Japan’s Denso, a major auto parts supplier to Toyota, posted a 50 per cent rise in fourth-quarter operating profit on Tuesday, as higher production volumes helped offset an increase in…
Category: Companies
FDA proposes to withdraw Amgen’s drug for rare autoimmune diseases over effectiveness
The US Food and Drug Administration’s Center for Drug Evaluation and Research (CDER) has proposed withdrawing approval of Amgen’s drug for rare autoimmune diseases, citing a lack of proven effectiveness…
Salesforce hiring: CEO Marc Benioff says he will hire 1,000 graduates as AI-led layoffs hit Big Tech
CEO Marc Benioff recently posted on social media platform X that his firm will be hiring 1,000 new graduates and interns “to ride the AI exponential.” His post comes at…
Meta preparing to unwind $2.5 billion Manus acquisition, let co-founders go after China ban: Report
Meta is planning to unwind its acquisition of AI startup Manus after the Chinese government banned the transaction on Monday on national security grounds, according to a new report by…
Bank CEO used his voice clone to run earnings call before announcing OpenAI partnership to build a ‘digital workforce’
During a first-quarter earnings call recently, Customers Bank CEO Sam Sidhu pulled off an unusual stunt. Nearly thirty minutes into the briefing, he revealed to analysts that his prepared remarks…
Sun Pharma-Organon deal: Outlook is mixed
Sun Pharma’s agreement to acquire all outstanding shares of NYSE-listed Organon & Co for $14 per share in a cash deal, implies an enterprise value of $11.75 billion for Organon.…
Beauty brand WishCare in early talks to sell majority stake at ₹3,000 crore valuation
Kolkata-based WishCare, known for its range of serums, sunscreens, and hair growth products, is exploring a majority stake sale that will value the brand at about ₹3,000-3,500 crore, three people…
Why Sun Pharma’s massive Organon buyout is winning over investors where Lupin, Biocon failed
Sun Pharmaceutical Industries Ltd’s acquisition of Organon might yet avoid the pitfalls that its rivals, Lupin Ltd and Biocon Ltd, have faced in the past. Billed as among the largest…
Snabbit raises $56 million in Series D; valuation doubles to $360 million
Quick home services startup Snabbit has raised $56 million as part of its Series D round, co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ (MAVI), Unicorn Growth Fund, and…
Indian IT increases vigil on deal conversations even as AI eats revenue
In a shift from the ‘growth at any cost’ era, IT services industry leaders like Infosys Ltd, HCL Technologies Ltd, and Tech Mahindra Ltd are increasingly avoiding low-margin contracts, preferring…