One of the world’s largest steel producers ThyssenKrupp, on Monday announced the appointment of Vivek Bhatia as the Managing Director and Chief Executive Officer of ThyssenKrupp Industries India. This appointment will be effective from January 1, 2019. “I am pleased to welcome Vivek to his new role and thrilled to have his leadership at ThyssenKrupp Industries…
Taiwanese multinational electronics contract manufacturing company, Foxconn Technology Group will invest well over Rs 1,500 crore to have new production lines to manufacture certain iPhone models in its factory in Sriperumbudur near Chennai, according to an ET post. Currently, Wistron, another Taiwanese smartphone manufacturing company makes Apple phones such as the iPhone 6S and SE models in Bengaluru in…
The Debt-laden Infrastructure Leasing & Financial Services (IL&FS) on Wednesday announced the appointment of retired Indian Administrative Service official Bijay Kumar as its deputy managing director. The company has also appointed N Srinivasan as a non-executive director of the company. According to the company’s regulatory filing, the decision about their appointments took place during the board…
Global investment firm KKR-backed hospital management company Radiant Life Care has acquired a majority stake in Max Healthcare Institute Limited from Max India Limited. Radiant Life Care will be acquiring 49.7% stake in Max Healthcare from South Africa-based hospital operator Life Healthcare in an all-cash deal. The acquisition will be followed by a de-merger of…
The world’s largest furniture retailer IKEA is planning to invest Rs 5,000 crore in Uttar Pradesh. IKEA, which is planning to set-up a large format store in Noida, has signed a memorandum of understanding (MoU) with the Uttar Pradesh government for opening stores in the state. The investment would create over 8,000 direct and indirect job opportunities…
Online food delivery startup Swiggy has raised $1 billion in a fresh round of funding led by South African multinational internet and media group Naspers, with the entry of new investors like China’s Tencent, Hillhouse Capital, and Wellington Management. Avendus Capital was the financial advisor to the transaction. According to sources, with this new round of funding…
Apple Inc. the American multinational technology company headquartered in California, today announced that John Giannandrea has been named to the company’s executive team as senior vice president of Machine Learning and Artificial Intelligence Strategy. He joined Apple in April 2018. Apple’s move comes as the company’s HomeKit devices are facing competitions from Amazon’s Echo and…
Microsoft-owned LinkedIn, the business and employment-oriented service that operates via websites and mobile apps, on Thursday announced the appointment of Mahesh Narayanan as Country Manager for India, effective from January 7, 2019. Narayanan has over two decades of experience in building and growing digital businesses in South Asia. Previously, he has served many digital business…
GlaxoSmithKline plc has reached an agreement with Pfizer Inc to combine their consumer health businesses into a new world-leading Joint Venture, with combined sales of approximately £9.8 billion ($12.7 billion). The JV will operate globally under the GSK Consumer Healthcare name. Under the terms of the transaction, GSK will have a majority controlling equity interest…
Tata Motors on Wednesday announced the appointment of Ravindra Kumar G.P as its President & Chief Human Resources Officer. “Ravindra will oversee all human resource operations for Tata Motors, effective December 17, 2018. He will report into Mr. Guenter Butschek, CEO Tata Motors and will be a member of the Executive Committee.” the company said…
India’s leading ride-hailing company Ola has decided to invest an additional $100 million in scooter-sharing startup Vogo, this new funding will help the firm to expand its current fleet. The scooter-sharing startup started its service eight months ago with 2000 scooters in Bengaluru and Hyderabad, now with this new funding, the firm can acquire 100K new scooters that…
IDFC Bank Ltd. and Capital First Ltd. today announced the completion of merger following the approval of shareholders and regulators. The merged entity will be called IDFC First Bank, subject to shareholders’ approval. V Vaidyanathan, Founder and Chairman of Capital First will be the Managing Director and Chief Executive Officer of the merged entity. He…
Tata Motors’s subsidiary Jaguar Land Rover Limited is likely to cut jobs next year as part of its £2.5 billion cost-saving plans. However, the UK-based luxury carmaker declined to comment on reports. After a loss of £90 million in the three months to September, hit by falling sales in China and Europe, JLR started focusing on improving profitability and cashflow.…
Hitachi, Ltd. the Japanese multinational conglomerate company headquartered in Tokyo, today announced that it has decided to acquire the world-leading power grids business from Switzerland based ABB Ltd and has signed an agreement with ABB. The firm plans to initially acquire an 80.1% stake in the Power Grids business and expects to close the acquisition…
Shriram Properties Limited (SPL), one of the leading residential real estate development companies, primarily focused on the mid-market and affordable housing categories in South India, has announced the appointment of 5 independent directors from diverse backgrounds to its Board of Directors. The 5 new independent directors who have joined the board are: T.S.Vijayan – Former…