Facebook Pours Billions in ‘Metaverse’ as Ad Business Falters
On Monday, Facebook Inc said it will start investing in virtual and augmented reality units, an announcement that comes as its primary advertising businesses face ‘significant uncertainty. ‘ Facebook warned that Apple Inc’s new policy rules would weigh on its digital business in the current quarter after the largest social media company reported quarterly revenue…
John David
TCS Revealed, Its Platforms and Product Business is Worth $ 3 Billion
TCS – Tata Consultancy Services says that its Platform and Product (P&P) business is worth approximately $3 billion and comprises about 12-15% of its total revenue. N Ganapathy Subramaniam, Chief Operating Officer of TCS, said- the P&P business is not a separate unit. It continues to function under various verticals, emerging as a huge differentiator…
Reliance New Energy Solar to Buy 40% Stakes in Sterling and Wilson Solar
On Monday, Reliance Industries (RIL) shares hit a new high after Reliance New Energy Solar LTD announced the acquisition of two companies, intensifying its drive into green energy. Nifty rocketed to a new high of 18,000, after gains in index heavyweights RIL and banks. Mukesh Ambani’s conglomerate, RIL made two purchases over the weekend, including…
Mark Zuckerberg Lost Nearly 7 Billion in a Few Hours of Global Outage of Whatsapp, Facebook, and Instagram
Whatsapp, Facebook, and Instagram, three major social media platforms, had their server down for almost six hours on Monday. Facebook and Instagram, with other related products such as Facebook Messenger and Workplace, came back to the actual position after three hours., while Whatsapp remained out of reach. The outage restricted billions of users to use…
Global Stock Markets Falls With the Repercussions Of Evergrande ‘collapse’
The global equity market and the prices of Bitcoin plummeted after China’s Evergrande Group’s Collapse, a Chinese real estate giant. The world’s most indebted property development firm, Evergranade, fears bankruptcy, resulting in 1.6 million unfinished homes and angry buyers protecting outside the company’s office. The global sentiments have been rattled by the real estate firm,…
Mutual Fund SIP Contributes to Set a New Record In August
The investment in the mutual fund continued to surge in August, shows data released from the Association of Mutual funds in India (AMFI). With monthly SIP contributions rising to Rs. 9,923 crore, new SIP registration now reached 25 lakh, the highest number ever. The number of registrations last month was nearly 2.5 times higher than…
India’s MCap Increases By 2x In 18 Months, Escalates To 3.5 Trillion
The strong bull run revives the stress that investors had in late March when global investors were frightened about the economic setbacks due to the Covid-19 pandemic surging to the market. India’s Market Capitalization jumps over 3.5-trillion—almost double from about 1.3-trillion then in March. Several factors contributed to this record-breaking history in the global market,…
Airtel Laden With Massive Debt, Won’t Hang Back From Price Hiking: Sunil Mittal
Bharti Airtel founder and CEO Sunit Mittal stated on Monday that the telecom company has been “laden with extraordinary debt”, and for this reason, the company won’t shrink back from raising tariffs. During an investor call, Mittal also said that he is still favouring the monetisation of assets but at the right time. “Airtel is…
New Scrappage Policy Launched: What Mr. Gadkari Says On It
New Delhi: PM Narendra Modi announced a new scrappage policy on Friday. It is also known as Voluntary Vehicle-Fleet Modernization Program (VVMP). The new scrap policy will bring many new changes across the country, ranging from increased new auto sales to reducing pollution and limiting the road accidents that have been a significant reason for…
Byju’s Acquires US Edtech Company ‘Epic’ for $500 Million
Bangalore | Education technology leader Byju’s has acquired US-based kids learning platform Epic for $500 million. This is not the first time Byju’s has acquired a big education institution. In the past year, the company has acquired WhiteHatJr for $300million and Aakash Educational Services for nearly $1 billion. Byju also acquired US-based Osmo, an education…
