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Uber acknowledges 'mistakes'; says it's a changed company now

Uber acknowledges 'mistakes'; says it's a changed company now

Rediff.com13 Jul 2022

With a report on Uber by the International Consortium of Investigative Journalists (ICIJ) opening a Pandora's box, the company is in a damage-control mode. Distancing itself from the actions of its management pre-2017, Uber, while acknowledging the "mistakes" of the past, has said that under CEO Dara Khosrowshahi, it "is a different company". "There has been no shortage of reporting on Uber's mistakes prior to 2017.

Market correction insufficient and pressure to continue, says Nomura

Market correction insufficient and pressure to continue, says Nomura

Rediff.com10 Jun 2022

The correction seen in the stock markets thus far is insufficient and there are significant downside risks, given the way macroeconomic data is shaping up, a Nomura equity strategist said on Thursday. "The markets are trying to look through the current stress we see in the macros. There are potential risks to the market. "Our estimates assume no major impact on growth and earnings. "The market should have been at least 5 per cent lower than it is now.

Ambani edges past Adani to being Asia's richest

Ambani edges past Adani to being Asia's richest

Rediff.com4 Jun 2022

Ambani's wealth jumped $3.59 billion in the past 24 hours, while Adani added $2.96 billion to his net worth.

Adani-Holcim deal: Open offers for Ambuja Cements and ACC from July 6

Adani-Holcim deal: Open offers for Ambuja Cements and ACC from July 6

Rediff.com24 May 2022

The open offers for the shareholders of Ambuja Cements and ACC will begin from July 6 and close on July 19, as per a tentative schedule published by the Adani family today. With an investment of $4 billion (Rs 31,139 crore), together these two open offers might constitute the biggest open offer in corporate Indian history. The mandatory open offer for the companies was made by a Mauritius based company owned by the Adani family after they acquired a 63 per cent stake in Ambuja and 4.5 per cent in ACC from Swiss cement major, Holcim for $6.5 billion. Ambuja owns a 50 per cent stake in ACC.

How will Omicron fearful market fare?

How will Omicron fearful market fare?

Rediff.com21 Dec 2021

Whether earnings growth sustains will be crucial to determining how Indian equity markets fare in the days to come.

No extension in AGM deadline beyond June 30, 2022

No extension in AGM deadline beyond June 30, 2022

Rediff.com10 Dec 2021

The ministry of corporate affairs has clarified that companies whose annual general meetings are due in 2021 have to conduct them within the specified time limit and video conferencing is allowed till June 30,2022. MCA has said that its circular should not be construed as conferring any extension of time for holding annual general meetings by the companies under the Companies Act, 2013. "Companies which have not adhered to the timelines shall be liable to legal action under the appropriate provisions of the Act," MCA said. In September, MCA had allowed a two-month extension to the deadline for companies to hold their annual general meeting for the financial year ending March 31, 2021.

At 4.5 mn, PC shipments in Q3 is biggest ever single qtr dispatch

At 4.5 mn, PC shipments in Q3 is biggest ever single qtr dispatch

Rediff.com19 Nov 2021

Indian PC shipments for the third quarter of CY21 touched a total of 4.5 million, making it India's biggest-ever single quarter. To put this in perspective, it is bigger than the total yearly consumer shipments in 2019, a year before the pandemic hit. As a result, many brands also reported their biggest quarter of PC shipments.

Hiring demand up 9% YoY in Oct: Monster

Hiring demand up 9% YoY in Oct: Monster

Rediff.com10 Nov 2021

Hiring demand for the month of October 2021, witnessed a dip of 3 per cent, as compared to September 2021. However, job demand grew 9 per cent sequentially in the past six months showing an optimistic outlook to recovery, said the Monster Employment Index. There has also been a strong year-on-year recovery with a 9 per cent uptick in October 2021 (Oct 2021 vs Oct 2020).

Bihar panchayat poll goes hi-tech, to use AI to count votes

Bihar panchayat poll goes hi-tech, to use AI to count votes

Rediff.com28 Oct 2021

AI implementation enabler Staqu will deploy its proprietary video analytics system JARVIS to count votes directly from the camera by monitoring the electronic voting machines screens at the counting centre.

'Growth has revived in certain segments'

'Growth has revived in certain segments'

Rediff.com9 Oct 2021

'There are some high-frequency indicators where uptick is visible and some where it is not'

Adani stocks: Rs 1.59 trn market-cap wiped out

Adani stocks: Rs 1.59 trn market-cap wiped out

Rediff.com18 Jun 2021

Shares of the six listed Adani group stocks tumbled for the fourth day on Thursday, resulting in Rs 1.59 trillion market cap loss this week. Adani Power, Adani Total Gas and Adani Transmission hit their 5 per cent lower trading limit for a fourth straight day.

India tops ransomware attacks globally

India tops ransomware attacks globally

Rediff.com2 Jun 2021

About 67 per cent of Indian organisations whose data was encrypted paid a ransom to get back their data-a slight increase on the previous year when 66 per cent paid a ransom. In fact, Indian entities were the most likely to pay a ransom of all countries surveyed: the global average was just under a third (32 per cent). These were the findings of the global survey 'The State of Ransomware 2021' conducted by cybersecurity firm Sophos. The survey findings further stated that the total cost of recovery from a ransomware attack has more than doubled in a year, increasing from $761,106 in 2020 to $1.85 million in 2021 globally.

Bombay HC stays investigation against Indiabulls Housing

Bombay HC stays investigation against Indiabulls Housing

Rediff.com29 Apr 2021

In its order, the court cast serious doubts on the bonafides of the complainant - Ashutosh Kamble, a shareholder of the company.

Adani inks JV with EdgeConnex for data centre business

Adani inks JV with EdgeConnex for data centre business

Rediff.com24 Feb 2021

Adani Enterprises, the flagship company of the Adani group, on Monday said it had entered into a 50:50 joint venture (JV) with EdgeConnex, a leading global data centre operator, to develop and operate data centres across India. The idea behind the JV, AdaniConneX, was to leverage the two partners' complementary expertise and capabilities, it said. In addition to full-scale data centres, AdaniConneX will also develop a portfolio of Edge data centres strategically located across the country to address the need for more proximate capacity.

Budget 2021: Bad bank will be a win-win for lenders

Budget 2021: Bad bank will be a win-win for lenders

Rediff.com3 Feb 2021

All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.

SEE; Mumbai-Ahmedabad bullet train

SEE; Mumbai-Ahmedabad bullet train

Rediff.com21 Dec 2020

'Once finished, the project will reduce the travel time between Mumbai and Ahmedabad to just over two hours.'

Wipro's share buyback decision on Oct 13 board meeting

Wipro's share buyback decision on Oct 13 board meeting

Rediff.com9 Oct 2020

The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.

Vodafone Idea hints at raising tariffs

Vodafone Idea hints at raising tariffs

Rediff.com8 Sep 2020

The two independent brands Vodafone and Idea will be phased out, and the legacy of the two companies will reflect in the common brand -- Vi.

Revealed: Why Urjit Patel quit as RBI governor

Revealed: Why Urjit Patel quit as RBI governor

Rediff.com25 Jul 2020

Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.

Facebook, Saregama ink global licensing deal

Facebook, Saregama ink global licensing deal

Rediff.com4 Jun 2020

This partnership will allow users to choose from a wide variety of music to add to their social experiences such as videos, stories via music stickers and other creative content.

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