Bosch, the leading multinational engineering and electronics company headquartered in Germany has announced its plans to invest €100 million (around Rs 800 crore) over the next 3-4 years in the Indian market. The company said that the localized offerings include the top-loader washing machine, freestanding microwave oven, and mixer grinder. “Bosch Home Appliances will invest…
Tata Consultancy Services, (TCS), a leading global IT services, consulting and business solutions organization, has acquired the business of BridgePoint Group, LLC, a U.S. management consulting firm catering to the financial services industry, and specializing in retirement services, through the purchase of select company assets. TCS currently partners with eight of the top 10 US…
Ashok Leyland, the flagship of Hinduja Group, on Tuesday announced that it has set up a new 3S facility IFAD Autos in Dhaka, Bangladesh. The sales, service and spares facility, spread across 1.38 lakh square feet, is located at Madanpur, Narayanganj district on the Dhaka Chittagong highway, the city-based company said in a statement. “With…
Hospitality firm OYO on Tuesday named former Max Healthcare senior executive Rohit Kapoor as the head of its new real estate business, effective from December 6. Kapoor will be entrusted with the responsibility to drive new real estate business opportunities which will include exploring new domains and categories and other strategic initiatives, OYO said in…
WhatsApp’s chief business officer Neeraj Arora, on Monday, announced his decision to quit the company, marking another high-profile exit at the Facebook-owned messaging app. Arora has been serving the company since 2011 and through Facebook’s $19 billion acquisition in 2014. Earlier this year in April, WhatsApp co-founder Jan Koum left the company due to conflicts with Facebook on WhatsApp’s…
Japanese automaker Mitsubishi Motors, which is allied with Renault and Nissan, has fired Carlos Ghosn from his chairman position, a week after he was arrested over allegations that he under-reported his income by millions of dollars. Prosecutors allege Ghosn under-reported his income by $44 million over five years. As per Japanese law, a suspect can be…
Airtel Africa, Bharti Airtel’s African business unit has appointed eight global banks to work on an intended initial public offering (IPO). The banks appointed are J.P. Morgan, Citigroup, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, BNP Paribas, Goldman Sachs International, and Standard Bank Group, it said in an exchange filing. Earlier this month, Airtel…
Allahabad Bank on Thursday announced that the Centre is infusing Rs 3,054 crore into it as an investment during the current fiscal. “In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the bank has received a communication from the Government of India, Ministry of Finance, Department of…
Bombardier Inc., the multinational aerospace and transportation company based in Canada on Thursday announced its plans to cut 5,000 jobs as part of an effort to streamline operations and reduce costs. The Canadian plane and train maker has production and engineering sites in 28 countries and nearly 70,000 employees worldwide. Bombardier is currently in the middle…
Fortis Healthcare Ltd on Thursday said Bhavdeep Singh, the Chief Executive Officer (CEO) of the company has resigned from his position citing personal and professional reasons. “At the request of the Board, Mr. Singh has agreed to continue in his current capacity till such time his succession planning is crystallised,” Fortis said in a BSE…
Tesla Inc. has named Robyn Denholm as chair of its board, replacing its founder Elon Musk, who agreed to step down from the post as part of a settlement with U.S. Securities and Exchange Commission. Earlier, The Securities and Exchange Commission (SEC) filed a suit in New York accusing Musk of fraud, alleging his fake tweets about the electric…
Meesho, an Indian-origin social commerce platform on Tuesday announced that the company had raised $50 million in Series C funding from new investors including Shunwei Capital, DST Partners, and RPS Ventures. Existing investors Sequoia India, SAIF Partners, Venture Highway, and Y Combinator also participated in the round. Total funds raised by Meesho in three funding rounds…
Infosys on Monday announced that its global internship program, InStep, has been ranked number 1 in the best overall internship category by Vault.com’s latest survey on Top Internships for 2019. InStep, also earned the first position in the best consulting internship category, the second position in the compensation and benefits category, seventh position in the quality…
The US-based investment firm Tiger Global Management has advanced talks to invest $5-6 million each in two early-stage software companies Fyle and Facilio. “The New York-based investment firm has issued term-sheets to the two software companies, according to three people aware of the development,” ET reported. For the past three years, the firm stayed low by focusing…
Larsen & Toubro (L&T) on Friday announced that its construction arm, L&T Construction has won orders worth Rs 1,329 crore across business segments. Water & effluent treatment business won an order worth Rs 710 crore. Transportation infrastructure business won an order worth Rs 481 crore. Smart world communication business has secured an order worth Rs 138…