business news

Ola Electric, the electric vehicle (EV) company led by Bhavish Aggarwal, has announced plans to lay off at least 500 employees as part of a significant restructuring initiative aimed at improving operational efficiency and addressing mounting losses. The company, which has faced controversies, including a government probe and consumer complaints, is making the move to cut redundancies and streamline its workforce in an effort to drive profitability.

In a fresh legal development, Byju Raveendran, the founder of the embattled ed-tech giant Byju's, has been accused of attempting to secretly regain control of the company using hidden loan funds. According to a recent Bloomberg report, Raveendran allegedly hid millions of dollars of loan proceeds to purchase back a software company that had been taken over by an American trustee.

Food delivery giant Zomato has issued a statement addressing the growing concerns about suspicious "one-dish" restaurants on its platform, which were reportedly selling items with vague names at high prices. These restaurants, some of which listed items like "Naughty Strawberry" and "Merry Berry," had raised suspicion among users who feared that the dishes were code names for illicit items such as drugs or vapes.

In a significant move, Prasar Bharati, India's public broadcaster, is all set to launch its much-awaited streaming platform on November 20 during the International Film Festival of India (IFFI) in Goa. The service, which has been in development for over a year, will offer a range of content from the archives of Prasar Bharati, including programming from its flagship channels, Doordarshan and All India Radio.

In a significant move, Karnataka’s popular dairy brand, Nandini, will officially make its debut in the national capital on Thursday. This marks the brand’s first venture into North India, as it looks to expand its reach beyond the state of Karnataka. The launch event is set to be a high-profile occasion, with Karnataka Chief Minister Siddaramaiah and Finance Minister Nirmala Sitharaman in attendance.

A viral post by Rishabh Jain, an IIT Bombay graduate and entrepreneur, has brought attention to the escalating costs of school fees in India. Jain, a Jaipur-based father, raised alarm over the high fees being charged by reputed schools in the city, specifically highlighting a fee of over ₹4 lakh …

Elon Musk's SpaceX has successfully launched the Indian Space Research Organisation's (ISRO) GSAT-N2 communication satellite, marking a significant milestone in the growing commercial collaboration between ISRO and SpaceX. The launch took place on Tuesday from the Canaveral Space Force Station in Florida, with SpaceX's Falcon 9 rocket carrying the advanced satellite into space.

British band Coldplay has added a second concert date in Ahmedabad following an overwhelming demand for tickets for their first show. The band, which is set to perform at Narendra Modi Stadium on January 25, 2024, saw the tickets for that date sell out within minutes of going live. In response to the massive fan turnout, Coldplay announced a second performance at the same venue on January 26, 2025.

In a welcome relief to consumers, the price of tomatoes has dropped by more than 22% over the last month, with the average retail price falling from ₹67.50 per kilogram on October 14 to ₹52.35 per kilogram on November 14. According to a statement issued by the Department of Consumer Affairs on Sunday, the decrease in tomato prices is attributed to an improved supply of the vegetable across major markets in the country.

Zoho CEO Sridhar Vembu recently caused a stir on social media with his remarks about the importance of learning Kannada for those who consider Bengaluru their home. Vembu’s comment came in response to a post on X (formerly Twitter) that showed two men wearing T-shirts with “Hindi National Language” written on them. The caption read, “Perfect T-shirt for Bangalore trip,” which seemed to imply that Hindi was the primary language in the city.