At a federal court hearing in Bridgeport, Conn., United Technologies and its two subsidiaries, Pratt & Whitney Canada and Hamilton Sundstrand Corp, pleaded guilty to violating Arms Export Control Act and making false statements in connection with its export to China of US-origin military software used in China's first modern military attack helicopter the Z-10
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. "Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the company said in a statement.
In what appears to be an astonishing revelation, a US-based scientist who worked at a controversial research lab in China's Wuhan, has said that Covid-19 was a "man-made virus" that leaked from the facility.
Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
Senvion SE will give Suzlon licence for off-shore technology for the Indian market.
A group of lenders to educational technology (edtech) giant Byju's has told the firm that they're open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byju's that they will not engage in the firm's proposal for one-on-one meetings, according to sources. Byju's recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facility, and disqualify the lender for its "predatory tactics".
Rather, cold reactions are expected considering the contentious issues the US is bound to raise -- Taiwan, human rights, and North Korea.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
The Serum Institute of India (SII) had put in an application to the Drugs Controller General of India (DCGI) in October for grant of market authorisation of Covovax for restricted use in emergency situations.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
The much-awaited ventilators as promised by United States President Donald Trump, is arriving on Monday.
With his elevation as the CEO of Twitter, Parag Agrawal, in whom co-founder of the microblogging giant Jack Dorsey has "bone-deep" trust, joins the growing power club of Indian-origin executives helming US-based global multinationals. Twitter's outgoing CEO Dorsey announced on Monday that 37-year old Agrawal, an Indian Institute of Technology, Bombay and Stanford University alumnus, will be the company's new chief executive as he stepped down after 16 years at the company that he co-founded and helmed. A report in The New York Times said Agrawal will receive an annual salary of $1 million, in addition to bonuses, restricted stock units and performance-based stock units.
'Devika is a people's person, who simply loves what she does. This reflects in her work; the insights she brings to the table and the way she interacts with people and clients. She has the demeanour of a good captain. Her success is well-deserved.'
Making it clear that relaxations will not be provided to US-based electric vehicles major Tesla unless it participates in manufacturing activities in India, Union Minister Krishan Pal Gurjar on Tuesday said there cannot be a situation where the market is India but jobs are created in China. The minister of state for heavy industries also told the Lok Sabha during Question Hour that the company is yet to apply for schemes as per the government's policy. Last year, the Elon Musk-led company sought a reduction in import duties on electric vehicles (EVs) in India but the Ministry of Heavy Industries asked the firm to start manufacturing its iconic EVs in the country before any tax concessions can be considered.
Facebook had collected certificates from both the firms in 2016-17 that data collected by them using "thisisyourdigitallife" was accounted for and destroyed.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
By 2022, there is a plan to make an mRNA-technology vaccine, for which it has tied up with Canadian firm Providence Therapeutics.
Bhattacharya is now more optimistic than before regarding the adoption of newer technologies, even though she acknowledges there could be short-term challenges owing to the pandemic. Salesforce is among the first global employers to take the 'no lay-off' pledge, pertaining to COVID-19.
TikTok has stressed that its US user data is already stored on US-based servers and backed up in Singapore, and is therefore not subject to Chinese law as some US officials have feared.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
The panel headed by former Special IT Secretary M Madhavan Nambiar and former health secretary Rajeev Sadanandan, will also ascertain whether adequate procedures were followed while finalising the arrangements with the private company, Sprinklr. The Opposition Congress has been levelling charges that the collection of data by the US firm violated the fundamental rights of the patients.
Starting today, November 8, the US has lifted all restrictions for fully vaccinated international travellers, including from India, but they will have to show proof of a negative coronavirus test before boarding a flight to the country.
Microblogging site Twitter's explanations to a parliamentary panel on showing Ladakh as part of China are inadequate and the act amounts to criminal offence attracting imprisonment of seven years, committee chairman Meenakshi Lekhi said on Wednesday.
"I am very happy and proud of his achievements. I am yet to speak to him. I think he must be sleeping as it's still night in the United States," she said.
The US is the largest consumer of gems and jewellery in the world contributing nearly 40 per cent of global production. If India can tap the opportunity, its overall exports to the US could jump by 10 per cent to $ 11 billion this year.
Technology giant Microsoft is in talks with TikTok's parent company ByteDance to buy its US operation.
The teams were from Gennova Biopharmaceuticals Ltd Pune, Biological E Ltd Hyderabad and Dr Reddys Laboratories Ltd Hyderabad.
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
Rawat said India was looking forward to procuring Kamov helicopters and other weapon systems and technology from Russia.
IT major Wipro Technologies and Gurgaon-based knowledge process outsourcing firm Copal Partners have expressed interest in bidding for the Indian back office business of Lehman Brothers Holdings, the US-based investment banking firm that filed for bankruptcy protection on Monday.
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