Page 1432 - Company News
J&J, cancer victims ordered to start settlement talks in bankruptcy
A federal judge ordered a new round of settlement talks between Johnson & Johnson and lawyers who spurned the company's offer to pay $8.9 billion to end tens of thousands of cancer claims
 "J&J, cancer victims ordered to start settlement talks in bankruptcy")
Cognizant to focus on increasing presence in smaller Indian cities
International IT services company says it will lay off 3,500 employees and redistribute physical workplaces
 "Cognizant to focus on increasing presence in smaller Indian cities")
RIL gets nod from shareholders, creditors to demerge financial services arm
RSIL will be renamed Jio Financial Services Ltd (JFSL) and RIL shareholders will receive one share of JFSL for each share they own
 "RIL gets nod from shareholders, creditors to demerge financial services arm")
Tax evasion case: Xiaomi moves Karnataka High Court to challenge FD seizure
Xiaomi India's market share in the Indian handset industry has been steadily falling as a result of the legal problems
 "Tax evasion case: Xiaomi moves Karnataka High Court to challenge FD seizure")
Go First employees in a lurch, look for employment at Air India, IndiGO
Go has been facing financial challenges for a long time now. Earlier, it had sent its employees on long unpaid leaves
 "Go First employees in a lurch, look for employment at Air India, IndiGO")
Cognizant to lay off 3,500 employees in 2023 amid declining revenue
In the quarter ended March 31, Cognizant reported a margin of 14.6%, among the lowest in the industry
 "Cognizant to lay off 3,500 employees in 2023 amid declining revenue")
EV ride-hailing startup BluSmart Mobility raises $42 mn from BP, others
Investors include BP Ventures, the investment arm of energy giant BP Plc that holds 20% equity
 "EV ride-hailing startup BluSmart Mobility raises $42 mn from BP, others")
TCS to develop its own ChatGPT with focus on enterprise code generation
TCS is expected to release some of these solutions by the last quarter of this financial year
 "TCS to develop its own ChatGPT with focus on enterprise code generation")
Google announces blue verified checks for email senders to minimise scams
After Twitter, Google has now announced to display a Blue checkmark next to a sender's name to verify their identity and minimise scams, which is free at the moment
 "Google announces blue verified checks for email senders to minimise scams")
Icra downgrades SPCPL's rating to BBB+ on delay in securing working capital
The delay has impacted the engineering, procurement, and construction (EPC) operations in FY23, resulting in modest profitability and muted debt coverage metrics compared with earlier estimates
 "Icra downgrades SPCPL's rating to BBB+ on delay in securing working capital")
ACC, Nykaa, HDFC AMC and Muthoot Fin likely to be dropped from Nifty 100
Jindal Steel and Power, Punjab National Bank, TVS Motor, Tube Investments and Zydus Lifesciences are expected to get added to the index
 "ACC, Nykaa, HDFC AMC and Muthoot Fin likely to be dropped from Nifty 100")
IndusInd Bank likely to get added to MSCI during Aug rebalancing exercise
The addition will be a boost for the private sector lender's stock price as it could result in inflows of over $300 million (Rs 2,500 crore)
 "IndusInd Bank likely to get added to MSCI during Aug rebalancing exercise")
Pratt & Whitney's engine woes cost Go Air 47 years worth of flying time
Go Airlines was re-branded Go First ahead of a planned 36 billion rupee ($440 million) initial share sale last year
 "Pratt & Whitney's engine woes cost Go Air 47 years worth of flying time")
Airbus reports a drop in first-quarter profit, sales on slow deliveries
The world's largest planemaker has struggled to meet soaring demand for aircraft as travel rebounds from the Covid-19 pandemic
 "Airbus reports a drop in first-quarter profit, sales on slow deliveries")
REC Limited lists $750-mn green bonds on int'l stock exchanges at GIFT City
With this listing, the cumulative ESG labelled bonds listed on IFSC exchanges has crossed $10 billion," Srinivas said.
 "REC Limited lists $750-mn green bonds on int'l stock exchanges at GIFT City")
Vantage emerges highest bidder for SKS Power Generation with Rs 1,800 cr
The bid by Ahmedabad-based Torrent is a close second with a difference of just Rs 7 crore, said a banking source
 "Vantage emerges highest bidder for SKS Power Generation with Rs 1,800 cr")
IndiGo to begin flights to Singapore, Bangkok from Bhubaneswar next month
Low-cost carrier IndiGo on Wednesday announced it will commence flight services to Singapore and Bangkok from Bhubaneswar from June 3
 "IndiGo to begin flights to Singapore, Bangkok from Bhubaneswar next month")
Fair-trade regulator CCI approves for acquisition of Tower Vision India
Fair-trade regulator CCI on Wednesday granted approval for the acquisition of 100 per cent shareholding of Tower Vision India by Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd
 "Fair-trade regulator CCI approves for acquisition of Tower Vision India")
115 QCOs covering 493 products notified for compulsory BIS certification
A total of 115 quality control orders (QCOs) covering 493 products have been notified for compulsory Bureau of Indian Standards (BIS) certification by the respective line ministries
 "115 QCOs covering 493 products notified for compulsory BIS certification")
PESB recommends PM Prasad for Chairman, Managing Director of Coal India
The Public Enterprises Selection Board (PESB) has recommended the name of P M Prasad for the post of Chairman and Managing Director of Coal India Limited, an official said on Wednesday
 "PESB recommends PM Prasad for Chairman, Managing Director of Coal India")