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IBM to buy software firm Apptio for $4.6 bn to bolster cloud offering

IBM said it will finance the transaction with cash on hand and expects the deal to close in the latter half of 2023

Iron ore miner NMDC plans $61 mn investment to foray into gold mining

NMDC is "on track" to secure a lease for the Chigargunta-Bisanatham gold block soon, having signed a letter of intent over the project with the state government late last year

Pfizer to discontinue development of obesity drug due to side effects

Pfizer has been developing treatments to target weight loss in diabetes and obesity patients, as it races to target a market estimated to reach $100 billion by the end the of decade

Pernod Ricard's India head of corporate affairs Yashika Singh quits

Singh, who headed corporate affairs for the Indian market, with focus on regulatory matters, including related to manufacturing and government policy, resigned last week

Recession risk, rate rises drive down private equity deals to 4-yr low

Since the start of the year, buyout firms have been unable to secure cheap debt and have had to draw on their own funds, marking a departure from traditional leveraged buyouts

Infosys signs $454 mn deal with Danske Bank to boost digital transformation

The deal is valued at $454 million for a period of 5 years with an option to renew for one additional year for a maximum of three times

Russia back in financial investors' focus after the weekend mutiny

China supports Russia in maintaining its national stability, the country's foreign ministry said

Russia turmoil could take months to play out: US Secretary of State Blinken

Blinken in series of television interviews said tensions that led to aborted mutiny by forces led by Yevgeny had been rising for months and that turmoil could affect Moscow's capabilities in Ukraine

Pakistan's parliament approves revised 2023-24 budget to clinch IMF deal

The IMF in mid-June expressed dissatisfaction with the country's initial budget, saying it was a missed opportunity to broaden the tax base in a more progressive way

BIS warns the world economy at critical juncture in inflation fight

Despite relentless rate hikes over last 18 months, inflation in many top economies remains high, while jump in borrowing costs triggered serious banking collapses since financial crisis 15 years ago

Edtech major Byju's tells investors it will file 2022 earnings by Sept

Deloitte said on Thursday it was severing ties with Byju's, one of India's most successful startups, over its "long-delayed" financial statements for the year ended March 2022

Byju's staff say morale waning amid turmoil amid layoffs at edtech firm

Byju's has already let go of several thousand employees this year due to slowing demand and it is locked in a legal battle with its lenders and faces regulatory scrutiny

Ambitious plans for US-India technology sharing face export rules hurdle

Standing in the way are strict U.S. rules governing export of defense technology, including International Traffic in Arms Regulations (ITAR)

India's forex reserves rise to $596.10 billion in week to June 16

The rupee had risen 0.6% in the week ending June 16, logging its best week in over three months. It traded in a range of 81.8575 to 82.4750 during that week

Paris summit: Development banks can boost lending by $200 billion

"We ... expect an overall increase of $200 billion of MDBs' lending capacity over the next ten years by optimising their balance sheets and taking more risks," the summit's final statement said

Goldman Sachs likely to take big writedown on GreenSky acquisition: Report

Shares of Goldman fell 1.4% in morning trading

Regulator IRDAI approves transfer of HDFC Life shares to HDFC Bank

HDFC announced a $40 billion deal last year to merge with the top private lender

Byju's early investor Pai calls for better governance after auditor exit

Deloitte disclosed on Thursday that it was resigning as auditor because Byju's had delayed providing financial statements for 2021-22

Edtech major Byju's in talks with investors who quit board to reconsider

Byju's investors had in recent months raised concerns with the company's leadership related to audit delays and how it dealt with issues relating to its lenders, one source said

Corporate affairs ministry ordered inspection of Byju's last week: Report

The ministry has taken cognisance of various corporate governance lapses at Byju's, the television channel reported