Verizon case may be delaying Starlink's satcom licence, too
India cautious after it learnt that Verizon had investment from Pakistan and Bangladesh . Starlink, owned by Elon Musk, is facing delays in obtaining a license for satellite broadband services in India, with Verizon communications partly to blame, according to sources. Starlink's application is hindered by mandatory ownership disclosure rules. Key Points
Economic TimesEnser communications IPO: Issue subscribed 3.23x on day 2, retail category fully booked; check GMP and other details
The Enser communications IPO was subscribed over 3.23 times on the second day of bidding. The SME IPO received 74,60,000 shares against offered 23,10,000 shares. Key Points
mintIndia's Tata communications posts 59% profit slump on higher costs
Indian network services provider Tata communications (TATA.NS) reported a 59% drop in second-quarter profit on Thursday, weighed down by higher costs. Key Points
ReutersTDSAT asks DoT not to take coercive action against Tata Comms over past LF dues
The Telecom Disputes Settlement & Appellate Tribunal (TDSAT) has instructed the Department of Telecommunications (DoT) not to take any coercive action against Tata communications regarding a demand for a licence fee of Rs 6,159 crore ($830 million) for past years. The demands have been challenged by Tata communications and the TDSAT has directed the DoT to refrain from action until the next hearing. Key Points
Economic TimesIndia's Tata communications posts 30% slump in profit as expenses weigh
Indian network services provider Tata communications (TATA.NS) reported a 30% slump in first-quarter profit on Wednesday, hit by higher interest costs and lower foreign exchange gains. Key Points
Reuters
Stocks in news: Infosys, Wipro, Tata Chemicals, Prestige Estates, Tata Communications
Prestige Group announced its latest acquisition of 62.5 acres of prime land in Indirapuram Extension, NCR. This strategic acquisition marks a significant milestone for Prestige Group as it expands its footprint in the dynamic real estate market of NCR. Key Points
Economic TimesPaytm shares hit fresh upper circuit limit; jump 5 pc
New Delhi, Feb 27 (PTI) Shares of One97 communications Ltd, the owner of the Paytm brand, jumped another 5 per cent on Tuesday to hit the highest trading permissible limit for the day. The stock climbed 4.98 per cent to Rs 449.30 — its upper circuit limit — on the BSE even after a muted […] Key Points
ThePrintConsolidated communications shareholder Wildcat opposes $3.1 bln take-private deal
Wildcat Capital Management, a top shareholder in Consolidated communications Holdings (CNSL.O), said on Friday it plans to vote against its $3.1 billion takeover by an investor consortium, as it undervalues the broadband services provider. Key Points
ReutersUS FCC chair proposes to restore net neutrality rules
U.S. Federal communications Commission chair Jessica Rosenworcel on Tuesday said she would move quickly to reinstate landmark net neutrality rules rescinded under former President Donald Trump. Key Points
ReutersWarren Buffett’s Berkshire books Rs 630-crore loss after holding Paytm shares for 5 years
According to Paytm parents red herring prospectus, Berkshire had acquired 17,027,130 shares of the company and the average cost of acquisition was Rs 1,279.70 a share. Berkshire then sold a part of its holding in the initial public offering of One 97 communications in 2021. Key Points
Economic Times
JPMorgan mistakenly deleted 47 million records, SEC alleges
JPMorgan declined to comment. The bank didn’t admit to or deny the regulator’s allegations. Key Points
FinancialexpressIsrael says it has eliminated Hezbollah communication chief in Beirut
Sakafi was a senior Hezbollah terrorist, who was responsible for the group's communications unit since 2000. He invested significant efforts to develop communication capabilities between all of Hezbollah's units. Key Points
India TodayAll you need to know about Centre's ‘Chakshu’ and ‘DIP’ platforms to combat online fraud
The Chakshu portal introduced under the Sanchar Sathi initiative allows users to report fraudulent activities, preventing losses of approximately ₹1000 crore. ₹1008 crore frozen in bank accounts linked to fraud. Key Points
mintSoftBank sells another 2% stake in Paytm via open market
SoftBank reduces stake in Paytm to 5% by selling shares in open market transactions. SVF India Holdings disposed of 12,706,807 equity shares of One97 communications Ltd between Dec 19, 2023 and Jan 20, 2024. SoftBank's stake in Paytm was previously 7.01% and is now reduced to 5.06%. SoftBank plans to completely exit the company. Paytm shares were down 1% following the announcement. Bank of America and Goldman Sachs raise target prices on Paytm stock after strong Q3 performance. Key Points
Economic Times'Obscene' waste of money: Italian tourism video ridiculed for featuring another country
The official Italian tourism video was mocked by critics and on social media for using footage of Slovenia. Produced by the Armando Testa communications group, the video is a part of a 9-million euro ($9.91 million) campaign. Key Points
India Today
Today’s Cache | Google’s deleted chats, Microsoft’s antitrust remedies, and Amazon’s latest layoffs
Google claimed in court filings that it did not intentionally destroy communications records deemed to be potential evidence by the U.S. Department of Justice in an antitrust lawsuit over its search business Key Points
The HinduPaytm shares fall for 3rd day; hit lower circuit limit
New Delhi, Feb 5 (PTI) Shares of One97 communications Ltd, which owns Paytm brand, fell by another 10 per cent to hit its lower circuit limit, as investors continued to dump the stock following the RBI’s crackdown. The stock tanked 10 per cent to Rs 438.35 — its lowest trading permissible limit for the day […] Key Points
ThePrintGoogle, Symphony unveil AI JV to help banks manage voice calls compliance risk
Symphony, the markets infrastructure and tech firm, is teaming up with Google (GOOGL.O) to ramp up its voice analytics offering to banks and investment firms, executives told Reuters, as regulators get tough on communications compliance. Key Points
ReutersColombia eyes raising $499 mln in cell service auction
Colombia hopes to raise up to $499 million in an auction to award four blocks to operate 5G cellular data services in the country on Dec. 20, the Minister of Information and communications Technologies said on Wednesday. Key Points
ReutersCyclone Mocha floods homes, cuts communications in western Myanmar, at least 700 injured
Rescuers early May 15 evacuated about 1,000 people trapped by seawater 3.6 meters (12 feet ) deep along western Myanmar’s coast after a powerful cyclone injured hundreds and cut off communications in one of Asia’s least developed countries. Key Points
The Hindu/cloudfront-us-east-2.images.arcpublishing.com/reuters/IK2VM6MIDRPO7FX5DKF6D4CSJU.jpg)
Exclusive: Bonderman's Wildcat seeks to thwart $2.9 bln Consolidated communications deal
Wildcat Capital Management LLC, which manages the wealth of buyout firm TPG Inc's (TPG.O) co-founder David Bonderman, has asked Consolidated communications Holdings Inc (CNSL.O) to reject an offer to take the company private for $2.9 billion including debt. Key Points
ReutersElection Commission censures BJP's Dilip Ghosh, Congress' Supriya Shrinate for derogatory comments against
The Election Commission censured BJP's Dilip Ghosh and Congress' Supriya Shrinate for making derogatory remarks against women, violating the Model Code of Conduct. Their election communications will be closely monitored. Key Points
Economic TimesFacebook & Instagram suffer massive outage; issue seems to be resolved
Meta's Facebook, and Instagram have experienced outages in India, with nearly 15,381 people reporting Facebook outage and over 19,200 on Instagram. Meta communications Director Andy Stone confirmed the company is working on the issue. Key Points
Economic TimesPaytm & its payments bank discontinue inter-company agreements to reduce dependencies
Paytm didn't say what agreements were being terminated. Payments bank agreed to simplify shareholders’ agreement to 'support Paytm Payments Bank‘s governance, independent of shareholders'. Key Points
ThePrintSamsung to join alliance to lead AI-powered 6G network tech
Samsung Electronics on Monday said that it participated in the US chip giant Nvidia-led alliance in a bid to lead the next-generation 6G network... Key Points
The Tribune India
Paytm shares tank 10% to extend losses for 2nd day
Shares of Paytm’s parent company One97 communications tanked 10 per cent on Wednesday after reports claimed that a preliminary inquiry has been... Key Points
The Tribune IndiaVerizon announces Netflix, Max streaming bundle for customers
Verizon communications (VZ.N) said on Monday it would offer streaming subscriptions to Netflix (NFLX.O) and Warner Bros Discovery-owned (WBD.O) Max platforms as a bundle to its customers. Key Points
ReutersBerkshire Hathaway exits Paytm; sells 2.46 pc stake for Rs 1,371 crore
New Delhi, Nov 24 (PTI) Billionaire Warren Buffet-backed Berkshire Hathaway Inc on Friday divested its entire 2.46 per cent stake in Paytm’s parent company One97 communications for Rs 1,371 crore through an open market transaction. Berkshire Hathaway Inc through its affiliate BH International Holdings sold more than 1.56 crore shares of fintech company Paytm on […] Key Points
ThePrint62% employees say they would allow tech companies to track chats or emails if they get WFH
A survey showcase a notable distinction in the perspectives of employees who have the opportunity to work from home part-time versus those who commute to the office daily. Those working remotely part-time were more in support of allowing their employers to track emails, chat messages, and virtual meeting transcripts. Key Points
India TodayTrai imposes over Rs 1 cr penalty on Voda Idea for failure to curb pesky calls, SMS
New Delhi, Sep 29 (PTI) Telecom regulator Trai has imposed over Rs 1 crore penalty on Vodafone Idea for failure to curb pesky calls and SMS, the company said on Friday. The Telecom Regulatory Authority of India (Trai) levied the fine on September 28, Vodafone Idea (VIL) said in a regulatory filing on Friday. “Failure […] Key Points
ThePrint
Paytm Q1FY24: Consolidated net losses decline by 44.5% y-o-y but widen sequentially
India Business News: One 97 communications which owns finetch major Paytm reported a 44.5% year-on-year decline in consolidated net losses in the June quarter to Rs 358.4 Key Points
Times Of IndiaDow, S&P 500 eye higher open as regional banks rise; key inflation data awaited
Dish Networklost 4.5% after the pay TV and wireless communications service provider reported first-quarter revenue below estimates. Key Points
FinancialexpressRogers-Shaw M&A approval raises prospects of political meddling in Canadian dealmaking
Canada's move to clear Rogers communications Inc's C$20 billion ($15 billion) bid for Shaw communications Inc after two years should have been a balm to markets. Instead, dealmakers are worried about potential government intervention in mergers involving other sensitive sectors. Key Points
ReutersBankman-Fried while out on bail can only use 'non-smartphone' without internet
Limiting the FTX founder Sam Bankman-Fried’s access to a device that gained popularity when he was about three years old is the latest development in a fight over his communications. The functions on his phone will be restricted to voice calls and SMS text messages. Key Points
Hindustan TimesReliance group’s Tony Jesudasan dies at 71
Tony Jesudasan, a key lieutenant of Anil Ambani’s Reliance group and a high-profile corporate communications and corporate affairs professional, died early on Monday morning. He was 71. Key Points
The Tribune India