Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under pressure to deliver. The 63-year-old Indian tycoon is focused on a … Read more
“Vedanta has emerged as a preferred bidder for the company,” an executive aware of the matter said. The Vedanta group was engaged in protracted negotiations with a State Bank of India-led group of lenders after submitting its first offer. It later bettered the bid in the last week of November, according to executives aware of … Read more
Info Edge on Friday said its investee company Zomato has raised $195 million (about Rs 1,455.4 crore) in funding from six investors including Luxor, Kora and Steadview, valuing the online food ordering platform at $3.6 billion. “Zomato Pvt Ltd has closed a primary fundraise of $195 million from six different investors…The transactions valued Zomato at … Read more
Ant said that its listing had been suspended by Shanghai following a recent interview regulators held with its founder Jack Ma and top executives. Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s … Read more
Advent, in partnership with former TransUnion CEO Jim Peck, will accelerate Nielsen Global Connect’s transformation and support its continued innovation in consumer and market measurement Nielsen to hold a conference call to discuss today’s announcements as well as its third quarter 2020 financial results at 8:00 a.m. U.S. Eastern Time (ET) on Monday, November 2nd, … Read more
The Shapoorji Pallonji Group on Thursday said it has submitted a plan to Supreme Court to end its seven decades-old association with the Tata Group. The Mistrys have valued their holding in the Tatas at Rs 1.75 lakh crore, it informed the apex court, which is hearing the long-drawn legal battle between the two groups … Read more
Since June, the company has said it will scrap drinks such as Tab, Zico, and Odwalla. It would likely remove more brands from its “hydration” category, which includes brands like Dasani, Powerade, and Smart Water, CEO James Quincey said. This would allow it to focus on stronger brands or those with growth potential, the company … Read more
Ikea customers in the UK and Ireland will be able to sell used furniture back to the retailer for up to half the original price. Ikea will then resell this second-hand furniture as part of a scheme that starts on Black Friday, November 27. Customers get an in-store voucher when they bring back their furniture, … Read more
Driven by industries like pharma, fast-moving consumer goods, education and IT, hiring activity in India saw a growth of 24 per cent in September compared to the previous month, according to a new report by job portal Naukri on Monday. Further opening up of the economy with unlock measures and increased mobility has led to … Read more