British billionaire Richard Branson’s satellite launch company Virgin Orbit has filed for bankruptcy after it failed to secure long-term funding required to recover from a rocket launch failure in January.…
Author: Admin
Haj pilgrimage 2023: Govt to issue forex card, mandatory insurance to pilgrims this year
The government has made special arrangements to provide forex facilities and mandatory insurance to Haj pilgrims this year. The forex services will be provided by the State Bank of India…
Vedanta’s Ajay Goel likely to join Byju’s as CFO: Report
Former Vedanta deputy CFO Ajay Goel is likely to join edtech startup Byju’s as its chief financial officer, Economic Times reported on Monday. Goel worked for more than two years…
Higher tax collections bode well for FY23 fiscal deficit
The central government is on course to come close to the fiscal deficit target of 6.4 per cent for the recently concluded fiscal year, finance ministry sources have told Business…
Zoho CEO Sridhar Vembu, others compare AI to nuclear weapons, cloning
Sridhar Vembu, the CEO and co-founder of Zoho, compared the progress in artificial intelligence to nuclear weapons, cloning, etc, and has called for “no further” development in the field until…
Cyient reorganizes executive leadership before quarterly results
Cyient, an Indian IT and tech company, announced a change in executive leadership on Monday. In a release, the company announced that the board of directors appointed Krishna Bodanapu as…
Tech layoffs: IBM spinoff Kyndryl eliminates marketing, admin, HR roles in India
IBM spinoff Kyndryl is the latest tech company to cut jobs in India. Sources told Business Today that the company will be paying 2-month pay in severance to laid-off employees.…
Swiggy CTO Dale Vaz resigns; Madhusudhan Rao to replace him: Report
Dale Vaz, the chief technology officer of Swiggy, has reportedly resigned from the company after about five years. Madhusudhan Rao, who has been with the company for over four years,…
Manufacturing PMI hits 3-month high; increases to 56.4 in March from February’s 55.3
India’s manufacturing PMI increased from 55.3 in February to 56.4 in March, the strongest growth in three months, according to S&P Global India Manufacturing Purchasing Managers’ Index. The report said…
‘Nobody shed tears for those…’: Aswath Damodaran points to misplaced sympathy for new-age tech firms
Valuation guru Aswath Damodaran told Business Today recently that he’s of that opinion that “young companies” shouldn’t be getting bank debt and that no one should “shed tears” for companies…