The Bengaluru-based company now offers direct investments in mutual funds, stocks, initial public offerings, digital gold, and exchange traded funds. It is backed by fintech investor Ribbit Capital, YC Continuity Fund, and Propel Ventures, apart from Tiger Global and Sequoia. The company has raised more than $142 million from investors, of which $113 million came … Read more
As many as 354 Crisil-rated companies, predominantly pharmaceutical firms and hospitals, with an aggregate bank exposure of Rs 40,000 crore will be eligible for Covid loans from lenders under RBI’s liquidity facility. Though pharmaceutical firms account for 68 per cent of rated bank exposure, hospitals (about 24 per cent of rated exposure) are likely … Read more
International Financial Service Centre (IFSC), a global special economic zone at GIFT City Gujarat, has seen a record surge in the number of corporates eager to do business in the region that offers competitive incentives. It has added as much as 37 business units since October in several segments covering the capital market which includes … Read more
The Department of Telecom on Tuesday approved applications of telecom companies — Reliance Jio, Bharti Airtel, Vodafone and MTNL — for conducting 5G trials but none of them will be using technologies of Chinese entities. The list of telecom gear makers approved for trials include Ericsson, Nokia, Samsung, C-DOT and Reliance Jio’s indigenously developed technologies. … Read more
AOL and Yahoo are being sold again, this time to a private equity firm. Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management in a $5 billion deal. Verizon said Monday that it will keep a 10 per cent stake in the new company, which will be called … Read more
“It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their pocket and they’re paying higher prices,” he said. Buffett attributed the faster-than-expected recovery to swift and decisive rescue measures by the Federal Reserve and U.S. … Read more
Though autonomous-vehicle companies are moving slowly toward making their technology available to the public, the industry’s top tier is steadily becoming entrenched, according to two analysts from the research and consulting firm Guidehouse Insights. Each year, Guidehouse ranks some of the biggest names working on automated-driving technology, evaluating each on criteria including technology, strategy, and … Read more
Warren Buffett criticized SPACs and Robinhood at Berkshire Hathaway’s annual meeting. The investor said they encourage gambling and treating the stock market like a casino. Charlie Munger, Buffett’s right-hand man, damned both trends as well. See more stories on Insider’s business page. Warren Buffett blasted special-purpose acquisition companies (SPACs) and the Robinhood trading app for … Read more
American depositary shares of Vaccitech fell nearly 20% in their Nasdaq debut on Friday, giving the co-inventor of the Covid-19 vaccine developed by AstraZeneca Plc and Oxford University a market value of about $464 million. The biotech firm’s shares opened at $13.62, below the initial public offering (IPO) price of $17 apiece for 6.5 million … Read more