• Bill Gates’ wealth hits $100 bn, becomes centibillionaire: Bloomberg

    Bill Gates’ wealth hits $100 bn, becomes centibillionaire: Bloomberg
    Published Date : 20-Mar-2019 3:39:57IST

    Microsoft Co-founder Bill Gates’ wealth has hit the $100 billion mark, making him a centibillionaire and the only second person besides world’s richest person, Amazon Founder Jeff Bezos, with $100 billion wealth, Bloomberg said on Wednesday. Amazon’s 55-year-old Founder is now worth $145.6 billion after adding $20.7 billion to his wealth this year. Microsoft’s 63-year-old Gates gained $9.5 billion.

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  • Rupee turns positive for 2019 against US dollar

    Rupee turns positive for 2019 against US dollar
    Published Date : 12-Mar-2019 4:52:20IST

    The Indian rupee on Tuesday rose to a two-and-a-half month high of 69.5 against the US dollar, wiping out all its losses for the year. Since the start of this year, foreign institutional investors have bought Indian equities worth $3.13 billion and sold $1 billion in debt market. The local currency has gained 0.15% so far in 2019.

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  • Nirav Modi living in ₹72-cr flat in London, has new business: Report

    Nirav Modi living in ₹72-cr flat in London, has new business: Report
    Published Date : 09-Mar-2019 12:53:55IST

    Fugitive diamantaire and PNB scam accused Nirav Modi is living in ₹72-crore apartment in London’s West End, British newspaper The Telegraph reported. Nirav has started a new diamond business, which was incorporated in May 2018 and is linked to his flat, the report added. The Interpol had issued a Red Corner notice against Nirav on CBI’s request last year.

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  • Government to launch ₹5,000-crore fund for software startups

    Government to launch ₹5,000-crore fund for software startups
    Published Date : 02-Mar-2019 8:42:17IST

    The Cabinet on Thursday approved the launch of a ₹5,000-crore fund to invest in homegrown software products startups. Union IT minister Ravi Shankar Prasad said one-fifth of the fund will come from the government, while the rest will come from the industry. The government aims to generate direct and indirect employment for nearly 65 lakh individuals by 2025.

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  • Flipkart facing $800,000 lawsuit over Upstream buy

    Flipkart facing $800,000 lawsuit over Upstream buy
    Published Date : 27-Feb-2019 4:54:47IST

    US-based corporate finance consulting firm, Wolet Capital Corporation (WCC), has reportedly sued Flipkart and parent Walmart for $800,000, alleging the e-commerce major failed to pay for advisory services for the acquisition of Israel-based Upstream Commerce. The lawsuit further alleged when the deal was announced last September, Avendus Capital was titled as the advisor, with no mention of WCC.

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  • Sachin Bansal invests ₹650 crore in Ola

    Sachin Bansal invests ₹650 crore in Ola
    Published Date : 19-Feb-2019 4:28:11IST

    Flipkart Co-founder Sachin Bansal has invested ₹650 crore in Ola as part of its Series J funding round. “I’ve known Bhavish Aggarwal (Ola’s Co-founder) as an entrepreneur and a friend over these years and have great respect for what he and his team have built in 8 years,” said Bansal. Notably, it’s the largest individual investment in Ola till date.

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  • Kellogg’s looking to buy Haldiram’s, values it over $3 bn: Report

    Kellogg’s looking to buy Haldiram’s, values it over $3 bn: Report
    Published Date : 16-Feb-2019 1:01:37IST

    World’s leading cereal company Kellogg’s is reportedly seeking a 51% controlling stake in the Delhi and Nagpur arms of Haldiram’s, valuing the businesses over $3 billion (excluding restaurants). Founded by Ganga Bishan Agrawal, the bhujia maker started from a single Bikaner shop in 1937 and became India’s largest snack maker in 2017.

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  • Nirav Modi, a Changed Man!

    Nirav Modi, a Changed Man!
    Published Date : 30-Jan-2019 11:40:44IST

    The whisper in the corridors of the CBI and ED is that Nirav Modi is a changed man. Don’t wonder much, he has just changed his looks. The diamantaire, who is all set to be declared a fugitive offender, was allegedly last spotted in Manchester with a fullgrown beard. The reason for the new look is to evade not just the snooping cops but also the nosy NRIs. As for the beard, while hipsters may have made it cool; it’s the fugitives who know to use it as a tool.

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  • FIR against Flipkart Co-founder, CEO for ‘cheating’ laptop buyer

    FIR against Flipkart Co-founder, CEO for ‘cheating’ laptop buyer
    Published Date : 28-Jan-2019 3:30:42IST

    Police have registered an FIR against Flipkart Co-founder Sachin Bansal and CEO Kalyan Krishnamurthy for cheating, criminal breach of trust and forgery on a Ghaziabad-based lawyer’s complaint. He alleged that Flipkart sold him a laptop having features different from what was mentioned at the time of sale. He claimed Flipkart initially agreed to replace the product but didn’t replace it.

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  • IT returns to be processed in one day from current 63 days

    IT returns to be processed in one day from current 63 days
    Published Date : 17-Jan-2019 11:33:22IST

    Infosys will develop the next-generation income tax filing system, which will reduce the processing time for returns to one day from the current average of 63 days, the government said. The project, costing over ₹4,200 crore, will be completed in 18 months. Its objectives include faster and accurate outcomes for taxpayers and enhancing user experience at all stages, among others.

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  • Apple spends $150 million a year on United Airlines tickets

    Apple spends $150 million a year on United Airlines tickets
    Published Date : 16-Jan-2019 9:31:56IST

    A leaked internal United Airlines promotional sign on Twitter has revealed that Apple spends $150 million per year on airfare with the airline and books 50 seats daily on flights to China. Apple is followed by Facebook and Google who spend over $34 million on airfare with United Airlines. “This is confidential…Please don’t share outside of United,” the sign said.

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  • Flipkart Co-founder Sachin Bansal invests ₹150 crore in Ola

    Flipkart Co-founder Sachin Bansal invests ₹150 crore in Ola
    Published Date : 14-Jan-2019 4:09:48IST

    Flipkart Co-founder Sachin Bansal has invested nearly ₹150 crore ($21 million) in ride-hailing startup Ola in Series J funding round. He was issued 70,588 Series J preference shares at ₹21,250 per share, as per documents filed with the Registrar of Companies. Reports claimed Bansal has finalised an investment of up to $100 million in Ola, his largest personal investment.

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  • WhatsApp Co-founder to sell 10 Porsches, doesn’t have time to drive

    WhatsApp Co-founder to sell 10 Porsches, doesn’t have time to drive
    Published Date : 13-Jan-2019 11:59:14IST

    WhatsApp Co-founder Jan Koum is selling his 10 Porsche cars at a US auction on March 8 this year. “If I had unlimited time and unlimited garage space, I would never sell any of them,” said Koum. The cars include a trio of yellow Carrera RS models and a 2015 Porsche 918 Spyder Weissach which has covered only 32 kilometres.

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  • Jeff Bezos’ affair with married TV host led to divorce: Reports

    Jeff Bezos’ affair with married TV host led to divorce: Reports
    Published Date : 10-Jan-2019 4:58:08IST

    World’s richest man Jeff Bezos, who announced he and his wife MacKenzie were getting divorced, is reportedly dating TV host Lauren Sanchez. A helicopter pilot, Sanchez is married to Hollywood agent Patrick Whitesell, though they are reportedly separated. Reports said Bezos, who began seeing Sanchez only after separating from Mackenzie, announced the divorce to make his affair with Sanchez public.

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  • Technology won’t kill but create jobs: Narayana Murthy

    Technology won’t kill but create jobs: Narayana Murthy
    Published Date : 07-Jan-2019 11:06:11IST

    Infosys Co-founder Narayana Murthy has said that technologies like AI won’t render people jobless in future but create more opportunities. Giving the example of the UK, the US and Japan, he said, “[T]hose countries that absorb technology more enthusiastically, have reduced their unemployment much more than those which didn’t”. AI is an important topical area of computer sciences, he added.

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