Google will take learnings from its successful Google Pay platform in India to other global markets, Alphabet CEO Sundar Pichai said. Alphabet is the parent company of Google. “We’ve had a lot of traction with our payments product over the past 18 months. We had a tremendously successful launch in India from which we learned […]
Archives for 2020
Shein’s importer Sino India Etail withdraws plea against Customs
Sino India Etail, an importer for Chinese apparel and lifestyle brand Shein, has withdrawn a petition that had challenged the seizure of hundreds of its packages and the sealing of its warehouse in Mumbai by the Customs department. The company withdrew the writ petition filed in the Bombay High Court against the Office of the […]
Zomato lets go of exclusivity for cloud kitchens
Zomato haswithdrawn exclusivity rights for restaurants operating out of its cloudkitchen facility, according to six brands using the service and emails seen by ET.The move — which essentially allows these restaurants to list on rival platforms such as Swiggy — underlines a major shift in strategy for Zomato, which had pegged exclusive supply on its […]
Paytm to monetise offline merchant base; plans to cut losses by half: CEO
Vijay Shekhar Sharma Financial services and commerce platform Paytm plans to cut annual losses by half over the next two years, CEO Vijay Shekhar Sharma told ET. This will be done by monetising its offline merchant base, scaling its merchant network, and rolling back on discounts across businesses, he said. The SoftBank and Alipay-backed company […]
Final rules determine maximum vehicle values
The IRS updated the fleet-average and vehicle cents-per-mile valuation rules described in Regs. Secs. 1.61-21(d) and (e), respectively, to align the limitations on the maximum vehicle fair market values (FMVs) for use of these special valuation rules with recent statutory changes made to the depreciation limitations in Sec. 280F (T.D. 9893). The regulations finalize, without […]
Sony raises outlook on strong sensor demand, warns of virus risks on supply chain
TOKYO (Reuters) – Sony Corp raised its annual profit outlook on strong sales of smartphone image sensors after reporting a smaller-than-expected decline in quarterly profit, but it warned of an impact from the Wuhan coronavirus on its global supply chain. Demand for image sensors has been strong enough that even with its plants operating at […]
Stocks making the biggest moves premarket: Clorox, McKesson, Sirius XM, Alphabet & more
Check out the companies making headlines before the bell: Clorox (CLX) – The household products maker beat estimates by 15 cents a share, with quarterly earnings of $1.46 per share. Revenue also topped estimates and Clorox raised its full-year outlook as cost savings and price increases made up for increased costs. McKesson (MCK) – The […]
$1billion investment is not to provide deep discounting or cover losses: Amazon India
Ecommerce giant, Amazon India, is categorical that the $1 billion investment announced by Jeff Bezos during his recent trip to India would be used for long-term development of its operations and not for deep discounting or cover losses. “A lot of our investment is focused on the long-term and if we only look at the […]
Predictions Around Blockchain and Data for IT leaders
Blockchain technologies will ignite the era of decentralization, where customers own their data and decide how it is used. IT leaders should start to rethink their strategies. Blockchain has introduced alternative methods for tracking and managing customer data. IT leaders need to understand the direction of decentralized technologies — or risk falling behind. Scan the […]
Paytm eyes onboarding 10M merchants with addition of PoS machine, new solutions
Paytm on Tuesday said it aims to add close to 10 million merchants to its platform over the next 12-18 months as it brings new features to its payments platform. The company, which has introduced a new all-in-one payment gateway and business solutions as well as an Android-based point of sale (POS) machine, currently has […]