Author: Srishti Singh
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EU telcos ramp up pressure on Big Tech to pay for the internet
Google, Netflix, Meta, Apple, Amazon and Microsoft generate nearly half of all internet traffic today. Telecom group think these firms should pay “fair share” fees to account for their disproportionate infrastructure needs and help fund the rollout of next-generation 5G and fiber networks. That’s why Telecom groups are ramping up pressure on EU regulators to consider a framework where the companies that send…
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Why Crypto bank Silvergate is winding down?
Troubled cryptocurrency financial services provider Silvergate Bank will shut down and its assets will be liquidated following months of ongoing drama in the market following the collapse of crypto exchange FTX Trading Ltd. in November. Parent company Silvergate Capital Corp. intends to wind down operations and voluntarily liquidate the bank in accordance with applicable regulatory processes. Silvergate said…
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Crypto now under Money laundering provisions in India
The finance ministry has notified that crypto or virtual asset businesses will now be in the ambit of the Prevention of Money Laundering Act, 2002 (PMLA). Now Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND). It mandates entities dealing in crypto to follow KYC, anti-money laundering regulations and due…
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Why Indian Edtech start-ups are laying off employees?
Recently Edtech unicorn upGrad has laid off 120 employees, which is almost 30 per cent of the total workforce, at its subsidiary that was acquired in 2021. A Tracxn report has estimated that 7,000-8,000 employees have been fired by edtech start-ups in this period, including, BYJU’S, Toppr, WhiteHat Jr, Unacademy, Vedantu, Practically. On the other hand…
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Raghuram Rajan warns of “Hindu rate of growth”
Why the Former Reserve Bank of India (RBI) governor Raghuram Rajan cautioned that India was “dangerously close” to the ‘Hindu rate of growth’? The term “Hindu rate of growth” was originally coined by Economist Raj Krishna in 1978, to refer to the meagre 3.5% growth in GDP between 1950s to 1980s . It is often…
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Why Shark Tank’s Epharmacy Pharmallama is in legal trouble?
Epharmacy Pharmallama who received funding from multiple investors on TV show Shark Tank India is in legal trouble. Delhi-based South Chemists and Distributors Association (SCDA), an association of pharmaceutical distributors has warned the startup and all investors of legal consequences for repacking drugs without obtaining license. This way Pharmallallma is operating in contraventions of multiple…
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The Negative Impact of Indian Budget on Indian Trusts
How the proposed Budget adversely affects Indian charitable trusts, including Tata Trusts and top corporate donors? Basically the new tax law proposed in the Budget, reduces tax breaks for the donor organisations. The Finance Bill proposes that if a charitable organisation donates to another charity, then only 85 per cent of the donation will be…
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Microsoft to invest in ChatGPT
❗️ Microsoft is planning to invest $10 billion in OpenAI, the startup behind popular artificial intelligence tool ChatGPT, according to a report from Semafor. ✅ The deal is part of a funding round with other investors involved that would value OpenAI at a whopping $29 billion. The plan is to close the deal by the end of…
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EDP Renewables will take legal action against Romania and Poland over energy taxes
Portugal’s EDP Renewables will take legal action against Romania and Poland where it operates 521 MW and 697 MW of renewables capacity respectively, over a new energy tax which could end up applying to unrealised profits. In order to comply with an European Union Council request for an emergency intervention to address high energy prices,…
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Microsoft-Activision Deal May Face Close Antitrust Scrutiny
In a rare historic moment in the gaming industry Microsoft agreed to acquire Activision Blizzard, a video game maker, for whooping $ 75 billion. This deal — if it gets finalised — is both horizontal and vertical integration, pairing Microsoft’s Xbox console business, which already owns huge game franchises like Minecraft and Halo, with one…
