Elon Musk denies report of terminating Twitter staff to avoid payouts

Elon Musk denies report of terminating Twitter staff to avoid payouts
Twitter Inc.s new owner Elon Musk has reportedly denied striking off Twitter staff before 1st November 2022, in order to dodge stock grants that were due on that day. Additionally, when a Twitter user asked about the layoffs, Tesla's CEO claimed the speculations to be untrue. Sources stated that Musk has ordered job cuts across the organization, with certain teams to be reduced more severely than others. Notably, layoffs would occur bef

Ford Fiesta model to be axed by 2023 due to rising preference for SUVs

Ford Fiesta model to be axed by 2023 due to rising preference for SUVs
Ford Motor Companys crowd-pleasing Ford Fiesta is reportedly set to be phased out by mid-2023 due to rising part prices and a shift in consumer preference toward SUVs. The automobile behemoth has no intention of producing an electric version of the vehicle, despite its popularity. According to a Ford spokesperson, the company is revising its lineup of vehicles as it accelerates its efforts to go all in on electrification. He added that furt

India levies USD 162 Mn fine on Google for anti-competitive behavior

India levies USD 162 Mn fine on Google for anti-competitive behavior
Google LLC reportedly received a USD 161.9 million fine from Indias competition watchdog for engaging in anti-competitive behavior with respect to Android mobile devices in multiple markets. This is a significant setback for the search engine giant in the important foreign market where it has invested billions of dollars over the past ten years. The Competition Commission of India (CCI) started looking into Google 3.5 years ago, a

Lafarge pleads guilty to supporting Islamic State, to pay USD 778 Mn

Lafarge pleads guilty to supporting Islamic State, to pay USD 778 Mn
French cement manufacturer, Lafarge reportedly pleaded guilty to a U.S. claim that it had offered money to organizations that the country had labeled as terrorist groups, including the Islamic State. For the first time in American history, a firm admitted guilt in federal court in Brooklyn to allegations of giving material support to a terrorist group. As part of the plea bargain, Lafarge, which joined Swiss-listed Holcim in 2015, committed to f

Flipkart presents virtual metaverse shopping experience with Flipverse

Flipkart presents virtual metaverse shopping experience with Flipverse
The Indian e-commerce company, Flipkart has reportedly launched Flipverse, a metaverse-based shopping platform that will allow users to find and shop for products in an engaging manner. The domestic e-tailer has already signed on with more than 15 brands, including sportswear firm Puma, personal care & cosmetics company Nivea, and domestic electronics company Noise, to debut and display almost 100 products on Flipverse. This is the first tim

FAA authorizes Apple AirTags on checked baggage as Lufthansa backs off

FAA authorizes Apple AirTags on checked baggage as Lufthansa backs off
Any item tracker with a lithium battery containing less than 0.3g is permitted to fly Both the airline and German officials have ruled that item trackers with small batteries and minimal power do not represent a safety issue The Federal Aviation Administration (FAA) has reportedly authorized the use of Apple AirTags on checked baggage. For those unaware, any item tracker with a lithium battery containing less than 0.3g is permitted to fly. H

Amazon swaps ride for prototype web satellites launch in early 2023

Amazon swaps ride for prototype web satellites launch in early 2023
Amazon.com Inc. will reportedly launch the first two prototype satellites for a proposed internet-from-space network in early 2023 utilizing a new rocket from the Boeing-Lockheed partnership with United Launch Alliance LLC. The two Amazon satellites were originally scheduled to launch by the end of this year; however, Amazon was compelled to fly as a backup payload on ULAs new Vulcan rocket due to delays in rocket building with launch start

Quess Corp divests stake in subsidiary Simpliance for USD 14.6 Mn

Quess Corp divests stake in subsidiary Simpliance for USD 14.6 Mn
The provider of HR compliance services Quess Corp Limited is expected to divest its entire stake in Simpliance Technologies Private Limited, a provider of digital risk and compliance services, to Aparajitha Corporate Services, an HR compliance services provider, and its affiliates. On a cash and debt-free basis, the deal is estimated to have an enterprise value of around USD 14.58 million, pending closing adjustments and the fulfillment of

SoftBank to lay off 150 employees worldwide, including Vision Fund unit

SoftBank to lay off 150 employees worldwide, including Vision Fund unit
SoftBank Group Corporation of Japan is reportedly laying off 150 employees worldwide at both its Vision Fund division and SoftBank Group International, as CEO Masayoshi Son cuts back after suffering a significant loss on his tech bets. Sources claim that employees are receiving notices, which will affect approximately 30% of staff across the two organizations. Moreover, major cost centers including the United States, Britain, and China are