Page 963 - Company News

H&M to shut a quarter of Spanish stores and lay off 588 employees

The company will carry out the layoffs for unspecified organizational, productive and economic reasons, unions CCOO and UGT said in a joint statement

Zee Entertainment mulls filing counterclaims against Sony India in SIAC

Legal experts say Zee took several steps to merge the companies which resulted in litigation costs

CMS Info Systems eyes buys in fintech, financial inclusion spaces

While scanning for inorganic growth opportunities, the company is also incubating some businesses like collections and logistics services for bullion

Disney Star mulls legal action against ZEEL for backing out from deal

According to the sources, this is a fallout of the collapse of its merger deal with Sony

Tesla to recall 200,000 vehicles in US to fix rearview glitch: Report

The development comes less than two months after the company recalled nearly all its vehicles in the United States to install new safeguards in its Autopilot advanced driver-assistance system

American Express misses Q4 profit estimates on higher loan loss provisions

Eleven rate hikes by the U.S. Federal Reserve have made borrowing expensive and increased risks of more defaults, especially as credit card debt is typically costlier than other loans

Oxford terminates deal with TCS after technical glitch in admission test

In April 2023, the UK-based institution selected TCS iON, the learning and assessments-focused unit of TCS, for conducting the admission tests, replacing Cambridge Admissions Assessment Testing

Akasa Air buys 300 CFM engines at list prices of $5 billion: Report

The contract for Leap-1B engines, spares, and services is estimated to be worth $5 billion at list prices, said the report

Denim maker Levi Strauss & Co. to reduce at least 10% of its workforce

Levi's has about 20,000 workers globally, with roughly 5,000 corporate employees. The layoffs are expected to take place in the first half of 2024

Salesforce to lay off around 700 employees across company: Report

With this, Salesforce has become the fourth tech major to trim its workforce in 2024 after Google, Twitch and Amazon

Adani Group to buy 6 Pilatus PC-24 business jets for top executives: Report

The deal would cost Adani Group over Rs 300 crore for all six aircraft since the purchase is from the resale market

Cipla board rejig: Samina Hamied to step down from executive role

Balram Bhargava appointed as independent director on board

DLF to buy 29 acres land in Gurugram for over Rs 825 cr for housing project

Realty major DLF Ltd will acquire 29 acres of land in Gurugram from IREO to build a housing project after taking over bad loans worth Rs 825 crore related to the land

Reliance Jio, OnePlus join hands to set up 5G innovaion lab in India

Telecom major Reliance Jio and Chinese smartphone company OnePlus have joined hands to set up a 5G innovation lab in India.

Four companies get Sebi's approval to raise funds by launching IPOs

Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator Sebi's approval to raise funds through initial public offerings

Walt Disney's India unit market valuation halves in Reliance merger talks

After weeks of negotiations following a non-binding pact with Ambani's Reliance Industries Ltd. to merge their entertainment business

Zee walks back on $1.4 bn TV cricket rights deal with Disney: Report

Zee in August told Indian stock exchanges it had signed a strategic licence agreement with Disney to take over certain International Cricket Council TV broadcast rights

US lenders take Byju's to NCLT to initiate insolvency proceedings

The lenders said this was done after over 16 months of efforts on behalf of the Ad Hoc Group to restructure the loans

Tesla expects slowing of growth before new EV model launch in 2025: Musk

Tesla started slashing the prices of its cars in late 2022, igniting a price war that singed US rivals including Ford, who have all slowed EV production

Sajjan Jindal-owned JSW forays into defence manufacturing business

JSW Group's entry into the defence business reciprocates the Indian Government's confidence in providing impetus through the private sector's participation in building indigenous defence capabilities