Zomato slides 7% on fears ONDC may hit profitability

Analysts said the disruption by ONDC, where consumers are buying food and grocery at cheaper prices, has hurt investor sentiment in loss-making Zomato.

from Tech-Economic Times https://ift.tt/bDoCirO

Snags hit ecommerce orders on ONDC; IT firms hire more women in FY23

Government-backed Open Network for Digital Commerce (ONDC) is set for rough weather ahead as the platform faces roadblocks while scaling. This and more in ETtech’s Morning Dispatch.

from Tech-Economic Times https://ift.tt/EmuUijz

Alphabet-backed Anthropic outlines the moral values behind its AI bot

Anthropic was founded by former executives from Microsoft Corp-backed OpenAI to focus on creating safe AI systems that will not, for example, tell users how to build a weapon or use racially biased language.

from Tech-Economic Times https://ift.tt/W8L6I4w

GM hires former Apple executive Mike Abbott to lead software unit

Automakers, including GM and Ford Motor Co, have been increasingly ramping up their investment on technology and software services amid an electric-vehicle push, as they look to cash in on subscription-based services.

from Tech-Economic Times https://ift.tt/6Hqe2zw

PayPal adjusted margin forecast cut eclipses higher profit expectations

PayPal expects adjusted operating margin expansion of 100 basis points this year, compared with its earlier forecast of a 125-basis-point growth.

from Tech-Economic Times https://ift.tt/EHKbae8

LinkedIn lays off 700 employees, exits China app as demand wavers

LinkedIn, the social media network owned by Microsoft Corp that focuses on business professionals, said on Monday it would cut 716 jobs as demand wavers, while also shutting down its China-focused job application.

from Tech-Economic Times https://ift.tt/emX6puh

Amazon offers shoppers $10 to pick up purchases as it targets delivery costs

Amazon over the last few days has emailed an unknown number of Prime subscribers offering them $10 to retrieve an order of $25 or more at company pickup points at locations such as Whole Foods, Amazon Fresh or Kohl's stores.

from Tech-Economic Times https://ift.tt/8qmUC6n