Page 120 - Companies

Peloton planning to cut additional 500 jobs to reverse losses: Report

To cut costs, the company cut hundreds of jobs, shuttered stores and outsourced delivery to third parties this year

Agritech start-up Falca raises $3 mn in funding for expanding business

Company enables farmers to sell their products directly to consumers without extra costs like logistics, packaging

ONGC Videsh to invest $1 billion in offshore block held by Petrobras

Brazil's Petroleo Brasileiro SA (Petrobras) owns a 75 per cent stake in the block and the rest 25 per cent is held by OVL, it will raise its stake in the block

RIL-backed Viacom18 Media to stream FIFA World Cup on Jio Cinema for free

The commentary for FIFA matches will be available to users in English, Hindi, Malayalam, Bengali, and Tamil

Copycat threat to goodwill, trademark of legacy brands increasing

Small businesses violate trademark laws with deceptively similar brand names which not only confuses consumers, but also leads to production of fake goods resulting in huge losses to corporates

Poonawalla Fincorp AUM grows 21% YOY to Rs 3,270 crore in Sept quarter

Sequentially, its consolidated asset portfolio expanded by 5% over Rs 17,660 crore at end of June 2022

Apple made illegal anti-union threats in Oklahoma, alleges complaint

Apple is violating federal labor law by engaging in surveillance and interrogation of employees, according to the CWA's claim

Credit Suisse loses Asia deputy wealth management head as departures mount

Credit Suisse Group AG's deputy wealth management head for Asia is leaving after about two decades with the bank, joining a wave of departures from the embattled firm

Adani Group's stock surge at risk of reversal, technical indicator shows

The stock rallies of Gautam Adani's companies, which expanded his fortune at a pace that outran all other billionaires globally, is set for a reversal, according to a technical indicator

'Offer for sale' mechanism to get mega boost as Sebi relaxes norms

Among other things, the cooling-off period required between two OFSs has been reduced to as less as two weeks from 12 weeks at present

Commercial EV maker Euler Motors raises $60 mn in funding round led by GIC

Company will use the money to strengthen manufacturing, supply chain and hire talent

India's bad bank NARCL offers Rs 228 cr for Mittal Corp debt held by PSBs

The NARCL will have the right to match any counteroffers, as the lenders have put the debt on the block

Naspers-owned Prosus terminates $4.7 billion deal to acquire BillDesk

Prosus has been a long-term investor and operator in India, putting in close to $6 billion in Indian technology companies since 2005

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

EPAM sacks around 100 Indian employees, revokes offer letter of others

At least EPAM 100 employees, across testing, .Net, DevOps, and Java domains in both firms - EPAM Systems and EPAM Anywhere - have been asked to resign

Cycle Pure Agarbathies to set up 100 stores across India by 2024: MD

NR Group, manufacturers of Cycle Pure Agarbathies, has drawn up aggressive expansion plans that includes opening 100 stores by 2024 besides tapping the online market to boost sales, according to a top company official. The Mysuru-based NR Group is known for the popular Cycle brand of agarbathis (incense sticks) and also diversified into other products like sambrani, turmeric, kumkum among others, company Managing Director Arjun Ranga said here. "Cycle - as a brand is known for agarbathis (incense sticks) but we are into other products also. We want to be known as a prayer-and-fragrance brand and not just an agarbathi brand," he told PTI. Elaborating, he said, "We are into sambrani segment and have also launched 'nai vaidhya' under spiritual products category, it is one of the fastest growing segments for us...we also have pooja oil, camphor, kumkum and turmeric," he said. To a query, he said revenue from Agarbathi business accounts for more than 90 per cent and his company wants t

Apeejay Surrendra Park Hotels plans to double number of properties by 2025

Apeejay Surrendra Park Hotels Ltd plans to more than double the number of its properties to 50 by 2025, according to company chairperson Priya Paul. The company, which currently has 23 hotels with 1,934 rooms in total, plans to add over 1,640 rooms in its portfolio through properties in various destinations, including Pune, Amritsar, Srinagar, Dimapur, Darjeeling and Port Blair. "We are looking at having 50 hotels by 2025," Paul told PTI when asked about the company's expansion plans post-Covid. While the company has opted for an asset light model, she said, "We will be building some of our own, that's a combination. That's the strategy we've identified for ourselves." The company's owned properties are less than 50 per cent of its total portfolio of hotels. Its brands include 'The Park', 'The Park Collection', 'Zone by The Park' and 'Zone Connect'. On the recovery from the pandemic, she said occupancies have been at 90 per cent rate. "This Q1 and H1, I think it's a record. It's

Hyundai's domestic sales increase by 50% to 49,700 units in September

The Korean carmaker sold 33,087 units in the country in September last year

Bandhan Bank stock weighed down by weak sentiment; worst may be priced in

The guidance is for overall 20 per cent growth in 2022-23

iPhone 14 production cut may not impact Apple's India plans: Experts

More than 7 million iPhones expected to be sold in the country in 2022, demand dip unlikely: Report