Trump’s aide faces prison sentence for his ‘dirty deeds’. May survives her own party, but can she win Parliament? Rs 70 crore wedding for Isha & Anand, and more in todays edition of DKODING Newsline
Former Trump aide jailed, says he paid for his boss’s ‘dirty deeds’
Michael Cohen, former lawyer of US President Donald Trump, has been awarded a 3-year sentence and a fine of US$ 2 million, as he pleaded guilty to multiple crimes including tax evasion, making false statements to a financial institution, illegal campaign contributions, and making false statements to Congress.
He was also charged with giving hush money to two women who had threatened to go public about their affairs with Trump during the 2016 Presidential elections.
Cohen stated that he took responsibility for his crimes. He also added that his ‘blind loyalty’ to Trump’ led him to take a path of darkness instead of light’ and it was his duty to “cover up his (Trump’s) dirty deeds”. Cohen is the first in Trump’s inner circle to face prison time in the ongoing enquiry pertaining to alleged Russian meddling in the 2016 Presidential Elections.
Trump has admitted to the payments to the two women but denied the affairs, stating that they were private transactions unrelated to his election campaign. Cohen had also offered to provide information on campaign violations including the payment to adult film star Stormy Daniels as directed by the candidate (implying Donald Trump).
Trump has called the allegations a witch hunt while also criticising Cohen as a weak person and a liar. Other charges of tax evasion and bank fraud against Cohen are not related to Trump.
Theresa May survives confidence vote, greater challenge of Brexit vote still looms
British Prime Minister Theresa May won a reprieve when she survived a no confidence motion against her leadership of the Conservative party, with the final score reading 200 for and 117 against.
After this victory, May promised that she would now deliver the Brexit that the people had voted for, while also clarifying that she had paid heed to her opponents as well.
Forty eight of May’s own MPs had criticised her Brexit policy, which they asserted was against the spirit of the referendum outcome in 2016. She also added that she would fight for changes in her deal at the EU summit on Thursday.
However, Jacob Rees-Mogg who had led the demand for the vote, said that May had not got the support of one-third of her MPs, which was a “terrible result for the prime minister”.
The Brexit challenge is still looming for May, since it does not have the support of several of her own MPs, including all the opposition parties. The Labour party has said that it will also table a no-confidence motion, where all MPs will vote.
Considering the trends, the opposition would fancy a strong chance at winning it and taking the country to another general election. May has vowed to leave her post before the next election is normally scheduled in 2022.
Austrian chancellor Sebastian Kurz supported May’s victory, and said that avoiding a no-deal exit from the EU was their “shared goal”.
NinjaCart raises $35 million from Accel, Syngeta Ventures
NinjaCart, a platform for marketing and delivering agricultural produce has raised Series B funding of US$ 35 million (₹250 crore), a round that was led by Accel Partners (US) and Switzerland’s Syngeta Ventures apart from new investors Neoplux, ZiGeXn founder Jo Hirao, Russian firm HR Capital and venture debt firm Trifecta Capital.
Besides this, the round also saw participation from Accel India, Nandan Nilekani NRJN Trust, Misteltoe and Qualcomm Venture, who are existing investors. The Bengaluru-based company has raised over $49 million so far, and is planning to leverage the investment to expand operations to 10 cities, set up 200 distribution centres and improve supply chain infrastructure. Currently in Bengaluru, Hyderabad and Chennai, the startup is planning to expand in New Delhi and Mumbai by 2019.
Its founders include Thirukumaran Nagarajan, Ashutosh Vikram, Kartheeswaran K.K., Sachin Jose and Sharath Loganathan. NinjaCart connects farmers supplying fruits and vegetables to last-mile retailers like grocery stores, supermarkets and restaurants.
It has set up a logistics network to ensure quick pick up and delivery over 60 tonnes of farm produce per day. Farmers are getting around 15–20% better returns in terms of revenue according to reports, which has enabled the company to build a farmer network of around 3,000.
It serves 4,000 retailers daily and envisions expanding its reach to 10,000 retailers by March 2019.
Social media startup Roposo gets US$ 10 million in funding
Gurugram-based startup Roposo has raised a series C funding of US$ 10 million from its existing investors Tiger Global Management and Bertelsmann India Investments, which it will leverage for product tech, talent acquisition and community expansion.
The company is founded by IIT Delhi alumni Mayank Bhangadia (also the CEO), Avinash Saxena and Kaushal Shubhan. Parent company Relevant E-Solutions Pvt. Ltd had secured Rs 120 crore from Tech Circle Ventures and Bertelsmann India last month itself and the latest investment takes its total funding to US$ 31 million so far.
Flipkart founder Binny Bansal and VC firm India Quotient are also backing Roposo. With this deal, Bertelsmann principal Rohit Sood will join Roposo’s board as a director. Roposo started as a platform for discovery for women’s and men’s fashion. Later in mid-2017, it evolved into a social media platform that curates content from various categories including food, travel and fashion.
The company provides a TV like interface where users can view videos and pictures from 24 channels and in various regional languages that include Punjabi, Gujarati, Tamil, Bengali and Hindi. It compensates content creators according to number of views received and also simultaneously earns from advertisements on the platform.
With a monthly revenue run rate of US$ 100,000, Roposo has developed a 25-million strong community so far.
Isha-Anand get married in one of the most expensive weddings ever
Isha Ambani, the daughter of India’s richest businessman and Reliance Industries Ltd (RIL) chairman Mukesh Ambani got married to Anand Piramal, son of business tycoon Ajay Piramal at the grand Ambani tower house luxurious tower-house Antilla in Mumbai on Wednesday.
Billed as one of the most expensive weddings ever with a total cost of around Rs 70 crore, the event boasted a high-profile celebrity guest list — the Bachchan family, leading stars of the film industry Rajinikanth, Shah Rukh Khan, Salman Khan and Aamir Khan, batting maestro Sachin Tendulkar, ex-president Pranab Mukherjee, ex-US secretary of state Hillary Clinton as well as the new star couples — Ranveer Singh, Deepika Padukone and Priyanka Chopra, Nick Jonas. American pop singer had performed during the pre-wedding celebrations in Udaipur.
Anand Piramal is a Harvard alumnus and Isha’s childhood friend. He has founded two startups — Piramal eSwasthya and Piramal Realty — and is also executive director of the US$ 4 billion family-run business house Piramal Enterprises.
Isha is a member on the boards of Reliance Jio Infocomm and Reliance Retail. Around 2,000 guests attended the pre-wedding functions, while only 600 relatives and close friends were invited to the main wedding function.
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