Posts in Category: business

Uber to pay $245 mn in settlement with Waymo

  • 12th Feb 2018

Uber will pay $245 million to rival Waymo as settlement regarding a case on trade secrets. Last year, Waymo had accused one of its ex-employees, who joined Uber, of leaking trade secrets. The case will now be withdrawn from court, allowing breathing space for the scandal-ridden Uber. Waymo also gets a 0.34% stake in Uber.

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Now buy Xiaomi cars and loans

  • 12th Dec 2017

Xiaomi has written to the regulators to begin selling vehicles and to get into the banking business. This could include all types of cars -electric or otherwise. Its banking business includes payment bank, leasing and financing, payment gateway, mobile virtual network operators, etc. It also wants to sell laptops, gaming consoles, computer accessories, lifestyle products, clothes, toys, suitcases, etc.

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Punjab Grill owner eyes IPO

  • 11th Dec 2017

Lite Bite Foods, owner of Punjab Grill and Street Food, is looking at listing on the IPO in the next 12 months. Since the effects of GST and demonetisation has evened out, people are likely to resume eating out despite a slight increase in menu rates. Indians eat out just 3-4 times a month compared to 28 times in a place like Singapore.

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Bitcoin biz to attract up to 30% tax

  • 11th Dec 2017

People indulging in the business of bitcoins will have to face taxes ranging form20-30% depending on whether it is considered as business income or capital gains. No amendment to the income tax law is needed and any transfer of money to banks would invite tax. It is most likely to be taken as business income or speculative business.

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YouTube to launch paid music subscription service

  • 8th Dec 2017

YouTube is planning to launch a paid music subscription service in March. This is its third attempt. Warner Music has already agreed to it and discussions are on with Sony Music Entertainment and Universal Music Group. The company is criticised for not making enough revenue from its platform.

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No relief for Flipkart in tax case

  • 12th Feb 2018

Flipkart has got no relief in wanting to classify its marketing expenditure as capital expenses, as an IT panel refused to stay the case of Rs 110 crore. The e-commerce company has to bring Rs 55 crore as deposit for the FY 2015-16 and may have to pay more for the other years.

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Foreigns cos can claim stake in Air India

  • 11th Dec 2017

Foreign airlines that have a JV with an Indian company will be allowed to bid for buying out Air India. Currently, foreign companies can claim up to 49% in all airlines except Air India. However, it won’t allow it to be 100% foreign-owned.

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Reliance Retail eyes B2B pie

  • 11th Dec 2017

Reliance Retail is looking at doing business with local kirana stores by supplying them with FMCG and white goods and apparel. It aims to touch 92% of the untapped market since it won’t be enough to do B2C itself. Starting off with its own brands, kirana owners will be helped with GST compliance and managing supply chain operations.

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Retailers angry debit card charge linked to revenue

  • 8th Dec 2017

Retailers have criticised the RBI’s move to make debit card charges be reflective of a company’s revenue. They say that customers will have to pay more as retailers will pass on the costs to them. IShops with revenue under Rs 20 lakh will have to pay 0.4% of value or Rs 200 (whichever is lower) while those above have to charge 0.9% or Rs 1000.

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WhatsApp launching separate biz app

  • 8th Dec 2017

Whatsapp is launching a new separate business account and how to identify verified companies. A verified profile has a green check mark on its badge. A gray question mark would mean it is a business but not verified. It gives options such as analysis and auto responses. It is currently testing the standalone app.

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