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The Baseline
16 Dec 2016
Uber close to a profit in India markets, says CEO Kalanick
  • Ola's cries for protectionism from the Indian government have a reason behind it: Uber India is reportedly close to finally seeing profits in the Indian market. Uber CEO Travis Kalanick was in India Thursday, visiting an Asian market that has become increasingly critical to the company's future growth after it folded operations in China. Uber, Kalanick said, is now seeing a path to profitability. The company had invested over $1 billion dollars in India last year. 

  • Ratan Tata is to step down as Chairman of the Tata Trusts. The trusts have been one of the flashpoints in the public fight between Mistry and the Tata group, with the ex-Chairman of Tata Sons alleging that Ratan Tata used the Trusts as a separate power centre to control business decisions and influence directors. The successor, one trustee said, would be selected only after working alongside Ratan Tata for a while - which leaves open the possibility that Ratan Tata will continue to influence decisions from the outside.  UPDATE: Tata Sons clarifies that this process is only being put in place, for when Ratan Tata decides to step down. 

  • Stock in spotlight: Aurobindo Pharma is flailing in markets today after being named in a suit filed by US attorneys for its alleged involvement in price-fixing of the generic drug glyburide, which treats diabetes.  

  • Photo of the day: A hunter releases his golden eagle during training in Almaty, Kazakhstan. Shamil Zhumatov/Reuters

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