Adani takes over Mumbai Airport✈
Musk trial resumes, InfoEdge falls 5%.
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Daily soap episode from Muskland📺
Tesla CEO Elon Musk was at a rare court trial where a bunch of high-profile Tesla shareholders are suing his ass — for allegedly acquiring SolarCity for $2.6 billion in 2016, only because the company had to be saved from bankruptcy, enriching the Musk family, despite no direct value added to Tesla.
Tesla CEO Elon Musk headed back to court for a second day in a case revolving around his company’s acquisition of SolarCity. If Elon Musk loses the lawsuit, he could have to pay $2 billion out of his own pocket. If not, man gets lauded for standing up to “evil” shareholders. Either way, headlines are guaranteed!
Adani becomes India’s largest airport operator🛫
Adani Group Chairman Gautam Adani announced on July 13 that the Adani Group has taken over management control of the Mumbai International Airport from the GVK Group. The Adani Airport Holdings Limited (AAHL) took over the management control of MIAL from the GVK Group, following a MIAL board meeting earlier on July 13. AAHL now owns 74% of MIAL. The culmination of the deal makes the Adani Group India’s biggest private airport operator.
Gautam Adani said: "We are delighted to take over management of the world-class Mumbai International Airport. We promise to make Mumbai proud."
Hot Shorts ⚡
Google Meet will now enforce a 60-minute limit on group video calls for free users. The video calling service, when it was made available to all users last year instead of just Enterprise or Education customers, had no time limit on calls for any number of participants. Google Workspace users will now have to upgrade to a paid account to host unlimited group video calls with three or more participants.
MPOWER Financing, which provides education loans for students to study in North America, has raised $100 Mn from Tilden Park Capital Management and ETS Strategic Capital in venture funding. MPOWER aims to democratize education by reducing financial barriers for high-promise students from India and other countries.
Info Edge shares fall 5% ahead of Zomato IPO 🔻
Shares of Info Edge (India) fell almost 5 percent in intraday trade on BSE on July 13 a day ahead of the Zomato IPO's opening for public subscription. The stock eventually closed 4.52 percent lower at Rs 5,156.10 on BSE. Info Edge holds a stake of about 18.55 percent in the food delivery platform. Zomato's Rs 9,375-crore public offer comprises fresh issuance of equity shares of Rs 9,000 crore, and an offer for sale of Rs 375 crore by existing selling shareholder Info Edge.
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They have a problem for every solution."
Albert Einstein
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