US crypto broker Genesis says it is working to avoid bankruptcy filing

"Our goal is to resolve the current situation in the lending business without the need for any bankruptcy filing," a Genesis spokesperson said.

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Tata eyes Apple vendor Wistron's facility in Karnataka

The transaction, if successful, will help the salt-to-software conglomerate ramp up the manufacturing capabilities of group company Tata Electronics Pvt Ltd (TEPL) in precision engineering.

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MeitY set to meet experts on data bill; Twitter starts vacating India offices

The closed-door meetings this week are likely to be chaired by union electronics and information technology minister Ashwini Vaishnaw, our sources said. Apart from seeking feedback, the government “will also try to allay any fears that experts have raised so far on some of the contentious issues” in the bill

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JP Morgan eyes collaborations in fintech space in India, says global CIO Lori Beer

Beer manages close to $14 billion of technology expenditures for the $121-billion financial services behemoth that is also the largest bank in North America by total assets.

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Swiggy shuts The Bowl Company cloud kitchens in Delhi-NCR

Sources said Swiggy was attempting to become operationally fitter and was cutting down on some of its experimental activities, while indicating that shutting down The Bowl Company in Delhi-NCR was unlikely to have a major impact.

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Alibaba Group to sell 26.29 crore Zomato shares on November 30

The sale will take place at an offer floor price of Rs 60 per share – a 5.59% discount to Tuesday’s closing price of Rs 63.55 on BSE.

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Talent sourcing platform CBREX raises $3 million in funding led by WaterBridge Ventures

The freshly raised funds will be used to ramp up US go-to market, on sales and marketing for new markets, and building new products.

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Dailyhunt and Josh parent VerSe Innovation to lay off 150

As part of a cost-cutting exercise, the company has also cut the salaries of employees earning more than Rs 10 lakh annually by 11%.

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Aditya Birla Group venture TMRW to invest in eight D2C brands

“We are excited about partnering with these amazing entrepreneurs that are disrupting multiple lifestyle categories. With our investment and deep value-addition, we are confident in scaling existing leading brands to become category leaders as well as be the category creators in several emerging categories," Prashanth Aluru, CEO and Co-founder, TMRW, said.

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Next year will be worse for tech than 2022: Unacademy's Gaurav Munjal

Gaurav Munjal's edtech startup also sacked as many as 350 employees recently in a bid to reduce costs and turn a profit

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Specialty chemicals startup Covvalent raises $4.3 million in seed funding from Nexus VP, others

The company said it plans to use the funds to strengthen its tech infrastructure and for recruitment across the international business development, technology, and product development verticals.

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Meet the Drapers Season 5 comes to an end, time to apply for season 6

To make the world a better place and have ideas that can solve global challenges, don't sit around, apply for the next season of ‘Meet the Drapers’ and make your big ideas a reality.

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Dhruva Space looking to raise $20-25 million in 2 years for satellite infra facilities

Dhruva Space, which has sent two tiny satellites recently, is looking to raise USD 20-25 million in the next one to two years to create infrastructure facilities here to be able to launch satellites weighing up to 100Kg, Abhay Egoor, co-founder and CTO of the city-based startup said.

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FTX remains focus of 'active' investigation: Bahamas attorney general

FTX, which had been among the world's largest cryptocurrency exchanges, is headquartered in the Bahamas.

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Ola, Uber drivers fret over 5% convenience fee on each autorickshaw ride

The Karnataka government on November 25 directed the regional transport authorities to charge five per cent convenience fee and GST from the ride hailing companies on each autorickshaw ride by the passengers.

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Elon Musk shares glimpse of Twitter's new look, calls it Twitter 2.0- 'The everything app'

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Elon Musk loses top advertisers on Twitter in a month: study

Elon Musk has lost half of the top 100 advertisers on Twitter in less than a month after the billionaire took office, the study revealed.

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Elon Musk says Twitter user signups at all-time high, touts features of "everything app"

Musk said user active minutes were at a record high, averaging nearly eight billion active minutes per day in the last seven days as of November 15, an increase of 30% in comparison to the same week last year.

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Govt can't violate privacy of citizens, personal data access in exceptional situations, says MoS IT

Rajeev Chandrasekhar said the proposed Data Protection Board - which will adjudicate matters related to data protection - will be independent and not have any government officer on the board.

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Twitter's ban on Donald Trump after Capitol attack was 'grave mistake', says Elon Musk

Last week, Musk announced the reactivation of Trump's account after a slim majority voted in a Twitter poll in favor of reinstating Trump, who said, however, that he had no interest in returning to Twitter.

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Elon Musk says he will make 'alternative' phone if Twitter removed from app stores

"I certainly hope it does not come to that, but, yes, if there is no other choice, I will make an alternative phone," Elon Musk tweeted.

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Gamitronics partners with Canadian gaming major Big Viking Games for global expansion

Gamitronics said it has entered into a strategic partnership with the Canadian gaming major Big Viking Games (BVG) to fuel the global expansion of its blockchain technology-led metaverse platform, Partynite

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RBI asks Paytm to reapply for payment aggregator licence; needs to comply with FDI guidelines

The central bank has also directed the payment firm not to onboard new online merchant

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China’s iPhone City on edge

The Zhengzhou factory – which reportedly had 120,000 workers in 2012 and more than 200,000 as of this month – is sometimes referred to as iPhone City as it produces the bulk of Apple's iPhones.

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Brands jump on to Black Friday bandwagon, extend sale period

Electronic goods and smartphone makers, ecommerce platforms, grocery stores, fashion brands, restaurants and cafes, multiplexes, hotels and malls clambered aboard the Black Friday bandwagon. Many are extending the sale period over the weekend to the start of next week or Cyber Monday, originally coined for ecommerce sales.

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Samsung plans to invest Rs 400 crore at its Tamil Nadu Facility

Samsung to start manufacturing 5G and 4G radio equipment at Kanchipuram.

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Udaan raises another $35 million from EvolutionX via convertible notes and debt

Udaan’s latest financing comes close on the heels of $120 million raised through convertible notes and debt from existing shareholders and bondholders in October.

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Former Nykaa CFO Arvind Agarwal to take over as chief financial officer of PayU India

Confirming the development, a PayU spokesperson said: “We are excited to welcome Arvind to our leadership team at this opportune time with the company heralding a new growth journey.”

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Amazon faces Black Friday protests, strikes in 40 countries

Employees in the US, UK, India, Japan, Australia, South Africa and across Europe are demanding better wages and working conditions as the cost-of-living crisis deepens, in a campaign dubbed “Make Amazon Pay”.

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Twitter job cuts a concern as new EU rules kick in, says EU justice head

The new rules known as the Digital Services Act, which will apply from February 2024, require online platforms to do more to police the internet for illegal content or risk fines as much as 6% of their annual global turnover.

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Scoop: PhonePe may acquire ZestMoney; Aditya Birla Fashion close to buying Bewakoof; and Koo's new funding round

If the transaction goes through, it will be the biggest consolidation in the new-age lending sector, which has of late faced major regulatory roadblocks in India. In September, the Reserve Bank of India introduced a set of rules for online lenders.

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No one was fired, resignations were voluntary, Amazon tells labour ministry

The authorities had sought Amazon’s response after Pune-based employee union Nascent Information Technology Employees Senate (NITES) petitioned union labour minister Bhupender Yadav, claiming that the online retailer had forcibly terminated a large number of employees in India.

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FTC likely to file lawsuit to block Microsoft bid for Activision: report

A lawsuit challenging the deal is not guaranteed, and the FTC's four commissioners have yet to vote out a complaint or meet with lawyers for the companies, the report said, adding that the FTC staff reviewing the deal are skeptical of the companies' arguments.

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Google may challenge CCI verdicts; Prosus says Swiggy, PayU showing strong growth

The verdicts may hurt developers in the country as it means they may have to develop apps with different specifications for different app stores.

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Amazon plans to invest $1 billion in movies for theaters

Amazon will release a smaller number of films in theaters next year and increase its output over time. That number of releases puts it on on a par with major studios such as Paramount Pictures.

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Kae Capital announces the final close of Fund III at Rs 767 crore

Kae Capital's third fund attracted several international and domestic institutional investors including the likes of Old Mutual Wealth, Velo Partners, Finext, HDFC Holdings and SIDBI.

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Worried Google brass flags CCI orders a ‘priority’ issue

Verdicts may hurt Google’s developer base in India as different app stores will need different apps.

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Glance Gaming grows over two times in three quarters; driven non-metro gamers

Glance Gaming’s monthly active user base reached 65 million as of October this year: over 73% of these users belonged to non-metros and 47% of these users are women.

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ONDC to provide opportunities for innovation, growth for startups, ecommerce ecosystem players: CEO T Koshy

Ushering in an era of open-source network for digital commerce, ONDC chief Thampy Koshy lays out the blueprint for revolutionising the Indian ecommerce landscape, one where buyers and sellers enjoy equal opportunity. At ET India Rising, powered by Visa, Koshy maps out the road ahead for India’s ONDC and the opportunities it presents for ecosystem players and startups to innovate and grow.

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As Elon Musk cuts costs at Twitter, some bills are going unpaid

Once Musk took over the company, he refused to reimburse travel vendors for those bills, current and former Twitter employees said. Musk's staff said the services were authorized by the company's former management and not by him. His staff have since avoided the calls of the travel vendors.

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FTX was run as 'personal fiefdom,' faces hacks, missing assets, attorneys say

In the highest-profile crypto blowup to date, FTX filed for protection in the United States after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal. The collapse has left an estimated 1 million creditors facing losses totaling billions of dollars.

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Sam Bankman-Fried's FTX, senior staff, parents bought Bahamas property worth $300 million

While it is known that FTX and its employees bought real estate in the Bahamas, where it established its headquarters in September last year, the property records show for the first time the scale of their buying spree and the intended use of some of the real estate.

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Worldwide tech slump may drag on IIT placements

Institutes expect fewer recruiters, major offers but will be less affected than others.

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Heady hikes on tech job switches seem to be over

New jobs still fetch about 30-35% hike in salaries, but they have fallen from a high of 100% amid layoffs, slowdown in economy.

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Disney's new CEO Bob Iger may have to cut costs as streaming loses money

Disney shocked investors late on Sunday evening by announcing the ouster of CEO Bob Chapek and appointing Iger, 71, to a two-year contract to return the company to growth.

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Elon Musk says Twitter is 'holding off relaunch of Blue Verified'

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Elon Musk says Twitter to hold off relaunching blue check verification

Twitter had paused its recently announced $8 blue check subscription service, as fake accounts mushroomed and had said Twitter's sought-after blue check subscription service will be relaunched on November 29.

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Experts flag data bill concerns; crypto exchanges seek new revenue streams

They said one of the most worrisome aspects of the bill is the broad exemptions the government has granted itself. Justice BN Srikrishna, who helped write the first draft of the Personal Data Protection Bill in 2018, agreed with this view

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Data Bill offers govt a lot of scope to expand powers, say experts

Experts say the subsequent rules will define the exact guardrails under which data will be governed in India

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Government wants ecommerce, hotel and travel platforms to reveal rating methodology

Government brings out standards for online reviews to minimise the chances of bias and fraudulent reviews

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