OPEN APP
Home > Companies

Companies

DHFL’s resolution is critical since it will set a precedent for future insolvency cases in the lending sector
A Lava mobile factory in Noida. Not long ago, Lava International was the poster boy of the government’s Make in India drive. Photo: Pradeep Gaur/Mint
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint

Embassy Reit raises nearly 2,600 cr via debentures

We will use the funds raised to refinance a portion of the in-place Embassy TechVillage debt, Mike Holland, CEO of Embassy Reit said

The company had posted a net profit of  ₹591 crore in the for the corresponding quarter of 2019-20
(Photo: Mint)
(Photo: Mint)

DHFL resolution: Lenders back Piramal's bid

  • Piramal Enterprises' bid received 94% votes as compared to 45% for the US-based Oaktree Capital
  • According to sources, suitors have submitted bids in the range of 35,000-37,000 cr

L&T Finance Holdings is an arm of engineering firm Larsen & Toubro
File Photo: Standard Chartered Plc (REUTERS)
File Photo: Standard Chartered Plc (REUTERS)

Standard Chartered preparing hundreds more job cuts 

  • The London-headquartered bank is expected to focused on job reductions of more junior employees, according to people familiar with the matter
  • The latest job cuts come as Standard Chartered prepares for the eventual departure of Chief Executive Officer Bill Winters

(Photo: Mint)
Citi had earlier this week reshuffled the leadership in its US consumer bank and combined its wealth management units (REUTERS)
Citi had earlier this week reshuffled the leadership in its US consumer bank and combined its wealth management units (REUTERS)

Citigroup profit beats, but shares dip on higher costs, weak revenue

  • Shares in the bank, which have been trading at a 10-month high, fell 1.6% in premarket trading
  • Citi's revenue fell 10%, mainly due to a decline in its global consumer banking business

Wells Fargo released $763 million of loan-loss reserves for the three months through Dec. 31 (REUTERS)
Wells Fargo released $763 million of loan-loss reserves for the three months through Dec. 31 (REUTERS)

Wells Fargo’s $1.1 billion in charges slows cost cutting

  • Non-interest expenses fell 5.2% to $14.8 billion, roughly half the decline analysts predicted
  • The lender remains under a Federal Reserve-imposed asset cap limiting it from expanding its balance sheet beyond $1.95 trillion, its end-of-2017 level

SAP has spent years attempting to move away from legacy software that resides in clients’ computer servers (REUTERS)
SAP has spent years attempting to move away from legacy software that resides in clients’ computer servers (REUTERS)

SAP says Covid may continue to squeeze sales this year

  • The corporate software maker said 2021 cloud and software revenue, excluding some items, will be as much as 23.8 billion euros in constant currency
  • SAP said it expects limited growth and margin improvement over the next two years, and moved expectations to meet its 2023 strategy plan out to 2025

Photo: Reuters
Photo: Reuters

JP Morgan profit jumps on trading, investment banking strength

  • Net income rose to $12.1 billion, or $3.79 per share, in the quarter ended Dec. 31, from $8.5 billion, or $2.57 per share, a year earlier
  • JPMorgan's profit was boosted by lower loss provisions, while revenue from capital markets and investment banking also propped up its numbers

FCA ICT India will be built from the ground up to meet FCA’s specific needs and growth agenda in the region (REUTERS)
At the end of December 2020 quarter, HCL Technologies had 159,682 employees with net addition of 6,597 people
At the end of December 2020 quarter, HCL Technologies had 159,682 employees with net addition of 6,597 people

HCL Tech plans to add 5,000 freshers in March quarter

The company posted a 31% rise in its December quarter net profit at 3,982 crore on the back of strong momentum in its digital, products and platform segments

The UK government and Mittal's Bharti Global had invested $500 million each to acquire OneWeb under a bankruptcy resolution process. (File Photo: Mint)
(Photo: Bloomberg)
FILE - In this Sunday, Sept. 27, 2020, file photo, attendees wearing masks to protect from the coronavirus look at cars at the Tesla booth during the Auto China 2020 show in Beijing. Tesla Inc. is balking at recalling about 159,000 vehicles with potentially defective touch screens, so U.S. safety regulators are moving to force the company to take action, in news announced Wednesday, Jan. 13, 2021. (AP Photo/Ng Han Guan, File) (AP)
FILE - In this Sunday, Sept. 27, 2020, file photo, attendees wearing masks to protect from the coronavirus look at cars at the Tesla booth during the Auto China 2020 show in Beijing. Tesla Inc. is balking at recalling about 159,000 vehicles with potentially defective touch screens, so U.S. safety regulators are moving to force the company to take action, in news announced Wednesday, Jan. 13, 2021. (AP Photo/Ng Han Guan, File) (AP)

Tesla shares worth $1,250 in top scenario, Wedbush says

Tesla's stock could touch $1,250 in a bull-case scenario as consumer demand for greener cars surges in China, Wedbush analyst Dan Ives wrote in a Jan 14 note.

Individuals without smartphones would receive paper printed with QR codes containing the credentials, the companies said. (AFP)
Xiaomi CEO Lei Jun (Photo: Mint)
Airtel Xstream Fiber plans will now start at just  ₹499 (MINT_PRINT)
×
Edit Profile
My Reads Redeem a Gift Card Logout