UK to offer shopping vouchers, pizza discounts to boost youth vaccinations

From shopping vouchers and pizza discounts to Uber reminders, the UK is planning a so-called “vouchers for vaccines” scheme to encourage greater uptake of COVID-19 vaccines among the younger age groups of the country.

A number of ride-hailing and food delivery apps will be offering discounted travel and meals to people who get vaccinated, with offers including free lifts to vaccine centres and cheap meals for those already inoculated. Uber, Bolt, Deliveroo and Pizza Pilgrims are among the brands in

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Economic growth will fuel Indian legal market: Mohit Saraf

2021-07-26 16:15:10

Mohit Saraf, who recently founded a law firm after an acrimonious split from L&L Partners, wants to make it a sustainable Rs 1,000 crore-revenue firm in the next one decade by when he expects India to become a $10-trillion economy.

The spectacular economic growth, up from the current $2.8 trillion, will fuel the country’s legal market as well and there will be several law firms with more than 1,000 lawyers and Rs 1000 crore revenues in 10 years,

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Zomato’s Deepinder Goyal is Now CEO of a Rs 100-Crore Company. A Look at His Journey

Deepinder Goyal and Pankaj Chaddah started the company in 2008 as a listing website called, ‘Foodiebay’ (Representative Image)

Deepinder Goyal and Pankaj Chaddah started the company in 2008 as a listing website called, ‘Foodiebay’ (Representative Image)

The Zomato stock got listed on the BSE at Rs 115 and Rs 116 on the NSE. The company is now eyeing a post-issue valuation of $8 billion.

Zomato has been making waves in the market with its ground-breaking initial public offer (IPO) that took centre stage on July 14. This was by far one of the largest to date and puts

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Uber’s trucking unit to buy logistics planner Transplace for $2.25 billion

2021-07-22 20:44:26

Uber Technologies Inc’s trucking business is buying transportation logistics company Transplace for about $2.25 billion from private equity firm TPG Capital, in a deal that is expected to speed up the unit’s path to profitability.

The acquisition, announced by Uber on Thursday, consists of up to $750 million in the company’s common stock and the remainder in cash.

Uber Freight operates as a middle man in the fragmented long-haul trucking business, connecting truckers with shippers. Transplace works

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The world’s road fuel demand to peak years earlier than expected

2021-07-20 23:06:23

Demand for gasoline and diesel to fuel cars and trucks will peak in 2027 — four years earlier than expected — as more fuel-efficient autos and increasing adoption of electric vehicles curb global consumption, according to BloombergNEF.

Decline in demand for road fuel will be steepest in Europe and the U.S. and an anticipated rise in fuel use in countries such as India and China will fail to materialize, Bloomberg’s energy data and analysis firm said in a

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A new economy moment: As startups line up IPOs, it’s learning time for retail investors and entrepreneurs

2021-07-15 07:09:14

There is a lot of buzz around startup IPOs lined up in Indian bourses. And questions abound. How should Indian retail investors assess and value the investment opportunity? Aren’t valuations of loss-making startups unreal?

For me, one of the biggest aspects of the IPOs is potential for Indian investors to participate in the wealth creation. So far, most of the startup success and resultant capital gains have gone to foreign investors.

Now, with the IPOs, Indian investors will

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Uber appoints Accenture’s Divya Garg as head of HR for India and South Asia region

2021-07-14 14:46:11

Uber has announced the appointment of Divya Garg as the head of HR for the India and South Asia (SA) region, said a statement issued today.

Garg will be working closely with the India SA leadership team to consolidate Uber’s growing presence in these strategic markets and build a diverse and inclusive work culture.

Her last stint was at Accenture, where she consulted in the talent and organisational consulting practice for many years, before joining the Accenture People

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Beware! Unicorns have a habit of failing in public markets. Here’s why

2021-07-14 09:30:53

There has been excitement and euphoria among Indian equity investors over the IPO of new-age tech-driven company Zomato, which has already made it to the Club Elite of Indian Unicorns.

Unicorns tend to ‘specialise’ in the art of commanding billion dollar valuations, irrespective of their profitability, as deep-pocket investors from the private equity (PE) world willingly partake in the ‘well-narrated rosy story, with the promise of thumping success in the future,’ which discounts several years of

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China’s Didi valued at $80 billion in mega US IPO as shares soar

2021-06-30 22:12:35

China’s Didi Global Inc shares soared nearly 19% in their New York Stock Exchange debut on Wednesday, valuing the ride-hailing giant at $80 billion in the biggest U.S. listing by a Chinese company since 2014.

SoftBank-backed Didi’s stock opened at $16.65, compared with the initial public offering price of $14 per share. It had priced an upsized offering of 316.8 million American Depositary Shares at the upper end of its $13 to $14 range, raising $4.4 billion.

Didi’s

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Pandemic puts brakes on Shuttl’s bus ops, firm explores M&A

2021-06-28 23:44:19

Bengaluru: The Covid-19 pandemic has battered the mobility sector and its latest casualty is app-based bus aggregator Shuttl.

The Gurugram-based startup is shutting down, people in the know said, as demand for transportation services continues to be depressed more than a year after Covid-19 forced millions to avoid non-essential travel and work from home.

Shuttl, which was backed by Amazon, is reported to have laid off a significant part of its team as it finds it unable

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New India e-commerce rules and their impact, explained

2021-06-28 12:43:19

India’s new draft e-commerce rules,
announced last week, have kicked up a storm.

The changes proposed by the Department of Consumer Affairs are wide-ranging in nature,
spilling into multiple aspects and sectors beyond just e-tailers like Flipkart, Amazon India and their flash sales . ET takes a look at some of the other proposals that could impact the growing route of retail. Some of these proposals and its implications are still being debated.

On flash sale

Government’s

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Telcos double corporate SMS rates for overseas entities

2021-06-28 10:40:28

Overseas firms operating in India will be charged $0.030 per short message service (SMS) from July 16, double the current rates and almost 20 times higher than the rate telecom operators charge domestic companies. As a result, some foreign companies may be forced to look for alternative means of communication, said industry executives.

Foreign enterprises may resort to alternatives such as in-app notifications, emails and WhatsApp Business Messaging, but telcos will still earn higher revenue as mission-critical messages

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Telcos double corporate SMS rates for overseas entities

2021-06-28 10:40:28

Overseas firms operating in India will be charged $0.030 per short message service (SMS) from July 16, double the current rates and almost 20 times higher than the rate telecom operators charge domestic companies. As a result, some foreign companies may be forced to look for alternative means of communication, said industry executives.

Foreign enterprises may resort to alternatives such as in-app notifications, emails and WhatsApp Business Messaging, but telcos will still earn higher revenue as mission-critical messages

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New India e-commerce rules set to hit Swiggy and Zomato, Ola and Uber

2021-06-24 06:30:00

Bengaluru: The government’s proposed changes for the e-commerce sector will impact a wide range of online companies selling goods and services, at least four industry sources told ET.

The Department of Consumer Affairs’ proposals will hit online travel company MakeMyTrip, food delivery firms Zomato and Swiggy, ride-hailing service providers Ola and Uber, besides home services company Urban Company, they said.

These companies are currently reviewing the potential impact of the
draft India e-commerce rules

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How Big Tech created a data ‘treasure trove’ for police

When U.S. law enforcement officials need to cast a wide net for information, they’re increasingly turning to the vast digital ponds of personal data created by Big Tech companies via the devices and online services that have hooked billions of people around the world.

Data compiled by four of the biggest tech companies shows that law enforcement requests for user information – phone calls, emails, texts, photos, shopping histories, driving routes and more – have more than tripled in the

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Global captives expected to ramp up hiring in small towns

2021-06-14 20:22:30

Illustration: Rahul Awasthi

Synopsis

Companies like Uber, Mastercard, Bank of America, Schlumberger and Bosch already run their global captive units in tier II towns like Visakhapatnam, Vadodara, Gandhinagar and Coimbatore

Global firms looking to hire for their captive units in India are ramping up headcount in tier II and tier III towns, analysts said.

There are about 1,600 global captive centres in India, which collectively employ over 1.3 million people of the 4.6 million technology workforce in the

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What the rich don’t want to admit about the poor

I’m not going to pretend that I know how to interpret the jobs and inflation data of the past few months. My view is that this is still an economy warped by the pandemic and that the dynamics are so strange and so unstable that it will be some time before we know its true state. But the reaction to the early numbers and anecdotes has revealed something deeper and more constant in our politics.

The American economy runs on

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Payments startup Marqeta valued at over $17 billion in Nasdaq debut

2021-06-10 00:17:18

Shares of Marqeta Inc, which provides payments services to customers including Uber Technologies Inc and DoorDash Inc, rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.

The financial technology startup’s stock opened at $32.50 on Wednesday, compared with its initial public offering (IPO) price of $27 per share. Marqeta’s IPO was priced well above its target price range of $20 to $24 per share.

The Oakland, California-based company sold

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Uber plans expansion in India, to hire about 250 engineers in tech, product

Ride-hailing platform Uber on Wednesday said it is recruiting close to 250 engineers for its teams in Bengaluru and Hyderabad as it continues to expand the scope of operations for its engineering and product work in the country.

The current round of hiring will strengthen the company’s rider and driver growth, delivery, eats, digital payments, risk and compliance, marketplace, customer obsession, infrastructure, adtech, data, safety and finance technology teams, a statement said.

These roles are currently split between the company’s

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