Newsmakers: Modi has packed US schedule, Volkswagen to start firing staff and more

Modi has packed schedule during 7-day US trip: Prime Minister Narendra Modi, who arrived in New York on Thursday on his second visit to the US, has a packed schedule ahead of him, during which he will address world leaders at a landmark UN sustainable development summit and interact with top CEOs and the Indian diaspora in the Silicon Valley. Modi will attend a roundtable meeting with FIIs keen to invest in India. He will also attend a dinner with Fortune 500 company CEOs. He would then fly to the West Coast, Silicon Valley, where he will go to Facebook's headquarters. He will also be visiting Google's campus and Tesla Motors.

Volkswagen to start firing staff: Volkswagen will start firing people responsible for rigging US emissions tests and shake up management on Friday, two sources familiar with the plans said, as the German carmaker tries to get to grips with the biggest scandal in its 78-year history. The supervisory board of Europe's biggest automaker is meeting on Friday to decide a successor to chief executive Martin Winterkorn, who resigned on Wednesday.

Mukesh Ambani again named India's richest person: Mukesh Ambani, chairman of Reliance Industries (RIL), was named India's richest person for ninth year in a row with a net worth of $18.9 billion even as his wealth dipped by $4.7 billion in a year, while e-commerce giant Flipkart's founders made their debut on the country's top 100 rich list.

Govt, World Bank in talks for smart cities' funding: The World Bank is in talks with the government to provide some initial funding for the latter's smart cities programme and the Amrut (Atal Mission for Rejuvenation and Urban Transformation) initiative for urban revitalisation.

Facebook brings 360-degree video to its news feed: Facebook said its news feed for web and Android platform users will now support 360-degree videos. A 360 video gives an immersive experience to users by allowing them to view a scene from any angle.