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French drugmaker Sanofi, recently said that it will cut up to 1,680 jobs in Europe in an attempt to cut costs and lift profits. According to a Reuters report, the company currently employs more than 100,000 people worldwide. The downsizing is a part of a broader strategy put in place by company Chief Executive Officer…
U.S.-based Carlyle Group Inc recently announced that it has agreed to buy a 20% stake in the pharmaceutical unit of Indian conglomerate Piramal Enterprises Ltd for about $490mn. Both the companies have jointly announced the transaction in a statement. Piramal Pharma in a statement said that it will use the capital injection to accelerate its…
Oziva, a clean label, plant-based nutrition brand, announced that it has raised $5 million led by Matrix Partners, according to an ETtech report. Existing investor Titan Capital also participated in the funding round. The company will utilise the capital infusion to invest deeper in R&D, technology, team expansion, as well as to widen its customer…
Nuvolo, the world’s leading Connected Workplace Company, and the largest Built on Now partner, announced a new alliance with Deloitte. The alliance will leverage the power of Nuvolo’s built on ServiceNow Facilities Management and Space Planning capabilities, and the experience of Deloitte’s Real Estate & Location Strategy and ServiceNow Practices. Deloitte will serve as an…
Tata Consultancy Services (TCS), a global IT services, consulting and business solutions organization, announced that it has been named as a Global Leader in the Zinnov Zones for Engineering R&D Services, for the seventh consecutive year. The report recognized TCS’ Leadership in engineering in industries such as automotive, aerospace, construction and heavy machinery, consumer electronics,…
ABB Power Grids India announced that it has signed a Memorandum of Understanding (MoU) with the National Institute of Technology, Warangal (NITW), Telangana, for cooperation to drive smart electric grid technology education, skills development and research activities. “India’s electric grid is transforming with the penetration of renewables and need for reliable power under the ‘One…
Hindustan Unilever Limited (HUL), India’s largest fast-moving consumer goods company, announced that it has completed the acquisition of intimate hygiene brand VWash from Glenmark Pharmaceuticals Ltd. This acquisition was announced on March 23, 2020 and was subject to certain closing conditions, which have now been fulfilled, the Company said in their press statement. Launched in 2013…
Sundram Fasteners Limited (SFL), a part of the US $8.5 billion TVS Group, announced that it was named as GM Supplier of the Year by General Motors (GM) during a virtual ceremony honoring the recipients of the Company’s 28th Annual Supplier of the Year awards on Wednesday, June 24, 2020. During the event, GM recognized 116…
Sterling and Wilson Solar Solutions, Inc, the US subsidiary of Sterling and Wilson Solar Limited (SWSL), one of the world’s largest solar EPC solutions providers, announced that it has been awarded a Rs 747 crore contract to construct a 194 MW project in the United States of America. It is being developed by a leading…
ITI Limited, a PSU Manufacturing Telecom & Defense Equipment and Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services, announced that they have signed a Memorandum of Understanding (MoU) to work together in the areas of 4G & 5G smart networks, Smart Cities and Health Care services. ITI and Tech Mahindra…
According to the India Skill Report (2019), only 45.6% of the youth graduating from educational institutions are employable. This reflects the massive shortage of skilled workforce in the country. To tackle the situation and help job seekers enhance their skills, the Ministry of Skill Development and Entrepreneurship (MSDE) has recently entered in partnership with global…
Galaxy Semiconductor, Inc. recently announced that it has signed a definitive agreement to acquire substantially all of the assets of the Quantix Business from Mentor Graphics Corporation, a Siemens-owned business. The acquisition will allow Galaxy to re-establish itself as the independent provider of test data management and analysis solutions for the semiconductor industry. The transaction…
Health insurance company Oscar announced that it has closed a $225mn funding round. The round positions Oscar to continue growth off of a $2 billion revenue base and puts the company on a path to further advance its mission. The latest fundraising round saw participation from many existing investors, including Alphabet, General Catalyst, Khosla Ventures,…
Automobile manufacturer Navistar International Corporation recently announced that its board of directors has appointed Persio V. Lisboa as President and Chief Executive Officer. He will be succeeding Troy A. Clarke who will now serve in a new position as Executive Chairman. The appointment will come in effect on July 1, 2020. Speaking about the elevation…
Cannabis supply chain management company, Radiant Ventures recently announced the appointment of Virender Ahluwalia as the company’s Chief Financial Officer. “Ahluwalia brings decades of executive financial leadership experience managing and building high-performance teams at early stage and high growth ventures,” said a company statement. Ahluwalia has been associated with several businesses before joining Radiant. His…