By Francisco Dao On October 1, 2013Everywhere you turn, the advice is the same. Love your work. Love your startup. Do what you love, and you’ll never work again. In the startup world, it seems the Beatles were right, all you need is love. But when…
Category: News
Info graphic shows that VC firms cut loads of deals this quarter
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Shareholders of Cooper Tire & Rubber Company approve merger with Apollo Tyres
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Cooper Tire & Rubber Company has announced that its stockholders have approved its pending merger with a wholly-owned subsidiary of Apollo Tyres Ltd. The merger on completion will result in a strategic business combination that creates the seventh-largest tire company in the world. Cooper and Apollo announced the proposed merger on June 12, 2013 following…
Indian Overseas Bank & Indian Bank gets new ED
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Atul Agarwal, Indian Overseas Bank Atul Agarwal has joined Indian Overseas Bank as its Executive Director effective September 27. Earlier, he was a General Manager with Central Bank of India. Atul had started with Union Bank of India as Probationary Officer in 1978. He moved to Central Bank of India as Assistant General Manager in…
Danny Ludeman to retire from Wells Fargo Advisors (WFA), Mary Mack to take charge effective Jan, 2014
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Danny Ludeman will retire from Wells Fargo Advisors (WFA) after 34 years of helping build one of US’s most successful brokerage firms, with 15,000 advisors and management of more than $1 trillion in client assets. Mary Mack, who currently serves as head of the WFA Financial Services Group, will succeed Ludeman effective Jan. 1, 2014.…
Siemens plans to axe 15,000 jobs
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Siemens AG (SIE)’s new Chief Executive Officer Joe Kaeser has plans to eliminate over 15000 jobs. The company has already been undertaking job cuts and certail realignment in its businesses following the “Siemens 2014” efficiency program, however it seems that the number of planned cuts have swelled after Joe Kaeser stepping in the CEO’s role.…
J. P. Chalasani CEO of Reliance Power to exit by end of year.
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Reliance Power – Anil Ambani group business, in its stock exchange filing has communicated the exit of its CEO. J. P. Chalasani, CEO of Reliance Power, has resigned to pursue entrepreneurial ambitions. It is learnt that he would relocate overseas once he exits the company by the end of this year. JP Has been with…
Bindaas Bol! – Platform for employee interaction at Fortis Hospital – Mulund
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Bindaas Bol! is a version of the town hall concept successfully adapted by Fortis Hospital, Mulund to provide a platform for employees to communicate with the Management team. On a bimonthly basis, a senior management team member addresses a cross-section of employees of the hospital to highlight achievements of the previous months, share customer…
Shriram Capital MD CEO R Sridhar exits from his executive role
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R Sridhar, the Managing Director and Chief Executive Officer for Shriram Capital has stepped down from his full-time executive role in the company. Sridhar, has been with Shriram Group for the last 28 years in various roles and predominantly as the CEO in its flagship NBFC Shriram Transport Finance Company. He would however continue to…
eBay Inc. to acquire Braintree for $800 million.
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eBay Inc. will be acquiring Braintree, a leading payment platform for total consideration of approximately $800 million in cash. Braintree powers some of the leading online and mobile-first start-ups such as such as Airbnb, OpenTable, TaskRabbit and Uber. Once the acquisition is completed, Braintree will continue to operate as a separate service within PayPal under…
Cadila Pharma to invest Rs 100 crore in Jammu unit
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Cadila Pharmaceuticals Ltd plans to invest another Rs 100 crore in its Jammu unit. The funds would be directed towards expansion, up gradation and modernisation of its facility at Samba in Jammu district. The facility had commenced phase-one commercial production at this unit in August 2006 with an initial investment of Rs 100 crore. The…
IBM to sell its Customer Care business to Synnex Corp. for $ 505 million
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IBM (NYSE: IBM) and SYNNEX (NYSE: SNX) Corporation have announced a definitive agreement in which SYNNEX will acquire IBM’s worldwide customer care business process outsourcing services business for $505 million, consisting of approximately $430 million in cash and $75 million in stock. The acquisition will be branded and fully integrated with Concentrix, a wholly owned…
Leadership changes at Nokia, post sell off of devices and service businesses to Microsoft
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Following the announcement of Nokia’s devices and services businesses to be acquired by Microsoft, Nokia also announced changes to its leadership as a result of the proposed transaction. These changes, which are effective immediately, are designed to provide an appropriate corporate governance structure during the interim period following the announcement of this transaction. The Nokia…
Nokia to sell Devices & Services business to Microsoft in EUR 5.44 billion
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Nokia Corporation has announced that it has signed an agreement sell all of its Devices and Services business, and licence all its patents to Microsoft for EUR 5.44 billion in cash. The transaction is expected to close by first quarter of 2014, subject to the approval of Nokia shareholders. The transaction includes: the Mobile Phones…
Samsung Engineering CEO Park Ki Seok fired.
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Samsung Group has fired the Samsung Engineering Chief Executive Park Ki-seok following an accident at one of its sites last week. The explosion of water tank in South Korea killed three workers and injured over 10. Samsung Engineering was building the water tank at a factory for another Samsung joint venture between Samsung Fine Chemicals…