Corporate

SpaceX CEO Elon Musk has said that his space-based Internet service Starlink will list publicly after the cash flow of the service becomes "reasonably well". Musk made the plans public after a users asked on Twitter: "Will starlink IPO soon? Would love to invest!" In his reply, Musk said: "Once we can predict cash flow reasonably well, Starlink will IPO." SpaceX's Starlink project plans to deliver...

 India’s budgetary boost for startups is expected to trigger employment generation, besides ushering in manufacturing and innovation-led growth in FY22. According to the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Guruprasad Mohapatra, measures such as extension of startup tax holiday and norms to incorporate One Person Companies (OPCs) will give a major boost to the sector and...

The Delhi High Court on Monday stayed the implementation of single-judge order to Future Retail Ltd (FRL) and various statutory authorities to maintain status quo regarding the Rs 24,713 crore deal with Reliance Retail. The court also turned down Amazon's request to keep its order in abeyance for a week so that it can explore appropriate remedies. A bench of...

The Delhi High Court on Monday overturned an order that had stalled Future Group's $3.4 billion deal to sell its retail assets, two sources said, in a setback for Future's partner Amazon.com Inc, which has challenged the sale. The court had last week sided with the US online retailer and put Future's asset sale to Reliance Industries on hold, leading...

Gurugram-based online travel aggregator ixigo on Thursday said it is acquiring Bengaluru based online train discovery and booking platform Confirmtkt for an undisclosed amount across a mix of cash and ixigo stock. The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the...

Adani Enterprises, the flagship company of Adani group, on Wednesday, February 3, reported a 10.39 per cent fall in its consolidated profit to ₹ 343.17 crore for the third quarter of the current financial year. The Gautam Adani-led company had clocked a consolidated profit of ₹ 382.98 crore in the corresponding quarter a year ago, the firm said in a...

Alphabet, the parent company of Google, has reported strong fourth-quarter earnings at $56.9 billion riding on its Search and YouTube growth, and disclosed numbers for its cloud business for the first time. Google Cloud's sales revealed a $5.6 billion annual loss in 2020, but a nearly 50 per cent jump in revenue ($13 billion) compared to 2019. Google Cloud reported...

Jeff Bezos, who founded Amazon as an online bookstore and built it into a shopping and entertainment behemoth, will step down later this year as CEO, a role he's had for nearly 30 years, to become executive chairman, the company announced Tuesday. Bezos, 57, will be replaced in the fall by Andy Jassy, who runs Amazon's cloud-computing business. In a...

The Confederation of All India Traders (CAIT) has welcomed the Budget proposal to impose 2 per cent extra tax on foreign e-commerce companies whether engaged in business of sale of goods or providing services, acceptance of offer for sale, placing of purchase order, acceptance of purchase order, payment of consideration or supply of goods and services partly or wholly. As...

·         Issue of up to 46,13,25,021 fully paid-up equity shares of face value of Rs. 10 each (“Equity Shares”) for cash at a price of Rs. 65 per Equity Share (including a premium of ₹ 55 per equity share) not exceeding Rs. 2,998.61 crore* on a rights basis (“Issue”). ·         The Equity Shares will be offered in the ratio of...