By Shuli Ren Nothing cements a venture capital firm’s reputation like a good exit. After a long dry spell, Masayoshi Son is finally catching a break: The listing of Uber Technologies Inc. made his Vision Fund one of the rare investors to book a capital gain from its stake, amounting to 418 billion yen ($3.81 billion) in the March quarter. While Uber shares have slumped since they started trading Friday, that’s a big win for the SoftBank Group Corp. founder, who likes to sell himself as a tech visionary. That extra cash could come in handy. Last December, Moody’s Investors Service re-classified SoftBank as an investment holding company after Son pulled off the world’s second-largest IPO, raising $23.6 billion from his Japanese telecom operator. Yet international ratings firms still rank the company one notch below investment grade, dangling their stamp of approval right before Son’s eyes. Make no mistake: Son covets a good rating. While his … [Read more...] about Does Uber make Masayoshi Son a savvy investor or a shopaholic?
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Talks of Uber selling off UberEats’ India business to Zomato is now in advanced stages, according to sources. The deal between the American ride-hailing giant and the local food delivery rival is happening at a point where the former is looking to cut down on their global spending. The deal values UberEats’ India business at $400 million, approximately and as a part of the deal Uber may invest between $150 to $200 million in Zomato and get a stake in the company. Both Uber and Zomato have declined to comment about this so far. While the talks are still on and terms are being negotiated, there are chances that the deal might be finalised before the end of the year.At this point Zomato is also on the verge of closing a new financing round of $600 million according to founder Deepinder Goyal. According to an older report in TechCrunch, China’s Ant Financial was close to leading a funding round of up to $600 million in Zomato at an … [Read more...] about Uber is all set to sell off UberEats’ India business to Zomato
After a weekend of cancelled flights due to a number of strikes impacting ground staff, baggage crew and pilots, the budget airline has announced more disruptions will plague passengers in the new year. Following a weekend of more than 100 cancellations, Jetstar says it will be forced to cancel 10 per cent of their flights throughout the month of January. “Industrial action doesn’t change the fact the wage claims being made by the TWU and AFAP are unsustainable,” Jetstar CEO Gareth Evans said in a statement. “In the case of the pilots, the union is asking for what amounts to a 15 per cent wage increase in the first year in a group where captains earn more than $300,000 a year. For some groups, their salaries would increase by $60,000. We can’t agree to that.” Jetstar has cancelled 100 flights due to strike action.Source:Supplied Mr Evans said the cost of disruptions and cancellation over December and January will amount between $20 million to $25 … [Read more...] about Jetstar announce 10 per cent of flights to be cancelled in January
Whether it might be his films or off-screen antics, Vijay Deverakonda manages to stay amid the headlines on a frequent note. The first look of his upcoming film World Famous Lover was unveiled a few days ago to a superb response for its striking resemblance to Arjun Reddy. The poster showcased Vijay as an angry, battered and bruised youngster. Despite bleeding from the injuries on his face, the actor is seen flipping a cigarette and blowing the smoke. Meanwhile, after shooting for the film for quite some time in a fully grown bearded look; the 30-year-old star took a brief break from his hectic schedule. The other day, Vijay took to social media and shared a set of new pics from his latest photo-shoot. With a clean-shaven look and charming persona, he looked uber stylish in the modern outfits. The clothes were designed by Allu Arjun's personal fashion stylist Harmann Kaur. Everyday Rowdy. https://t.co/1zsIA9rJRU— Vijay Deverakonda (@TheDeverakonda) 1570197064000 Rowdy owns … [Read more...] about Rowdy Alert! Vijay Deverakonda looks uber stylish in his latest photo-shoot
Two flights were cancelled due to poor visibility at the Chandigarh International Airport on a foggy Monday morning as the minimum temperature dipped to 8.5 degrees Celsius.Airport authorities said that the Air India flight to Kullu and the GoAir flight from Delhi were cancelled due to the fog. Other flights were delayed by 20 to 30 minutes.The meteorological department said that visibility dropped to 150 metres on Monday morning. This is the first time this season that visibility has dropped to such an extent.The delay in installation of CAT-IIIB, an advanced instrument landing system, at the Chandigarh airport is blamed for flight disruptions in foggy conditions.Over the past few years, several flights at the airport have remained grounded between mid-December and mid-January as aircraft require at least 100-metre visibility to land safely.At present, the Chandigarh airport is equipped with CAT-II equipment, made functional in November, which allows … [Read more...] about Two flights cancelled due to poor visibility in Chandigarh