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Uber Drivers are workers, not independent contractors, rules the United Kingdom’s Supreme Court unanimously

In an inviting move, United Kingdom's Supreme Court has decided that ride-hailing application Uber should consider its drivers as "laborers" as opposed to independently employed workers for hire, entitling the Uber drivers with a lowest pay permitted by law and occasion pay, reports RHEA BINOY. THE United Kingdom's Supreme Court has decided that the ride-hailing application firm Uber should arrange its drivers as laborers as opposed to independently employed, which will ensure the Uber drivers with a lowest pay permitted by law and occasion pay. It dismissed the contention of Uber that drivers are self-employed entities who work under agreements made with clients and don't work for Uber. The decision is set to leave Uber confronting a strong pay bill, and have more extensive ramifications for the organization. Previous Uber drivers James Farrar and Yaseen Aslam, who had initially won the work council against Uber in October 2016, revealed to BBC that they were "excited and soothed" by the decision. Yaseen Aslam, who is the President of the App Drivers and Couriers Union told BBC, "I think it is a gigantic accomplishment such that we had the option to face a monster."
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JessicaDavid

Kabir Singh producer Murad Khetani beats Karan Johar; pays approx. 6 crores for Master rights

Since the time of the achievement of Kabir Singh, maker Murad Khetani has been keeping watch to get some incredibly unique content. After Namak Halal, Khetani has now formally packed away the change privileges of the new blockbuster Master. The Vijay and Vijay Setupathi starrer gatecrashed film industry records and notwithstanding a half inhabitance limitation, figured out how to round up gigantic moolah in the cinematic world. Strangely, we hear that few makers had arranged to sack the change rights to the first. A source advises us, "Karan Johar was additionally attempting to get the rights to make Master in Hindi. He was making a decent attempt however when Murad got a hang of it, he unobtrusively raised his cost and stowed the arrangement." A similar source shares that an incredible sum was cited from Cine 1 Studios. "Murad is enthused about making a few changes in the following, not many years. There's Thadam, at that point there's Namak Halal and now, Master. You can read trending Bollywood stories on Top Web Series. He paid over Rs. 6 crores only for the rights. He had before paid around Rs. 4-5 crore for Arjun Reddy's true rights, yet the second he heard KJo is additionally at the opposite end, he raised his sum and got it. The group is presently assembling everything and modifying the content for the Hindi crowd. Projecting will happen just once the scripting is finished."
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JessicaDavid

Rotting fish lost business and piles of red tape. The reality of Brexit hits Britain

Brexit may be done and tidied, yet its apparition will linger throughout Britain for quite a while yet. For all the show made when Prime Minister Boris Johnson hit an economic accord with Brussels on Christmas Eve, the certain truth of leaving the European Union's traditions and administrative domain has just begun to nibble. The way that the arrangement just concurred multi-week before it happened implied that perilous interruption to innumerable organizations that depended on consistent stock chains was unavoidable. Notwithstanding Johnson's rehashed claims that Brexit is an extraordinary chance for British exporters and would prompt some sort of restoration with the expectation of complimentary exchange, the fact of the matter is altogether different: newly got fish are allegedly being left to decay as exporters can't get them to the European Union while coordinations firms are wary that both bringing in and trading will be practical for some organizations in the long haul. Aftermath from Brexit and the Covid pandemic is driving the UK economy into a sharp compression in the principal quarter, as indicated by information distributed Friday by IHS Markit, which means a two-year downturn is presently on the cards. While it ought to be a wellspring of shame for the PM that his arrangement has made life exceptionally hard for a considerable lot of the businesses that he has supported post-Brexit, Johnson's public assertions on the issue recommend he is negligent of the truth that many are confronting. When requested remark on the quick outcomes of the exchange obstructions actualized because of the arrangement, a UK government representative disclosed to CNN Business: "From the beginning, we were evident that we would leave the traditions association and single market which implied that there would be new cycles after the finish of the Transition Period. These were broadly imparted through our public data crusade." The starkest illustration of how Brexit is doing British business comes from Scotland's fishing industry. Regardless of the public authority's cases during Brexit arrangements that the fishing business was extremely close to the highest point of its need list, there is a genuine dread that the whole business could fall very quickly. "We had an altogether new framework for exporters to get their heads around that hadn't been tried preceding use. The outcome, fairly unavoidably, was that it began turning out badly straight away," says James Withers, CEO of Scotland Food and Drink. You can also do a company check for any business registered under the United Kingdom.
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JessicaDavid

Bollywood, reeling from coronavirus pandemic, shifts to streaming

Coolie No. 1" has all the hallmarks of a big Bollywood movie: colorful costumes, bigger-than-life sets, music for foot-tapping, and a melodramatic tale of a man who pretends to have a twin to woo his dream woman." The movie was set for a May theatrical release after filming wrapped in February. But it will not turn up in one of India's 3,000 theatres when "Coolie No. 1" eventually hits screens on Christmas Day. It will debut on Amazon's streaming service instead. "I'm making films for the theatre, but there was no way we could do that this time," said the producer, David Dhawan. The wait for a theatrical debut became unbearable after the coronavirus pandemic barreled in and shut down movie theatres, he said. So, after its release, a deal to send the film to Amazon changed to a direct streaming plan. It's certainly a compromise," said Mr. Dhawan, whose film is a remake of the same-named 1995 blockbuster he also directed." "But at least they're releasing my film." "Coolie No. 1" is just one of Bollywood's films, the abbreviation for India's almost $2.5 billion Hindi-language film industry, which has moved to stream in a pandemic-updated year. In all, according to the research firm Forrester, 28 big-star-led Bollywood movies that were heading to theatres went straight to streaming instead, compared with none last year. Among them were "Gulabo Sitabo," a dark comedy starring veteran actor Amitabh Bachchan, and the Indian mathematician's biopic "Shakuntala Devi," both of which started streaming in July on Amazon. In November, another, "Laxmi," a comedy-drama starring Akshay Kumar, was released on the Disney-owned Hotstar streaming service.
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The Singapore company tackling homelessness by building solar homes

BillionBricks, an innovation studio based in Singapore founded by Anurag Srivastava and Prasoon Kumar, aims to create the Philippines' first solar-powered community in the world by 2022, where the less fortunate can own and fund their own homes. One of the things that the COVID-19 pandemic has taught us is that when the world seems to be in upheaval, our homes are a protected place, a refuge. The idea of the home has grown in these extraordinary times to become a place where we not only live but also function. Housing, however, is a luxury that not everyone is able to afford. About 150 million people worldwide are homeless, while 1.6 billion live in insufficient housing conditions, according to United Nations statistics (UN). BillionBricks, a Singapore-based social enterprise, aims to eradicate homelessness and provide everyone including the poor, with a dignified home. Prasoon Kumar, along with his former boss, venture capitalist and entrepreneur Anurag Srivastava, formed the company in 2013. Kumar worked as an architect at the Space Matrix interior design company back then where Srivastava was the CEO. After spending many years designing about 10,000 homes for individuals who could afford them, Kumar felt a growing sense of unease that he did not do anything to help address the nagging issue of homelessness, a problem that is prevalent in many cities.
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JessicaDavid

New Zealand's Greg Barclay elected ICC chairman

Greg Barclay, head of New Zealand Cricket (NZC), was elected as the ICC's new Independent Chairman after he comfortably defeated Imran Khwaja of Singapore to succeed Shashank Manohar of India. Voting was carried out on Tuesday during the annual quarterly meeting of the ICC. 16 boards of directors were interested in the electronic voting process — 12 from full members (Test Playing Countries), three affiliate countries, and one independent female director (Indra Nooyi of PepsiCo). It is an honor to be elected as the ICC Chair and I would like to thank my fellow ICC Directors for their support. I hope we will come together to lead the sport and emerge in a strong position and poised for growth from the global pandemic,"It is an honor to be elected as the Chair of the ICC and I would like to thank my fellow ICC Directors for their support. I hope we can come together to lead the sport and emerge from the global pandemic in a strong position and poised for growth," I look forward to working with our members in collaboration to improve the game in our core markets and extend it beyond ensuring that more of the world will enjoy cricket. "I take my position as a custodian of the game very seriously and am committed to working on behalf of all 104 ICC Members to create a sustainable future for our sport," he added. The Kiwi prevailed 11-5, having the all-important winning vote in the second round of voting from the embattled Cricket South Africa.
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JessicaDavid

Singapore Airlines reports a half-year loss of USD2.6 billion.

Singapore Airlines (SIA) posted a record first-half net loss of SGD3.5 billion (USD2.6 billion) at the close of the market due to the effects of travel curbs caused by the COVID-19 pandemic. Due to tighter border controls, travel restrictions, and the reluctance of travelers to fly in the midst of the global pandemic, SIA, whose financial year begins in April, saw passenger traffic measured in passenger-kilometer revenue decrease by 98.9 percent in H1. With no domestic path, its company is more vulnerable than its regional peers to the coronavirus effect. Unlike other regional airlines in Southeast Asia, however, SIA has managed to increase its liquidity significantly. In June, it raised SGD8.8 billion (USD6.5 billion) via a shareholder rights issue, while SIA said it had used about 70% or SGD6.2 billion of the funds it had raised in an October 19 disclosure to the Singapore Exchange. In addition to the one-time SGD2 billion repayment of DBS Bank's bridging loan, the sums were drawn down were primarily used for debt servicing (SGD1.6 billion), SGD1.3 billion for operating expenses, and SGD1.1 billion for ticket repayments. SIA added that it has access to approximately SGD1.9 billion in lines of credit and can collect an additional SGD6.2 billion from the issuance of compulsory convertible bonds if the crisis continues. To date, SGD $2.1 billion has also been earned from short-term unsecured loans and loans secured against its aircraft. Though SIA appears to be well-funded well into 2021, some of the airlines in Southeast Asia can not say the same. In October, Reuters announced that Malaysia Airlines was struggling to meet payments owed to creditors and leasing firms. A scheme involving major creditor discounts has been suggested by the national airline, which restructured after two deadly crashes in 2014, but unlike last time, the government is reluctant to bail it out. Reuters also announced that Khazanah, Malaysia's state investment company, has warned leasing companies that if restructuring talks with lessors are unsuccessful, it would stop funding the airline group and push it into a winding-down phase. Created by flamboyant businessman Tony Fernandes, AirAsia, also based in Malaysia, is also in a liquidity crunch. To remain afloat, it is also searching for financial assistance. Last month, when Nikkei Asia announced that it had received an MYR1 billion (USD 242 billion) loan from the government, it appeared to have gained a reprieve only for the Malaysian Ministry of Finance to deny that such an arrangement was made days later. "AirAsia X Bhd has, a long-haul subsidiary, is reportedly" running out of money and needs to collect up to MYR 500 million (USD 120 million) to restart the airline, "Malaysian media quoted Deputy Chairman Lim Kian Onn as saying. AirAsia's parent company has a 13.6 percent interest in the company, with the main shareholder being Fernandes.
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JessicaDavid

Ant Group’s stalled IPO seen slashing its value by $140 billion

According to analysts' updated estimates, China's decision to halt Ant Group Co.'s massive stock debut could reduce the valuation of the fintech giant by as much as $140 billion. According to estimates from Morningstar Inc. and other companies, new legislation that may require Ant to raise more capital to fund lending and obtain national licenses to operate around the country could reduce the company's value by about half. The regulatory information is provisional and may be subject to change. If Ant's pre-IPO value of $280 billion is halved, it would basically suggest that the business is worth less than it was two years ago when it raised capital from some of the largest funds in the world, including Warburg Pincus LLC, Silver Lake Management LLC, and Temasek Holdings Pte. The reduced valuation also implies potentially lower fees for investment banks that were relying on a windfall from Ant's record-setting IPO, such as China International Capital Corp. And it gives the company of billionaire Jack Ma less power to carry out acquisitions as it looks to grow beyond its Chinese base and take the fight to Tencent Holdings Ltd. domestically. In a dramatic turn of events, just days before the Fintech juggernaut was due to go public in Shanghai and Hong Kong, China put the brakes on Ant's $35 billion share sale last week. The transition updates what was one of the largest business success storeys in China, as well as what was to be a key phase in the growth of the fast-growing capital markets of the country. Iris Tan, Morningstar's analyst, said that if its pre-IPO price-to - book ratio fell to about the level of top global banks, Ant could face a 25 percent -50 percent downside in valuation. That means it will cut its value by around $140 billion. Currently, she said, the stock price of Ant is priced at 4.4 times its book value, compared with 2 times at those banks.
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Strong experience of working with Fortune 100/500 enterprises globally as customers, building global relationships and partnerships. Experience in Technology, Financial Services and the software Industry gives me a significant edge to define “Go to Market” strategies and build a multi year strategy for a business. Have also experience in executing a strategic acquisition to build expertise and open new markets inorganically. Have done hands on sales, managed delivery teams and been directly responsible for business support functions as a head of business.
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