Byju Raveendran Faces Reckoning as Ed-Tech Giant Collapses

Byju Raveendran, once a mathematics teacher turned billionaire entrepreneur, now faces his toughest challenge. His ed-tech company, Byju’s, has plummeted from a $22 billion valuation to below $2 billion. Accusations of financial mismanagement and compliance issues have led to insolvency proceedings, casting a shadow over his legacy. Rise to Prominence Raveendran’s journey began humbly in a small village in South India. He started Byju’s in 2011 with physical classes. His knack for teaching and impressive credentials, including acing a premier Indian management exam twice, quickly gained attention. Alongside his wife…

Global Leaders Pay Tribute to Biden’s Legacy as He Exits 2024 Presidential Race

On Sunday, President Joe Biden announced he would not seek re-election in 2024, endorsing Vice President Kamala Harris for the Democratic nomination. This announcement prompted reactions from leaders worldwide, who lauded Biden’s long and impactful career. Democratic and Republican Reactions Democrats praised Biden’s dedication and legacy, emphasizing his many years of public service. Republicans, on the other hand, called for his immediate resignation, citing concerns about his age and mental acuity. Biden’s decision came amid increasing pressure for him to step down, reflecting concerns raised throughout his presidency and re-election…

Hinduja Tech to Acquire Germany’s Tecosim Group for €21 Million

Hinduja Tech, a subsidiary of Ashok Leyland, is set to acquire Germany-based engineering firm Tecosim Group for €21 million (approximately ₹190 crore). This strategic move is designed to expand Hinduja Tech’s presence in the European market and enhance its global capabilities in mobility engineering services. Background on Hinduja Tech Hinduja Tech, established as a leading provider of engineering, manufacturing, and enterprise solutions, is a key player in the automotive and aerospace sectors. The company has built a reputation for delivering innovative and sustainable engineering solutions that cater to the evolving…

Biden Withdraws from Presidential Race, Endorses Harris

President Joe Biden announced he is ending his re-election campaign. The decision came after facing pressure from fellow Democrats. Concerns about his mental acuity were cited as the main reason. Biden stated this move is in the best interest of the country. He will remain in office until January 2025. Kamala Harris Endorsed Biden’s withdrawal opens the path for Vice President Kamala Harris. She now has the opportunity to run for president. Harris would be the first Black woman to do so in U.S. history. Biden did not mention her…

Byju’s Faces Shutdown Amid Insolvency Crisis, CEO Warns

Indian ed-tech giant Byju’s, once valued at $22 billion, faces a total shutdown if insolvency proceedings continue, warned its CEO in a court filing. The financial troubles of the company could lead to thousands of employees quitting and a complete halt of its services. Recent Setbacks Byju’s, backed by notable investors like Prosus and General Atlantic, has faced multiple setbacks recently. These setbacks include significant job cuts, a dramatic drop in valuation, and ongoing disputes with investors. The investors have accused CEO Byju Raveendran of corporate governance lapses, allegations which…

Trump’s First Call as Republican Nominee; Guarantees to End Ukraine-Russia War After Call with Zelenskyy

Donald Trump has pledged to end the Ukraine-Russia war following a congratulatory call from Ukrainian President Volodymyr Zelenskyy. The two leaders spoke over the phone on Friday, marking Trump’s first conversation with a foreign leader since officially becoming the Republican Party’s presidential nominee. This call highlights the growing international awareness of Trump’s potential impact on the November 5 elections. Call Details and Trump’s Promise In a post on Truth Social, Trump shared the details of their conversation. “President Zelenskyy of Ukraine and I had a very good phone call earlier…

Uddhav Thackeray Vows to Scrap Dharavi Redevelopment Tender if Elected

Uddhav Thackeray, Shiv Sena (UBT) chief, announced on Saturday his plan to scrap the Dharavi slum redevelopment project tender awarded to Gautam Adani’s firm if his party gains power in Maharashtra. He emphasized that the residents and businesses of Dharavi should not be uprooted. Thackeray insisted that locals must be provided with 500 square feet houses within the locality. “We will not allow Mumbai to be turned into Adani city.” During a press conference, Thackeray questioned why the current government should not cancel the tender immediately. He declared, “We will…

500 Para Commandos Deployed to Combat Pakistani Terrorists in Jammu

In response to the infiltration of highly trained Pakistani terrorists in the Jammu region, the Indian Army is readjusting its deployments. Intelligence inputs and security requirements have necessitated this move. Special Forces on the Ground The Indian Army has deployed approximately 500 Para Special Forces commandos to hunt down 50-55 terrorists from Pakistan. These terrorists have entered the region to revive terrorism, according to defence sources. Intelligence agencies have also strengthened their operations in the area. They are targeting the terrorist support infrastructure, including overground workers who assist the terrorists.…

UPSC Chairperson Manoj Soni Resigns Amid ‘Fake Certificate’ Controversy!

Union Public Service Commission (UPSC) Chairperson, Manoj Soni, has resigned nearly five years before the end of his tenure. Sources revealed that Soni resigned for “personal reasons.” He joined the UPSC in 2017 and became Chairperson on May 16, 2023, with his tenure expected to last until 2029. However, a source informed The Hindu that Soni resigned about a month ago. There is still no clarity on whether his resignation will be accepted. Not Linked to Fake Certificate Scandal The anonymous source emphasized that Soni’s resignation is unrelated to recent…

Bangladesh Imposes Nationwide Curfew Amid Violent Protests

The Bangladesh government, led by Prime Minister Sheikh Hasina, imposed a nationwide curfew and deployed military forces after violent protests over the government job quota system escalated. The unrest reached a critical point on Friday when protesters stormed a jail in Narsingdi, freeing hundreds of inmates and setting the facility ablaze. Official Announcement and Response Obaidul Quader, the general secretary of the ruling Awami League party, announced the curfew and the deployment of the military. This decision followed deadly clashes where police and security officials fired on protesters. The death…