COMPANIES & SECTORS


IANS 29 November 2022
The Tata Group on Tuesday announced the consolidation of its airlines, Vistara and Air India. With this consolidation, Air India will be India's leading domestic and international carrier with a combined fleet of 218 aircraft, making it India's largest international carrier and second largest...

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IANS 28 November 2022
Online home services marketplace Urban Company on Monday said it has awarded stocks worth Rs 5.2 crore to 497 service partners under the Partner Stock Option Plan (PSOP) programme.   Of the total recipients, about 30 per cent were female service partners from the beauty and wellness...

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IANS 28 November 2022
Amid an exercise to wind up certain verticals as part of global exercise to cut costs, Amazon on Monday announced to shut down its wholesale distribution business in India.   The e-commerce major is discontinuing Amazon Distribution, its wholesale e-commerce website available in some...

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IANS 28 November 2022
The Central Bureau of Investigation (CBI) in its charge sheet lodged in the Rs 34,615 crore DHFL loan fraud case has said that the accused created 87 shell companies and 2,60,000 fake borrowers to launder money. The charge sheet was filed in the second week of October.   The federal...

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IANS 28 November 2022
The Swiss Challenge process initiated by LIC to find bidders for its Rs 3,400 crore debt in Reliance Capital (RCAP) has failed miserably.   The IDBI Trusteeship, process advisor responsible for running the Swiss Challenge process on behalf of LIC, did not receive even a single bid, as...

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IANS 24 November 2022
Amazon on Thursday said it is shuttering its edtech offering called Amazon Academy's operations in India starting from August 2023, and will refund the full fee to those enrolled in the current academic batch.   The e-commerce behemoth officially launched Academy (previously called...

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IANS 24 November 2022
Ramesh Chauhan is divesting Bisleri International to Tata Consumer Products Ltd (TCPL) for an estimated Rs6,000-Rs7,000 crore, The Economic Times reported.   The current management will continue for two years as part of the deal. Mr Chauhan, 82, has been in indifferent health in...

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IANS 24 November 2022
The Supreme Court on Wednesday dismissed an appeal by Tata Power Company Ltd (Tata Power) challenging the Maharashtra electricity regulatory commission's (MERC) decision to award a Rs7,000-crore transmission contract on a nomination basis to Adani Electricity in March last year.   A...

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Moneylife Digital Team 23 November 2022
A decline in exports in sugar season 2023 (SS; 1 October 2022, to 30 September 2023), together with a 3% increase in the fair and remunerative price (FRP) of sugarcane, effectively for a 10% recovery rate, will impact the profitability of sugar mills this fiscal, says a research...

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Moneylife Digital Team 22 November 2022
The Delhi High Court (HC) on Tuesday dismissed Future group's plea seeking termination of the arbitration proceedings initiated by Amazon before the Singapore International Arbitration Court (SIAC), as reported by Bar and Bench.   Justice C Hari Shankar said that he has not expressed...

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IANS 22 November 2022
The recent order by the Competition Commission of India (CCI) in the Google case may appear developer-friendly; but, in practice, it may have a practical and financial impact on developers, especially start-ups, legal experts said on Monday.   The CCI fined Google Rs936.44 crore on...

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IANS 22 November 2022
The Aditya Birla Sun Life Insurance Company Ltd, a bidder for the Reliance Nippon Life Insurance Company (RNLIC), has threatened to take action and file a complaint against the Reliance capital administrator if it fails to provide the critical information required by the company, at the...

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IANS 21 November 2022
The sale of Reliance Capital's (RCAP) 51 per cent stake in Reliance Nippon Life Insurance Company (RNLIC), in the ongoing Corporate Insolvency Resolution Process, has pitched Nippon Life of Japan against RCAP Administrator and Aditya Birla Sun Life Insurance.   Miffed at the entry of...

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Moneylife Digital Team 21 November 2022
ArcelorMittal Nippon Steel India (AM/NS India) has concluded a transaction to acquire two port assets and a power plant from the Essar group for a net value of about Rs16,500 crore. AM/NS India says it has received requisite corporate and regulatory approvals.    The cash-generating...

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IANS 19 November 2022
Online food delivery platform Zomato on Friday said that its co-founder, Mohit Gupta, had resigned after about five years at the food aggregator.   In May 2020, Gupta became Zomato's co-founder after building the segment's operations from scratch.   In a message that Gupta...

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IANS 16 November 2022
Piramal Capital has withdrawn the insolvency proceedings against Reliance Power Ltd.   Reliance Power, in a stock exchange disclosure, has informed that the Piramal Capital and Housing Finance has withdrawn the application made against Reliance Power Ltd under Section 7 of the...

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IANS 16 November 2022
Amid the heightened insecurity and mass layoffs, two top Meta India officials -- Abhijit Bose, Head of India, WhatsApp and Rajiv Aggarwal, Director of Public Policy, Meta India -- have resigned, the company confirmed on Tuesday.   Shivnath Thukral, Director of WhatsApp Public Policy,...

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IANS 15 November 2022
Payash Capital Singapore, a 49% stakeholder in Trinity Alternative Investment Managers Ltd (TAIML), has challenged the decision to include Arcelor Mittal in the race to acquire SREI's assets.   TAIML is an investment manager of alternate investment funds (AIFs)  that is jointly...

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Moneylife Digital Team 15 November 2022
Beleaguered Japanese investment firm SoftBank has reportedly written off about US$100mn (million) it invested as part of its Vision Fund 2 in now bankrupt crypto exchange FTX.   According to MarketWatch, the investment is now marked down to zero with SoftBank saying "it would not face...

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IANS 15 November 2022
As several advertisers pause spending on Twitter, GroupM, part of WPP which is the world's biggest ad company, is reportedly telling its clients that buying ads on the platform is now a "high-risk" venture.   According to Platformer, GroupM with $60 billion in annual media spend is...

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