Boeing Co. is deepening job cuts as a global pandemic and prolonged grounding of the 737 Max jetliner squeeze the planemaker’s finances. An additional 7,000 jobs are slated for elimination by the end of next year, bringing the total workforce reduction made through retirements, attrition and layoffs to 30,000 people, Boeing said in an email Wednesday after reporting earnings.

US-based IT services company Cognizant has announced appointment of Rajesh Nambiar as the chairman and MD of India and a member of Cognizant’s executive committee with effect from November 9, 2020. Nambiar comes in place of Ramkumar Ramamoorthy who quit Cognizant as CMD India after putting in 23 years at the IT services company in July.

Amazon.com Inc on Wednesday opened up its Swedish website, offering customers more than 150 million products across 30 categories, marking its first entry in the Nordics. Swedish customers could already shop on Amazon through its websites in other European countries such as Germany, and get their purchases shipped in, but this often meant paying high delivery charges.

Engineering major Larsen and Toubro on October 28 said it has won a Rs 25,000-crore order from the government to execute a portion of the ambitious Mumbai-Ahmedabad bullet train project. "This Rs 25,000-crore order is the single largest for us and also the single largest contract the government has awarded so far," S N Subrahmanyan, chief executive and managing director of L&T, told reporters.

The country’s largest lender State Bank of India (SBI) on October 28 announced that it has entered into a strategic partnership with trusted global non-profit education platform edX in order to offer its Massive Open Online Courses (MOOCs). The collaboration aims at facilitating learners with expanding perspectives and access to knowledge beyond the classrooms. 

Air India Express on Wednesday reported its highest-ever annual net profit of Rs 412.77 crore for the financial year ended March 2020 as higher operating revenue and passenger volume helped bolster the bottom line of the budget carrier. The Kochi-based airline, which is up for sale along with its parent Air India, had posted a net profit of Rs 169 crore in 2018-19 fiscal, according to a release.

Drug firm GlaxoSmithKline Pharmaceuticals on Wednesday reported nearly 85% decline in its consolidated net profit to ₹76.47 crore for the quarter ended in September. The company had posted a net profit of ₹502.75 crore for the corresponding period of the previous fiscal, it said in a BSE filing. Consolidated revenue from operations of the company stood at ₹879.32 crore for the quarter.

Wipro will acquire Chennai-based firm Encore Theme Technologies Private Ltd, a software-as-a-service (SaaS) and cloud solutions provider in financial services, for a value of up to Rs 95 crore. The acquisition is subject to customary closing conditions and is likely to be finalised in the quarter ending December 31, 2020, the company said in a statement.

Two-wheeler maker Hero MotoCorp on October 28 reported a 9 percent year-on-year growth in standalone profit for the September quarter 2020, supported by revenue, but lower other income restricted growth. Revenue in grew by 23.7 percent to Rs 9,367.34 crore in the quarter ended September 2020, with 7.7 percent growth in volume.

Pune-based startup BharatAgri on Wednesday said it has raised funds from a clutch of investors, backed Binny Bansal backed 021 Capital and India Quotient. "The company plans to use the fresh funds on product enhancement and growth, besides expanding its footprint across India," the startup said in a statement.

Netflix is collaborating with gaming company Ubisoft for a live-action series on popular video game "Assassin's Creed". In a statement, Netflix and Ubisoft announced that they will develop a slate of properties based on the best-selling game. The first series has been described as an "epic, genre-bending live-action adaptation" and the two companies are currently searching for a showrunner.

Cipla today announced the commercialisation of antibody detection kits for COVID-19 in India. In partnership with KARWA Ltd. under the technology transfer from the Indian Council of Medical Research (ICMR). As part of this collaborative effort, Cipla will be responsible for the marketing and distribution of the SARS CoV-2-IgG antibody detection.

Business process management (BPM) services provider Firstsource Solutions on Wednesday posted 56.3% rise in consolidated net profit to ₹105.2 crore for the second quarter ended September 30. Its net profit (attributable to owners of the equity) stood at ₹67.3 crore in the year-ago period, Firstsource said in a statement.

Cross-platform messaging: Social media giant Facebook has now launched its cross-platform messaging app Messenger for Instagram and Facebook. With this, Facebook users would be able to message someone on Instagram from Facebook itself, and vice versa. New features have also been added to the messenger, including selfie stickers, disappearing messages, chat colours and themes and custom emojis.

V Guard reported marginal fall of -0.04% in top line sales for the Sep-20 quarter at Rs623.01cr. The operating profits for the quarter ended Sep-20 was down 5.69% at Rs67.67cr while net profits were down 12.14% at Rs51.62cr. This had an overall impact on the margins of V-Guard. For the Sep-20 quarter, the operating profit margins or OPM was down 65 bps at 10.86% on the back of higher costs.