Business – Page 7 – The Purbottar

09 Oct

MCX gets SEBI nod to launch new trading platform

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

Multi Commodity Exchange of India (MCX) on October 8 said it has received approval from the SEBI Technology Panel to launch a new web-based commodity derivatives platform (CPD) after several delays with the market regulator. "Subsequently, the SEBI Technical Advisory Committee recommended that MCX and MCXCCL may go live with the CDP and inform SEBI of the proposed date of go live," MCX said in a regulatory filing. This development was first reported on October 6 by CNBC-TV18 citing sources. Over the past month, stocks on the Mumbai-based commodity exchange rose 18 percent against a 1.4 percent rise in the…

07 Oct

India to build its own space station in next 25 years: S Somanath

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

After leaving a mark on the Moon with the Chandrayaan-3 mission, the Indian Space Research Organization (ISRO) is now gearing up to set up its first space station. The Indian Space Agency is already working on its Mars and Venus missions and chief S Somnath has revealed ISRO's big plans for the space station. In an interview with CGTN, the ISRO chairman said the Indian space agency is exploring various possibilities for future missions, including a space station and long-duration manned spacecraft launches. "We are looking at all possibilities after the success of the Moon mission," Somanath said. "We are…

07 Oct

Air India plane first look unveiled after rebranding

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

Tata Group-owned Air India shared the first look of its new A350 planes wearing a paintjob to match its new livery. The airline rebranded itself earlier this year with a new red-aubergine-gold look and a new logo 'The Vista'. The latest A350 images were clicked at a workshop in Toulouse, France, with newly painted planes arriving in India this winter, the airline said. "Here's the first look of the majestic A350 in our new livery at the paint shop in Toulouse. Our A350s start coming home this winter… @Airbus" Air India said in a post on X, formerly known as…

06 Oct

Employee laid off by Meta gets a job offer from Google

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

After experiencing layoffs from Meta in April, just shy of her third job anniversary, Hou Zhuoni Hermione achieved her long-held ambition by receiving a job offer from her dream company, Google, five months later. Hermione, who worked as a project sourcing manager at Meta in Singapore, expressed her gratitude for being employed by Meta during the pandemic and being treated well by the company. However, her real dream was to work at Google rather than Meta. "Some of you may have heard me joke about Google being my dream company because the commute would be less than a 15-minute walk.…

05 Oct

Apple CEO Tim Cook’s makes $41M stock cash-out

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

Apple ( AAPL. O) CHIEF Executive Officer Tim Cook sold his largest stake in two years, after a $41.5 million tax, showing a U.S. securities filing. Cook sold 511,000 shares, worth $87.8 million before accounting for taxes, according to a filing dated Tuesday. He made $355 million from a stock sale in August 2021.The Apple chief owns about 3.3 million shares, worth about $565 million, after the sale, the filing shows. The company's shares fell 13% from their record high of $198.23 in July as investors worried about a slower-than-expected recovery over smartphone demand. Apple launched its new iPhone 15…

05 Oct

Torrent files urgent plea in SC against Hinduja plan

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

Torrent Investments Pvt. Ltd filed an urgent letter in the Supreme Court challenging the March 2 order of the National Company Law Appellate Tribunal, which allowed Reliance Capital's creditors to initiate a second auction as part of the corporate insolvency resolution process. In its three-page letter, Torrent said it sought the apex court's intervention for an urgent hearing and final disposal of its pending appeal, challenging the second round of auctions for debt-laden RCap's assets. In the second auction in April, Hinduja Group's IndusInd International Holding Ltd was the sole bidder. "Any further progress pursuant to the conduct of the…

04 Oct

Meta to charge $14 per month from mobile users in EU

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

Mark Zuckerberg-owned Meta may soon charge users in the European Union (EU) a $14 monthly subscription fee to use Instagram on their phones, unless they allow the social media platform to use their personal data for targeted advertising, The Wall Street Journal (WSJ) reported on Tuesday. Meta will charge users $17 for desktop versions of Facebook and Instagram from next week, the report added. The social media company was fined 390 million euros by Ireland's data privacy commissioner earlier this year and told it could not use the so-called "contractual" legal basis to send ads to users based on their…

04 Oct

Amitabh Bachchan ad lands Flipkart in big trouble with mobile phone retailers

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, INDIA

Traders' body CAIT has filed a complaint with the consumer affairs ministry against a Flipkart ad featuring Bollywood star Amitabh Bachchan in the upcoming Big Billion Days sale, calling the ad "misleading". The traders' body, in a strongly-worded letter, said Bachchan's ad "impacts livelihoods" and "hurts local businesses" and will approach the Information and Broadcasting Ministry if the ad is not withdrawn. CAIT demanded that Flipkart be penalized under the relevant provisions of the Consumer Protection Act for "false or misleading advertisement" and Amitabh Bachchan be fined ₹ 10 lakh. An email sent to Flipkart did not elicit any response.…

03 Oct

HP to make Google Chromebook in India

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness

Google has started manufacturing Chromebooks in India in partnership with HP, the PC maker said on Monday. The Chromebook devices are being manufactured at the Flex facility near Chennai, where HP has been manufacturing a range of laptops and desktops since August 2020. "We are partnering with HP to manufacture Chromebooks in India - these are the first Chromebooks made in India and will make it easier for Indian students to access affordable and secure computing," Google CEO Sundar Pichai informed on X. An HP spokesperson confirmed that production of the Chromebook has begun in India. The new Chromebooks are…

03 Oct

WhatsApp bans over 74 lakh Indian accounts in August

Priyanka Bhowmick0 CommentsIndiaBusiness, INDIA

Meta-owned popular instant messaging app WhatsApp has taken action against over 7.4 million 'bad' accounts in India to comply with the new IT norms of 2021. According to the report, the messaging platform banned at least 7,420,748 accounts in the country between August 1-31. About 3,506,905 of these accounts were actively banned prior to any reports from users. The Meta-owned app, in its monthly compliance report, received a record 14,767 complaint reports in August in India, and a record 71 "actions taken". "Account Actioned" refers to reports where WhatsApp has taken remedial action based on the report and taking action…