Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Europe's leading mobile tax platform <keyword id="17568154" type="General" weightage="20" keywordseo="Taxfix" source="Orion">Taxfix</keyword> has reportedly laid off 120 employees, or 20 per cent of its workforce, amid funding winter to cut costs. The job cuts come in the wake of Taxfix recently acquiring a Stuttgart-based start-up Steuerbot, which offers a successful chat-based tax app in Germany, reports TechCrunch. The Germany-based accounting startup reached a $1 billion valuation in 2022. "With Taxfix's recent successful acquisition of Steuerbot, great synergies are created, which enable us to heavily increase efficiencies. Therefore we took the strategic decision to restructure the organisation," a Taxfix spokesperson was quoted as saying. "The macroeconomic funding environment has changed over the past months, and it is, therefore, more important than ever to position ourselves as an independent company for the long term," the spokesperson added. In April 2022, the platform closed a $220 million <keyword id="3667192" type="General" weightage="20" keywordseo="Series-D" source="Orion">Series D</keyword> at a valuation of over $1 billion, from investors that included Teachers' Venture Growth, Index Ventures, <keyword id="1673278" type="General" weightage="50" keywordseo="valar-ventures" source="Orion">Valar Ventures</keyword>, Creandum and Redalpine. With more than five million downloads in Germany, Italy and Spain, Taxfix is the leading mobile tax platform in Europe.A The fintech platform recently reached the milestone of over two billion euros in tax refunds for its customers. More than 500 employees, including tax experts, developers and IT security experts, work in Berlin and Madrid to develop the Taxfix service and product portfolio further, the company said in February this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/best-agrolifes-revenue-crosses-1700-cr-ebitda-margin-reaches-18-and-30-dividend-recommended-in-fy23/articleshow/100645640.cms">Best Agrolife's Revenue Crosses ₹1,700 Cr., EBITDA Margin Reaches 18%, and 30% Dividend Recommended in FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/not-found-sufficient-evidence-to-arrest-brij-bhushan-delhi-police/articleshow/100645656.cms">Not found sufficient evidence to arrest Brij Bhushan: Delhi Police</a>

Fintech unicorn Taxfix lays off 120 employees to cut costs

<keyword id="6366797" type="General" weightage="100" keywordseo="delhi-metro" source="Orion">Delhi Metro</keyword> commuters will now be able to travel on the Airport Line using a WhatsApp-based ticketing service launched on Tuesday. The system allows commuters to receive a QR code-based ticket directly on WhatsApp, officials said. "Further enhancing the travel experience for its commuters in an easy to navigate digital mode, Delhi Metro today introduced a WhatsApp-based ticketing service for travel on its <keyword id="6375348" type="General" weightage="50" keywordseo="airport-express-line" source="Orion">Airport Express Line</keyword>," the Delhi Metro Rail Corporation (DMRC) said. The service was launched by DMRC Managing Director <keyword id="228809" type="General" weightage="50" keywordseo="vikas-kumar" source="Orion">Vikas Kumar</keyword> at the Metro Bhawan here in the presence of other senior officials. With the introduction of this facility, commuters on the Airport Line will now be able to use WhatsApp chatbot-generated QR code-based tickets from their smartphones. This facility will make commuting more efficient and seamless for commuters, especially national and international travellers heading to or coming from the airport, using the Airport Line, as they can now purchase and use tickets generated in their phone itself through a dedicated WhatsApp chatbot (available in English and <keyword id="6357660" type="General" weightage="20" keywordseo="hindi" source="Orion">Hindi</keyword> language) as per their convenience, the DMRC said. To initiate the service, commuters will have to add the DMRC's official WhatsApp number 9650855800 in their phone's contact list, it said. For single and group journeys, a maximum six QR code-based tickets can be generated for each passenger, the officials said. The tickets will be valid till the end of the business day. But once entry is done, passengers should exit within 65 mins from the destination station. For exit at the source (origin) station, passengers should leave within 30 minutes from the time of entry, they said. The tickets cannot be booked after business hours. The service does not allow cancellation of tickets. The DMRC will charge a nominal convenience fee for transactions done through credit or debit cards. No convenience fee will be charged for UPI-based transactions. Earlier this month, the DMRC introduced QR code-based paper tickets for travel on all lines, describing the development as a move towards a more transparent and human intervention-free mechanism. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/fintech-unicorn-taxfix-lays-off-120-employees-to-cut-costs/articleshow/100646092.cms">Fintech unicorn Taxfix lays off 120 employees to cut costs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/not-found-sufficient-evidence-to-arrest-brij-bhushan-delhi-police/articleshow/100645656.cms">Not found sufficient evidence to arrest Brij Bhushan: Delhi Police</a>

Delhi Metro launches WhatsApp-based ticketing service on Airport Line

<keyword id="99389" type="General" weightage="20" keywordseo="vedanta-resources" source="Orion">Vedanta Resources</keyword> Limited (<keyword id="28423" type="DOMAIN" weightage="100" keywordseo="vedanta" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta</keyword>), the parent company of Mumbai-listed mining giant <keyword id="11969166" type="DOMAIN" weightage="100" keywordseo="vedanta-ltd" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta ltd" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta Ltd</keyword>, on Wednesday said it has further repaid USD 400 million of loans, cutting gross debt to USD 6.4 billion. In a statement, the firm helmed by billionaire <keyword id="6354819" type="General" weightage="20" keywordseo="anil-agarwal" source="Orion">Anil Agarwal</keyword> said it "has paid all its maturing loans and bonds due in May and June 2023.. "As such, gross debt has further reduced to USD 6.4 billion, a USD 3.3 billion reduction since Vedanta announced its deleveraging ambition in March 2022," it said. CreditSights, a Fitch Group firm, had last week stated that it saw lower refinancing risk for Vedanta Resources Ltd's (VRL) near-term debt maturities on a new USD 850 million loan refinancing. "Looking ahead, while we estimate more funds need to be raised to fully fund VRL's estimated USD 2.1 billion of FY24 (April 2023 to March 2024 fiscal year) debt refinancing needs (USD 850 million covered, implying a gap of USD 1.25 billion), we think VRL still has multiple funding avenues to tap onto. These include share pledges and dividend upstreaming," it had said. The firm had last on April 24 stated that it had cut gross debt to USD 6.8 billion after repayments. "Vedanta is targeting further debt reduction during the balance of FY24, and ultimately intends to lower gross debt towards zero," the company statement said Wednesday. "This will be aided by our expectations of robust demand, particularly in India, coupled with strong operational performance from our world-class asset base.. Vedanta's gross debt as of today stands at USD 6.4 billion, down from USD 6.8 billion at the end of April 2023, USD 7.8 billion at the end of March 2023, and USD 9.7 billion at the end of March 2022. It however did not indicate a timeline for reaching zero gross debt. "We remain aware of refinancing risk on VRL's USD 4.1 billion debts due in FY24, for which VRL will likely have to rely heavily on external fundraising for a USD 2.1 billion refinancing and an additional USD 950 million to plug a funding gap. "At this point, we would still lean towards VRL being successful at tying up its USD 2.1 billion of fundraising, given VRL's track record of 'going to the brink and succeeding', recent debt reductions, recent fresh fundraising efforts and that we think various alternative funding channels remain open for VRL, despite the tighter bank funding conditions," CreditSight had said. These avenues include pledging of promoter stake in the main operating company Vedanta Ltd and further dividend upstreaming from operating companies. "We also think VRL's timely debt repayments thus far and recent refinancing progress could support lending sentiment," it had said. "We caution of execution risk: VRL's refinancing of the USD 1-1.25 billion loan is not finalised yet and a lack of progress, a failure of refinancing talks, or its inability to tie up the loan for late-FY24 pose downside risks to our recommendation." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/fintech-unicorn-taxfix-lays-off-120-employees-to-cut-costs/articleshow/100646092.cms">Fintech unicorn Taxfix lays off 120 employees to cut costs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/delhi-metro-launches-whatsapp-based-ticketing-service-on-airport-line/articleshow/100646250.cms">Delhi Metro launches WhatsApp-based ticketing service on Airport Line</a>

Vedanta Resources pays $400 million debt, borrowings down to $6.4 billion

<table class="image-container float_right click-to-enlarge" width="200"><tr><td><div class="image"><a title_source="Flickr Images Money" title_caption="Photo via Taxfix.co.uk" class="zoomin" href="http://static1.businessinsider.com/image/4e1cc0deccd1d5f22f000000-960/Picture-2-65.jpg"><a href="http://taxfix.co.uk/"></a></a></div><a href="http://www.flickr.com/photos/59937401@N07/5474194477/">Flickr Images Money</a>Photo via <a href="http://taxfix.co.uk/">Taxfix.co.uk</a></td></tr></table>Most markets are fairly quiet today (although downish) but the action is in the <keyword id="6378917" type="ORGANIZATION" weightage="60" keywordseo="Currency">currency</keyword> market.
There are three notable stories.
1. The G7 Finance Ministers have issues a <a href="http://www.businessinsider.com/g7-statement-on-currency-2013-2">lukewarm comment</a> about how countries should not engage in exchange rate manipulation. The big winner is seen as Japan, since it wasn't called out for currency manipulation.
2. Speaking of currency manipulators, the heat of the Swiss National Bank said that it will keep the Swiss Franc's ceiling against the Euro, and that he believes the Franc <a href="https://twitter.com/Kelly_Evans/status/301281686245736449">remains overvalued</a>.
3. The Pound is getting hammered today after inflation data from the UK. The pound has been getting pummeled lately, in part due to deteriorating data.
In a recent note, Kit Juckes made a simple argument for long-term pound decline:
Both the US and UK released trade data for December at the end of last week. The US data were encouraging, showing the smallest monthly deficit since January 2010, while the UK data were not far from expected. The data do however show divergent trends in the balance of trade in oil. The individual monthly data are distorted, but the trends are clear - the US energy deficit is shrinking quickly and the UK's oil deficit is growing steadily. North Sea oil is running out and the US is at the start of an energy boom. The latter has attracted a lot of attention in the press but it is beginning to show up in the data and there are is a lot further to go.

You Searched For "Taxfix" and got 4 results

Fintech unicorn Taxfix lays off 120 employees to cut costs

IANS

Delhi Metro launches WhatsApp-based ticketing service on Airport Line

PTI

Vedanta Resources pays $400 million debt, borrowings down to $6.4 billion

PTI

Three Big Stories In The Currency Market Are Happening Today

Joe Weisenthal

Popular Keywords

Buying Guides