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Business & economy, industries, companies, technologies and MNCs – News

Palo Alto CEO Nikesh Arora becomes a rare non-founder billionaire

Jan 3, 2024

San Francisco, Jan 3 (IANS) Nikesh Arora, a SoftBank veteran and now the CEO of cybersecurity company Palo Alto Networks, has entered the billionaires’ club after a hefty paycheck he received from the firm.He had received a $125 million stock and options compensation package from Palo Alto when he was hired in 2018.Since then, the company’s share…

AI will be at the forefront of smartphone tech transformation: Industry

Jan 3, 2024

New Delhi, Jan 3 (IANS) Artificial Intelligence (AI) will significantly transform the IT and technology sector, including upcoming smartphones, in India and will play a crucial role in enhancing battery life, improving camera quality and…

Business

Domestic funds who have been consistent buyers are booking profits

Jan 3, 2024

New Delhi, Jan 3 (IANS) Market has turned highly volatile with profit booking triggered by high valuations and even DIIs who have been consistent buyers are booking profits, says V.K. Vijayakumar, Chief Investment Strategist at Geojit…

Business

Startup Frontdesk lays off entire staff over 2-minute ‘Google Meet call’

Jan 3, 2024

San Francisco, Jan 3 (IANS) Online rental platform Frontdesk has become the first tech startup to lay off employees in 2024 -- its entire 200-person workforce -- during a “two-minute Google Meet call”.The layoffs included full-time,…

Business

Samsung to unveil flagship Galaxy S24 series in heart of Silicon Valley

Jan 3, 2024

San Francisco, Jan 3 (IANS) Samsung on Wednesday announced to launch its next flagship Galaxy S24 series, powered by AI, during the ‘Unpacked’ event in the heart of Silicon Valley in the US this month.The Galaxy S24 series launch will…

Business

US and global economy may face major challenges in 2024

Jan 3, 2024

Washington, Jan 2 (IANS) The US and the global economy may face major challenges in 2024 though they have proved to be surprisingly resilient in the past year. However, the strains of wars, still-elevated inflation and continued high…

Business

Sharp outperformance of small and midcaps in 2023 makes valuations a challenge

Jan 3, 2024

New Delhi, Jan 2 (IANS) The sharp outperformance of small and midcaps in 2023 has led to valuations becoming a challenge now, foreign brokerage Jefferies said in a report.At 27x 1-year fwd PE, the Nifty Midcap100 index trades at 35 per cent…

Business

Tesla delivers 1.81 mn cars in 2023, stays behind China’s BYD

Jan 3, 2024

San Francisco, Jan 2 (IANS) Elon Musk-run electric vehicle (EV) company Tesla on Tuesday said it delivered 1.81 million cars in 2023, which is a 38 per cent growth (year-on-year).In the fourth quarter (Q4) of 2023, the company produced…

Business

Vedanta, Gujarat Alkalies to jointly explore opportunities in caustic-chlorine businesses

Jan 2, 2024

Chennai, Jan 2 (IANS) Vedanta Ltd and Gujarat Alkalies and Chemicals Ltd (GACL) have inked a Memorandum of Understanding (MoU) to explore business opportunities in caustic-chlorine and allied businesses.In a regulatory filing, the two…

Business

RBI issues draft norms for dividend declaration by banks

Jan 2, 2024

Mumbai, Dec 2 (IANS) The Reserve Bank of India (RBI) on Tuesday came out with draft norms on declaration of dividend by banks and remittance of profits to head office by foreign bank branches in India.The RBI circular explains the detailed…

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