capital burn. The top eight cities account for over 90% of quick commerce volumes, with Bengaluru,
In an effort to automate internal procedures and reduce repetitive work, IBM has started substituting AI agents for some of its HR (human resource) employees. As the internet giant increasingly relies on AI-powered solutions, Arvind Krishna, the company's CEO, recently claimed that "a couple hundred" HR
Zerodha, one of India's leading stockbroking platforms, has achieved a significant milestone. Recently, the company was featured on the iconic Nasdaq Tower in Times Square, New York, celebrating its remarkable contributions to the open-source community. This global recognition highlights the company's outstanding achievements in the fintech
Due to a network capacity shortage brought on by cybersecurity exercises held in the wake of the India-Pakistan conflict, fintech giant PhonePe had an outage on 12 May when it came to processing Unified Payments Interface (UPI) transactions. For more than an hour on the same day, users and industry
Almost a month after market regulator SEBI prohibited them from holding important roles within the firm, Gensol Engineering Ltd said on May 12 that Anmol Singh Jaggi, the managing director, and Puneet Singh Jaggi, the full-time director, had resigned. In his letter of resignation, Anmol Jaggi stated that he would
According to a media report, Motilal Oswal and Raamdeo Agrawal, co-founders of Motilal Oswal Financial Services, have contributed a combined $100 million to Zepto, a startup in the fast commerce space. The company, Motilal Oswal, is getting ready to spearhead a $250 million secondary share offering in Zepto in addition
JSW One Platforms emerges as one of the fastest entrants to the unicorn club in India’s B2B e-commerce space. JSW One Platforms Ltd., India’s leading tech-led B2B e-commerce platform, has raised INR 340 crore of fresh capital, led by Principal Asset Management, OneUp, JSW Steel, and other investors.
According to reports, EV powerhouse Tesla is getting closer to entering India by establishing an assembly plant in Satara, Maharashtra. According to a media report, the Elon Musk-led company plans to establish a completely knocked down (CKD) plant to assist in controlling the import duties on its components. CKDs are
In response to recent worries about layoffs in its business process outsourcing (BPO) segment, Hexaware Technologies clarified that the cuts were not related to artificial intelligence (AI), as some media reports had claimed. The corporation clarified that the seasonality of its business activities was the main cause of the workforce
JustDeliveries, a new-age cold chain logistics startup redefining mid-mile logistics for India’s food and beverage sector, has raised INR 5.5 crore funding in a round co-led by VC Grid and NABVentures. Investors included LetsVenture, Anay Ventures, FAAD Network and others. The capital infusion elevates JustDeliveries’ total funding to
In an attempt to restructure the company, Panasonic Holdings announced on May 9 that it will layoff 10,000 employees and anticipate spending 130 billion yen ($896.06 million) this fiscal year. According to a statement, the electronics company plans to lay off employees mostly during the current fiscal year,
At its Hosur facility, Tata Electronics is dramatically increasing the volume of enclosures it produces for Apple's iPhones. According to a media report, Tata Electronics wants to triple its current capacity of about 50,000 enclosures. The ramp-up will probably occur before Apple's annual product introductions,
According to reports, the Securities and Exchange Board of India (SEBI) has suggested giving investors more freedom to co-invest with alternative investment funds (AIFs). According to a media report, the regulatory board recommended lifting the ban on AIF investment managers offering advisory services for listed shares. To put it simply,
The first hydrogen-powered truck in India, which can transport 40 tonnes of freight over a 200-kilometer radius, was used for mining operations in Chhattisgarh, the Adani Group announced on 10 May. As part of its efforts to promote cleaner transportation, the group's flagship company, Adani Enterprises, waved off
GlobalBees, a FirstCry affiliate, keeps losing employees. According to various media reports, over the past three to four months, three members of GlobalBees' board of directors have resigned: Kaveesh Chawla, board representative of Premji Invest; Sudhir Kumar Sethi, board representative of Chiratae Ventures; and Harsha Deepak Kumar, board representative
According to reports, BluSmart's current backers, which include BP Ventures and ResponsAbility Investments, intend to provide $30 million (INR 253.64 Cr) to help the electric taxi hailing business get back on its feet. According to media reports, the money will be in the form of unsecured debt
GoTrust, a leading privacy compliance and data governance startup, announced the successful closure of a $400K pre-seed funding round led by Aevitas Capital Private Limited. The funding round also saw the participation of an acclaimed Indian actor and entrepreneur, further solidifying GoTrust's position in the data compliance industry.
The makers of ChatGPT have exciting news. OpenAI's Sora picture generator is now available for free via ChatGPT. Now, all users have to do to create photos for free is enter a prompt using words, just like they usually do. The chatbot has been merged with this capability,
~The partnership creates the opportunity for MSMEs in Uttar Pradesh to access Solar finance through device financing~ Aerem Solutions and OMC Power have entered into a strategic partnership to unlock INR 200 crore in financing for rooftop solar solutions targeted at India’s Micro, Small, and Medium Enterprises (MSMEs) in
The president of the union that represents workers announced on 2 May that General Motors is cutting off roughly 750 employees at its Oshawa Assembly facility as it adjusts shifts because of US tariffs. According to a news release from Unifor, the plant, which employs about 3,000 people, will