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ZEE’s Punit Goenka plans on “chopping off anything that doesn’t yield a return on investment”

In line with his strategic plan focused towards achieving the targeted goals, ZEE's MD and CEO Punit Goenka proposed the implementation of a lean and streamlined management structure to the Board on April 5. The streamlining process included rationalisation of the workforce by 15 percent.

Zee MD and CEO, Punit Goenka, emphasises a renewed focus on profitability in a recent media interview. He highlights a shift towards prioritising investments that demonstrate clear return on investment (ROI).

Elon Musk suing OpenAI: Vinod Khosla calls it a case of ‘sour grapes’, OpenAI execs’ memo rejects Musk’s claims

The report adds that the lawsuit filed late on Thursday in California Superior Court in San Francisco is a culmination of Musk's long-simmering opposition to the startup he co-founded. OpenAI has since become the face of generative AI, partly due to billions of dollars in funding from Microsoft. Musk went on to found his own artificial intelligence startup, xAI, launched last July. (From left to right: Elon Musk and Vinod Khosla. Image source: Unsplash)

Indian-American billionaire Vinod Khosla has said that Elon Musk suing OpenAI feels like a case of sour grapes.

Indians increase spending on tobacco, intoxicants, paan: Govt’s Household Consumption Expenditure survey reveals

The Survey shed light on the private final consumption expenditure, income inequalities and other demographic indicators useful for mapping the progress of India’s economy. The report saw a survey of 2.76 lakh-plus households in both rural and urban areas (1,55,014 in rural areas and 1,06,732 in urban areas) in the central sample spread over all States and Union Territories in the country, evaluated in the period from August 2022 to July 2023. The detailed report will be released later. (Image source: Unsplash)

In comparison, the proportion of spending on education has reduced in urban and rural areas.

Sony UEFA media rights deal: Sony renews deal with football association for 3 years

In January 2024, the two-year long saga of the Zee and Sony merger ended with the collapse of the $10 billion media merger, triggering legal actions from both parties on various issues including merger termination fees. (Image source: Unsplash)

Sony had acquired the TV and digital rights of UEFA for Rs 400 crore, last year.

Byju’s trouble: Founder Raveendran says Byju’s unable to pay salaries due to investors stooping to “heartless level”

Over the last year, Byju’s has let go of thousands of employees amid its battle with slowing demand of online learning services and VC funding winter. (Image source: Moneycontrol)

Founder Byju Raveendran said in a letter to employees, “Unfortunately, a select few (4 out of our 150+ investors) have stooped to a heartless level, ensuring that we are unable to utilize the funds raised to pay your hard-earned salaries.”

Apple India sales to hit Rs 70,000-crore in 2024: Report

A previous Moneycontrol report stated that analysts said Apple’s market share across larger enterprises has also been rising along with mindshare. As per market trackers, Apple cornered around 6 percent laptop market share in India, translating into $400 million in Mac revenue in India. (Image source: Unsplash)

India was among Apple’s fastest-growing iPhone markets in 2023, with annual shipments crossing 10 million units for the first time with a 46 percent growth, securing the top revenue position for the year, beating its rival Samsung,

CXO Moves: Exec appointments across Unilever, Pidilite, Samsung Mobile, Leo Burnett, PayPal, TikTok and more

Get the full picture on people and their moves on the corporate jungle gym in CXO Moves. (From left to right: Heiko Schipper, Jessica Wong, Sudhanshu Vats and Aditya Babbar)

Executive moves in the world of brands and agencies.

Times Group signs JV with Pickleball Asia to start Pickleball World Series

Pickleball is a fusion of tennis, table tennis and badminton (Photo by Joan Azeka on Unsplash)

In the first year, the Pickleball World Series will comprise of 64 players in the individual format and six teams comprising four players each, from the US and the rest of the world, including India.

Samsung Mobile elevates Aditya Babbar as vice president and head of product – marketing

Aditya Babbar began his career with Samsung Mobile as general manager, and over a period of seven years, has held different positions in various capacities.

Aditya Babbar was the senior director – head product and marketing.

Only Vimal could leverage the ‘looks of a winner’ to become an undisputed clothing brand

Reliance ventured into the textiles business with the introduction of Vimal in 1975. The brand was named Vimal, after Dhirubhai Ambani's nephew, and son of his elder brother Ramnikbhai Ambani, co-founder of Reliance Industries. The operations of the business were looked after by Dhirubhai's son, Anil. (Image source: Only Vimal website)

It was 1987 when India was witnessing a transformation in the advertising industry. Reliance Industries, the principal sponsor of the Cricket World Cup at the time, rolled out a campaign where the talent of filmmaker Shantanu Sheorey and the onscreen persona of cricketing greats Sir Vivian Richards, Ravi Shastri and Allan Robert Border catapulted Vimal Suitings to become a market leader.