business news

SpiceJet, one of India's leading airlines, has taken decisive steps to bolster its operational capacity with the finalization of a lease agreement for 10 additional aircraft. This move, announced by the airline on Thursday, aims to cater to the escalating demand for air travel, especially during peak seasons, ensuring seamless connectivity and enhanced services for passengers.

In a move that has sent ripples through the tech industry, International Business Machines Corp (IBM) has reportedly initiated layoffs within its marketing and communications division. The decision, disclosed in a brief seven-minute meeting by Jonathan Adashek, IBM's Chief Communications Officer, has left many employees grappling with uncertainty.

In a groundbreaking move that is set to reshape the landscape of software engineering, US-based startup Cognition has unveiled Devin, the world's inaugural AI software engineer. With the ability to construct fully functional websites and videos from mere prompts, Devin marks a significant leap forward in artificial intelligence-driven programming.

Former US President Donald Trump reportedly approached SpaceX and Tesla CEO Elon Musk last summer about purchasing his social media platform, Truth Social, according to a report from the Washington Post. Despite discussions between the two influential figures, the proposal did not result in a deal.

In a surprising turn, US consumer prices experienced a notable increase, throwing a wrench into expectations of potential interest rate cuts by the Federal Reserve this month. According to data released by the Labor Department on Tuesday, the consumer price index (CPI) surged by 3.2 percent annually in February, marking a significant jump from the previous month's figures. Additionally, the CPI climbed by 0.4 percent in February alone.

The state cabinet of Maharashtra has given its preliminary nod to the acquisition of the Ghatkopar-Versova Mumbai Metro One, which is jointly owned by Reliance Infrastructure Limited (R-Infra) led by Anil Ambani and the Mumbai Metropolitan Region Development Authority (MMRDA). Anil Ambani's stake in the venture has been estimated at ₹4,000 crore.

Edtech giant Byju's has made the decision to shift its workforce to remote work, vacating all its office spaces across the country except for its headquarters in Bengaluru. With approximately 14,000 employees affected by this move, the company aims to navigate through its ongoing financial crisis.

In a bid to bolster connectivity to the upcoming Navi Mumbai International Airport (NMIA), the City and Industrial Development Corporation (CIDCO) has unveiled plans to extend the Navi Mumbai Metro (NMM) network with two new routes in the Navi Mumbai Airport Influence Notified Area (NAINA).

In a bold move targeting the video streaming landscape, Elon Musk, CEO of social media platform X, announced plans to launch a TV app aimed at Amazon and Samsung users. Set to debut next week, the app will offer long-form video content, marking a significant expansion of X's offerings.

Microsoft revealed on Friday that a Russian state-sponsored hacking group, known as Midnight Blizzard, is attempting to breach its systems once more, utilizing information pilfered from the tech giant's corporate emails in January.