Byju’s to announce its FY22 results in the second week of October
Indian edtech company Byju's has postponed the release of its FY22 results to the second week of October, causing concern among regulators and stakeholders. The delay follows the resignation of the company's former auditor, Deloitte, earlier this year. Byju's has recently experienced a series of challenges, including the departure of senior executives and the need to repay a $1.2 billion loan. As part of a restructuring effort, the company has appointed Arjun Mohan as its India CEO and is in the process of letting go of 4,000-5,000 employees.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7Id2TK4
Italy plans to generate 1% of GDP, equivalent to €21 billion ($22.2 billion), through asset sales between 2024 and 2026, according to the Treasury's Economic and Financial Document. The move is aimed at reducing Italy's debt-to-GDP ratio, which is expected to decrease to 139.6% by 2026.
A senior Google executive referred to the company's search advertising business as "one of the world's greatest business models ever created" and compared it to selling drugs. The executive, Michael Roszak, made these comments in notes during a training session in 2017. The notes were used as evidence in the Justice Department's antitrust case against Google, which alleges that the company engaged in anticompetitive practices.
The Indian government plans to monetize around two trillion rupees ($24.1 billion) worth of highways in the coming years, according to ratings agency CareEdge Ratings. With the National Highways Authority of India expected to commission 4,000-4,500 kilometers of new roads annually over the next three years, the government can monetize these assets through an Infrastructure Investment Trust (InvIT) or toll-operate-transfer model.
U.S. consumer spending rose by 0.4% in August, but underlying inflation slowed to below 4.0%. Gasoline prices surged, leading to a 0.4% increase in the personal consumption expenditures (PCE) price index. However, when excluding food and energy, the PCE price index only increased by 0.1%. The core PCE price index increased by 3.9% on a year-on-year basis in August.
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