Page 2 - Us Companies

Kellogg India's FY22 revenue from operations up by 14% to Rs 1,332 cr

Breakfast cereal producer Kellogg India's revenue from operation was up 14.12 per cent in 2021-22 to Rs 1,332 crore as compared to the previous year. Its profit after tax in FY22 jumped 42.94 per cent to Rs 102.51 crore as against Rs 71.71 crore a year ago, as per the data provided by business intelligence platform Tofler. Other income was at Rs 20.24 crore in last fiscal year. Total revenue was at Rs 1,352.24 crore, up 14.15 per cent as compared to Rs 1,184.54 crore a year ago. Total expenses of Kellogg India, a subsidiary of Kellogg's Company, USA, were also up 13.18 per cent to Rs 1,217.18 crore. The company sells products such as cornflakes, Chocos, energy bars muesli, oats, granola, Froot Loops and upma in the Indian markets. It received 79.13 per cent of turnover in FY22 from the manufacturing of processed foods and 16.11 per cent from the trading of goods. In FY22, FMCG companies witnessed a surge in demand for packaged food products due to hygiene and safety issues afte

Top executives at US companies face more scrutiny over pay in new SEC rule

Publicly traded firms will have to disclose additional details about how senior managers are paid, including performance incentives, the SEC said

Uber may have explored selling Indian arm; company calls the report false

The US company Uber began weighing alternatives and reached out to several interested parties after recognizing it had limited potential for profitable expansion in Indian market.

Mukesh Ambani set to benefit as Issa brothers, TDR mull quitting Boots race

The Issa-TDR group had been one of the two main suitors remaining in the contest. They were bidding for Boots through Asda Group Ltd

Female CEOs' pay rose 26% in 2021 to $15.8 million, but ranks still small

Pay packages for the women who run S&P 500 companies jumped in 2021 as the economy recovered and stock prices and profits soared. Median pay for the women occupying the corner office rose to nearly $16 million, according to the annual survey done by Equilar for The Associated Press. Still, experts say there's much more to be done to improve gender diversity in the corporate ranks and close the pay gap between men and women. Jane Stevenson, vice chair, Board & CEO Services at organisational consulting firm Korn Ferry said while it is good that women CEO's pay rose, there is still a lot to be done. I think the danger is to look at those cases of CEOs making more their peers and see a message about the pay gap being closed it's not, she said. Of the 340 CEOs in the latest survey of S&P 500 companies, 18 were women, up from 16 in 2020. Profits for S&P 500 companies rose roughly 50% and the index gained about 27%. Because the bulk of a CEO's compensation is tied to such ...

Eveready Industries shareholders approve appointment of Suvamoy Saha as MD

The resolution was approved with 99.16 per cent in favour, Eveready Industries India said in a regulatory filing

Chipotle sees quarterly sales above Wall Street view amid strong demand

The burrito chain forecast comparable restaurant sales growth of 10% to 12% for the current quarter, compared with estimates of an 8.8% growth, according to IBES data from Refinitiv

Elon Musk's Boring Company raises $675 million to scale Loop projects

Tech billionaire Elon Musk's Boring Company has raised $675 million in the Series C round, bringing its valuation up to $5.7 billion.

Microsoft Xbox's research and design head Chris Novak quits

At Microsoft, he also held the roles of design architect and design director

BlackRock receives $114 bn in net flows amid market turmoil

Equity funds led the way, with a $76 billion haul, while bond funds saw $7.5 billion

Rajnath Singh seeks out US companies for co-development, co-production

Defence Minister Rajnath Singh on Monday (local time) said that he has appealed to the US companies and equipment manufacturers for co-development and co-production in India.

Indian American Raj Subramaniam to head FedEx as founder-CEO quits

Subramanian would replace Frederick W Smith, chairman and CEO, who will step down on June 1. He will now be its executive chairman

Equinix to invest over USD 9 million for expansion in Chennai

The parcel of land located in State Industries Promotion Corporation of Tamil Nadu (SIPCOT), Siruseri on the Old Mahabalipuram Road, popularly known as the IT corridor of the city

Starbucks CEO Johnson to retire; founder Schultz to be interim chief

Starbucks President and CEO Kevin Johnson said Wednesday he will retire next month, and former CEO and company founder Howard Schultz will replace him on an interim basis.

US job openings near record in January, adding to price pressures

US businesses posted a near-record level of open jobs in January, a trend that has pushed up worker's pay and added to inflationary pressures in the U.S.

Reliance ties up with Sanmina for electronics manufacturing in India

A Reliance unit will invest 16.7 billion rupees ($220.86 million) in new shares of Sanmina's existing Indian entity, giving it a 50.1% stake in the joint venture

Chipset maker Nvidia confirms it is investigating cybersecurity incident

News of a potential cyberattack at Nvidia comes just weeks after the Santa Clara-based company terminated its $40 billion bid to acquire British chip designer Arm

Twitter CEO's paternity leave sparks question of how much is enough

In a sign of how quickly norms are evolving at US companies, the big question sparked by Parag Agrawal's announcement was why he wasn't using more of the 20 weeks that Twitter offers

OnlyFans appoints Mumbai-born Amrapali Gan as CEO

OnlyFans, which is known for hosting adult content, allows creators to monetise the content they want to share

Meta's India revenue up 16% to Rs 1,485 crore in FY21; net profit dips

Meta's (formerly Facebook) total income in India grew 16 per cent year-on-year to about Rs 1,485 crore in 2020-21, while its net profit dipped 6 per cent to Rs 128 crore, as per regulatory documents.