India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai, April 1: Sports technology firm Teamworks announced the acquisition of Pro Football Focus's (PFF) data and analytics platform on Monday in a reported nine-figure deal. The transition, however, has been marked by significant internal restructuring, with PFF leadership confirming mass layoffs during an all-hands meeting. The sale, orchestrated by PFF majority owner and NBC broadcaster Cris Collinsworth, marks a major pivot for the 20-year-old analytics pioneer, shifting its focus toward integrated AI-driven sports operating systems while drastically reducing its content and social media workforce. According to reports from Front Office Sports, PFF informed its employees on Monday, March 30, that only approximately half of the current staff would be retained following the merger. The layoffs appear to heavily target the company's editorial and social media divisions. Oracle Layoffs: Global Job Cuts Begin as Employees Receive 6 AM Emails Terminating Employment, Reports Emerge Worldwide. While the majority of employees transitioning to Teamworks are specialised in data engineering and backend analytics, several high-profile content creators confirmed their departures on social media. Among those affected are podcast host Trevor Sikkema, editor John Owning, and fantasy football analyst Jon Macri, along with social media producers Mike Kennedy and Beckett Mesko. The acquisition is centered on PFF's enterprise business - the vertical that provides advanced grading and charting data to all 32 NFL teams and over 100 NCAA Division I programs. By folding PFF's data into Teamworks' existing software suite, the companies aim to create a "single source" for team personnel and game-day strategy. "Integrating PFF's trusted game data with Teamworks' AI-driven operating system gives football executives a single source for performance, game day strategy, personnel strategy, and long-term planning," Collinsworth said in a statement. Under the new agreement, Collinsworth will remain involved as a Teamworks shareholder. While PFF's consumer-facing business - which includes its subscription-based player grades and draft guides - was not technically part of the Teamworks acquisition, the departure of key editorial staff suggests a significant shift in how the brand will engage with the public moving forward. For the last decade, PFF's consumer growth was bolstered by its visibility on NBC's Sunday Night Football, where Collinsworth's majority ownership helped integrate PFF's signature player grades into national broadcasts. It remains unclear how the reduced content team will maintain the brand's high-volume output of articles, podcasts, and social media engagement. Oracle Layoffs: Employees Report Sudden Job Cuts Across India, 18% Workforce May Be Affected Globally. Founded in 2006, Pro Football Focus initially gained a cult following among die-hard fans for its granular film-study approach to player evaluation. Its influence skyrocketed after Collinsworth purchased a majority stake in 2014, transforming the company from a niche statistics site into a standard-bearer for football analytics. The sale to Teamworks represents the latest consolidation in the sports tech industry, where specialised data providers are increasingly being absorbed into larger "operating systems" that manage everything from athlete communication to scouting and recruitment.
New Delhi, Dec 4 (VOICE) Aadit Palicha, Co-founder and CEO of Zepto, on Wednesday said he is not against work-life balance and even recommends it to his competitors. Palicha's statement comes even as a viral post, on the American social media platform Reddit, accused the quick e-commerce platform of toxic work culture. "I have nothing against work-life balance. In fact, I recommend it to all our competitors :)," said the 22-year-old CEO, in a post on social media platform X. The Reddit post, by an anonymous user, alleged that Zepto's working environment was "toxic", with employees working ex ...Read More >
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
BENGALURU - Altimetrik, a pure-play AI, Data and Digital engineering solutions company, today announced the signing of a definitive agreement to acquire SLK Software ("SLK"), a global technology services firm focused on delivering AI, intelligence automation and analytics solutions. The acquisition will further strengthen Altimetrik's end-to-end enablement services and expand its customer reach, with a clear path to accelerate towards Altimetrik's goal of reaching $1billion in annual revenue. The transaction remains subject to customary closing conditions and is expected to close in the second ...Read More >
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Strategy, formerly known as MicroStrategy, is on track to report an impressive $14 billion in unrealized gains from its extensive Bitcoin accumulation strategy. Co-founded by Michael Saylor, the company has successfully transformed itself from a struggling enterprise software provider into a leading leveraged Bitcoin proxy, drawing comparisons to major corporate powerhouses such as Amazon and JPMorgan Chase. According to a recent Bloomberg report, Strategy's anticipated profit ...Read More >
CHENNAI: Hyundai Motor Group has partnered with three Indian Institutes of Technology (IITs) to establish a collaborative research system in the fields of batteries and electrification. The three institutes are IIT Madras, IIT Delhi and IIT Bombay. The Hyundai Centre of Excellence (CoE), which will be set up on IIT Delhi campus, will operate through sponsorships from Hyundai Motor Group. The primary objective of the Hyundai CoE is to take the lead in driving advancements in batteries and electrification, specifically designed to meet the unique requirements of the Indian market. Hyundai Mo ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
Thiruvananthapuram, June 7 (UNI) Amid swirling speculation over the possible cancellation of an exhibition match involving global football icon Lionel Messi, Kerala Sports Minister V Abdurahiman on Saturday reaffirmed that the much-anticipated event is very much on. "World Champion Argentina football team will visit Kerala," the minister said in a social media post, adding that Messi -- fondly known as King Leo -- is confirmed to participate in the match. His clarification comes in the wake of reports suggesting uncertainty around the event, prompting concern among fans and stakeholders. The ...Read More >
New Delhi [India], June 8 (ANI): External Affairs Minister S. Jaishankar will undertake an official visit to France, the European Union (EU), and Belgium from June 8 to 14, 2025, the Ministry of External Affairs announced in a press release on Sunday. The visit marks a significant step in further strengthening India's strategic partnerships with Europe. The EAM will first travel to Paris and Marseille, France, where he will hold bilateral discussions with the Minister for Europe and Foreign Affairs of France, Jean Noel Barrot. Also Read | Indian Citizen Dies in UAE: Civil Engineer Issac Paul ...Read More >
New Delhi [India], January 10 (ANI): Prime Minister Narendra Modi said that people misunderstand the meaning of, "minimum government, maximum governance". He said that the efforts must be to increase the speed of work done by government departments and thus, he had made different ministries for skill, cooperatives, and fisheries. Speaking in a podcast with Zerodha Co-founder Nikhil Kamath, PM Modi said that the government took away 40,000 compliances to increase the speed of work in different departments. "We often misunderstand the concept of minimum government, maximum governance. Some bel ...Read More >
Mumbai, Jun 8 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Sunday said Congress MP Rahul Gandhi, instead of introspecting on the defeat in the 2024 state assembly polls, has been repudiating the mandate given by the people because they rejected him. The leader of opposition in the Lok Sabha is preparing his excuses for future defeats in the upcoming assembly elections, including Bihar, Fadnavis said in his articles published in the Indian Express and Marathi daily Loksatta. On Saturday, Gandhi, in an article published in several newspapers and in posts on X, claimed the 2024 Maharas ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Bengaluru: ShopOS, a startup building an AI-based operating system for e-commerce, has raised $20 million led by Binny Bansal's 3State Ventures. The company said it will use the funds to expand its engineering team and further develop its AI platform, and add more brand customers. Founded by Sai Krishna V K and Ajay P V, ShopOS develops software that uses AI to streamline common e-commerce tasks, including creating product listings, generating marketing campaigns, and adapting online stores based on visitor behaviour. The company aims to reduce manual effort and enable brands to operate across ...Read More >
New Delhi: Alleging "blatant misuse" of agencies to defame its leaders, AAP on Thursday questioned why the first information report filed against former Delhi ministers Saurabh Bharadwaj and Satyendar Jain was being kept under wraps and "selective" press notes were being leaked to the media.Bharadwaj, who is Delhi AAP convener, alleged that only two former ministers were named in the case without any reasonable cause while all the officers of the health and public works departments, who were actually responsible for executing the hospital projects, were spared. "Is the FIR so baseless that BJP ...Read More >
VIJAYAWADA: The State government on Friday accorded approvals to a slew of industries. Among those are Krishnapatnam Power Corporation Limited (KPCL), which is set to establish a 350 MW Solar and Battery Energy Storage System (BESS) in Thamminapatnam and Mommidi villages of SPSR Nellore district with a Rs 1,225 crore investment, creating 575 jobs. Furthermore, the government also waived off a Rs 54 crore extension of time fee, contingent on project completion within two years as per the Andhra Pradesh Integrated Clean Energy Policy-2024. The government also allocated 22.80 acres at MPSEZ in N ...Read More >
New Delhi: A recent podcast appearance by Netflix CEO Ted Sarandos has ignited a heated debate in the entertainment industry. Sarandos' comments on Netflix India's content strategy, particularly regarding Sacred Games, have drawn the ire of the show's co-creator, Anurag Kashyap. He wasted no time in publicly slamming Ted Sarandos on social media, accusing him of being "dumb" for his perspective. During his appearance on Nikhil Kamath's WTF podcast, Ted Sarandos shared his thoughts on launching Indian original content on Netflix. He expressed doubts about the strategy of starting with Sacred ...Read More >
Mumbai: Net profit of Nifty 50 companies at the aggregate level is expected to increase 4.6% year-on-year while revenue may increase 4.5% for the June 2025 quarter. Net profit is likely to show single-digit year-on-year growth for the first time in at least nine quarters amid an anticipated poor performance by select companies, including Tata Motors, IndusInd Bank and Coal India. The sample's revenue is expected to grow in single digit for the fourth consecutive quarter reflecting persistent muted demand scenario. Select companies from metals, pharmaceuticals, cement, banking and finance and ...Read More >
Bill Gates' comments on India's potential as a 'laboratory to try things' during a podcast have sparked backlash among Indian social media users, who felt the remark was disrespectful. While some saw it as reducing India to a testing ground, others defended Gates, claiming his statement was misinterpreted. Bill Gates' latest comments on a podcast with Reid Hoffman have set off a firestorm of controversy among Indian commentators. In a discussion, he referred to India as a "kind of laboratory to try things," which has caused great outrage and accusations of disrespect. The tech mogul has faced ...Read More >
Gurgaon: MCG additional commissioner Yash Jaluka directed bulk waste generators (BWG) across the city to ensure proper disposal of waste by private agencies who are assisting them. Giving these instructions in a meeting held on Friday, he said it is often observed that BWGs hand over their waste to private agencies, which only sort valuable items and dump the remaining waste on roads, drains, vacant land or public places. This, he said, not only affects cleanliness of the city but also poses a threat to public health."Under the Solid Waste Management Rules-2016, it is the legal and moral respo ...Read More >
Mumbai, June 29 (SocialNews.XYZ) It was a belligerent, brilliant, and breathtaking performance from the Chennai Bulls, who were crowned the first ever champions of the Rugby Premier League, here in Mumbai, at the Shahaji Raje Bhosale Sports Complex. The Chennai Bulls thrashed the Delhi Redz by a scoreline of 41-0 in the final, to clinch the title. In fact, the margin of victory is the biggest across Season 1 of the GMR RPL. Meanwhile, the Hyderabad Heroes, who had finished top of the table in the league stage, came away with a third-place finish, after they won 17-12 against the Bengaluru Bra ...Read More >
Kochi: A quiet techie from Muvattupuzha, who once worked with top engineering firms, has turned out to be the mastermind behind India's most prolific darknet drug syndicate. The Narcotics Control Bureau (NCB) unmasked him after months of surveillance and a well-timed raid. Though involved in drug trafficking for over six years, the 35-year-old was active in darknet operations only for the past two. The NCB had identified his role in operating 'Ketamelon', which the agency has dubbed as India's most prolific darknet syndicate, a month and a half ago. The agency waited for strong evidence evide ...Read More >
Baramulla, Jul 5: Hundreds of mourners from Delina and its neighbouring villages Saturday participated in the Muharram procession, the 9th day of the month of Muharram-Ul-Haram at Delina area of north Kashmir's Baramulla district. The procession was one of the series of processions being held in the month of Muharram, the first month of Islamic calendar. Dressed in black and carrying flags bearing religious inscriptions, participants from the villages of Hygam, Bulgam, Bohripora, Syedpora, Uri, Boniyar and other villages marched from new Imambargah through the National Highway NH-1 to the ma ...Read More >
, /PRNewswire/ -- Canaan Inc . (NASDAQ: NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that the Company will participate in the following investor conferences in . Canaan's management plans to host one-on-one meetings with institutional investors at the conferences. For more information about the conference or to schedule a one-on-one meeting, please contact your representative at each institution or contact the Company at IR@canaan-creative.com. About Canaan Inc. Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technolo ...Read More >
BENGALURU: BBMP marshals deployed at lake security and supervision wing, ward monitoring and Indira Canteens are working without salaries since March. The situation has arisen after Bangalore Solid Waste Management Limited was carved out of BBMP for garbage management. Their salaries are usually given through the Ex-Servicemen Welfare Society and each marshal is paid Rs 17,500 monthly. "Supervisors say the delay is due to a set of procedures. Earlier, the amount was given to the Ex-Servicemen Welfare Society towards payments from BBMP. Now the files have to be cleared from BWSML to ward mars ...Read More >
Umwelt.Ai has partnered with PeopleStrong to enhance employee experiences and streamline HR processes through advanced AI-driven engagement solutions. This collaboration combines Umwelt.Ai’s cutting-edge analytics and sentiment analysis with PeopleStrong’s expertise in Human Capital Management (HCM), delivering real-time insights to tackle workforce challenges. The partnership aims to boost employee satisfaction, retention, and productivity, aligning with the rapid growth of India’s employee engagement market. Umwelt.Ai’s CEO Vishal Chopra emphasized its role in fostering dynamic workplaces, w ...Read More >
Cloud-based testing platform LambdaTest has secured $38 million in a funding round led by Avataar Ventures, with Qualcomm Ventures also participating. The fresh funding comes after a gap of more than 30 months for the Noida and San Francisco-based startup. This latest round brings the company's total funding to $108 million, including a $45 million round in March 2022. Its early backers include Premji Invest, Peak XV, Telstra Ventures, Blume Ventures, and Leo Capital. LambdaTest was part of the ...Read More >
Mumbai: Hooliganism under the guise of Marathi pride will not be tolerated in the state, CM Fadnavis warned on Friday. He said police had registered an FIR and taken action in the Mira Road incident where a businessman was beaten up by MNS workers for not knowing Marathi.Speaking to the media, Fadnavis said beating up someone over language was wrong. "We are Marathi and are proud of the language. Insisting that a person speak in Marathi is not wrong, but beating up a businessman because he does not know it is wrong. Our Marathi-speaking people are doing business in different states, and if the ...Read More >
NOIDA, India and SAN FRANCISCO, Dec. 10, 2024 /PRNewswire/ -- LambdaTest, the leading cloud-based unified testing platform, has secured a $38 million funding round led by Avataar Ventures, with participation from Qualcomm Ventures, bringing the total funding to $108 million. This pivotal investment will accelerate LambdaTest's mission to democratize quality engineering through innovation, and redefine industry standards for web and mobile software quality through its groundbreaking innovation, KaneAI - "AI Native QA Agent-as-a-Service" platform. With 15,000+ customers including Fortune 500 an ...Read More >
Katra: Prime Minister Narendra Modi on Friday flagged off a Vande Bharat train service between Katra and Srinagar in Jammu and Kashmir, the first train connection between the Kashmir valley and the Jammu region. Modi inaugurated the train in the presence of Railway Minister Ashwini Vaishnaw, Jammu and Kashmir LG Manoj Sinha, and Chief Minister Omar Abdullah, among others. Earlier, the PM inaugurated the Chenab Railway Bridge, the world's tallest rail bridge, and Anji Khad Bridge, the country's first cable-stayed railway bridge The Srinagar-Katra journey, which currently takes nearly six hour ...Read More >
PATNA: RJD leader Tejashwi Yadav on Sunday claimed that the ruling NDA in Bihar was "on its way out", and the new government in the state led by the Mahagathbandhan will "consign to dustbin" the Waqf Act brought by the Narendra Modi dispensation at the Centre. The young leader addressed a 'Save Waqf, Save Constitution' rally, held at the historical Gandhi Maidan here, where leaders from various political parties had turned up, wearing black bands as a mark of protest. The former deputy chief minister, who is now the leader of the opposition in the state assembly, underscored, "Our national p ...Read More >
Mumbai: Tata Sons chairman N. Chandrasekaran has set a new goal for Tata Steel Ltd chief executive and managing director T.V. Narendran: to deliver net profit from the company's UK operations in the current fiscal year. Addressing shareholders at Tata Steel's annual general meeting on Wednesday, Chandrasekaran, who also chairs the steelmaker, said the aim was for the UK operations to achieve net profitability this fiscal year. "I feel that UK should be PAT (profit after tax) positive, so the company is working towards making it profitable," said Chandrasekaran, echoing shareholder concerns. ...Read More >