Business News

Ola has decided to rework on governance and compliance processes by restructuring and redesigning the company. To start off, the company will lay off 5-8% staff, accounting to around 350 employees, of the total 4,500, according to sources close to the company.

India’s state-run airline will have to cease operations if it is not privatised, the country’s junior minister for civil aviation said in parliament on Wednesday, in response to a lawmaker’s question on the subject.

Ola has now expanded its operations to London and the company has announced the beginning of registration of licensed drivers in the city, which will be followed by passenger service in the coming weeks.

Huawei CEO Ren Zhengfei has reiterated its warning to the US government that once the company's Harmony operating system (OS) becomes operational, it may affect companies like Google as there will be no turning back from there.

The penny stock hasn’t declined for a single session since September 9 in a rally that has lifted it to 7.31 rupees from its record-low close of 95 paise. That’s the longest winning streak since the company’s trading debut in 2009.

Google fired four employees for what the technology giant said were violations of its data-security policies, escalating tension between management and activist workers at a company once revered for its open corporate culture.

Facebook Inc. was accused in a lawsuit of censorship by a user who says the company hasn’t explained to him why it deleted three of his posts that named “the alleged Ukraine whistle-blower" who kicked off the presidential impeachment inquiry.

Uber was stripped of its license to carry paying passengers in London for the second time in just over two years, pending an appeal, over a “pattern of failures” on safety and security. Regulator Transport for London revoked it on grounds that it did not see the service fit and proper, and improving on its security failures.

Shares in Chinese e-commerce giant Alibaba have surged in its Hong Kong trading debut in one of the year's most anticipated stock offerings. The firm, which is already traded in the US, raised around $11.3bn (£8.8bn) in its secondary listing.

With Jet Airways shutting down in April, the Lufthansa airline group is planning to "strengthen" its partnership with Indian airlines like Vistara and Air India in 2020. The airline does not plan to start any other flight service in 2020, George Ettiyil, Senior Director, South Asia, Lufthansa Group, said.

Swiggy has recently forayed into grocery delivery, concierge services and cloud kitchens, among others. Bengaluru-based foodtech giant is now reportedly planning to generate 30% of its overall revenue from beyond its food delivery service in coming years.

For the first time, Amazon directly linked comments by the president to the award of the Joint Enterprise Defense Infrastructure contract, also known as JEDI, to Microsoft last month. Amazon's formal challenge to massive Pentagon award uses videos that mark potential influence exerted by Trump.

OYO and Apax have signed nondisclosure agreements (NDAs) with CCD’s registered firm, Coffee Day Enterprises Limited (CDEL) and are in talks to buy a stake in the group’s coffee business.

Chinese online retail titan Alibaba could raise almost $13 billion in Hong Kong's biggest IPO for nearly a decade after pricing its shares for the mega sale. Alibaba will sell 500 million shares to investors at HK$176.

India has agreed to sell stakes in five state-run companies, including oil refiner Bharat Petroleum Corp (BPCL), finance minister Nirmala Sitharaman said on Wednesday, a move that could help bridge a widening fiscal gap.