Why PhonePe’s fundraising process has hit roadblock

Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process. Digital payments firm PhonePe, which was out in the market for a large funding round, now […]

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Asian Markets Mostly Higher

Asian stock markets are mostly higher on Tuesday following the record highs overnight on Wall Street and as investor sentiment improved after the U.S. removed China from a list of currency manipulators ahead of the signing of a phase one trade deal between the two countries on Wednesday. Chinese Vice Premier Liu He is scheduled to visit Washington to sign […]

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World Economic Forum: 50 years in 50 seconds

London (CNN Business)If you’re born in the United States, having wealthy parents matters a great deal to your chances of success, according to a new report. Individuals born into poorer families have a better chance of owning a home, getting a good education and experiencing a better life than their parents if they are born in Canada than if they […]

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Huawei launches operating system as a hedge in trade war

Hong Kong (CNN Business)Attorneys for Huawei’s chief financial officer want a Canadian court to halt her extradition case based on what they claim was misconduct by US and Canadian authorities. That argument was detailed in court documents released Tuesday in Vancouver, where Meng Wanzhou is awaiting a hearing on her possible extradition to the United States. Meng was detained in […]

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JPMorgan says 'oui' to Paris expansion post-Brexit

PARIS (Reuters) – JPMorgan Chase & Co (JPM.N) is the latest investment bank to significantly expand its Paris hub as part of plans to relocate some services from London after Britain’s exit from the European Union, snapping up new premises in the French capital. JPMorgan would have said “No” to a Paris move back in 2016, its French executive told […]

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Davis Guggenheim And Jonathan King Launch Concordia Studio With Laurene Powell Jobs

Oscar-winning director of An Inconvenient Truth Davis Guggenheim and former Participant exec Jonathan King have teamed with Laurene Powell Jobs and Emerson Collective to launch Concordia Studio. The new company will focus on creating innovative nonfiction and scripted films, series, and streaming content. The new venture will develop, produce or finance content across all platforms with some of the most creative […]

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Business leaders on edge as Trump heads to Davos

Davos, Switzerland (CNN Business)The global economy is expected to pick up this year — but the International Monetary Fund is less optimistic about the recovery than it was a few months ago. The group said Monday that weaknesses in emerging markets, such as India, and growing social unrest had caused it to downgrade its forecast for economic growth in 2020. […]

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