Tesla delivers record 241,300 cars worldwide in third quarter
Tesla said it delivered 241,300 electric cars worldwide during the third quarter, setting a new record for the company. The latest results were higher than Tesla’s previous record for 201,250 vehicles in the second quarter. In September, CEO Elon Musk had urged his employees in an email to “go super hardcore” to “ensure a decent Q3 delivery number”.
Asia IPOs raise record $56 billion led by South Korea, India in September quarter
Asia had its best third quarter on record for initial public offerings (IPOs) as the region raised $56 billion led by large deals in markets like South Korea and India, Bloomberg reported. IPOs by game developer Krafton and mobile-only bank Kakao Bank led third-quarter volumes to $10.4 billion in South Korea. In India, food delivery platform Zomato alone raised $1.3 billion.
Reliance Industries forms new unit in UAE for trading oil, petroleum products
Mukesh Ambani-led Reliance Industries (RIL) said it has incorporated a wholly-owned subsidiary Reliance International Limited (RINL) in Abu Dhabi Global Market, United Arab Emirates. The firm added that it invested $1 million (₹7.42 crore) in cash in 1,000,000 equity shares of RINL. The subsidiary will undertake activities relating to trading of crude oil and petroleum products.
Billionaire Birla Grasim Industries gets ₹8,334 crore income tax demand
Billionaire Kumar Mangalam Birla-led Grasim Industries said the Income Tax Department has demanded ₹8,334 crore as capital gains tax for assessment year 2018-19. The tax demand is related to Grasim merger with Aditya Birla Nuvo and Aditya Birla Financial Services. The company said it’ll take “appropriate action” against the order which “is against the spirit of tax laws”.
SoftBank to sell stake in OYO worth over $175 mn: OYO IPO filings
Japanese conglomerate SoftBank will sell its stake in OYO worth $175 million, the startup said in an IPO filing. Besides SoftBank, Southeast Asian ride-hailing firm Grab, China Lodging Holdings and Hero Group’s Sunil Munjal will be divesting their stakes as well. However, some other OYO investors, including Airbnb, Microsoft, Lightspeed Ventures will not be diluting their shares.
Amazon’s Whole Foods Co-founder to retire in 2022 after 44 years
Amazon-owned grocer Whole Foods co-founding CEO John Mackey will retire next year and step down from his role, after 44 years of being at the firm. Whole Foods’ present COO, Jason Buechel, will become the new CEO after Mackey’s retirement. Amazon had acquired Whole Foods in 2017 for $13.7 billion.
WhatsApp adds Indian rupee symbol to chat box for digital payments
WhatsApp said it has started adding the rupee symbol (₹) in its chat composer to make sending payments using the app easier for users in India. WhatsApp also announced that its camera icon can now scan any QR code to enable paying at over 2 crore Indian stores. WhatsApp payments services were launched in India in November 2020.