SUPERIOR VOTING RIGHTS
What to know about Brazil's Bolsonaro's departure to the US after his electoral defeat
Flavio Bolsonaro, a Brazilian senator, fled to Miami with his family after losing the presidential election. He had been under investigation for corruption and faced passport seizures ordered by the Supreme Court. His father, Jair Bolsonaro, had previously claimed electoral fraud without providing evidence. Despite allegations of voter suppression, the electoral results were widely accepted by political leaders around the world.
Child rape convict's sister Nicki Minaj gets into Trump’s close circle, but can the US president pardon him?
Rapper Nicki Minaj expressed her support for President Donald Trump during a recent rally in Michigan. Minaj, who is not a US citizen, revealed her citizenship paperwork is in process. Her brother, Jelani Maraj, is serving a lengthy prison sentence for child rape, raising questions about presidential pardons. Trump's authority to grant clemency does not extend to state law convictions like Maraj's.
Inside Hollywood's biggest plot twist: How Paramount closed $110 billion Warner Bros deal to create Skydance
Paramount Skydance finalized its acquisition of Warner Bros Discovery for $110 billion after a prolonged bidding war. Following the merger, shares of Skydance began trading on the New York Stock Exchange under the ticker 'SKYD'. The deal faced scrutiny and opposition from various Hollywood figures and state attorneys general concerned about job losses. Regulators permitted the transaction despite legal challenges, including lawsuits from the Writers Guild of America.
In Brazil, frustration over cost of living undermines Lula's reelection bid
Kleyton Zacarioto, a butcher, expresses frustration with high food prices impacting household budgets ahead of elections. Incumbent President Lula highlights improving economic indicators like falling unemployment amidst voter dissatisfaction. Senator Flavio Bolsonaro argues that the economy has worsened, stating that families are financially strained. Lula's recent measures to boost disposable income have had little effect on voter sentiment.
German Chancellor Merz's party faces fresh setback in state elections
German Chancellor Friedrich Merz's Christian Democratic Union (CDU) faced heavy losses in two state elections, according to exit polls, adding to pressure on the leader as he struggles to revive the economy and contain the far-right AfD's rise. The AfD made gains in both states, while the CDU was projected to record its worst-ever result in Mecklenburg-Western Pomerania since World War II.
No SVR share ownership through trusts for now
The Securities and Exchange Board of India (Sebi) has turned down a demand by several startups to allow founders to hold superior voting rights (SVR) shares through trusts, said people with knowledge of the matter. Currently, full-time executives of a company are only allowed to own SVR shares directly. Several companies lobbied Sebi to allow ownership through trusts since this is beneficial from a tax point of view.
Sebi eases eligibility criteria related to superior voting rights shares
The regulator said while determining the individual net worth of the SR shareholder, his investment/ shareholding in other listed companies shall be considered, but not that of his shareholding in the issuer company.
Sebi board to discuss M&A norms, gold exchanges
The board of the Securities and Exchange Board of India (Sebi) is set to approve several investor-friendly measures when it meets on September 28.
Sebi eases superior voting rights norms to aid startup listing
The current framework allows issuance of superior voting rights shares to promoters or founders holding an executive position in the company desirous of listing on the Main Board.
IndiaTech proposes key changes in SR shareholding rules to Sebi
The conversation around shares with superior voting rights, or SR shares, is happening at a time when several Indian startups —from Paytm to Policybazaar—are looking to tap the public markets via IPOs.
Sebi proposal may bolster IPO-bound founders' rights
Move may help founders dilute stakes without losing control, make tax system more efficient
Sebi proposes key changes to superior voting rights shares
Under Sebi rules, the definition of promoter and promoter group is very broad and can include a large set of relatives and entities. Investments and net-worths of such relatives and entities would also be considered for determining the collective net worth.
Government eases restrictions on issuance of shares with DVRs
Experts said the move will likely encourage promoters of startups to raise equity capital.
What DVRs mean for startups and entrepreneurs
While the industry awaits further clarity on issues, the move is being seen as a game changer paving way for far greater founder control of their companies.
Sebi to allow IPOs by tech companies with superior voting right shares
The new norms would be discussed by the Sebi board later this week.
DVR: An instrument whose time hasn’t come
Differential voting rights are essentially certain shareholders having different number of votes.
Experts flag 'predatory' powers to some at cost of minority investors
Companies with SR shares would be allowed to issue FR shares one year post IPO.
Startup promoters to get superior voting rights?
This could be done by differential voting rights (DVRs) of shares, which is what allows Mark Zuckerberg till today to control Facebook.
Sebi sets up panel to look into issue of DVRs
In India, companies are allowed to issue shares with differential rights.
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