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Articles by Adani Power..
Apple iPhone Production May Fall 30% Due to Covid Restriction In China: Report
Manufacturing of Apple’s iPhones could decline by as much as 30% from next month due to tighter Covid-19 restrictions in China. Apple iPhone’s manufacturer Foxconn is working to increase production at another site in the city of Shenzhen, Reuters reported citing a source familiar with the matter. On Sunday Foxconn stated that it is working to bring the situation under control and will coordinate backup production with other plants to lessen any potential damage.
Instagram Stops Working, Tells Users Their Accounts Are Suspended
Days after the WhatsApp outage that lasted for nearly an hour, the Meta-owned photo-sharing app Instagram stopped working on Monday, with several users unable to get online and receiving a message that their account had been suspended. Instagram confirmed the issue on Twitter, stating, “We’re aware that some of you are having issues accessing your Instagram account.
Byju's CEO Says Job Cuts Necessitated Due To Macroeconomic Developments
Byju's founder and chief executive Byju Raveendran has apologised to the firm's employees for the clumsy layoffs in India's largest education technology company, saying 2,500 job cuts were necessitated to avoid role duplication and reduce redundancies. In a message to employees, Raveendran said Byju's has been compelled to focus on sustainability and capital-efficient growth because of adverse macroeconomic factors.
RBI Imposes Fines On Vakrangee, LIC Housing For Violating Norms
The Reserve Bank on Monday said it has imposed penalties on various financial entities, including Rs 1.76 crore on Vakrangee, for violating various norms. The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1,76,00,000 on Vakrangee Ltd for non-compliance with certain provisions of the White Label ATM (WLA) directions, the central bank said in a release.
Wal-Mart India FY22 Loss Widens To Rs 299 Crore; Revenue Up 7% To Rs 5,350 Crore
Wal-Mart India Pvt Ltd, which operates Best Price Flipkart wholesale stores, has witnessed its loss widening to Rs 299.01 crore in FY22 despite its revenue from operations going up, according to financial data accessed by business intelligence platform Tofler. Wal-Mart India, in which Flipkart acquired 100 per cent interest in July 2020, had reported a net loss of Rs 200.80 crore in FY21.
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