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<keyword id="18635" type="General" weightage="100" keywordseo="amazon" source="Orion">Amazon</keyword> has announced to freeze new hirings in its corporate workforce, with the global economy "in an uncertain place". Beth <keyword id="4585658" type="General" weightage="80" keywordseo="galetti" source="Orion">Galetti</keyword>, Amazon's senior vice president of people experience and technology, confirmed the move in a memo that the company had already begun pausing or slowing hiring in various corporate departments in "recent weeks". "We're facing an unusual macro-economic environment, and want to balance our hiring and investments with being thoughtful about this economy," Galetti wrote. "With fewer people to hire at this moment, this should give each team an opportunity to further prioritise what matters most to customers and the business, and to be more productive," he added. Amazon CEO <keyword id="742297" type="General" weightage="50" keywordseo="andy-jassy" source="Orion">Andy Jassy</keyword> has been looking for ways to cut costs across the company. "Good companies that last a long period of time, who are thinking about the long term, always have this push and pull. There are some years where they're expanding really broadly. Some years where they're checking in and working on profitability, tightening the belt a little bit," he said recently. Galetti said that the company anticipates "keeping this pause in place for the next few months, and will continue to monitor what we're seeing in the economy and the business to adjust as we think makes sense". "In general, depending on the business or area of the company, we will hire backfills to replace employees who move on to new opportunities, and there are some targeted places where we will continue to hire people incrementally," he noted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-trend-lower-as-global-cues-weigh-on-sentiments/articleshow/95293082.cms">Indian markets trend lower as global cues weigh on sentiments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-electra-ev-raises-25-million-from-gef-capital-partners/articleshow/95291703.cms">Ratan Tata-backed Electra EV raises $25 million from GEF Capital Partners</a>

Amazon freezes corporate hirings amid rough economic conditions

<ul><li>This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history.</li><li>The highest package offered during the drive was ₹ 3.5 lakh per month.</li><li>The average and median stipends offered to students were ₹ 1.41 lakh per month and ₹ 1.5 lakh per month. </li></ul> The Indian Institute of Management, <keyword id="6355192" type="General" weightage="50" keywordseo="lucknow" source="Orion">Lucknow</keyword> (IIM-L) has scored 100 per cent placement in its summer placement drive. The drive -- held for the 38th batch of <keyword id="473399" type="General" weightage="50" keywordseo="post-graduate-programme-in-management" source="Orion">Post Graduate Programme in Management</keyword> and 19th batch of PG Programme in Food and Agri-Business Management -- saw 566 students getting a total of 570 offers. This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history. According to a press release issued by IIM-L, the highest package offered during the drive was ₹ 3.5 lakh per month. The average and median stipends offered to students were ₹1.41 lakh per month and ₹ 1.5 lakh per month, respectively. This is also the highest-ever in IIM-L's history, added the communique. Students secured offers in varied fields -- including consulting, finance, general management, IT &amp; analytics, sales and marketing, operations and retail e-commerce -- from top recruiters across the globe. During the drive, several major companies came to hire IIM-L students for the first time. These included -- Alkem Laboratories, Berger Paints, Bharat Serums &amp; Vaccines, Big Basket, Castrol, CK Birla, DSP Investment Managers, GEF Capital Partners, <keyword id="720079" type="General" weightage="50" keywordseo="ivycap-ventures" source="Orion">IvyCap Ventures</keyword>, <keyword id="1196648" type="General" weightage="50" keywordseo="lincoln-international" source="Orion">Lincoln International</keyword>, L'oreal, Ninjacart, Redseer Consulting, SBI Capital, Sony Pictures, The <keyword id="1855697" type="General" weightage="50" keywordseo="rohatyn-group" source="Orion">Rohatyn Group</keyword>, <keyword id="4053635" type="General" weightage="80" keywordseo="transunion-cibil" source="Orion">Transunion Cibil</keyword>, and <keyword id="5921903" type="General" weightage="80" keywordseo="whiteboard-capital" source="Orion">Whiteboard Capital</keyword>. Meanwhile, several other companies that have recruited from the institute earlier as well also participated in the drive. These included -- Accenture, Aditya Birla Group, Adobe, Alvarez &amp; Marsal, Amazon, Arthur D. Little, Atlassian, <keyword id="6429146" type="General" weightage="80" keywordseo="avendus-capital" source="Orion">Avendus Capital</keyword>, Bain &amp; Company, Boston Consulting Group, Citi Group, Colgate-Palmolive and Deloitte. "Despite the current state of economy, the placement drive was made a huge success by the relentless support of recruiters and placement teams, making it the best placements with more than 185+ recruiters participating in the process," said the IIM-L release SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-dominate-the-india-rich-list-with-the-gap-between-them-the-rest-of-india-inc-being-a-very-large-one/articleshow/94751112.cms">Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-to-declare-iphone-5c-obsolete-by-next-month/articleshow/94750969.cms">Apple to declare iPhone 5c 'obsolete' by next month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/1000-ev-charging-stations-to-be-set-up-in-delhi-in-a-year-govt/articleshow/94742229.cms">1,000 EV charging stations to be set up in Delhi in a year: govt</a>

IIM-L scores 100% placement

The <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> appreciated 25 paise to 82.63 against the US dollar in early trade on Friday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 82.85 against the dollar, then gained ground to touch 82.63, registering a rise of 25 paise over its previous close. On Thursday, the rupee settled 8 paise lower at 82.88 against the US dollar. Rupee was under pressure through Thursday's session on broad dollar strength. There is, however, some respite overnight, IFA Global Research Academy said in a note. "We expect it to trade in a 82.50-82.80 range with sideways price action," it added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 112.67. Brent crude futures, the global oil benchmark, advanced 0.75 per cent to <keyword id="54123" type="General" weightage="50" keywordseo="usd" source="Orion">USD</keyword> 95.38 per barrel. In the domestic equity market, the 30-share <keyword id="53232" type="General" weightage="50" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 9.85 points or 0.02 per cent higher at 60,846.26. Similarly, the broader <keyword id="372424" type="General" weightage="50" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> rose 10.85 points or 0.06 per cent to 18,063.55. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 677.62 crore, according to exchange data. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-electra-ev-raises-25-million-from-gef-capital-partners/articleshow/95291703.cms">Ratan Tata-backed Electra EV raises $25 million from GEF Capital Partners</a> <a href="https://www.businessinsider.in/finance/news/september-earnings-on-track-but-its-time-to-tone-down-optimism-says-kotak-institutional-equities/articleshow/95272073.cms">September earnings on track, but it’s time to tone down optimism says Kotak Institutional Equities</a> <a href="https://www.businessinsider.in/international/news/read-the-first-memo-from-elon-musks-twitter-to-employees-confirming-plans-for-layoffs-and-ordering-the-temporary-closure-of-all-offices/articleshow/95288105.cms">Read the first memo from Elon Musk's Twitter to employees confirming plans for layoffs and ordering the temporary closure of all offices</a>

Rupee gains 25 paise to 82.63 against US dollar in early trade

The shares of <keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword> on Friday rose 6.5 per cent to Rs 321 a piece on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>. In a span of five days, the mining company had rallied nearly 14 per cent on the back of the company's earnings announcement and heavy volumes. The company last week had announced an expansion of rolled-product capacity at Balco from the existing 50 KTPA to 180 KTPA at a revised cost of Rs 595 crore. With the completion of this project, Balco will be placed in the high-premium product segment. It also said the expansion of Balco smelter capacity from an existing capacity of 580 KTPA to 994 KTPA by way of an expansion project of 414 <keyword id="15432757" type="General" weightage="50" keywordseo="ktpa-smelter" source="Orion">KTPA smelter</keyword>, at a revised cost of Rs 8,094 crore, subject to requisite government approvals. The Mumbai-headquartered had announced revenue during the second quarter with a 20.6 per cent growth to Rs 36,237 crore from Rs 30,048 crore reported a year ago. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) decreased by 24 per cent to Rs 8,038 crore on account of input commodity inflation and lower output commodity prices; partially offset by improved operational performance, hedging gains and foreign exchange gains. During the earnings announcement, <keyword id="150453" type="General" weightage="50" keywordseo="sunil-duggal" source="Orion">Sunil Duggal</keyword>, Chief Executive Officer, Vedanta, had said "I am pleased to share that we have generated strong free cash flow (pre-capex) of Rs 8,369 crore underpinned by robust operational and financial performance. I am also happy to inform you that Vedanta has entered into the club of top 10 Dow Jones Sustainability Indices (DJSI) ranked global metals and mining companies; ranking sixth globally." The holding company of India's Vedanta -- Vedanta Resources -- had terminated Moody's rating services. Moody's on October 31 had downgraded the corporate family rating of Vedanta Resources to B3 from B2 and senior unsecured bonds rating to Caa1 from B3. While downgrading, Moody's highlighted that Vedanta was yet to find a source of funding for its $900-million bond maturities due in April and May 2023. On Wednesday, the global diversified natural resources company secured a coveted spot among the top 10 global metal and mining companies by ranking sixteenth out of 216 companies globally (98th percentile) and second in Asia Pacific by S&amp;P Global Corporate Sustainability Assessment 2022, formerly known as Dow Jones Sustainability Index - DJSI. The shares of the company on Friday closed 6.5 per cent up at 322.60 apiece on the BSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-electra-ev-raises-25-million-from-gef-capital-partners/articleshow/95291703.cms">Ratan Tata-backed Electra EV raises $25 million from GEF Capital Partners</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-25-paise-to-82-63-against-us-dollar-in-early-trade/articleshow/95292019.cms">Rupee gains 25 paise to 82.63 against US dollar in early trade</a>

Vedanta shares rally 14% in five days on the back of earnings, heavy volumes

Constantly dreaming of a leisurely getaway with your friends? Looking to create new memories instead of reminiscing old ones? For the first time, <keyword id="719382" type="General" weightage="100" keywordseo="airbnb" source="Orion">Airbnb</keyword> and IndiGo have come together to offer three lucky individuals (and up to one companion each) the ultimate dream adventure to "<a href="https://www.airbnb.co.in/d/indigo-closed" target="_blank">InterFriendtion</a>" anywhere in India*. Through the contest, Airbnb and IndiGo are seeking three special winners who will fly and live anywhere in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> for a vacation of a lifetime with their friends. The winner will win an incredible USD 1000 each worth of Airbnb credits to book a domestic Airbnb stay of their choice and IndiGo will sponsor the return tickets for these winners and their companion to that destination! During their travel, the winners and their companions will get to travel to their bucket list destination with IndiGo and stay in some of India's most unique Airbnbs. "Indians today are eager to travel and are seeking unique, meaningful and restorative experiences with their loved ones. Travelling has become a great way of spending quality time with family and friends and creating new memories at offbeat destinations and unique accommodations. Our partnership with IndiGo celebrates and caters to this demand, and we are excited to provide our guests endless possibilities to explore and reconnect with their loved ones while travelling," said <keyword id="674162" type="General" weightage="50" keywordseo="amanpreet-bajaj" source="Orion">Amanpreet Bajaj</keyword>, Airbnb's General Manager for India, Southeast Asia, Hong Kong and Taiwan. "In the hustle and bustle of life, we sometimes forget to rekindle friendships, take a break, and create new memories. IndiGo has always aspired to make the world a smaller place, by reducing the distance between people and fostering human connections. We are pleased to associate with Airbnb in a collaboration that encapsulates travel, exploration, and friendship. Through this unique partnership we aim to inspire friends to come together, experience destinations and spark new memories that will last a lifetime," said <keyword id="12802236" type="General" weightage="50" keywordseo="neetan-chopra" source="Orion">Neetan Chopra</keyword>, Chief Digital and Information Officer of IndiGo. How to apply for your perfect 'InterFriendtion' Starting November 5, 11:00 AM IST, through November 12, 11:59 PM IST, eligible applicants may apply by visiting <a href="https://www.airbnb.co.in/d/indigo-closed" target="_blank">airbnb.com/indigo</a> and completing the application form. Participants must be over 18, and available to travel within India from 1 December 2022 to 30 April 2023. The shortlisted winners will be contacted directly by Airbnb and IndiGo on November 30, 2022. For more information, see the <keyword id="15431172" type="General" weightage="50" keywordseo="contest-rules" source="Orion">Contest Rules</keyword>. *T&amp;Cs apply, please check out the contest rules for all details. Airbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home and has since grown to 4 million Hosts who have welcomed more than 1 billion guest arrivals in almost every country across the globe. Every day, Hosts offer unique stays and one-of-a-kind activities that make it possible for guests to experience the world in a more authentic, connected way. <a href="https://www.airbnb.co.in/" target="_blank">www.airbnb.co.in.</a> IndiGo is amongst the fastest-growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, offering a courteous, hygienic, and hassle-free travel experience. With its fleet of 280+ aircraft, the airline is operating over 1600 daily flights and connecting 74 domestic destinations and 26 international destinations. <a href="https://www.goindigo.in/" target="_blank">www.goindigo.in.</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-electra-ev-raises-25-million-from-gef-capital-partners/articleshow/95291703.cms">Ratan Tata-backed Electra EV raises $25 million from GEF Capital Partners</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/amazon-freezes-corporate-hirings-amid-rough-economic-conditions/articleshow/95293651.cms">Amazon freezes corporate hirings amid rough economic conditions</a>

Airbnb and IndiGo come together for an 'InterFriendtion'

The most recent therapeutic development efforts, notably in cancer, focus on the targeted breakdown of <keyword id="15428797" type="General" weightage="20" keywordseo="dangerous-pathogenic-proteins" source="Orion">dangerous pathogenic proteins</keyword>. In a new study, researchers revealed probable resistance mechanisms and gave insights on how to overcome them. The research was conducted by CeMM, the Austrian Academy of Sciences Research Center for Molecular Medicine, and the University of Dundee (UK) and the findings were published in <keyword id="375964" type="General" weightage="20" keywordseo="Nature-Chemical-Biology" source="Orion">Nature Chemical Biology</keyword>. Traditional targeted cancer therapies mainly rely on drugs that bind pathogenic proteins and inhibit their function. The latest development of drugs has brought forward chemical molecules known as degraders, which force the targeted degradation of disease relevant proteins. This method of targeted protein degradation is not only more efficient, but also better at overcoming <keyword id="15428798" type="General" weightage="20" keywordseo="potential-drug-resistance" source="Orion">potential drug resistance</keyword>. For many years, CeMM Principal Investigator Georg Winter and his research group have been working on further developing this paradigm. Small-molecule degraders work like a glue by recruiting the defective, disease-causing protein to effectors of the cellular waste disposal systems, which are known as E3 ubiquitin ligases. This binding in turn kick-starts the degradation process of the defective protein. Alexander Hanzl, first author and PhD student in the Winter Lab at CeMM, conducted a study to investigate which resistances can arise during the degradation process. He explains, One challenge with degraders is that they have to bind two sites at once - both the defective protein and a protein of our cell's own degradation system, the E3 ligase. It is therefore all the more important to understand the process of binding and ubiquitination in functional detail. Only then can future degraders be modeled in the best possible way. Results confirm clinically observed resistances In their study, the authors identified a variety of mutations on E3 ligases which mediate resistances in cell cultures. These include mutations already identified in patients whose therapy with degraders was unsuccessful. Georg Winter, who supervised the study, explains: We tested a large number of different proteins and degraders. On one hand, we see that some mutations in E3 ligases prevent defective proteins from being recruited. At the same time, however, we see that some of these mutations exhibit high sensitivity to chemically modified degraders. Therefore, mutations can still be targeted by changing the chemical structure of the degrader. In other words, resistances can be overcome. This demonstrates that the results of this study can have clinical relevance as well. Increasing the reach of degraders A number of degrader drugs are currently being tested in clinical trials, and some are already available to patients, especially for various types of blood cancers. The increased understanding of resistance mechanisms enables further improvement of these types of drugs. "Traditional therapeutics that take the approach of blocking an isolated function of a protein only reach about 20 per cent of our proteins. For the other 80% there are no suitable binding sites and as a result, they cannot be targeted. We see great potential in this new generation of drugs using targeted protein degradation to significantly increase the space of targetable proteins and potentially reach the remaining 80 per centof proteins", Winter says. The study results make an important contribution to the improved design of degraders. Cancer patients in particular could benefit from a clinical application of the findings in the future. Alessio Ciulli, professor at the University of Dundee, added, For the first time we have been able to examine at the molecular level how <keyword id="4121085" type="General" weightage="20" keywordseo="drug-resistance" source="Orion">drug resistance</keyword> emerges by virtue of these E3 ligase mutations. This is extremely important because these findings highlight the mechanism that can anticipate how a patient might respond to these drugs." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-electra-ev-raises-25-million-from-gef-capital-partners/articleshow/95291703.cms">Ratan Tata-backed Electra EV raises $25 million from GEF Capital Partners</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-has-the-widest-gender-wealth-gap-in-the-apac-region-wtw-report/articleshow/95280634.cms">India has the widest gender wealth gap in the APAC region: WTW report</a>

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Amazon freezes corporate hirings amid rough economic conditions

IANS

IIM-L scores 100% placement

IANS

Rupee gains 25 paise to 82.63 against US dollar in early trade

IANS

Vedanta shares rally 14% in five days on the back of earnings, heavy volumes

ANI

Airbnb and IndiGo come together for an 'InterFriendtion'

ANI

Study finds new approach to overcome potential drug resistance in cancer therapy

ANI

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