Week Wrap Up: Flipkart Founder Binny Bansal Steps Down As Company's Group CEO

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1. Alibaba hits a jackpot. Breaking last year’s record, the Chinese e-commerce giant has earned $24.3 billion by the midday of their annual sale Singles’ Day.

2. Robyn Denholm is the new Tesla boss. Weeks after Elon Musk stepped down as the company chairman, the Australian businesswoman was appointed to fill the shoes.

3. Binny Bansal has stepped down as Flipkart’s Group CEO. His resignation came in wake of an independent probe into the serious personal misconduct allegations against him.               

4. In the biggest hire of the year, Oyo has appointed former IndiGo President Aditya Gosh as its new CEO for South Asia. Ghosh will look after the company’s India and South Asia operations from December.

5. Infosys finally has a name to replace MD Ranganath. The software company has confirmed the appointment of Jayesh Sanghrajka as its interim Chief Financial Officer.

6. Uber has lost over $1 billion in the last quarter. The Silicon Valley giant has publicly reported a 27% fall in its booking in comparison to last year.

Here's the "news that entrepreneurs can use". Know what's trending in the Indian business world in 80 seconds.

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