Flipkart makes $700 million payout to employees following PhonePe split

Flipkart commenced a $700 million “one-time discretionary” cash payout to employees on Friday, the single-largest such compensation in the Indian startup ecosystem. The Walmart-backed Bengaluru-headquartered startup is compensating employees for the separation of fintech PhonePe from the e-commerce group, a move that devalued Flipkart’s shares.  The two firms completed a full ownership separation late last…

BT to find new CEO amid takeover rumours

BT CEO Philip Jansen has revealed his plans to step down from his position, sparking rumours of a possible takeover bid for the telecommunications company. BT stated that Jansen would depart at an “appropriate moment” within the next 12 months.  The news comes as BT intensifies efforts with advisors Robert Warsaw and Goldman Sachs to…

FCC announces plan to halt SIM-swappers

The FCC has unveiled a set of rules aimed at safeguarding consumers against scams that seek to commandeer their cell phone accounts. The proposed regulations, designed to protect citizens’ freedom to choose their preferred device and provider, require wireless providers to implement secure authentication methods when swapping SIM cards or porting phone numbers to another……