Indian billionaire Mukesh Ambani is planning a 2025 Mumbai listing for his telecom business Jio, valued at over $100 billion, while delaying the IPO of his retail unit. The move has significant implications for investors and India’s equity markets, with Reliance aiming for the largest stock offering in the country. Ambani’s ventures have attracted substantial investments, making the IPOs crucial for the future of Reliance.
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Musk takes control of US Treasury payments systems – sparking alarm among critics
Elon Musk's aides have taken control of the US Treasury Department's payments system, managing trillions of dollars in transactions annually, causing concern among critics. Musk, leading federal cost-cutting efforts under the "Department of Government Efficiency," claimed to be rooting out corruption and waste. The Treasury's payments system, crucial for handling government funds, was approved for Musk's control by incoming Treasury Secretary Scott Bessent after a career official was placed on leave for refusing access. Full...
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