Musk's SpaceX hires a 14-year-old- here's all about Kairan Quazi; Indian companies support over 4 lakh jobs in the US: Antony Blinken; Startups & more
Cyclone Biparjoy LIVE updates | 1 dead, 2 missing after drowning in Juhu Beach sea
One person died and two people are still missing after drowning in the sea at Juhu Beach in Mumbai on Monday evening. High tides have been seen on India's west coast as Cyclone Biparjoy reaches Saurashtra-Kutch in Gujarat. The very severe cyclonic storm will cross near Jakhau Port by Thursday evening, the India Meteorological Department (IMD) says.
Catch live updates on Cyclone Biparjoy here
India's retail inflation drops to 25-month low in May on softer food price; industrial output rises sharply
India's annual retail inflation continued to trend lower in May this year, staying well below the Reserve Bank of India's (RBI) upper tolerance limit for the third consecutive month, driven largely by base effects. The central bank targets an inflation range of 2 percent-6 percent. The CPI inflation was forecast to have fallen to 4.35 percent in May from 4.7 percent in April, according to CNBC-TV18's poll of economists.
Inflation, as measured by the annual change in the consumer price index (CPI), eased to 25-month low of 4.25 percent from 4.7 percent in the previous month, data released by the National Statistics Office (NSO) showing on Monday evening.
India Ideas Summit 2023: Indian companies support over 4 lakh jobs in the US, says Secretary of State Antony Blinken
Indian companies, from IT services to pharmaceuticals have invested over $40 billion in the United States, supporting over 4.25 lakh jobs from California to Georgia, Secretary of State Antony Blinken said.
Blinken addressed the US-India Business Council's India Ideas Summit in Washington D.C.?The annual USIBC summit is part of the US Chambers of Commerce and is being conducted ahead of the upcoming state visit of Prime Minister Narendra Modi to the US on June 22.
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SoftBank layoffs: New round of job cuts likely at Vision Fund unit, says report
SoftBank Group Corp's investment arm Vision Fund unit is planning a fresh round of layoffs that is likely to be announced in the next two weeks, Reuters reported on June 12 citing two people familiar with the development.
The layoffs are likely to affect nearly 30 percent of the workforce at the unit, including staffers in the US, as per the report. According to a Vision Fund report cited by Reuters the company had incurred heavy losses and its headcount stood at 349 at the end of the March 2023 ended quarter.
TeamLease renegotiates associate salary contracts, says margin boost unlikely until IT hiring picks up
Human resource company TeamLease Services has begun renegotiating associate salary contracts to pass on the inflation impact to its customers, the company’s chief financial officer Ramani Dathi said on June 10.
“We have been stuck at the average realisation of Rs 700 per associate per month for a long time and this has impacted our overall margin as well in the last year. So, we have started renegotiating the contracts wherein we can pass on the inflation impact in our associate salaries back to the customers, but we are finding it extremely difficult,” she told CNBC-TV18.
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Honeywell CEO Vimal Kapur sees India business doubling in next 5 years
霍尼韦尔 CEO Vimal Kapur unveiled his bullish outlook on India's evolving economic landscape and highlighted the immense potential for Honeywell's business growth in the country. In an exclusive interview with CNBC-TV18, Kapur emphasised that Honeywell's diverse portfolio is perfectly aligned with India's strategic goals and positioned to capitalise on key sectors experiencing rapid expansion.
"Our portfolio is a perfect fit for where India wants to go at this point in time. Look at what we do and where India wants to go," he said. "I think there's no reason why our domestic business would not double in the next 4-5 years’ time," he added.
CoWIN data breach | Cybersecurity watchdog to probe claims that user information leaked on Telegram
After multiple reports and social media posts have red-flagged a possible security breach of CoWIN vaccination data, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, said that the Indian Computer Emergency Response Team (CERT-In) — India's cybersecurity watchdog — is now looking into the matter.
The reports indicate that a bot on Telegram was churning out personal details based on the registered mobile number.
He added that it does not appear that CoWIN app or database has been directly breached and the data the bot shared seemed to have been from previous breach, the details of which he did not include.
Explained | Why the biggest communities on Reddit have gone dark
More than 6,500 Reddit subreddits out of 7,000+ have announced that they will go private on June 12 in protest over the platform's intentions to charge third-party app developers for access to the site's API (Application Programming Interface). The protest is anticipated to last at least 48 hours, however, some groups have made it clear they plan to remain in the dark longer, reviewing their status at the end of each day.
"Some will return after 48 hours: others will go away?permanently?unless the issue is adequately addressed since many moderators aren't able to put in the work they do with the poor tools available through the official app," a post from the subreddit r/Save3rdPartyApps read.
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Strongly encourage US companies to look at India, says DFC CEO Scott Nathan
The International Development Finance Corporation (DFC) Scott Nathan?"strongly" urged US companies to look at the investment opportunities in India. "We found that, India being the biggest part of our portfolio, it has a huge range of investment and opportunity. I strongly encourage US companies to look at that and to continue to pursue that," he told?CNBC-TV18?at the USIBC's India Ideas Summit 2023.
He said if DFC will also be delighted to support American as well as Indian businesses with its toolsets including lending, equity investment, technical assistance, etc. The USIBC's summit is being held just ahead of Prime Minister Narendra Modi's official visit to the US on June 22.
India Ideas Summit 2023: Indian companies support over 4 lakh jobs in the US, says Secretary of State Antony Blinken
Indian companies, from IT services to pharmaceuticals have invested over $40 billion in the United States, supporting over 4.25 lakh jobs from California to Georgia, Secretary of State Antony Blinken said.
Blinken addressed the US-India Business Council's India Ideas Summit in Washington D.C.?The annual USIBC summit is part of the US Chambers of Commerce and is being conducted ahead of the upcoming state visit of Prime Minister Narendra Modi to the US on June 22.
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Lendingkart sets ambitious goals — expects core business to exceed Rs 6,000 crore in FY24
Lendingkart , a fintech startup that helps lenders evaluate a borrower's creditworthiness and provide other related services, has set itself an ambitious goal for 2023-24 fiscal. Harshvardhan Lunia , the Founder and CEO of Lendingkart Group, is confident that the company's core business will surpass Rs 6,000 crore, a significant leap from the Rs 4,000 crore in disbursements that had it achieved in FY23.
Speaking to?CNBC-TV18, Lunia acknowledges the critical role played by the company in serving the financial needs of micro and small businesses. He states, "...almost 100 percent of our business is priority-sector lending. Since we are catering to one of the critical needs that banks and financial institutions aim to fulfill, our business is growing much faster than many other competitors."
Sports For All aims to empower Indian children for 2036 Olympics
Sports for All's ambitious vision for the future of Indian sports highlights the importance of empowering children and providing them with equitable platforms to unleash their potential. By targeting the 2036 Olympics, the organization aims to inspire and cultivate a new generation of Indian athletes who will proudly represent their nation on the global stage. Through the use of data analytics and collaborative efforts, Sports for All seeks to create a sustainable ecosystem that will propel Indian sports to new heights.
Elon Musk's SpaceX hires a 14-year-old — here is all about Kairan Quazi
Remember Sheldon Cooper from The Big Bang Theory who went to college at the age of 11? Well, the real world now has its own Sheldon Cooper. Elon Musk’s SpaceX is getting a new employee who is just 14 years old.
The child prodigy Kairan Quazi will be joining the company’s Starlink engineering team. Quazi will graduate from Santa Clara University's School of Engineering this month, becoming the youngest person to do so. With this, he will also become SpaceX's youngest employee.
The 14-year-old recently took to LinkedIn and said “Next stop: SpaceX! I will be joining the coolest company on the planet as a Software Engineer on the Starlink engineering team. One of the rare companies that did not use my age as an arbitrary and outdated proxy for maturity and ability.”
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