After Facebook’s mega-investment, Indian carrier Reliance Jio raises $748M from Silver Lake

After getting a $5.7 billion investment from Facebook, Indian’s largest carrier, Reliance Jio, has raised another $748 million at a valuation of $65 billion — this time from private equity firm Silver Lake. The firm will own a 1% stake in Jio. Jio is currently India’s biggest telecom network provider with more than 388 subscribers. In a statement, Egon Durban, Silver Lake Co-CEO and managing partner, said the market potential addressed by Jio is enormous: Jio Platforms is one of the world’s most...
Tags: Startups, Facebook, India, Silver Lake, Reliance Jio, Jio, Jio Jio, Hard Fork, Jio Platforms, Facebook Indian, Silver Lake The, Egon Durban Silver Lake Co

Covid-19 coronavirus: S&P Global - NZ financial system successfully navigating crisis

New Zealand's "monetary policy flexibility, wealthy economy, and solid institutions" are enabling "decisive policy actions" and putting the country in a strong position for economic recovery, ratings agency S&P Global says in a new... [Author: [email protected]]
Tags: Business, New Zealand

GM Korea to cut output of key SUV as virus hits U.S. exports - document

General Motors Co's South Korean unit plans to sharply cut output this month at a factory producing its new Trailblazer sport-utility vehicle (SUV), as the coronavirus outbreak weighs on its U.S. exports and also disrupts parts supplies.
Tags: Money, businessNews, General Motors Co, GM Korea

India doubles down on solar, gas at coal's expense as electricity use falls

India's solar and gas-fired electricity generation rose in April even as overall power demand fell at the steepest monthly rate in at least thirteen years, a Reuters analysis of provisional government data showed.
Tags: Money, India, businessNews, Reuters

Silver Lake to invest $747M in India’s Jio Platforms

Weeks after Facebook invested $5.7 billion in Indian telecom giant Jio Platforms, private equity firm Silver Lake is following suit. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $746.8 million) in the top Indian telecom operator Jio Platforms, giving it a valuation of $65 billion. The Menlo Park-headquartered PE firm, which has approximately $40 billion in combined assets and committed capital, has invested in dozens of tech firms over the years, sev...
Tags: Facebook, Asia, Finance, India, Funding, Tech, Silver Lake, Reliance, Menlo Park, Reliance Industries, Jio, Mukesh Ambani, Ambani, Egon Durban, Reliance Industries India, Jio Platforms

Reliance says Silver Lake to invest nearly $750 million in its digital arm

Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest 56.56 billion rupees ($746.74 million) in its digital arm, giving it a valuation of 4.90 trillion rupees.
Tags: Money, businessNews, Silver Lake, Reliance, Reliance Industries Ltd

Australia job advertisements plunge record 53.1% in April - ANZ

Australian job advertisements suffered their largest ever fall in April as strict social distancing rules and business closures to combat the coronavirus all but crushed demand for labour.
Tags: Money, Australia, businessNews

U.S. airlines now requiring masks, promise more safety measures

With the largest U.S. airlines now set to mandate - and provide - facial coverings for all passengers over the next two weeks, many are turning their focus to other measures to prevent the spread of the new coronavirus during air travel.
Tags: Money, businessNews

Trump says up to 100,000 Americans may die from coronavirus

U.S. President Donald Trump said on Sunday he now believes as many as 100,000 Americans could die in the coronavirus pandemic, after the death toll passed his earlier estimates, but said he was confident a vaccine would be developed by the year's end.
Tags: Money, businessNews, Donald Trump, Trump

Global Markets: Dollar edges up, Asian stocks slip as U.S.-China tensions flare

The dollar inched higher, stock markets struggled for traction and oil fell on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
Tags: Money, businessNews, U S China

Westpac earnings plummet, halts dividend, flags insurance and wealth exit

Westpac Banking Corp said on Monday it would not pay a dividend in June, as it posted a 70% drop in first-half cash earnings and announced a strategic review of its underperforming wealth, pension investments and insurance units.
Tags: Money, businessNews, Westpac, Westpac Banking Corp

Greece sees economy tanking this year on coronavirus impact - stability programme

Greece expects its economy to contract by 4.7% to 8.9% this year under baseline and adverse scenarios taking into account the impact of the coronavirus pandemic, the government's 2020-21 stability programme submitted to the EU Commission projects.
Tags: Money, Greece, businessNews, EU Commission

Iran's OPEC governor in coma after brain haemorrhage

Iran's OPEC Governor Hossein Kazempour Ardebili is in a coma after a "severe brain haemorrhage", SHANA, the news site of the Iranian oil ministry, reported on Sunday.
Tags: Money, Opec, Iran, businessNews, Hossein Kazempour Ardebili

Tighter scrutiny of derivatives clearers proposed amid standoff with banks

Global regulators have proposed tighter scrutiny of clearing houses handling trillions of dollars in derivatives trades after calls from banks for them to be better funded to withstand extreme stress.
Tags: Money, businessNews

UK starts state-backed loans for smallest firms

A government-backed loan scheme to help Britain's small businesses survive the coronavirus lockdown comes into effect on Monday, allowing firms such as hairdressing salons, coffee shops and florists to receive emergency cash.
Tags: UK, Money, businessNews, Britain

Oil prices lower on U.S.-China trade tension

Oil prices fell in early trade on Monday, paring last week's gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease.
Tags: Money, China, businessNews

Trump says more needs to be done to ease economic hit of coronavirus pandemic

U.S. President Donald Trump said there had to be more help for Americans suffering from the economic tailspin brought about by the new coronavirus in a possible hint he wants Congress to pass another aid bill.
Tags: Money, Congress, businessNews, Donald Trump, Trump

The tide has turned against WeWork after a botched IPO attempt — now its trouble is deepening. Here's everything that's going on inside the coworking giant.

WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.  New CEO real-estate veteran Sandeep Mathrani started in February, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted. In April, investor SoftBank backed out of its plan to buy $3 billion worth of WeWork shares, including nearly...
Tags: Google, UK, Stanford, Wall Street, Ipo, Softbank, US, America, Trends, Kanye West, Italy, Brookfield, Silicon Valley, Goldman Sachs, WeWork, Taylor

How to get Minecraft for free

While there is a free version available, it's limited in scope and only includes the Creative mode from 2009.
Tags: Gaming, Video Games, Trends, How-to, Minecraft, Mojang

Global Markets: Dollar firm but stocks, oil under pressure as U.S.-China tensions rise

The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus - and growing unease at the gulf between asset prices and grim economic reality - turned investors cautious.
Tags: Money, China, businessNews, U S China

How to secure your Xbox account

Unfortunately, Xbox doesn't offer two-factor authentication. Here’s how to protect your personal info anyway.
Tags: Gaming, Microsoft, Xbox One, Trends, How-to, Xbox, Xbox Series X, Vidego Games

How to secure your PSN account

Protecting your info is important when playing online. There are a few ways you can protect your account.
Tags: Gaming, Video Games, Trends, How-to, Playstation, Sony, Psn

Local Focus: Faceless Facebook difficult to contact for locked out local business

Facebook is a lifeline for a lot of small businesses. But Whanganui clothing manufacturers Mindzye Fashions is finding out just how precarious it can be to rely on them after their account was shut down five weeks ago.Concerned... [Author: [email protected]]
Tags: Facebook, Business, Whanganui, Faceless Facebook, Mindzye Fashions

What is Roblox?

If you're a parent, you've probably heard of Roblox. In this guide, we'll explain the basics of what it is.
Tags: Gaming, Video Games, Xbox One, Trends, How-to, Roblox, Roblox Corporation

How to Navigate the May Day Maze in Animal Crossing: New Horizons

Finding the end of the maze in Animal Crossing: New Horizons can be tricky. Collect everything before leaving.
Tags: Gaming, Video Games, Trends, How-to, Animal Crossing, Animal Crossing: New Horizons

Covid 19 coronavirus: Phil Goff on making sure the cure doesn't kill the patient

In February this year, Auckland Council was focused on the challenges ahead of a city enjoying relentless growth: building transport infrastructure to relieve traffic congestion, coping with the highest ever level of building consents,... [Author: [email protected]]
Tags: Business, Auckland Council, Phil Goff

How to Successfully Move Your Business Online

By Dmytro Spilka The coronavirus pandemic has heralded a brief era of uncertainty where we are all looking to prioritize the safety of ourselves and others ahead of our business’s financial security. This has led to scores of companies closing their doors in the short term and setting up to operate online in order to serve people in locked-down communities.  Fortunately, we live in a time where technology has enabled countless businesses to serve their customers entirely online. While s...
Tags: Amazon, Facebook, Sales, Online Business, Remote Work, E-commerce, Google Analytics, Paypal, Search Engine Optimization, GrubHub, Pandemic, Dmytro, Dmytro Spilka, Coronavirus, COVID-19, COVID

Cannasouth raises $6m to accelerate growth plans

Cannasouth has raised $6 million from its share purchase plan to accelerate its growth plans, including a new supply deal for 'white label' cannabis. The biopharmaceutical research and development company sold 15.8 million shares... [Author: [email protected]]
Tags: Business, Cannasouth

Spark follows Vodafone into 'endless' mobile data - with a couple of catches

Spark has followed rival Vodafone into 'endless' mobile data plans - as predicted by analyst Peter Wise in February when he said Vodafone's move would "force a competitive response".As with Vodafone's plans, you get maximum mobile... [Author: [email protected]]
Tags: Business, Vodafone, Peter Wise

COVID-19 payments going to foreign students, as well as dead people

Confused about who gets coronavirus relief payments? Apparently so is the Internal Revenue Service's distribution system. Thousands of foreign workers, many living overseas, were sent COVID-19 economic relief payments due to an unforeseen glitch that funneled the money, meant for U.S. taxpayers, to other countries, according to a Politico report. That story is this weekend's featured Sunday Shout Out. Former foreign college workers: The payments mostly went to college-age workers who spent ti...
Tags: Texas, Taxes, Politico, Pennsylvania, United States, Sam, Irs, Internal Revenue Service, Ian Kullgren, COVID, Todd Gillman, Dallas Morning News Washington Bureau

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