Bussiness

Tesla Inc., the electric vehicle giant led by Elon Musk, is taking significant steps towards entering the Indian market, with the company currently hiring for 13 key positions across customer-facing and operational roles in Mumbai and Delhi. This move follows a high-profile meeting between Musk and Prime Minister Narendra Modi in the United States, where discussions were held about Tesla's potential expansion into India. Recent policy changes, such as the reduction in import duties on high-end vehicles, make India a more favorable market for Tesla. While India's EV market is still in its early stages, the country presents a promising growth opportunity for Tesla, especially as the company seeks to address its slowing global sales.

Finance Minister Nirmala Sitharaman tabled the Income Tax Bill 2025 in the Lok Sabha, aiming to simplify India's tax laws. The bill seeks to reduce the complexity of the existing tax framework by cutting down on the number of sections and using plain language. However, the introduction of the bill was met with strong opposition, leading to a walkout by several MPs. Opposition members raised concerns about the bill's structure, with some questioning the increase in sections compared to the previous 1961 Act. Sitharaman responded by highlighting the reduction in sections from 819 to 536 and clarified that the bill would address over 4,000 amendments to the old Act. To address further concerns, she proposed sending the bill to a Select House Committee for detailed review before its final approval.

Meta, led by Mark Zuckerberg, is set to lay off 3,600 employees next week, focusing on the company’s "lowest performers." The layoffs will begin on Monday, February 12, with notices being sent to employees across multiple countries, excluding Germany, France, Italy, and the Netherlands due to local regulations. Despite these cuts, Meta plans to expedite the hiring of machine learning engineers and other business-critical roles as part of its broader strategy to align with its 2025 priorities. The company’s restructuring comes amid a slowdown in the broader labor market, with job openings in the U.S. declining to a three-month low.

Zomato announced it will officially rebrand as "Eternal," reflecting a shift in its vision and business strategy. The name change encompasses four key business segments: food delivery, Blinkit's quick-commerce unit, District's live events, and Hyperpure's kitchen supplies. Founder Deepinder Goyal emphasized that the transition acknowledges the growing significance of quick commerce, especially after Zomato’s acquisition of Blinkit. The change applies only to the corporate entity, with Zomato's app and brand remaining the same. Eternal’s diversified approach aims to position the company as a leader in food-tech, e-commerce, and beyond.

Hindenburg Research, the US-based short-selling firm that gained prominence for its allegations of stock manipulation and accounting fraud against the Adani Group in 2023, has announced its closure. Founder Nate Anderson explained that the firm’s planned shutdown follows the completion of its ongoing investigations. Anderson emphasized that their work had led to significant legal consequences for many individuals and companies, including billionaires and oligarchs. Despite its controversial methods, Hindenburg Research has decided to wind up operations, with Anderson stating that he now views it as a chapter in his life.