Jack Dorsey, the co-founder of Block Inc. and Twitter, has reportedly lost $526 million in net worth after a report by Hindenburg Research accused the payments company of ignoring significant fraud. Dorsey’s net worth currently stands at $4.4 billion, according to the Bloomberg Billionaires Index, after an 11 percent decline in his fortune. Hindenburg Research […]
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Swiss technology firm Logitech recently announced that it would be laying off 300 employees due to a challenging global macro-economic environment. The company, which is known for making computer accessories, has cited lower enterprise and consumer spending as the reasons behind the slump in business. According to Logitech President and CEO Bracken Darrell, the decision […]
Business
As the world faces an impending recession, the tech industry is not immune to its effects. Tech giants like Amazon, Meta, and Accenture have already announced significant layoffs as they scramble to cut costs in response to the downturn. While these layoffs are sure to have a negative impact on those directly affected, there may […]
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In a statement released on March 16, 2023, job search website Indeed announced that it will be laying off about 2,200 employees. This move comes as a result of the company’s need to downsize its operations to better fit the current job market. CEO Chris Hyams explained the decision, stating that “with future job openings […]
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In a major development for small farmers in India, the Walmart Foundation has announced a new five-year strategy aimed at improving the livelihood of at least 10 lakh smallholder farmers, with a particular focus on empowering women farmers. The Foundation will provide grants to non-profit organizations working in collectivization and farm aggregation in several states, […]
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Indian automaker Mahindra and Mahindra Ltd is reportedly in advanced talks with global investors to raise between $1 billion and $1.3 billion to accelerate the expansion of its electric vehicle (EV) unit. According to a report from Mint, the company plans to raise capital by selling shares in its unit, currently valued at over $9.1 […]
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Samsung, the South Korean electronics giant, has announced plans to invest in smart manufacturing capabilities and research and development (R&D) in India. The company’s global head for mobile business, T M Roh, revealed that the investment will be focused on Samsung’s largest mobile phone plant in Noida, with the aim of making production more competitive. […]
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Alphabet, Google’s parent company, announced earlier this year that it would be cutting 12,000 jobs globally. In response to the announcement, some Google employees have written an open letter to CEO Sundar Pichai, demanding a better course of action when it comes to these job cuts. The letter lists out five major demands that employees […]
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In a move that could shake up the Indian video streaming industry, Amazon is reportedly in advanced talks to acquire Times Internet’s MX Player. According to reports, the American e-commerce giant has signed up one of the Big Four accounting firms to conduct exclusive due diligence on MX Player, with the process expected to take […]
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