“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
Amazon CEO Jeff Bezos is now more fully involved in the daily operations of the company, after having spent the past few years almost exclusively focused on long-term projects. Bezos has said he prefers working 2 to 3 years into the future, and he rarely gets pulled into the daily oversight of the company — … Read more
Warren Buffett’s Berkshire Hathaway sold its Costco position after investing more than 20 years ago, a filing revealed this week. The billionaire investor’s company grew its stake in the big-box retailer from 355,000 shares worth $32 million in 1999, to 4.3 million shares worth $1.3 billion in June of this year. The sale is a … 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
WhatsApp has introduced a new feature called “disappearing messages”, which would allow users to ensure that their messages are not saved on the instant messaging platform forever. The ‘self-destruct” automated feature will roll out for users through this month. “When “disappearing message” is turned on, new messages sent to a chat will disappear after 7 … 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
Kishore Biyani’s deal to sell off Future Group assets to Mukesh Ambani’s Reliance Industries for Rs 24,713 crore is now on hold. The Singapore International Arbitration Centre (SIAC) has granted an interim relief in the issue to the Jeff Bezosled Amazon, for now, two people aware of the matter said. Earlier this month, Amazon had … Read more