...and all the other big stories from the country and around the world in twenty minutes.
A group of investors led by South Korea-based Mirae-Naver and China's Alibaba Group has pumped in $150 million in online frocery company BigBasket. In the process, the Bangalore-based company has become the latest desicorn. Or a new unicorn.
Basically, its valuation is now over a billion dollars. Speaking of unicorns, Ola's electric mobility venture has found support from another billionaire Ratan Tata, who is investing in OEM. OEM has already raised over 400 crore rupees in a round led by Tiger Global and Matrix India.
In earnings news, ICICI Bank reported a 5 percent drop in net profit today, far below analyst estimates. Bharti Airtel's profit has fallen 62.7 percent year-on-year to Rs 409.5 crores, emphasising the struggle the company has faced in the face of the relentless tariff war against Jio.
The new government to come into power is all set to inherit an unpaid infrastructure bill of 12.4 lakh crore rupees. Oops.
Infibeam stock fell today, after reports of a data breach. Infibeam has accused SRBC & Co, an auditing firm, of sharing sensitive data over emails and with third parties.
Finally, the roiling we saw in the markets across the world today was largely due to two tweets one man sent out: Donald Trump (who else). His tweets suggesting that the US would impose tariffs on 200 billion dollars worth of Chinese goods sent shockwaves down equity markets in Asia, with indices registering a three year low today. Is this merely a "negotiating tactic" or if there is any heft behind it, we will know soon enough.
There is a new kid in town, and he could be king. Prince Harry and Princess Meghan (Markle) are parents to the seventh in the line to the British throne, a baby boy.Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
India Union Budget 2019: What does Finance Minister Nirmala Sitharaman have up her sleeve? Click here for top and latest Budget news, views and analyses.