Page 1385 - Company News

Alibaba plans cloud computing unit spin-off; logistics arms to go public

Alibaba's board of directors approved the full spin-off of the cloud computing unit via a stock dividend distribution to shareholders, the company said

More startups to shed flab amid valuation bloat; layoffs 57% of CY22

Globally, 683 companies laid off 194,659 workers in 2023. This is already 18 per cent more than the 164,591 seen in 2022

Green energy to hold a third of REC's loan portfolio by 2030: CMD

The management also said its growing exposure to green energy sector, non-power sectors, such as infrastructure, logistics and irrigation aided its growth plans

Nazara's Nodwin Gaming raises $28 mn of equity investment from 5 investors

Funds will be utilised for IP development, geographic expansion and M&A

Coursera expands online learning, certificates, GenAI, hiring solutions

Coursera has formed 4 new partnerships, introduced a career-focussed degree programme and two university certificates, the statement stated

Developers log land purchases worth Rs 26,000 crore in last 17 months

Around 578 acres out of 2,181 acres, was acquired in the first five months of the calendar year 2023 (CY23) alone

Walmart Inc lifts annual sales, profit view on resilient consumer spending

Walmart has been keeping grocery prices low to fend off competition from Target Corp and Kroger, as Americans continue to struggle with paying high prices for food

Sony aims to expand creations rooted in Indian culture via merger with Zee

Shareholders of ZEEL had given their ascent to the merger last year in October weeks after fair trade regulator Competition Commission of India gave its conditional nod

Just 25% consumer, realty firms aware of ESG norms: Deloitte India survey

Deloitte India, in its survey report, has highlighted that despite Sebi implementing sustainability regulations, several mandated disclosures lack clear guidance on responses

In Tamil Nadu, Airtel surpasses 2-million customer mark on 5G network

Airtel was the first to roll-out 5G in the country and Chennai was one of the first eight cities to get ultrafast Airtel 5G Plus

ITC net profit rises 23.35% to Rs 5,175 crore in Q4FY23, beats estimates

The ITC stock closed at Rs 419.65 on the BSE, down 1.87 per cent

Sustainable fashion gets thrown a life jacket after PM wears upcycled sadri

This is the first company in India with end-to-end capabilities in the sector, starting from recycling and making yarn and fibre to value-added finished products

Online gaming platform Rooter raises $16 mn in funding led by Lightbox

Online gaming and esports content platform Rooter has raised USD 16 million (about Rs 131 crore) in a growth round led by Lightbox, the company said on Thursday

Alibaba Group misses revenue estimates, approves cloud unit spinoff

Alibaba on Thursday approved a full spinoff of the Cloud Intelligence Group via a stock dividend distribution to shareholders

Pfizer suspends sale of three antibiotics in India over technical issues

Investigating matter with contract manufacturer Astral Steritech, says pharma firm

PNB Housing Finance Q4 results: Consolidated profit rises 64% to Rs 279 cr

The company's consolidated interest income rose by 22.32 per cent to Rs 1,589 crore for the March quarter as compared to Rs 1,299 crore in the year-ago period

Paytm partners with SBI Card, NPCI to launch co-branded RuPay credit cards

Payments and financial services company Paytm on Thursday announced that it has partnered with SBI Card to launch Paytm SBI Card on the RuPay network

Deutsche Bank to pay $75 mn to settle lawsuit from Epstein victims: Lawyers

Deutsche Bank had previously joined JPMorgan Chase, which is also facing a lawsuit over its ties to Epstein, in fighting the allegations

Non-skippable 30-sec ads, new pause button on TV, announces YouTube

YouTube is yet to inform when these changes will take place and whether these changes will affect global markets

Integrated financial services platform airpay now live on ONDC: Report

The company said the initiative will enable ONDC to understand and implement key consumer and partner learnings