business news

Anant Yardi, an Indian-origin entrepreneur and CEO of Yardi Systems, has recently stepped into the role of CEO at WeWork, the coworking giant that faced financial turmoil and bankruptcy. Here are five key points about Anant Yardi and his journey with WeWork:

Finance Minister Nirmala Sitharaman emphasized on Friday that there has been “no leniency” in recovering bad loans from large defaulters, with the Enforcement Directorate (ED) attaching properties worth ₹64,920 crore from 1,105 such defaulters under investigation. Sitharaman's remarks came amidst opposition claims of loan waivers for industrialists during the Modi government, which she refuted in a series of posts on X, the social media platform formerly known as Twitter.

A recent LinkedIn post by HR professional Rubi Khan has gone viral, sharing a touching story that highlights Ratan Tata's well-known love for animals. The post tells the story of a dog residing on the grounds of Mumbai's iconic Taj Mahal Hotel and the special care it receives from the staff.

IndiGo, one of India's leading airlines, has rolled out a new feature aimed at enhancing the safety and comfort of female travellers. This innovative feature allows female passengers to view which seats other female travellers have selected during web check-in, providing them with the option to choose seats adjacent to other women. The feature is specifically designed for Passenger Name Records (PNR) with women travellers, whether they are travelling solo or as part of family bookings.

In a significant development in the fintech industry, Gautam Adani, the chairman of the Adani Group, is reportedly in discussions to acquire a stake in One 97 Communications, the parent company of Paytm. According to a report in the Times of India, talks between Adani and Vijay Shekhar Sharma, the founder and CEO of Paytm, have been ongoing for a while, with a recent meeting held on May 28 in Ahmedabad to finalize the deal's contours.

Elon Musk has sparked a heated debate on social media by accusing WhatsApp of exporting user data every night. The Tesla and SpaceX CEO took to his platform X (formerly Twitter) to voice his concerns, stating, “WhatsApp exports your user data every night. Some people still think it is secure.”

Kalanithi Maran and his firm KAL Airways have announced their intent to seek damages exceeding ₹1,323 crore from SpiceJet and its chief, Ajay Singh. This decision comes in the wake of the recent Delhi High Court order, which they plan to challenge.

In a recent podcast, Aircel founder Chinnakannan Sivasankaran revealed that political intervention led to the loss of his company, highlighting the challenges faced by entrepreneurs in India a decade ago. Sivasankaran pointed out that the business environment in India has significantly changed since then, providing more freedom to entrepreneurs today.

Paytm's parent company, One97 Communications, is reportedly planning significant job cuts amid financial challenges. The company may reduce its workforce by 15-20%, which translates to around 5,000-6,300 employees, in an effort to reduce employee costs by ₹400-500 crore this fiscal year, according to a report by the Financial Express.

Go First, which filed for bankruptcy in May last year, faced another major setback after EaseMyTrip founder and CEO Nishant Pitti announced the withdrawal of his bid for the defunct airline. The airline, once the fifth largest in India based on scheduled departures, has had its entire fleet of 54 aircraft grounded since May 3 last year. Earlier this month, the Directorate General of Civil Aviation (DGCA) de-registered all of Go First's aircraft, further complicating its revival prospects.