Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. News
  2. Explained

Jet Airways Reports Big Losses, Google Enters Credit Market in India et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 28, 2018 12:48 PM 2 min read
Editorial

End of Day Wrap-up (Tuesday/ Aug 28, 2018) #JetAirways #Q1 #Google #HDFCBank #ICICIBank #KotakMahindra #FederalBank #Airtel #Netflix #TechMahindra #Microsoft #Blockchain #BerkshireHathaway #Paytm #Toyota #Uber #Transfin

Editor's Comment: Jet Airways reports losses at INR1,323cr for Q1, from a profit of INR54cr in the same quarter last year. Losses this quarter have been expected, as the Indian airline industry struggles on back of rising fuel costs, competitive pricing and forex losses.

 

Google announces partnership with four domestic banks to launch digital lending in India. HDFC Bank, ICICI Bank, Kotak Mahindra and Federal Bank will offer instant pre-approved loans to customers through Google Pay, Google’s payment portal.

 

Airtel ties up with Netflix to provide 3-month free subscriptions to postpaid and broadband customers. Airtel will offer the subscription to new customers and certain groups of existing customers will receive this offer in the coming weeks.

 

Tech Mahindra and Microsoft to work together on a Blockchain-centric solution to curb fake calls. The platform will be built on Microsoft Azure and will include relevant enterprises like telecom companies and telemarketers to curb fake news.

 

Berkshire Hathaway buys INR2,500cr stake in Paytm’s parent company One97 Communications. This investment will boast the digital payment industry in India and globally, especially Paytm. This investment marks a shift in Berkshire Hathaway’s traditional investment strategy in consumer, energy and insurance.

 

Toyota to invest $500mn in Uber to work together on driverless vehicles. Both companies will work together on autonomous vehicles aimed at improving safety and lowering transportation costs.