Page 169 - Companies

Sustainability can help companies become more profitable: Accenture CEO

Sweet cited a research that said companies that have combined sustainability into their business strategy are 2.5 more successful than those who have not

Best of BS Opinion: Sugarcane pricing, higher tax-GDP, and more

Here's a selection of Business Standard opinion pieces for the day

When CEO and board marriages fail

Boards and remuneration committees hesitate to engage with the behavioural and soft aspects of CEO appraisal. This is one important reason for such marriages failing

Credit Suisse posts 22% annual profit decline on back of legal troubles

The poll was compiled before the bank settled a legacy residential mortgage-backed security case for $80 million less than it had previously flagged

Honda Motor to appoint R&D chief Toshihiro Mibe as new CEO: Report

Japan's second-biggest automaker by sales will announce the decision after a board meeting as early as Friday

Saudi pressures global firms to move to Riyadh as it challenges Dubai

From the start of 2024, the Saudi government and state-backed institutions will stop signing contracts with foreign firms that base their Middle East headquarters in any other country in the region

Companies accuse anti-profiteering body of launching baseless probes

They say NAA is not following due process of law, harassing them with investigations even when there is no cut in GST rates or increase in input tax credit; Delhi HC posts matter for March 4

Cable One to buy telecom firm Hargray Communications in $2.2 bn deal

Cable One said the deal would help the company expand its presence into the Southeastern US markets

Blue Star launches a new range of refrigerators, ideal for storing vaccines

Ice lined refrigerators are ideal for vaccination programmes due to their ability to maintain a desired temperature even without power for up to as long as 48 hours. says Blue Star

Microsoft approached Pinterest in recent months over potential deal: Report

A deal between the two companies would also have tested the Biden administration's appetite for allowing powerful technology companies to strike deals

Incorporation of companies up 20% in FY21 despite pandemic: MCA

The number of new companies formed in the current financial year rose despite the pandemic

Bath fittings firm Watertec to set up plants in Gujarat, Odisha, Tamil Nadu

On the way forward, the company is targeting around Rs 1,400 crore in revenue, including 10 per cent from exports, by 2023-24. This translates to around 30 per cent growth

PayPal to shut shop in India from April 1, focus on global customers

PayPal was a payments options on many Indian online apps such as travel and ticketing service MakeMy Trip, online film booking app BookMyShow and food delivery app Swiggy

Samsung considers Austin for $17 bn chip plant, eyes tax breaks: Report

The tech giant is seeking combined tax abatements of $805.5 million over 20 years from Travis County and the city of Austin, among other tax breaks, according to the documents

Happiest Minds acquires Pimcore Global Services for $8.25 million

Happiest Minds Technologies Ltd will acquire US-based Pimcore Global Services for USD 8.25 million (about Rs 60 crore). Houston-based Pimcore Global Services is a digital e-commerce and data management solutions company. "Happiest Minds Technologies Ltd has concluded and signed definitive agreements to acquire 100 per cent ownership interest of PGS Inc (doing business as Pimcore Global Services) for a consideration of USD 8.25 million," Happiest Minds said in a regulatory filing late Friday night. The acquisition will further strengthen Happiest Minds' offerings and leadership in the digital transformation space, it added. It will also help create greater digital capital for customers and facilitate onboarding more customer logos of strategic consequence. The acquisition is subject to customary closing conditions and is expected to close in the quarter ended March 31, 2021. The filing noted that PGS has a strategic partnership with Pimcore Austria for delivering solutions around .

Localisation strategy for jobs would help address protectionism: Nilekani

He said the strategy for the companies is to be an active player in every market that they operate and have an articulation of partnership with that country and which reflects its priorities

Dr Reddy's posts Q3 profit of Rs 20 crore, revenues at Rs 4,930 crore

Dr Reddy's Laboratories on Friday reported a consolidated net profit of Rs 20 crore for the October to December quarter as against a consolidated net loss of Rs 570 crore in the year-ago period.Not accounting for impairment cost, the company's net profit in the quarter would have been at Rs 882 crore, it said.The company's consolidated revenues grew 12 per cent year-on-year to Rs 4,930 crore.There were significant changes to the market conditions for certain of the products fanning part of company's global generics and proprietary products segments, said the company."We continued with our growth momentum while maintaining EBITDA margins. We are progressing well on phase three clinical trials for Sputnik V vaccine in India," said Co-Chairman and Managing Director G V Prasad.The company's revenues in India increased by 26 per cent year-on-year to Rs 959 crore in Q3 FY21. In North America, the sales rose 9 per cent to Rs 1,739 crore.

Facebook earning in Q4 soar over pandemic, new challenges await in 2021

The Apple move drew a rare public rebuke from Facebook CEO Mark Zuckerberg, who during a conference call accused Apple of favoring its own interests and not those of users

The India Cements reports Q3 net profit at Rs 67.90 cr, revenue down 4.79%

The India Cements on Wednesday reported a consolidated net profit of Rs 67.90 crore for the third quarter ended December 2020. The company had posted a net loss of Rs 8.79 crore during the October-December quarter of the previous fiscal, The India Cements said in a regulatory filing. Its revenue from operations was down 4.79 per cent to Rs 1,184.68 crore during the quarter under review as against Rs 1,244.28 crore in the corresponding period of the previous fiscal. The India Cements' total expenses stood at Rs 1,093.05 crore in Q3/FY 2020-21, down 13.6 per cent as against Rs 1,265.13 crore. According to the company, the spread of COVID-19 has severely impacted businesses in India and abroad. In consequence of the lockdown, the operations of the company were shutdown during the last week of March 2020 and restarted in phases during April 2020. The pandemic situation has affected the normal business operations of the company and production, sales and profitability, inter alia, have

ByteDance says cutting India workforce, unsure of comeback: Report

The move came after India decided to retain its ban on TikTok and 58 other Chinese apps following responses from the companies on issues such as compliance and privacy