Swiggy to lay off again, 350 more employees to lose jobs : Bulletin: Business Today
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Swiggy to lay off again, 350 more employees to lose jobs

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July 30, 2020

Russia likely to approve world's first coronavirus vaccine by August 10

Russia plans to approve a coronavirus vaccine for public use as soon as August 10 to August 12, according to a report. The drug being developed at Moscow's Gamaleya Institute and the Russian Direct Investment Fund may be approved for widespread use within three to seven days of registration by drug regulators, Bloomberg reported. The drug, if approved, would be the world's first coronavirus vaccine. However, adequate scientific data on its coronavirus vaccine trials is yet to be released by Russia.

Anil Ambani loses ADAG Mumbai headquarters to YES Bank after Rs 2,892 crore default

YES Bank has reportedly taken possession of Reliance Centre in Mumbai, the headquarter of Anil Dhirubhai Ambani Group (ADAG), after the company failed to repay dues worth Rs 2,892 crore. The Anil Ambani-led group is one of the biggest borrowers of YES Bank with exposure of over 12,000 crore. The bank acquired the building on July 22 under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFESI) Act.

Maruti reports its worst quarterly performance ever, logs Rs 249 crore loss in Q1

India's largest carmaker Maruti Suzuki India has reported its worst ever performance in a quarter logging a loss for the first time in the first quarter of this fiscal. The company has registered a net loss of Rs 249.4 crore.

The results indicate the fallout of the spread of the pandemic during the last three months that saw a complete lockdown in the month of April.

'IAF's combat capability got a timely boost': Rajnath Singh after Rafale jets' arrival

The first batch of Rafale fighter jets which took off from France on Monday landed at Ambala airbase on Wednesday. The five jets - 3-single seater, and 2-double seater planes - have been delivered to India nearly four years after it signed an inter-governmental agreement with France to purchase 36 Rafale jets under a Rs 59,000 crore deal

Swiggy announces job cuts yet again, 350 more employees to lose jobs

After laying off over 1100 employees in May, Swiggy has yet again announced that it would be laying off 350 more employees due to slower business recovery.However, the food-hailing giant has offered three to eight months of salary to the employees who lost their jobs along with accelerated stock vesting.

Indian firms lose Rs 14 crore to data breaches in 8 months

The rising incidents of data breach are causing a huge impact on financials of the companies. According to the latest global study by IBM Security examining the same, the average cost of data breach in India stood at Rs 14 crore. The study spanning between August 2019 and April 2020 showed an increase of 9.4 per cent from 2019 findings.

BT Panorama: Top 10 most attractive employer brands in India

BT Newsflicks: Commercial vehicle industry: Slowdown prolongs due to COVID-19

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