Page 102 - Companies

Ex-Theranos president Ramesh Balwani gets 13-year prison term in fraud case

Former Theranos Inc President and Chief Operating Officer Ramesh "Sunny" Balwani was sentenced to 13 years in prison for defrauding investors and patients of the company

Sebi issues Rs 6.42 cr demand notice to Sahara group in OFCD issuance case

Sebi on Wednesday sent a notice to Sahara Group firm, its chief Subrata Roy and others asking them to pay Rs 6.42 crore within 15 days in a case pertaining to flouting regulatory norms. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi). The regulator, in its order in June, levied a fine totalling Rs 6 crore on five entities -- Sahara India Real Estate Corporation (now known as Sahara Commodity Services Corporation), Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava -- for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs). The case relates to issuance of OFCDs by Sahara India Real Estate Corporation and Sahara Housing Investment Corporation during 2008-2009. They raised money through public issue of securities by issuing OFCDs without following t

NARC's offer for Srei companies not to be backed by govt guarantees

The NARC has offered an upfront cash payment of Rs 2,100 crore and Rs 3,500 crore payable in deferred instruments

Gig workforce to add 9-11 million jobs by 2025 in India, says report

With more and more companies preferring to hire employees on project basis, a report has revealed that there is likely to be 90-110 lakh additions to the gig workforce by 2025, a report said on Wednesday. The gig economy has been one of the most pivotal economic shifts in a long time and people are choosing gig jobs because it works with their lifestyle, they can choose when and how much they work, or it allows them to earn money between jobs, global job site Indeed said in the report. According to the report, companies have also started investing in gig work platforms and processes, which indicates how integral they are to the future of jobs growth in India. A majority of the employers surveyed (58 per cent) estimate the gig workforce to grow to 90-110 lakh, or even exceed this number by 2025, the report revealed. Gig workers are freelancers or contractors who work independently, typically on a short-term basis for multiple clients. "With the emergence of app-based models for rol

Edtech firm Vedantu lays off 385 employees in 4th job cut round this year

Layoffs have happened across sales, HR, and content teams which, according to the company sources, is part of an aggressive measure to reduce excess burn, thus prioritising profitability over growth

Companies see gain in CSR, want GST on initiatives removed: Report

Legally mandated measure seen helping business in improving labour productivity

Byju's seeks easier terms on $1.2 bn loan as it struggles with losses

Byju's, valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors

A 4-day workweek may find global acceptance but face roadblocks in India

Some Indian employees would prefer a 4-day workweek, but not everyone buys the idea, says a recent study

Elon Musk slams San Francisco for probe of bedrooms at Twitter headquarters

Twitter in recent weeks has turned several conference rooms at the office into makeshift bedrooms, complete with furniture like bedside tables and armchairs

PepsiCo to lay off 'hundreds of workers' at New York headquarters: Report

It is being done 'to simplify the organization so we can operate more efficiently', PepsiCo said in a memo to its employees

Slack CEO, co-founder Stewart Butterfield to quit Salesforce in Jan 2023

CEO and co-founder of enterprise messaging platform Slack, Stewart Butterfield announced that he is leaving Salesforce in January 2023

Price war begins for Novartis cardiac drug as JB Pharma cuts rate by 50%

Novartis' blockbuster drug is set to lose patent in Jan; JB Pharma, one of the four marketers in India of generi versions, has slashed the price of its brand Azmarda to Rs 39.6 a tablet

Vodafone CEO Nick Read to step down from the post by end of month

The mobile group's chief financial officer Margherita Della Valle will take over as interim group chief executive, Vodafone said

Air India leases 6 more planes to expand international flight operations

The 30 planes leased in September are expected to be inducted in the airline's fleet by 2023-end and the other 6 by June 2023

Firms' PAN to be identifier for govt single window clearance system

PAN database has relevant information about companies, says commerce minister Piyush Goyal

Shreehas Tambe elevated as MD & CEO of Biocon Biologics effective Monday

He was earlier the firm's deputy CEO; Outgoing MD Arun Chandavarkar to remain on co Board

Apple to soon overtake Samsung as India's top smartphone exporter: Report

From a minuscule share in India's phone exports a year ago, Apple's share has risen to $2.2 billion during April and October

Amazon may lay off up to 20,000 employees to streamline costs: Report

In the last few days, Amazon has reportedly asked the managers to identify performance problems among the employees

These Chinese carmakers bought their own ships to make exports smooth

With the vessels in question not expected to come online for several years yet, it's a bold bet on lasting global consumer demand for Chinese cars

Adani poised to be largest shareholder in NDTV as open offer subscribed 32%

Billionaire Gautam Adani's group has found investors willing to sell over 53 lakh shares of NDTV despite the deep discount to the stock's current trading price, giving it the rights - which it may or may not exercise - to nominate a chairman of the broadcaster. The open offer, made after Adani group acquired a little known firm that gave it an indirect holding over 29.18 per cent stake in New Delhi Television (NDTV), closes on December 5, according to a stock exchange notification. Against the offer to buy 1.67 crore shares, or 26 per cent of equity - from NDTV's minority investors at a price of Rs 294 apiece, Adani group has received offers for 53.27 lakh shares, according to data available on the National Stock Exchange (NSE) website. Corporate investors have offered the most at 39.34 lakh shares while retail investors have offered a little over 7 lakh shares. Qualified institutional buyers (QIBs) have tendered 6.86 lakh shares, according to the NSE data which did not identify ...