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MicroStrategy to Acquire $ 400 Million in Bitcoin (BTC)

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MicroStartegy the pioneer in business intelligence and analytic solutions announces acquiring even more Bitcoin(BTC). The finance will be through its new secured notes sale proceedings. It estimates acquiring about $400 million as BTC.

The Announcement

MicroStrategy is one of the largest firms on platforms of business intelligence, embedded analytical systems, mobile software developments, and hyper-intelligence improval of vendors, etc. Being a company based purely on technology and machine learning, it has been active in the crypto industry since 2020. MicroStrategy announced today its plan to further produce more secured notes of $400 million throughout due till 2028. It further stated the release of two of its new subsidiaries, MicroStrategy Services Corporation and MacroStrategy LLC. 

This announcement was made officially through a press release on their official site. 

The CEO of MicroStrategy, Michael Saylor stated both MicroStrategy Services Corporation and MacroStrategy LLC are subsidiaries under MicroStrategy. MicroStrategy Services Corporation will be involved in guaranteeing the issue of new notes and further securing them by converting them to Bitcoins. This will be done only on a seniority basis, depending upon the notes secured. MicroStrategy Services Corporation will play the role of acquiring new BTCs from the proceeds of the debt of secured notes. 

Only the new BTCs acquired will be secured in MicroStrategy Services Corporation. All the previously owned BTCs of MicroStrategy will be held by MacroStrategy LLC. Thus depicting the role of the MacroStrategy under MicroStrategy. 

Saylor’s Views and the Future

Saylor put forth this new idea that will make MicroStrategy prosper extraordinarily. MicroStrategy will thus grow, along with BTC towards the future. This is a brilliant move in which the debts through the secured notes are used to buy bitcoins. MicroStrategy already has assets of about $3.4 billion worth of bitcoins amounting to 92,078 BTCs. 

Saylor further views this new move will mitigate the recent loss of about $284.5 million incurred upon MicroStrategy’s BTC holdings. Bitcoin suffered a staggering 45% downfall from $60k to its present at $36k, falling even to $32k in between throughout the past  3 months.

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Source: https://thenewscrypto.com/microstrategy-to-acquire-400-million-in-bitcoin-btc/

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GE Power elevates Pramath Nath to CHRO – APAC & Japan, Steam Power

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GE Power, the US-based multinational energy tech company, has promoted Pamath Nath to the position of chief human resources officer – Asia Pacific & Japan, Steam Power. Nath was earlier leading HR and CSR for South Asia, Steam Power at the Company.

Nath, who comes with 24 years of experience in managing diverse facets of business transformation and human resources (HR), started his career with East India Hotels, as HR manager, in 2004. That is when he had joined The Oberoi, Bangalore, which had a 400+headcount. He had introduced various employee-engagement initiatives, managed grievance handling in a highly unionised work environment and taken care of staffing pan India. Almost two years later, he joined Reliance Retail as HR manager. In his brief eight-month stint, being the first employee of the start-up retail venture of Reliance in Karnataka, he was instrumental in driving the hiring of over 500 employees across levels in apparels, lifestyle, stores operations, EPC, food verticals as well as support functions.

In 2006, he moved on to Hewlett-Packard as the centre HR head. After playing business partner and HR generalist for a centre of 3000 + employees for almost three years, he was promoted to the role of HR business partner for Asia, Pacific & Japan. By the time he left HP after a successful six-year long tenure, he was global talent manager.
His next stop was KPMG, where he joined as director – human resources in 2013 and went on to become executive director in four years. His stint with KPMG lasted six years and eight months.

It was in 2019 that he joined GE Power as HR & CSR leader – South Asia, Steam Power.
In less than a year and a half, he has been elevated to CHRO – APAC and Japan. He is already working with the business leaders across 15 nations, even while he continues to handle the CSR and Facilities for India.

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Source: https://www.hrkatha.com/people/movement/ge-power-elevates-pramath-nath-to-chro-apac-japan-steam-power/

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TresVista announces Rs 10L for family of deceased employee

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While most companies are offering financial aid, medical insurance and vaccination to all their employees and their families, TresVista is offering aid to even the employees who lose their spouse or parent to COVID. Yes, the Company is offering a lumpsum amount of Rs 3 lakhs to a married employee who loses his/her spouse or an unmarried employee who loses a parent to COVID-19. On the demise of a serving employee, TresVista is offering an amount of Rs 10 lakhs or the equivalent of the employee’s gross annual salary, whichever is higher, to the nominated family member.

The Company, which provides high-end outsourced support to corporates, asset managers, and entrepreneurs, has reiterated its commitment to employee well-being by announcing a host of employee support initiatives.

Sudeep Mishra, co-founder & managing director, TresVista, said, “We feel privileged to be in a position to help our employees and fast-track financial help to those in distress, which is the goal of the Covid related aid package.”

Employees can obtain salary advances and interest-free loans from the specially-allocated company corpus in case of medical emergencies for themselves and their families. While the Group’s current medical insurance policy includes COVID-19 coverage for all employees, the firm has increased the sum assured by 50 to 100 per cent across designations.

Earlier, the Company had announced measures including caregiver’s leaves, bonuses, vaccination reimbursements, and more. Also, TresVista has been organising vaccination drives in Mumbai, Pune, Delhi, Kolkata, and Bangalore for its employees, immediate family members, and any other people living with them.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.hrkatha.com/employee-benefits-welfare/tresvista-announces-rs-10l-for-family-of-deceased-employee/

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Amazon’s robo to ensure safety at the workplace

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Amazon is gearing up to introduce robo employees at its fulfilment centres across the globe, to make the workplace safer. With the robots in place, employees will not have to reach up to shelves or bend down to pick up items. The new workstation system called ‘Ernie’, uses a robotic arm to lift things off mobile shelves and deliver them to the staff. That means, the employees do not have to take any risks and can remain in a safe and comfortable position while Ernie does the reaching, bending, lifting and stretching for them.

The robotic arm, which is still being tested out, does not increase the speed of the work, but only ensures the safety of the employees at the facilities. Amazon is already testing another robo, Bert, which autonomously navigates through fulfilment centres and is equipped with advanced safety, perception and navigation technology developed inhouse by Amazon. Bert is Amazons’ first Autonomous Mobile Robot, or AMR, which it is hoped will make work faster and more efficient. If the tests prove fruitful and successful, employees can get Bert to carry items from one corner of the facility to another and cover a larger area.

With time and advanced features, Bert may even be able to lift heavy items or carts to transport items through the fulfilment centres and reduce the burden and strain on the employees.

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Source: https://www.hrkatha.com/news/tools-technology/amazons-robo-to-ensure-safety-at-the-workplace/

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Rs 10 lakh + salary till retirement to families of deceased staff: Vedanta

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Vedanta, the diversified natural resources company, has announced that in case an employee or business partner loses his/her life to COVID, the surviving family will receive the last-drawn salary till what would have been the deceased employee’s date of retirement. This is over and above the ex-gratia amount of Rs 10 lakh that the mining conglomerate will pay to the families of each of the deceased employees. That is not all, Vedanta has also increased the medical insurance cover 1.5 times the existing amount.

The Company has spent about Rs 12.6 crore to obtain vaccines in bulk for the inoculation of its employees, business partners and their family members / dependents.

The COVID Kawach Insurance being offered to all the business partners, includes term life and hospitalisation and an ex-gratia amount of Rs 10 lakhs to the family members of the deceased business partner employee. Mediclaim Insurance coverage will also be extended till the notional date of retirement of the deceased employee. Financial support will be given for the education of two children of the deceased till they graduate.

Vedanta recently made headlines when it revealed its plans to invest about Rs 100 crore for the implementation of Vedanta Spark, an initiative to build technological capabilities in collaboration with startups.

The initiative has already attracted over 1,350 registrations from across 19 countries with more than 250 overseas startups.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.hrkatha.com/employee-benefits-welfare/rs-10-lakh-salary-till-retirement-to-families-of-deceased-staff-vedanta/

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