Page 2 - Us Companies

Byju's in talks to sell US unit Epic for $400 mn to ease financial pressure

Byju's and its creditors are locked in conflict over a missed interest payment on a term loan that the startup had taken out to help finance a global acquisition spree during the pandemic

US companies express interest to invest around Rs 25,000 cr in Karnataka

The Karnataka government on Thursday said several American companies have evinced interest to invest around Rs 25,000 crore in the state. Jointly addressing a press conference regarding the outcome of the visit by a business promotion delegation headed by them to the US, by Large and Medium Industries Minister M B Patil and Electronics & IT/BT Minister Priyank Kharge said some of the companies are already in the process of investing around USD one billion in the state. During the visit that spanned from the east coast to the west coast of the US, a total of 36 interactive meetings were held. "While some companies have planned to commence their operations here some others have proposed to expand their already existing operations. Our discussions primarily focussed on semiconductors, aerospace and defence, electric vehicles, space, and precision manufacturing," Patil said. Discussions were held with leading companies like Applied Materials, AMD, Juniper, Global Foundries, LAM ...

After quiet quitting & quiet firing, are companies now quiet cutting?

Quiet cutting is a move by companies where they remove positions but do not fire any employees

Honeywell launches new AGL manufacturing facility in India's Gurugram

AGL, a product engineered and manufactured completely in India, plays a crucial role in airport operations

US-based firm OnSolve launches new technology centre in Bengaluru

OnSolve is witnessing swift adoption of its threat mitigation solutions across vital industries such as healthcare, financial services, manufacturing, oil and gas, and government sectors

Amazon cracking down on US employees who stay away from the office

Despite the end of pandemic-era, many employees are reluctant to come back to the office full time

Mahindra Group to aid US companies to set up manufacturing base in India

The company further said that Mahindra Group offers self-sufficient industrial parks at strategic locations, and has the expertise to guide companies through the approval processes

US EV startup Fisker announces India debut with an SUV of 563 km range

Fisker is set to make its debut in India in September 2023. It will sell only 100 units initially, and the company will also set up a manufacturing unit in India in the upcoming years

Unicorn CFOs: US leans more on outside hires than India, has older set too

Study by WalkWater Talent Advisors also points to gender disparity, with women CFOs only leading 4% of Indian Unicorns, compared to 17% in US

Chinese police questions staff at Beijing office of Bain & Company: Report

This follows a similar raid at another US firm Mintz's Beijing office last month

US retailer Bed Bath & Beyond files for bankruptcy as turnaround fails

The company estimated it had assets of $4.4 billion and total debt of $5.2 billion as of late November, according to a court filing

Indian economy today is transparent, open: Sitharaman to US biz community

The Indian economy today is transparent, open and watchable, Union Finance Minister Nirmala Sitharaman told the American business community on Tuesday making a strong pitch before them to come and invest in India and be part of the country's amazing growth story. Addressing a luncheon meeting of the US-India Strategic and Partnership Forum, Sitharaman told representatives of the top US companies that these are results of the pathbreaking and futuristic reforms, including digitisation being undertaken by Prime Minister Narendra Modi in the last nine years. Digitisation has had an immense impact on the Indian economy, bringing transparency, Sitharaman said. Earlier, nearly 40 per cent of the Indian economy was grey. Today, the government has incentivised many of these transactions, if it is digital, you get concessions and then onboarded people onto the digital system. Now, the Indian economy is not small, (it is) transparent, open, watchable if you want to use that word. With all t

Binance's US partner confirms firm run by CEO Zhao operated on exchange

Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to the trading firm, Merit Peak Ltd

Twitter under Musk cuts more staff overseeing global content moderation

At least a dozen more cuts on Friday night affected workers in the company's Dublin and Singapore offices

Former FTX CEO Sam Bankman-Fried to fly to US today, escorted by FBI agents

Sam Bankman-Fried signed his surrender documents on Tuesday, he will sign a separate set of papers finalising his waiver of rights to fight extradition

Zippo targets 50% sales growth in 2023, expects strong double-digit growth

Iconic windproof lighter maker Zippo Manufacturing Company is targeting nearly 50 per cent growth in sales in India for 2023 and expects to continue strong double-digit growth over the next five years, said a company official. The company gets around 60-70 per cent of sales from e-commerce channels in India and is also expanding its presence in offline channels, where it expects faster growth in 2023, said Zippo Global Marketing Associate Vice President Lucas Johnson. The company has done successful tests with very big retail partners such as Reliance and has plans to roll out lighters at more retail stores as it senses a "huge opportunity" there, he added. The company, as per its retail strategy prioritises online sales with its own channel besides several key e-commerce channel partners such as TATA Cliq Luxury, Amazon and Flipkart. It is also present in high-end gift shops or places like Cafe Coffee Day, Beer Cafe etc. Based on our success in the Indian market this year, consume

Microsoft prepares to go to battle with FTC over Activision deal

The company has also said it expects the industry to get more competitive in the future with the rise of cloud gaming

Deloittee CEO to focus on India, climate crisis solutions after retirement

Top Indian-American business executive Punit Renjen, who recently announced his retirement as Deloitte Global CEO, has said that his future endeavours would include India in particular on nature-based solutions to the climate crisis. My future endeavours are going to involve India. I'm very passionate about India, and the journey that India is on. I firmly believe that this is India's century, Renjen told PTI in a recent interview. Renjen, 61, announced his retirement from Deloitte last month. As Deloitte Global CEO since 2015, Renjen developed and executed a global strategy that resulted in Deloitte revenue growing from USD35 billion to more than USD59 billion in just seven years. Noting that India took on the presidency of the G-20, he said this is a great opportunity for India now to lead the rest of the world. My focus in India will be around climate, particularly nature-based solutions to the climate crisis that we face around sustainability and skilling and education, ...

Zetwerk set for over $1-billion revenue in FY23 on China Plus One

Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers

Elon Musk's 'hardcore' management style: A case study in what not to do

Musk, the world's richest man, appears in a hurry to make Twitter into a money-spinner, but it takes time to understand the requirements for successful organisational change