Here are the Business Headlines as on 15th May 2017:
- Head Hunters India said that job cuts in the next few years would not be limited to 56,000 at 3 major IT Giants, but it will be between 1.75 lakh and 2 lakh annually for next three years due to under-preparedness in adapting to newer technologies.
- Flipkart-Snapdeal merger update : Vani Kola, founder of Kalaari Capital, has resigned from the board of Snapdeal ahead of its merger with Flipkart. Kola is among the earliest investors among Snapdeal.
- Flipkart-Snapdeal merger update : Snapdeal co-founders are planning to give $30 million, roughly Rs 193 crore, to the existing and some former employees from their own payout once the company’s sale to Flipkart is through.
- As per the report of Euromonitor, L’Oreal is now 3rd in personal care market. HUL and Colgate remain top two but L’Oreal moved past Godrej Consumer and Dabur in past year.
- Beginning October 29, KLM is ready to resume its services on Amsterdam-Mumbai sector after 16 years with a thrice weekly flight.
- The government’s cyber security arm has asked installation of relevant “patches” to protect against any data breaches in an critical alert issued to the central bank, stock exchanges, the National Payments Corp. of India (NPCI) and other vital institutions to safeguard their systems against the latest cyber attack that has infected thousands of systems globally and may escalate further.
- InterGlobe Aviation Ltd, which runs IndiGo, is likely to hire some of its founding employees, like Shakti Lumba and Sunita Srivastava to set up its regional operations.
- Adani Group’s renewable energy arm—Adani Green Energy—is seeking to raise $200 million external equity capital to build a pipeline of projects worth over 2 GW.
- Job creation to be central for Startups to qualify for benefits and fast-track patent filing.
- Smartphones which contributed 25% of GMV of e-commerce sales in 2016 are projected to be the heroes of this year’s sales growth as well. Flipkart’s Big 10 Sale from May 14 assures buy-back schemes to lure customers of Smartphones.
- e-commerce companies are experimenting with hybrid models to grow sales and brand awareness. Pepperfry and FirstCry are both expanding on their offline models.
- Zomato aiming to buy “Runnr”, a delivery start-up, for about $20 million to strengthen its food delivery business against rivals such as Swiggy.
- Byju’s to buy part of Tutor Vista from Pearson.
- Live History, digital content platform, attracts funding from Ganesh Natarajan. The platform will showcase historical facts through videos and content contributed by historians.
- Zapty, founded by the earlier founders of Skelta, attracts early stage venture round from IdeaSpring Capital. Skelta was later acquired by Schneider Electric.