US company Micron scouts for a spot for semiconductor packaging factory

The Boise, Idaho-based technology company has visited two states to finalise the location of the new unit amid India's drive to ignite the semiconductor and allied sectors, the people added.

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Card-based fintechs switch to plan B for biz continuity

​Several fintech firms have reached out to leading banks to explore alternative credit models, sources told ET. These include opening a bank account — plus an add-on debit card — with lenders to disburse loans, issuing co-branded credit cards instead of PPIs and disbursing the credit as cash directly into a customer’s existing bank account.

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HCL Q1 net profit up 2.4%, margins disappoint

India’s third largest software company kept revenue growth guidance of 12-14% and a 18-20% operating margin forecast for the ongoing fiscal year, though its top management cautioned about the impact of a likely recession in the United States.

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Experts call for defining non-personal data before making laws on it

Most experts who participated in a panel discussion by not-for-profit Consumer Unity & Trust Society (CUTS) International said that regulation of NPD when the definition of the term itself was still vague would be premature.

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Karnataka to draft a rule governing the welfare of gig and platform workers

The rule is expected to be ready in about a month’s time, labour minister Shivaram Hebbar told ET. It will, however, take effect only after the Centre notifies the date of implementation of the new labour codes.

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Sequoia’s vaunted strategy feels the pain of tech stock selloff

Sequoia’s portfolio companies that listed in the US last year have lost more than $7.7 billion of market value since their debuts, according to a Bloomberg analysis of public filings. The declines were led by a $4.2 billion drop in the value of the firm’s IPO stake in Brazilian digital bank NU Holdings Ltd.

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Peloton to stop making bike, tread products in-house, cut about 570 jobs

The New York-based firm will cut around 570 jobs at its Tonic Fitness Technology unit, a Taiwan-based firm bought by Peloton in 2019, according to a source familiar with the matter.

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