International

24 Jun

Singapore’s Grab slashes 1,000 jobs in biggest round of job cuts since pandemic

Priyanka BhowmickBusiness, InternationalBusiness, Entertainment

Singapore's ride-hailing company Grab is cutting about 1,000 jobs, or about 11 percent of its workforce. This is the biggest round of job layoffs by the Southeast Asian tech giant since the pandemic, when it laid off about 360 employees in 2020. Grab CEO Anthony Tan said the layoffs were not a "shortcut to profits" but part of a fundamental shift in the company's operating model and cost structure. He described the decision to lay off around 1,000 employees as a 'painful but necessary step'. In a letter to Grab staff, Tan wrote, “I want to be clear that we…

23 Jun

OLX Group fires 800 employees after shutting down OLX Autos in several regions

Priyanka BhowmickAccident, India, InternationalBusiness, india

In the last few years, many big and small companies around the world have retrenched employees. In this series, the online marketplace OLX Group has announced plans to reduce its workforce globally and has laid off a large number of employees. The group has laid off around 800 employees worldwide. Let us tell you that OLX Group has business in 30 countries, including India, and its headquarters are in Amsterdam. According to a report in TechCrunch, after searching for potential buyers and investors, the company has started winding down operations of its automotive unit, OLX Auto, in the market. A…

23 Jun

All 5 on Titanic Submarine are dead, US Coast Guard says

Priyanka BhowmickAccident, Internationalindia

All the fears came true and the submarine Titan was destroyed. The fate of submarines is similar to that of visiting the wreck of the famous ship Titanic. According to the sources of the USA Cost Guard, the submarine collapsed shortly after diving under the water. Five people in the submarine died. The wreckage of the submarine was found around noon on Thursday US time. Incidentally, the submarine Titan was missing since last Sunday. In a press conference on Thursday, the US Navy said that the submarine Titan had broken down very close to the wreckage of the Titanic. The…

15 Jun

Google Doodle reminds Pakistan about its general elections

Priyanka BhowmickInternationalInternational

Google's new Doodle reminds the people of Pakistan that the country is going to hold elections this year. Pakistan's last elections were held in 2018 where former cricketer Imran Khan's Pakistan Tehreek-e-Insaf party secured a comfortable victory by winning 149 of the 342 seats in the National Assembly with a vote share of 31.82 percent. However, the Imran Khan government was ousted from the government last year and Prime Minister Shehbaz Sharif took over. Khan blamed the then army chief General Qamar Javed Bajwa and the US for plotting his ouster. Pakistan's next general election is scheduled to be held…

13 Jun

EU regulators may demand Google sell part of Ad-tech Business

Priyanka BhowmickInternationalWorld

European Union antitrust regulators may order Alphabet Inc Google to sell part of its ad-tech business, a source with direct knowledge of the matter told Reuters on Monday. The European Union's top antitrust watchdog, the European Commission, is expected to issue a formal complaint against Google as early as Wednesday, the source said, intensifying trans-Atlantic efforts to reduce the tech giant's dominance in digital advertising. In 2022, the Commission opened an investigation into Google's pervasive presence at nearly all levels of the supply chain for online display advertising, raising concerns about its dominant position. Break-up orders from EU competition enforcers…

05 Jun

Elon Musk’s Twitter hires NBCUniversal’s Joe Benarroch in operations role

Priyanka BhowmickBusiness, InternationalBusiness

Elon Musk's Twitter is hiring NBCUniversal senior executive Joe Benarch to focus on business operations.At NBCUniversal, Benark was executive vice president of communications, global advertising and partnerships. In a memo to colleagues on Sunday, Benarch said he was taking a business operations position at Twitter. "I look forward to bringing my experience to Twitter and working with the entire team to build Twitter 2.0," he wrote. “Welcome to the flock, @benarroch_joe! From one bird to the next," tweeted Incoming Twitter CEO Linda Yaccarino

16 May

Mark Zuckerberg move towards AI to create new products

editorBusiness, International

This isn't the first time Zuckerberg has shifted his focus from one new technology to another. Earlier, Zuckerberg had taken the same stance on crypto and metaverse. (File photo). After various experiments on crypto and the metaverse, Mark Zuckerberg has now turned to AI in his quest to define the future of meta. Facebook becoming Meta on October 28, 2021, was a sign of how quickly Mark Zuckerberg wanted to change the social network he created. Facebook was founded in 2004 and has so far maintained its relevance primarily through acquisitions. It seems the challenge Zuckerberg is facing is moving…

13 May

Linda Yaccarino becomes the new Twitter CEO

Priyanka BhowmickBusiness, InternationalBusiness, International

Linda Yaccarino, widely publicized to become Twitter's new CEO, has resigned as head of advertising from NBCUniversal, effective immediately. Earlier on Friday, Musk said he had found a new chief executive for the social media site but did not name the person. NBC parent Comcast CMCSA. also said last month that NBCUniversal CEO Jeff Shell was leaving after admitting to an inappropriate relationship with a woman at the company, his departure another major blow to the company following an allegation that prompted an investigation. Advertising President Mark Marshall will step down as interim chairman of NBCUniversal's advertising and partnerships group.…

04 May

Ajay Banga confirmed as the next President of World Bank

Priyanka BhowmickBusiness, InternationalBusiness, india

Ajay Banga, who on Wednesday became the next President of the World Bank, becoming the first Indian-American to head a global financial institution, said he looks forward to working with him when developing countries are facing tracking the most difficult development challenges. "The Executive Directors of the World Bank today elected Ajay Banga as the President of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the United States would nominate 63-year-old Banga to lead the World Bank because he is "well-equipped" to lead…

07 Feb

Fourth major quake of 5.6 magnitude struck Turkey as death rate from previous ones cross 4,000

Business CorrespondentInternational

The central region of Turkey was hit by a 5.6 magnitude earthquake on Tuesday, hours after three catastrophic earthquakes struck Turkey and Syria on Monday, resulting into death of more than 4,000 human beings. The process of rescuing victims are going on. Many countries, including India, are sending in supplies and relief teams.NDRF Search and Rescue Teams, specially trained dog squads, medical supplies, drilling machines and other equipment from India left for Turkey early today morning. This stand came in the backdrop of PM Narendra Modi visits to the quake-hit country. Turkey’s President Recep Tayyip Erdogan has declared seven days…