Messaging giant WhatsApp has updated its privacy policy and terms of service to better integrate with other products and services offered by its parent company Facebook. The most prominent changes deal with how WhatsApp shares information with Facebook and its subsidiaries. The instant messaging app can now share phone numbers and transaction data with Facebook. … Read more
Udaan, the business-to-business (B2B) e-commerce platform, has kick-started the new year with a fund-raise of $280 million, largely from its existing investors including China’s internet giant Tencent. Venture funds Lightspeed Venture Partners, DST Global, GGV Capital and Altimeter Capital are existing investors who have also contributed to this round. There are two new investors — … Read more
Investing in blockchain technology has become hot due to its role as the database for cryptocurrencies and digital transactions. You can invest in blockchain technology via stocks of companies that offer cryptocurrency-related services or are developing other industrial applications for it. Despite its growth potential, blockchain technology should be seen as a high-risk investment. ETFs … Read more
“We believe that the valuation and position backdrop has become a lot more challenging for bitcoin at the beginning of the New Year,” JPMorgan said. At its current market cap of $575 billion, bitcoin would have to surge to $146,000 to match the total private sector investment in gold via ETFs or bars and coins, … Read more
The cratering economy at the start of the pandemic led to a dropoff in funding rounds for seed-stage companies, according to deals databases PitchBook, Crunchbase, and CBInsights. But anecdotally, early-stage investors say they can barely keep up with their deal flow. One reason for the discrepancy is that startups are calling their seed rounds by … Read more
Indian automakers replenished stocks before the new year, helping wholesale auto sales witness healthy growth. Inventory was lower than usual for passenger vehicles and tractors, leaving headroom for higher inventory filling in the coming months, industry executives said. They said spillover demand from the festive season and inventory refilling would drive demand for passenger vehicles … Read more
The Comptroller and Auditor General of India (CAG) has written to the finance ministry seeking details about the ongoing performance audit of government’s massive recapitalisation excercise of public sector banks (PSBs). CAG is doing performance audit on recapitalisation of PSBs after 2016-17 and it has written a letter to the Department of Financial Services, Ministry … Read more
“If the public sector will not take ‘personal responsibility’ for providing an adequate safety net for those in distress, private philanthropy must do so.” That’s the charitable mandate George Kaiser – one of America’s most generous (and most obscure) billionaires – shared with Insider. He’s a staunch advocate of the ultrawealthy giving back, not just … Read more
In an unprecedented move, the Mumbai bench of the income tax appellate tribunal (ITAT) has retracted the critical remarks it made on Cyrus Mistry in its recent order that restored the tax-exempt status of the three key Tata Trusts. In a major moral victory for the past chairman of Tata Group who was unceremoniously sacked … Read more