Schools Financial News

Wipro’s leadership level, company’s chairman Rishad A. Premji, said the IT major has bred several CEOs that have gone out to build organisations, and it prides itself for being an entrepreneurial company. Speaking to shareholders in the virtual meeting, Premji said, “We pride ourselves that we have been an entrepreneurial company through our history. We have bred many many CEOs who have gone out to build organisations. The reality is sometimes people have opportunities that give them a bigger leap in their career, so people leave for those opportunities.”

Usha Chilukuri Vance, the wife of Donald Trump’s vice presidential pick, will step into a glaring spotlight when she introduces Sen. JD Vance on stage at the Republican National Convention on Wednesday night. The Southern California native brings a résumé studded with elite legal credentials to a campaign defined by the former president’s fiery populism.

Newme, an omnichannel fashion brand focused on new-gen customers, has raised $18 million in a funding round led by US venture capital firm Accel along with participation from existing investors including Fireside Ventures and AUM Ventures. This marks another instance of new consumer brands that are building their platforms online and offline simultaneously getting venture fund interest. Omnichannel fashion brands like Rare Rabbit, The Pants Project, and Virat Kohli-backed Wrogn have raised venture funding in recent weeks.

Nilesh Shah, MD & CEO, Envision Capital, says the first budget of any government's five-year term is the most important. So, to that extent, this Budget is going to be important from a couple of perspectives. One is essentially the agenda and the vision for the next five years. Second, whether the Budget continue to demonstrate continuity in terms of what it has been doing in the past, in terms of the focus being more on investment-led growth with some support coming from consumption. This is the first Budget from Modi 3.0. Could it appear in a new avatar because normally the first Budget of a new government is about fixing the short term, mending the medium term, and kickstarting the long-term? What could be the playbook for this year's Budget? Nilesh Shah: It has several kinds of implications and it is going to be probably the most important document in recent times because this Budget is probably going to unveil more like the vision for the next five years in terms of what direction India and the Indian economy take. It will surely have several measures that will not just sustain but also boost growth. We are an economy growing at 7- 8% and we need to sustain that growth rate and maybe higher for the next 5, 10, 15, 20 years. This Budget is going to be keenly watched from the medium to long-term perspective and will probably unveil several growth-boosting measures.

Siddhartha Sanyal, Chief Economist & Head-Research, Bandhan Bank, says there is no urgency on the part of the government or the finance ministry to cut down their projected fiscal deficit or the borrowing number at this moment, possibly they can afford to take a call on that at a later date. But in general, with the additional resources, they will start to allocate it in some ratio both for consumption and investment and not focus too much on cutting the fiscal deficit right away.

Edtech firm ByteXL has raised $5.9 million in a funding round led by early-stage venture capital firm Kalaari Capital as the lead investor, along with the Michael and Susan Dell Foundation. The funds will be used for expanding the team, advancing product development, rolling out new digital tools and technologies, and expanding outreach efforts to more colleges and universities across the country.

Kunal Bahl and Rohit Bansal, founders of ecommerce firm Snapdeal and investment fund Titan Capital, have exited at-home services platform Urban Company, bagging a nearly 200 times return on their nine-year-old seed cheque. They sold their stake to Vy Capital’s offshoot Dharana Capital which made a $50 million secondary transaction at the Gurugram-based firm. Bahl and Bansal, who had invested Rs 57 lakh in 2015, made the full exit that closed earlier this month with aggregate proceeds of Rs 111 crore, according to people aware of the transaction.

Protonas, a startup specialising in low-cost polymer electrolyte membrane (PEM) hydrogen fuel cell solutions, has secured an undisclosed amount of funding in a round led by Transition VC. The funds will be used to set up initial manufacturing operations in Chennai and develop prototype systems. The company, based in Tennessee, USA, has a subsidiary in Chennai.

LTIMindtree’s net profit grew 3.1% sequentially to Rs 1,135 crore, but missed ET’s estimate at Rs 1,150 crore. Lower margins compared to corresponding quarter of last fiscal also impacted its net profit which was 1.5% down on a Y-o-Y basis. Spotting a rare growth opportunities in North American business, LTIMindtree posted a 5.1% year-on-year (Y-o-Y) increase in its revenue at Rs 9,143 crore for the first quarter of FY25. It exceeded ET’s estimate at Rs 9,080 crore. North America revenue contribution grew to 75.1% in the first quarter of this fiscal – highest since the official merger between the erstwhile IT firms, LTI and Mindtree. On a sequential basis, revenue grew 2.8%.

State Street Corp, which earlier this year acquired HCLTech's stake in their joint venture, said its cost towards compensation and employee benefits fell 2% in the April-June quarter, mainly due to a decrease in contractor spending associated with JV consolidations in India and lower salaries. State Street that completed the transaction on April 1 made the observation in a filing with the US Securities and Exchange Commission. HCLTech, meanwhile, posted a fall in revenue at its financial services vertical and has warned about headwinds in the segment in the July-September quarter as well due to State Street insourcing the business operation services provided by the JV.

ABVP) wasted no time in organising a nationwide agitation on the NEET-UG paper leak controversy in June, the Shiksha Sanskriti Utthan Nyas has now raised questions over the «centralised» approach for the Central University Entrance Test (CUET). The Vidya Bharti — which runs a chain of schools — had earlier this month expressed «deep concern» over the NEET-UG leak. All these organisations are affiliated with the Rashtriya Swayamsevak Sangh (RSS). It is probably the first such instance during the tenure of the Narendra Modi government that these organisations have unanimously and strongly pointed out faults and gaps in the government-run exam system. All of these are also learnt to have communicated concerns and forwarded various suggestions to the Centre's high-powered panel on exam reforms under former Isro chairman K Radhakrishnan, ET has learnt.

semiconductor technology, Bloomberg News reported on Tuesday. These measures would be applied to companies such as Tokyo Electron and ASML Holding NV, the report added, citing people familiar with the discussions.

Kannada film and theatre figure Sadananda Suvarna passed away at a private hospital in Mangaluru on July 16 at the age of 92 due to age-related health issues. Suvarna, born on December 31, 1931, in Mulki near Mangaluru, moved to Mumbai in his youth. There, he attended night school while working for a private company. Rewrite & paraphrase: Karnataka BJP MP Brijesh Chowta mourned his demise. His note in Kannada can be loosely translated into English as: «I was deeply saddened to hear the news of the death of Mr. Sadananda Suvarna, a director, veteran stage actor, director of Tulu-Kannada dramas who spread the story of Tulunad to the state through the TV channel 'Guddada Bhuta' May God rest his soul Om Shanti.»

Competition law practice at law firm Trilegal Nisha Kaur Uberoi is set to join law firm J Sagar Associates (JSA) along with her team of 25 attorneys including two partners Harshita Singh Parmar and Pranav Satyam. An alumnus of the National Law School of India University and the National University of Singapore Uberoi has also worked with firms such as AZB & Partners and Cyril Amarchand Mangaldas. “This move will greatly enhance and consolidate the firm’s existing domain in Competition Law, and further bolster our market-leading corporate and disputes practices,” said Amit Kapur and Vivek K. Chandy, joint managing partners at JSA in a joint statement. “The addition of Nisha and her team to our existing practice in JSA is a testament to our commitment to meeting the complex antitrust and competition needs of our clients globally.”

Mint explains the domino impact this decision can have on employment and investments across sectors: The IT and ITes sector, which employs millions, has warned that investments will dry up on the back of such protectionist measures. Industry body Nasscom that represents the IT companies said it was "seriously concerned" and urged the state government to withdraw the bill. In a statement on Wednesday, the industry body said the tech sector contributes 25% to the state's GDP.

You may be surprised to learn that the wife of “hillbilly" J.D. Vance is the daughter of Indian immigrants. Usha Vance (née Chilukuri, a name with origins in the south Indian state of Andhra Pradesh) grew up in San Diego.

Netflix likely added the fewest number of subscribers in five quarters during April-June as sharp gains following a crackdown on password sharing ebbed and viewer attention moved to summer sporting events including the Euro soccer tournament. The company added an estimated 4.82 million subscribers in the second quarter, according to LSEG data. That would be the lowest additions since the first quarter of 2023 and about half the 9.3 million it added in the previous three months.

Watertech startup Boon has raised $5 million in a funding round led by Spanish Roca Group Ventures, its first-ever investment in India, with participation from others. The fundraise was a mix of equity and debt. Cofounded by IIT Kanpur alumnus Vibha Tripathi and Advait Kumar in 2015, Boon (formerly known as Swajal) is a technology startup focused on remote water purifying, monitoring and dispensing products.

At the heart of JD Vance’s journey from venture capitalist to vice presidential candidate is a memoir he first thought of in law school, “Hillbilly Elegy.”

Billionaire Elon Musk says he’s moving the headquarters of SpaceX and social media company X to Texas from California

AI startup Cropin Technology Solutions has unveiled a real-time intelligence solution to forecast future yields for 13 vital crops as artificial intelligence helps overcome bottlenecks in the farming industry. The Bangalore-headquartered company unveiled Sage, powered by Alphabet Inc.’s Google Gemini AI model, which converts the world’s agricultural landscape into a proprietary grid-based map and then delivers precise predictive intelligence based on historical data. Decision-makers can ask questions about crop performance and life cycle in their native language and get information on productivity, climate, farm practices and soil for the 13 crops that account for 80% of global food demand.