In a world where social media platforms are taking over the way we consume news, a new experiment has been launched by Page 21- Trois Brief "Trois Brief," is an Instagram page that uploads three concise news posts related to business and economics news in India every day, for 30 days. The idea behind the experiment is to test if people enjoy concise news posts on Instagram and whether it can be a viable platform to expand further. "Trois" is the French word for "three," while "Brief" just means short and concise. So when these two words are combined, "Trois Brief" literally means "three news briefings" It is an attempt to cater to the younger generation who consume news in a different way than the older generation. They are more interested in bite-sized information that is easily consumable and shareable. The page aims to provide that kind of news. The posts are short, informative, and to the point. They cover a wide range of topics related to business and economics in India, including startup news, stock market updates, government policies, and economic indicators. The experiment is significant for several reasons. Firstly, it is an attempt to bridge the gap between the younger generation and the traditional way of consuming news. By providing news in a format that is more attractive to the younger generation, Trois Brief hopes to educate and inform them about what is happening in the country. Secondly, the experiment is significant because it is focused on business and economics news. The younger generation is more interested in business and entrepreneurship than the older generation. By providing news related to these topics, Trois Brief hopes to inspire and motivate the younger generation to become entrepreneurs and contribute to the growth of the Indian economy. Follow @troisbrief on Instagram for more;

NCLAT gives mixed verdict on Google’s Android case, sets aside four of CCI’s directions What happened: Google announced on Wednesday that it is evaluating its legal options following the National Company Law Appellate Tribunal’s (NCLAT) partial upholding of the Competition Commission of India’s (CCI) Android dominance ruling against the tech giant. Why it matters: Google is one of the most influential players in the Indian digital economy, with its Android operating system powering over 97% of the country’s 600 million smartphones. The ruling by the NCLAT could have significant implications for Google’s business model and practices in India, as well as for its competitors and consumers. The big picture: The NCLAT’s order is the latest development in a long-running legal battle between Google and CCI, which began in 2014 when two complaints were filed against Google for abusing its dominant position in the Android ecosystem. The CCI had found Google guilty of imposing unfair conditions on original equipment manufacturers (OEMs) and app developers, and had imposed a penalty of Rs 1,338 crore on Google in October 2022. Google had challenged the CCI’s order before the NCLAT in January 2023, but did not get any interim relief. The company had also approached the Supreme Court, which had refused to intervene and directed the NCLAT to hear the matter. Between the lines: The NCLAT has upheld the CCI’s penalty and six of its ten corrective directions on Google, but has set aside four of them that would have required Google to make major changes to its Android and Play businesses. These include allowing users to uninstall pre-installed Google apps, allowing third-party app stores on Play Store, sharing private Play Services APIs with competitors, and not restricting app distribution via sideloading. Flashback: Google had argued before the NCLAT that its agreements with OEMs and app developers were necessary to ensure compatibility and security of Android devices, and that it did not prevent users from installing or using other apps or services. The company had also claimed that it did not charge any fee for licensing Android or Play Services, and that it provided significant benefits to OEMs, app developers and consumers. By the numbers: According to a report by RedSeer Consulting, the Indian smartphone market is expected to grow from 600 million users in 2022 to 900 million users by 2025, with Android being the dominant operating system. Google Play Store is also one of the largest app distribution platforms in India, with over 400 million monthly active users and over 100 billion app downloads in 2022. What they’re saying: A Google spokesperson said in a statement: “We are grateful for the opportunity to present our case to the NCLAT and we are reviewing the order and weighing our legal options.” A CCI official told ET Telecom that the regulator was satisfied with the NCLAT’s order and that it would defend its findings if Google appealed to the Supreme Court. Catch up quick: Google is facing a legal challenge from India’s competition watchdog over its alleged abuse of dominance in the Android ecosystem. The NCLAT has upheld a penalty of Rs 1,338 crore on Google and six corrective directions, but has set aside four others that would have forced Google to make significant changes to its Android and Play businesses. Google has said it is reviewing the order and considering its legal options.

Walmart-owned fintech major PhonePe has announced the launch of Pincode, an app built on top of the government-backed ONDC platform. With the rise of 10-minute grocery delivery, Payment giant PhonePe has stepped in with its own version 'Pincode' which will be powered by the ONDC delivery system. Why it matters: The new app aims to connect digitized neighborhood stores and bring the small merchant ecosystem into the digital shopping fold. With nearly 450 million registered users on the PhonePe app, the company strategically opted to launch a new app instead of integrating it into the existing one. Pincode will offer hyperlocal shopping options in various categories, and the company aims to reach 100,000 daily orders through the app by the end of 2023. The big picture: The foray into the e-commerce space under the ONDC umbrella is an opportunity PhonePe couldn't afford to miss. As ONDC expands the consumer base for a seller, the company looks to expand Pincode to the top 10 cities in the first year of its operation. The company also aims to enter the mobility space eventually. PhonePe plans to do an IPO in the next 2-3 years. Between the lines: The launch of Pincode shows PhonePe's focus on the Indian market and its desire to expand its services to include more than just digital payments. The new app also highlights the company's interest in the small merchant ecosystem, which could have implications for the broader Indian economy. Flashback: PhonePe was founded in December 2015 and acquired by Flipkart in 2016. Walmart acquired a majority stake in Flipkart in 2018, giving it a significant ownership position in PhonePe. The company has grown rapidly and is now one of the leading digital payments companies in India. By the numbers: PhonePe has nearly 450 million registered users on its app, making it one of the largest digital payment platforms in India with a 54% market share. It recently raised $200 Million from Walmart (Parent Organisation) with a valuation of $12 Billion. In total, the company has raised over $2.4 Billion. Last year, The company reported a yearly loss of $104 Million (Rs. 789 cr) What they're saying: "We believe that Pincode has the potential to be the go-to app for customers who are looking for convenience, speedy delivery, and a hyperlocal shopping experience," said Sameer Nigam, CEO, and founder of PhonePe. Competitions: PhonePe's Pincode app is set to compete with other hyperlocal commerce apps like Binkit and Zepto, which offer 10-minute delivery options for a variety of products. However, Pincode's focus on digitizing small merchants and connecting them with consumers could potentially give it an edge over its competitors in the long run. Market value of online grocery in India was over $1.4 billion in 2019 and was expected to reach about $16 billion in 2024. Catch up quick: PhonePe, a digital payments company backed by Walmart, has launched a new hyperlocal commerce app called Pincode on the ONDC platform. The app will offer hyperlocal shopping options in various categories and connect digitized neighborhood stores with consumers. It aims to expand the app to the top 10 cities in India and eventually enter the mobility space. PhonePe has nearly 450 million registered users on its app.

Nestle is one of the largest food companies in the world, is reportedly among the final bidders vying for India's Capital Foods Pvt in a bid to bolster its presence in the country's fast-growing economy. According to sources familiar with the matter, the Swiss food giant has been in discussions regarding a potential deal with Mumbai-based Capital Foods. While the details of the potential transaction have been kept confidential, the sources suggest that any deal would likely value Capital Foods at over $1 billion. Capital Foods is a leading Indian food company known for its popular Ching's Secret brand of spicy noodles and fusion chutneys that combine "desi Chinese" flavors. The company also sells Smith & Jones cooking pastes and masala mixes. Nestle's interest in acquiring Capital Foods aligns with its strategy to expand its presence in emerging markets, especially in Asia, where the demand for packaged and processed foods is on the rise. The move would also help Nestle diversify its product portfolio and tap into the growing consumer trend towards fusion flavors that combine the best of both worlds. India is a key market for Nestle, where it already has a strong presence in categories such as coffee, chocolate, and baby food. However, the food giant faces intense competition from local and global players in the packaged food and beverage space. The acquisition of Capital Foods would give Nestle access to a new customer base and a range of popular products that have already established a loyal following in India. Capital Foods, which has been seeking a buyer for several months, would benefit from Nestle's extensive distribution network, marketing expertise, and global reach. On the other hand, Nestle would gain access to Capital Foods' well-established brands and a foothold in India's rapidly growing food and beverage market.

The Barstool Fund is a non-profit 30-day monetary fund to help small businesses such as bars, restaurants, and dry cleaners, survive shutdown orders caused by the pandemic. It was launched in December 2020 by Dave Portnoy, internet celebrity and founder of the sports and pop culture blog Barstool Sports. Portnoy contributed $500,000 of his own money to get the fund started. He has since raised more than $41 million to help over 420 local businesses survive Government-enforced shutdowns To apply for assistance from the Barstool Fund, you can follow these steps: Visit the Barstool Fund website at https://www.barstoolsports.com/the-barstool-fund. Click on the "Apply for Assistance" button on the top right corner of the page. Fill out the application form with your personal and business information, including your name, email address, phone number, and details about your business, such as your business name, location, and the impact of the COVID-19 pandemic on your business. Provide additional information, such as financial statements, tax returns, and proof of payroll, to support your application. Submit your application and wait for a response from the Barstool Fund team. You can also send an email to barstoolfund@barstoolsports.com. Please note that the Barstool Fund has limited resources and may not be able to help every applicant. The organization will review each application on a case-by-case basis and provide assistance to businesses that meet their criteria for support. What are the eligibility criteria for the Barstool Fund? To be eligible for the Barstool Fund, small businesses must be keeping an active payroll. Portnoy and others helping organize The Barstool Fund review each application to determine eligibility. Barstool Fund allows companies to apply for assistance with “needs such as rent or tax payments. Who are the biggest donors to Barstool Fund? The Barstool Fund has received donations from thousands of individuals and companies, and many of them have made significant contributions to the fund. Some of the biggest donors to the Barstool Fund include: The Penn National Gaming Company, which owns a large stake in Barstool Sports, donated $3 million to the fund. Fanatics, a sports merchandise company, donated $500,000 to the fund. The New York Yankees, through Yankee Global Enterprises, donated $250,000 to the fund. The Dallas Mavericks owner Mark Cuban donated $500,000 to the fund and has been a vocal supporter of the cause. The NFL's Tom Brady donated $100,000 to the fund.

Perfora is a digital-first oral care brand that aims to elevate everyday oral care with innovative and personalized products. The brand was launched in August 2021 by Jatan Bawa and Rishabh Jain, two entrepreneurs who wanted to disrupt the oral care industry with their vision of creating products that are safe, effective, and convenient for consumers. Perfora offers a range of products such as electric toothbrushes, water flossers, plastic-free chewing gums, teeth whitening pens, and copper tongue cleaners. The brand claims to use natural ingredients, eco-friendly packaging, and advanced technology to deliver superior oral hygiene solutions. Perfora has recently gained popularity after being featured on Shark Tank India season 2, where it bagged a deal worth Rs 80 lakh for 2.5 percent equity from three sharks - Peyush Bansal, CEO of Lenskart, Namita Thapar, executive director of Emcure Pharmaceuticals and Vineeta Singh, co-founder of SUGAR Cosmetics. The deal valued Perfora at Rs 32 crore, making it one of the most successful pitches on the show. The founders said that they will use the funds to expand their distribution network, invest in R&D and brand building. They also said that they are targeting to reach 10 million Indian consumers in the next two years with their personalized oral care solutions. Perfora sells its products through its D2C website as well as other online marketplaces like Amazon, Nykaa, Flipkart, etc. The brand also has an offline presence in over 120 retail outlets across Delhi/NCR such as Tata 1mg, Guardian Pharmacy, etc. The brand claims to have over 22,000 customers per month and a retention rate of 40 percent. Perfora has also raised Rs 2 crore in the pre-seed round and Rs 7 crore in the seed round from investors like Sauce VC, Lotus Herbal family office, etc. The brand aims to become India's leading oral care company by offering products that cater to the different needs and preferences of consumers. Perfora is an example of how a young start-up can leverage innovation, personalization, and digital marketing to create a niche for itself in a competitive market. The brand has received positive feedback from customers as well as experts for its quality products and customer service. Perfora is on its way to becoming India's first 100-crore shark tank brand.

Have you ever dreamed of driving a car that runs on sunlight and never needs to be plugged in? A car that is eco-friendly, energy-efficient, and futuristic? Well, your dream may soon become a reality, thanks to some innovative companies that are developing solar-powered cars for the mass market. Solar-powered cars are vehicles that use self-contained solar cells to convert sunlight into electricity and power themselves fully or partially. They typically have a rechargeable battery to store and regulate the energy from the solar cells and from regenerative braking. Some solar cars can also be plugged into external power sources to supplement the power of sunlight. Solar cars have been around for decades, but mostly as prototypes or experimental vehicles for solar car races. However, in recent years, some companies have started to design and produce solar cars for public roads, aiming to offer a viable alternative to conventional fossil-fuel vehicles. One of these companies is Lightyear, a Dutch startup founded by former members of a successful solar car racing team. Lightyear claims to have developed the world's first production-ready solar car: the Lightyear 0. The Lightyear 0 is a sleek sedan that boasts 5 square meters of curved solar panels on its roof and hood. These panels can add up to 44 miles (70 km) of range per day in optimal conditions, according to the company. The car also has a battery pack that can store enough energy for 388 miles (625 km) of range between charges. The company says that tests suggest that people with a daily commute of fewer than 22 miles (35 km) could drive for two months in the Netherlands without needing to plug in, while those in sunnier places like Portugal or Spain could go as long as seven months. The Lightyear 0 is not only powered by sunlight but also designed to maximize its efficiency. It has an aerodynamic shape, low-rolling resistance tires, lightweight materials and four independent electric motors. The company says that it uses three times less energy than an average electric vehicle. The Lightyear 0 is expected to start delivery by November 2023, but it comes with a hefty price tag: €250,000 ($285,000). The company says that it plans to produce more affordable models in the future. Another company that is working on bringing solar cars to the market is Aptera Motors, a California-based startup that was revived after going bankrupt in 2011. Aptera Motors has designed a futuristic-looking three-wheeled vehicle called Aptera. The Aptera has an ultra-lightweight body made of composite materials and features over 3 square meters of integrated solar cells on its surface. These cells can generate up to 40 miles (64 km) of range per day under ideal conditions. The vehicle also has a battery pack that can provide up to 1000 miles (1609 km) of range on a single charge. The company claims that it is the most efficient vehicle ever made. The Aptera has two electric motors on its front wheels and can accelerate from zero to 60 mph (97 km/h) in just 3.5 seconds. It also has advanced features like self-driving technology, adaptive cruise control, and touch-screen controls. How to get one? If you are interested in owning an Aptera car, you can reserve one now on their website with a refundable deposit starting from $100. You can customize your car according to your preferences and choose from various options such as color scheme (black/white), wheel size (15/16 inch), motor configuration (FWD/AWD/3WD), battery size (25/42/60/100 kWh), solar package (standard/full), safety package (standard/enhanced), off-road package (standard/enhanced), pet package (yes/no), camping package (yes/no), etc. The prices range from $25k for FWD with a standard solar package & safety package & no extras & smallest battery size up to $50k+ for AWD with full solar package & enhanced safety package & all extras & largest battery size. The company expects to start production in late 2023 or early 2024 at their facility in San Diego California USA, but they have not announced an official delivery date yet.

Silicon Valley Bank (SVB) was one of the largest and most influential banks in the United States, especially for the technology sector. It had more than $100 billion in assets and served over 30,000 clients, including start-ups, venture capitalists, private equity firms and corporations. It was also a major player in global markets, with offices in 15 countries. However, on March 10, 2023, SVB collapsed after a bank run that drained its liquidity and eroded its capital base. It was taken over by the Federal Deposit Insurance Corporation (FDIC), which sold its assets and liabilities to JPMorgan Chase for $2.5 billion. The failure of SVB was the second-largest bank failure in U.S. history and the largest since the 2008 financial crisis. How did SVB go from being a successful and respected bank to a bankrupt institution in a matter of days? Here is a timeline of events that led to its downfall: - February 28: SVB reports its fourth-quarter earnings for 2022. It posts a net loss of $1.2 billion, mainly due to loan losses and write-downs related to its exposure to several troubled tech companies, such as Theranos, WeWork and Uber. It also reveals that it has received subpoenas from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) regarding its accounting practices and lending standards. - March 1: Moody's downgrades SVB's credit rating to junk status, citing its deteriorating asset quality, weak capital position and regulatory investigations. It warns that SVB may need to raise additional capital or sell some of its businesses to restore its financial health. - March 3: The Wall Street Journal publishes an investigative report that alleges that SVB engaged in fraud and misconduct in its lending operations. It claims that SVB inflated the valuations of some of its tech borrowers, falsified their financial statements and colluded with them to hide their losses. It also accuses SVB of bribing some regulators and auditors to overlook its violations. - March 4: The FDIC issues a cease-and-desist order against SVB, requiring it to stop making new loans until it improves its risk management practices and internal controls. It also orders SVB to submit a plan within 30 days on how it will raise at least $10 billion in capital or find a merger partner. - March 6: Several large depositors withdraw their funds from SVB amid growing concerns about its solvency and reputation. These include some prominent tech companies such as Google, Facebook and Amazon, as well as some institutional investors such as BlackRock, Vanguard and Fidelity. The bank run accelerates as more customers lose confidence in SVB's ability to honor its obligations. - March 7: SVB announces that it is exploring strategic alternatives to address its liquidity crisis, including selling some of its assets or businesses or seeking a merger with another bank. It says that it has hired Goldman Sachs as its financial advisor and Sullivan & Cromwell as its legal counsel. - March 8: Bloomberg reports that JPMorgan Chase is interested in buying some or all of SVB's assets at a steep discount. However, it says that JPMorgan is facing regulatory hurdles due to antitrust concerns and potential legal liabilities stemming from SVB's scandals. - March 9: The Federal Reserve announces that it will provide emergency funding to SVB through its discount window facility until it finds a buyer or stabilizes itself. However, it says that this is only a temporary measure and not an endorsement of SVB's viability or soundness. - March 10: Despite receiving support from the Fed, SVB was unable to stop the outflow of deposits, leading to a severe cash crunch that jeopardized its operations and solvency. As a result, the FDIC declared SVB insolvent and took over its management and assets. The FDIC then sold these assets to JPMorgan Chase in an all-cash deal worth $2.5 billion, which covered all of SVB's deposits and most of its loans. The collapse of Silicon Valley Bank marks one of the biggest shocks for the U.S banking system since the global financial

Recently, the bank concluded sale of stressed assets to JC Flower and has since seen slow but gradual growth in business strategy but the question as to the banks shares remains post the lock in period expiry. What is happening: Amid new reports of its largest shareholder State Bank of India looking to sell stake in the private lender as soon as its 3-year lock-in period expires mid March, Yes bank bank once again finds itself in a precarious position. Why it matters: post the SBI management taking over the reins, Yes bank’s fortunes improved marginally. Further, the Finance Ministry’s mechanism to handle bad loans still under contemplation is also likely to help YES Bank in the medium term so in short the future for Yes bank seems uncertain yet positive. Backdrop: Recently, the bank concluded sale of stressed assets to JC Flower, which has led to substantial reduction in the GNPA to 2 per cent. The big picture: At present, the stock trades at 1.3 times its expected FY23 adjusted book value. This statistic seems to factor in recent developments along with guidance of improvements. The numbers: Where the stock headed is a Rs 11,000-cr question for its 47.28 lakh retail investors. Retail investors owned Rs 13,232 crore worth shares at the end of December quarter compared with Rs 10,052 crore as of September 30, 2022. A last count, the 22.34 per cent stake they held in the private lender amounted to Rs 10,863 crores. What is being said: ICICIdirect stated on the issue that "We expect YES Bank share prices to remain volatile as the lock-in (prohibiting shares sale) ends tentatively in a week’s time by 13th March 2023 as cash transfer happened on 14th March 2020." Read in short: With rumours of SBI backing out and Yes bank's recent business improvements, the question on repayment of creditors whilst still unanswered, seems to have settled up.

Stripe was one of the most valuable private companies in the world, with a valuation of over $95 billion. The online payment processing company has been around since 2010, and it has seen tremendous growth in the last decade. The company is reportedly in talks with investors to raise $4 billion at a valuation of about $55 billion, which is lower than its previous valuation of $95 billion. These funds will be used to enable veteran employees to sell stock that is now restricted so that it can pay the taxes it will incur by doing so, according to the report. The latest capital raise from investors including Thrive Capital reported by TOI So you might be wondering why Stripe hasn't gone public yet, Here are a few reasons: 1. Avoid Regulatory Scrutiny It wants to avoid the regulatory scrutiny and disclosure requirements that come with being a public company. Going public would mean that Stripe would have to disclose more information about its operations, finances, and customer data, which could potentially compromise its privacy and security. As a private company, Stripe can keep this information confidential, which is essential for maintaining the trust of its customers. 2. Unfavorable Market Conditions In 2021, Stripe was rumored to go public in late 2022 but market sentiment regarding loss-making companies was very negative, with rising inflation, interest rates, and economic uncertainty. This can lead to lower investor confidence and reduced funding opportunities for fintech startups. 3. Growing Competition When Stripe was first started it only competed with a handful of companies with little to no market share but today things are very different, Fintech has quite grown and many new players have emerged. Some of the big competitors of Stripe are: PayPal: The largest name in the online payment industry. It also owns Venmo. Square: A financial service and digital payments company that provides point-of-sale systems, card readers, e-commerce tools, and more. It owns Cash App. Adyen: It is a European payment platform that supports over 250 payment methods across 200 countries. According to sources, Stripe has a market share of 22.47%, PayPal has 30.52%, Adyen has 11.26% and Square has 0.09% in payment management as of February 2023. Future of Stripe Stripe revenue has seen steady increases year on year. The company makes its money from taking a cut of transactions, 2.9% + $0.30 per successful charge for most cards. It also charges extra for international transactions and currency conversions. Its fees are lower than its main competitor PayPal. According to the data shared with potential investors, Stripe’s payment volume increased 25% in 2022 after having grown 60% in 2021 — a reflection of the slowdown in the rate of eCommerce growth after the lifting of pandemic-era restrictions, the report said. Overall, Stripe is well-positioned for continued growth in the future, thanks to its innovative products, strong brand, and expanding market opportunities. However, it will need to continue to stay ahead of the competition and navigate regulatory challenges in order to maintain its position as a leader in the online payments industry.

The jewelry auction will take place on March 25 as per the court-appointed liquidator to handle the bankruptcy proceedings. What is happening: Clearing a claim of nearly $1.5 billion, a court-appointed liquidator in India will start auctioning precious metals and gemstones belonging to Firestar Diamond International Pvt., owned by former tycoon Nirav Modi. Why it matters: Nirav Modi has been absconding from the country since way back in 2018 while major offices, factories, and all other major assets of the corporate debtor had been attached by the Enforcement Directorate. This move comes in light of Modi appealing his extradition. Backdrop: Indian government accused Modi of defrauding the country’s second-largest bank, Punjab National Bank, of around $2 billion using credit guarantees for his diamond business. The big picture: The liquidator has engaged the Gemological Institute of India, an industry group that provides certification services, to gauge the correct value of the gold and diamond items once owned by Modi. The sale of gold, platinum, and diamond jewelry will take place through e-auction on March 25, as per the notice issued. What the numbers say: The reserve price of the items to be auctioned will be declared on the auction date. Pulling off one of the biggest bank frauds in the country, Nirav Modi and his uncle Mehul Choksi created a complex web of deception through fraudulent Letters of Undertaking (LoUs) to siphon off ₹14,000 crores from state-owned Punjab National Bank in connivance with some bank officials. What is being said: "This will be the first auction of precious metals and stones” released by the government agency, which probes white-collar crimes. Read in short: Former Diamantaire Nirav Modi’s gems go on sale for approx $1.5 billion.

The National Company Law Appellate Tribunal (NCLAT) on Tuesday concluded its hearings over the petition filed by lenders of Reliance Capital presently going through the insolvency resolution process. What is happening: NCLAT was hearing a petition filed by Vistra ITCL (India), one of the lenders of Anil Ambani-promoted Reliance Capital, challenging an order of the NCLT which restricted further auction of the bankrupt firm. Backdrop: Torrent Investments had filed a plea on January 9, requesting the tribunal to quash the lenders' plan to hold a fresh auction for the takeover of RCap. Later, the Hinduja group firm also filed the petition challenging the NCLT order. The big picture: In the Reliance Capital matter, the challenge mechanism was concluded by the lenders on December 21, 2022, with Torrent's bid of Rs 8,640 crore being declared as the highest bid. What else: Senior advocate Rohatgi contended that IBC is not a debt recovery platform and the Committee of Creditors should look beyond their individual recovery. The numbers: Reliance Capital has a consolidated debt of about Rs 40,000 crore. Read in short: Reliance Capital going through multiple bids and challenges was finalised to be acquired by Torrent which was questioned in the court to which the NCLT replied in support of Torrent.