Author: News Desk
A majority of Twitter Inc. shareholders had approved the social media company’s $44 billion sale to Elon Musk. The deadline for the shareholder vote on the merger is Tuesday, but according to the sources, enough investors had already cast their votes by Monday night for the result to be secure. Requests for response from Twitter and Musk’s team were not immediately entertained. Musk informed Twitter that he would not proceed with the acquisition, claiming that the company had deceived him about the platform’s spam accounts and that it had not informed him of a pay settlement it had made with…
Nitin Gadkari, the Union minister for roads and highways, said that the government is planning to build solar-powered electric highways that will make it easier to charge large trucks and buses. In remarks at a gathering hosted by the Indo-American Chamber of Commerce (IACC), Gadkari reaffirmed the government’s intention to build an electric public transportation system in India. In general, an electric highway is a route that provides power to moving cars, including through overhead power lines. According to Gadkari, the government is also promoting toll booths to use solar electricity. The minister claimed that the road ministry had created…
A collaborative mobile robotics firm, Peer Robotics has raised $2.3 million in seed funding, with Kalaari Capital as the lead investor.Existing investors Axilor Ventures, Connecticut Innovations, and Innopact VC took part in the round. Peer robotics is made to operate alongside people, simulating manufacturing operations’ workflows for repetitive jobs in order to save time, boost productivity, and lessen accidents. With a flexible design, out-of-the-box deployment, and cheap maintenance, the company’s robots learn from people in real-time, enabling workers on the shop floor to integrate and deploy solutions alongside them. The STANLEY+Techstars Accelerator programme portfolio includes Peer Robotics. Several industrial facilities…
Air India leases 30 planes to expand operations. It includes 25 Airbus narrow-body aircraft and five Boeing wide-body planes. The planes will enter service in December Wide-body planes will allow longer distances like the India-US route. This is the first significant expansion of Air India under the Tata Group. Tata Group took the airline’s control on January 27, 2022. The lessors will deliver the planes by the end of 2023 Under the new business model, Air India will offer premium economy class too.
Direct-to-consumer (D2C) company Mensa Brands acquired health food startup MyFitness for an undisclosed amount, with the goal of growing it to $1 trillion over the next three to four years. The acquisition will help Mensa Brands launch new categories, expand D2C, invest in brand building and expand into global markets. Founded by Mohammad Patel and Rahil Virani in 2019, MyFitness is popular with fitness enthusiasts, millennials, Gen Z, and athletes. MyFitness was the first company to launch a chocolate version of peanut butter in India and the world’s first chewy peanut butter. They are also the Official Snack Partner of…
Centre to issue new guidelines for social media content creators. This will be applicable to influencers across social media platforms Influencers who receive freebies from firms are subjected to taxes. The new guidelines insist that influencers must declare details of their paid promotions. The government says it’s to protect consumers from fake reviews. Otherwise, heavy penalties would be charged. First offence will be charged with Rs 10 lakhs. Habitual offenders will have to pay Rs 50 lakhs. New guidelines will be announced in the following 15 days.
Alphabet Inc is considering India for some of its Pixel smartphone production. A new report suggests that some production of Pixel phones will be moved to India from China owing to the recent Covid-19 lockdowns and the rising tension between the US and China. Earlier this year, global supply chains were disrupted when China closed key tech hub Shanghai and other cities due to a surge in Covid-19 cases. And, recently, the United States banned exports of some high-end chips to China, causing tension between the US and China. Alphabet is yet to confirm the news. However, the report says that…
In Doha, a Mongolian falcon that was used for hunting was sold for 911,000 Qatari riyals. The use of falcons for small game hunting and other practices, generally known as falconry, is a major aspect of culture in the Gulf countries, where the avian animal commands a premium among citizens. On the penultimate day of the exhibition, Bader Mohsen Misfer Saeed Al Subaey placed the highest winning offer of 911,000 Qatari riyals. The Katara International Hunting and Falcons Exhibition, which featured more than 180 companies from around the globe and lasted six days, concluded on Saturday. On display were falcons,…
India’s minister of petroleum and natural gas, Hardeep Singh Puri, said that in the near future, most of the country’s crude oil supply will come from the Gulf region, including Saudi Arabia and Iraq, as India seeks a secure and affordable energy base. Indian refiners have scooped up relatively cheap Russian oil that has been shunned by Western companies and countries since sanctions were imposed on Moscow over military special operations in Ukraine. India’s imports of Russian oil increased by 4.7 times from April to May, or more than 400,000 barrels per day, but fell in July. Crude oil imports…
Mahindra reveals its electric SUV XUV400. The price of the car will be revealed in January 2023. Deliveries also might begin by the end of January. Mahindra XUV400 is an all-electric version of the XUV300. It is powered by a 39.5kWh battery pack. The SUV claims a total range of 456kms on a full charge. It can be fast charged to 80% in 50 minutes. XUV400 is longer than XUV300. It has six airbags, disc brakes on four corners, ABS with EBD, and a rear parking camera with sensors.