Page 9 - Tech Companies

Apple to boost salaries for US workers by more than 10% as inflation bites

Apple is now accelerating its annual performance-based pay increases for retail and corporate team members by three months

Snapchat slows down hiring, to only hire 500 more people this year

CEO Evan Spiegel told employees that company plans to hire 500 people this year, versus 2,000 it hired over past 12 months, after warning investors that its revenue wouldn't grow as fast as expected

After pledging $955 mn on buys, Tech Mahindra to focus on integrating firms

Over the last 18 months, the company has committed $955 million to acquire 10 companies in varied deal sizes across the world

SoftBank CEO pays price for tech bets with $20 billion loss at Vision Fund

The Vision Fund swung to a loss of 2.64 trillion yen ($20.5 billion) for the year ended Mar. 31, compared with a 4.03 trillion yen profit in the previous year

India tax authorities froze $478 million of Xiaomi funds in Feb: Report

The fund freeze by tax authorities comes on top of another legal tussle Chinese smartphone giant Xiaomi faces.

HR tech startup Hono raises over Rs 38 cr in funding led by Aakash Chaudhry

Hono is looking to leverage the fresh corpus of funds to expand operations across India, the Middle East, and Southeast Asia, increase market footprint and strengthen its product offering

EU to enforce new Digital Markets Act to tame Big Tech in spring 2023

The Commission will act against any violations made by "gatekeepers", Meta, Apple, Google, Microsoft, and Amazon, as soon as the law comes into force

No performance riders on ESOP grants to founders of India's new-age firms

Experts question why such endowments in India's new-age companies are not comprehensively linked with performance targets

Video editing tech firm VideoVerse raises $46.8 mn to expand globally

In October 2021, VideoVerse had raised Series A funding from Moneta Ventures, Baring Private Equity India, Binny Bansal and Ventureast

Tech, engineering, manufacturing firms lead office space in Chennai: Report

As per the latest office report 'CBRE India Office Figures Q1 2022', the total office leasing for the quarter (ending March 31, 2022) was at 2.3 million square feet in Chennai

Stocks fall on Wall Street, led by slump in tech companies

Stocks fell in afternoon trading on Wall Street Monday as the market extends a losing streak from last week. The S&P 500 fell 1.2 per cent as of 12:01 pm Eastern. The Dow Jones Industrial Average fell 189 points, or 0.6 per cent, to 34,530 and the Nasdaq fell 1.8 per cent. Both the benchmark S&P 500 and the Nasdaq are coming off their first weekly loss in four weeks. Technology stocks fell broadly and were the biggest weights on the market. Microsoft fell 3.7 per cent and Apple shed 2 per cent. Energy stocks were among some of the biggest losers as they followed oil prices lower. US crude oil prices fell 3.7 per cent and Exxon Mobil slumped 3.1 per cent. Oil prices remain volatile amid Russia's invasion of Ukraine, which has put more pressure on global energy supplies. Global oil prices are up just over 25 per cent for the year, though they have been easing somewhat throughout April. Industrial companies and banks held up better than the rest of the market. Boeing rose 1.1 per

Office leasing up 97% YoY in Jan-March, Omicron impact muted: CBRE

While several IT firms have shifted to a permanent 'work from anywhere' model for their staff, leasing activity was driven by tech companies, with a 34% share

Lenovo plans to hire 12,000 R&D professionals in next 3 years

Global conglomerate Lenovo has announced plans to hire 12,000 R&D professionals over the next three years, as it focuses on technologies from edge computing to metaverse.

Google removes 93,067 pieces of bad content in India in Feb

Google said that it also removed 338,938 pieces of content as part of automated detection in the above-mentioned period

European Union agrees on new digital rules to rein in Big Tech dominance

EU officials agreed late Thursday on wording for the bloc's Digital Markets Act, part of a long-awaited overhaul of its digital rulebook

New UK bill to send tech CEOs faster to jail if fail to comply

The UK government said that its revised online safety law will speed up the process against tech CEOs to send them to jail if their platforms fail to comply with the Online Safety regulation.

Exodus at tech firms continues from Russia-Ukraine, impacting operations

Companies are taking all possible steps to keep employees safe and to ensure their businesses aren't impacted

Russia:Google, Meta face penalties as deadline passes to open local offices

Russian legislation has obliged foreign social media companies with more than 500,000 daily users to open local offices since July 2021 or be subject to restrictions as severe as outright bans

Tech cos going public, ESG key challenges to capital markets: Sebi chief

Sebi chief Ajay Tyagi on Thursday said the increasing trend of new age technology companies, which are generally loss making, accessing public market is a key challenge to the capital markets

Wipro signs a 5-yr $150-mn strategic engagement deal with ABB Info System

ABB is a leading global technology company that energises the transformation of society and industry to achieve a more productive, sustainable future