Brookfield plans offer for majority stake in Suzlon: Reports
Canada-based Brookfield Asset Management is reportedly planning an offer to buy majority stake in debt-laden Suzlon Energy. The investment firm is reportedly in talks with Suzlon’s creditors to restructure its $1.6-billion debt in a one-time settlement plan, asking SBI-led lenders to take a 50% haircut. Reports said Brookfield may offer to buy new shares, followed by shares from existing holders.
Delhi HC bars Amazon, Flipkart from selling Amway products
The Delhi HC has passed an interim order to prevent e-commerce platforms including Amazon, Flipkart and Snapdeal from advertising, displaying or selling Amway products without the brand’s consent. Platforms were accused of violation of the Direct Selling Guidelines, 2016 by offering unauthorised sale. Amazon responded to the claims saying it was only an intermediary and couldn’t be held liable.
Samsung’s VC arm debuts in India, puts $8.5 mn in 4 startups
Samsung Venture Investment Corporation (SVIC), the venture capital arm of South Korean technology giant Samsung, has invested around $8.5 million in total in its maiden investment in the Indian startup ecosystem. SVIC has acquired 20% stake in Mumbai system apps startup Indus OS. It has also backed Bengaluru’s Gnani.ai and Silvan Innovation Labs and an undisclosed computer vision startup.
Indian weightlifters win 7 golds at Commonwealth C’ships on day 2
Indian weightlifters Rakhi Halder and Davinder Kaur won a gold medal each in the senior women’s section on the second day of Commonwealth Championships on Wednesday. Kaur lifted a total of 184kg to win the women’s 59kg gold while Halder clinched the yellow metal in the 64kg category. India also won five other gold medals in junior and youth sections.
PayU India Co-founder & MD Shailaz Nag quits after 8 years: Report
Shailaz Nag, the Co-founder and Managing Director of South African conglomerate Naspers-owned PayU’s India arm has reportedly quit after eight years. The Harvard Business School alumnus is looking out for opportunities in the payments space, the report cited its sources as saying. This comes days after Managing director for PayU India’s LazyPay Jitendra Gupta had also announced his departure.
Federer beats Nishikori to win 100th Wimbledon match, reaches semi
Eight-time champion Roger Federer defeated Kei Nishikori on Wednesday to advance to the semi-finals of Wimbledon for the 13th time. The quarter-final victory was Federer’s 100th at Wimbledon, making him the first player in history to earn 100 victories at Wimbledon. Federer also holds the record for winning most matches in Australian Open (97).
Rafael Nadal to face Roger Federer at Wimbledon after 11 years
World number two Rafael Nadal defeated Sam Querrey 7-5, 6-2, 6-2 on Wednesday to reach his seventh Wimbledon semi-final. With this, Nadal set up his 40th matchup and first at Wimbledon since their 2008 final, with longtime rival Roger Federer. Nadal had beaten Federer in the French Open semi-final last month.
Akshay Kumar only Indian in Forbes Highest-Paid Entertainers List
With $65 million (₹444 crore), Akshay Kumar has become the only Indian to enter Forbes magazine’s Highest-Paid Entertainers List 2019. The magazine wrote that he earns at least $5 million (₹34 crore) and up to $10 million (₹68 crore) per film, along with earnings from endorsements. Akshay, who came 33rd, beat Hollywood actors including Chris Evans and Bradley Cooper.
Kangana Ranaut responds after Journalists’ Guild boycotts her
In videos released by Rangoli Chandel, Kangana Ranaut has responded after Entertainment Journalists’ Guild of India boycotted her over her argument with a reporter. Calling these journalists “deshdrohi” and “saste”, Kangana said they are “on sale for ₹50-₹60”. “I request you with folded hands, please ban me because I don’t want to be a reason behind your earnings,” she added.
SC hearing on Ayodhya land dispute from July 25 if mediation fails
The Supreme Court on Thursday asked the Ayodhya land dispute mediation panel headed by Justice FMI Kalifulla to submit the status report by July 18. The court said that in case the report indicates that mediation should be concluded, it’ll start hearing the appeals from July 25. Sri Sri Ravi Shankar and Sriram Panchu are also part of the panel.
CBI raids SC lawyer Indira Jaising’s home in foreign funding case
The Central Bureau of Investigation on Thursday conducted raids across the residences of Supreme Court advocates Indira Jaising and Anand Grover in Delhi and Mumbai in connection with a foreign funding case. The agency also held raids at offices of Lawyers Collective, an NGO run by Grover, for the alleged violations of the Foreign Contribution (Regulation) Act (FCRA) rules.
Moglix raises $60 million co-led by Tiger Global, Sequoia
Asia-based B2B marketplace for industrial goods Moglix has raised $60 million in its Series D funding round led by Tiger Global Management and Sequoia Capital. The funding round also saw participation from a new investor, Hong Kong-based Composite Capital. Founded in 2015 by former Google executive Rahul Garg, Moglix procures and supplies industrial goods like safety tools and hardware.
Zoomcar raises ₹78 crore from Trifecta Capital, others
Bengaluru-based self-drive car rental startup Zoomcar has raised nearly ₹78 crore in a mix of equity and debt funding from its US-headquartered parent firm and Trifecta Capital among others, Inc42 revealed. The startup has raised nearly ₹12 lakh in debt from Mahindra & Mahindra. Founded in 2012, Zoomcar has raised over $115 million to date, as per Crunchbase.
US man missing for months found to be eaten by his 18 pet dogs
A 57-year-old man, who was reported missing in US’ Texas in May, was completely eaten by his 18 pet dogs at his trailer home, police said. DNA testing determined that pieces of bone and clothes recovered from the dogs’ faeces were of their owner. It’s unclear whether the dogs killed their owner or just consumed his body after he died.
Kidney ‘has a very special place in the heart’: Trump
US President Donald Trump on Wednesday said that “the kidney has a very special place in the heart”. His remarks came as he signed an executive order aimed at improving medical care for people who have kidney-related health issues. Trump also said that his administration would work on encouraging the development of new treatments.
UK says Iran attempted to block its oil tanker in the Gulf
The UK has said that three Iranian boats tried to block one of its oil tankers through the Strait of Hormuz. The Iranians withdrew after a UK warship escorting the tanker aimed its guns and warned the Iranians to move away. This comes after the UK helped Gibraltar seize an Iranian tanker claiming it was carrying oil to Syria illegally.
BSF officer steals bag with ₹15 lakh jewellery at Delhi airport, held
An Assistant Sub-Inspector with the BSF was on Wednesday arrested for allegedly stealing a woman’s handbag containing gold and diamond jewellery worth ₹15 lakh, at the Delhi airport. The woman’s bag was stolen after she kept the bag under the liner chair while waiting for the boarding time. The police reportedly recovered the entire stolen jewellery within 45 minutes.
Rivigo raises $65 mn in Series E round led by Warburg Pincus, SAIF
Gurugram-based logistics startup Rivigo has raised $65 million in its ongoing Series E round led by existing investors Warburg Pincus and SAIF Partners. Prior to this round, Rivigo raised $216.2 million from investors and the last tranche of $35.6 million of Series E round was at around $950-million valuation. Reports said Rivigo raised the funding at over $1-billion valuation.
RBI cancelled licences of 1,701 NBFCs in 2018-19
The RBI cancelled licences of 1,701 non-banking financial companies (NBFCs) in 2018-19 for not meeting minimum capital requirements, according to data compiled by Livemint. Nearly 779 licences were cancelled in October and November 2018, soon after IL&FS defaulted on debt repayments, sparking a crisis in the sector. RBI had cancelled 26 NBFC licences in 2017-18.
11 killed, 60 injured in Pakistan train collision
At least 11 people were killed and over 60 others were injured after a passenger train crashed into a freight train in Pakistan’s Punjab province on Thursday. Five carriages were destroyed and workers cut through the metal of the carriages to rescue the trapped passengers. Pakistan PM Imran Khan blamed decades of neglect of railway infrastructure for the crash.
6 people killed, 100 injured in 20-minute storm in Greece
At least six people were killed and 100 others were injured in a storm that hit northern Greece on Wednesday, officials said. The storm had lasted only for about 20 minutes, as per reports. Hail storms and strong winds of over 100 kmph damaged buildings, overturned cars and uprooted trees in Halkidiki, near the city of Thessaloniki.
Former Miss Iraq may lose her citizenship for defending Israel
Former Miss Iraq Sarah Idan has said that her citizenship may be revoked after she spoke in defence of Israel at the United Nations Human Rights Council. She’d also spoken against the human rights abuses by Iraq. Idan’s family fled Iraq following death threats after she posted a picture of herself with Miss Israel at the 2017 Miss Universe pageant.
60 foreigners staying without valid docs detained in Greater Noida
As many as 60 foreign nationals were detained in Greater Noida on Wednesday for staying in India without valid papers. Some were found staying in India on an expired visa, while others were in possession of forged visa documents. Some of the detained persons are from Nigeria, Kenya, Tanzania, Zambia, Angola, Malawi and the Philippines.
Japan spacecraft lands on asteroid 300 mn km away for 2nd time
Japan’s space agency JAXA has confirmed that its Hayabusa2 spacecraft has successfully landed on asteroid Ryugu about 300 million km away from Earth for second time. The $270-million spacecraft had dropped a 2-kg bomb to create a small crater on the asteroid in April. Hayabusa2 will again fire a bullet at the asteroid to collect sub-surface samples blown by it.
US seizes JPMorgan-owned ship with $1.3 billion worth of cocaine
US customs authorities have seized a large container ship operated by Switzerland-based Mediterranean Shipping Company weeks after they found about 20 tons of cocaine worth $1.3 billion on the vessel. The MSC Gayane is owned by JPMorgan Asset Management and chartered to MSC. Worth about $90 million, the ship was built in 2018 and has capacity for around 10,000 containers.
IndiGo Co-Founder Bhatia in talks to buy Burger King India: Reports
IndiGo Co-Founder Rahul Bhatia’s InterGlobe Enterprises is reportedly in the final stage of talks to acquire Burger King’s India franchise from private equity firm Everstone Capital for ₹1,400 crore. Burger King India operates around 200 outlets and generated sales of ₹389 crore in 2017-18. InterGlobe currently has interests in aviation, hospitality, real estate, IT services and travel booking.
Pak hasn’t acknowledged presence of PoWs in its custody: India
Pakistan has not acknowledged the presence of any missing Indian defence personnel or Prisoners of War (PoWs) in its custody so far, despite consistent efforts from India to ensure their release, the government said on Wednesday. However, the government added that as per available information, around 83 missing Indian defence personnel including PoWs, are believed to be in Pakistan’s custody.
Virgin Orbit successfully performs its 1st rocket drop test
Billionaire Richard Branson’s spaceflight firm Virgin Galactic’s sister firm Virgin Orbit has successfully performed its first rocket drop test with a 70-foot dummy LauncherOne rocket. The test was performed using its Boeing 747-based launch aircraft, nicknamed “Cosmic Girl”, from an altitude of 35,000 feet. CEO Dan Hart estimated the cost of a launch using LauncherOne to be about $10-15 million.
Volkswagen ends production of its iconic Beetle car after 8 decades
Volkswagen’s Beetle production officially came to an end after over eight decades as the last Beetles produced rolled off the assembly line in Puebla, Mexico on Wednesday. A special ceremony at factory marked the end of production. The last Beetles will be sold on Amazon in a move symbolising Volkswagen’s embrace of the future, Volkswagen Mexico CEO Steffen Reiche said.
10 rebel Congress MLAs from Goa join BJP
Ten rebel Congress MLAs from Goa who resigned on Wednesday met BJP’s Working President JP Nadda in Delhi on Thursday and formally joined the BJP. Goa Chief Minister Pramod Sawant accompanied the MLAs to the meeting in Delhi. After their merger with the BJP, the party’s strength in the Goa Assembly has increased to 27.
Vodafone CEO takes $1.6 million bonus cut after shares fall
Vodafone Group CEO Nick Read and CFO Margherita Della Valle have voluntarily requested a 20% reduction in their three-year share awards after company’s shares fell 30% in 12 months. The company said Read will give up stock worth $1.6 million, reducing his share bonus to about $6.4 million. This follows a shareholder advisory group objecting to Vodafone’s latest remuneration plan.
IL&FS puts 2,880 acres of land in Gujarat’s Kutch on sale
Debt-laden IL&FS Group has put up its 2,880 acre of non-contiguous land parcels spread across seven villages in Gujarat’s Kutch district for sale in order to monetise its assets. The group invited expressions of interest (EOIs) from potential bidders for the land parcels, owned by three of its subsidiaries. The group has a debt burden of around ₹1 lakh crore.
Apple opens 1st China app design and development accelerator
Apple has opened the first app design and development accelerator for China in Shanghai to help local developers create better apps. Apple said over 2.5 million developers from Greater China have earned over $29 billion since App Store’s China launch in 2010. The accelerator is similar to the one that the technology giant had opened in Bengaluru two years ago.
₹1.2 crore cash flies out from a truck on US highway
Over a dozen drivers stopped their cars on a US highway on Tuesday to collect cash after a door of an armoured truck opened and ₹1.2 crore ($175,000) cash flew out of it. The police said “plenty [of cash] was taken” by passersby but the exact amount is unknown. The police have asked the drivers to return the cash.
World Cup to get first-time winners as Eng beat Aus to reach final
Three-time runners-up England defeated five-time champions Australia by 8 wickets in the second 2019 World Cup semi-final to reach World Cup final for the fourth time and the first time since the 1992 edition. In the final, England will face New Zealand, who also haven’t won the World Cup so far. The final will take place at Lord’s on Sunday.
Missing US scientist found murdered in Nazi bunker in Greece
The body of Suzanne Eaton, an American scientist who went missing over a week ago, has been found in a bunker used by the Nazis during WWII on the Greek island of Crete, authorities said. Eaton was attending a conference in Crete and is believed to have disappeared during a run. A post-mortem examination found that she was asphyxiated.
Rupee hits 11-month high of 68.45 against US dollar
The Indian rupee, along with other Asian currencies, strengthened against the US dollar on Thursday after Federal Reserve Chairman Jerome Powell signalled that the US central bank could soon cut interest rates. The rupee gained 12 paise to end at 68.45, an 11-month high. The rupee has risen 1.9% against the dollar so far this year.
N Korea revises constitution to make Kim Jong-un head of state
North Korea has revised its constitution to declare Kim Jong-un as the official head of the state. The revised constitution states that the Chairman of the State Affairs Commission (SAC) serves as its supreme leader that “represents the country”. Previously, the President of the Presidium of the Supreme People’s Assembly represented the country as the constitutional head of the state.
