Page 1391 - Company News
IBM confirms acquisition of Polar Security reportedly for $60 million
Software giant IBM has acquired automated cloud data security and compliance provider Polar Security for an undisclosed sum. Reports claimed that the deal was valued at about $60 million
 "IBM confirms acquisition of Polar Security reportedly for $60 million")
Apple's App Store stopped over $2 bn in fraudulent transactions in 2022
Apple has announced that its App Store prevented over $2.09 bn in potentially fraudulent transactions in 2022, blocking nearly 3.9 mn stolen credit cards from being used to make purchases
 "Apple's App Store stopped over $2 bn in fraudulent transactions in 2022")
If AI goes wrong, it can go quite wrong: OpenAI CEO tells US lawmakers
Sam Altman, CEO of Microsoft-backed OpenAI, has admitted that if generative AI technology goes wrong, it can go quite wrong, as US senators expressed their fears about AI chatbots like ChatGPT
 "If AI goes wrong, it can go quite wrong: OpenAI CEO tells US lawmakers")
Rosneft planning to build greenfield refinery in India with state refiners
Indian Oil Corporation and Bharat Petroleum are expected to be likely candidates for the JV
 "Rosneft planning to build greenfield refinery in India with state refiners")
Q4 profit more than doubled on soaring demand, says Oberoi Realty
Indian real-estate developer Oberoi Realty Ltd said on Tuesday fourth-quarter profit more than doubled, boosted by strong bookings as the demand for housing saw an upswing in the country
 "Q4 profit more than doubled on soaring demand, says Oberoi Realty")
Jindal Steel's Q4 profit down 70% as prices fall, cost of raw material rise
Jindal Steel and Power Ltd reported a 69.5% fall in quarterly profit on Tuesday, hurt by lower steel prices and higher costs of raw materials like iron.
 "Jindal Steel's Q4 profit down 70% as prices fall, cost of raw material rise")
HDFC Life declares highest ever bonus of Rs 3,660 cr on participating plans
2.31 million policyholders are eligible for this bonus
 "HDFC Life declares highest ever bonus of Rs 3,660 cr on participating plans")
LIC Housing Finance Q4 result: PAT up 5% to Rs 1,180 cr, dividend declared
LIC Housing Finance reported a jump of 5.5% in its consolidated net profit, which came in at Rs 1,180.3 crore, as against Rs 1,118.6 crore in the corresponding period of the previous year
 "LIC Housing Finance Q4 result: PAT up 5% to Rs 1,180 cr, dividend declared")
With growing user base, ONDC can start a price-war in ecomm market: Report
However, the new e-commerce platform has a long way to go before it can match the technological and service capabilities of companies like Amazon, Flipkart, Swiggy, Zomato, and others
 "With growing user base, ONDC can start a price-war in ecomm market: Report")
Go First: Aircraft lessor moves Delhi HC to take back its leased plane
So far this month, several lessors have approached aviation regulator DGCA for deregistration and repossession of Go First's 45 planes
 "Go First: Aircraft lessor moves Delhi HC to take back its leased plane")
VIL still needs additional liquidity to survive, says Vodafone Group
Vodafone Group owns 32.29% stake in VIL while Aditya Birla group owns 18.07% stake in VIL after the government picked up 33% stake in the loss-making company
 "VIL still needs additional liquidity to survive, says Vodafone Group")
US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn
In January last year, Swiggy raised $700 million in a funding round that was led by Invesco and saw participation from a host of investors including Baron Capital Group
 "US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn")
Chemplast Sanmar Q4 results: Net profit declines 80% to Rs 46 crore
For the full year, revenues were lower by 16% as compared to the last year - however, sales volumes of almost all the products were higher on a Y-o-Y basis
 "Chemplast Sanmar Q4 results: Net profit declines 80% to Rs 46 crore")
City gas distributors likely to see limited upside in the near-term
Some analysts believe the new APM formula provides only short-term respite and demand may not revive very much
 "City gas distributors likely to see limited upside in the near-term")
Tata Sons set to earn record dividend worth nearly Rs 33,350 cr in FY23
Rs 33K-cr payout by group firms up 130% YoY
 "Tata Sons set to earn record dividend worth nearly Rs 33,350 cr in FY23")
Paytm appoints Bhavesh Gupta as COO, President amid profitability push
The fintech giant, in its Q4 results for FY23, managed to narrow its losses to Rs 168 crore. This compares to losses of Rs 392 crore a quarter ago and Rs 761 crore in the year-ago period
 "Paytm appoints Bhavesh Gupta as COO, President amid profitability push")
Bank of Baroda makes Rs 500 crore provision for Go First exposure
Out of this exposure, about Rs 1,000 crore is collateralised by tangible securities and by way of corporate guarantees
 "Bank of Baroda makes Rs 500 crore provision for Go First exposure")
73% job seekers prefer large corporates over start-ups, says report
The report further stated that only 27 per cent of employees would still consider switching to start-ups for career growth
 "73% job seekers prefer large corporates over start-ups, says report")
Engine Leasing Finance moves to NCLAT against Go First's insolvency
The appellate tribunal said it will pass the order on May 22 along with the other three petitions
 "Engine Leasing Finance moves to NCLAT against Go First's insolvency")
ZestMoney sets up new leadership team, a day after founders resign
ZestMoney's founders have resigned, several weeks after fintech giant PhonePe decided to halt its proposed acquisition of the buy now, pay later (BNPL) platform
 "ZestMoney sets up new leadership team, a day after founders resign")