Management - general

UltraTech Cement set to acquire Kesoram's cement business in a Rs 5,379-crore deal

01 Dec 2023

UltraTech Cement Ltd. announced on Thursday, 30 November 2023, its plans to acquire the cement business of Kesoram Industries Ltd. in a significant all-stock transaction valued at Rs 5,379 crore.

Walmart reduces import dependence on China and shifts focus to India

30 Nov 2023

Walmart, the world's largest retailer, has significantly increased its imports from India while decreasing its reliance on China.

Emirates Airline President urges Rolls-Royce to focus on engine performance

30 Nov 2023

In the aftermath of Rolls-Royce's ambitious plan to quadruple profits, the President of Emirates Airline, Tim Clark, has called on the British firm to "go back to basics" and prioritize the performance of its engines.

The U.S. Appeals Court grants a favorable ruling to chemical manufacturers in the PFAS lawsuit

28 Nov 2023

The U.S. 6th Circuit Court of Appeals, based in Cincinnati, Ohio, delivered a favorable ruling on Monday, November 27, 2023, for 3M, E.I. du Pont de Nemours and Co.,

Strike breaks out as Gucci workers in Rome protest against relocation of creative office

28 Nov 2023

Gucci fashion house in Rome, Italy, saw an unprecedented strike by their employees on Monday, 27 November 2023. This strike was a result of the fashion giant’s decision to move its design house from Rome to Milan, Italy.

Ola CEO Bhavish Aggarwal announces new Indian AI chat app, Krutrim

27 Nov 2023

Bhavish Aggarwal, CEO of Ola Cabs, has announced on his social media X account that his company is working on a new AI project.

Enforcement Directorate raids DLF premises in money laundering probe involving Supertech Group

25 Nov 2023

The Enforcement Directorate (ED) has conducted extensive searches at the premises of DLF in Gurugram.

Apple's iPhone makes 62.5% of India’s smartphone exports, amounting to $5 billion

23 Nov 2023

In a remarkable feat, Apple Inc. has witnessed a staggering year-on-year growth of 177% in the export of iPhones from India, reaching a value exceeding $5 billion in the initial seven months of the fiscal year 2024 (April–October)

Blackstone to close their multi-strategy fund following a 90% drop in assets

22 Nov 2023

According to reports from Tuesday, 21 November 2023, Blackstone is planning to close a fund that exposes its investors to a variety of hedge funds and trading strategies.

OpenAI investors consider legal action following CEO ousting and employee exodus

21 Nov 2023

In a startling turn of events, some investors in OpenAI, the renowned creator of ChatGPT, are contemplating legal action against the company's board.

Bharti Airtel considers raising $1 billion fund to settle spectrum dues

21 Nov 2023

One of India’s biggest telco giants, Bharti Airtel, led by Sunil Bharti, is exploring new ways to raise funds amounting to up to $1 billion, or around Rs 8,330 crore.

L&T Hydrocarbon wins mega offshore project in Middle East

21 Nov 2023

Engineering and construction major Larsen & Toubro on Monday said its hydrocarbon business secured offshore project orders worth up to Rs15,000 crore in the Middle East.

Former OpenAI CEO Sam Altman is all set to join Microsoft, announces Satya Nadella

20 Nov 2023

After just days of being fired from his post as the CEO of OpenAI, Sam Altman is all set to join Microsoft, as announced by Satya Nadella himself.

Australian trading bourse and TCS to partner up to create trading software

20 Nov 2023

ASX Ltd., an Australian bourse operator, has partnered with Tata Consultancy Services (TCS) to create a product-based solution to replace its trading, clearing, and settlement systems.

Boeing announces departure of chief strategy officer in 2024 amid company restructuring

17 Nov 2023

Boeing’s chief strategy officer, Marc Allen, has decided to step down from his position by the end of this year.

PRS Oberoi, former chairman of Oberoi hotels, passes away at 94

15 Nov 2023

PRS, who pioneered the luxury hotels business in India, also successfully expanded the Oberoi brand globally by developing Oberoi Hotels and Resorts.

Apple settles with U.S. government for $25 million in immigration hiring dispute

10 Nov 2023

In a groundbreaking settlement, technology giant Apple Inc. will pay $25 million to resolve allegations by the U.S. Department of Justice (DOJ) that the company engaged in discriminatory hiring practices favoring immigrant workers over U.S. citizens and green card holders for specific job positions.

A major ransomware attack targets China's largest lender, ICBC

10 Nov 2023

In a major cybersecurity incident, the U.S. arm of the Industrial and Commercial Bank of China (ICBC) fell victim to a ransomware attack, disrupting trade in the U.S. Treasury on Thursday, 9 November 2023.

Meta strikes a deal with Tencent to launch a low-cost VR headset in China

10 Nov 2023

In an effort to re-enter the Chinese market, Meta Platforms has reportedly reached a preliminary deal with Tencent Holdings to introduce a new, budget-friendly virtual reality (VR) headset in China

Amazon announces the latest round of job cuts in recent layoffs

09 Nov 2023

E-commerce giant has confirmed that it has started to let go of some employees in its music division. This new round of job cuts is the latest among the many rounds prior to this that have affected over 27,000 people in the past year.

Walmart prepares for 'Open Call' event in India as it aims for $10 billion annual export goal by 2027

08 Nov 2023

Retail giant Walmart is seizing the India-first opportunity in the global sourcing landscape as it prepares to host a groundbreaking mega sellers' summit in New Delhi on February 14 and 15, 2023.

The US pledges a $553 million investment in the Adani-owned Sri Lanka port to curb Chinese Influence

08 Nov 2023

In a strategic move aimed at countering China's influence in South Asia, the United States has pledged a substantial $553 million in financing for the development of a port terminal in Sri Lanka's capital, Colombo.

WeWork, formerly the most valuable US startup, declares bankruptcy under SoftBank ownership

07 Nov 2023

WeWork, the once high-flying office space provider backed by SoftBank Group, filed for bankruptcy protection on Monday, 6 November 2023.

ESPN valued at $24 billion, Apple and Verizon among likely buyers

03 Nov 2023

According to BofA Global Research, the Disney-controlled ESPN sports network is currently exploring opportunities to attract investments from various sources

LinkedIn hits milestone with 1 billion members and unveils new AI features for subscribers

02 Nov 2023

In a special milestone, LinkedIn, the business-focused social network owned by Microsoft, announced on Wednesday, 1 November, 2023, that it has crossed the one billion-member mark.

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