BUSINESS
WeWork co-founder's startup gets unicorn status even before launch
Marc Andreessen said., "We are excited to partner with Adam Neumann and his colleagues on Flow. Adam is a visionary leader who revolutionised the second largest asset class in the world - commercial real estate - by bringing community and brand to an industry in which neither existed before. We think it is natural that for his first venture since WeWork, Adam returns to the theme of connecting people through transforming their physical spaces and building communities where people spend the most time: their homes."
China's semiconductor output dips 17% in July amid US threat
According to data released by the National Bureau of Statistics, the production of integrated circuits (ICs) dropped 16.6 per cent year-on-year to 27.2 billion units last month, reports South China Morning Post. China had reported 27.5 billion and 28.8 billion units for May and June, respectively. "The weakness in chip production is a further setback for China's ambition to boost local semiconductor production and cut reliance on imported chips," the report mentioned.
Galaxy Digital terminates $1.2 bn acquisition of crypto firm BitGo
The proposed acquisition was the global crypto industry's first $1 billion deal. "Galaxy remains positioned for success and to take advantage of strategic opportunities to grow in a sustainable manner," said Mike Novogratz, CEO and Founder of Galaxy. "We are committed to continuing our process to list in the US and providing our clients with a prime solution that truly makes Galaxy a one-stop shop for institutions," he added.
Demand for 5G smartphones nosedives in Southeast Asian countries
5G deployment in developing Southeast Asian markets has been abysmal, ensuring the hype for 5G has dwindled, and demand has shifted to more practical aspects of smartphones such as battery life, storage, processor speed and camera quality, reports Canalys. "The demand for 5G devices has come to a standstill. 5G devices experienced their first sequential decline to 18 per cent of overall smartphone shipments in Q2," said research analyst Chiew Le Xuan.
Bhavish Aggarwal unveils Ola electric car with 500 km range
Aggarwal said the Ola Electric car will have a 500-km range on single change and will go from zero to 100 km within 4 seconds. "Designed to deliver a drag coefficient of less than 0.21, it will be the sportiest car ever built in India with an all glass roof," said the company. The car will be equipped with one of the most advanced computers in a 4W, assisted driving capabilities, keyless and handless doors among many other features etc, the company added.
Insider trading compliance is being track by NSE
Soon after this, NSE is tracking companies are following this compliance or not to stop insider trading. As per SEBI's regulations on insider trading prohibition, listed companies have to maintain a structured digital database (SDD) to store UPSI, which includes a range of information like financial numbers, business plan, decision to sell off a factory, merger, demerger, dividend etc that can move the stock price.
'No compliance issues' as BYJU's files FY21 tax returns, Deloitte audit report soon
The audited financial statement for FY21 from Deloitte may also be made public "within a week" as the consolidation of businesses is complete after "ironing out the complexities" as the edtech unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year, according to the people close to the matter. According to them, there are "no compliance issues" as the company has filed its tax returns in the "due diligent manner" and the Deloitte audit report will be made available soon.
Tesla surpasses 3 mn car production mark: Elon Musk
Tesla cars have so far achieved over 40 million miles and the company expects to reach 100 million miles at the end of this year. "Congrats Giga Shanghai on making the millionth car! Total Teslas made now over 3 mn," Musk tweeted late on Sunday. Earlier this month, Musk hinted that Tesla would probably build "at least 10 or 12 gigafactories" in years to come. Musk said that the long-awaited Cybertruck (announced in 2019) will also be unveiled soon, though he did not give further details.
Hyundai ranks 3rd in global vehicle sales in 2022 1st half
Hyundai Motor, its independent Genesis brand and Hyundai's smaller affiliate Kia Corp. sold a total of 3.299 million vehicles in global markets in the January-June period, following Toyota Motor Group's 5.138 million units and Volkswagen Group's 4.006 million units, according to their sales data. In the first six months, increased sales of Genesis models, the all-electric Hyundai IONIQ 5 and the pure electric Kia EV6 pushed up the Korean carmaker's sales ranking, reports Yonhap news agency.
Rakesh Jhunjhunwala-backed Nazara Tech now a leading gaming company
Jhunjhunwala, who understood the future of online gaming in India when the industry was still in its infancy, owned 10.03 per cent or 65.88 lakh shares in Nazara Technologies, whose partnership with global e-sports platforms, game publishers and brands have made it the leading e-sport company in the country. Nazara is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, e-sports and gamified early learning ecosystems.
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