All NEWS
EU to impose stricter norms on tech giants for regional operations
EU has reportedly shortlisted 20 tech giants that will be compelled to follow the new norms. This move is intended to dissolve the monopoly gained by the listed companies. The European Union (EU) has reportedly developed a list of technology giants who will have to follow stricte... Read More
Citigroup charged US$400 million for deficits in risk management
U.S.-based financial services company, Citibank has recently faced scrutiny from The Office of the Comptroller of the Currency for deficits in its risk management and internal controls processes. According to the agency, there were some longstanding and serious deficiencies, and unsafe practice... Read More
Southwest Airline CEO Announces Pay Cuts to Avoid Layoffs Through 2021
Gary Kelly, the CEO of Southwest Airlines, stated that if union workers agree to pay cuts, the enterprise can avoid layoffs and furloughs at least through 2021. Kelly warned the airlines could be enforced to follow rivals and lay off numerous employees due to the crisis caused by the coronavirus ... Read More
The U.S. Takes Stake in TechMet; Undercuts Dependence on China
The U.S. government acquires an equity stake in TechMet Ltd., a battery-metals company. This move risks the dependence on China for a primary material used in electric vehicles. The Dublin-based company confirmed that the U.S. International Development Finance Corporation (DFC) has invested $25 m... Read More
TCS board plans to convene to consider a new share buyback program
The board of Tata Consultancy Services (TCS), a leading Information technology consulting firm based out of India, is reportedly planning to convene later this week to consider a new share buyback program to buy equity shares of the firm. The meeting is scheduled to be held on the 7th of October 202... Read More
Reliance announces General Atlantic’s $500M investment for 0.84% stake
Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries, has reportedly announced an investment of ?3,675 crore (nearly $500 million) by General Atlantic. On a fully diluted basis, the investment will translate into an equity stake of 0.84% in Reliance Retail. As per the pre-money equit... Read More
Tata Group in talks with several investors for its new digital platform
The group is reportedly planning to consolidate its wide array of digital assets in an all-in-one e-commerce platform. New investors might also help Tata cut its debt following the shutdown of its operations amidst COVID-19 pandemic. Indian multinational conglomerate Tata Group h... Read More
Japanese chipmaker Kioxia plans to delay the release of its IPO
Kioxia Holdings, the world's second-biggest producer of NAND flash memory chips, has decided to postpone its plans of releasing an initial public offering (IPO) amidst the ongoing US-China trade war. Reportedly, stricter U.S. restrictions on Kioxia’s prominent client, Huawei Technologies, ... Read More
Vodafone Idea starts upgrading its 3G users to 4G in key markets
Vodafone Idea Limited has reportedly begun upgrading its 3G subscribers to 4G in its crucial markets. The company has also announced its best position to proceed with the upgradation of its 2G users to 4G but will continue with the delivery of basic voice based services to its 2G customers, added so... Read More
UK Introduces a Task Force to Find Huawei's Replacement in 5G Networks
The British administration is introducing a new telecom task force to search for a supplier who will be capable of filling the gap created in the UK's 5G infrastructure by the ban on Huawei's equipment. By the end of 2020, UK’s mobile networks will be prohibited from buying a 5G kit... Read More