The handsome 25 per cent rise in corporate profits in the September quarter amid a sharp contraction in GDP was on the back of wage squeezes, leading to rise in inequalities in India, economist Nouriel Roubini said on Thursday. This rising inequality is “dangerous” politically and socially because only a few people in the economy … Read more
“Vedanta has emerged as a preferred bidder for the company,” an executive aware of the matter said. The Vedanta group was engaged in protracted negotiations with a State Bank of India-led group of lenders after submitting its first offer. It later bettered the bid in the last week of November, according to executives aware of … Read more
Gautam Adani has a knack for surviving crisis. He was held for ransom more than two decades ago and in 2008 was among the hostages of Mumbai’s Taj Mahal Palace hotel during the terror attacks that killed more than 160 people. Since then, his business acumen and ability to overcome obstacles have propelled him to … Read more
Amazon CEO Jeff Bezos is now more fully involved in the daily operations of the company, after having spent the past few years almost exclusively focused on long-term projects. Bezos has said he prefers working 2 to 3 years into the future, and he rarely gets pulled into the daily oversight of the company — … Read more
Investors have shifted into cyclical assets lately as COVID-19 vaccines are on the way and the economy gets set to recover. But Morgan Stanley’s Mike Wilson is warning that valuations are getting too high, and that a near-term pullback may in the cards. He laid out four strategies to still find returns in cyclicals. Visit … Read more
For billions of people around the world, Microsoft Office and Google Docs are the default apps for writing documents. But they are ready to be challenged as people working from home reach for better tools for collaboration, believes Shishir Mehrotra, founder and CEO of Coda. Mehrotra worked for both Google and Microsoft before starting Coda, … Read more
Fantasy sports are not like any other form of online gaming as it is dependent on actualities, seasonality and availability of real-time sports matches, which makes it a non-addictive form of play. Government think tank Niti Aayog has pitched for setting up a single self-regulatory organisation for the online fantasy sports industry to be governed … Read more
In Gurugram and plans to launch more such projects as demand for premium residential properties has revived in last few months. The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others. “Recently we launched 88 residences in form of premium independent floors (at a price point … Read more
Mark Cuban and Chamath Palihapitiya are challenging Warren Buffett in the car-insurance market. The “Shark Tank” star and Social Capital chief are part of a group investing $160 million into Metromile, which offers pay-per-mile insurance and personalized pricing to drivers. Buffett’s Berkshire Hathaway owns Geico, one of the biggest US auto insurers and a key … Read more