 "Cisco’s dramatic layoffs of 5,600 employees highlight a tumultuous industry shift towards AI and restructuring for future growth.")
Cisco, a major US technology company, has announced significant job cuts, laying off around 5,600 employees, which is about 7 percent of its workforce. This comes as part of its strategy to manage costs amid decreasing demand, following earlier layoffs of 4,000 workers earlier in the year. The company is shifting its focus towards investments ...
 "IIFL Finance, a key non-bank lender, regains RBI approval for gold loans, overcoming scrutiny to restore vital business operations.")
IIFL Finance, a leading non-bank lender, recently announced that the Reserve Bank of India (RBI) has lifted restrictions on its gold loan operations. These limitations were imposed in March 2024 due to concerns about the accuracy of gold evaluations and compliance with regulations. With the RBI’s decision now effective, IIFL Finance can resume its activities ...
 "Samsung’s Indian unit escalates tensions, suing striking workers for higher wages, while protests threaten Prime Minister Modi’s investment plans.")
Samsung’s Indian unit has filed a lawsuit against the members of a labor union behind a strike now entering its 11th day at its appliance plant in Tamil Nadu. The company is seeking a temporary injunction to stop union activities that they claim could disrupt operations and threaten worker safety. Since September 9, over 1,000 ...
 "Binance denies liability for WazirX’s recent cyber attack, citing lack of ownership and distancing itself from the compromised platform.")
Binance, the global cryptocurrency leader, has clarified its lack of responsibility regarding the recent cyber attack on the Indian crypto exchange WazirX. In a blog post, Binance asserted that it does not own or operate WazirX, despite previous claims of an acquisition. The attack, which resulted in the theft of over $230 million, led WazirX ...
 "Fed’s rate cut may have muted effects in India, as markets adjusted preemptively, with mixed global economic signals ahead.")
V Anantha Nageswaran, Chief Economic Advisor, recently discussed the effects of the US Federal Reserve’s rate cut on the Indian economy. He noted that the cut, which lowered the federal funds rate range by 50 basis points, might have a limited impact on India as much of it was anticipated. Economic Affairs Secretary Ajay Seth ...
 "Morgan Stanley’s record 1.1 million square feet lease in Mumbai signifies a major shift in India’s commercial real estate landscape.")
Morgan Stanley has made a significant move in the Indian commercial real estate Market by leasing 1.1 million square feet of office space in Goregaon, Mumbai. This nearly 10-year lease, valued at over Rs 2,122 crore, is one of the largest office deals in India for 2024. The bank has rented 16 floors of the ...
 "Top private equity firms, led by India-based executives, pivot towards India amid declining opportunities in China and Southeast Asia.")
Leading private equity firms like Blackstone and KKR are increasingly focusing on India, driven by a surge in significant transactions. Senior leaders are now based in the country to oversee regional investments. For example, Amit Dixit, who heads Blackstone’s Asia operations, has extensive experience in South Asia. KKR recently appointed Gaurav Trehan as Co-Head of ...
 "Tragic death of auditor Anna Perayil sparks investigation into exploitative work conditions at EY India, highlighting disturbing corporate culture concerns.")
The Indian government has launched a detailed investigation into the allegations made by Anna Sebastian Perayil’s mother regarding an exploitative work environment at EY India. Anna, a member of the audit team in Pune, tragically passed away in July. Her mother, Anita Augustine, claimed that the intense work stress contributed to her death. Minister of ...
 "Hero MotoCorp plans to launch VIDA V1 electric scooters in Europe, seizing opportunities amid changing trade dynamics and growing EV demand.")
Hero MotoCorp is poised to expand into developed markets, launching its VIDA V1 electric scooters in the UK, France, and Spain by mid-2025. This marks the company’s first entry into these European regions, aiming to meet the increasing demand for electric vehicles. The launch aligns with ongoing discussions for a free trade agreement between India ...
 "Bengaluru’s wealthy elite surges, with a forecasted 150% increase in centi-millionaires, igniting a battle for resources amid dramatic growth.")
Bengaluru is witnessing an impressive surge in its ultra-wealthy population, expecting a 150 percent increase in centi-millionaires over the next 16 years. Currently, the city boasts about 13,200 millionaires with a total investable wealth of Rs 800 crore. This growth reflects a trend seen globally, where the centi-millionaire population has surged by 54 percent in ...
