Adani, TotalEnergies Joins Hands To Invest In Green Hydrogen
Adani New Industry Ltd (ANIL) teamed up with TotalEnergies to invest $50 billion in green hydrogen, the deal was announced on Tuesday. French giant TotalEngeries will buy a quarter of the equity in ANIL, part of Adani’s eponymous group. The company will invest a set amount for a period of over ten years. With this…
Yash Sharma
Chipmaker Broadcom In Talks To Acquire Cloud Company VMware
Chipmaker Broadcom is in talks to buy the cloud service provider VMware in a $61 billion cash-and-stock deal, according to the people familiar with the matter. If it is done, it would be the biggest and boldest bid that will diversify its business into enterprise software. This will be the second-biggest acquisition globally so far…
Abdullah Ansari
Revlon Is To File For Bankruptcy Amid Heavy Debt Load
New York-based Revlon, owned by billionaire Ron Perelman’s MacAndrews & Forbes, is preparing to file for Chapter 11 bankruptcy amid a heavy debt load, according to the people aware of this matter. However, the potential filing is not final yet and could change. Revlon’s shares plunged 53%, the biggest one-day drop on record, on Friday…
John David
Telcos And Tech Firms Are Clashing On 5G Private Networks
The clash between India’s leading telecoms and the forum of tech companies (Broadband India Forum) has stepped up on the issue of direct 5G spectrum allocation to corporations. Tech corporations have discarded a significant claim of telecom companies that the start of private 5G networks would swindle the precious enterprise service revenues and destroy the…
Shipra Prajapati
IMF Appoints Krishna Srinivasan As Director Of APD
Kristalina Georgieva, Managing Director, International Monetary Fund reported the appointment of Krishna Srinivasan as Director of the Asia and Pacific Department. Mr Srinivasan will take charge from June 22. As per an IMF statement, Mr Srinivasan will replace Changyong Rhee who is all set to retire and his retirement was announced on March 23. In…
RBI’s MPC Meeting Update – Repo Rate Hiked By 50 bps
The Reserve Bank Of India (RBI) has increased the repo rate by 50 basis points to 4.90%. The decision has been made after Monetary Policy Committee’s meeting on Wednesday. RBI’s decision is not a stunner as many polls and economists were expecting a 40 basis point hike. RBI has reduced the repo rate in March…
Zomato Board Likely To Sign Blinkit Deal Next Week
The board members of food tech giant Zomato will meet on June 17 to sign off the acquisition of the quick-commerce platform Blinkit (formally known as Grofers). Before this, in August 2021, Zomato invested around $100 million into Blinkit and revealed its plan to invest a total of $400 million. At that time, Zomato earned…
UBI Appoints A Manimekhalai As MD & CEO
A Manimekhalai has been appointed as the new managing director and chief executive officer (MD & CEO) of Union Bank of India for a period of three years, the government announced on June 2. Before this, Manimekhalai was executive director at Canara Bank. After Vijaya Bank was merged with the Bank of Baroda in 2019,…
Vipin Kumar
Central Should Allocate 5G Spectrum Directly To Private Firms, Says TCS
Tata Consultancy Services (TCS), India’s top information technology company, wants the government to allocate the 5G spectrum directly to private enterprises. “Private networks or enterpriser will enable organisations to accelerate their IoT (Internet of Things) and digitalisation agenda,” TCS’s chief operating officer, N Ganapathy Subramaniam said. “For this to happen in a secure manner and…
Dentsu International’s South Asia CHRO Rohit Suri Resigned
In the last eight days, three top-level executives quit Dentsu International India. The latest name to move on is the company’s South Asia chief human resource officer (CHRO) Rohit Suri, revealed by multiple sources. Rohit has not commented on this scenario yet. According to the sources close to this development, Suri is to join the…
