Business

10 Nov

Meta’s Zuckerberg ‘ignored’ executives on kids safety, lawsuit says

Priyanka BhowmickBusiness, BUSINESSBusiness, india

A new lawsuit filed against Meta by the state of Massachusetts claims that Meta CEO Mark Zuckerberg dismissed concerns about Instagram's features negatively impacting users' mental health. According to the lawsuit filed Monday in Suffolk Superior Court, Zuckerberg and other members of Meta's leadership were asked to remove plastic surgery filters from Instagram and Facebook by 2019 because of concerns from mental health experts about the filters' negative mental health effects may affect young users, especially women. According to an internal email cited in the complaint, Instagram's then-policy chief allegedly pleaded with Zuckerberg to disable the filters, writing, "We're talking…

09 Nov

Amazon starts laying off employees in music streaming unit

Priyanka BhowmickBusiness, IndiaBusiness, india

Amazon.com Inc. is cutting jobs at its music division, which includes the retail giant's audio streaming platform and digital storefront for music, as Chief Executive Officer Andy Jassy continues to cut costs across the company.The targeted jobs are in Amazon Music's editorial and audio content teams, said people familiar with the matter, who asked not to be named because the details are private. It's unclear how many locations were damaged. "Like many businesses, we are closely monitoring our organizational needs and prioritizing what matters most to customers and the long-term health of our business," an Amazon spokesperson said. "As a…

08 Nov

Tata considering sale of Voltas home appliance business

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness

Tata Group is considering selling Voltas Ltd's home appliance operations as the Indian company foresees difficulties growing the business in a competitive market, according to people familiar with the matter. Tata Group management is mulling the possibility of a sale and has not decided whether to include the local joint venture in a deal with Arcelic AS, the people said, asking not to be identified as the information is private.Considerations are at an early stage and the Tata group may decide to hold the asset for longer, the people said. A representative for the Tata Group declined to comment. Shares…

07 Nov

Amazon employee quits job instead of working from office, loses stocks worth Rs 1.7 crore

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

An Amazon employee who worked in a remote role with the tech giant for nearly four years has decided to quit after being asked to return to an office in the US. In doing so, he had to part with $200,000 (roughly Rs 1.7 crore) worth of company stock, but John Schoenhoff (name changed) has zero regrets. Speaking to Business Insider, Schoenhoff said the return mandate at the company's office required him to move cities across the country, from New York to Seattle, giving up the dream life he was living. "I enjoyed my work at Amazon," Schoenhoff told the…

06 Nov

Elon Musk’s xAI introduces Grōk

Priyanka BhowmickBUSINESS, IndiaBusiness, india

xAI Corp. on Saturday announced its first large-language generative AI model called Grōk (which means 'understands something intuitively') with the goal of building a "better AGI" (artificial general intelligence). The latest LLMT was developed by a group of engineers who are part of other major generative AI models such as OpenAI, Google and DeepMind. According to Elon Musk, xAI's Grōk is 'highly curious' and 'truly curious' compared to other language models. It is also called a truth-seeking artificial intelligence. He also said that Grōk requires substantial computing resources and is designed to be a helpful tool for consumers and businesses.…

04 Nov

Intel collaborates with Indian companies for local manufacturing of laptops

Priyanka BhowmickBusiness, IndiaBusiness, india

Intel is accelerating local manufacturing in India through a new collaboration with 8 local companies, a mix of both EMS and ODMs. The semiconductor chip maker said it will equip these companies with the know-how needed to set up laptop production for both domestic and international demand. The collaboration will see the manufacturing of "complete" entry-level laptops in India, with Intel sharing its SMT line know-how, setting up a quality control process for components and benchmarking the finished product. Companies Intel is collaborating with include Bhagwati Products Limited, Dixon Technologies India Limited, Keynes Technology India Limited, Optiemus Electronics Limited, Panache…

03 Nov

Ajio launches Ajiogram to empower Indian fashion startups

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

Reliance Industries Ltd (RIL)-owned fashion e-tailer Ajio on Thursday launched Ajiogram, a D2C-focused interactive e-commerce platform, which aims to 'empower Indian fashion startups that are challenging the norm through their vision and innovative products.' "Ajiogram offers a unique brand-centric approach, where, unlike the status quo, brands gain heightened visibility with an immersive discovery experience to showcase their style range," Ajio said in a statement. Details about Ajiogram:1.) The platform can be easily accessed by switching stores within the Ajio app. Also, with this initiative, the Reliance-owned e-tailer aims to 'empower' the next 100 fashion startups to emerge from the country,…

02 Nov

Naresh Goyal diverted crores in bank loans through wife, children: ED

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

The Enforcement Directorate (ED) has attached assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies in London, Dubai and India, Central Investigation Agency officials said on Wednesday. They added that the action was taken as part of a money laundering investigation linked to an alleged bank loan fraud.ls said. The attached property has 17 residential flats, bungalows and commercial space, officials said. Located in London, Dubai and various cities in India, these properties are held in the names of different companies such as Jetair Pvt Ltd and Jet Enterprises Pvt Ltd, Goyal, his…

01 Nov

SBI Card joins hands with Reliance Retail for launch of ‘Reliance SBI Card’

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

SBI Card, India's largest pure-play credit card provider and Reliance Retail have launched a co-branded 'Reliance SBI Card'.This lifestyle-focused credit card will provide a rewarding shopping experience for customers across different segments with different spending needs.The card enables cardholders to unlock rewards and benefits when transacting across Reliance Retail's product ecosystem. Additionally, Reliance SBI Card users can also avail curated offers by SBI Card on an ongoing basis.The co-branded card was launched in two variants – Reliance SBI Card and Reliance SBI Card Prime – each designed to bring rewards and lifestyle benefits to specific consumer needs. The annual renewal…

01 Nov

Centre hikes Commercial LPG prices by Rs 101

Priyanka BhowmickBusiness, India, LifestyleBusiness, india

Oil companies have hiked the price of commercial LPG cylinders by Rs 101.50 from November 1. Now, as per the new rates, a commercial cylinder of LPG will now be available at Rs 1833 in the capital Delhi. Now a 19 kg commercial LPG cylinder will cost Rs 1,785.50 in Mumbai, the cheapest among the four metros. The price in Chennai will be dearest, Rs 1,999.50. It will retail for Rs 1,833 in Delhi and Rs 1,943 in Kolkata. The new price of LPG cylinders will be applicable only on 19 kg commercial cylinders. There will be no change in…