Good Morning Folks!!! Can you guess the name of this major soft drink retail giant who was named after a digestive enzyme because it was believed to be a healthier alternative to its competitor? Stay tuned till the end of the newsletter to find out!

CORPORATE
Reliance Industries Cuts 42,000 Jobs in Major Restructuring Move

One Liner: Reliance Industries slashes 42,000 jobs to streamline operations, significantly impacting its retail division and sparking economic concern.

Reliance Industries Ltd (RIL) has made headlines with a major workforce reduction, cutting 42,000 jobs in the fiscal year 2023-24. This strategic move, aimed at boosting cost efficiency, has trimmed the company’s total workforce by 11%, bringing it down to 3.47 lakh employees. The retail division bore the brunt, slashing its workforce from 2.45 lakh to 2.07 lakh and slowing store expansion significantly. Despite these cuts, RIL's employee benefits expense rose by 3% to Rs 25,699 crore. While the reduction is seen as a bid to streamline operations, it raises concerns about broader economic impacts and shifts in consumer behavior.

STOCK MARKET
Adani Shares Drop $2.4 Billion Amid New Hindenburg Allegations

One Liner: Adani Group faces a $2.4 billion share slump after fresh Hindenburg Research claims link SEBI’s chair to offshore funds, though the group partially recovers by day’s end.

Adani Group’s shares plunged $2.4 billion after Hindenburg Research accused SEBI chair Madhabi Puri Buch of having ties with offshore funds linked to Adani, a claim Buch and SEBI deny. Despite an initial $13 billion drop, Adani shares partially recovered by day’s end. This new controversy adds to the ongoing saga that began 18 months ago, with Adani's market value recovering significantly from earlier losses. Political reactions are divided, with ruling party members dismissing the allegations and opposition figures questioning SEBI's integrity. Adani's upcoming $1 billion share sale and external investments are key to restoring investor confidence.

START-UP
Oyo’s Valuation Plummets 75% to $2.4 Billion Amid New Funding Round

One Liner: Oyo’s valuation drops dramatically to $2.4 billion in its latest funding round, marking a 75% decrease from its previous $10 billion peak.

Oyo, once a $10 billion giant in India’s startup scene, has seen its valuation plummet over 75% to $2.4 billion in its latest Series G funding round. The Gurugram-based budget hotel chain raised $173.5 million, primarily from Patient Capital, InCred Wealth, and J&A Partners. This dramatic drop in valuation comes amid ongoing controversies and follows Oyo’s failed IPO attempts and previous valuation cuts by major investors like SoftBank. Despite these setbacks, the fresh funding highlights ongoing support from key backers including Oyo founder Ritesh Agarwal, who has previously invested significantly in the startup.

WORLD

Foreign investors are rapidly pulling out capital from China, marking a record outflow due to increasing economic uncertainty and geopolitical tensions. The situation is exacerbated by China's sluggish post-pandemic recovery, regulatory crackdowns on private enterprises, and escalating tensions with the U.S. This mass exodus is impacting Chinese stock markets, which have seen significant drops as foreign money exits. Analysts express concern over the long-term implications, as sustained outflows could undermine China's economic stability and global standing.

Mark Zuckerberg has publicly credited Demis Hassabis, CEO of DeepMind, for his pivotal role in negotiating with Google. Zuckerberg highlighted Hassabis' strategic influence in critical discussions that have significantly shaped Meta's direction. The acknowledgment underscores the importance of collaboration with AI experts as companies like Meta navigate complex negotiations in the tech landscape. This revelation has sparked discussions about the growing influence of AI leaders in corporate strategy, particularly in high-stakes negotiations.

Bharti Enterprises is on the verge of becoming the largest stakeholder in BT Group, the UK's biggest telecom company, through a nearly $4 billion investment. This move reflects Bharti's strategy to expand its global footprint, particularly in the European market. The investment will grant Bharti significant influence over BT's operations, potentially leading to strategic partnerships and innovations in telecommunications. Analysts are closely watching this development, as it could reshape the competitive landscape in the telecom sector.

Event: LAUREN MIA at Sunburn Union

Foodie Spot: Korean BBQ Chicken Burger from Seoul Mate Korean Burger

Workshop: Gymnastics Workshop

Riddle

I am easier to get into but difficult to get out of. What am I?

ANSWER TIME!!

Answer(Trivia): Trouble 

Answer(Riddle): Pepsin