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episode 3952: TMS Ep622: Go First acquisition, Canada's restriction, Paytm, Rabbit r1
Over eight months after Go First grounded its entire fleet and filed for bankruptcy, a fresh development has given some hope to its anxious lenders. They are reportedly seeking an extension of the insolvency process by another 60 days after three potential buyers have expressed interest in the airline. SpiceJet’s founder Ajay Singh is one among them. But does Ajay Singh have the wherewithal to catapult Go First back in the air? But it seems Spice Jet is trying hard to turn the corner. It reported profit in the first quarter of FY24, and narrowed losses by about half in the second quarter year-on-year. It is also planning to raise a fresh capital of 2,250 crore rupees. Moving on, the number of Indian students taking flight to Canada is set to drop considerably. The country has announced two-year restrictions on new international student visas. But who will gain from it? The United States, meanwhile, remained the top choice for Indian students. India was the largest source of international graduate students in the United States in 2022-23. Let us now move on to financial markets. Paytm is in a slump, having been locked in the 20% upper circuit for 2 straight days as RBI has mandated to halt nearly all banking services of its payments bank unit. With this, fintech's timeline to profitability has clearly been delayed. So, what lies ahead for the stock and the company? Clearly Paytm boss Vijay Shekhar Sharma has his task cut out. A few months ago he had predicted artificial intelligence-led “mass industrialisation” of human jobs in the next five years. Things clearly are moving in that direction. Now a compact AI assistant device is taking the tech world by storm. It has been named Rabbit r1? Listen to this episode of the podcast for answers.