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Tycoon loses $3 billion as India’s mobile war weighs on wealth

By PR Sanjai

The financial distress at Vodafone Group Plc’s Indian venture has dragged down the wealth of Kumar Mangalam Birla, whose group is the second-largest investor in the teetering wireless carrier.A majority of his fortune is derived from his ownership of Aditya Birla Group, a conglomerate that controls his main holdings.

MBK Partners Seeks Up to $6.5 Billion for Fifth Fund

To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.20, 2019 4:33 pm ET







MBK Partners, a buyout firm led by a former Asia deal maker for Carlyle Group LP, is aiming to raise its largest fund ever.

The SoftBank Effect: How $100 Billion Left Workers in a Hole

ImageSunil Solankey, who runs the Four Sight Hotel in a New Delhi suburb, began working with Oyo last year.me — faced 32 strikes last year, according to data gathered for The Times by the China Labour Bulletin.

Amazon appeals $10-billion Pentagon contract won by Microsoft

Meanwhile, US defence secretary Mark Esper said on Friday the Pentagon awarded the contract to Microsoft after a fair competition.“I am confident it was conducted freely and fairly without any type of outside influence,” Esper told a news confere.

Tech-Focused Alpine Investors Raises Largest Fund Yet at $1 Billion

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San Francisco-based midmarket firm, known for its approach to talent management, attracted new investors from Europe and Asia with its latest fund





















Updated Nov.

WeWork Lost $1.25 Billion in Third Quarter

25 Billion in Third QuarterThe co-working company’s losses increased sharply as it expanded ahead of a failed initial public offering.The company said it lost more than $1 billion in the third quarter as it expanded rapidly around the world.

Unsure Motown shelves $3 billion capex plans

Tata Motors and Ashok Leyland, the country’s top manufacturers of commercial vehicles, have scaled back capex plans for FY20 by Rs 500 crore each.Mahindra & Mahindra has cut investment plans by Rs 250-300 crore so far in FY20.

‘Give away $60 billion’ to foreign companies? The ‘America First’ Trump administration faces a tricky 5G choice

The Louisiana lawmaker has stressed that the C-Band Alliance’s membership consists of two Luxembourg-based companies, Intelsat












I, -3.Much of the C-Band Alliance’s auction plan is “deeply concerning,” said Doyle at a Capitol Hill hearing on the spectrum sale last month.

Warren Would Take Billionaires Down a Few Billion Pegs

Elizabeth Warren’s tax proposals would significantly curb the gigantic fortunes of America’s richest families over time.10, 2019“Yes, billionaires will have to pay a little more,” Senator Elizabeth Warren said of the revised tax package she introduced recently, “six cents on each dollar.

Zillow Says Home-Flipping Will Pull In $1 Billion, Sending Shares Higher

A Zillow employee evaluates a home for possible purchase under the company’s Zillow Offers home-flipping business in Lauderhill, Fla.33%


rose 9% in after-hours trading as the company said its home-flipping business is expected to generate as much as $1.

VC Daily: SoftBank’s ’Really Bad’ Judgment; AstraZeneca’s $1 Billion China Plans; Jim Lanzone Joins Benchmark; Coveo Adds $227 Million

To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.The venture industry has focused on enterprise software startups this year, with numerous big exits and large funding rounds.

SoftBank Takes a $4.6 Billion Hit From WeWork. Its C.E.O. Remains Defiant.

Masayoshi Son defended the Japanese company’s investment, while admitting he misjudged the American firm’s founder, Adam Neumann.6 billion hit from its investment in WeWork, the troubled office-space company that has come to symbolize the excesses of start-up culture.

Coal India advances target for one billion tonnes production by two years to 2024

It was earlier planning to achieve annual production capacity target of one billion tonnes by 2019-20.09 PM ISTAgenciesMinister of Coal & Mines, Pralhad Joshi on Friday said state-run Coal India will produce one billion tonnes coal by 2023-24 and the company has to produce 750 million tonnes in the next fiscal.

North American family office eyes Yes Bank stake, plans to buy more than a third for $1.2 billion

A North American family office is interested in picking up more than a third of Yes’s shareholding.(This story originally appeared in on Nov 02, 2019)MUMBAI: The global investor which has submitted a binding bid to invest $1.

Google to Buy Fitbit for $2.1 Billion

The deal represents an aggressive attempt by Google to bolster its lineup of hardware products.In a statement on Friday, Fitbit said Google was paying $7.

Unified payments interface: UPI hits 1 billion transactions in October, plans to go global

MUMBAI: Transactions using India’s own domestic payments platform—Unified Payments Interface (UPI)—hit a landmark of one billion in October, three years after its launch.The UPI also recently crossed 100 million users, making it the fastest adoption of any payments system anywhere in the world.

Microsoft Wins Pentagon’s $10 Billion JEDI Contract, Thwarting Amazon

The contract has an outsize importance because it is central to the Pentagon’s efforts to modernize its technology.Price Floyd, a former head of public affairs at the Pentagon who consulted briefly for Amazon, said he thought Mr.

David Malpass: World Bank to continue with USD 6 billion annual lending support to India

As many as 97 projects are being currently executed with loan assistance from the World Bank.48 PM ISTAFPThe visiting head of the World Bank earlier in the day met Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.

WeWork’s Lifeline Could Wipe $39 Billion Off Its Valuation

5 billion investment that was planned for next year, and buying $3 billion worth of shares held by other investors, according to unnamed sources.It would also lend the company $5 billion.

India US Energy trade: Indo-US energy trade to touch $10 billion in FY20: Dharmendra Pradhan

The Minister said supplies from the US had helped control a likely price rise in India after supply shortage concerns gripped the market in the aftermath of the attacks on a Saudi Aramco's facility.29 PM ISTAgenciesLast year, the bilateral energy trade valuation stood at $7 billion.