The US's largest Ponzi scheme convict Bernie Madoff passed away on April 14 at federal prison's medical facility in Butner, North Carolina. The 82-year-old had a natural death, a year after the court denied his lawyer's request to release him considering medical reasons. Nonetheless, he pleaded guilty of running an investment scam in March 2009. Reportedly, around $13 billion of his investors have been recovered out of $17.5 billion.
Courtesy: Money control
US-based automaker General Motors (GM) has expressed resentment over the Maharashtra government's objection of GM annulling its Talegaon plant. GM warned that the rejection contradicts the state's business-friendly rapport and could discourage prospective investors. Reportedly, the government rejected GM's appeal over grievances raised by workers who demanded GM to continue production. Besides, a… read-more
Entering a new territory, Paytm will now start facilitating investments in Initial Public Offers (IPOs) in India. The company's subsidiary Paytm Money will made the process of IPO application completely digital and simple for retail investors. Paytm Money will enable investors to quickly apply and complete the application process for all the latest IPOs via their UPI ID. It also eases the process of making changes in bidding with a dedicated … read-more
Courtesy: Hindustan Times
Alibaba's Jack Ma-backed Chinese fin-tech firm Ant Group's Initial Public Offering (IPO) has attracted orders worth $3 trillion by individual and institutional investors in Hongkong and Shanghai markets. Interestingly, the bids are equivalent to the UK's GDP and higher than India's GDP. Reportedly, the IPO is expected to bag $34.5 billion, breaking the previous record of Saudi Aramco ($29.4 billion). Reportedly, the company will begin trading… read-more
Courtesy: Business World