Page 51 - Companies

Renault SA open to reducing stake in Nissan Motor in carve-out talks

Executives have discussed Renault's carve-out plan and reshaping the pair's two decade-old alliance since February during meetings in France and Japan.

This CEO wants people to be happy that he laid off 500 employees

US exercise and fitness equipment company Peloton CEO Barry McCarthy has announced to cut 12 per cent of the workforce (nearly 500 employees) in a latest lay-off round

Andersen Global sees extraordinary mkt opportunities in India: CEO Vorsatz

Tax firm Andersen Global sees 'extraordinary' market opportunities in India and will continue to add quality manpower and focus on training, its Chairman and CEO Mark L Vorsatz said. The global tax firm is looking to expand its practice in Japan and China and also offer its tax and legal services in several countries as it has set a goal to be the best in the world, he added. Vorsatz was here for Andersen's first regional partner meeting in India. Nangia Andersen LLP is the only member firm of Andersen in India. "We will continue to add quality people. We see the market opportunities as extraordinary. We have invested in both a global tax program (we have about 180 people enrolled globally, and India graduated 7 candidates last year), have launched a global MBA program this last May and hope to add a global accounting master's program next year," he said in an email interview. Vorsatz said the firm has seen rapid growth in Asia in the last 16 months. "We still need to complete our

Karcher India expects double-digit growth, aims to be 100 mn firm by 2030

Germany-based cleaning solutions provider Karcher anticipates a strong double-digit growth in the mechanised cleaning industry in India in coming years and aims its unit here to be a 100 million Euro (around Rs 807 crore) company by 2030, said a company official. Karcher India, a subsidiary of Karcher GMBH, which provides a range of cleaning solutions for both domestic as well as industrial use, also has plans to expand its Tamil Nadu-based local joint venture to push towards local manufacturing and cost rationalisation of its equipment. Besides, the company is exploring the option of setting up an owned manufacturing unit, said Karcher India Managing Director Jatinder Kaul. Karcher India, which offers a range of products such as high-pressure washers, vacuum cleaners, floor scrubbers etc anticipates a "strong double-digit growth" of the mechanised cleaning industry, he said. "Fast-developing nations like ours are expected to grow at a compound annual growth rate (CAGR) of 25 per .

Andersen to foray into consulting business, says CEO Mark L Vorsatz

New firm to provide services in India and other countries; area of work 'will never include auditing', says Vorsatz

Anil Agarwal faces key vote for plan to tap Vedanta cash reserves

Shareholders of Indian unit Vedanta Ltd. will on a company plan to move money out of its reserves and into its balance sheet, increasing the probability that the funds will be used for dividends

Xiaomi rejects speculation over India operations being moved to Pakistan

Rumours started with a portal's tweet that the Chinese cellphone manufacturer may shift its operations from India to Pakistan after its assets worth $676 million were seized

Infosys again faces legal action for age and gender discrimination in US

Infosys' motion to dismiss the claims made by the executive was rejected by a judge from the US District Court

Quaker Oats enters fast-growing ready-to-eat cereals with Muesli oats

The subcategory of Muesli has emerged as one of the fastest growing segments in the market with 16-18%CAGR. Muesli constitutes around 15% of the BFC category

Credit Suisse offers to buy back debt securities worth 3 bn Swiss francs

Credit Suisse Group AG is offering to buy back debt securities for cash worth approximately 3 billion Swiss francs, just as the embattled lender tries to put finishing touches on a planned overhaul

FAME-II: Subsidies to Hero Electric, Okinawa halted for non-compliance

Centre has also asked Greaves Cotton's Ampere, Rattanindia's Revolt, Okaya and Jitendra EV to face an audit to be conducted by the Automotive Research Association of India (ARAI)

Companies can omit important information under new CSR disclosure rules

New rules let companies omit details like title, location, and duration of the business's CSR project, budget allotted for it, the amount spent on it during the current fiscal year among others

Pay gap rising between freshers and top management in Indian IT companies

The packages of freshers have increased marginally, by 20 per cent, since 2010, while the packages of CXO-level employees have gone up by 70-90 per cent

IndiGrid, Brookfield show interest in buying 2 transmission projects

Joint venture projects by Sterlite Power Transmission Ltd and Australia-based AMP Capital worth Rs 3,500-4,000 cr

Peloton planning to cut additional 500 jobs to reverse losses: Report

To cut costs, the company cut hundreds of jobs, shuttered stores and outsourced delivery to third parties this year

Agritech start-up Falca raises $3 mn in funding for expanding business

Company enables farmers to sell their products directly to consumers without extra costs like logistics, packaging

ONGC Videsh to invest $1 billion in offshore block held by Petrobras

Brazil's Petroleo Brasileiro SA (Petrobras) owns a 75 per cent stake in the block and the rest 25 per cent is held by OVL, it will raise its stake in the block

RIL-backed Viacom18 Media to stream FIFA World Cup on Jio Cinema for free

The commentary for FIFA matches will be available to users in English, Hindi, Malayalam, Bengali, and Tamil

Copycat threat to goodwill, trademark of legacy brands increasing

Small businesses violate trademark laws with deceptively similar brand names which not only confuses consumers, but also leads to production of fake goods resulting in huge losses to corporates

Poonawalla Fincorp AUM grows 21% YOY to Rs 3,270 crore in Sept quarter

Sequentially, its consolidated asset portfolio expanded by 5% over Rs 17,660 crore at end of June 2022