Infosys Q1 net profit at Rs5195 Cr 💸
Infosys Q1 net profit at Rs5195 Cr 💸
Space Capital record $4.5Bn invested, Apple to launch Apple Pay Later.
Investment in space companies hit a record $4.5 billion 🚀
Private investment in space companies hit $4.5 billion in the second quarter, according to a report by New York-based firm Space Capital. “This was the largest quarter on record for space infrastructure investment, despite only two space company SPACs closing in Q2,” Space Capital managing partner Chad Anderson wrote.
The sector has surged in popularity among investors, in part thanks to the billionaire space race – with Sir Richard Branson launching on Virgin Galactic just days before Jeff Bezos flies on Blue Origin’s first crewed mission, while Elon Musk’s SpaceX is sending up spacecraft at a blistering pace while developing a mammoth next-generation rocket.
Infosys' revenues are at their highest in a decade💸
The second-largest IT services company in India Infosys' revenues have risen to levels not seen in a decade as a result of the pandemic. The Bengaluru-based company posted a net profit of Rs 5,195 crore for the first quarter ended June 30, as against a profit of Rs 4,233 crore posted a year earlier. Shares of Infosys closed 2.1 percent higher at Rs 1,577.4 on the NSE.
Chief operating officer (COO) of Infosys Pravin Rao said: “As the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge. We plan to meet this demand by expanding our hiring program of college graduates for FY22 to 35,000 globally.”
Hot Shorts ⚡
On Wednesday, oil prices fell after Reuters reported that Saudi Arabia and the United Arab Emirates had achieved an agreement that would allow an OPEC+ arrangement to boost global oil supplies as the world recovers from the coronavirus pandemic.🛢
People under the age of 25 made up 27% of those who completed the Zomato IPO application on Paytm Money's platform. The IPO of Zomato, one of the country's first by an internet company, has created a lot of buzz in the startup sector. 👦🏻
Apple Pay Later, A Buy Now Pay Later Service 👏
Apple and Goldman Sachs are partnering to launch a buy now, pay later (BNPL) service through Apple Pay called Apple Pay Later. As a feature, Apple Pay Later may compete with BNPL companies like Affirm and Klarna, but Apple’s competitive focus isn’t on those companies—it’s on Google, PayPal, and Square.
When a user makes a purchase via Apple Pay on their Apple device, they will be given a choice to pay for it interest-free every two weeks or with interest across several months. The plans are internally called ‘Apple Pay in 4’ and ‘Apple Pay Monthly Installments’.
🤦♂️ For the second month in a row, Jio surpassed Airtel in terms of new users, adding 3.5 million. Meanwhile, Vodafone has lost 2.1 million subscribers for the second month in a row. India’s telco market slowly sounding like a “duopoly”!
👚 Shein will re-launch in India on Amazon during the company's annual Prime Day sale. However, it is important to note that it will only be launched as a seller on Amazon and not as a separate e-commerce platform like before.
When we say "I don't know what I should do",
very often we mean "I don't know if what I want to do
will work!"
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