Ms. Sandberg has led Facebook — now Meta’s — advertising business and was responsible for nurturing it from its infancy Sheryl Sandberg, the No. 2 executive at Facebook owner Meta, is stepping down, according to a post on Wednesday on her Facebook page. Ms. Sandberg has served as chief operating officer at the social media … Read more
Digital health platform MFine has become the lastest venture capital backed startup to lay off its staff due to a lack of funds to pay salaries, two former employees at the firm said. Bengaluru-based MFine, operated by Novocura Tech Health Services Pvt Ltd, has laid off over 50% of its staff, one of the employees … Read more
Shares of Tesla and Twitter have tumbled this week as investors deal with the fallout and potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform. Of the two, Musk’s electric vehicle company has fared worse, with its stock down almost 16% so far this week … Read more
Saudi Aramco on Wednesday dethroned Apple as the world’s most valuable company as surging oil prices drove up shares and tech stocks slumped. The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was valued at $2.42 trillion based on the price of its shares at … Read more
The event was widely anticipated since 2019, when Larsen & Toubro (L&T) had bought a majority stake in Mindtree – termed as India’s first major hostile takeover. Key points to note – L&T currently owns 60.99% of Mindtree and 74.05% of Larsen & Toubro Infotech (LTI) Given the common parent and similar business, the merger … Read more
Elon Musk reached an agreement to buy Twitter for roughly $44 billion on Monday, promising a more lenient touch to policing content on the platform where he promotes his interests, attacks critics and opines on social and economic issues to more than 83 million followers. The outspoken Tesla CEO, who is also the world’s wealthiest … Read more
The purchase isn’t straightforward, but Elon Musk has several financing paths. One option is to sell his Tesla shares outright. Another is borrowing against them to stage a leveraged buyout, possibly with outside partners. Musk, 50, currently has about $3 billion in cash or other somewhat liquid assets after spending $2.6 billion buying a 9.1% … Read more