There have been more instances of a management team buying out the owners of a company after the pandemic. There are eight such transactions, called management buyouts (MBOs), in the five years ending 2024, according to data from tracker LSEG shared with Business Standard.
Chinese sporting authorities have cancelled next month's friendly international between Argentina and Nigeria amid a growing backlash against Lionel Messi's failure to play in an Inter Miami match in Hong Kong last week.
Flamboyant batsman Chris Gayle has lashed out at former teammate Sarwan calling him 'worse than coronavirus'. Gayle, the colossal figure in the shortest format of the game blamed Sarwan for his departure from Tallawahs. The Caribbean Premier League (CPL) franchise Jamaica Tallawahs said that former batsman Sarwan has nothing to do with Gayle's departure from the side and the decision was completely based on 'business and cricketing reasoning'.
Over the past decade, a change in consumer choice swept through the battery industry - the walkman lost its mojo, smartphones took over cameras and batteries were tucked away in remotes and wall clocks that hardly needed frequent call-ups. The result: Brand Eveready lost mind space. And the company's attempt to stick to the on-ground marketing activities didn't quite help. But Eveready, now at the cusp of change, is putting things right - a new Give Me Red television commercial has been launched after a gap of 7 years featuring an empowered bride ski-diving to her wedding venue. The creative, according to Eveready sources, is in sync with the brand doctrine.
The Union Cabinet on Wednesday gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
The Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent, with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
More than 300 posts of independent directors have still not been filled.
In terms of expansion, a little more than half of the family businesses are open to internationalisation, while 40 per cent are looking at diversification, a PWC survey said. Even Indian family businesses are increasingly looking at diversification and exploring newer markets, it added.
Instead of the minority stake they held earlier, now they have controlling stake in many firms
Signalling an imminent change in SpiceJet's ownership, potential investors including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline.
Summary of sports events and persons who made news on Friday
RBI and Sebi are close to reaching an agreement for providing waiver of existing norms to banks.
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
'What exists instead is a clear gap between skilled people and the work at hand.' 'Employers on most occasions find it difficult to find a match between the two,' Adi Godrej tells Viveat Susan Pinto and Niraj Bhatt.
The 30-share Sensex provisionally ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.
To invest $1 bn in realty sector, mulls new funds; has done exits worth Rs 8,000 crore, says founder
The 30-share Sensex ended up 140 points at 28,262 and the 50-share Nifty was up 37 points at 8,551.
'If the BJP wins UP and one or two other states, it could get emboldened and press ahead with its reckless agenda, as well as its divisive agenda.' 'If the BJP fails to form the government in UP and suffers a setback in Punjab and maybe one other state, it could go either way: It could become more reckless or pull back, pause and take stock, moderate its position.'
Despite the headwinds both on the domestic and global fronts, Ramesh S Damani, member, BSE and a prominent investor, says India will weather a global trade war better than a lot of other Asian countries.
The issue is likely to be discussed on Thursday at a meeting of Sebi's board, which would also be apprised of the impact of the Finance Ministry's decision for not agreeing to such a proposal from the capital markets regulator, sources said.
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
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