ASCI has issued an advisory to LinkedIn influencers to disclose connections with brands they promote, aiming to maintain adherence to regulatory standards. In the past week, 60 cases were flagged for non-disclosure, with 56 under investigation. This advisory seeks to prevent misleading practices, ensuring transparency and the integrity of influencer marketing.
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Wipro's revenue dropped 0.7% year-on-year in the Dec quarter but met its guidance, with a forecasted growth of -2% to 0% for the next quarter. The company reported a positive outlook with increasing AI spending, a good pipeline, and improved operational efficiency. Wipro's headcount reduced by 1,157 employees.
India risks facing a shortfall of over a million skilled AI professionals by 2027, jeopardizing its potential to become a global AI talent hub. The increasing demand for AI expertise necessitates urgent reskilling and upskilling efforts to bridge the significant skills gap.
Economic forecasters anticipate slower growth, higher unemployment, and faster inflation in the US, with increased chances of a recession. Indications of a slowdown emerge from business and consumer sentiment, although actual activity remains solid. President Trump remains firm on implementing tariffs despite market responses, raising concerns about the potential economic impact and possible effects on his approval ratings.
Sebi warned Ola Electric after founder Bhavish Aggarwal posted on social media about expansion plans before notifying stock exchanges. Aggarwal announced the target to expand retail stores from 800 to 4,000 by December 20, breaching regulations on timely disclosure of price-sensitive information.
Airtel and Reliance Jio have announced deals to market Elon Musk's Starlink satellite internet in India, pending regulatory approvals. These partnerships aim to enhance network coverage, especially in rural and remote areas where connectivity is limited. Satellite internet services will, however, be more expensive and initially cater to enterprise sectors.
Reliance Industries has acquired oncology-focused healthcare platform Karkinos for Rs 375 crore through its subsidiary Reliance Strategic Business Ventures. Karkinos, founded in July 2020, specializes in early cancer detection and treatment. The acquisition was approved by the National Company Law Tribunal without requiring additional regulatory approvals.
Joann Inc, the fabric and crafts retailer, is shutting down all stores after 80 years of operation. Despite efforts to keep the company afloat, financial struggles and weak consumer demand led to its decision to close following a recent acquisition by GA Group.
The plywood and MDF board industry in India, which initially opposed the government's quality control order, now supports its implementation to benefit consumers and enhance industry capacity utilization. Over 200 items, including furniture and steel products, will be subjected to QCOs to ensure international quality standards, boosting investments and local production.
Budget 2025 income tax slab changes FY 2025-26: Finance Minister Nirmala Sitharaman presented Budget 2025 addressing the middle class by increasing the rebate limit under Section 87A to INR 12 lakh and enhancing the basic exemption limit to INR 4 lakh.
The finance ministry's report indicates that the combination of RBI's monetary policy and structural factors may have led to the economic slowdown. The ministry highlighted slowed urban consumption and cautious corporate hiring practices as contributors. The report anticipates improved growth in the second half of FY25, while stressing the need for a comprehensive commitment to sustaining growth amidst global uncertainties.