Business
Investors worried over downturn in $ 20 tn US commercial real estate market
London, April 10 Investors and regulators on high alert for signs of trouble in the financial system following recent bank failures, are now homing in on the downturn in the $20 trillion US commercial real estate market, CNN reported. Just as lenders to the sector grapple with turmoil triggered by ...India surpasses Rs 85,000 cr worth mobile phone exports in FY23
New Delhi, April 8 The government's push towards local manufacturing of consumer electronics items has helped India cross record more than Rs 85,000 crore in mobile exports in the fiscal year ending March 31, industry data showed on Saturday. Buoyed by attractive government incentives towards local manufacturing, India surpassed a ...Johnson & Johnson willing to pay $9bn to settle talc claims: Report
London, April 5 US pharmaceutical giant Johnson & Johnson has proposed to pay almost $9 billion to resolve tens of thousands of lawsuits the company faces in North America over claims that its baby powder and other talc-based products cause cancer, the media reported. The healthcare giant said it still ...Downfall of SVB, Credit Suisse undermined confidence: JP Morgan CEO
London, April 5 The financial turmoil that led to the downfall of Silicon Valley Bank (SVB) in the US and Credit Suisse in Europe is not yet over and its effects will be felt for years, warns JP Morgan CEO Jamie Dimon. In an annual letter to JP Morgan's shareholders, ...Indian-origin Intel GPU chief Raja Koduri quits to form generative AI startup
New Delhi, March 22 Indian-American Raja Koduri, head of Intel's Accelerated Computing Systems and Graphics Group, has quit the chip-making major to form his own generative artificial intelligence (AI) startup. In a tweet, Koduri said he will embark on a new chapter in life. Intel hired him from AMD in ...India to cross $10 bn worth of mobile exports in FY22-23, Apple leads at 50%
New Delhi, March 22 Buoyed by attractive government incentives towards local manufacturing, India is all set to reach a remarkable $10 billion (over Rs 82,000 crore) worth of smartphone exports in the fiscal year ending March 31, industry data showed on Wednesday. According to the India Cellular and Electronics Association ...Fears of heavy job losses growing after UBS takeover of Credit Suisse
London, March 21 As the dust settles following the emergency rescue of Credit Suisse by UBS, fears of heavy job losses are growing, media reports said. The shotgun wedding hammered out between the two Swiss banks last weekend will create a 120,000-strong financial institution - and it already seems inevitable ...US bank First Republic’s shares crash by more than 46%
San Francisco, March 21 Shares in the troubled First Republic Bank crashed more than 46 per cent after reports the San Francisco-based bank may need to raise more funds despite a $ 30 billion rescue last week. As the growing banking crisis spread into a new week, the credit rating ...First Citizens considering to buy collapsed SVB: Report
San Francisco, March 19 As Wall Street giants move to end the spiralling banking crisis in the US, First Citizens BancShares Inc is reportedly considering making an offer to acquire the collapsed Silicon Valley Bank. According to Bloomberg News, citing sources, at least one other suitor is making serious consideration ...Wipro lays off 120 employees in the US due to ‘realignment of business needs
San Francisco, March 18 IT major Wipro has laid off at least 120 employees in the state of Florida, the US, due to a "realignment of business needs". The company detailed the layoffs in a Worker Adjustment and Retraining Notification (WARN) notice filed with the Florida Department of Economic Opportunity, ...
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