Randy Suess, Computer Bulletin Board Inventor, Dies at 74 Randy Suess, a computer hobbyist who helped build the first online bulletin board, anticipating the rise of the internet, messaging apps and social media, died on Dec. 10 in Chicago. He was 74. His death, at a hospital, was confirmed by his daughter Karrie. source:
Uber Founder Travis Kalanick Leaves Board, Severing Last Tie SAN FRANCISCO — Travis Kalanick, the founder and former chief executive of Uber, has stepped down from the company’s board of directors, severing his last tie with the company. Mr. Kalanick, 43, started Uber in 2009 with a co-founder, Garrett Camp, and grew it from a small start-up to a behemoth that defined the ride-hailing industry. The company went public in May and has since struggled. Investors forced Mr. Kalanick to resign as chief executive in 2017, after a series of privacy scandals and complaints of discrimination and sexual harassment at the company. source:
Sasikala used banned notes to buy malls: IT Dept to Madras HC The Income Tax Department on Friday informed the Madras High Court of having passed Assessment Orders on proceedings initiated by it against former Chief Minister Jayalalithaa’s close aide V.K. Sasikala for having reportedly purchased a resort, two shopping malls, a software company, a sugar mill, a paper mill and 50 windmills, all worth several hundred crores of rupees, using demonetised ₹500 and ₹1,000 currency notes after November 8, 2016. source:
Herro Says Healthy Markets Rely on Free-Market Capitalism David Herro, chief investment officer for international equities at Harris Associates, discusses the macro risks in the decade ahead and his view that healthy markets depend on well-regulated, free-market capitalism. Herro speaks on “Bloomberg Surveillance.” source:
Sundar Pichai gets whopping $242 million stock package in new role Alphabet Inc’s newly instated Chief Executive Officer Sundar Pichai would receive a hefty $240 million in performance-based stock awards over the next three years, the highest ever promised to any executive of the search giant. Pichai would also take home $2 million in annual salary starting 2020, according to a regulatory filing on Friday. That compares with a $1 salary received by Larry Page in the same role last year. source:
Anil Ambani’s wealth shrinks by 73% to Rs 970 crore in six months Industrialist Anil Ambani’s equity wealth has seen steep value erosion as it crashed by 73.43 per cent in the last six months to just Rs 970.10 crore ($ 136.6 million) on Wednesday, as against Rs 3,651 crore on June 11. At the peak of his fortunes in 2008, Ambani was ranked the sixth richest man in the world with a wealth of $42 billion. It is thus hard to believe that the value of Ambani’s equity– after excluding pledged shares–stands at just Rs 144.60 crore ($ 20.4...
Uday Kotak may pare stake in Kotak Mahindra Bank Uday Kotak is planning to pare down his stake in Kotak Mahindra Bank, CNBC-TV18 has learnt. According to the sources, talks are on with large foreign institutional investors for promoters’ stake sale to pare down anywhere between 5 percent and 10 percent in the bank. Kotak is trying to close the deal as soon as possible and the it may be completed by the year-end or so, they say. According to the RBI regulation, a promoter can hold up to 20 percent stake. As of September, Kotak held close to 30...
Tata Sons chairman N Chandrasekaran: ‘We need accountability and supervision; we don’t need suspicion’ Tata Sons Chairman N Chandrasekaran was the guest at the Express Adda in Mumbai last week. He spoke with Anant Goenka, Executive Director, The Indian Express Group, and Sunil Jain, Managing Editor, Financial Express, on his book Bridgital Nation, the economic slowdown and how the liquidity problem is largely behind us. source:
We are killing telecom industry in a way that is not conducive: Sunil Bharti Mittal Sunil Bharti Mittal, one of the Billionaires of the country spoke about the condition of the telecom industry. He spoke about how a weird combination of high consumption and rock-bottom tariffs have been killing the telecom industry lately. He also speaks about how TRAI regulators need to seep in between to strike a proper balance of needs for protecting investments and consumer interest. We can wait for things to get better now. source:
Why is Stock Market Going up and Economy Going Down? Former CEA Arvind Subramanian Explains Ahmedabad: Former Chief Economic Adviser Arvind Subramanian said on Thursday that it was a “puzzle” for him that stock markets are buoyant while the economy is sinking. Subramanian, the first CEA under the Narendra Modi government, was at the Indian Institute of Management Ahmedabad (IIMA) for the inauguration of ‘NSE Centre for Behavioral Science in Finance, Economics and Marketing’. “I hope that the first behavioural economics project of this Centre would be to explain to me why as the economy is going down and down...
