Asmita Dey
Article
Delaware Supreme Court rules Byju’s defaulted on $1.2 billion term loan
Sep 24, 2024The Delaware Supreme Court has confirmed that Byju’s is in default on a $1.2 billion loan, allowing US lenders to take control of its unit, Byju’s Alpha. The court validated the lenders' move to appoint Timothy Pohl as sole director, emphasizing that Byju’s must be accountable for its defaults.
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Oyo to acquire G6 Hospitality from Blackstone Real Estate in a $525 million deal
Sep 21, 2024OYO, a travel tech platform, announced its agreement to acquire Motel 6 and Studio 6 brands from Blackstone Real Estate for $525 million. The acquisition is set to close in the fourth quarter of 2024. OYO aims to enhance these brands using its technology and marketing expertise while maintaining their iconic status.
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Amazon executive Samir Kumar may replace Manish Tiwary as India head
Sep 9, 2024Samir Kumar is poised to take over as Amazon's India head following Manish Tiwary's resignation after eight years. Currently vice-president, international consumer based in Seattle, Kumar has been with Amazon for over two decades. This leadership change occurs as competition intensifies from firms like Meesho and Flipkart in the Indian market.
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IPO-bound Swiggy's losses over Rs 2,000 crore in FY24; revenue up 36% y-o-y
Sep 5, 2024Swiggy's FY24 financial report indicates a substantial reduction in net losses by 44%, bringing them down to Rs 2,350 crore. Revenue from operations saw a notable increase of 36%, reaching Rs 11,247 crore. The company credits this growth to higher demand and supply factors and the rapid expansion of its quick commerce business Instamart.