August, 2020 | Biz Journal

How Biden chose Harris: A search that forged new stars, friends & rivalries

It was early in Joseph R. Biden Jr.’s vice-presidential search when he asked his advisers a sensitive question about Senator Kamala Harris. He kept hearing so much private criticism of her from other California Democrats, he wanted to know: Is she simply unpopular in her home state?

Advisers assured Mr. Biden that was not the case: Ms. Harris had her share of Democratic rivals and detractors in the factional world of California politics, but among regular voters her standing was solid.

Mr. Biden’s query, and the quiet attacks that prompted it, helped begin a delicate audition for Ms. Harris that has never before been revealed in depth. She faced daunting obstacles, including an array of strong competitors, unease about her within the Biden family and bitter feuds from California and the 2020 primary season that exploded anew.

Though Ms. Harris was seen

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Economic

RBI’s payout unlikely to plug the huge govt revenue hole created by Covid

August 14, 2020August 14, 2020 by Martha

India’s Finance Minister Nirmala Sitharaman can expect another payout from the central bank in coming weeks, but it’s unlikely to plug a huge government revenue hole created by the pandemic.

The Reserve Bank of India’s board, led by Governor Shaktikanta Das, is meeting Friday, and since August is typically the month the central bank makes its annual transfer to the government, expectations are running high that the RBI will disclose its dividend payout.

Last year the RBI’s board approved a record payment of Rs 1.76 trillion ($23.5 billion) to the government, which included Rs 1.23 trillion as dividend and Rs 526.4 billion from its surplus capital. This year, New Delhi has budgeted for a Rs 600 billion transfer, but local media has speculated authorities are expecting more. Analysts and economists are forecasting anything between 400 billion to 1 trillion rupees.

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Invesment

Lightspeed Capital Now Available for Small Retail Businesses

August 14, 2020August 14, 2020 by Martha

Lightspeed has made its Lightspeed Capital available for smaller retailers in the United States.

The offering comes from a partnership with Stripe. The alliance is designed to support small to medium-sized businesses.

Small retail businesses can now use Lightspeed Capital to acquire flexible financing of up to $50,000 per retail location.

Lightspeed Capital Now Available to Small US Retailers

Lightspeed Capital helps small retailers buy inventory, invest in marketing, and manage cash flows, stimulating overall business growth.

What stands Lightspeed Capital apart from other more traditional financial institutions is the fast and efficient approval process. This streamlined approach allows small retail businesses to gain financial support almost immediately.

Digitally Transform Your Business

Founder and CEO of Lightspeed, Dax Dasilva, spoke about the benefits his company provides to retailers, saying:

“Lightspeed retailers have always outperformed the broader industry and this has been more apparent than ever during COVID-19 as

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Biz News

Aurobindo Pharma declines 4% despite 23% YoY jump in June quarter profit

August 13, 2020August 13, 2020 by Martha

Shares of Aurobindo Pharma dipped 4.47 per cent to Rs 892.25 on the BSE on Thursday despite the company reporting a 22.81 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market.

Consolidated revenue from operations of the company stood at Rs 5,924.78 crore for the quarter under consideration. It was Rs 5,444.60 crore for the same period a year ago, Aurobindo Pharma said in a filing to BSE.

“Amid challenging times, we have started the financial year by reporting a healthy performance. We have ensured the business continuity without compromising the safety and wellbeing of our employees,” the company’s Managing Director N Govindarajan said.

US formulation revenue for the quarter ended June this fiscal was at

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Economic

‘Harvard Hyderabad’: The future of US higher education could be in India

August 13, 2020August 13, 2020 by Martha

With much of U.S. higher education online only this semester, and its more long-term future deeply uncertain, now is a time to dream big. My own fantasy is based on the Indian government’s recent plan to encourage the top 100 universities in the world to operate in India.

Consider how the next 30 years might look if India were to allow the creation of a “Princeton Mumbai,” a “Harvard Hyderabad” or an “Oxford Kolkata.”

At first, most top U.S. universities would be reluctant to proceed boldly. Branch campuses abroad exist, such as the Yale-NUS College in Singapore, but they are usually smaller and less important relative to the home university. Top universities jealousy guard their positions as exclusive institutions, and it would not be easy for Harvard (even pre-Covid-19) to hire faculty of comparable quality in India in most areas of academic study.

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Invesment

Joshua Sophy Named Editor, Small Business Trends

August 13, 2020August 13, 2020 by Martha

Experienced journalist, editor and publisher Joshua Sophy has been named Editor of Small Business Trends. He previously held the roles of writer and subsequently Assistant Editor at Small Business Trends.

In his role, Joshua is responsible for the daily publishing operations for Small Business Trends, bringing news, advice and insights to small business owners. A key part of his role is to help business owners and entrepreneurs stay aware of important recent developments that could affect them and their businesses.

“I am thrilled to be part of the Small Business Trends team,” Sophy said. “I have worked in various newspaper and journalism roles and find this to be a rewarding career. This opportunity enables me to continue my professional growth, work with some extremely talented people, and serve small business owners by informing them in a balanced way about issues of the day. I can think of no

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