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Thursday, June 22, 2017

Jun 22, 2017 - Snap said to buy mapping start-up Zenly for $200 million

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
The political economist Benjamin Friedman once compared modern Western society to a stable bicycle whose wheels are kept spinning by economic growth. Should that forward-propelling motion slow or cease, the pillars that define our society - democracy, individual liberties, social tolerance and more - would begin to teeter. Our world would become an increasingly ugly place, one defined by a scramble over limited resources and a rejection of anyone outside of our immediate group. Should we find no way to get the wheels back in motion, we'd eventually face total societal collapse. Such collapses have occurred many times in human history, and no civilisation, no matter how seemingly great, is immune to the vulnerabilities that may lead a society to its end. More here.

GST Solution in the spotlight
'Discover DigiGSTTM- EY's integrated GSP-ASP compliance solution'  

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Snap said to buy mapping start-up Zenly for $200 million

Snap bought Zenly in late May, according to the person, and has already turned the product into a feature on its main Snapchat application

Advt: Lending solutions for all your long-term business needs

No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More)
Advt: Work for the best employer - Yourself
Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification.

InvITs fail to impress, investment managers look for more certainty

The two InvITs that have hit the bourses so far—IRB Infrastructure Developers and India Grid Trust—haven't been rewarding to the investors as yet

Banks may have to take 56% haircut to bail out 5 debt-ridden steel companies

There are five steel companies in the list of 12 identified by the Reserve Bank of India

EESL to raise $100m via green bonds

EESL proposes to raise Rs 1,000 crore from the domestic market in two tranches.

Altice raises $1.9 billion in year's second-biggest US IPO

Altice USA and some existing shareholders sold 63.9 million shares for $30 apiece in the second-biggest US IPO of the year

Do systematic investment plans offer any flexibility?

Stopping an SIP online take about 5-7 days, while offline it could take as much as 21.

Fund managers wary of PSU bank merger fallout

72 mutual fund schemes held shares in top four PSBs ­ barring SBI as of May this year.

Current headwinds to help shape M A contours for Indian pharma

Drugmakers have reported impairments, reduced revenue guidance, or stretched the payback time.

Facebook's Sheryl Sandberg won't run Uber, but she knows what it needs

Uber is looking to have someone like Facebook's Sheryl Sandberg as CEO, who says the company's bro culture is the fountainhead of crises at ride hailing giant

SoftBank invests $100 million in security start-up Cybereason

Cybereason raises $100 million from SoftBank, bringing another cybersecurity business closer to the $1 billion valuation

GST: why profit may become collateral in war on profiteering

The new anti-profiteering rules imply that all savings must be passed on, including the benefit earned from input tax credit

We need a bank as a partner, with or without stake: MR Rao, Managing Director, Bharat Financial Inclusion

Normally, in a heavy competitive business, pricing comes down. In this space, given the fact that there was no system and credit bureau, people could grow 60-70% without competing on price.

Lenders to decide fate of Bhushan and Essar Steel today

Banks have outstanding loans worth Rs 45,000 crore to Essar Steel, Rs 47,000 crore to Bhushan Steel, and Rs 11,000 crore to Electrosteel Steels.

Sebi's showcause notice to NSE in algo-trading case points to another shoddy investigation

What's worse still is that Sebi may have found evidence of undue gains by some stockbrokers in the algo-trading case but hasn't brought it up to help NSE save face

Here is what will affect banks returns to assets ratio, sustained income

Banking sector is the backbone of India's financial sector—it generates two-thirds of household savings and provides over 90% commercial credit.

Government asks banks to deposit junked notes at RBI by July 20

This is the second window the government has provided to banks, post offices and cooperative banks for depositing the junked notes with RBI.

Can digital coins work in a 95% plus cash economy like India?

Digital payments in India arent as popular as M-pesa in Kenya where users pay digitally for such small transactions like bus tickets or purchase of fruit.

Cryptocurrencies: the world beyond bitcoins

We take a look at some of the major cryptocurrencies in the world and how it is created

As Amazon Increases Domination, Goldman Asks What can't be bought online?

As Amazon seeks to gobble up the world, there are traditional businesses that are immune to the online e-commerce threat, Goldman Sachs notes

Eureka Forbes shifts focus to retail to increase sales

The company will soon expand the network of retail stores, where its products are sold, to 25,000 from 20,000, said associate vice president (marketing) Shashank Sinha.

Amazon will start selling Nike shoes directly for the first time

It's unclear how much more Nike merchandise might ultimately flow through Amazon, but the prospect of a special relationship between the two companies sent shoe-retailer stocks tumbling.

Fashion ecommerce portal Fynd closes Series A with $3.4 million

The offline-to-online startup will use the funds to increase the customer base, strengthen its technology and optimise operations

US' Saucony coming with Reliance Retail

Tata International and Wolverine Worldwide formed a 50:50 JV for wholesale distribution of Wolverine's Merrell and Caterpillar footwear brands and apparels in India.

Avoid the temptation to overregulate telecom

There are good reasons for allowing the struggle for survival and market share to play out in its entirety

Chinese smartphone players squeeze out Indian mobile manufacturers

Market share of Chinese handset makers rises to 51% in first quarter

India best in 4G availability, worst in download speed: Infographic

India is among the world's best when it comes to availability of 4G networks, or proportion of time users have access to a 4G network, according to Op..

Telecom players to meet minister tomorrow on financial stress

The meeting comes just days after an inter-ministerial group held a dialogue with all telecom companies on the industry's financial stress and measures that can be taken to ease the situation.

Stress in telecom sector could widen fiscal deficit; govt needs to extend sops

As much as 30 paise of every rupee of telecom industry's topline goes to the govt; also 40-50 percent of its debt is probably held by the govt

How Huawei and Ericsson plan to help India telecom operators' deliver better video services

Indian telecom operators are looking at offering video in the form of video on demand (VoD), Live TV through aggregation partnership with content play..

FMCG firms eye rural push via govt's common service centres

FMCG firms eye rural push via govt's common service centres - HUL, ITC, Iffco products can be ordered online in rural areas via such centres

Companies reduce supplies ahead of transition to GST

Companies across several sectors have decided to stop dispatches or keep them to a minimum during the last days of June to ensure they are ready for the switchover to GST and their dealers and distributors are not saddled with excess stocks.

Now, more Indians prefer to have tea with small brands like Wagh Bakri, Amar Tea

Smaller brands such as Wagh Bakri, Amar Tea, Girnar and retailers private labels together gained more than 320 basis points (bps) since 2012 in the tea market.

Faced with suit, Patanjali takes back trademark application

"We have already withdrawn all the Ojas trademark applications on 19-April-2017," SK Tijarawala, spokesman for Patanjali Ayurved said in an emailed response.

No hard feelings! Most millennials in India prefer to grin and beer it

A survey reveals that beer is the most popular drink among millennials in Bengaluru and Gurugram.

Flipkart, Amazon's big push for private labels leaves local sellers unhappy

Private labelled products allow e-commerce firms to earn much larger margins compared to the commissions earned through sellers that sell similar products.

PET bottles have a 70% recycle rate in India, for good reason

Do you know that Indian cricket team' uniform, made by Nike, is produced from recycled PET bottles

Amazon India to set up temporary offline stores in Bengaluru, Mumbai and Delhi-NCR for fashion sale this weekend

Amazon India to setup physical stores in 12 locations of India to push the end-of-season-sale ahead of GST roll out.

Gautam Mago Steps Down As MD Of Sequoia Capital India

Gautam Mago has been at the forefront of several deals for Sequoia India, including two unicorns - Zomato and Ola.

Flipkart, Amazon's big push for private labels leaves local sellers unhappy

Private labelled products allow e-commerce firms to earn much larger margins compared to the commissions earned through sellers that sell similar products.

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