Page 7 - Companies

Bharti-backed OneWeb to launch 36 satellites with Isro by March end

Company's eighteenth launch will complete global constellation of satellites connecting connect enterprises and governments

myTVS selects Oracle cloud applications to improve business processes

Applications will improve the speed and quality of decisions, says TVS Mobility group company

No 'negative impact' after promoter shareholding freeze: Patanjali Foods

Company backed by yoga guru Baba Ramdev failed to meet Sebi's public shareholding rule within deadline

Indian industries stock up on coal to avoid shortages during summer

The fear of disruptions to mine output when monsoon rains begin a couple of months later is also a factor

Here's what a top lawyer thinks of entry of foreign law firms into India

Reversing a decades-long stance, the Bar Council of India this week permitted firms from certain countries to register in India, open offices and advise local clients on international law

Baidu showcases China's answer to ChatGPT to lead transformative technology

The Beijing-based company is leading a race with the likes of Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to create a next-generation platform for the world's largest internet market

SVB collapse exposes rifts in typically chummy venture capital world

There's no clear consensus on whether to celebrate or blame VCs who told founders to pull out their money

SVB fallout: Nazara Tech says Rs 60 cr shifted to other bank accounts

Nazara Technologies on Wednesday said that out of Rs 64 crore held by its two step-down subsidiaries in Silicon Valley Bank, Rs 60 crore has been successfully transferred to bank accounts outside of SVB. The balance of Rs 4 crore remains in SVB accounts for unrestricted operational use, the company said in a regulatory filing. Nazara informed that both the companies -- Kiddopia Inc and Mediawrkz Inc -- have been given unrestricted access to the entire amount of USD 7.75 million (Rs 64 crore) that was held at SVB. "From this amount, a sum of USD 7.25 million (Rs 60 crore) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5 million (Rs 4 crore) remains in SVB accounts for unrestricted operational use," the company said. The abrupt failure of SVB last week had left many startups, tech companies, entrepreneurs and VC funds nervous and jittery about their deposits. SVB was deeply entrenched in the tech startup ecosystem and the default bank for many .

Neelkanth Mishra resigns from Credit Suisse, to head research at Axis Bank

He is part of Indian Prime Minister Narendra Modi's Economic Advisory Council and head of research at Credit Suisse's local unit, according to the bank's website

One Impression raises $10 mn in series A led by South Korean firm KRAFTON

Firm to expand its offerings, grow presence in globally; It already transacts with several creators, from top celebs to nano influencers, generating 100,000 pieces of content for more than 500 brands

Three in every five companies in India want to hire STEM-qualified women

The rise in demand for STEM-qualified women is expected to rise the highest in the retail and e-commerce industry

SVB crisis: Why biz world should worry about the decline of liberal arts

Most companies will have to grapple with the question of establishing the right division of labor between knowledge workers and intelligent machines

Apple delays bonuses for some, limits hiring in latest cost-cutting effort

The majority of Apple's divisions had already moved to a once-a-year schedule for bonuses and promotions, including software engineering and services

Adani's investor Elara also a co-owner with conglomerate in ADTPL: Report

Elara holds a 1.6 per cent stake in Adani Enterprises, 3.62 per cent in Adani Transmission and 1.62 per cent in Adani Total

Samung joins South Korean govt's $400 billion bid to lead in key tech

The company plans to build five memory and foundry fabs in a new chip cluster in Yongin by 2042, where it seeks to attract more than 150 local and foreign chip companies

Donald Trump's Truth Social cuts staff as it awaits merger approval: Report

Some close to Trump Media estimate it can fund operations through September at present spending levels, according to the people

HSBC Holdings to buy Silicon Valley Bank's UK arm for £1 in tech repreive

The London-listed lender's "ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1," HSBC said in a statement Monday.

Fitch Affirms 'BBB-' ratings for Adani Electricity Mumbai's dollar bond

Hindenburg report has limited near-term impact on cost of funding

Blackstone sells 20.50% stake in Sona BLW Precision for Rs 4,917 crore

Private equity firm Blackstone on Monday sold its 20.50 per cent stake in auto component maker Sona BLW Precision Forgings for Rs 4,917 crore through an open market transaction. Blackstone, through its affiliate Singapore VII Topco III Pte Ltd offloaded the shares in Sona BLW. Singapore VII Topco III Pte is a promoter entity in Sona BLW. Monetary Authority of Singapore, Government of Singapore, BNP Paribas Arbitrage, Fidelity Asian Values Plc, Societe Generale, among others were the buyers of the shares. According to bulk deal data available with the BSE, Singapore VII Topco III Pte offloaded 11,99,25,641 shares, amounting to 20.50 per cent stake in the company. The shares were sold at an average price of Rs 410.04 apiece, taking the transaction value to Rs 4,917.43 crore. As of December 2022, Singapore VII Topco III Pte owned 20.50 per cent stake in the company. On Monday, shares of Sona BLW Precision Forgings closed 6.93 per cent lower at Rs 405.80 apiece on the BSE.

Koo launches new feature to enable creators to compose posts using ChatGPT

India's microblogging platform Koo on Monday announced that it has launched a new feature to enable creators to compose and draft posts using ChatGPT. The feature is available to eminent or verified profiles on Koo and will be rolled out to all users soon, it said in a statement. With the ChatGPT integration, creators will be able to leverage the power of AI (Artificial Intelligence) to help draft their Koos. "The generative AI feature will provide multiple use cases for creators such as finding the top news of the day or asking for a quote from a well known personality or even asking for the post or a blog to be written on a particular theme all within the draft section," it said. Creators will be able to type their prompts to ChatGPT within the app or use Koo's voice command feature to give their voice prompt without typing. Mayank Bidawatka, Co-Founder of Koo said, "We are always looking for ways to make content creation easy for our users and the integration with ChatGPT will