India

BYJU’s fires another 1,200 employees, more layoffs to follow

BYJU’s handed out pink slips to 2,500 employees less than six months back.

The Agriculture Accelerator Fund and a one-year extension of a tax holiday bode well for startups.

“Once the market stabilises, we will review our capital market strategy,” said the billionaire.

The economy is forecasted to grow 6-6.8% next fiscal year, down from 7% projected for the current year.

Wednesday’s stock losses saw Gautam Adani slip to 10th on Forbes rich list.

The group completed a $2.5b share sale a day earlier.

In Australia, the conglomerate operates the Carmichael coal mine and the Abbot Point port.

The anchor portion of the FPO attracted investors including Maybank Securities, and ADIA.

The company was last valued at $3.5b by Sequoia Capital.

The funds will enable Nourish You to double down on its investment towards R&D of new products.