Business

Ola Electric unveiled 4 new electric motorcycle concepts
16 Aug

Ola Electric unveiled 4 new electric motorcycle concepts

Priyanka BhowmickBusiness, India,
Ola Electric showcased not one but four different motorcycle concepts alongside the launch of the new S1X range and Gen 2 platform. The bike lineup includes a roadster, an ADV, a supersport, and a cruiser model. All four models are in their early stages of development and here's what they look like. The ADV offer gets a futuristic look just like all other models. It has flush-fit panels around while styling makes it a thorough adventure bike. It has a wide handlebar with guards, an LED headlight at the top by a transparent visor, a side panel that is twice…
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LS Digital buys Social Panga in third acquisition
14 Aug

LS Digital buys Social Panga in third acquisition

Priyanka BhowmickBusiness, India,
India's largest digital marketing services company, LS Digital (formerly LogicServe Digital), has acquired Social Panga according to a company statement. The integrated creative company will become part of LS Digital's six-pillar structure, which consists of media, UI/UX, creative and communication, CX (MarTech), data and insights and tech innovation. This is LS Digital's third acquisition. Last year, it acquired Langoor Digital and F1 Studios. "This marks an important step towards achieving the goal of creating an end-to-end suite of services in India for the world," it said. "Social Panga will give the group an added edge in our robust digital marketing…
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ChatGPT maker OpenAI likely to go bankrupt by 2024
14 Aug

ChatGPT maker OpenAI likely to go bankrupt by 2024

Priyanka BhowmickBUSINESS, Business, India,
OpenAI, the AI ​​studio led by Sam Altman, may be on the brink of a potential financial crisis, as noted in a report by Analytics India magazine. According to the report, the company may go bankrupt by the end of 2024. Reports say OpenAI costs around $700,000 (Rs 5.80 crore) per day to run just one AI service – ChatGPT. Mr. Altman's OpenAI is burning through cash right now. Despite efforts to monetize GPT-3.5 and GPT-4, the company was not able to generate enough revenue to break even this time around. After launching in November 2022, ChatGPT became the fastest-growing…
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Deloitte likely to resign as auditor of Adani Ports
12 Aug

Deloitte likely to resign as auditor of Adani Ports

Priyanka BhowmickBusiness, India,
Deloitte Haskins & Sells LLP is set to step down from its role as auditor of Adani Port and SEZ, Reuters reported. It comes after auditors raised concerns about certain transactions highlighted in a report by US short-seller Hindenburg. A person with direct insight into the situation shared this information with the news agency. According to sources, the auditor reportedly had differences with management regarding some transactions. Deloitte is expected to formally announce its resignation as Adani Port's auditor in the next few days, a source told The Economic Times. It should be noted that Deloitte has been auditing the…
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Puma announces Shanaya Kapoor as its new brand ambassador
11 Aug

Puma announces Shanaya Kapoor as its new brand ambassador

Priyanka BhowmickBusiness, Entertainment, India,
There's no denying that Shanaya Kapoor's incredible style sensibility has given us endless fashion statements ahead of her much-anticipated Bollywood debut. Shanaya has already been roped in as the new brand ambassador of sports brand Puma in the talk of the town and in another incredible move. She took to her Instagram to share the news with a series of stunning pictures arranged from head to toe in Puma. "Grab your sneakers," she wrote. The next generation of PUMA is ready to take over. Since her much-talked-about debut, Shanaya has also been making strides in the fashion space and has…
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2023 Mercedes-Benz GLC launched in India at Rs 73.5 lakh
10 Aug

2023 Mercedes-Benz GLC launched in India at Rs 73.5 lakh

Priyanka BhowmickBusiness, India
Mercedes-Benz, India's largest German luxury car maker, on Wednesday, launched the second-generation GLC SUV priced at Rs 73.50 lakh for 300 4Matic petrol and Rs 74.50 lakh for 220d 4Matic diesel at pan India showrooms. Notably, the all-new GLC SUV has already received over 1,500 bookings since bookings opened on July 17. The GLC competes with BMW X3 (Rs 68.50 lakh-Rs 87.70 lakh), Volvo XC60 (Rs 67.50 lakh), Audi Q5 (Rs 62.35 lakh-Rs 68.22 lakh), Land Rover Discovery Sport (Rs 71.39 lakh) and Le. Rs.67.35 lakhs - Rs.74.24 lakhs). The GLC is the first Mercedes SUV to receive the latest…
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Paytm Payment Services auditor PwC resigns
09 Aug

Paytm Payment Services auditor PwC resigns

Priyanka BhowmickBusiness, India,
PwC has resigned as auditor of Paytm Payment Services (PPSL), a subsidiary of fintech major Paytm, effective August 7. The company has appointed SR Batliboi & Associates as its new auditor, Paytm owner One 97 Communications said in a note to the stock exchange filing on Monday. In its resignation letter to the board of directors of Paytm Payment Services dated August 7, PwC said there has been a change in auditors at the holding company level. "Consequently, keeping in mind your understandable practice of combining the auditors of PPSL with the auditors of the holding company as a material…
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MPL slashes 350 employees after 28% GST imposed on online gaming
09 Aug

MPL slashes 350 employees after 28% GST imposed on online gaming

Priyanka BhowmickBusiness, India,
Mobile Premier League (MPL), a prominent domestic online gaming platform, has cut its workforce by around 50%, affecting around 350 jobs. The move comes as the 51st GST Council meeting maintained the 28% tax on the gross value collected from online gaming, prompting the MPL to take measures to address its financial challenges. The Bengaluru-based startup initially informed employees about the upcoming job layoffs last week, followed by an official communication. Sai Srinivas, founder and CEO of MPL, explained in an internal email that the primary variable cost as a digital company involves staff, server operations and office infrastructure. Downsizing…
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Brainiacs roped in Ayushmann Khurrana as the brand ambassador
08 Aug

Brainiacs roped in Ayushmann Khurrana as the brand ambassador

Priyanka BhowmickBusiness, BUSINESS, India,
Brainiacs, a hybrid schooling platform powered by Birla Open Minds (affiliated with University of Cambridge) has announced Ayushmann Khurrana as its brand ambassador. Brainiacs combines technology with experiential learning, supported by a teacher training academy. It is to stimulate collaborative learning through an interactive learning pedagogy for students from nursery to grade 12. "With over 150 hybrid centres and specialized home tutors across India, the platform's focus is not limited to the school curriculum; It also offers a unique mental wellness course called coding, communication skills, vlogging, financial literacy, and soul science. We provide students with the perfect mix of…
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Indian origin Vaibhav Taneja appointed Tesla’s CFO
08 Aug

Indian origin Vaibhav Taneja appointed Tesla’s CFO

Priyanka BhowmickBusiness, BUSINESS, India,
Tesla, an automotive and energy company, has appointed Indian-origin Vaibhav Taneja as its chief financial officer. In an August 7 filing with the Securities and Exchange Commission (SEC), the company said he will assume duties as CFO in addition to his current role as chief accounting officer. He succeeded Zachary Kirkhorn who resigned on August 4 after a thirteen-year term with the company. Taneja joined Texas-headquartered firm Tesla in 2018 as an assistant corporate controller. Taneja(45) previously worked in various finance and accounting roles at SolarCity Corporation and PricewaterhouseCoopers (PwC) in India and the US. He is a Chartered Accountant…
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