ET Exclusive, Byju's reportedly braced key shareholders that audited revenues are likely to be below projected earnings. Mukesh Ambani-backed Jio is set to get a clearance for satellite communication services from the Telecom Department. Another major fire involving EV scooters claims 8 lives and injures several others in Telangana. In global news, exercise bike maker Peloton sees a big shake-up as the founder exits the company as shares continue to fall, down 90% this year.
This is the Daily Edit from the economic times. Your quick capsule of daily business news. It is September 13. And here is what we are tracking ahead of the much awaited and much delayed earnings report from Ed Tech giant Byju's Economic Times learns from sources that Byju Ravindran, the co founder and chief executed as briefed shareholders that audited revenue may be lower than projected. The discrepancies arose due to a change in the way the startup recognizes its revenue sources. privy to the matter said India's most valued startup has faced heightened scrutiny for the 18 month delay in filing its accounts. A Reliance Jio unit has just received a key approval from the Department of telecommunications to start high speed broadband from space services. A top government official told et Jio satellite communications limited had applied for a global mobile personal communications by satellite services license earlier this year, and will shortly be issued a letter of intent Jio's satellite arm is the second company to receive department of telecommunications approval to deliver broadband services via satellite after party group backed one web of fire broke out at Ruby electrical scooter showroom located near the passport office at Secunderabad in Telangana, which reportedly has led to the death of eight people while severely injuring many others. The fire broke out at the electric scooter showroom on the ground floor of the building and soon engulfs the first and second floor as for reports. In global news home exercise equipment maker peloton announced a major shake up with co founders John Foley leaving the company. The move is part two of a step down which started in February when co founder Foley stepped down as CEO amid a 2800 personally of the business which boomed during the pandemic has seen a sharp decline with inventories piling up the stock had plummeted 90 percentage this year. You have been listening to Roopsha Dasguupta, tune into et play Economic Times latest platform for all audio content
ET Play/opinion the daily edit/daily news capsule sept 13 2022