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Zuckerberg May Resign, Softbank Funds Automation Anywhere et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Nov 17, 2018 1:41 PM 3 min read
Editorial

Good evening reader,

 

Irrespective of their practical outcome, China's recent energy exploits have a purpose.

 

A thrilling sci-fi plot point? Character arc for the Mad Scientist archetype?

 

Why say that?

 

Get a load of this. China is reportedly in the process of creating an "artificial moon", one bright enough to replace the streetlights in the south-western city of Chengdu by 2020!

 

Similarly galactic is a team of Chinese scientists who recently pulled off a stable nuclear fusion reaction, where the resultant plasma reached a whopping 100 million degrees Celsius!

 

Translation: China managed to create an "artificial sun". That too over 6 times hotter than the real one! But only for about 10 seconds.

 

This can be a plausible answer to the global energy crisis -> switching off our dependence on oil, transforming global geo-politics and hopefully bringing forward a sustainable, cleaner and truly renewable future.

 

And a killer movie.

 

Moving on to today’s Top 6 Business Stories through our End Of Day Wrap Up:

 

INDIA

 

Tata Group holds ‘preliminary’ meeting with Jet, no decision on the acquisition taken yet.

Tata Group confirms holding preliminary discussion over buying a stake in the beleaguered airline, however announces that the dialogue is still ongoing.

 

According to a Financial Express report, Tata Group is favouring an all-stock merger of Jet Airways with Tata-SIA-run full service airline Vistara, while eventually giving an exit to Jet’s promoter Naresh Goyal, who along with his family owns 51% stake in the airline. Gulf carrier Etihad Airways holds 24%.

 

Recently announced National Digital Communications Policy 2018, to bring c. $1.2tr to the country's GDP.

Telecom secretary Aruna Sundararajan said that according to industry estimates if implemented properly, 5G technology has a potential to double the global GDP.

 

The key objectives of the policy are provisioning of Broadband for all, creating 4 million additional jobs in the Digital Communications sector, and enhancing the contribution of the Digital Communications sector to India’s GDP, amongst others.

 

US/INTERNATIONAL

 

Facebook investors pressurize Chairman and CEO Mark Zuckerberg to resign.

The move comes after a New York Times report suggested that the social network hired Definers Public Affairs, a Republican-owned political consulting and PR firm to smear its competitors and critics.

 

Facebook stock fell 3% on Friday to $139.53, the lowest since April 2017.

 

Ex-Oracle executive Thomas Kurian to take over as Google Cloud CEO.

He will be joining Google Cloud on November 26, and work with the current CEO of Google Cloud Diane Greene through January to ensure a smooth transition.

 

A member of Oracle's Executive Committee for 13 Years, Thomas Kurian led 60 software acquisitions and Oracle's 45 Cloud data centres during his tenure. He was a key component in transforming Oracle's products with the introduction of leading suite of Cloud Services.

 

Automation Anywhere raises $300m from SoftBank Vision Fund.

The robotic process automation (RPA) software developer had earlier raised $250 million in funding, led by New Enterprise Associates and Goldman Sachs Growth Equity in July. The funding which is subject to regulatory approvals and satisfaction of other customary closing condition will bring the total financing to over $500m.

 

RPA makes use of software robots (bots) to automate routine business processes that are currently managed manually.

 

Saudi crown prince behind Khashoggi murder, confirms CIA.

The US Central Intelligence Agency has concluded Saudi's Crown Prince Mohammed bin Salman's involvement in the killing of Saudi Arabian journalist, Jamal Khashoggi.

 

This comes shortly after a Saudi prosecutor cleared the Crown Prince’s involvement in the murder.

 

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