Page 6 - Companies

M&M buys out VC firm Omnivore's stake to acquire agri-tech firm MITRA

Deal size not disclosed, will make MITRA a wholly-owned subsidiary of M&M; is in sync with Mahindra's plan to grow revenues from farm machinery 10 fold in next five years

New Starbucks CEO Laxman Narasimhan takes reins early from Howard Schultz

Narasimhan, 55, has also joined the company's board of directors, Starbucks said in a statement

Crew crunch amid network expansion forces Air India to cut six US flights

A few flights to Bangkok and Dubai will be operated by Airbus A320 aircraft instead of the wide-body Boeing 787

Credit Suisse's 9,000 job cuts are foretaste of UBS takeover amid crisis

The merger creates significant overlaps. The two lenders together employed almost 125,000 people at the end of last year, with about 30% of the total in Switzerland

Credit Suisse tells staff bonuses will still be paid amid UBS takeover

There will be no changes to payroll arrangements and bonuses will still be paid on March 24, Credit Suisse said in an internal memo to staff

ADP, GMR Airports infrastructure to merge joint venture with GMR

ADP and GMR Airports Infrastructure own 49% and 51%, respectively, of the unlisted GMR Airports Ltd., according to a statement Sunday from the French company

TikTok's moderators still review child abuse despite vow to exit business

The revelations highlight the challenges that social media companies and their content review teams face in protecting their users from extremely disturbing material

Here's how scandal and mistrust ended Credit Suisse's 166-year history

After tense talks over the weekend, UBS Group AG agreed to buy Credit Suisse in an all-share deal for about $3.25 billion, less than the market value of troubled US lender First Republic Bank

The one big winner and many losers of UBS's Credit Suisse rescue deal

After a weekend of frantic talks to forge a solution before markets opened in Asia, the firm struck a deal to buy its smaller rival for about $3.3 billion in an share deal

Vaidyaratnam Group plans to double revenue to Rs 500 cr, IPO by 2030

Thrissur-based ayurveda group Vaidyaratnam is looking at closing the current fiscal with a Rs 240 crore revenue and double the same by 2030 when it hopes to go public. The 99-year-old entity is the only ayurveda group that follows the holistic Ashtavaidya tradition. It was started by the late Eledath Thaikkattu Neelakandan Mooss in Thaikkattussery in Thrissur in 1924. The company recorded a revenue of Rs 220 crore, of which Rs 170 crore came in from products/medicines and the rest from services in FY22. This year, they expect only a marginal increase in revenue to Rs 240 crore (Rs 190 crore from products and the rest from services) due to the sharp spike in input costs. "Our 2030 plan envisages more than doubling the turnover to Rs 500 crore. We hope to drive this primarily by entering new categories of treatment like infertility, sports and lifestyle diseases, among others -- and also launching new medical products, especially in the nutraceuticals," Ashtavaidyan Dr Yadu Narayanan

MG Motor India to supply 100 vehicles of various models to WTiCabs India

MG Motor India on Saturday said it has bagged an order to supply 100 units of its various models to WTiCabs India. The fleet of 100 vehicles, including Hector and ZS EV, will be used for the rent-a-car division of WTiCabs India. "Our partnership will further make MG vehicles more accessible to SUV and EV enthusiasts in India. We are deeply grateful to WTiCabs for having chosen the MG Hector and ZS EV as their choice of vehicle for their business," MG Motor India Senior Director Sales Rakesh Sidana said in a statement. WTiCabs CEO Ashok Vashist said the company values the partnership and looks forward to continued sales and services support from MG Motor India. "In our constant endeavour to provide sustainable mobility, we will keep adding EV's into our fleet. Our endeavor is to provide sustainable and robust mobility solutions to our corporate clients," he added.

TVS Industrial and Logistics on aggressive expansion plan in 30 more cities

The TVS Industrial and Logistics Park (ILP) has drawn up plans to strengthen footprint in 30 more cities by 2027, a top official said on Saturday. The company currently has presence in 11 locations across the country. The TVS ILP would be investing about Rs 1,500 crore under its expansion drive, chief operating officer R Manikandan told reporters. As part of is expansion plans, he said five of the warehouses would be in Tamil Nadu including one in Coimbatore. The company was working on various projects in Vijayawada, Vishakapatnam, Guwahati, Siliguri, Ranchi and Raipur among others. The plan is to have a warehousing solution in every 400 km across the country, he said. With 35 per cent year on year growth, the company aims to reach a contracted revenue of USD 750 million, he said. Tamil Nadu being the major market for the company with 50 per cent share, the company was eyeing eastern parts of the country to establish warehousing facilities, he said. Talks are on with various .

Food delivery apps taking action on rising stress among delivery staff

Owing to their tough workstyle, delivery boys often face a lot of stress, which can affect their mental health

'The day my heart is not 100% committed': TCS's Gopinathan explains exit

Gopinathan said TCS is the market leader in its space, and has given industry-leading results

TCS 'won't make any change', focus on principles: CEO designate Krithivasan

Krithivasan's time of taking over is interesting, especially with the agenda already being set

With a 38% jump, India's M&A activity touched all-time high in 2022

Outbound M&A activity increased 31.6% year-on-year to hit $9.8 billion

South Korea's battery giants Samsung, LG in hot demand from US to Europe

Eight US states - including Kentucky, Georgia, North Carolina, Tennessee and Indiana - delivered presentations on the benefits they can offer Korean firms as a base for new manufacturing plants

Meta starts next round of layoffs with 1,500 jobs in recruiting, HR: Report

During an internal meeting with employees, Chief Executive Officer Mark Zuckerberg told employees the economic climate of layoffs and restructuring could last many years

Boeing, Airbus boost search for India talent as demand for aircraft rises

With about 1.5 million engineering students graduating annually, India is a rich source of talent for planemakers facing record orders from airlines as travel surges again after the Covid pandemic

ED knocks at the door of Franklin Templeton execs, conducts searches

Sebi in 2021 barred firm from launching new debt schemes for violating norms in winding up of 6 debt schemes