Top headlines: Musk to buy Twitter, LIC board to meet today to fix IPO date

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On Monday, Tesla CEO Elon Musk made a deal to buy Twitter Inc for $44 billionin a transaction that will shift control of the social media platform. The deal has ended Twitter's run as a public company since its 2013 initial public offering. Meanwhile, the board of Life Insurance Corporation of India will meet today to consider the launch dates for the company’s initial public offering. More on these stories down below.

Elon Musk clinches deal to buy Twitter for $44 billion

Elon Musk clinched a deal to buy Twitter Inc for $44 billion on Monday in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.

Discussions over the deal, which last week appeared uncertain, accelerated over the weekend after Musk wooed Twitter shareholders with financing details of his offer. Read more here

Most large global investors may give LIC's initial public offering a miss

Most large global investors that the Centre was wooing for Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO) such as those who haven't ever anchored any Indian IPO may give the issue a miss.

But in their interactions with the Centre, they have committed to consider investing in the insurer’s future offerings, based on its performance as a listed entity. Read more here

LIC board to meet Tuesday for IPO dates, issue likely opens May 4

The board of Life Insurance Corporation of India (LIC) will meet Tuesday to consider the launch dates for the company’s initial public offering (IPO). The meeting will also consider the discount to be offered to policyholders, employees and retail shareholders.

The board will consider the proposal of the issue opening date of May 4 and closing date of May 9, an official said. The reservation for the insurer’s employees would also be taken up by the insurer’s board. Read more here

TCS, Infosys come to terms with reality of real-time recruiting

Tata Consultancy Services, India’s largest software exporter, hired 100,000 freshers in the financial year 2021-22, more than in any other year. That means an average of 8,300 trainees joining the company every month. This is not merely a mathematical calculation: hiring of freshers at the top IT companies is no longer a compressed affair confined to the campus season.

The unprecedented attrition has made sure that hiring is an ongoing concern at TCS, spread over large parts of the year. Read more here

Inflation is No.1 concern for India Inc: CII president T V Narendran

T V Narendran, president of industry chamber Confederation of Indian Industry (CII) and Tata Steel chief executive officer and managing director, believes that greater emphasis on skilling will help in improving employment in the country. In conversation with Arup Roychoudhury, Narendran says that capex will pick up, especially in sectors like mining, logistics, and new energy. Read the interview here