Bengaluru-based Bike taxi startup Rapido recently announced that it has launched inter-city logistics service for businesses to deliver products at consumers’ doorsteps. Named ‘Rapido Store’, the service can be availed by both offline and online businesses. The company has said that the service is currently operational in Bengaluru, and Vijayawada and it further plans to…
Just days after signing an MoU with Great Wall Motor, the Maharashtra government is reportedly trying to stall the proposed $500mn investment by the company in the state due to the growing anti-China sentiment in the country. The recent development comes in the wake of a deadly border clash between soldiers of India and China.…
After food delivery companies Swiggy and Zomato secured state permissions to deliver alcohol at customer doorstep, Online retail giant Amazon is reportedly eyeing to enter the services. According to a Reuters report, Amazon India has secured clearance from the West Bengal government to deliver alcohol in the state. In a notice, West Bengal State Beverages…
Investment management company T. Rowe Price and its Foundation recently announced a $2mn commitment to organizations working to fight racial injustice. The donation is a continuation of the firm’s commitment to racial equity, which became a stronger focus following the 2015 Baltimore unrest resulting from the death of Freddie Gray, said the company The Foundation…
Toyota Kirloskar Motor India Ltd recently notified that two of its employees at the Bidadi manufacturing plant near Bengaluru, have tested positive for COVID-19. The company said that due to health and safety concerns of other employees, it has temporarily suspended operations at the plant. The automaker said in a statement that the two employees…
Chinese internet giant and TikTok parent company, ByteDance recently said that it plans to discontinue two of its social media platforms Vigo Video and Vigo Lite in India. The company has reportedly asked its users from its biggest overseas market to move to TikTok. In its message to users on Vigo apps today, ByteDance said…
The owner of clothing companies Zara and Massimo Dutti, Inditex recently said that it would be closing about 1,200 retail stores worldwide within the next two years. The recent decision by the company comes after it posted its first ever loss due to the coronavirus pandemic. Meanwhile the company also unveiled a $3.1bn plan to…
Indian drugmaker Cipla recently announced that it will acquire a 21.85% stake in health-tech startup GoApptiv in an all cash deal. This is reportedly Cipla’s second bet on any digital healthcare startup since last year. In a stock-exchange filing, the company said it will acquire a 21.85% stake in GoApptiv for a cash consideration of…
Foodtech unicorn Swiggy recently announced that it is planning to shut down its Mumbai-based on-demand premium food delivery service Scootsy. The Bengaluru-based company had acquired Scootsy in 2018 but let it operate as an individual entity. The company now plans to merge the brand under the bigger umbrella of its main brand to establish its…
The novel coronavirus outbreak has pushed the entire world to witness a pandemic, circulating waves of panic across the globe. Due to uncertainty in business owing to the current scenario, businesses are slowing down bringing the growth of the economy to a halt. There has been a sudden slow-down of the economic activities at an…
The Indian food delivery market has been in a soup due to the government imposed lockdowns in an attempt to contain the spreading of coronavirus. Online delivery companies like Zomato and Swiggy forayed into grocery and essential items delivery to keep business running amid losses due to the lockdowns. The central government allowed the sale…
Management consulting firm Arthur D. Little recently announced that it has acquired US-based business technology research company Cutter Consortium. The company also notified that it has acquired France-based Presans. In an official statement, the company said that “by combining its own expertise with an existing community of independent experts, ADL expands its consulting ecosystem to…
Chinese internet giant Tencent Holdings Ltd is reportedly in talks to invest $200mn in Warner Music Group. The recent development from Tencent comes just days ahead of the record company’s slated initial public offering. According to a Wall Street Journal report, Warner Music is also working to line up institutions that, along with Tencent, would…
Technology major Cisco Systems, Inc. recently announced that it has agreed to acquire privately-held software maker ThousandEyes, Inc. The deal is worth nearly $1 billion, Bloomberg reported earlier, citing sources. The recent development at the company was anticipated by industry analysts since Cisco bought AppDynamics in 2017 for $3.7 billion just before the IPO. The…
After briefly suspending operations at its Chennai factory, Finnish telecom equipment manufacturer, Nokia said that it has resumed operations at the plant with minimum required strength. Earlier last week, the company had suspended operations as 42 of its employees were reportedly tested positive for COVID-19. Although Nokia is allowed to run the factory with 33%…