MC Insider | Cars out, guards on at edtech firm, chop threat on staff, G20 word game and more!

A key edtech player has been aggressively pursuing cost-cutting strategies after funding tapered off and demand turned tepid over the past year. A recent move to stop providing cars for pick-up and drop created discontent among teachers and senior staff as it was one of the earliest incentives from the company and no one anticipated this to stop. And, more so, when the founder continued to retain two bodyguards at the office. No wonder, the employees have begun questioning the founder's priorities. It remains to be seen how the founder of the startup reacts.

A recent recast in the top deck at a major financial institution has fuelled whispers in the industry about the possibility for an insider to take over the corner office. The outgoing boss, insiders say, prefers a trusted hand from the senior leadership, rather than leaving the position to chance by handing over the critical charge to an outsider. The final call now rests with the regulator. Any guesses?

The latest market buzz is that two ace investor-traders, both enjoying a huge fan base, are exploring options to up their stakes in a healthcare stock through a preferential allotment of shares. So, what seems to be the trigger? Is there a narrative supporting the optimism? Well, we hear the company is expanding its reach and adding more managed hospitals to its chain.

Linked to the telecom sector, this company has landed in a tight spot far from its days of glory, and harps on a new venture to turn around. Employees, saddled with shallow pockets and deep discontent, however, believe the company's balance sheet is more fiction than fact. The company has been wielding the layoff axe like a lumberjack to sweeten its operating performance. Some are hopeful while the rest sound sceptical on the revival bid. It better work, otherwise, it might be yet another crude reminder of the fragility and short life new-tech businesses often face.

Turn to Deal Street and you hear the buzz getting louder about divestment plans in the works at this prominent South-based company that had begun operations many years back as a tailoring shop. Buzz is that this company is evaluating options to sell its hotels portfolio. Meanwhile, high net-worth investors are warming up to this other player in the market transactions segment which is gearing up for a block deal.

When India flaunted its digital public infrastructure, G20 dignitaries were particularly impressed by the instantaneous payments through mobile applications. One of the delegates, however, was not too keen to try it out. When asked about a live demonstration by a staff manning the UPI station of an innovation pavilion, the delegate was rather circumspect, saying he didn’t have an Aadhaar card that would be needed for KYC purposes. Even after being reassured that he would not have to furnish an Aadhaar card, he briskly walked away, clearly more interested in the Crafts Bazaar next door. At the other end of the spectrum was this enthusiastic delegate who adored the facility and used it to recharge his pre-paid wallet multiple times to pay for purchases made at the Crafts Bazaar!

Wondered how hard it is to discuss and negotiate at the G20 Summit? Let's sample this. The use of a certain phrase in a key report on the macro-economic impact of climate change left a major oil nation perturbed. The phrase in question was 'just climate transition'. Hold it! It was not the word 'just' that gave the nation a jerk. It was the word 'climate'. Negotiations and interventions followed on behalf of the Indian presidency and the phrase eventually underwent a cosmetic surgery to 'just transition'. The devil does indeed lie in the details!