SBI plans to sell 14% stake in card unit’s IPO, raise Rs 8,000 crore
It is the second largest credit card company in India with a card base of 9.5 million after HDFC Bank, with over 13 million.
Daimler mulls slashing 1,100 senior jobs: Report
German luxury carmaker Daimler plans to cut 1,100 management jobs worldwide in fresh efforts...
Bull run for private technology funding market coming to an end: Softbank's Deep Nishar
Nishar said the debacle at WeWork, which SoftBank bai...
UberEats India devours firm's global numbers
Uber's total revenue rose nearly 30% to $3.81 billion, while net loss widened to $1.16 billion in the quarter ended September 30, the company said in a statement.
Ola and Uber look beyond cab hailing to drive growth
Both mobility platforms are expected to bank on bike taxis and rentals to shore up ride numbers.
Uber India collective loss to hit Rs 3.8k crore
Negative revenues could be caused by commission revenues being lower than the cost of delivery, high refunds to consumers and UberEats paying restaurants for the food which they are not themselves giving discounts on, those tracking the space said.
Real reason why Uber moved in: To simplify tax math
Earlier this month, Uber restructured and moved its entire India business – which partially operated from Netherlands under Uber BV – to the India-domiciled Uber India Systems. This is Uber’s first such restructuring since 2014.
Gig economy weighs impact of social security for workers
The government has proposed changes which would ensure gig workers get life and disability cover, health and maternity benefits, old age protection and any other benefit it may determine as helpful. The benefits have not been clearly defined yet, which is making companies anxious as they fear their operational costs will jump.
Ola, Uber to deactivate surge pricing during odd-even scheme in Delhi
"We want to do our part in ensuring movement around the city is easy during the odd-even phase and have decided to deactivate dynamic pricing for the duration." an Uber spokesperson told PTI last month.
Home services app Joboy to expand to bigger metros in India
Initially launched in Kochi followed by Thiruvananthapuram, Thiruvalla, Kottayam and Thrissur in India and Dubai and Abu Dhabi in the UAE, the home services app offers more than 70 services under various categories. It now plans to expands its footprints to bigger metro cities in the country and also to Sharjah.
Hyundai, Kia’s $300 million funding in Ola and its electric arm gets CCI nod
The CCI had initially deemed the deal as invalid after ANI Technologies failed to provide details of the impact of the proposed combination on competition in the ride-hailing space. A modified proposal was then filed in September.
CCI okays Hyundai, Kia's stake buy in ANI Technologies, Ola Electric
"The Commission approved the proposed combination subject to the carrying of modifications proposed by Hyundai Motor Company and Kia Motors Corporation," the CCI said. The proposed transaction does not give rise to any competition concerns.
Faculty of Management Studies secures 100% summer internship placements
There was a record 42% increase in the e-commerce/IT/Operation roles compared to last year with 47 accepted offers from recruiters such as Amazon, Adobe, Flipkart, Google, Media.Net, Microsoft, Ola, Swiggy and Uber.
Ola in talks with Microsoft for $200 million funding
Ola, which has about 200 million riders on its platform across India, the UK, Australia and New Zealand, had recently announced setting up of a research unit in the Bay Area to focus on new areas like e-vehicles and connected cars.
The Economic Times India dialogues: Gig economy not best model for job creation
India is still struggling with realising the full potential of its demographic dividend. Though, the gig economy employs millions of people, these are the first kind of jobs that are far more likely to be eliminated or automated.
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