Companies

FILE PHOTO: Mark Hurd, CEO of Oracle Corporation (REUTERS)
FILE PHOTO: Mark Hurd, CEO of Oracle Corporation (REUTERS)

Oracle co-CEO Mark Hurd passes away

  • The company announced last month that Hurd was going on medical leave, without providing any details
  • Mark Hurd, 62, was one of Oracle's two CEOs, the other being Safra Catz

Sriharsha Majety, chief executive officer of Swiggy (Photo: Bloomberg)
Sriharsha Majety, chief executive officer of Swiggy (Photo: Bloomberg)

Swiggy eyes 100 mn customers using the app over 15 times a month in 10-15 years

  • 'If some of our growth estimates come true, it won’t take long before we will be the third-largest source of employment in India,' says CEO Sriharsha Majety
  • Currently, Swiggy clocks nearly 1.4 million food orders daily across India, compared with about 700,000 orders per day a year ago

The results reflect the benefits of the rapid scale-up of RIL’s consumer businesses, said chairman Mukesh Ambani (Photo: Pradeep Gaur/Mint)
Former promoters of Ranbaxy, Malvinder Mohan Singh and his brother Shivinder Mohan Singh with three others arrested by Economic Offences Wing (EOW) of the Delhi Police, for allegedly misappropriating funds of Religare Finvest Limited (RFL).  (ANI )
Former promoters of Ranbaxy, Malvinder Mohan Singh and his brother Shivinder Mohan Singh with three others arrested by Economic Offences Wing (EOW) of the Delhi Police, for allegedly misappropriating funds of Religare Finvest Limited (RFL). (ANI )

Here's how the Singh brothers stripped Religare bare of 3,000 crore

  • The FIR against the duo along with erstwhile CEO Sunil Godhwani provides details of the modus operandi
  • Internal inquiries showed that the poor financial condition of Religare Finvest was, to a large extent, on account of wilful defaults

Publicis Groupe’s newly appointed chief operating officer and Publicis Media CEO Steve King.
(Photo; Bloomberg)
The ED and Mumbai Police case is against former bank management and promoters of the HDIL (Mint)
The ED and Mumbai Police case is against former bank management and promoters of the HDIL (Mint)

PMC Bank scam: HDIL's Wadhawans get ED custody till 22 October

  • The duo had been arrested by the Economic Offences Wing (EOW) of Mumbai Police in connection with the case earlier this month
  • ED took custody of Wadhwans and brought them to the ED office for questioning

Governor Shaktikanta Das on the other hand acknowledged the fiscal prudence of the government. Photo: Ramesh Pathania/Mint
Governor Shaktikanta Das on the other hand acknowledged the fiscal prudence of the government. Photo: Ramesh Pathania/Mint

MPC debates if monetary easing is enough to revive the economy

  • A section of MPC felt that further fiscal measures by government were warranted to deliver the desired results
  • RBI governor Shaktikanta Das emphasized the need for fiscal prudence by the government amid concerns of widening deficit

Reliance Jio Fiber broadband plans start from  ₹699.  (REUTERS)
RIL Chairman Mukesh Ambani (Photo: AP)
A Chinese flag flutters in front of a residential building under construction in Huaian, Jiangsu province (Reuters)
A Chinese flag flutters in front of a residential building under construction in Huaian, Jiangsu province (Reuters)

China's GDP growth slows to 6% in Q3, slowest since 1992

  • The GDP figures emerged just one week after the US and China reached a tentative trade truce to avoid more damages to the world's two largest economies
  • The slowdown comes despite government efforts to support the economy, including measures such as tax cuts

Radhakishan S. Damani
Nikhil Gandhi
U.S. President Donald Trump. Photographer: Dylan Hollingsworth/Bloomberg
Wholesale dispatches of passenger vehicles slumped 23.7% year-on-year to 223,317 units in September (Ramesh Pathania/Mint file)
Wholesale dispatches of passenger vehicles slumped 23.7% year-on-year to 223,317 units in September (Ramesh Pathania/Mint file)

Retail sales of passenger vehicles plunges 20% in September: FADA

  • Sales of vehicles also remained in the red due to the Shraddh period, considered inauspicious for big purchases
  • Also, manufacturers did not push much inventory to the dealers expecting sales to remain tepid during the month

Netflix plans around 62 new original productions during October to December
AirAsia India is a joint venture between Tata Sons Limited and AirAsia Investment Limited. (Reuters)
L&T Infrastructure Development Projects had a turnover of Rs257.31 crore and a networth of Rs2,503.58 crore as on March 31, 2019 (Reuters file)
L&T Infrastructure Development Projects had a turnover of Rs257.31 crore and a networth of Rs2,503.58 crore as on March 31, 2019 (Reuters file)

L&T to buy out partner in L&T IDPL, make it fully-owned arm

  • The engineering giant will buy out the 2.5% shareholding of the long-time investor in L&T IDPL for Rs47.99 crore
  • L&T said it was buying out its partner as a gesture of goodwill towards a longtime investor

Snapdeal has already shipped out 97% of the Diwali sale orders. (Photo: Bloomberg)
Snapdeal has already shipped out 97% of the Diwali sale orders. (Photo: Bloomberg)

Snapdeal sees 90% of Diwali sales from non-metros

  • For Snapdeal, the strong performance continues, with orders consistently at more than 1.5 times that of last Diwali
  • The first time users surged across cities like Nashik, Surat, Chandigarh, Panaji and Guwahati

DHFL bought out Andromeda from its finserv holding firm, Casa Capital, in 2016.
DHFL bought out Andromeda from its finserv holding firm, Casa Capital, in 2016.

After Edelweiss AMC, Kotak, Axis MFs too move HC against DHFL

  • Bombay High Court has granted four weeks time for the parties to file replies
  • The court also allowed Edelweiss AMC's prayer to disclose all assets and liabilities of the non-bank lender