Page 72 - Companies

Consumer, tyre companies wait for crude derivative prices to ease

The firms also say that while crude oil prices have cooled off, they must sustain at current levels for actual impact to be seen on manufacturing operations

CoC stares at liquidation as IIHL, Torrent pause bidding for next round

Reliance Capital's lenders move to conduct a second round of auction is facing difficulties as the bidders are not said to be keen on another round under the insolvency resolution

Paytm gets extension from RBI for resubmission of PA license application

RBI says firm can continue with its online payment aggregation business while it awaits Centre's nod for investments from its parent firm One97 Communication into Paytm Payments Services Ltd

Social commerce the way to tap growing online buyers from smaller towns

Indian e-commerce was worth $83 bn in 2022, will likely grow to $185 bn in 2026, propelled by deeper internet penetration and digital payments

Technical issues at Lufthansa delay operations at Frankfurt airport

Lufthansa's operations were disrupted on Sunday at Frankfurt airport because of technical problems, German news agency dpa reported. Check-in systems on the airline's website and at the counter, as well as boarding, were affected at Germany's biggest airport, a Lufthansa spokeswoman told dpa. Some flights were delayed or would have to be cancelled because of the problems. Check-in was still possible using cellphone browsers on smartphones or tablets, and the Lufthansa app. The technical problems were caused by external IT service providers, dpa reported. Lufthansa asked travellers to check the status of their flights and said it was working with high-pressure" to resolve the issues. Last month, cable damage during construction work in Frankfurt caused Lufthansa computer systems to fail, resulting in flight cancellations and delays worldwide. Sunday's problems came a day before a national strike in Germany is set to bring the country's traffic to a standstill with airport, train an

Jack Dorsey's wealth tumbles $526 million after Hindenburg's latest report

Dorsey's fortune plunged by $526 million on Thursday, his worst single-day decline since May. He's now worth $4.4 billion after the 11% drop, according to the Bloomberg Billionaires Index

CPPIB exploring buying out ReNew Energy shareholders, making firm pvt

Canada Pension Plan Investment Board is exploring buying the shares of ReNew Energy Global Plc that it doesn't already own and taking the Nasdaq-listed firm private

Airtel India adds 235 cities to 5G network, service available in 500

The mode of user expansion is also different for both telecom operators

Govt nods to 45 companies/JVs operating in defence sector with foreign OEMs

The government has given approval to "45 companies/joint ventures" operating in the defence sector with foreign OEMs (original equipment manufacturers), the Parliament was informed on Friday. Minister of State for Defence Ajay Bhatt said this in written response to a query in the Lok Sabha. "The government has given approval to 45 companies/JVs operating in defence sector with foreign OEMs," he said responding to a query on the number of foreign companies who have shown interest in manufacturing defence equipment under foreign direct investment in the country. Further, the government has taken several policy initiatives in the past few years and brought reforms to encourage indigenous design, development and manufacture of defence equipment in the country, thereby reducing dependency on imports in coming years, he said. "These initiatives, inter alia, include according priority to procurement of capital items from domestic sources under Defence Acquisition Procedure (DAP)-2020; .

How India is breathing easy on corporate debt amid crisis elsewhere

Indian companies are doing better than peers, but business is slowing down

Toshiba Corp accepts $15 bn buyout offer from Japanese consortium

The Tokyo-based company's board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc.

In an open letter to Pichai, Google staff asks for better handling of cuts

In an open letter addressed to Chief Executive Officer Sundar Pichai, employees made a series of demands of the company, including freezing new hires, seeking voluntary redundancies

Sanjay Nayar has quit board of InCred Financial Services, company says

Executive played a role in expanding firm's credit and capital markets products in Asia-Pacific

Vedanta board to meet next week to consider fifth interim dividend for FY23

Anil Agarwal-led Vedanta Ltd on Thursday said its board will next week consider and approve the fifth interim dividend for FY'23. The announcement comes days after Vedanta Resources which is a majority shareholder of Vedanta Ltd stating that it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. "The meeting of the board of directors of the company (the board) is proposed to be scheduled on Tuesday, March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23," the company said in a regulatory filing. In a statement, Vedanta Resources had said it is in the advanced stage of finalisation to tie-up USD 1.75 billion through a combination of syndicate loan and bilateral bank facilities. Vedanta Resources had said it had pre-paid all of its debt that was due for repayment till March 2023, deleveraging by USD 2 billion in the past

FRL insolvency: Creditors invite fresh bids, divide assets into 5 clusters

The creditors of Future Retail Ltd have now invited new expressions of interest where the prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters" of its assets as it failed to attract a resolution plan in over four months. Despite finalising 11 prospective bidders like Reliance and Adani group' JV April Moon Retail, FRL against which the corporate insolvency resolution process (CIRP) was initiated on July 20, 2022, failed to receive any bids till February 20, 2023 despite two extensions in deadline for submissions. Following this, lenders have decided to divide the assets into clusters to make them more attractive to buyers. "... the last date of receipt of resolution plans was December 15, 2022, which was subsequently extended to January 16, 2023 and thereafter to February 20, 2023. However, no resolution plans were received for FRL by the due date of submission of resolution plans for the Corporate ...

Foxconn deal: Karnataka labour laws in focus, Tamil Nadu may follow

Allowing 12-hour shifts for all and nighttime work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 8,000 cr investment

Most Indian professionals like to be in office, back hybrid work: LinkedIn

'Desk bombing', 'loud leaving' and Thursday being the new Friday are new workplace trends, say report

India's Data Patterns develops equipment to check BrahMos missile functions

Domestic firms driving down price of supersonic cruise missile system with homegrown solutions

DB Power buys out investor GIP's stake, pays back Rs 500 cr loan

Power generation unit of Dainik Bhaskar Group was to be bought by Adani Power; deal called off

Ashok Leyland MHCV volume 91% in FY23, sees industry demand gaining

Company increases market share in commercial vehicle segment, credits 'development initiatives in key industries'