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Good morning from the Financial Times. Today is Thursday, February 29th.

This is your F-T-News briefing.

Uber's CEO is in the big leagues now, and Adani has answered India's call to arms.

Plus McKinsey is in hot water over its links to the Chinese government.

I'm Mark Filipino and here's the news you need to start your day. Uber has hit a hundred and twenty billion dollar valuation and its CEO is being rewarded

generously for it.

Darakaz Roshahi just got about a hundred and thirty six million dollars in stock

options after hitting the performance target, the company's high

valuation seemed pretty out of reach the first few years after its initial public offering.

Uber struggled with tens of billions of dollars and losses.

But its share price jumped almost 150% in the past year.

That's because of Kazra Shahi cut costs and brought in new sources of

revenue. The new stock options put Kazra Shahi's pay on par with big tech CEOs

like Amazon's Andy Jassy and Alphabet's Sundar Pichai.

India just produced its first military surveillance drone.

The only thing is it wasn't made by India's military or its government,

but rather the huge private sector conglomerate Adani and an Israeli military producer called Elbit.

The partnership is an example of an Indian corporation that has answered Prime Minister Norengra Modi's call to build a world-class defense

industry, which is something India has struggled to do for years.

They've been very slow to develop an indigenous arms industry and relied for many, many decades after independence on imports from First the Soviet Union and now Russia.

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