Tech & Internet
Softbank exits Paytm at loss of around USD 150 million
Softbank held around 18.5 per cent stake in Paytm before the company's initial public offering (IPO) in 2021. It held a 17.3 per cent stake through SVF India Holdings (Cayman) Ltd and 1.2 per cent through SVF Panther (Cayman) Ltd.
Tier I cities dominate in blue-collar gig job opportunities: Report
A recent report by WorkIndia highlights the growing impact of the gig economy in India's urban landscape. Tier-I cities dominated short-term blue-collar job opportunities, accounting for 67.1% of openings from June 2023 to June 2024, with Delhi leading at 17.7% and Mumbai at 16.57%. Tier-II cities followed with 26% of job openings, while tier-III cities faced higher competition despite 11% of applications. Back-office roles were most in demand, comprising 34.5% of jobs, reflecting a shift towards digital skills in roles like online marketing, marking a significant trend in workforce dynamics.
SoftBank's stake in Paytm slips below 1%
Paytm parent One 97 Communications has reported that domestic investors and mutual funds have upped their holding in the company, in the first quarter of FY25. Retail investors grew their stake by 1.3% in the quarter, while mutual funds upped their holding by 0.65%.
How Microsoft's Satya Nadella became tech's steely-eyed AI gambler
Nadella, Microsoft's CEO, had his eyes on a Silicon Valley startup called Inflection AI. The company's CEO, Mustafa Suleyman, was one of the founders of the pioneering artificial intelligence company DeepMind.
Meta to roll back some restrictions on Trump's Facebook, Instagram accounts
The social media company indefinitely suspended Trump's accounts following his praise of people who stormed the U.S. Capitol on Jan. 6, 2021. The company then reinstated his accounts in early 2023, saying it would monitor Trump's posts for further violations that could result in another suspension of between one month and two years.
US court rejects challenges to FCC approval of SpaceX satellites
A U.S. appeals court has upheld the FCC's approval of SpaceX's plan to deploy thousands of Starlink satellites for broadband internet. Challenges from DISH Network and astronomers were rejected. SpaceX aims to expand its satellite network for wider internet coverage.
Nigerian judge sets Binance tax evasion trial for October
Nigerian court to commence trial against cryptocurrency exchange Binance for tax evasion charges. Executives cleared of tax evasion charges but facing separate money laundering allegations. Binance representative pleads not guilty. Case raises concerns amid Nigeria's currency struggles.
Amazon must comply with US agency's pregnancy bias probe, judge rules
Judge Lorna Schofield ordered Amazon to comply with an EEOC subpoena on pregnancy discrimination claims. By August 9, Amazon must provide specific data beyond the 200,000 pages already submitted. Amazon, while acknowledging errors, claims support for workers. This investigation, involving complaints from five women, saw federal law changes impacting accommodations. Reporting by Daniel Wiessner, edited by David Holmes.
Three-day Bengaluru Tech Summit to be held from November 19
The Bengaluru Tech Summit 2024 will feature participation from 40+ countries, 460+ speakers, and 5000+ delegates. Karnataka CM discusses state's GSDP growth and plans for tech sector. The event will cover various tech tracks including IT, biotech, startups, and more.
CCI probe finds Apple abused position in apps market
India's antitrust body finds Apple engaged in abusive conduct in app store market, forcing developers to use its payment system. Apple denies wrongdoing, citing small market share in India. Investigation ongoing with potential fines and business practice changes. Google also faced similar scrutiny in India for in-app payments.
