Page 1388 - Company News
Amazon to invest $12.7 billion in India cloud infrastructure by 2030
Amazon.com Inc. plans to invest $12.7 billion in cloud infrastructure in India by 2030, joining other global tech giants in betting on growth in the South Asian nation's digital economy
 "Amazon to invest $12.7 billion in India cloud infrastructure by 2030")
Tech job losses on course to exceed 2022 number, already at 57% of last yr
Some 8,134 employees have reportedly lost their jobs in the country as of May 2023
 "Tech job losses on course to exceed 2022 number, already at 57% of last yr")
Go First tells pilots to resume work from May 27, training from tomorrow
It is mandatory to do a refresher training as the pilots haven't been flying since 3 May, according to media reports
 "Go First tells pilots to resume work from May 27, training from tomorrow")
WeWork plunges as 'disruptive' CEO change prompts downgrade: Report
Mathrani's departure is the latest blow for WeWork stock, down 79% this year, as the company has struggled to cut costs and drive earnings
 "WeWork plunges as 'disruptive' CEO change prompts downgrade: Report")
Sebi slaps Rs 50 lakh fine on 10 firms for indulging in non-genuine trades
Capital markets regulator Sebi on Wednesday levied fines totalling Rs 50 lakh on ten entities for indulging in non-genuine trades in the illiquid stock options segment on BSE
 "Sebi slaps Rs 50 lakh fine on 10 firms for indulging in non-genuine trades")
Airtel to complete 5G roll out in urban area this year, says official
Bharti Airtel expects to complete 5G rollout in urban areas and some key rural pockets this year and expects the investment in networks to hover around Rs 28,500 crore, a senior official said
 "Airtel to complete 5G roll out in urban area this year, says official")
Compensating employees with money cuts attrition rate to 5%: Report
The report was conducted to study the impact of research and recognition on attrition in India in 2022. Over 100 firms and one million employees participated in the project
 "Compensating employees with money cuts attrition rate to 5%: Report")
Promoter of Manyavar brand likely to sell 7% stake for Rs 1,962 crore
"The offer is being undertaken by the sellers, for achieving the minimum public shareholding of the company...," it said
 "Promoter of Manyavar brand likely to sell 7% stake for Rs 1,962 crore")
Google to take 'necessary steps' to enforce new in-app billing policy
The Competition Commission of India (CCI) in October 2022 directed the company to make significant changes to its Play Store policies after it found several anti-competitive practices on the platform
 "Google to take 'necessary steps' to enforce new in-app billing policy")
NHPC bags 200MW project worth Rs 1,007.6 cr from Urja Vikas Nigam
State-run hydro power giant NHPC on Wednesday said that it has received a letter of intent to build a 200 MW solar power project worth Rs 1007.60 crore from Gujarat Urja Vikas Nigam
 "NHPC bags 200MW project worth Rs 1,007.6 cr from Urja Vikas Nigam")
Google says in compliance with CCI order, pushes ahead with in-app billing
Google on Wednesday said its Google Play's payments policy is compliant with the anti-trust watchdog CCI's order and it is pushing ahead with plans to enforce the policy in the country
 "Google says in compliance with CCI order, pushes ahead with in-app billing")
Bourses freeze Orchid Pharma promoters' shares for failing to meet norms
In a regulatory filing, the company said its directors have been informed that they shall not hold any new position as director in any other listed entity.
 "Bourses freeze Orchid Pharma promoters' shares for failing to meet norms")
Ex-Jet Airways executive Sanjiv Kapoor joins airline service Saudia Group
Aviation industry veteran Sanjiv Kapoor, who stepped down as the CEO-Designate of Jet Airways last month, has joined Saudia Group
 "Ex-Jet Airways executive Sanjiv Kapoor joins airline service Saudia Group")
Auto parts firm Pricol moves CCI over Minda plan to buy 24.5% stake
Battle between the two firms began this February when Minda Corp bought 15.7% in Pricol for Rs 400 crore in the open market. Early this month, Minda sought CCI nod to buy 24.5% more in Pricol
 "Auto parts firm Pricol moves CCI over Minda plan to buy 24.5% stake")
Vedant Fashions promoter plans to sell 7% stake for Rs 1,962 crore
Vedant Fashions Ltd (VFL), which owns the ethnic wear brand Manyavar, on Wednesday said one of its promoters plans to sell up to 7 per cent stake in the company for at least Rs 1,962 crore
 "Vedant Fashions promoter plans to sell 7% stake for Rs 1,962 crore")
Walmart-owned Flipkart sees two top-level exits, both after eight years
Early this year, Flipkart told staff it won't be handing out increments to senior leadership in a 'difficult decision' that was expected to impact 4,500 personnel
 "Walmart-owned Flipkart sees two top-level exits, both after eight years")
Space Mantra, five other firms lead race to acquire Future Retail
The CoC had provided two options in the EoI and the last date for submission was April 7
 "Space Mantra, five other firms lead race to acquire Future Retail")
Group 108 forays into NCR realty market, plans to invest over Rs 2000 cr
The project has a total built-up area of 40 lakh square feet and saleable area of 32 lakh square feet
 "Group 108 forays into NCR realty market, plans to invest over Rs 2000 cr")
Hinduja group patriarch Srichand P Hinduja passes away at 87 in London
In the '80s, the brothers were accused of taking commission from manufacturers of Bofors guns, a charge the high court rejected
 "Hinduja group patriarch Srichand P Hinduja passes away at 87 in London")
'Govt to issue notices to debar more cos found violating FAME-II norms'
The government will issue notices to more companies that have been found violating localisation norms under the Rs 10,000-crore FAME-II scheme seeking to debar them
 "'Govt to issue notices to debar more cos found violating FAME-II norms'")