PayPal to acquire Japan’s buy now, pay later firm Paidy for $2.7 billion
US-based PayPal has announced that it will acquire Japan-based “buy now, pay later” provider Paidy in a $2.7 billion largely cash deal. After the acquisition, Paidy will continue to operate its existing business and maintain its brand. Its Founder and Executive Chairman Russell Cummer and President and CEO Riku Sugie will continue to hold their roles in the company.
Berkshire Hathaway gains $2 bn from EV maker BYD’s stock in 2021
Warren Buffett’s Berkshire Hathaway has gained $2 billion from Chinese electric vehicle (EV) maker BYD’s stock this year as it has surged about 30%. The company had initially bought 225 million shares of BYD in 2008 for $232 million. The value of its stake currently stands at $8 billion, representing a 3,400% gain on its investment in under 13 years.
Dish TV share rises 12% after Yes Bank demands to remove its MD, directors
Dish TV’s shares surged 12.77% to ₹15.54 on the BSE after Yes Bank demanded the removal of the company’s MD and four directors. The bank had said that the company’s board is not acting in line with good corporate governance standards. Yes Bank, which holds 25.63% stake in Dish TV.
HDFC Life to seek shareholders’ nod for share issue to Exide Industries
HDFC Life Insurance will seek shareholders’ approval on September 29 for the issuance of preference shares to Exide Industries in the deal to acquire Exide Life. Under the deal, HDFC Life will acquire 100% share capital of Exide Life for ₹6,687 crore. After completion of the transaction, Exide Industries will hold a 4.1% stake in HDFC Life.
Bitcoin falls 17% to $43,050 as El Salvador’s crypto rollout falters
The price of Bitcoin plunged as much as 17% to $43,050, recording its lowest level in a month. This came amid news that El Salvador’s cryptocurrency rollout was faltering. The government had to disconnect the digital wallet to cope with demand and sort out technical glitches. El Salvador is the first country to adopt Bitcoin as legal tender.