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Gojek lays off 9% workforce due to rising COVID-19 challenges
Gojek is reportedly laying off nearly 9% of its workforce, i.e. 430 employees due to the rising challenges posed by the coronavirus pandemic. The layoff plan will help the company prioritize on its core businesses of food delivery, transport, and payments. These three core services as well as the... Read More
CBA refuses to accept penalty claims after alleged 390,000 breaches
Australian banking major Commonwealth Bank has reportedly refused that it is facing penalties that could expand into billions of dollars post accusation of 390,000 breaches through superannuation sales. The Australian Securities and Investments Commission has alleged that CBA had secured $22 million... Read More
London City Airport reopens as Britain plans to emerge from lockdown
London City Airport, an international airport in England, has recently reopened and approved the arrival of a small turboprop airplane from the Isle of Man. This happened in line with the country’s gradual emergence from the COVID-19 lockdown imposed in the region for nearly 3 months. Britain ... Read More
As Russians exit WA, BHP buys tenement package from Norilsk Nickel
Melbourne based mining major BHP has reportedly announced that it has purchased a tenement package from Norilsk Nickel, a Russian company, thereby enhancing its nickel footprint in the Western Australian region. As per terms of the deal, BHP gains control over the Honeymoon Well project in addition ... Read More
CCI reviewing $5.7B investment signed by Facebook in Reliance Jio
The CCI (Competition Commission of India) is reportedly reviewing the $5.7 billion investment made by Facebook, a social networking company, in Reliance Jio Platforms. This investment was made with an aim to enable the social networking service to make inroads into several shops in India. Sources... Read More
GWM inks MoU with Maharashtra Government to set up production plant
Great Wall Motor (GWM), a Chinese automobile manufacturer, has reportedly signed an MoU (memorandum of understanding) with the government of Maharashtra. This MoU has been signed by the company to set up a manufacturing facility in the state. The manufacturing plant was acquired by GWM from Gener... Read More
Clix Capital to acquire Lakshmi Vilas Bank through a merger agreement
Clix Capital, an AION backed non-bank lender, has reportedly shown its preliminary interest to procure Lakshmi Vilas Bank. In a latest stock exchange filing, the private sector bank stated that it has already inked a non-binding intent letter regarding a proposed amalgamation of the bank with Clix C... Read More
Bicycle sales surge with increasing limits levied on public transport
Countries across the globe have reportedly registered a sharp increase in the sale of bicycles owing to the curtailed public transport amid coronavirus lockdown. Sources cite that even bicycles with big vendors like Target and Walmart have been sold out and individual shops are doing a brisk busines... Read More
Reliance Industries eyeing another ₹5,000-10,000 cr for Jio Platforms
From the past two months, Reliance Industries’ Jio Platforms Limited, India’s leading digital service platform, has been luring investors across the world. After raising a mammoth amount from numerous investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR... Read More
MOF and IRAS announce $450M wage credits payouts for 95K employers
The MOF (Ministry of Finance) and IRAS (Inland Revenue Authority of Singapore) have recently announced wage credits payouts of nearly $450 million for more than 95,000 employers. The employers will receive these payouts by 30th June. Under these payouts, the Singapore government will co-fund 20% ... Read More