Business News Northeast - Latest Business Northeast News & Updates

27 Jun

OYO: Abhishek Thard elevated as VP

editor0 CommentsBusinessHOTELS, India, OYO

OYO India & South Asia has elevated Abhishek Thard, a young talented professional originally from Guwahati to Vice-President position. While the duties and responsibilities of Abhishek Thard remain largely unchanged, the designation accords him a greater role both in business decision making and accountability. Abhishek Thard, as Region Head - West II, is responsible for managing hotel operations and on ground teams in Ahmedabad, Jaipur and Pune and Goa. OYO is a strong believer in the principle of Distributed Leadership and has elevated five other leaders along with Abhishek Thard to Vice-President positions. Keeping its commitment to talent and recognising…

27 Jun

Amazon Looks to Self-Driving Future by Acquiring Zoox

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Amazon said Friday that it is buying self-driving technology company Zoox, which is developing an autonomous vehicle for a ride-hailing service that people would request on their phones. Seattle-based Amazon did not disclose how much it is paying for Zoox, which was founded six years ago in Foster City, California. Analysts pegged the purchase price at over $1 billion. The online retailing giant said Zoox will keep running as a separate business and continue to develop its own autonomous vehicle. "We're excited to help the talented Zoox team to bring their vision to reality in the years ahead," said Amazon's Jeff…

27 Jun

Coca Cola Pauses Paid Advertising On Social Media For A Month

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Amid widespread protest around the world against racism, Beverages major Coca-Cola has decided to pause its paid advertising on all social platforms globally for a period of thirty days. Issuing a statement, the company declared that there is "no place of racism on social media", and therefore, it will reassess its advertising policies. The statement put out on June 27, stated that the company expects "greater accountability and transparency" from all its social media partners. The statement has been undersigned by the company's Chairman and CEO James Quincey. The statement will take effect from July 1.

26 Jun

Domestic flight ops capacity raised to 45% from 33%, new routes on offer

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The government on Friday allowed domestic airlines to increase their flight operations to 45% capacity from the current 33%, on the day it announced that internal flight operations will remain suspended till July 15. The civil aviation ministry has asked the Directorate General of Civil Aviation (DGCA) to prepare the new schedule with airlines with additional routes. The domestic airlines resumed services on May 25 with limited operations and had said at the time that services will be scaled up in a gradual manner.

26 Jun

Google Will Pay News Publishers for Content amid tensions with industry.

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Google says it will start paying some publishers for their news content, in a move that could pave the way for reduced tensions between the internet search giant and the beleaguered news industry. The company said on Thursday that it plans to launch this year a licensing programme to pay publishers for “high-quality content”. This programme will help participating publishers monetise their content through an enhanced storytelling experience," Bender said, describing it as a significant step forward in how the company will support high-quality journalism. But some observers were quick to question the program, dismissing it as more of a…

25 Jun

New Google update wipes users’ location, web history after 18 months.

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Alphabet's Google said on Wednesday it will automatically delete some location history after 18 months for new users and make it easier for everyone to access its search, Maps, and YouTube apps without being tracked. The updates to Google's privacy controls arrive as the world's largest search engine faces heightened scrutiny on its data collection practices. New privacy laws in California and Europe have prompted Internet companies to adjust practices over the last two years. Several lawsuits by consumers and US state attorneys general in the last few months have accused Google of deception in data gathering.Under Google’s updated settings,…

25 Jun

Motorcycles To Be Banned In Vienna

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The capital of Austria and home of motorcycle brand KTM, has decided to ban motorcycles from the city centre of Vienna. The latest ban comes just after a ban on motorcycles imposed in the state of Tyrol in Austria, which has some of the most stunning roads in Europe, perfect for motorcycle rides. However, unlike the ban in Tyrol, which affects motorcycles only and not sports cars, the ban in the city centre of Vienna includes all kinds of motorised vehicles, including even electric bikes.

25 Jun

Alibaba’s Jack Ma Is No Longer China’s Richest Person. Who Replaced Him

editor0 CommentsBusinessALIBABA, JACK MA

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people. The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year. The rallies have propelled the wealth of their founders, with an added twist:…

24 Jun

Government Extends Deadline For Filing This Year’s I-T Returns Till 30 November

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The government on Wednesday further extended the deadline for filing income tax (I-T) returns for the financial years 2018-19 and 2019-20. A press note released by the Central Board of Direct Taxes said that the last date for filing returns for the financial year 2019-20 (Assessment Year 2020-21) has now been extended till 30 November, 2020. Similarly, the deadline for filing original as well as revised returns for 2018-19 (Assessment Year 2019-20) is now 31 July, 2020. Earlier, these dates were respectively 30 June and 31 October. The last date for furnishing tax audit report has also been extended till 31 October, the press…

24 Jun

Gold Touches Nearly 8-Year High As Rise In COVID-19 Cases

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Gold prices surged to their highest in nearly eight years on Wednesday, while global shares cooled as signs of an acceleration in coronavirus cases kept investors on edge. Fuelling concerns about the prospects for an economic recovery was data showing several US states seeing record infections and the deaths in Latin America crossing 1,00,000, according to a tally by news agency Reuters. The New York Times reported the European Union was prepared to bar US travellers because of the surge of cases, putting it in the same category as Brazil and Russia. Adding to the gloom, European Central Bank chief…