Mining mogul Anil Agarwal-led Vedanta Resources Ltd will likely have enough liquidity until December 2023, rating agency S&P Global Ratings said on Monday. The natural resources group has debt servicing…
Category: Companies
Adani JV in talks with dozen lenders for first dollar loan since Hindenburg: Report
Adani Group’s joint venture with data centre provider EdgeConneX is reportedly in talks with about half a dozen banks for a loan of $220 million. This would be the conglomerate’s…
Richard Branson’s Virgin Orbit files for bankruptcy after laying off 85% workforce
British billionaire Richard Branson’s satellite launch company Virgin Orbit has filed for bankruptcy after it failed to secure long-term funding required to recover from a rocket launch failure in January.…
Vedanta’s Ajay Goel likely to join Byju’s as CFO: Report
Former Vedanta deputy CFO Ajay Goel is likely to join edtech startup Byju’s as its chief financial officer, Economic Times reported on Monday. Goel worked for more than two years…
Zoho CEO Sridhar Vembu, others compare AI to nuclear weapons, cloning
Sridhar Vembu, the CEO and co-founder of Zoho, compared the progress in artificial intelligence to nuclear weapons, cloning, etc, and has called for “no further” development in the field until…
Cyient reorganizes executive leadership before quarterly results
Cyient, an Indian IT and tech company, announced a change in executive leadership on Monday. In a release, the company announced that the board of directors appointed Krishna Bodanapu as…
Tech layoffs: IBM spinoff Kyndryl eliminates marketing, admin, HR roles in India
IBM spinoff Kyndryl is the latest tech company to cut jobs in India. Sources told Business Today that the company will be paying 2-month pay in severance to laid-off employees.…
Swiggy CTO Dale Vaz resigns; Madhusudhan Rao to replace him: Report
Dale Vaz, the chief technology officer of Swiggy, has reportedly resigned from the company after about five years. Madhusudhan Rao, who has been with the company for over four years,…
‘Nobody shed tears for those…’: Aswath Damodaran points to misplaced sympathy for new-age tech firms
Valuation guru Aswath Damodaran told Business Today recently that he’s of that opinion that “young companies” shouldn’t be getting bank debt and that no one should “shed tears” for companies…
Infosys founder Narayana Murthy explains why he is a capitalist
NR Narayana Murthy, founder of IT services company Infosys, spoke about his inclination towards capitalism while speaking at the Indian Institute of Management Ahmedabad (IIMA) over the weekend. Murthy recalled…