WeWork prefers JPMorgan debt package over SoftBank control: Bloomberg
Co-working space startup WeWork prefers choosing a $5-billion debt financing package from lenders led by JPMorgan rather than selling a controlling stake to SoftBank, Bloomberg reported. This follows reports claiming that without the new funds, WeWork could run out of cash before November ends. The debt package reportedly includes at least $2 billion of unsecured notes with a 15% coupon.
Mumbai NBFC InCred raises ₹15 crore in debt
Mumbai-based financial services startup InCred has raised ₹15 crore though Non-Convertible-Debentures (NCDs). Aditya Jain and Fairmount Healthcare, among others participated in the debt round. In April, InCred had raised ₹600 crore in its Series A funding round led by Dutch development finance institution FMO. Founded by Bhupinder Singh, InCred offers loans to businesses as well as consumers.
Govt mulls fund boost, quarterly review for startups: Report
The government is reportedly planning to boost startup investments by increasing the corpus of its ‘Fund of Funds for Startups’ (FFS) from ₹10,000 crore presently. It also plans to start a quarterly review of the startups to address their issues, reports said. The Department for Promotion of Industry and Internal Trade (DPIIT) will discuss the same with the Finance Ministry.
I think the audience wants it: Scarlett on all-female Marvel film
Hollywood actress Scarlett Johansson, who portrays Black Widow in the ‘Avengers’ film franchise, while speaking about an all-female Marvel movie, said, “I’m pushing for that. I think audiences want it and I’m definitely one of them.” “That group of actresses is so incredibly powerful and when they come together, it’s explosive and unstoppable,” she added.
Mitchell Marsh breaks hand after punching wall in anger, out for six weeks
Western Australia all-rounder Mitchell Marsh will miss four to six weeks of professional cricket after he broke his right hand by punching a wall in anger over his dismissal against Tasmania on Sunday. The injury means Marsh will miss the start of the Australian Test summer. The 27-year-old said he had never punched a wall before Sunday’s incident.
Ronaldo reaches 700 goals; has scored 442 with right foot, 127 with head
Cristiano Ronaldo scored 700th goal of his career during Portugal’s 1-2 defeat against Ukraine in a Euro 2020 Qualifiers Group B match. Ronaldo has scored 442 of his 700 goals for club and country with his right foot, 127 with his head and 129 with his left foot. Further, his goals include 113 penalties and 55 free-kicks.
88th-min goal helps India salvage 1-1 draw vs B’desh in FIFA WC Qualifier
Midfielder Adil Khan scored in the 88th minute to help India salvage a 1-1 draw against Bangladesh in a Group E second round 2022 FIFA World Cup Asia Qualifier match on Tuesday. This was India’s second consecutive draw in the second round after their goalless draw against Qatar in September. India will next face Afghanistan on November 14.
Banerjee, Duflo among 108 academics who questioned Indian data
Nobel-winning economist couple Abhijit Banerjee and Esther Duflo were among the 108 academics who questioned the credibility of India’s official data in March. Indian statistics and the institutions associated with them have “come under a cloud for being influenced and indeed even controlled by political considerations”, they said. Other signatories included Jean Dreze and Ashwini Deshpande.
Malaysia offers to increase imports from India after Kashmir row
Malaysia said it is considering raising imports of raw sugar and buffalo meat from India after reports said India could restrict Malaysian palm oil imports following the country’s criticism of India’s actions in Kashmir. Malaysian PM Mahathir Mohamad said at the UN General Assembly that India had “invaded and occupied” Kashmir. Notably, palm oil contributed 4.5% to Malaysia’s total exports.
My Bengali roots don’t mean I enjoy rosogollas: Paes on fitness
Talking about his fitness, Leander Paes, who still plays doubles tennis at the age of 46, said that his Bengali roots don’t mean he should enjoy eating rosogollas and gulab jamun. “Today, I have to put in 12-hour days. It’s about changing your whole lifestyle,” Peas added. Paes has won 18 Grand Slams (doubles and mixed doubles) in his career.
Booking.com owner drops out of Facebook’s Libra Association
Online travel firm Booking Holdings, which operates several websites including Booking.com, has dropped its support for Facebook’s cryptocurrency Libra, which is scheduled for launch in 2020. This follows six other companies including Visa, Mastercard, PayPal, eBay, Stripe and Mercado Pago leaving the Libra Association. The group now has 21 founding members left including PayU, Uber and Spotify.
Hyundai plans to invest $35 bn in self-driving cars, auto tech
Hyundai Motor Group said that it plans to invest $35 billion towards self-driving cars and other auto technology by 2025. The plan has received backing from the South Korean government in which the government and automakers will invest $50.7 billion. President Moon Jae-in said he expected self-driving cars to account for half of the new cars by 2030.
Apple begins manufacturing iPhone XR in India: Reports
Apple has reportedly started commercially manufacturing the iPhone XR in India, at a Foxconn facility near Chennai. Apple had earlier limited its iPhone production in the country to the iPhone 6S, iPhone SE and the iPhone 7. This reportedly follows Apple’s plans to gradually move a large portion of its production base out of China amid the US-China trade war.
Import abuses to hurl at me but stop backstabbing India: PM to Cong
PM Narendra Modi on Tuesday told the Congress that it can import abuses from countries like Thailand and Vietnam to hurl at him but the party should stop backstabbing India. He alleged, during a poll rally, that some Congress leaders are spreading rumours about the government’s decision to revoke Article 370 in J&K across the world.
UP government terminates services of 25,000 Home Guards
The Uttar Pradesh (UP) government terminated the services of 25,000 Home Guards in the UP Police Department. The decision was reportedly taken due to financial constraints faced by the police department. The UP government had recently hiked the pay of Home Guards from ₹500 a day to ₹672 a day on the Supreme Court’s order, reports said.
PM talks of peace on foreign trips but war in India: Kanhaiya Former President of JNU Students Union Kanhaiya Kumar on Tuesday said that PM Narendra Modi talks of peace on foreign trips but in India he speaks of war. Kumar alleged that those who speak against the government are being labelled a traitor. Kanhaiya was denied permission to speak at a university in Karnataka citing law and order situation on Tuesday.
