Day: September 10, 2020

Ambani’s Reliance to Offer $20 Billion Stake in Retail Arm to Amazon

(Bloomberg) — Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter.

Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed interest in negotiating a potential transaction, the person said. Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, the person said, asking not to be identified because the information is private.

A deal, if successful, would not only create a

Urban unemployment rate falls to lowest level in first week of September, since lockdown began.

The urban unemployment rate fell to 8.32 per cent in the week ending 6 September. (Bloomberg image)

The high unemployment rate in urban India subsided in the week ending 6 September 2020, falling to the lowest level since the lockdown began. The urban unemployment rate fell to 8.32 per cent in the week, according to the Centre for Monitoring Indian Economy. Interestingly, the employment situation in urban India has improved despite a severe loss of salaried jobs. An estimated 21 million salaried employees have lost their jobs by the end of August. There were 86 million salaried jobs in India

WhatsApp for Android may soon get new call button, catalogue shortcuts and more

Catalogue shortcut is expected to enable quick access for product portfolio, thus making it easier for businesses to communicate.

WhatsApp is apparently working on several improvements for the Android version of its app. The company is expected to bring a new catalogue shortcut for business accounts, a new call button and ‘Doodle’ option. According to a report by WABetaInfo, the company has been working on these features and they have been spotted in the beta version for Android. Catalogue shortcut is expected to enable quick access for product portfolio, thus making it easier for businesses to communicate.

The feature tracker