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Business

Video Game developer Riot Games slashes 530 jobs

San Francisco, Jan 23 (IANS) Video game developer Riot Games has announced to eliminate about 530 roles globally, which represents around 11 per cent of its workforce, with the biggest impact to teams outside of core development. The Tencent-owned company said that it is refocusing on fewer, high-impact projects to move it toward a more sustainable…
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Business

Now TikTok lays off employees to reduce costs

San Francisco, Jan 23 (IANS) Chinese short-video making app TikTok has joined the Big Tech layoffs, asking a certain number of employees to go to reduce costs.The job cuts happened mostly in the sales and advertising division, according to…
Business

Zee’s stock valuation will likely de-rate: CLSA

New Delhi, Jan 22 (IANS) Zee Entertainment’s (Zee) proposed merger with Sony after required regulatory and shareholder approvals has been called off.With the merger terminated, Zee’s valuation will likely decline to 12x PE levels (Aug-21)…
Business

Worst start to a year for Chinese stocks since 2016

London, Jan 22 (IANS) China’s stock market had a rough 2023 and the rout has accelerated in the first few weeks of the New Year, after Beijing dashed hopes that it might do more to support the struggling economy, a media report said.Hong…
Business

Udaan Group CFO quits amid senior-level rejig

New Delhi, Jan 22 (IANS) Homegrown B2B e-commerce platform Udaan has seen another top-level exit as its Group Chief Financial Officer (CFO) Aditya Pande who has decided to pursue opportunities outside of the company after three years. The…