• zomato_app1_hi-res-l
    Zomato’s Losses Rises to 260%

    Zomato, India’s online restaurant discovery and food ordering service continue to sink with a loss of 260% to INR 4.92 bn for FY2016. Zomato’s operational revenues doubled to Rs 1.85 bn for the FY16 from Rs 0.97 bn. The brokerage had raised a slew of concerns about Zomato’s advertisement-heavy business model, growing competition and businesses abroad. The report added…

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  • 1022_Microsoft
    Microsoft Trims Smartphone Hardware Business

    Microsoft announced its plans to streamline the company’s smartphone hardware business, which will impact up to 1,850 jobs. As a result, the company will record an impairment and restructuring charge of approximately $950 million, of which approximately $200 million will relate to severance payments. “We are focusing our phone efforts where we have differentiation — with…

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