IndiGo to lay off 10% workforce, says CEO Ronojoy Dutta : Bulletin: Business Today
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IndiGo to lay off 10% workforce, says CEO Ronojoy Dutta

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July 21, 2020

Oxford coronavirus vaccine shows promise, can train immune system

The human trials of coronavirus vaccine candidate developed by the University of Oxford and backed by AstraZeneca Plc has shown positive results. The first phase of human trials of vaccine, officially known as AZD1222, have appeared to be safe and prompted a protective immune response in hundreds of people who got the shot, as per a report published in British medical journal Lancet.

Sony to own 74% after merger with Viacom 18; ready for duel with Disney-Star

Sony Pictures Network-Viacom 18 merger is in final stages and is likely to be announced soon, according to sources close to the deal makers. Viacom 18 is a 51:49 JV between Reliance owned Network 18 and Viacom. Sony will hold 74 per cent stake in the merged entity while RIL and Viacom who are 51:49 JV partners in Viacom 18 will retain the remaining 26 per cent. Of this, RIL's share will be between 10-12 per cent.

Amazon's global selling program hits $2 billion in cumulative exports

E-commerce giant Amazon's global selling program, which helps Indian exporters sell on international marketplace, has crossed $2 billion in cumulative exports since its beginning in 2015. According to the company, nearly 60,000 Indian MSMEs are exporting through its global program on 15 Amazon websites globally.

Coronavirus impact: IndiGo to lay off 10% workforce, says CEO Ronojoy Dutta

IndiGo will lay off 10 per cent of its workforce in view of the disruption due to the coronavirus pandemic, announced its CEO Ronojoy Dutta. In a statement on Monday, Dutta said that the ongoing pandemic has forced the airline to deviate from its growth trajectory charted six months ago. As on March 31, 2019, the airline had 23,531 employees on its payroll.

Tata Power plans shift to customer-centric businesses with bouquet of services

Tata Power Company Ltd (TPCL), the oldest private power generation company in India, plans to transform its traditional manufacturing business into a customer-centric company with 1 crore customer base by 2025. It wants to digitise the business verticals - including power generation, transmission and distribution - and enhance customer experience through data analytics. In the next five years, the company targets to install over 1 lakh electric vehicle (EV) chargers across India.

India plans to reduce number of state-owned banks to just five: sources

India is looking to privatise more than half of its state-owned banks to reduce the number of government-owned lenders to just five as part of an overhaul of the banking industry, government and banking sources said. The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said.

Oxford-AstraZeneca, CanSino COVID-19 vaccines found promising and safe: Lancet

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