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Alaska Airlines, a major American airline headquartered in Washington, announced that it has secured nearly $1.2 billion in private loans to further secure its financial stability and future during the COVID-19 recovery period, while balancing the appropriate amount of liquidity. The debt financing will be funded on or around July 2. As part of an…
Israeli software giant Amdocs is reportedly laying off about 1,000 employees in Israel and globally due to the impact of the coronavirus pandemic. According to a report by news website Calcalist, with $691mn of Amdocs’s $1bn quarterly income coming from U.S. clients and the uncertainty surrounding the financial recovery in the world’s largest economy due…
Zetwerk Manufacturing Businesses Pvt. Ltd, a manufacturing services marketplace that provides global end-to-end manufacturing supply chain solutions, announced that it has raised $21 million Series C funding led by Greenoaks Capital, according to a TechCrunch report. Other investors that took part in the funding round include existing backers Accel, Kae Capital, Lightspeed and Sequoia Capital…
Talent marketplace for mothers The Mom Project recently announced that it has raised $25mn in Series B funding round led by growth investment firm 7GC. The funding round also saw participation from Citi, Synchrony, High Alpha, and Silicon Valley Bank. Existing investors Initialized Capital, Grotech Ventures, OCA Ventures, Aspect Ventures, Wintrust Financial, IrishAngels, and Engage…
Theravance Biopharma, a diversified biopharmaceutical company primarily focused on the discovery, development and commercialization of organ-selective medicines, announced the appointment of Deepika R. Pakianathan to its Board of Directors. Since 2001, Dr. Pakianathan has served as a Managing Member at Delphi Ventures, a venture capital firm focused on biotechnology and medical device investments and leads…
Hitachi Vantara, a wholly owned subsidiary of Hitachi, recently announced that it’s board of directors recently announced that it has appointed former Cognizant executive Gajen Kandiah as Chief Executive Officer, effective July 13, 2020. Toshiaki Tokunaga, the current CEO and Chairman of the Board of Hitachi Vantara, will transition responsibilities to Kandiah through Oct. 1,…
Kalyan Jewellers on Thursday announced the appointment of Sanjay Raghuraman as its first chief executive officer. Along with Sanjay’s appointment, the company also inducted Salil Nair and Anil Nair as directors on its board. Raghuraman was earlier serving as the chief operating officer of the company, Kalyan Jewellers said in a statement. Additionally, Salil Nair…
Tata Consultancy Services, a global IT services, consulting and business solutions organization, and Celonis, the market leader in AI-enhanced process mining and process excellence software, have announced a new global partnership to help customers streamline their business processes for greater operational resilience and efficiency. TCS will help customers adopt process mining to analyze processes, identify…
Ireland-based multinational professional services company, Accenture will reportedly cut upto 900 jobs in the United Kingdom. According to a Guardian report, the consultancy firm is set to lay off about 900 employees in the UK to reduce costs as the coronavirus pandemic lowers demand for its services. The company employs 11,000 people in offices across…
MPS Limited (MPS), a leading provider of content, learning, and platform solutions, announced that it has completed the acquisition of HighWire Press. HighWire has long been an industry thought leader and has championed many of the digital standards and initiatives that have shaped modern scholarly publishing. “MPS and HighWire share an ethos of embedding flexibility…
PDS Gaming, a worldwide provider of gaming equipment and financial solutions to the gaming industry, announced that Bob Woods has joined the firm as its new CEO. Bob has been closely involved with PDS Gaming for the past 15 years as a funding source and for the past three years as a member of the…
Sun Life Financial Inc, a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients, announced the completion of its majority stake acquisition of InfraRed Capital Partners. InfraRed will be part of SLC Management, Sun Life’s alternatives asset management business. The Company said that the acquisition will broaden…
United Kingdom’s flag carrier British Airways, which earlier said that it needs to cut 12,000 jobs and handover pay cuts to cabin crew, has now reportedly laid off 350 pilots. According to a report by The Sun, the airline has reached a deal with its pilots that will see 350 laid off and another 300…
Sole Source Capital LLC, an industrial-focused private equity firm providing capital to North American lower-middle market companies, announced the appointment of Sumil Menon as Head of Investor Relations, effective immediately. In his new role, Menon will lead the Firm’s investor relations and fundraising efforts. Menon brings more than 15 years of experience to Sole Source…
India’s eminent harm reduction advocate Samrat Chowdhery has been appointed as the President of the International Network of Nicotine Consumer Organisations. INNCO is a global body of 34 national advocacy groups that has been recognised with UN observer status. INNCO represents consumers of low-risk, alternative nicotine products and promotes tobacco harm reduction (THR) at the…