Page 106 - Companies

Billionaire Gautam Adani's firm weighs $1.8 bn fundraise in new shares

Billionaire Gautam Adani's conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year

Wipro becomes 1st Indian IT firm to allow Europe employees to form union

Wipro's employees that have been allowed to unionise belong to 13 countries including France, Sweden, Finland and Germany

'Substantial amount' of assets has been stolen, say FTX lawyers

Lawyers for FTX disclosed Tuesday that a "substantial amount" of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back. The admission came during FTX's first court appearance since the company filed for bankruptcy protection on November 11. Such hearings typically happen days after a filing, but this one was delayed because FTX's collapse came suddenly and management kept few if any records. "This company was run by inexperienced, unsophisticated and potentially personally compromised individuals," said James Bromley, a partner with Sullivan & Cromwell, the law firm hired by FTX's debt holders to navigate the company through bankruptcy. "It is one of the most abrupt and difficult company collapses in the history of corporate America." FTX, short billions of dollars, sought bankruptcy protection after the exchange experienced the crypto equivalent of a bank run. The company ...

20-minute glitch on Zerodha app; users unable to view, modify orders

Company says limited group of customers impacted; Trade execution unaffected all the while

Vedanta Group notifies third interim dividend of Rs 17.50 per share

Vedanta Group approved the third interim dividend of Rs 17.50 per share or 1750 per cent for the financial year 2022-23, on Tuesday November 2022

Fashion & beauty platform Nykaa announces CFO Arvind Agarwal's resignation

The FSN E-Commerce Ventures, that runs the fashion and beauty platform Nykaa, announced the resignation of its chief financial officer (CFO) Arvind Agarwal today on November 22

Jio Financial Services could become fifth largest fin service entity: Study

Reliance firm can disrupt payments business and become a threat to other fintech models, say analysts

'Boomerang CEOs' don't always work out; Disney hopes Iger bucks trend

During Bob Iger's first tenure from 2005 to 2020, Disney's annualised shareholder returns were more than 14%, well above its rival Comcast Corp and the broader stock market

OPPO India partners with Skit.ai to launch AI voicebot for customer support

With this implementation, Skit.ai claims its Augmented Voice Intelligence Platform (AVIP) will respond to all OPPO customer queries after business hours, with instant responses and zero waiting time

When Disney decided to dump its CEO Bob Chapek, the change happened fast

While Chapek's rise to the CEO spot in February of 2020 came as a surprise to many, his departure this week was even more shocking

Bob Iger to receive $27 million yearly for return as Walt Disney CEO

Iger will receive a base salary of $1 mn and a bonus equal to that amount, according to a filing by the company on Monday. In addition, he'll receive stock awards with target value of $25 mn each year

Twitter influences some people's jobs but it isn't helping your career

In an era when all workers are supposed to sustain a personal brand that in theory will insulate us from job losses, something important could be lost if the site disappears

Slow and poor recovery of avoidance transactions, shows IBC data

Slow progress: Recovery of avoidance transactions less than 0.3%

Export opportunities limited right now: JSW Steel's Seshagiri Rao

Withdrawal of export duty may not increase volumes will boost sentiment, he says

Aditya Birla Capital to seek regulator role in RCap resolution process

Warns it will seek intervention if RCap's Administrator ignores its demand for additional info on the company

Clean Electric raises $ 2.2 million funding round led by Kalaari Capital

Energy storage solutions startup Clean Electric on Monday said it has raised USD 2.2 million (about Rs 18 crore) in a funding round led by early-stage venture capital firm Kalaari Capital. Besides, Climate Angels, which invests in early-stage pollution reduction and climate tech startups, has also invested in the company along with the participation of LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation in the seed funding round, the startup said in a statement. The company plans to set up a manufacturing facility in Pune to produce 5,000 battery packs per month with the funding, it said. Also, the funds will also be utilised for expanding R&D, sales and operations teams, apart from developing new products around faster charging, renewable energy storage, and battery swapping, it added. The startup said it has built liquid-cooled battery solutions for two-wheeler, three-wheeler, and battery swapping applications.

Diamond Power Infra seeks shareholders' nod to raise borrowing limit

Diamond Power Infrastructure will seek shareholders' approval to raise its borrowing limit to Rs 3,000 crore in its annual general meeting on December 14, according to a regulatory filing. It company requires to borrow funds from time to time to meet both its short and long-term business objectives from various external agencies like banks, financial institutions, bodies corporate, individuals or other kinds of lenders. The total amount of such borrowings as well as the outstanding at any time cannot exceed the aggregate of paid-up capital and free reserves of the company, except with the consent of the members as per Companies Act 2013, it explained. The company felt that the existing limit is not adequate and needs enhancement, accordingly, the resolution has been proposed to increase the borrowing limit to Rs 3,000 crore, the filing said. Its Board of Directors recommended the resolution as set out in item no 8 of the accompanying notice for the approval of the shareholders as a

Byju's-owned Great Learning likely to cross Rs 1,000 crore revenue in FY23

The firm is expanding in regions such as India, North America, Latin America, Africa, and Southeast Asia and is also planning to acquire various companies in these markets

India becomes e-sports gaming hub with Valorant, BGMI tournaments

While still in its infancy compared to the US, China and Japan, investors are betting on huge growth in Indian esports -- powered by one of the world's youngest populations and cheap mobile data

Asian businesses embrace work from home but bosses say no to four-day week

Attitudes vary across the region. Singapore, Australia and New Zealand are most likely to embrace flexible working. China, Japan and India are the least receptive to it