Amazon × ICICI Bank
E-commerce giant Amazon is on the lookout for new banks to partner with as it seeks to expand its credit card offerings. A senior Amazon official told the ET that the decision is backed by the high growth the firm is witnessing in the segment. The firm has a tie-up with ICICI Bank currently for a co-branded credit card for which over 42 lakh credit cards have been issued till June 2023.
Landmark Ruling: Bombay High Court Backs Akasa Air in Pilot Dispute
The Bombay High Court ruled in favor of Akasa Air, allowing them to pursue legal action against 5 pilots who resigned without notice, seeking Rs 21 crore in compensation. The Delhi High Court clarified that the DGCA can take action against non-compliant pilots, contradicting its earlier stance. While over 40 pilots breached notice periods, the reason for targeting these 5 is unclear. The pilots argued against the Mumbai venue for the lawsuit as it's not their residence. This ruling marks a potential shift in DGCA's authority in pilot-employer disputes and sets a precedent for contractual compliance in the aviation industry.
Book your Flight Tickets from AirIndia
Byju’s Announces Mass Layoffs Amid Financial Struggles and Leadership Change
Bengaluru-based edtech firm Byju’s plans to lay off 4,000 employees, about 11% of its workforce, in a mass restructuring due to funding issues, valuation markdown, and lender disputes. Arjun Mohan, the new CEO of Byju’s India, is overseeing these cuts. The layoffs will affect various functions and are part of efforts to address a liquidity crisis, including selling subsidiaries like Great Learning and raising external funds. Byju's has previously undergone job cuts and is seeking to repay a $1.2 billion term loan B to resolve its financial challenges.
Big Billion Day is here from Flipkart! Order Now
Doceree Raises $35M in Series B Funding to Expand Healthcare Professional Communication Platforms
Healthtech firm Doceree, known for its physician-only programmatic messaging platforms, has secured $35 million in a Series B funding round led by Creagis, with participation from existing investors Eight Roads Ventures and F-Prime Capital. The funds will fuel product development and global expansion, enhancing communication with healthcare professionals. Based in New Jersey, Doceree was founded in 2019 to improve physician engagement and healthcare marketing efficiency. With a presence in the US, India, Europe, Africa, Southeast Asia, and the Gulf Cooperation Council, it serves pharmaceutical companies, life sciences firms, and healthcare media agencies.
Order Medicines Online from 1mg
Worldline Strengthens Presence in Indian Payments Market, Targets Domestic Competitors
France-based payment firm Worldline is taking a more aggressive approach in the Indian market to compete with domestic rivals like Paytm, Pine Labs, and Razorpay-backed Ezetap. Worldline, known for deploying PoS terminals for card payments, plans to acquire its own online payment gateway merchants and expand its offline retail merchant network. The company is also deploying Android terminals called the One Merchant Hub, offering various services to merchants. Worldline aims to cater to the demand for omnichannel payment solutions in India's growing market, with UPI transactions seeing a 62% increase in H1 2023 compared to the previous year.
For faster and rewarding UPI Payments use CRED UPI with the link below 👇🏻 for rewards upto ₹1,000
Pegatron Factory Fire Disrupts iPhone Production
Pegatron India, an iPhone assembler, revealed that a factory fire disrupting production for three days resulted from an employee leaving an electrical switch on, causing a short circuit. Firefighters were called to control the blaze, which damaged around six machines. Workers had charged device batteries up to 50% before software installation, and the unchecked switch caused the fire. Pegatron assured that the incident had no significant financial impact and that there were no injuries. The plant, with around 8,000 employees, assembles older iPhone models, contributing to 10% of Apple's production in India, manufacturing approximately 5 million phones annually.
Order iPhone Online through iPhone Store 📦
%20(2).jpeg)
%20(2).jpeg)
%20(2).png)
%20(2).png)
Post a Comment