Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. Adda

ewv

Jan 1, 1970 12:00 AM 2 min read
Editorial

INDIA
 
Wipro share price up [8%] post announcement of Alight Solutions deal 

The company signed a $1.6bn 10-year commercial deal with Illinois-based Alight Solutions, a technology-enabled health, wealth, HR,and finance solutions company and part of Aon plc. Wipro also completed the acquisition of Alight HR Services India, which was earlier acquired for $117m.

Edtech start-up Byju set to raise $200m-$300m, valuing it at $2.2bn-$2.4bn. Didi Chuxing may invest in OYO Rooms.

Byju in conversation with PE firm General Atlantic and Singapore based Temasek Holdings. Valuation from deal may be more than twice the value pegged during Byju's last round. Chinese ride-hailing company Didi Chuxing may invest in OYO Rooms, deploying capital in the hotel aggregator's China business.


Direct tax collections grow by 6.6% during Apr-Jul vs. Budget target of 14.4%

Corporate taxes, in particular, grew only by 0.57%, lowest during this period in 7 years - even though corporations were budgeted to yield 10.5% more revenues overall this fiscal. Personal income taxes in period grow by 11.3%, a three year low during Q1.

Anil Ambani's Reliance Group rejects allegations of benefiting from Rafale offset orders

Says offset business from Dassault to amount to INR6,600cr vs. INR30,000cr as accused by opposition. Company says the remainder INR23,400cr offsets will be discharged by other companies such as Thales, Safran, and MBDA.


US / INTERNATIONAL

Global advertising giant WPP choses Mark Read as new CEO after founder Martin Sorrell departed in Apr.
Mr Read, a company veteran, will take charge as head of the world's largest ad firm, under pressure from investors and clients to make the process of buying, creating, measuring the effectiveness of ads more transparent and simple - to compete against tech giants Facebook and Google.

President of US's largest group of labour unions, AFL-CIO, says a new NAFTA would need to include Canada.

Richard Trumka, president of AFL-CIO, which represents 12.5m US workers says his organization cannot support the nascent trade deal between US-Mexico, calling the structure too vague. On Friday, US and Canadian negotiators failed to reach agreement to revamp a trilateral trade deal to replace the 1994 NAFTA pact.
***