Microsoft layoffs likely to begin today; Davos 2023- Raghuram Rajan highlights issue of overinvestment in chips; Byju's IPO; Startup coverage & more

Budget 2023 may see reduction in income tax rates — more reliefs likely for the middle class

The government is likely to lower #incometax rates and introduce revised slabs for salaried individuals in its upcoming Budget 2023 due on February 1, reported?CNBC Aawaz.

At the same time, the middle class can hope for many more reliefs. According to the report, there is a special emphasis on the middle class in the meetings being held on the budget among the officers.

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#TechTalks??

Microsoft layoffs likely to begin today, thousands of employees across divisions to be affected: Reports

Software giant 微软 is likely to lay off thousands of employees across human resources and engineering divisions, according to multiple media reports on Tuesday. The latest layoffs shall come after Microsoft cut nearly 1,000 jobs in July 2022.

It had then said, "Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities regularly and make structural adjustments accordingly,"

adding that it would continue to invest in the business and grow its headcount overall in the year ahead.

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ChatGPT — You might be charged for using the AI very soon

AI-research organisation OpenAI gave feelers for pricing ChatGPT very soon. With Microsoft now interested in owning a major chunk of the company, the product is sure to be expected to generate some revenue with the massive response that it has received.?

Greg Brockman, President and Co-Founder of OpenAI, said recently, "Working on a professional version of ChatGPT; will offer higher limits and faster performance”. The monetised version of ChatGPT will be called?ChatGPT Professional.

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Apple unveils new Mac mini with M2 and M2 Pro chips — check prices, discounts

苹果 on Tuesday, January 17, unveiled the new Mac mini lineup, which will be powered by the new M2 and M2 Pro chips. The M2 Mac mini is now available at a new price of $599, while the M2 Mac Pro will start at $1299. Additionally, Apple is also offering schools and students a $100 education discount for this range.

"Mac mini with M2 and M2 Pro delivers faster performance, even more unified memory, and advanced connectivity, including support for up to two displays on the M2 model, and up to three displays on the M2 Pro model," the comapny said in a statement.

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#Davos2023 ??

Paytm’s Vijay Shekhar Sharma says didn’t know Alibaba sold stake till it was disclosed to markets

Indian digital payments and financial services company Paytm founder Vijay Shekhar Sharma on Tuesday said that 阿里巴巴集团 was never a strategic shareholder in the company. This comes days after the Chinese e-commerce behemoth sold its shares in the Indian fintech business worth $125 million.

Sharma said in an exclusive interview with Shereen Bhan of?CNBC-TV18?that the sale could have been arranged better and that the corporation was not made aware of it in advance. "We did not know Alibaba had sold stake till it was disclosed to the market," he informed.

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Raghuram Rajan highlights problem of overinvestment in chips

Noted global economist and former governor of the Reserve Bank of India (RBI) Raghuram Rajan has observed a lack of trust among countries that has led to overinvestment in chip-making as it is critical to national security. He said this in an interview with?CNBC-TV18’s?Shereen Bhan at the World Economic Forum meet at Davos, Switzerland.

“Every country worth its name is trying to build chips today. It is not just the US, not just Europe, India is trying to build chips, others are trying to build chips. What this means down the line, we have a glut of chips. But a tremendous amount of investment has gone into chip making and the world doesn’t need so many chips,” he said.

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BYJU's CEO says may look at parent company IPO once macros improve

Education technology startup BYJU'S is looking to go public in the near future, according to the company's CEO, Byju Raveendran . Speaking to CNBC-TV18, Raveendran stated that Byju's is waiting for macroeconomic conditions to improve before moving forward with the parent company's initial public offering (IPO).

However, the CEO also mentioned that Byju's has six strong businesses and is exploring all options.

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#Indepth ?

The richest 1 percent in India control over 40 percent of the country's total wealth, revealed a new report by Oxfam. The wealth of India's richest 10 men alone stood at $335.7 billion in 2022.

#NationalAffairs ??

Why are farmers protesting in various states of India?

More than a year after protests by farmers against the three controversial farm laws ended following promise of reform and assurance by the government that their demands would be met, farmers are still protesting in various parts of the country.

Farmers in Delhi are demanding improvement of their #condition, whereas farmers in Bihar’s Buxar are protesting against a local power plant. Protests by #farmers are also on in other states like Haryana, Punjab, Maharashtra, and Karnataka.

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Delhi's minimum temperature likely to settle at 3°C, yellow and orange alert issued in other states

As Delhi continues to shiver under the extreme cold wave condition for the third consecutive day on Wednesday, the India Meteorological Department (IMD) has issued yellow and orange warnings in most of parts of the Northwest India.

The minimum temperature in Delhi is likely to hover around 3 degrees Celsius today, according to?India Meteorological Department (IMD). The minimum temperature in Lodhi Road area in the national capital?had settled at 2 degrees Celsius?on Tuesday.

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#StartupDigest ????

Startups seek higher allocation from finance minister Nirmala Sitharaman

The union budget is less than two weeks away and startups across industries are hoping for higher allocation.?CNBC-TV18's Abhimanyu Sharma spoke to founders of various startups on their budget wishlist.

Yogesh Sharma , Co founder Indigenous Energy Storage Private Ltd said, "The government has given PLI scheme to manufacture batteries, but there is no scheme that will give funds directly to deep tech from the PLI scheme because the scheme has set some standards, where you need to have 1 gigawatt-hour factory and that requires a huge amount of funds. So only the big companies can take part. However, being a startup, some part from the PLI scheme should be given to startups that are new in the market.”

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D2C brand WOW Skin Science joins the ONDC network

WOW Skin Science , a D2C and personal care brand, has joined Open Network for Digital Commerce (ONDC), an initiative of the government to democratise e-commerce in India.

WOW Skin Science will be open to buyers from all ONDC seller apps, thus expanding the horizon of the brand’s presence, the company said in a statement

Groyyo appoints ex-ThreadSol executive Abhishek Shrivastava as CTO

B2B manufacturing and automation startup Groyyo has appointed former co-founder and CTO of ThreadSol , Abhishek Srivastava as its chief technology officer (CTO).

Under his leadership, the company intends to transform its technology team to further develop its tech stack to fulfil its mission of digitising over 20 million SME manufacturers across Asia. The Saas firm also plans to invest about $5 million in technology development over the next year and a half in-line with this appointment, it added.

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