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Business And Startup News

Facebook in talks to acquire 10% Stake in JIO in 'multi-billion dollars' deal: Report

Due to coronavirus outbreak, Finacial Times reported on Tuesday, adding that the deal size was in "multi-billion dollars". Analysis at Bernstein value Jio at more than $60 billion. India's richest person Mukesh Ambani has poured over $25 billion into Reliance Jio over the years.

Sensex, Nifty post biggest one-day gain in 11 yrs on first day of 21-day lockdown

While the sensex surged over 1,800 points to close at 28,535.78,Nifty regained the 8,300 level. Reliance Industries, HDFC Bank and Kotak Bank stocks witnessed a surge.

MakeMy Trip top executives to draw 'Zero salary' amid corronavirus

Group Executive Chairman of MakeMy Trip, Deep Kalra, and Group CEO Rajesh Magow, have decided to draw 'zero salary'from April amid coronavirus pandemic. The rest of the leadership team have offered to take a reduction of around 50% in their compensation, Kalra and Magow told employees. The company is planning to undertake multiple measure to keep expenses at a minimum.

Flipkart and Amazon temporarily suspends it's services amid coronavirus lockdown

The company announced the news in a message on its e-retails website and within its app. Apart from the announcedment. the wedsite also give information about the advisory issued by the Government of India regarding coronavirus.

Govt staff donates ₹48 cr, Microsoft CEO satya Nadella's wife ₹2 cr to T'gana govt 

The efforts to stop coronavirus spread and for the supply of essential commodities to the needy. Anupama's fathers sri KR Venugopal, IAS (Retd), handed over the cheque to CM K chandrashekar Rao.

Cost of India's lockdown estimated at about $ 120 billion : Experts

Due to coronavirus pandemic has been estimated at about $120 billion or 4% of GDP, some analysts said. Barclays pegged the cost of three-week nationwide lockdown alone to be at $90 billion. It has revised its FY21,growth forecast down to 3.5%,adding that RBI may cut interst rates further by 1% this year.

Hero Cycles sets aside ₹100 cr contingency fund to deal with COVID - 19

Munjal is also monitoring the eeconomic consequences of coronavirus through emergancy monitoring cell created by Hero. The company had orderd work from home for all employees across every department until furher notice.

Iphone makers suspend production in India due to 21-day lockdown :Report

Foxconn has suspended its operations till April 14 and intebds to resume production based on further government accouncement A Wistron representstive said the company is also adhering to the odrer.

SoftBank to lead $300M-investment in Didi's self-driving unit:Report

Softbank announced on Manday it would self $41 billion in assets to help reduce its debt and fund a share buyback. Following the accouncement. Softbank's shares jumped 20% on Tuesday.

RBI permits banks to allow 3-month moratorium on EMIs of all term loans 

A three-month moratorium on the repayment of instalments for term loans outstanding as a March 1,2020. They will also be permitted to allow deferment of three months on interst payment on working capital facilites, Das added the measures won't result in asset classification downgrade.

Police shut down kitchens even though food delivery is allowed InnerChef CEO

Foodstartup Innerchef's Co-founder and CEO Rajesh sawhney has claimed that police came and shut down the startup's kitchens even though food delivery is allowed. "it has happened in Delhi, Noida, Hyderabad', and Bengaluru too staff is finding it extremly difficult to report to work as well,"he tweeted."Many cooks have run away to villages,"he added.

Govt allows doorstep delivery of medicines during coronavirus lockdown

Medicines can be delivered by those holding a license in Form-20 or From-21 under Drugs and Cosmetics Rules, 1945. This rule includes drugs specified in Schedule H(perscriptio drugs) except narcotics, Psychotropics and contolled substances.

Chinese students are paying ₹15 lack for Seats on private jets to escape US

US-based Air Charter Service said it will fly passengres from US to China through its 14-seat Bombardier 6000 for $325,300 or about $23,000 for a spot. US has reported nearly 55,000 coronavirus cases and over 780 deaths.

HEADLINES

Stock markets being monitored thrice a day : Nirmala Sitharaman

Uber asks US govt to include drivers in coronavirus stimulus package

Reliance Industies to pay twice a month to employees who earn below ₹30,000

Cost of India's lockdown estimated at about $120 billion: Experts

Amazon workers in 6US warehouses test positive for COVID-19

Trump says Ford, GM, Elon Musk's Tesla given permission to make ventilators

Musk tweets on COVID-19 mortality vectors, user asks 'Wasn't the panic dumb?'

BigBasket supends operations today, says will be back soon

Doctors wear smart ring to see if it can help detect COVID-19 early

Udaan receives ₹215 cr from Singapore-based parent firm

German electric air taxi startup Lilium raises $240 million funding

Govt announces ₹50L per person insurance for healthcare workers for 3 months

Stock shortage may happen if supply issues not resolved : Britannia

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