JuicyFields, a pyramid scheme for cannabis investment that guaranteed its clients returns of up to 66% in just three months, froze cash withdrawals, removed their profiles from social media networks and those responsible disappeared without a trace, reported elDiario.es. “The project has proven to be a textbook pyramid scheme, but this time with the attractiveness … Read more
After finding out that the Chinese products are produced with forced labour, the US imposed a ban on Xinjiang imports, which hit China’s supply chain. In 2021, the Uyghur Forced Labour Prevention Act (UFLPA) was signed into law, under which the US government assumes that anything made even partially, in the Chinese manufacturing hub of … Read more
In a move to bring a higher degree of transparency, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued instructions making it mandatory for developers to share updates on ongoing projects online on a quarterly and yearly basis besides other requirements. This move is expected to help homebuyers to track the progress of their real … Read more
Lawyers for Elon Musk have notified the US Securities Exchange Commission that the Tesla and SpaceX CEO is moving to terminate the deal to acquire Twitter, and accusing the social media company of being “in material breach of multiple provisions” of the merger agreement. Shares of Twitter fell roughly 6% following the news, while shares … Read more
Macquarie Group, one of the largest foreign infrastructure investors in India, is in talks with commercial investors to raise $205 million to set up an electric vehicle (EV) leasing and finance company, said two people aware of the development. The India-focused e-mobility financing platform will be managed by Macquarie Asset Management, which has assets of … Read more
India’s most valuable startup Byju’s has just gotten bigger, with the online education platform doubling its revenue to nearly ₹10,000 crore in FY22. Based on the latest revenue figures, Byju’s is valuing itself at $22.6 billion, almost $6 billion more than its October valuation. View Full Image Self evaluation The higher revenue and valuation are … Read more
The Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in bills. It will be completely up to the customers to pay any amount as tip and eateries cannot directly or indirectly levy any charge more than the rate of food items. “Hotels, restaurants can’t … Read more
Chinese automaker Great Wall Motor has been planning to enter the Indian market since 2020 but now becomes one of the biggest casualties of New Delhi’s increased scrutiny of investments from Beijing. China’s Great Wall Motor has shelved plans to invest $1 billion in India and laid off all employees at its operations after failing … Read more
Terming cryptocurrencies a “clear danger”, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday said anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name. “While technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial … Read more