Page 3135 - Company News
Google faces $5 bn lawsuit in US for illegally tracking internet usage
Google "cannot continue to engage in the covert and unauthorized data collection from virtually every American with a computer or phone," the complaint says
 "Google faces $5 bn lawsuit in US for illegally tracking internet usage")
Going back to basics: Make labour laws simple, protect workers' rights
It's not just the inability to downsize that constrains it but opaque hiring practices and the illogic of size-based legal thresholds that encourage companies to stay small
 "Going back to basics: Make labour laws simple, protect workers' rights")
Facebook strikes global licensing deal with music label Saregama
Saregama had announced a partnership with music streaming service Spotify last month
 "Facebook strikes global licensing deal with music label Saregama")
Facebook to acquire 9.9% stake in Jio Platforms via Jaadhu Holdings
In April, Facebook had announced an investment of $ 5.7 billion (Rs 43,574 crore) in Jio Platforms.
 "Facebook to acquire 9.9% stake in Jio Platforms via Jaadhu Holdings")
Suitors for Jet Airways narrow down to four from 12, final list on June 10
RP is set to present resolution plan, if any, to adjudicating authority on July 23
 "Suitors for Jet Airways narrow down to four from 12, final list on June 10")
Air passenger traffic in India may fall 45-50% in FY21 over Covid-19: ICRA
It also said the aviation infrastructure industry is amongst the most severely impacted by the Covid-19 crisis and the setback is expected to be substantial in the near term
 "Air passenger traffic in India may fall 45-50% in FY21 over Covid-19: ICRA")
Ready to fund stalled projects of Amrapali Group: SBICAP to Supreme Court
A bench of Justices Arun Mishra and U U Lalit was told by counsel appearing for SBICAP Ventures that it would apprise the court about its concrete proposal by next week
 "Ready to fund stalled projects of Amrapali Group: SBICAP to Supreme Court")
CPCL plans 9 MMTPA expansion at Cauvery Basin Refinery on JV basis
IOCL and CPCL to jointly hold 50% stake in JV, rest to come from financial, strategic and public investors
 "CPCL plans 9 MMTPA expansion at Cauvery Basin Refinery on JV basis")
Air India to operate 75 passenger flights to US, Canada between June 9 - 30
Domestic passenger flights resumed in India from May 25 after a gap of two months due to the coronavirus-triggered lockdown
 "Air India to operate 75 passenger flights to US, Canada between June 9 - 30")
Global air passenger travel plunges 94.3% in April due to Covid-19: IATA
"This is a rate of decline never seen in the history of IATA's traffic series, which dates back to 1990," said a press release by the organisation that has around 300 airlines as its members
 "Global air passenger travel plunges 94.3% in April due to Covid-19: IATA")
State-owned NLC India raises Rs 1,200 cr by issuing commercial papers
The commercial papers were issued in favour of investors like State Bank of India and ICICI Bank.
 "State-owned NLC India raises Rs 1,200 cr by issuing commercial papers")
Amara Raja Group announces pay cut to employees amid Covid-19 crisis
Amara Raja Group Promoters holding the office of Managing Director in various businesses have voluntarily agreed for up to 50 per cent reduction in their total remuneration for the current fiscal
 "Amara Raja Group announces pay cut to employees amid Covid-19 crisis")
Cholamandalam PBT down 88% to Rs 57 cr on one-time provision of Rs 504 cr
Disbursements were down 36% in Q4 due to Covid-19 lockdown, due to which full-year disbursement dropped by 4%
 "Cholamandalam PBT down 88% to Rs 57 cr on one-time provision of Rs 504 cr")
Aurobindo Pharma Q4 PBT rises 32% to Rs1077.51 cr over higher revenue
Revenues from operations for the quarter under review registered 16.4% growth at Rs 6158.43 crore as compared to Rs 5324.47 crore in the year ago period
 "Aurobindo Pharma Q4 PBT rises 32% to Rs1077.51 cr over higher revenue")
GVK Group cuts salaries by up to 30% from May as Covid-19 impacts business
The diversified group, which is into energy, resources, airports, transportation, hospitality and life sciences sectors, has around 1,800 workforce
 "GVK Group cuts salaries by up to 30% from May as Covid-19 impacts business")
Trai removes clause requiring 50 paise charge on SMS beyond 100 per day
This means operators will have a free hand in fixing charges for such bulk SMSes by non-commercial users, and Trai's practice of forbearance will extend to such messages too, an official explained
 "Trai removes clause requiring 50 paise charge on SMS beyond 100 per day")
Covid-19 slows Britannia's total foods journey as biscuits get priority
Plans to scale up its croissants and salted snacks offerings put on backburner
 "Covid-19 slows Britannia's total foods journey as biscuits get priority")
SAIL stops operations at corporate office after staff test corona positive
Infected employees asked to home quarantine; govt-appointed agency engaged to do fumigation at firm's headquarters at Delhi's Lodhi Road
 "SAIL stops operations at corporate office after staff test corona positive")
Covid-19 to accelerate adoption of automation technologies, says Nasscom
The report cited sewing machine operators, graders and sorters of agricultural products as examples of completely automatable occupations
 "Covid-19 to accelerate adoption of automation technologies, says Nasscom")
Coal India output falls 11% to 41 MT in May, coal offtake up at 39.95 MT
Coal India accounts for over 80 per cent of domestic fuel output
 "Coal India output falls 11% to 41 MT in May, coal offtake up at 39.95 MT")