Amazon, the online shopping site said it is raising its minimum wage to $15 per hour for all US employees including full-time, part-time, temporary and seasonal employees, starting 1 November. The new minimum wage will benefit more than 250,000 employees in the US, as well as over 100,000 seasonal employees who will be hired at Amazon sites across the country this holiday, the company said in a statement.“We will be working to gain Congressional support for an increase in the federal minimum wage. The current rate of $7.25 was set nearly a decade ago,” said Jay Carney, senior vice-president of Amazon global corporate affairs.
The pecking order of unicorns, start-ups that are valued at $1 billion and above, is changing rapidly with online retailers making way for start-ups in other sectors, even as they achieve unicorn status in record time. Year to date, five new companies have entered India’s unicorn club—Swiggy, PolicyBazaar, Freshdesk, Udaan and Oyo. Except PolicyBazaar and Freshdesk, all the others were founded after 2014. Udaan, a marketplace for businesses, was launched in late 2016, taking less than two years to become a unicorn. Earlier this year, the largest Indian internet start-up, Flipkart, was acquired by Walmart. Currently, Paytm is India’s most valuable start-up, valued at $10-12 billion.
Digital lending marketplace MyLoanCare, which had hit net profitability in the last financial year, is planning to expand its scope of operations, expand its staff strength and digitise its loan products over the next financial year. It competes with the likes of Paisabazaar and BankBazaar has already partnered with 24 lending institutions to facilitate quick credit for its consumers. Started five years back, MyLoanCare has already processed close to 14,000 loans till March 2018 and has successfully helped disburse around Rs 1,300 crore on behalf of its lending partners.
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The resignation is effective September 28, the telecom operator said. Khanna’s resignation comes within a month of Vodafone India and Idea CellularNSE 0.52 % merging their operations to create the largest telecom company in India. The two completed the transaction on August 31.
Flipkart, which will host its Big Billion Days (BBD) sale from October 10-14 this year, has doubled its warehousing capacity and now has over 65 fulfilment centres and more than 60 ‘mother hubs’ that will cater to the expected spike in demand during the festive sale.
“BBD pushes us to innovate in every area, including supply and logistics. It helps us build capabilities for long-term. Each BBD is bigger than the previous one and sets a new normal — for both business and innovation — for the future,” Flipkart Senior Vice President of Engineering (Supply Chain) Krishna Raghavan told.
According to Paytm, the app will categorise the messages locally on the device only after the users give their explicit consent to avail this service. Once the service is activated, the app informs the users about the various classifications of the SMS categories and their utility value.
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