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Luxury hotel chain Hilton Worldwide recently said that it would reduce its corporate workforce by 22% due to the impact of the coronavirus pandemic on the hospitality industry. The move is expected to impact about 2,100 employees globally. The hospitality industry has been amongst the worst affected due to the coronavirus pandemic and subsequent lockdowns.…
German automobile manufacturing giant Volkswagen recently announced that it has increased its stake in US-based solid state battery company QuantumScape. The automaker has recently invested another $200mn in the Stanford University spinout startup to boost the development of solid-state battery technology that aims to increase the ranges of electric cars and shorten charging times. “We…
Mumbai-based rural fintech startup Jai Kisan recently announced that it has secured ₹30Cr in pre-Series A funding round led by Arkam Ventures. The funding round also saw participation from NABVENTURES Fund I,the investment arm of agriculture and rural development institution NABARD. This is NABVENTURES maiden investment in any startup. The funding round also saw participation…
Sweedish automobile manufacturer, AB Volvo recently said it plans to cut its white-collar workforce by around 4,100 positions during the second half of 2020 due to the effects of the COVID-19 pandemic. The recent development at Volvo follows a similar measure taken by fellow truck maker Scania to reduce jobs due to the coronavirus pandemic.…
The financial arm of Volvo Group, Volvo Financial Services recently announced that it has appointed Johan Hoff as the company’s President for Europe, Middle East and Africa region. His appointment will come in effect from July 1st. He will be responsible for developing Volvo Financial Services’ customer and Volvo Group business area relations in Europe,…
Utah-based edtech company Instructure recently announced that it has appointed Steve Daly as the company’s new Chief Executive Officer, effective July 1. Daly’s appointment comes less than three months after Instructure sold itself to private equity firm Thoma Bravo and tangling with shareholders who had laid out a string of complaints long before the sale.…
German fashion house Hugo Boss recently announced that it has appointed former Tommy Hilfiger head Daniel Griedar as the company’s new Chief Executive Officer. Griedar will start with his position on June 1, 2021, the company said. He will be succeeding Mark Langer, who will step down on September 30, 2020 after a tenure of…
Titagarh Wagons Limited, flagship Company of the Titagarh Group, one of the market leaders in the railway rolling stock (trains and freight wagons) business in India and Italy, announced that it has entered into an exclusive cooperation agreement with ABB, to address the large and growing business of propulsion equipment (traction converters) for the Indian…
Tata Consultancy Services, a global IT services, consulting and business solutions organization, announced that it has been named a Leader in the Everest Group PEAK Matrix for IoT Services, for the second consecutive year. Additionally, it was named a Star Performer for top quartile year-on-year improvement in its scores. According to the report, TCS’ considerable…
InCred, a new-age financial services group that leverages technology and data-science to make lending quick and easy, announced that it has acquired fintech platform Qbera, according to an ETtech report. The acquisition will help InCred increase its distribution reach while also leveraging Qbera’s existing partnerships to co-originate loans and expand its portfolio of consumer loans,…
Porsche Cars North America announced that it has appointed Frank Wiesmann as Manager, Product Communications. In his new role, Wiesmann will oversee all product, motorsport and brand heritage focused communications for Porsche in the United States, and report directly to Angus Fitton, Vice-President of Public Relations. Prior to this role, Wiesmann held the position of…
Larsen & Toubro Infotech, a global technology consulting and digital solutions company, announced that it has introduced LTI SafeRadius, a GDPR-compliant return-to-work app to ensure workforce well-being and enhance operational efficiency as employees return to work in a phased manner across industries. The app provides rich and intuitive operational risk analysis by recording, processing, integrating…
The Asian Infrastructure Investment Bank, a Beijing-based multilateral development bank with a mission to improve social and economic outcomes in Asia, announced that it has approved a $750 million loan to India to assist the government to strengthen its response to the adverse impacts of the COVID-19 pandemic on millions of poor and vulnerable households.…
Outreach, a US-based sales engagement platform that accelerates revenue growth by optimizing interactions throughout the customer lifecycle, announced that it has closed a $50 million funding round led by Sands Capital with participation from Salesforce Ventures. New investor Operator Collective will be joining existing investors which include Lone Pine Capital, Spark Capital, Meritech Capital Partners,…
Shell and IBM launched Oren, a global B2B Digital mining services marketplace platform, co-developed by the companies aimed at helping mining companies find solutions related to safety, sustainability, mine planning and operational efficiency. Oren aims to accelerate the digitization of the mining industry, speed up the transformation of mining workflows and build in more operational…