BUSINESS
Accenture pledges Rs 185 cr for Covid relief efforts in India
"Accenture stands in solidarity with India. We have made a fresh pledge of $25 million (Rs 185 crore) for pandemic relief efforts in addition to the ongoing investments in our people and communities," said Rekha M. Menon, Chairperson and Senior Managing Director, Accenture India, in a LinkedIn blog post.
Cybersecurity firm Acronis raises $250M at $2.5B valuation
Founded in Singapore in 2003 and incorporated in Switzerland in 2008, Acronis now has more than 1,600 employees in 33 locations in 18 countries. The company said in a statement that the funds will be utilised to further accelerate growth by expanding its unique portfolio of natively integrated cyber protection products.
Domestic air travel recovery delayed by 3 months: Ind-Ra
The first two months of 2021 witnessed a solid improvement in air travel, after a steep decline in EBITDAR losses in 3QFY21 as airline operations normalised, it said. However, late March and April have seen a sharp rise in active Covid cases all across India which has significantly impacted air travel and dented confidence in aviation recovery.
Microfinance industry to witness disruptions from Covid surge: ICRA
"Though some states have classified the microfinance industry as an essential activity, the cash flows of borrowers may be affected due to the restrictions or lockdowns, thereby affecting their repayment ability. Moreover, the risk of infections spreading faster in other regions and increased restrictions/lockdowns in more places persists, which would impact collections.
Zomato emerges most trusted brand during pandemic: Survey
As India grapples with the raging pandemic amid seismic shifts in consumer behaviour, a new survey on Tuesday said that Zomato has emerged as the most-trusted brand, followed by Amazon Prime Video and Amazon marketplace, in the country. Over the course of the pandemic year, consumers prioritised online food delivery, pharmacy, entertainment, digital payments and OTT, among others, according to market research firm CMR's ‘Alpha Brands 2021' listing.
SII to invest 240M pounds in UK to expand vaccine business
The Serum Institute of India (SII) will invest 240 million pounds in the UK to expand its vaccine business and create multiple jobs in the country. The investment is part of the 1 billion-pound India-UK Enhanced Trade Partnership that will create nearly 6,500 jobs in Britain. The investment by the Adar Poonawalla-run SII will also see opening of a new sales office in the UK.
Equity indices trim gains amid volatility
Around 10.10 a.m., Sensex was trading at 48,791.31, higher by 72.79 points or 0.15 per cent from its previous close of 48,718.52. It opened at 48,881.63 and has so far touched an intra-day high of 48,996.53 and a low of 48,521.85 points. The Nifty50 on the National Stock Exchange was trading at 14,655.35, higher by 21.20 points or 0.14 per cent from its previous close.
SEBI relaxes compliance timelines for debenture trustees
The timeline for disclosures on websites including monitoring of asset cover certificate and quarterly compliance report of the listed entity, monitoring of utilisation certificate, the status of information regarding breach of covenants or terms of the issue, if any action taken by debenture trustee, has been extended till July 15.
High frequency indicators show economic activity 'softening': Crisil Research
"In India, the impact of state-announced restrictions are more clearly showing up across high-frequency indicators - they all trended down for the second consecutive week," it said. Retail mobility fell 8.2 percentage points (pp) on average in the week ending May 2, while workplace mobility slowed 7.1 pp.
Verizon Media sells Yahoo, AOL to Apollo Funds for $5B
Verizon will retain a 10 per cent stake in the company, which will be known as Yahoo at the close of the transaction and continue to be led by CEO Guru Gowrappan. Under the terms of the agreement, Verizon will receive $4.25 billion in cash, preferred interests of $750 million and retain a 10 per cent stake in Verizon Media. The transaction is expected to close in the second half of 2021, the company said in a statement.
Don't Miss
Advertisement