Page 25 - Companies

Adani Enterprises FPO may get a big boost from Gulf sovereign wealth funds

Adani Enterprises will need to offer at least 35 per cent of the FPO, worth as much as Rs 7,000 crore, to retail investors

Goldman Sachs to cut about 3,200 jobs this week after cost review

The cuts also come a week before the bank's traditional year-end compensation discussions

Food brand Whole Truth raises $15mn in series B led by Sequoia Capital

Company will use money for expanding manufacturing, hiring and retail distribution

CESL invites bids to lease out 3,500 e-vehicles for period of up to 5 years

State-owned CESL on Monday said it has invited bids to lease out 3,500 electric vehicles for a period of up to 5 years. The bids have been invited from original equipment manufacturers (OEMs)/leasing agencies/NBFCs for leasing the 4-watt battery-based cars to various departments and autonomous bodies across 18 states and Union Territories for a tenure of 3-5 years, the company said in a statement. These states/UTs include Delhi, Maharashtra, Gujarat, Uttar Pradesh, Kerala, West Bengal, Haryana, Assam, Odisha, Rajasthan, Madhya Pradesh, Bihar, Goa, among others. Convergence Energy Services Limited (CESL) will charge a service fee for making available the aggregated demand for cars. "The demand for replacement of fleet is increasing very significantly. I hope that through the design of appropriate structures, we are able to meet that need and involve other stakeholders. We urge OEMs and leasing agencies to participate in this project and together build the ecosystem for a total ...

Toyota Kirloskar Motors restarts booking for Hilux utility vehicle

Car maker Toyota Kirloskar Motor on Monday said it has restarted bookings for its utility vehicle Hilux.

Tell your client to maintain decorum: HC tells Ashneer Grover's counsel

Delhi High Court was hearing a suit filed by BharatPe seeking, among other reliefs, orders to restrain Grover from making defamatory statements against the company

Healthcare edtech start-up Virohan raised $7 mn from Blume Ventures

Company's omnichannel platform trains students in allied healthcare programmes

Taiwan's Evergreen Marine Corp gives mega bonuses worth 50 months' salary

The Taipei-based shipping company is handing out year-end bonuses equal to 50 months' salary, or more than four years' pay, on average to celebrate a standout year

Google rolls out group chat end-to-end encryption for Messages app

Tech giant Google has rolled out end-to-end encryption in group chats for Messages app users enrolled in the beta programme

Samsung's CEO Han Jong-hee expects economic woes to continue this year

Samsung's chief executive has said macroeconomic challenges will persist throughout this year, amid sluggish demand, rising materials and logistics costs

As crypto winter deepens, NFT marketplace SuperRare cuts 30% of workforce

SuperRare raised $9 million in its Series A funding in March 2021, led by Velvet Sea Ventures and 1confirmation

AR smart lens developer Mojo Vision lays off 75% of its workforce

AR smart lens developer Mojo Vision has slashed 75 per cent of its workforce across a variety of departments and functions amid the deepening funding crunch

Cerberus drops purchase of Apollo's Unit after Arcion Revitalization deal

The US firm's Indian arm decided not to proceed with the deal in October after agreeing to acquire Arcion Revitalisation Pvt. for about 2 billion rupees ($24 million)

Twitter security headaches mount with data leak of over 230 mn users

The database, which was posted on Wednesday, contains the names and email addresses of politicians, journalists and bankers, among others

Srei's CoC to take cognizance of the valuation report on Friday

The Committee of Creditors (CoC) of Srei lenders will take cognizance of the valuation report of the twin Srei Group companies undergoing a resolution process on Friday, a source said on Thursday. If the fair and liquidation value of Srei Infrastructure Finance and Srei Equipment Finance will be greater than the resolution plans submitted by the three bidders, the CoC may not consider them. "There is a CoC meeting tomorrow (January 6). A presentation will be made before the CoC on the valuation. The lenders will take cognizance of the valuation report as part of the ongoing resolution process," the source said, declining to be identified. According to the sources, the valuation reports will not come in the way of the ongoing resolution process. The financial proposals were received on Wednesday after online bidding in a "challenge mechanism" process, adopted by the administrator Rajneesh Sharma, available under the Insolvency and Bankruptcy Code, to maximise the recovery. "The ...

Amazon to axe 18,000 jobs globally; CEO blames 'uncertain economy'

The job cuts - about 80 per cent higher than earlier estimates - are part of Amazon's annual operating planning review process

UK-India trade body writes to envoy on Vi equity conversion delay

Considering that the issue may gather momentum in the upcoming months, Vikram K Doraiswami, the Indian high commissioner in the UK, has sought guidance from the finance ministry

Carmakers may end up paying penalties for missing emissions targets: Report

CAFE scores are designed to encourage carmakers to focus on technologies that reduce CO2 emissions

Godrej Properties sells over 1 mn sq ft for Rs 435 cr at Ahmedabad project

The company has sold 870 homes with a booking value of approximately Rs 435 crore since the project was launched in October, last year

Covid wave in China has Indian electronics cos worried about parts shortage

Chinese suppliers are already not assuring the delivery timelines for orders placed in the past few weeks due to high Covid-19 infections