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Stripe Inc. (Image: Shutterstock) Digital payments firm Stripe has hired Wall Street banks Goldman Sachs and JP Morgan to explore a public listing and alternatives to allow employees to cash out stakes in the private company, two sources familiar with the matter told Reuters. The move, communicated to Stripe employees in an internal memo earlier on Thursday, would give them an opportunity to sell shares in the company either to private investors or in a public market, the sources said. Either possibility would address the problem that some employee share options are coming up for expiry but Stripe shares are not currently listed. The aim is to have one arrangement or the other in place within a year, the sources said, adding that if private sales are arranged the buyers will cover tax costs. A 2021 round of fundraising valued Stripe at $95 billion, but the sources said the company had recently cut its own assessment of its value to $65 billion. Read More … [Read more...] about Stripe hires Goldman, JP Morgan to explore listing and private share sale

Pramod Sawant, re- appointed as Goa CM. Goa Chief Minister Pramod Sawant on Monday said all cities need to identify long-term revenue models based on the infrastructure, which is being created under the Smart Cities Mission. Sawant was addressing the Smart Cities CEOs conference on data and technology, which is currently underway in the state. "In Goa, we have the saying ’Swayampurna Goem’, which is related to the concept of ’atmanirbharta’ (self-reliance)," the chief minister said. There is a need for all cities to identify long-term revenue models based on the infrastructure that is being created under the Smart Cities Mission, he said. This will ensure self-sustainability of all smart cities once the mission has concluded and will help fund future endeavours of the special purpose vehicles (SPVs), Sawant said. The Smart Cities Mission has covered a lot of ground, but smart cities need smart people as well. Universities, students, private and government institutions … [Read more...] about Cities must identify revenue models based on infrastructure created under Smart Cities Mission: Goa CM Sawant

Westlife Development (Image: westlife.co.in) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of  Westlife Foodworld gained over 4% on January 24 intraday after the company announced the appointment of Saurabh Bhudolia as its chief financial officer (CFO) . Saurabh is a chartered accountant (CA) with experience of over 15 years across manufacturing in India, New Zealand, and Singapore (steel, FMCG, beverage, and retail), the company said in a statement to the stock exchanges. Over the years, his areas of expertise have included accounting, budgeting, costing, treasury, taxation, project finance, financial reporting, business partnering, mergers and acquisitions, industrial relations, and funding. To ensure the company's financial success, Saurabh will oversee all aspects of financial management and strategy. His new … [Read more...] about Westlife Foodworld appoints Saurabh Bhudolia as CFO; stock gains

Representative image A top India-centric American business advocacy group, in collaboration with various US government agencies and a prestigious university, has announced an alliance to increase the number of women in STEM education and the workforce in India. The launch of the US-India Alliance for Women's Economic Empowerment STEM Collaborative was announced by Mukesh Aghi, president and CEO of the US-India Strategic and Partnership Forum during the US-India Alliance Shatter Summit. "India and the US tech synergy is well evinced in India being an IT powerhouse and the US having the most robust tech economy. However, there is still a lacuna in the number of male and female STEM graduates," Aghi said. "For India to unleash its full potential, there needs to be a concerted effort to get more young girls and women in STEM (science, technology, engineering and maths)," he said. The US-India Alliance for Women's Economic Empowerment is a public-private partnership between … [Read more...] about Alliance launched to increase number of women in STEM education, workforce in India

An Air India aircraft. As the Tata group completes the first year of taking over Air India, the airline on Friday said it is finalising a historic order of new aircraft while the airline's chief Campbell Wilson highlighted that the carrier's progress has been quite remarkable. Stepping into the second year of Air India 2.0, Wilson, in a message to employees, acknowledged that there will be challenges along the way and emphasised that more than successes, "it is how we respond to our lapses ... that will define us". The airline has put in place a roadmap under Vihaan.AI for transformation over the next five years and has taken various measures, including committing USD 400 million to refurbish the interiors of its entire wide-body fleet. However, in recent weeks, the carrier has faced certain headwinds related to the unruly behaviour of passengers onboard two international flights and has also been penalised by the aviation regulator DGCA. Listing out major initiatives, … [Read more...] about Air India has made ‘quite remarkable progress’: CEO; airline finalising historic aircraft order

An Air India aircraft. Top officials from aircraft manufacturer Boeing, and engine suppliers General Electric Aviation and CFM International will meet officials from Tata Sons and Air India in Mumbai on January 27, sources said. While the first two are American companies, CFM International is a 50:50 Franco-American joint venture between GE Aviation and Safran Aircraft Engines. "There is a closed-door meeting today in Mumbai between Natarajan Chandrasekaran, Campbell Wilson, Stanley Deal, François Planaud, Tom Levin, Salil Gupte, Ahmed Elsherbini, and other top officials from GE and CFM International," an airline official said. Natarajan Chandrasekaran is the Chairman of Tata Sons. Campbell Wilson is the CEO and MD of Air India, and Stanley Deal is the CEO of Boeing Commercial Airplanes. François Planaud is the Executive Vice-President, Support and Services, at Safran Aircraft Engines, and Tom Levin is the Vice-President, After Market Strategic Solutions, at GE … [Read more...] about Boeing, GE, CFM International meeting Air India officials today: Sources

Air India reviewed its inflight alcohol service policy on January 24 and made some adjustments after embarrassing onboard incidents that triggered fines and public anger. As part of the review, the airline said it will adopt the US National Restaurant Association’s traffic light system to tactfully refuse alcohol to passengers if they seem to be at risk of behaving inappropriately. What is the National Restaurant Association’s traffic light system? The National Restaurant Association’s traffic light system asks servers to determine whether a customer needs to be cut off from being served liquor. The system categorises passengers into green, yellow or red stages based on their behaviour, body language, facial cues, and ability to comprehend instructions. Read More COVID-19 Vaccine Frequently Asked Questions View more How does a vaccine work? A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to … [Read more...] about MC Explains | Air India’s new system to identify drunk passengers

The “watch duty time limitations and rest requirements” set forth by the DGCA on January 11 for controllers state that an air traffic controller's shift cannot last longer than 12 hours (Representative Image) The Directorate General of Civil Aviation ( DGCA ) rejected the Airports Authority of India ( AAI ) proposal to provide relaxation for airports with fewer flights in order to enable it to overcome a manpower shortage and instead issued new rules for the duty hours of air traffic controllers, as per a report in The Hindu . Although a version of these rules was initially announced in November 2020, the AAI found it challenging to comply with them because it required more staff to offer the required rest period. Since then, it has requested exemptions five times and suggested various duty hours for four distinct types of airports based on the volume of air traffic they handle: large airports, or those with more than 400 flights per day, as well as airports with up to … [Read more...] about DGCA sets new rules for duty timings of air traffic control employees

FTX Founder and former CEO Sam Bankman-Fried Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Federal prosecutors in Manhattan have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Bankman-Fried was not asked to enter a plea on Thursday. He has previously acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability. His defense lawyer, Mark Cohen, declined to comment after the hearing in Manhattan federal court. After the hearing, the one-time billionaire was surrounded by photographers as he exited the lower Manhattan courthouse and entered a black SUV. He sported facial stubble and a gray suit - a far cry for the shorts and t-shirt he became notorious for wearing in public appearances while running FTX. Nicolas Roos, a prosecutor, told U.S. … [Read more...] about FTX founder Sam Bankman-Fried released on $250 million bond