BUSINESS
Jack Dorsey to take home nearly $1 billion once Musk's Twitter deal closes
Dorsey holds 2.4 per cent or a little over 18 million shares in the company and after once the $44 billion deal is closed, his Twitter shocks will be converted into cash, reports The Warp. With Musk's offer to buy each Twitter share for $54.20, Dorsey would receive a $978 million in cash.
150 mn people across 40 countries using Google Pay: Sundar Pichai
During the company's quarterly earnings call, Pichai said that the digital payments work in India is "certainly what really got everything started". "We now have 150 million people across 40 countries using Google Pay. We're making sure it works across the board, works well, easy to use for all the sites. And then over time, we will innovate and build new digital experiences," Pichai said late on Tuesday.
Round tripping of industrial inputs by large players unfavourable to local value chains
According to Ashok Kumar Agrawal, National Convener, Indian Industrial Value Chain Council (IIVCC), "As the country is rapidly rising from the ravages of the pandemic, there is a need to nurture and protect local manufacturing value chains, so that all participants, from large to small, medium and micro enterprises can benefit.
LIC IPO: Price band fixed at Rs 902-949, Rs 60 discount for policyholders
Also, the policyholders will be offered a Rs 60 discount, while for retail investors, the discount will be Rs 45, the sources said. The long-awaited Initial Public Offering (IPO) is likely to open for investors on May 4 and will remain open to subscription till May 9.
Tinna Rubber hits upper circuit, investors accumulate 900% returns in year
To be precise, the shares rose 926 per cent in the past 12 months, exchange data showed. Reportedly, well-known investor Dolly Khanna is one of the investors in the company. Founded in 1977, Tinna Rubber and Infrastructure deals in footwear, agro commodities, among others, as per its website.
Net direct tax collection reaches highest-ever figure in FY 22
The net direct tax collection has increased by 49.02 per cent during financial year 2021-22, while it has registered a growth of 34.16 per cent in FY 2021-22 over the collections of 2019-20 when the net collection was Rs 10,50,680.56 crore, and a growth of 23.90 per cent over 2018-19 when the net collection was Rs 11,37,718.48 crore, J.B. Mohapatra said.
TA'ZIZ, Reliance sign shareholder agreement Ruwais chemicals project
Reliance is India's largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA'ZIZ EDC & PVC, a world-scale chemicals development at the TA'ZIZ Industrial Chemicals Zone in Ruwais
Local banks rebuffed $3.2 billion offer from Mukesh Ambani's conglomerate: Report
Debt-laden Future Retail Ltd.'s offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100 per cent payment in the rescue offer from billionaire Mukesh Ambani, according to people with knowledge of the matter. Indian lenders were asked to take a haircut of as much as 66 per cent, the people added, asking not to be identified discussing confidential information, Bloomberg reported.
Musk has to manufacture here to sell Tesla cars in India: Gadkari
Reiterating that Musk will not get any special treatment when it comes to customs duties, Gadkari said during the 'Raisina Dialogue 2022' that if Musk wants to manufacture in China and sell Tesla cars here, "it cannot be a good proposition for India". In February also, Gadkari had said that Musk has to manufacture in India first in order to roll out Tesla cars on the roads.
Shareholders, creditors of Jindal Steel & JSHL approve merger scheme
Notably, the scheme of merger was approved by an overwhelming majority, it said in a statement.
The meetings to approve the Scheme of Arrangement were organised on April 23, pursuant to the order pronounced by the National Company Law Tribunal (NCLT), Chandigarh Bench. The companies will now file the second motion application with the tribunal, it said in the statement.
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