Latest business news
(Bloomberg) — Funds including Silver Point Capital and Elliott Management are working on a rescue plan for British utility Thames Water that would total more than £10 billion ($13.5 billion), according to people familiar with the matter. The proposal, the main terms of which are similar to the one presented by US alternative investor KKR…
(Bloomberg) — Some 2.5 million people visit the Pyramids of Giza each year with hopes of an epic experience befitting one of the World’s Seven Wonders. But for decades, a trip to Egypt’s most famous tourist spot meant battling crowds and parrying aggressive hawkers. Now, thanks to a $30 million revamp that rethinks the experience,…
OPEC members are discussing making a third consecutive oil production surge in July, to be decided at the group’s meeting in just over a week, delegates said. An output hike of 411,000 barrels a day for July — triple the amount initially planned — is among options under discussion, although no final agreement has yet…
Stock Market Today: JSW Steel share price crashed over 7% on Friday as news reports suggested that Supreme Court has scrapped resolution plan for Bhushan Steel and Power
(Bloomberg) — South African National Parks has blocked a bid by a company controlled by billionaire Patrice Motsepe to tap South Africa’s second-biggest phosphate deposit in one of the nation’s most important wetlands. Kropz Plc, which is 90% held by Motsepe’s African Rainbow Capital Investments Ltd., applied last month to extract the raw material used…
In a 21 April consultation paper, the Securities and Exchange Board of India (Sebi) proposed overhauling how securities market disputes are resolved, promising faster timelines, stricter accountability, and direct arbitration. Sebi has proposed to extend the ODR portal, which previously applied to market infrastructure institutions (MIIs) such as stock exchanges and clearing corporations, to depositories….
Paytm said on Wednesday founder and CEO Vijay Shekhar Sharma has foregone all 21 million employee stock options granted to him, months after the country’s markets regulator issued show-cause notices over violation of rules on grant of share-based employee benefits. This would result in acceleration of ESOP expense of ₹492 Cr In Q4FY25
The high-gloss ad, released in mid-2024, was Cleartrip’s big push to grab mindshare in a crowded travel booking market. Over the last couple of years, the company has been trying to make a comeback with such promotions. But while it took a good swing, a look at the company’s FY24 financials, released a few months…