Approximately 12,500 people, or 10% of Dell Technologies’ global workforce, will be let go in a major reorganisation announcement. This choice is part of a significant organisational restructuring intended to modernise processes and put a greater emphasis on artificial intelligence (AI). A report by Business Insider states that the business announced its plans to centralise […]
In a landmark decision, the DGGI Ahmedabad unit has sent a show cause notice to Binance inciting its payment of ₹722 crores under GST which is the world’s largest cryptocurrency exchange. This unimaginable move shows that India is becoming more and more serious about regulating the fast-growing virtual currency market, which means that foreign service […]
A US judge has determined in a precedent-setting ruling that Google has unlawfully maintained a monopoly over the search engine business by entering into exclusive agreements with online browsers and phone makers. In its first substantial antitrust action against a computer company in more than 20 years, the Department of Justice (DOJ) has won with […]
Indian stock markets experienced a dramatic downturn on Monday, with the Sensex plummeting by 2,222.55 points to close at 78,759. The Nifty also took a significant hit, falling by 662 points to settle at 24,055. This steep decline represents a loss of over Rs 15 lakh crore in investor wealth in a single day. The […]
The enormous Rs 32,403 crore GST notice that the Karnataka GST authorities had sent to the IT behemoth Infosys has been rescinded, which is a noteworthy step. The notification said that Infosys owed this sum for services obtained from its foreign operations between July 2017 and March 2022. It had generated a great deal of […]
In an unprecedented restructuring, Intel Corporation has shed around 15,000 employees, which makes up 15% of its entire workforce. According to a message sent out to peers by CEO Pat Gelsinger, this move is part of a broader strategy aiming to realize savings of $10 billion by the year 2025. In his statement, Gelsinger acknowledged […]
With Finance Minister Nirmala Sitharaman announcing a major reduction in customs duty on cancer drugs and mobile phones, it is set to considerably bring down their prices in the market. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab.The Finance Minister also announced a reduction of customs duty on mobile phones and mobile chargers […]
The NCLT Bench of Bengaluru has issued permission to the Board of Control for Cricket in India(BCCI) to move bankruptcy against the financially troubled Ed-tech behemoth Byju’s. It is happening amidst a controversy over the alleged remaining of the ₹158 crore sponsorship obligations in underpayment. The BCCI had already filed a case against Byju’s parent […]
This week, an interesting twist occurred in the ongoing feud between Hindenburg Research and the Adani Group. Hindenburg accused Kotak Mahindra Bank, a major Indian lender, of having links with an offshore fund as its response to a show-cause notice from Securities and Exchange Board of India (Sebi). In 2023, Hindenburg accused Adani Group of […]
Tata Steel UK and its employees’ union Unite have been clashing over a possible strike and the shutdown of blast furnaces in Port Talbot in Wales. The standoff got worse when Tata Steel decided to go to court against the union’s call for strike. Unite Calls for Strike, Tata Steel Threatens Early Shutdown Unite announced […]