Facebook founder and CEO Mark Zuckerberg, along with his three top leutinants, will get about USD 2 million in just salaries and bonuses, but cannot work on creating a rival to the social networking giant.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Global market regulators are keen to have a close look at a model for assessing corporate governance, developed for the first time by Securities and Exchange Board of India.
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
This settlement relates to an accounting fraud perpetrated by the company's former management from at least 2003 through September 2008.
Business process outsourcing company Genpact has set the ball rolling for a $600 million (around Rs 2,500 crore) initial public offer on New York Stock Exchange
The US government has asked a court in New York to slap a maximum penalty of $15 million on India-born fallen Wall Street titan Rajat Gupta and permanently bar him from serving as director of any publicly-traded firm for his "terrible breach of trust" by indulging in insider trading.
This was disclosed in a filing to the US Securities and Exchange Commission, in which Motorola outlined the compensation that Jha stands to gain.
De Castro is the second big appointment that Yahoo! has made from its rival Google. Earlier this year, Yahoo! appointed former Google executive Marissa Mayer as its chief executive.
Pharmaceutical major Dr Reddy's Laboratories Ltd on Tuesday said it will offer up to 13.5 million American Depositary Shares.
Facebook co-founder Dustin Moskovitz has sold another 450,000 shares of the social networking major so far this week, reducing his holding to just 6.15 million of Class A stock, which have lesser voting rights than Class B stock.
UAL and Continental Airlines closed their merger on October 1 creating the world's largest carrier by traffic.
The SEC is talking tough about changing how these agencies work. But we have a few suggestions of our own for how to make ratings firms credible again.
The England and West Indies cricket boards suspended sponsorship negotiations with financier Allen Stanford following fraud allegations against the Texas billionaire on Tuesday. The US Securities and Exchange commission charged Stanford and three of his companies with alleged fraud involving a multi-billion dollar investment scheme.
Yahoo!'s new Chief Executive Marissa Mayer will get a compensation package of more than $59 million over the next several years.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Kraft Foods, the world's second biggest food company, has said it is facing investigation by the Securities and Exchange Commission (SEC) for possible corrupt practices in India by its arm Cadbury, relating to a manufacturing plant there.
The Wall Street Journal has reported that the SEC has contacted many investment banks whose analysts cover generic drug-maker Mylan, asking about a meeting the company hosted last September with those analysts and a group of investors.
Attracted by what he calls a highly lucrative market for long-term investors, an Indian American has launched a private investment partnership to trade stocks of small- and medium-sized Indian companies that offer abundant investment opportunities.
SEC rules require companies with 500 or more shareholders of record in a given type of stock to publicly disclose certain financial information.
"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
Thiruvananthapuram-born Dr Zachariah P Zachariah, a prominent cardiologist in Fort Lauderdale, Florida, has been exonerated of all charges in a long-standing US Securities and Exchange Commission insider trading case.
Attributing to people familiar with the plan, the Financial Times said that SEC and Federal Reserve officials were warned by Merrill Lynch about Lehman's balance sheet calculations as far back as March 2008.
A latest filing by the company to the US regulator Securities and Exchange Commission stated, "Eric, Larry and Sergey have voluntarily elected to receive only nominal cash compensation. Their primary compensation continues to come from returns on their ownership stakes in Google." Consequently, the company's top executives -- Schmidt, Page and Brin -- do not receive any salary or plan-based bonus other than one dollar per year, proxy statement filed by Google stated.
In a filing to the Securities and Exchange Commission, Yahoo said executive vice president of the American region Hilary Schneider will be 'leaving Yahoo after a transition period.'
Citigroup Inc has defended its $75 million settlement with the Securities and Exchange Commission over under-declaration of its subprime mortgage exposure, setting the stage for a federal judge to decide on whether to approve the deal, according to a media report.
Goldman Sachs is likely to face a fine of around 20 million pounds from UK financial regulator FSA, just months after US Securities and Exchange Commission imposed a penalty on the banking major, a media report said.
Titan's October-December quarter (Q3) business update claims 22-23 per cent revenue growth in the standalone jewellery sales (excluding bullion sales), implying a 4-year compound annual growth rate (CAGR) of 21.3 per cent. Store additions also looked healthy, with 21 new Tanishq stores opened in Q3, taking the total count to 466 (+43 in 9 months of FY24) including two in the US and one in Singapore. Titan added 90 stores in Q3, pushing its total retail outlets to 2,949 (including CaratLane).
Mahua asserted that despite all efforts by the Bharatiya Janata Party to "sound the death knell" for constitutional democracy, India is too great a country to be destroyed by the fascists.
Sebi is learnt to have written to several regulators including those in Bermuda, Luxembourg, and Switzerland, seeking detailed information on some FPIs.
Jha's compensation for 2010 included a salary of $900,000 and stock and option awards of about $10 million, the company said in a filing with the Securities and Exchange Commission on Tuesday.
After oscillating over 486 points, the 30-share Sensex settled 38.44 points, or 0.10 per cent, lower at 39,020.39. It hit an intra-day low of 38,840.76 and a high of 39,327.15.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
'Nehru remains central to the polemic between the Congress and the BJP, or stated ideologically, between secular and Hindu nationalism.' 'The reason is that Nehru represents what is optimally possible as a secular politics along with liberalism and democracy in a country like India.'
Lawyers of embattled Goldman Sachs met with representatives of the US market regulator SEC this week, a move seen as an attempt to settle the lawsuit against the banking major, according to reports.
Sunil Bhalla, a senior executive with Polycom, along with three others was named in fresh charges filed by the US Securities and Exchange Commission on Monday.
Infosys Technologies is now compliant with Section 404 of the United States' Sarbanes Oxley Act of 2002 (SOX Act) well ahead of the mandatory deadline of March 31, 2007.
She was found guilty in January of duping investors and lying about the technology after a three-month trial.
Prabhat K Goyal, CFO, Network Associates, faces criminal charges for an accounting scam that duped investors by inflating the company's sales figures.
