Photo: Business Standard
India Covers Loss Faced In In First Quarter Amid Discounted Fuel From Russia
India’s three state-owned oil firms which supply 90% of the country’s fuel suffered a record Rs 18,000 crore loss in the first quarter of 2022. The loss was in view of not raising prices till UP election results in March, despite crude rates increasing globally. However, by defying western pressure to import Russian oil at discounted rates since February 2022, India has already saved Rs 35,000 crores.
Tags: Fuel, Russia Import, Indian government, fuel prices, Loss
Courtesy: Press Trust of India
Photo: Gadgets Garena
Netflix Subscriber Base Continues To Decline; Loss For 2 Consecutive Quarters For 1st Time In History
Netflix subscriber base is continuing to decline. On July 19, the firm announced its second-quarter earnings statement (Q2 2022), highlighting subscriber losses for two consecutive quarters for first time in history. It lost about 970,000 paid subscribers in June quarter, which was still less than the two million predicted. The streaming behemoth lost roughly 200,000 paid subscribers in March quarter (Q1 2022). Netflix presently has 220.67… read-more
Tags: Netflix, Subscribers, paid members, Loss, quarters
Courtesy: India today
Photo: Hindustan Times
IndiGo Suffers Huge Loss In Q4 2022 Amid Omicron Variant
Airlines IndiGo suffered a huge net loss of Rs 1,681 crore in the quarter ending March, said company on May 25. The airlines' Q4 loss was said to be 46.6% close to Rs 6,161 crores, more compared to the loss in 2021, which was Rs 5,806 crores. Notably, Covid-19's Omicron variant and deduction in travel demand was one of the major reason behind the loss.
Tags: IndiGo, Airlines , Quarter 4, omicron, Loss
Courtesy: Press Trust of India
Photo: Netflix/Twitter
Netflix Loses 2,00,000 Subscribers In Less Than 100 Days
OTT giant Netflix has lost over 2,00,000 subscribers in less than a hundred days. The company has chalked it up to the suspension of its services in Russia. The value of the firm's shares also sank by a quarter following the revelation. Netflix has shared that it may offer more affordable plans with advertisements, in order to win back the lost audience.
Tags: Netflix, Entertainment, streaming service, business, Loss
Courtesy: NDTV
Photo: Bleacher Report
Cristiano Ronaldo Announces Tragic Death Of Newborn Son
Footballer Ronaldo has announced the tragic death of his newborn son. The Portuguese footballer had been expecting twins with his girlfriend Georgina Rodriguez. While a baby girl was born, the male child could not survive. The 37-year-old posted an emotional message on Twitter, sharing that he was devastated by the loss, and that only the birth of the baby girl is now helping the couple get through these hard times.
Tags: Cristiano Ronaldo, Ronaldo, Loss, tragedy, footballer
Courtesy: Hindustan Times
Photo: The Hans India
Fire Breaks Out In Telangana Godown, Loss Of Rs 38 Cr Reported
A massive fire broke out in Telangana State Handloom Weavers Cooperative Society in the wee hours of April 12. The locals immediately informed the police and fire tenders, following which six fire brigades rushed to the spot, and started dousing the fire, which is yet to be complete. Although no casualties were reported in the incident, the TSCO had a loss of Rs 38 crores. Further investigation is underway… read-more
Tags: Telangana, Cooperative Society, Fire Outbreak, Loss, Fire Tenders
Courtesy: The New Indian Express
Photo: BBC
$315 Billion In Market value Evaporates After Apple's New iOS Privacy Policy
Four giant companies suffered a loss of $315 billion after Apple updated its iOS, in 2021. As per reports, users had to opt-in instead of opt-out allowing users to ad-track by social media apps like Facebook and Twitter. This change is estimated to cost Meta Platforms an estimated $10 billion in revenue, in 2022, informed CFO David Wehner. "We believe management's tone around iOS impact has deteriorated,'' stated JP Morgan.
Tags: Technology, Apple, new update, Loss, business
Courtesy: Business Insider
Photo: Entracker
Zomato Announces To Shut Its Grocery Delivery Service
Food delivery giant Zomato has announced that it's going to stop its grocery delivery service effective from September 17. Reportedly, the company took this decision due to multiple reasons such as poor customers experience, increasing competition, and delays in deliveries. Zomato also couldn't compete with grocery delivery platform Grofers' 10-minute delivery promise. While It's confident that its stake in Grofers will generate better income… read-more
Tags: ZOMATO, Grocery Delivery, Grofers, Loss
Courtesy: Money Control
Photo: Pinterest.com
Ford Motors To Soon Shut Down Its Indian Manufacturing Units
American Multinational Manufacturer Ford Motor Company will soon be shutting down its Indian Manufacturing plants and all operations in India. Reportedly, the announcement comes on September 9 as the company had to bear a heavy loss of almost $2 billion. "We are taking difficult, but necessary actions to deliver a sustainable Profitable Business," said Jim Farley, Ford Motors CEO.
Tags: Ford, closed, Manufacturing, Loss
Courtesy: Money Control
Photo: New Indian Express
Wistron Accuses Employees Of Damaging Property Worth Rs 437 Cr
Wistron India has filed a case on December 14 against their employees for destructing the iPhone manufacturing plant in Karnataka's Kolar district. The firm claimed a loss of Rs 437.70 crore including gadgets that were either damaged or stolen. Moreover, the factory's infrastructure as well as a few parked cars were also vandalised. Reportedly, Kolar Police have arrested 160 violators based on CCTV footage and workers' shift list.
Tags: iphone, Manufacturing, Loss, Damage, Theft, Infrastructure
Courtesy: The Indian Express
