Page 981 - Company News

Los Angeles Times fires 20% employees, largest in its 142-year-old history

Paper's owner Dr Patrick Soon-Shiong, defended the move, saying the organisation first needed to make progress towards building higher readership to make up for the heavy financial losses

Realme sells 100 mn smartphones in India in 5 yrs; to focus on branding now

This dual strategy of product innovation and branding upgrades will help the company stay relevant in the Indian market

Sony moves Singapore court against Zee for breaching merger pact: Report

Zee is likely to counter Sony's claims in the Singapore International Arbitration Centre, including the demand for a $90 million termination fee

SAP unveils restructuring plan to trim costs, move to affect 8,000 jobs

Separately, SAP reported a 5 per cent gain in fourth-quarter non-IFRS revenue to €8.47 billion ($9.2 billion)

Aster DM shareholders approve separation of firm's India, GCC businesses

Aster DM earlier announced plans to separate its India and Gulf businesses in a deal valued at $1 billion

BlackRock, Neuberger bought Adani bonds post Hindenburg bombshell

Although the figures don't capture all bondholders, they provide a window into investor activity as the securities sold off and later recouped many of their losses

Netflix gained 13 mn customers in 2023, posts best surge since pandemic

Shares of Netflix climbed as much as 8.9 per cent to $535.91 in extended trading after the earnings announcement

Jamshyd Godrej resigns as non-executive director of Godrej Properties

The Board of Directors of the company have taken note of resignation of directorship of Jamshyd Godrej, who is member of the Godrej family

Aster DM Healthcare shareholders approve proposal to hive off Gulf biz

Over 99 per cent of the votes polled were in favour of the deal

FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr

Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses

Northern Railways helps Maruti export Jimny cars to African countries

'This initiative will not only generate additional loading and revenue for the Railways, but it is also an environmentally friendly means of transporting automobiles by trains'

Airtel prepays Rs 8,325 cr to clear 2015 spectrum acquisition liabilities

Bharti Airtel won spectrum worth Rs 29,129.08 crore in the auctions that were held in March 2015

ICICI Bank stock shines in a dull market on good performance in Q3

The net advances grew by 18.5 per cent YoY and 3.9 per cent QoQ. Deposits stood at Rs 13.3 trillion, with CASA ratio at 39.4 per cent down 20 bps sequentially

40% of our FY25 investments to be in AI: Coforge CEO Sudhir Singh

The Noida headquartered company plans to invest in setting up new cloud infrastructure and AI studio at its campus

Zee nosedives 30% in worst single-day fall after Sony scraps deal

After the deal with Sony was terminated, nearly half a dozen brokerages downgraded Zee's stock while lowering the earnings multiple assigned to the cash-strapped company

CCI clears Tata Electronics acquisition of Wistron's iPhone assembly plant

Wistron Infocomm Manufacturing (India) operates an iPhone assembly plant near Bengaluru

HDFC Bank first lender to issue 20 million credit cards, shows data

HDFC Bank is the largest issuer of card issuers in the country, which commands over a fourth of the overall cards market in terms of numbers

Volume gains key for further rerating in Colgate-Palmolive India stock

Colgate-Palmolive (India) has been one of the top gainers in the consumer space since June 2023, enriching investors by 53 per cent in this period

SAEL secures $1 billion capital to fund its renewable energy portfolio

The event was attended by the Ambassador of Norway, Deputy Chief of Mission, United States, and other dignitaries

CCI clears merger of Fincare Small Finance Bank with AU Small Finance Bank

In October last year, the board of directors of AU Small Finance Bank (AU SFB) and that of Fincare Small Finance Bank (Fincare SFB) approved an all-stock merger of AU SFB and Fincare SFB