BUSINESS
Indian startups see huge 35% drop in funding, edtech among worst performers
The significant drop in funding is attributed to a decline in late-stage investments, which fell by 45 per cent from $29.3 billion in January-November 2021 to $16.1 billion for the same period this year, according to data provided by Tracxn, a leading global market intelligence platform. Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year.
Delhi High Court issues notice to Ashneer Grover on BharatPe's plea
The application also seeks direction to defendants to delete/remove within a period of five days all statements, tweets, social media posts, books, re-tweets, hashtags, videos, press conferences, interviews, comments, etc., made against the company and orders granting liberty to BharatPe to approach all social media platforms, media organisations, publications, websites, blogs, etc., to seek deletion/removal of all such material.
Air India commits over $400 million to fully refurbish existing widebody aircraft cabin interiors
This refurbishment will see a complete overhaul of existing cabin interiors, including the addition of latest generation seats and best in-class inflight entertainment across all classes. In addition, the refurbishment will see the introduction of a Premium Economy cabin on both fleets. The First Class cabin will also be retained on the 777s.
Twitter considering $11 for Blue service with verification for iPhone users
According to a report in The Information, the micro-blogging platform has informed some employees that it plans to change the pricing of its Twitter Blue subscription service. The company executives are considering charging $7 for Blue service for Twitter on the web and $11 via iOS app on iPhones, the report said, quoting sources.
BharatPe sues Ashneer and wife, asks them to repay over Rs 88 crore for swindling firm
"BharatPe has initiated civil and criminal action against erstwhile Co-Founder and Managing Director, Ashneer Grover, former Head of Controls, Madhuri Jain Grover, and other connected parties of their family for various claims, including misappropriation of company funds," a company spokesperson told IANS.
Dorsey challenges Musk to make everything public now; Twitter CEO responds
Dorsey challenged Musk on Twitter that "if the goal is transparency to build trust, why not just release everything without filter and let people judge for themselves? Including all discussions around current and future actions? Make everything public now". Musk replied on Thursday: "Most important data was hidden (from you too) and some may have been deleted, but everything we find will be released".
LIC can be converted into composite insurer merging 4 PSU general insurers with it
The amendments proposed are: allowing composite insurers -- one insurer selling life and non-life insurance policies; enabling the insurance regulator to fix the minimum capital required and scrapping the statutory limits; changes in the investment norms; allowing different kinds of insurers including captives and others.
Musk briefly loses world's richest man's title to Bernard Arnault
According to Forbes, Arnault and his family logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before reaching around $190 billion. Musk's wealth has fallen $100.5 billion so far in 2022, as per Bloomberg Billionaires Index
Indian-origin investor livid after losing $2 million in FTX crash
Delhi-born Evan Singh Luthra, 27, first invested in crypto with FTX in 2020. He told Fox Business that a legal team representing him is currently pursuing legal action against FTX CEO Sam Bankman-Fried (SBF) for his alleged wire fraud. "This was a con. Sam Bankman-Fried is a fraud. He committed fraud," Evan Singh Luthra said on Fox's "Mornings with Maria".
RBI's inflation control measures turn home loan EMIs inflationary
On Wednesday, the RBI hiked the repo rate by 35 basis points. The repo rate is the rate at which RBI lends to commercial banks. Housing finance companies in turn borrow from the commercial banks and lend to homebuyers. This fiscal, the RBI has increased repo rate by 2.25 per cent and the housing loan companies will pass on the increased rate to their borrowers.
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