New Delhi: Meta Founder and CEO Mark Zuckerberg has announced to sack an additional 10,000 employees via several job cut rounds in the coming months. In a Facebook post, Zuckerberg said overall, "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet...
New Delhi: Indian startups have withdrawn up to $300 million from the collapsed Silicon Valley Bank (SVB) after the Joe Biden government in the US allowed depositors to withdraw their funds from March 13, the media reported. The Financial Express reported, citing sources, that homegrown startups have processed fund transfers "worth $250-300 million in the...
Washington: President Joe Biden has underscored that the American banking system remains safe, laying out how his administration is taking action to contain Silicon Valley Bank’s collapse. “Americans can rest assured that our banking system is safe. Your deposits are safe,” Biden said from the Roosevelt Room. “Let me also assure you we will not...
By Parveen Chopra Founder, alotusinthemud.com Hicksville, NY: Four South Asian beauty parlors in Hicksville have closed, and one has been for sale for a year with no takers. Some other salons are also not hopeful of recovery after Covid trimmed their business and thinned their margins. Even as most other stores in the Little India part of...
Chennai: India’s economic slowdown in the fourth quarter of 2022 is temporary and even salutary, Moody's Analytics said in a report. According to Moody's Analytics, the country's economic slowdown late last year will be temporary and even salutary, helping to wring some of the demand-side pressures out of the economy without stopping it wholesale. "On the...
New Delhi: Any participation in transactions involving virtual digital assets or cryptocurrency, would come under the Prevention of Money Laundering Act or PMLA, the Centre has said. This was announced through a gazette notification, issued on March 7. The step has been taken to tighten misuse of digital assets. Government in the gazette has warned investors against...
New York: Federal Reserve Chair Jerome Powell said the US central bank is likely to raise interest rates higher than previously thought and is prepared to speed up the pace of hikes if economic data warrants. “Although inflation has been moderating in recent months, the process of getting inflation back down to 2 percent has...
New Delhi: India and the US are set to hold a formal dialogue on semiconductor cooperation, according to US Secretary of Commerce Gina Raimondo. Speaking at an event in New Delhi, Raimondo outlined Washington’s desire to work closely with partners like India to reduce supply chain vulnerabilities. “On semiconductors, the United States is overly dependent...
Wipro Limited, technology services and consulting company, announced the opening of its Americas Headquarters in East Brunswick, New Jersey, via an exchange filing. The newly renovated East Brunswick office reaffirms Wipro’s ongoing commitment to clients in the Americas region, which makes up nearly 60% of Wipro’s global revenues. Wipro has about 20,500 employees located across US,...
