Hedge-fund billionaire William Ackman’s Pershing Square Tontine Holdings Ltd., confirmed Friday that it is in talks with French media conglomerate Vivendi SA to buy 10 percent stake in Universal Music Group B.V. or UMG for about $4 billion. The proposed deal represents an enterprise value of 35 billion euros for UMG. In Paris, Vivendi shares […]
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Reliance Industries shares maintain winning run for 7th day; M-cap crosses ₹ 14 lakh crore mark
Shares of Reliance Industries Ltd extended its rally for the seventh consecutive day on Thursday and its market valuation crossed the Rs 14 lakh crore mark. The market heavyweight stock has jumped 12.45 % in seven trading sessions. Following the upbeat sentiment, the company’s market valuation has reached ₹ 14,00,541.47 crore on Thursday at the […]
Reliance submits proposal for potential COVID drug
The drug regulator will now evaluate the proposal for public use. Reliance Industries Ltd’s R&D arm has proposed the use of Niclosamide – the drug used to treat tapeworm infestation – for treating COVID-19 patients. Niclosamide, a drug on the World Health Organisation’s list of essential medicines, has been used to treat tapeworm infestation for […]
Cloud can bring in new annual profits of $414 billion for enterprises: Infosys
A study found that the highest performing businesses had annual profits growth that correlated with using cloud in six different ways Effective cloud adoption can bring in net new annual profits to the tune of $414 billion for global enterprises, said an Infosys study. The study found that the highest performing businesses had annual profits […]
SBI Q4 profit jumps 80% to ₹6,451 crore as bad loans situation improves
The board has recommended a dividend of ₹4 per share or 400% on the face value for the financial year ended March 31, 2021 The country’s largest lender SBI on Friday reported an 80% surge in standalone net profit at ₹6.450.75 crore for the fourth quarter ended March 2021, aided by decline in bad loans. […]
Colonial Pipeline back online amid gas shortage following cyberattack
Biden admin’s delay in addressing Colonial Pipeline hack could be ‘damning’: Former Dallas Fed adviser Former Dallas Fed adviser Danielle DiMartino Booth and Kingsview Asset Management CIO Scott Martin on how the gas shortage and inflation are impacting the market. The Colonial Pipeline has returned to operations following a cyberattack that snarled gas supply for […]
Granholm says Colonial Pipeline expected to make 'full restart decision' Wednesday
Colonial Pipeline could impact gas prices: Schork The Schork Group principal Stephen Schork on the biggest factors impacting the oil industry today. Energy Secretary Jennifer Granholm said that Colonial Pipeline is expected to be able to make a decision to restart by end of day Wednesday. She also assured reporters that the pipeline shutdown had […]
Should I tell my boss I’m hunting for a new job? Ask HR
Johnny C. Taylor Jr., a human resources expert, is tackling your questions as part of a series for USA TODAY. Taylor is president and CEO of the Society for Human Resource Management, the world’s largest HR professional society. The questions are submitted by readers, and Taylor’s answers below have been edited for length and clarity. Have a […]
‘Retail auto sales slip 28% over March; May to see muted run’
April saw lockdowns across States, recovery to take longer this time: FADA With almost all the States resorting to either a partial or a full lockdown amid the second wave of the pandemic, total retail vehicle registrations declined 28% to about 11.85 lakh units in the last month compared with March, the Federation of Automobile […]
‘Indian offshore model will dominate IT scene for a decade’
Firms in India are ‘pandemic winners’; prices trend lower IT markets are picking up to such a degree that both the U.S. and Europe are running out of critical skills, and with this, offshore and Indian alternatives are increasingly becoming attractive for tech buyers, analysts said. In addition to the skills shortage, the pandemic-induced work-from-home […]