Spotify planning layoffs as soon as this week to cut costs

Meta Platforms Inc., Amazon.com Inc., Google parent Alphabet Inc. and Microsoft Corp. also recently announced staff reductions. Tech companies added to their headcount during the pandemic but were forced to make reductions in response to a shaky economic outlook.

Cocoa Climbs on Signs of Resilient Demand Despite Record Price

Cocoa prices surged in New York due to steady demand despite record-high prices, with grindings data showing only a slight decline. Traders are concerned about the impact of the cocoa shortage on demand and processing. Prices more than doubled due to poor West African harvests. Floods in Nigeria may further strain cocoa supplies. Cocoa crisis is driving up chocolate costs.

Airbots Aerospace Achieves DGCA Type Certification for Surya Shakti 15L Drone: A Milestone Towards Agricultural Empowerment in India

Airbots Aerospace, an Indian agri-tech startup, achieves DGCA type certification for its Surya Shakti 15L Drone, revolutionizing agricultural spraying in India. The drone offers efficiency, precision, and safety in pesticide application, aligns with government schemes, and empowers women SHGs. CEO Vishal Kapadia highlights the company's dedication to empowering farmers and transforming agriculture through innovation.

Atal Incubation Centre – Centre for Cellular and Molecular Biology signs agreement with Thermo Fisher Scientific to advance innovation in India

Hyderabad's Atal Incubation Centre - Centre for Cellular and Molecular Biology partners with Thermo Fisher Scientific to equip its Centre for Innovation with cutting-edge technology for start-ups in healthcare and biotechnology. The agreement aims to support research initiatives, reduce time-to-market for new products, and foster innovation in the ecosystem. Thermo Fisher Scientific is a global leader in serving science with a focus on making the world healthier, cleaner, and safer.

NSE to launch derivatives on Nifty Next 50 index from April 24

The National Stock Exchange will launch derivative contracts on the Nifty Next 50 index from April 24. These contracts will complement existing index derivatives and represent a middle ground between Nifty 50 and Nifty Midcap Select indices. The index has top sector representation from financial services, capital goods, and consumer services. NSE has introduced various derivative products in recent years, expanding its offerings.

Rio, Saudi Arabia Said to Vie for Stake in First Quantum Mines

Rio Tinto and Saudi Arabia's Manara Minerals are considering bids for a stake in First Quantum Minerals' Zambian copper mines. Mitsui, Sumitomo, Zijin Mining, and Jiangxi Copper are also interested. First Quantum seeks to sell a minority stake due to financial challenges. Interest in copper assets is high due to increasing demand for electric vehicles and renewable energy. Some major firms are exploring opportunities in Africa despite past reluctance.

Apple CEO to Meet Singapore Leader to Wrap Whirlwind Asia Tour

Apple CEO Tim Cook is in Singapore to meet leaders amid Southeast Asia tour seeking growth markets and manufacturing locations outside China. The visit highlights Apple's focus on diversifying beyond China and tapping into the Southeast Asian market. Cook has met with Vietnam and Indonesia leaders, exploring investment opportunities. The trip may lead to more aggressive sales strategies in the region dominated by Android phones.

Saudi Arabia Moves Closer to $1 Billion Barrick Pakistan Deal

Saudi Arabia is nearing a deal to invest $1 billion in a Pakistan mine controlled by Barrick Gold Corp. The Saudi sovereign wealth fund-backed company, Manara Minerals Investment Co., could announce a preliminary agreement in the coming weeks. The potential investment is part of Saudi Arabia's interest in various sectors in Pakistan, including metals and mining. Talks are ongoing, and the project is set to start production in 2028.

JNK India's ₹650-cr IPO to open on Apr 23; sets price band at ₹395-415/share

Heating equipment maker JNK India Ltd sets IPO price band at Rs 395-415 per share for Rs 650 crore offering. The IPO, open for subscription April 23-25, includes fresh equity issue and Offer-for-Sale by promoters and shareholder. Proceeds for working capital and general purposes. Company's revenue and profit show growth. IIFL Securities and ICICI Securities are the lead managers. Listing on BSE and NSE.

X working with Pakistan government to 'understand concerns' over ban

Social media platform X is working with Pakistan's government to address security concerns during an ongoing two-month ban. The platform, formerly known as Twitter, has been mostly inaccessible since February 17, following political unrest. The Sindh High Court has ordered the government to restore access within a week, with further actions expected if not complied with.

Businessabc.net Rebrands from Openbusinesscouncil.org And Unveils The Top 10,000 Public Companies Market Cap integrating AI Blockchain Technologies

Businessabc.net, part of the ztudium Group, is a digital marketplace empowering SMEs with tools for digital transformation, offering services like B2B, B2C, and multi-store e-commerce. With partnerships with global organizations, the platform aims to bridge the digital gap for businesses worldwide. Through smart contract verified certifications and a Top 10,000 Public Companies Market Cap Index, Businessabc.net provides valuable insights and opportunities for growth.

IMF ready to support Sri Lanka's discussions with bondholders

The IMF is ready to support Sri Lanka's discussions with bondholders after failing to reach a debt restructuring agreement earlier. Concerns arise over the delay in receiving the third tranche of its IMF program. Sri Lanka will consult with the IMF to assess if the latest proposals align with bailout program parameters. The country's financial crisis worsened with record low reserves in 2022.

Oil Holds Sharp Drop After US Stockpiles Expand to 10-Month High

Oil prices remained under pressure due to conflicting signals, including rising stockpiles and geopolitical tensions. Brent traded above $87 a barrel, while WTI was near $83. US crude inventories rose, overshadowing Middle East tensions. US sanctions on Venezuelan oil were reinstated, with new sanctions on Iranian oil also in focus. Despite OPEC cuts and geopolitical risks, prices have faltered, with speculation of hitting $100 a barrel diminishing.

UBS layoffs: Next round of job cuts planned in Credit Suisse integration

UBS Group is reportedly planning job cuts post its Credit Suisse takeover, affecting over a hundred positions in its global investment bank. The layoffs are expected in wealth management and markets units in the upcoming weeks. The merger was arranged by Swiss authorities in March 2023 to prevent Credit Suisse's collapse. UBS had earlier cut over 3,000 jobs in Switzerland and 70% of staff in Hong Kong-based securities research unit.

Micron set to get $6 billion in chip grants from US: Report

The U.S. Commerce Department is reportedly set to grant over $6 billion to Micron Technology for domestic chip factory projects, marking the largest private investment in American history according to New York Governor Kathy Hochul. The funding, part of President Joe Biden's CHIPS Act, aims to secure 50,000 jobs and a $100 billion investment in the U.S. semiconductor industry.

Elon Musk now wants Tesla investors to approve his $56 billion 2018 salary

Tesla Inc. will hold a new vote on Elon Musk's compensation after a court voided a $56 billion award from 2018. The company will also vote on moving its state of incorporation to Texas. Chair Robyn Denholm criticized the court's decision, while a shareholder sued over Musk's pay being excessive. Musk, who owns about 13% of Tesla, expressed interest in AI and robotics unless he has a 25% stake. Tesla shares rose 1.1% before regular trading, dropping 37% this year.