CATEGORIES

Parmar new GM of Mars Wrigley Asia

Chocolate and confectionery maker Mars Wrigley has elevated its India head Kalpesh Parmar as the new general manager of the Mars Wrigley Asia business. In his new role, Parmar will oversee businesses across 20 markets.

Mazumdar-Shaw leaves Infy board

IT services major Infosys on Thursday announced the retirement of Kiran Mazumdar-Shaw as an independent director on the board, effective 22 March, upon completion of her tenure.

Apple to splash $1 bn a yr to produce movies

The co views this as a way to build awareness for its TV+ streaming service

Hindenburg shorts Jack Dorsey's firm Block, shares plunge

Hindenburg Research on Thursday disclosed short positions in Block Inc and alleged that the Jack Dorsey-led payments firm overstated its user numbers and understated its customer acquisition costs.

Unauthorized stock advice on social media under Sebi glare

India's market regulator is to take action against at least four companies alleged to have been pushing stock tips through social media without authorization, documents reviewed by Reuters showed and two people with direct knowledge of the matter said.

Sanofi, Regeneron's drug tastes success in lung trial

Asthma jab shows promising results in study of almost 1,000 current, past smokers

Wheat prices heat up, fuelling inflation fears

Wheat prices have started climbing again despite the government launching open market operations to rein in prices of the crucial commodity due to the unseasonal rains in key wheat-producing states. Wheat prices shot up by 15% in Jan-Dec 2022.

DMRC seeks review of HC order on Rinfra dues

The Delhi Metro Rail Corp. (DMRC) on Thursday moved the Delhi High Court seeking a review of a single judge order on Reliance Infrastructure-led Delhi Airport Metro Express Pvt. Ltd’s plea, seeking payment of dues by DMRC under a 2017 arbitral award.

Rahul Gandhi gets two years' jail term in defamation case

Surat court grants bail to the Congress leader, while suspending the sentence for a month

The UBS deal saved not just Credit Suisse

The chairman of Switzerland's largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.

Toshiba accepts $15 bn buyout bid

Toshiba Corp. accepted a buyout offer from a Japanese consortium, according to people familiar with the matter, as the iconic conglomerate moved a step closer to ending a troubled chapter in its more-than-140-year history.

Cash mkt volumes drop 20% in FY23

Despite investor inflows through systematic investment plans (SIPs) crossing ₹13,000 crore for a fifth consecutive month in February, cash market turnover fell 20% during FY23.

SpiceJet open to sell more stakes in airline biz

Low-fare airline SpiceJet is open to selling more shares to reduce its liabilities, chairman and managing director Ajay Singh said.

Accenture to fire 7,000 in India as part of global cuts

Accenture Plc plans to fire at least 7,000 of its about 350,000 employees in India as the world’s largest technology services company prepares to let go of 19,000 people or 2.5% of its global workforce in the next 18 months.

Working With AI Robots Could Worsen Human Work Cultures

Lean and mean machines are influencing how we interact at work

Govt Plans Launch Of 6G Tech By 2030

India plans to design, develop and deploy 6G network technologies that will offer ubiquitous and secure connectivity at an affordable cost by 2030.

AT1 bond jitters needn't unnerve Indian issuers

Before Credit Suisse, investors saw them written off in Yes Bank's case. So long as this risk is clear to all, such bail-in' bonds have a reason to exist. Their returns might need to rise a bit

Privatized Air India's takeoff can lead other PSUs to thrive as well

The ideal path ahead would be the 'corporatization' of PSUs by gradually offloading state-held equity into our stock market

Sunak wins post-Brexit trade vote

Despite opposition, Sunak won the vote by 515 to 29, suggesting that many in Conservative Party had abstained

Govt plans to sell up to 3.5% of HAL

The government is planning to sell up to 3.5% stake in aerospace and defence company Hindustan Aeronautics Ltd this week in a deal that could fetch the government ₹2,867 crore, an exchange filing showed on Wednesday.

Mudlapur named MD, Bosch Ltd

Bosch, the German engineering and technology company announced significant changes to its leadership team in India on Wednesday.

No FDI limit for OTTs brings clarity to broadcasters

The broadcasting ministry's announcement that the 26% foreign direct investment limit on digital media will not apply to OTT platforms (over-the-top) streaming news has provided clarity for broadcasters such as Zee Entertainment Enterprises and Viacom18 Media Pvt Ltd.

The Collective to open 20 stores in FY24

Aditya Birla Group's decade-old, luxury multi-brand retail store, The Collective, among other brands, will add 20 new stores in the next one year. Of this, The Collective' will have 10 new stores, while the other outlets will be for mono-brand stores like Hackett, Fred Perry, Ted Baker, Polo Ralph Lauren and Ralph Lauren, said Amit Pande, brand head, The Collective & International Brands at Madura Fashion and Lifestyle said in an interview.

Price hikes are nice, but NMDC needs to grow volumes as well

State-owned iron ore producer NMDC Ltd raised prices by 2-5% from Tuesday. The latest price hikes are pretty much on expected lines given that the ongoing March quarter is seasonally strong.

RBI's Das calls for computing infra

Reserve Bank governor Shaktikanta Das on Wednesday stressed the need for augmenting the central bank's existing computing infrastructure supported by cutting-edge facilities for research and capacity building in emerging areas.

Chandrayaan 3, Aditya L1 may be launched in middle of 2023

Indian Space Research Organization (ISRO) chairman S. Somanath on Wednesday said the launch of Chandrayaan-3, India's third lunar mission, and the first solar mission Aditya Ll will possibly happen by the middle of 2023.

President bestows Padma awards on KM Birla, others

Investor Rakesh Jhunjhunwala and Rasna’s Areez Khambatta among those honoured posthumously

Lower oil prices to aid OMCs' marketing margin outlook

Softening crude oil prices after staying elevated for more than a year since the start of the Russia-Ukraine war in February 2022 bode well for domestic refiners as well as for the broader economy.

Siguler Guff plans to raise $350 mn for second Asia fund

Siguler Guff, a multi-strategy private markets investor with over $16 billion in assets under management, is considering a $350-million Asia fund, which will back companies in India and Southeast Asia, two people in the know said.

European carbon tax could torpedo FTA talks: experts

The carbon tax, beginning Oct, could attract a 20-35% duty on key Indian shipments