SoftBank's latest round of funding in Paytm will take place on the condition that the company would go public within five years from the time of funding, The Economic Times reported.Sources told the paper that SoftBank Vision Fund (SVF) will reserve the right to sell its stake in Paytm to a rival company if the IPO does not take place within the stipulated time period.Moneycontrol could not independently verify the report.Close This development comes in the wake of the latest botched-up IPO plan of WeWork, which amounted to a loss of around $4.6 billion for SoftBank, the report said. related news RPower Q2 net profit down 69% to Rs 45 cr CBDT mops up Rs 6 lakh cr in direct tax collection so far MOIL Q2 net profit falls to Rs 88.61 crore Another source quoted in the report said that SoftBank has been taking more time in funding new ventures as they are carrying out greater due diligence.The latest round of funding, worth nearly $1 billion, might also see US asset manager T … [Read more...] about SoftBank’s latest investment in Paytm to come with a key caveat: Report
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Millions of Americans are watching the impeachment hearings—and not doing their work. advertisement That’s costing businesses $2.1 billion per hour, according to an estimate by the outplacement firm Challenger, Gray & Christmas. The U.S. House of Representatives’ impeachment inquiry began yesterday morning and people are following the developments—whether minute-by-minute or sporadic recaps—in any number of ways, including smartphones, social media, podcasts, and TV. And all that time dedicated to what’s happening on the Hill means it’s not being spent on the jobs they’re paid to do. To a degree, the loss of productivity is to be expected, as a historic event unfolds in Washington, D.C. Challenger, Gray & Christmas reported a similar dip during Christine Blasey Ford’s testimony at now-U.S. Supreme Court Justice Brett Kavanaugh’s confirmation hearing. One key difference: The impeachment inquiry will last much … [Read more...] about The impeachment hearings are costing American businesses $2.1B an hour in lost productivity
Walmart took a non-cash impairment charge of $290 million for the value of the 'Jabong' trade name in the third quarter, even as the US retail giant continues to bet on the "significant opportunity for growth" presented by the Indian market.The Bentonville-based company logged 2.5 percent rise in revenue at $128 billion for the third quarter, even as its operating income fell by 5.4 percent to $4.7 billion.Its net sales from international operations grew 1.3 percent to $29.2 billion in the said quarter.Close "Excluding the impairment charge related to Jabong, third quarter international operating income was better than plan, but declined 16 percent year-over-year in constant currency and 21 percent on a reported basis due primarily to the expected dilution from Flipkart as well as the overall gross margin..." Walmart Inc EVP and CFO Brett Biggs said in a statement. related news SAIL logs Rs 343 cr loss in Q2 India's PC market grew 15.8% to 3.1 million units in Q3: IDC … [Read more...] about Walmart logs $290 mn impairment for Jabong, sees strong growth from Flipkart, PhonePe
Part 29 of the Moneycontrol Classroom goes into the very basics of what is an index and the purpose that it serves.I keep reading about the movements of the Sensex and the Nifty. What are they?The Sensex or the Nifty are a sort of a virtual portfolio of the country’s largest stocks that has been created by the BSE and NSE, respectively. The Sensex has 30 and the Nifty 50 stocks. Even within that list, greater weightage is given to the larger stocks.Close Even though the Sensex and Nifty contain a small number of stocks compared to the 2,000 (NSE) or 5,000 odd (BSE) companies listed on the exchange, the companies in the index account for a majority of the entire market’s value. It is for this reason that the performance of the Sensex or the Nifty is often loosely considered to be the performance of the market (even though that characterisation is not always accurate, as we will learn). related news Technical View: Nifty forms hammer pattern, 11,839 crucial for … [Read more...] about Classroom | Understanding the role of an index in the market — and what it means for an investor (Part 29)
A man walks into a pizza shop with an assault rifle, fires it, and points it at an employee. This isn’t the start of a joke. It’s what happened in Washington, D.C., in early December. A scruffy young conspiracy theorist had come to Comet Ping Pong Pizza brandishing and firing a gun in search of a purported child sex trafficking ring tied to prominent liberal politicians supposedly run out of one of its backrooms. advertisement advertisement It’s not clear who gave birth to “pizzagate,” which cropped up shortly after WikiLeaks released John Podesta’s hacked emails. But much of the theory’s fleshing out happened on the social news aggregation site Reddit through a group of pseudonymous Donald Trump supporters on one of the many subreddits where conspiracy theories and far worse things sometimes flourish. When CEO Steve Huffman eventually banned r/pizzagate from the site in an effort to prevent online … [Read more...] about Will Reddit Ever Grow Up?