Business

Google Play Store Approves Truth Social by Donald Trump
Business, United States

Google Play Store Approves Truth Social by Donald Trump

On Wednesday, a Google (NASDAQ: GOOGL) spokeswoman confirmed that Alphabet, Inc. had approved the social networking program Truth Social created by former US President Donald Trump on Google Play Store. Truth Social, run by Trump Media & Technology Group (TMTG), is reportedly coming to the Play Store soon, according to Google. Chief Executive Officer Devin Nunes of TMTG said, " It's been a pleasure to work with Google, and we're glad they helped us finally bring Truth Social to all Americans, regardless of their device. In February, Truth Social was released in the Apple App Store in the United States. However, according to a Google spokeswoman in August, the app was previously unavailable in the Play Store owing to inadequate content moderation. Google had informed Truth Soc...
Google to Invest $690 Million in Japan, Informs Sundar Pichai
Business, MEA & Japan

Google to Invest $690 Million in Japan, Informs Sundar Pichai

Google set up its first overseas office in Japan in 2001, and ever since, Google has been actively working on the front to expand its far east market. Now on October 7, 2002, the CEO of Google, Sundar Pichai, announced that Google further plans to invest $690 Million in Japan through 2024 to capitalize on the expansion in the Asia-Pacific region despite macroeconomic uncertainty. Pichai announced the commitment in an exclusive interview with Nikkei and TV Tokyo in Tokyo, saying that Google will invest a total of 100 billion yen beginning this year and continuing for [the] three years until 2024. The corporation plans to use the funds to construct its first data center in Japan, invest in submarine cables, and train new employees. The facility is scheduled to go live in 2023, ...
Elon Musk Needs $13B in Debt Financing to Acquire Twitter
Business, United States

Elon Musk Needs $13B in Debt Financing to Acquire Twitter

Yes, the world's richest man, Elon Musk, needs $13B in debt financing to acquire Twitter (NYSE: TWTR). In the $44B takeover of Twitter Inc that got dismissed, leading to Twitter taking Musk to court, the case has opened as an expression of Musk's renewed interest in acquiring Twitter. Musk's offer is now contingent on receiving $13 billion in debt financing. Musk's attorneys told the SEC in a letter dated October 3, 2022, that their client was still open to the initial $54.20 per share arrangement "pending receipt of the cash of the debt financing." This was not a provision of the original agreement. Musk is now in talks with Twitter to iron out the last details of the agreement he proposed in April but later backed out of. When all questions are answered, the two sides will file...
Worrying Decline in the Health of Cybersecurity Enterprise IronNet
Business

Worrying Decline in the Health of Cybersecurity Enterprise IronNet

But is everything okay? Why do we see a worrying decline in the health of Cybersecurity Enterprise IronNet? The cybersecurity company IronNet (NYSE: IRNT) began trading on the NYSE on August 27, 2021. August 27, 2021. Thanks to IronNet's founder and co-CEO, Gen. Keith Alexander, a retired four-star general who previously led the National Security Agency (NSA), the Central Security Service (CSS), and the U.S. Cyber Command; the company grabbed a lot of attention, leading to a SPAC (special purpose acquisition company) merge. IronNet's shares debuted at $13.44 after the merger, soared to a record high of $41.40 in September of last year, and currently trade for just above $1. Let's examine five blatant red signs to comprehend why IronNet's stock plummeted. Misrepresentation of Ca...
ED Freezes Funds in Chinese Loan Apps; Raids PayTm & Others
Business, India

ED Freezes Funds in Chinese Loan Apps; Raids PayTm & Others

The Enforcement Directorate freezes cash totaling INR 46.67 crore stored in payment gateways like Paytm, Easebuzz, Razorpay, and Cashfree as part of a crackdown on loan apps and investment tokens controlled by the Chinese government. The Enforcement Directorate (ED) conducted searches against Chinese-controlled loan apps and investment tokens on September 14 in Delhi, Mumbai, Ghaziabad, Lucknow, and Gaya, all under the Prevention of Money Laundering Act (PMLA). The Indian federal investigative agency also raided 16 premises of banks and payment gateways in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur and Bengaluru in search of HPZ app-based token as per a money laundering case reported from an October 2021 FIR filed by the cybercrime unit of Kohima Police in...
Category-I Banks to Follow Cross-Border Bill Payments per RBI
Business, India

Category-I Banks to Follow Cross-Border Bill Payments per RBI

On September 15, 2022, The Reserve Bank of India (RBI) instructed all Category-I authorized banks to implement the new Bharat Bill Payment System (BBPS) for cross-border bill payments. On August 31, 2016, RBI began piloting the BBPS service, and on October 17, 2017, the service went live for the general public. Transactions initiated through the Bharat Bill Payment System (BBPS) are cleared and settled by the National Payments Corporation of India (NPCI), the legally designated body for the Bharat Bill Payment Central Unit (BBPCU). Data from the NPCI shows that in August 2022, BBPS handled 87.46 million transactions worth roughly Rs 16,000 crore. When BBPS opened its doors in August 2021, it could handle 58.88M transactions worth roughly Rs 10,000 crore. Customers who use the ...
MeitY Startup Hub and Meta launches Grant for XR Tech Startups
Business, India

MeitY Startup Hub and Meta launches Grant for XR Tech Startups

MeitY Startup Hub (MSH) of the Ministry of Electronics and Information Technology in India and Meta (NASDAQ: META) have announced a new grant! This grant is the introduction of an accelerator programme to help and accelerate XR technology entrepreneurs in India. The XR startup programme will focus on training and developing technological capabilities for the Metaverse and will assist form the ecosystem for these emerging technologies, such as Augmented Reality (AR) and Virtual Reality (VR), in the country. The Minister of State for Electronics & Information Technology, Rajeev Chandrasekhar, stated that a significant milestone in realizing the Prime Minister's objective of making the next ten years of India's Techade a time of great opportunity for young Indians. The minist...
SoftBank Founder Masayoshi Son Discusses Third Vision Fund
Business

SoftBank Founder Masayoshi Son Discusses Third Vision Fund

According to the latest report by The Wall Street Journal, SoftBank Group Corp. (TYO: 9984) founder Masayoshi Son has decided to set up the third Vision Fund, weeks after apologizing for the disappointing performance of his first two funds. The 65-year-old entrepreneur has just raised billions of dollars in cash and views another startup fund as one of several possible uses for the funds, according to individuals who requested anonymity because the topic is confidential. They stated that it is not yet known how much capital Son might want to invest in a third fund. The first Vision Fund had foreign investors, including Saudi Arabia's Public Investment Fund, but the second contained nearly $40 billion and was funded completely by SoftBank. Son stated that he expected to raise mone...
Nykaa Closes 100% Acquisition of Little Black Book (LBB)
Business, India

Nykaa Closes 100% Acquisition of Little Black Book (LBB)

  In a press release on September 10, 2010, Nykaa stated that all required procedures had been fulfilled, including purchasing all of the equity shares in Iluminar Media Private Limited (Little Black Book). The lifestyle discovery content platform focusing on millennials has been around for ten years and is now acquired in a lucrative deal by Nykaa. Company officials claim that the purchase is consistent with Nykaa's policy of emphasizing content when communicating with its dedicated customer base. As a content powerhouse, LBB stands out due to its vast, discriminating user base, content generation capability, curating approach, and relationship with growing businesses. Nykaa's fashion, home, and beauty strengths align well with these focus areas. The CEO of NykaaMan, Nihir ...
An Overview of Toxic Leadership at Top Global Workplaces
Business

An Overview of Toxic Leadership at Top Global Workplaces

Enterprise leadership communication failure is not a myth perpetuated by disgruntled employees terminated for underperformance or behavioral misconduct. Leadership communication failure is real; no organization is free from this gluten. Some organizations lean on managed servers of reputation management, so they don't stick to public knowledge. Last year in May 2021, an email by the CEO of Shopify, Tobi Lütke, got viral. It was an immediate flight to an incident wherein a senior manager at Byju's miserably abused their sales executive. Of course, the CEO terminated the manager for ramifications, but how does it occur in the first place? A quick study informs us of how big enterprises manifest toxic work culture; how sometimes their CEOs, Human Resources, or tenured employees perpetuate...
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