Infosys has announced an average performance bonus of 90% for Q2 FY25 for eligible employees up to mid-level roles (E6 and below). This payout, higher than the 80% bonus for Q1, will be credited with November salaries. The decision follows a strong Q2 performance, with a 4.7% year-on-year profit growth, driven by demand recovery and…
Summary: Renowned entrepreneur Elon Musk congratulated Prime Minister-elect Narendra Modi for the NDA’s victory in the Lok Sabha elections, expressing anticipation for his companies’ endeavors in India. Musk’s tweet came three days after the election results, praising Modi’s win in the world’s largest democratic elections. While BJP fell short of a majority, the NDA alliance…
Summary: Salil Parekh, CEO of Infosys, received a 17.3% pay increase, bringing his total compensation to ₹662.4 million ($7.9 million) in fiscal year 2024, making him one of the highest-paid IT chiefs in India. His salary included ₹74.7 million in fixed pay, ₹197.5 million in bonuses, and ₹390.3 million from stock options exercised. Despite this,…
Summary: Nisaba Godrej, executive chairperson of Godrej Consumer, has resigned from the board of VIP Industries due to disagreements over leadership accountability and succession planning. Her resignation, effective June 3, 2024, was announced via a stock exchange filing. Despite attending all board meetings in the fiscal year 2023, she chose to waive her sitting fees….
Summary: Shares of Adani Group companies surged, driving the Sensex and Nifty to record closing highs. The Sensex rose by 1,618 points to 76,693, and the Nifty increased by 468 points to 23,290. This market rally was bolstered by the Reserve Bank of India (RBI) revising the GDP growth projection for 2024-25 upwards to 7.2…
Summary: Byju’s, once valued at $22 billion, is now considered worthless according to a recent HSBC research note. HSBC assigned zero value to Prosus’ nearly 10 percent stake in the company due to multiple legal issues and financial struggles. Byju’s is facing significant financial challenges, including difficulties in paying employee salaries. Last year, Byju’s planned…
Spotify Announces Global Workforce Reduction and Upcoming CFO Transition In a significant move, Spotify is planning to cut approximately 1,500 jobs, representing 17% of its global workforce, in its third round of layoffs this year. The decision comes as the streaming giant undergoes a strategic reevaluation to ensure operational efficiency and sustained growth. CEO Daniel…
AMD’s largest design centre in India proves global firms’ confidence in us IT Minister IT Minister regarding AMD’s largest design center in India. However, I can provide general context based on the information available up to that point. If the statement is accurate, it suggests that Advanced Micro Devices (AMD), a global semiconductor company, has…
Google Drive Users Experience Missing Files Company Initiates Investigation In a recent development, Google Drive users have reported incidents of missing files, prompting concerns and frustration among the user base. The cloud storage service, widely used for document management and collaboration, is currently under investigation by Google as users seek answers regarding the disappearance of…
H&M Group Pioneers Collaborative Financing for Meaningful Climate Action In a groundbreaking move toward sustainable business practices, H&M Group has launched a pioneering initiative to promote collaborative financing solutions focused on impactful climate action. The global fashion retailer aims to lead the industry in addressing environmental challenges by fostering partnerships that contribute to measurable and…
