Surge in VC Exits At Startups

Venture capital fund exits in Indian startups surged in 2021, says a report. Here’s why.Venture capital fund exits in Indian startups grew over ten-fold to surge past $14 billion in 2021 over the previous year, a recent report by Bain & Company in collaboration with Indian Venture and Alternate Capital Association finds. This was across secondary transactions and initial public offerings (IPOs),...

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'Champions League of tax avoidance:' Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue

 Riccardo Savi/Getty ImagesUber CEO Dara Khosrowshahi. Uber used around 50 Dutch shell companies to help reduce its global tax burden, an Australian research group found. Despite earning $5.8 billion in global revenues in 2019, Uber claimed a $4.5 billion loss for tax purposes. One researcher called Uber’s alleged scheme “the Champions League of tax avoidance.” See more stories on Insider’s...

TSLA Slides After Beating EPS, But All "Net Income" Comes From Sale Of Reg Credits And Bitcoin

TSLA made $100MM in 1 month of trading crypto, more than it ever made selling cars in 14 years (ex reg credits). It should shut all money losing ventures and become a full time trading desk. Wall Street expectations from TSLA's earnings today are rather stratospheric, but as Bloomberg notes, even if the company misses big, the S&P 500 likely won’t be in the doldrums tomorrow because of...

Facebook Plans To Launch Stablecoin That Will Compete With Dollar Early Next Year

A couple of days ago, Morgan Stanley warned that China's new digital renminbi - the first "central bank digital currency" (or CBDC) - could cement its status as the next reserve currency. But as government and Wall Street continue their embrace of virtual currencies that, some say, threaten to blow up the industry status quo and eliminate the need for banks, corporations are also striving to create...

Can Huarong Go Bankrupt?

By Ling Huawei, managing editor of Caixin Media and Caixin Weekly. Originally published in Caixin,After China Huarong Asset Management Co. Ltd. on March 31 decided to suspend its share trading the next day, the market became awash in rumors that the company, one of the country’s four largest bad-asset managers, would be forced into restructuring or might even go bankrupt (as we discussed in "This...

Alibaba Fined, Thanks Regulators...

China Giveth, China Taketh away.... Chinese regulators have fined Alibaba 18 billion yuan ($2.75 billion) - around 4% of its revenues in 2019 - for violating anti-monopoly rules and abusing its dominant market position.The State Administration for Market Regulation has also ordered Alibaba to make "thorough rectifications" to strengthen internal compliance and protect consumer rights. ($1 =...

Centre admits to earning Rs 33 per litre from petrol, Rs 32 from diesel; says no plan to bring fuel under GST

The central government on Monday informed Parliament that it earns almost Rs 33 from the sale of every litre of petrol and Rs 32 from per litre of diesel.Centre earns around Rs 33 on the sale of each litre of petrol, the govt has told Lok Sabha | Picture Credits: PTIEven as the petrol and diesel prices continued to stay at the all-time high for the 16th straight day on Monday, the Centre told Parliament...

India: The safest banks for your deposits in 2021 - Q3 FY 2021 update

Bank NameScoreCommentAxis Bank Ltd4.00Meets all RBI PCA parameters as per the latest available resultsCatholic Syrian Bank Ltd4.00Meets all RBI PCA parameters as per the latest available resultsCity Union Bank Ltd4.00Meets all RBI PCA parameters as per the latest available resultsDevelopment...

Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India are shortlisted for privatisation

Now the government has shortlisted four mid-sized state-run banks for privatisation. Earlier, the government was considering only two public sector banks but now it plans to privatise four banks.According to a tweet by journalist Aadesh Rawal, the government has taken the call to do so. The four banks shortlisted are Bank of Maharashtra, Bank of India, Indian...

Bitcoin Will Soon Become ‘The World’s Currency’, Says Crypto CEO

PA ImagesLeading global bank Citi believes Bitcoin is now at a ‘tipping point’, and the CEO of a major crytpocurrency exchange has said ‘it’s going all the way to the moon’.This comes as big companies such as Tesla, PayPal and Mastercard begin to show favour towards Bitcoin, while central banks have started exploring the potential to issue their own digital currencies.In a note dated Monday,...

UPI registers 2.29 billion transactions in February

  Unified Payments Interface or UPI has registered 2.29 billion transactions worth over 4 lakh 25 thousand crore rupees in the last month. As per the data released by the National Payments Corporation of India , UPI has been able to maintain its previous record in terms of average transaction value even in 28 days for the month of February.   While NPCI...

How This CEO Surged Into the Multibillion-Dollar Mattress Industry

Puffy's cloud-like mattress feel is revolutionizing the way Americans sleep, and CEO Arthur Andreasyan is just getting started Image credit: Pixabay By Lakshay Jain The...

Franklin Templeton top execs withdrew crores from the wound up fund just before they were locked to the public

Evidence from the SEBI inquiry are slowly coming into public domain and it doesnt show these executives acted in good faith. The top executives of FT India including Sanjay Sapre, his wife Pradipta Sapre, Vivek Kudwa (Head of APAC at FT), his wife and mother, Aravind Vasudeo...

Directors Appointment in India Maybe Suject to Dual Approval

In a consultation paper, the market regulator tightened norms with regard to the resignation of independent directors on the grounds of personal reasons or other commitments The Securities and Exchange Board of India (Sebi) is proposing to give a greater say to minority shareholders ...

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