Category Archives: Business

Jeff Bezos,Amazon: The day the company was launched, Bezos will step down as CEO, Andy will be the new boss

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The world’s richest man,Jeff Bezos, has announced the date of his resignation.

Jeff Bezos has held this position for 27 years. Jeff Bezos, who served as the CEO of Amazon, which has made a mark in the e-commerce industry, will step down on July 5.

On July 5, 1994, Amazon was founded. After leaving the post of CEO, he will become the Executive Chairman.

After Jeff Bezos, Andy will take over as CEO. According to Forbes, Bezos is currently the world’s richest man with a net worth of $ 189.2 billion.

Also Read: Bharat Petroleum Corporation Limited : BPCL may sell a part of its stake in two gas companies to relinquish promoter status

Not retiring Bezos

Bezos is not retiring, but will work on another part of the company, such as Blue Origin, The Washington Post. According to Bezos, there is a lot of potential in them.

In a letter to Amazon employees in February this year, Jeff Bezos said that he would continue to pursue important Amazon initiatives,

but now he will pursue other philanthropic initiatives such as his One Day Fund and Bezos Earth Fund,

as well as other business including space exploration and journalism We will focus on the undertakings. In the Corona era, people have shopped the most online.

The post of CEO will take over like Andy.

Andy is currently handling Amazon’s ‘cloud computing business’. Bezos mentions Andy in a letter to employees.

He has written that since the time he has been in the company, Andy has also been in the company for the same time.

Bezos wrote that he has full faith in Andy. He is a great leader. Andy Jacy’s becoming CEO of Amazon also shows how important Amazon’s cloud business is to him.

Who is like Andy?

Amazon started in 1994 and Andy joined in 1997. Andy has an MBA from Harvard Business School.

On May 2, 1997, Andy took his last exam at Harvard Business School, and two days later, on Monday, he joined Amazon.

Let us know that in the year 2006, Andy founded ‘Amazon Web Services’ and today Amazon Web Services is competing against Microsoft’s Ajayur and Alphabet’s Google Cloud.

In 2016, Andy was made CEO of Amazon Web Services.

Stay away from social media Andy stays away from social media
like Andy.

Very rarely is Andy seen using social media and that too only Twitter. Most of Andy’s time goes into innovating new things. Andy is known as a rockstar in Amazon.

On the whole, head and tail are for Amazon, like Jeff Bezos and Andy.

WazirX Mim currency will compensate the loss of those who buy Shiba Inu, know how the loss was caused to the users

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The price of the cryptocurrency Shiba Inu was listed at a higher value due to a disturbance on the WazirX Mim currency exchange.

Users had to suffer from this. Cryptocurrency Exchange will compensate users for this loss. The cryptocurrency exchange WazirX Mim currency (WazirX) has promised to make up for the loss of users

who had suffered losses in the purchase of WazirX Mim currency Shiba Inu (SHIB). Listed on the Shiba Inu exchange on 13 May 2021 at a price higher than its actual value. Users had to suffer from this.

Also Read: Surrounded by the world’s largest cryptocurrency exchange investigation

On the same day, Vitalik Buterin, the founder of the Ethereum blockchain, gave more than 50 lakh crore Shiba and 500 Ether Coins to India’s Covid-Crypto Relief Fund. Due to drawback, the time taken for the deposit and withdrawal to go live

Shiba’s price came down to less than 1 rupee within an hour of its listing. There are reports that Shiba’s price at the time of listing was $ 0.00002, which is about 0.0016 rupees. However, Wazir-X had listed the price at Rs 3.

Many users had complained of loss due to this difference in price. Wazir-Ex said that due to disturbances when the Shib went live, it took more time for its deposit and withdrawal to go live. Along with this, there was a lack of liquidity in the SHIB market. SHIB prices rose due to more people trading and lack of liquidity

Wazir-X has told that our team had soon rectified the mess. According to the new deposit coming from our customers, the price of SHIB was auto adjusted.

The founder and CEO of Wazir-X, Nischal Shetty, said in a tweet that the loss of people buying the shib at a higher price and those who do not sell it will be repaid through the AirDrop WAX. Users who take losses will get Wazir-X utility tokens during the next four months. These tokens will be equal to the losses suffered by the users.

Bharat Petroleum Corporation Limited : BPCL may sell a part of its stake in two gas companies to relinquish promoter status

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Bharat Petroleum Corporation Limited (BPCL),

Bharat Petroleum Corporation Limited which is undergoing privatization process, may sell a part of its stake in two gas companies Petronet LNG and Indraprastha Gas (IGL) to relinquish promoter status.

Sources informed that by doing this, the new owner of BPCL will not need to bring an open offer for these two gas companies.

BPCL holds 12.5 per cent in Petronet, India’s largest liquefied natural gas (LNG) importer and 22.5 per cent in gas marketing company IGL.

Also Read: Gautam Adani becomes Asia’s second richest person, know how much is his net worth

BPCL is the promoter of both the listed companies and is included in the board.

Three sources privy to the case said that as per the legal status assessed by the Department of Investment and Public Asset Management (DIPAM),

the acquirer of BPCL has to make an open offer to minority shareholders for the acquisition of 26 per cent shares in Petronet and IGL.

Will be. DIPAM is in the process of selling the entire 52.98 per cent stake in BPCL to the government.

This is because BPCL is the promoter of both the companies and since there has been a change in ownership of the promoter firm,

an open offer has to be made under SEBI (Substantial Acquisition and Control of Shares) Act, 2011.

Sources said that the need for BPCL to sell a part of its stake in both the companies and eliminate the promoter’s position would eliminate the need for an open offer.

Bharat Petroleum Corporation Limited (BPCL) is not in favor of selling stake

However, BPCL is not in favor of selling the stake and says that the promoter’s status

and leaving the post of director will significantly reduce the value of the company.

On the other hand, the government is of the view that the condition of open offer for Petronet

and IGL may deter bidders who are only eyeing BPCL’s refining and marketing business. A BPCL spokesperson declined to comment on the news.

 

Today’s History: Macdonald’s started 81 years ago, today more than 35000 outlets in 100 countries

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Macdonald’s ,Hearing the name of Mac-Chicken, Mac-Potato Tikki and Paneer Rap, it is bound to come in the mouths of fast food enthusiasts.

The number of people who like them worldwide will be in the millions of crores, but it is difficult to tell how many of these people will be informed that Macdonald’s will start the fast food chain, which will bring you such delicious fast-food on May 15.

It only happened. On May 15, 1940, two brothers, Richard and Maurice Macdonald’s , opened a small restaurant in San Bernardino, California. Today the same small restaurant has become the world’s largest fast food chain.

Also Read, Surrounded by the world’s largest cryptocurrency exchange investigation

It has more than 35,000 outlets in more than 100 countries. Apart from this, Bollywood’s Madhuri Dixit was also born on 15 May.

Today is the 135th of 2021 and May is the 15th day of the month. Special events are also recorded in today’s history.

Sukhdev Thapar, who was hanging on the noose with Bhagat Singh and Rajguru, was born on this day.

The worldwide famous Macdonald’s began on 15 May. The two brothers first opened a small restaurant in San Bernardino, California in 1940.

Which now has more than 35,000 outlets in more than 100 countries. Today, Bollywood’s Madhuri Dixit was also born. Let’s know about other events …

1242: Sultan of Delhi Muizuddin Bahram Shah’s army revolted and killed Sultan.
1817: Birth of social reformer Devendra Nath Tagore.
1907: Birth of Sukhdev Thapar hanging on the noose hanging with Bhagat Singh and Rajguru.
1923: Johnny Walker, born Indian comedian.
1935: Moscow Metro opened to the public.
1940: Two brothers Richard and Maurice McDonald started McDonald’s in San Bernardino, California.
1957: The UK Ministry of Supply announces that the first hydrogen bomb was tested under a series of tests conducted in the Pacific Ocean.
1958: Soviet Union launches Sputnik-3 rocket.
1967: Birth of Bollywood’s Madhuri Dixit.
1993: India’s ‘First Army Commander in Chief Field Marshal KM’ Cariappa passed away.
1995: Allison Gargribes became the first woman to reach the summit of Everest without an oxygen cylinder.
1999: Kuwait government gives women the right to vote in parliamentary elections.
2002: United Nations Security Council approves sanctions on Iraq.
2005: Indian aircraft landed in Canada after 20 years.
2008: Sri Lankan government extends ban on terrorist organization LTTE for two years.
2008: Manjula Sood of Indian origin became the first Asian woman to become mayor in Britain.
2020: The number of corona infections in the country reached 81,970. The death toll from infection crosses 2,649.

Surrounded by the world’s largest cryptocurrency exchange investigation, the US agency launched an investigation into a number of cases

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The cryptocurrency exchange has come under the scanner.

According to a Bloomberg report, the US Internal Revenue Service and the Department of Justice have begun investigating Binance on various matters.

The report said that expert officers investigating money laundering and tax crime are keeping a special watch on Binance’s business. Binance is the world’s largest cryptocurrency exchange

Also Read: Infosys will consider share buyback

Established in 2017, Binance is the largest cryptocurrency exchange in the world. It is incorporated in the Cayman Islands and has an office in Singapore. According to Bloomberg,

the US Commodity Futures Trading Commission (CFTC) is investigating whether Binance allowed Americans to trade on its platform by allowing them to buy derivatives linked to digital tokens.

US residents may only purchase this type of product from firms registered with the CFTC. Binance has previously stated that it prohibits Americans from conducting illegal

transactions on its website and warns that the accounts of the violators will be frozen. Suspicious of $ 756 million illegal transaction

Cryptocurrency analytics firm Chainalysis reported in 2019 that out of criminal transactions worth $ 2.8 billion, $ 756 million is Bitcoin cryptocurrency, which has been through Binance.

A Binance spokesman said the company “does not comment on specific matters or inquiries”.

In an email reply, Binance told some media platforms that the company “takes its legal obligations very seriously.

We have a strong track record of helping law enforcement agencies around the world, including the US.

According to the bill experts, in the last few months, the wild booming of many cryptocurrencies, including Bitcoin, is also being monitored by the responsible people.

Bitcoin has made a record increase in the last one year. Although crypto currency is banned in various countries including India.