Page 26 - Companies

Amazon to slash more than 18,000 jobs as technology slump deepens

The reduction is concentrated in the firm's corporate ranks, mostly Amazon's retail division and human resources functions like recruiting

Major setback for Google as NCLAT refuses interim stay on CCI order

Tribunal asks Google to deposit 10% of Rs 1,330 cr penalty levied by CCI; next hearing on April 3

Indus Towers appoints Prachur Sah as MD & CEO, to suceed Bimal Dayal

Telecom infrastructure company Indus Towers on Wednesday said it has appointed Prachur Sah as managing director and chief executive officer of the company with effect from January 3, 2023. The position had been vacant since the resignation of Bimal Dayal in July. Prior to his appointment as MD and CEO of Indus Towers, Sah led the oil and gas vertical of Vedanta, Cairn. At Vedanta, he was instrumental in leading the next phase of organizational growth with a focus on delivering volumes, cost, growth projects, etc. "As India enters the 5G era, Indus Towers stands to play a crucial role in partnership with various stakeholders including mobile operators," Sah said. He was previously associated with Schlumberger for close to 18 years in various roles including Managing Director of South Asia region, leadership positions in line management, HR, safety, marketing across the Middle East, Latin America, Europe, India, and the US.

NCLAT directs Google to pay 10% of Rs 1,337 crore penalty imposed by CCI

CCI penalised Google in October over alleged violations in the Android mobile ecosystem

Suhail Sameer to start VC fund with two former co-founders: Report

On Tuesday, BharatPe announced that Sameer was stepping away from his post and will serve as the Strategic Advisor effective January 7

Promoters unwilling to infuse capital in Vi, govt stake unviable: Report

The promoters are willing to infuse Rs 2,000-3,000 crore but it is too less to revive the company

Jack Ma's Ant wins approval to raise $1.5 bn capital for its consumer unit

The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020

NARCL emerges as the highest bidder for SREI with NPV of Rs 5,555 cr

In the final lap, there were just two bidders in the fray - NARCL, and Authum with an NPV of Rs 5,526 crore

Slide in Apple's shares pushes iPhone maker's market value below $2 trn

Apple fell 3.7% on Tuesday, closing at its lowest since June 2021 as concerns about iPhone supply in the important holiday quarter mount

Pharma firms with India focus preferred as US market concerns grow

Steady outlook and higher returns triggers for companies refining their strategy

SKS Power Generation receives 7 bids, Reliance, Adani, NTPC among bidders

It can set the stage for another clash between the Adani and Reliance groups

Suhail Sameer steps down as BharatPe's CEO, will be new Strategic Advisor

Sameer has been overseeing the company after it ousted Ashneer Grover for financial misappropriation

Foxconn's Zhengzhou plant back at 90% capacity after Covid turmoil subsides

Foxconn's plant in the central Chinese city of Zhengzhou is now operating with roughly 200,000 staff

SpaceX valued at $137 billion in latest funding round, says TV report

Space Exploration Technologies Corp. is raising $750 million in new fundraising, which values the company at $137 billion, CNBC reported

Hyundai Motor elevates senior management; Tarun Garg becomes COO

Hyundai Motor India Ltd on Monday announced senior management elevations, including that of Tarun Garg as Chief Operating Officer. Garg, who was earlier Director (Sales, Marketing & Service) will oversee sales, marketing, service and product strategy in his new role, Hyundai Motor India Ltd (HMIL) said in a statement. As part of the changes in its senior management leadership, HMIL also said Gopala Krishnan CS, Vice President (Production) has been elevated as Chief Manufacturing Officer (CMO) overseeing production, quality management and supply chain. The elevations are effective from January 1, 2023, it added. In addition to their new elevated roles, Tarun Garg and Gopala Krishnan CS will continue to serve as whole-time directors on the HMIL board, the company said. HMIL Managing Director and CEO Unsoo Kim said,"The elevations stand testimony to Hyundai Motor India's commitment to recognise and appreciate its leadership.

Apple permanently shuts down popular weather application 'Dark Sky'

Tech giant Apple has permanently shut down its popular weather application 'Dark Sky'

Torrent Power to buy 1.1 Gw green energy capacity from ReNew Energy: Report

Ahmedabad-based Torrent Power has submitted a non-binding offer (NBO) for ReNew's solar and wind assets of 350 and 450 Mw for $450 million

Mcap of eight of top-10 firms jumps Rs 1.35 trn; SBI, RIL major winners

Eight of the 10 most valued firms together added Rs 1,35,794.06 crore in market valuation last week, with State Bank of India and Reliance Industries Limited emerging as the biggest winners. Last week, the 30-share BSE benchmark climbed 995.45 points or 1.66 per cent. Hindustan Unilever Limited and Bharti Airtel were the laggards from the top-10 pack. The market valuation of State Bank of India jumped Rs 35,029.1 crore to Rs 5,47,257.19 crore. The market capitalisation (mcap) of Reliance Industries climbed Rs 31,568.08 crore to Rs 17,23,979.45 crore. The valuation of Adani Enterprises rallied Rs 24,898.33 crore to Rs 4,39,966.33 crore and that of HDFC Bank advanced Rs 16,535.08 crore to Rs 9,07,505.41 crore. Tata Consultancy Services' (TCS) mcap went higher by Rs 11,690.67 crore to Rs 11,92,576.32 crore and that of ICICI Bank gained Rs 8,221.94 crore to Rs 6,21,588.34 crore. The valuation of Infosys climbed Rs 4,692.01 crore to Rs 6,34,873.16 crore and that of HDFC surged Rs 3,1

Meta acquires 3D smart glass maker Luxexcel for an undisclosed sum

Meta (formerly Facebook) has acquired the Netherlands-based 3D smart glass maker Luxexcel, as it doubles down on its metaverse dream in 2023

Rocket Software eyes $1 bn turnover in 18 months, to expand India presence

US-based firm's current revenue at $800 mn; company hopes to grow India customer base by 2-3x