In the formative years of Facebook, few would have predicted the monumental role that Aditya Agarwal would play in shaping the company’s technological landscape. Joining Facebook in 2005 as a relatively unknown engineer, Agarwal was quickly thrust into a high-stakes challenge by none other than Mark Zuckerberg, the company’s visionary founder. As recounted by Agarwal, this challenge would…
In a recent ruling, the Delaware Bankruptcy Court has denied a plea from Glas Trust Company, representing US lenders, to block Byju’s settlement with the Board of Control for Cricket in India (BCCI). The settlement concerns a Rs 158-crore overdue payment related to a sponsorship deal.
Court Ruling
Judge Brendan Shannon of the Delaware Bankruptcy Court decided not to interfere in the legal…
In a recent exchange filing, IT firm Coforge revealed that it has received a second supplementary notice from a North American client, demanding indemnification for an amount potentially exceeding $11 million. The notice pertains to claims related to an alleged data breach involving the company.
Details of the Claim
According to the filing, the client has sought indemnity for two main components.
In a surprising turn of events, the chief executives of Indian midcap IT firms Coforge and Persistent Systems have earned more than their counterparts at industry giants TCS and Infosys in the past financial year. This trend highlights a growing willingness among midcap IT companies to offer competitive compensation packages to their top executives as they navigate through a challenging business…
In an exclusive interview with ET’s Pranav Mukul and Samidha Sharma, Sahil Barua, CEO of Delhivery, sheds light on the evolving dynamics of the logistics industry and the challenges facing quick commerce. Barua discusses how the rapid growth of quick commerce is reshaping market shares, particularly impacting traditional kiranas rather than traditional e-commerce platforms.
Barua highlights that…
SMARTZero Inc. proudly unveils the latest enhancements to the STARZero platform, meticulously engineered to support UK entrepreneurs and gig economy in maximising tax benefits and significantly reducing their carbon emissions. This innovative update pioneers the seamless integration of fiscal incentives with environmental responsibility, marking a significant advancement in sustainable business…
E.l.f. Beauty has reported an impressive 50% increase in sales for the fiscal first quarter, driven by the success of its new Bronzing Drops serum and robust performance across various product categories. The company’s revenue surged to $324.5 million, surpassing Wall Street’s expectations and prompting it to raise its full-year sales guidance. Despite this, E.l.f.’s shares fell by about 6%…
Equity Residential has announced a significant acquisition, agreeing to purchase 11 apartment properties from Blackstone’s real estate unit for approximately $964 million. This transaction, marking the largest apartment purchase by a public REIT in seven years, includes complexes located in Atlanta, Dallas/Fort Worth, and Denver. The 3,572 units are poised to enhance Equity Residential’s…
Shares of Zillow Group surged on Thursday following the company’s announcement of a new CEO and its better-than-expected second-quarter financial results. The real estate services firm revealed a narrower loss of $0.07 per share, significantly less than the previous year and well below analysts’ forecasts. Revenue for the quarter increased by 13% to $572 million, surpassing…
Biocon, a leading biotechnology firm, announced a dramatic increase in its consolidated profit after tax for the first quarter ending June 2024. The company’s profit surged more than six times to ₹660 crore, driven by a significant one-time gain resulting from its collaboration with Eris Lifesciences through Biocon Biologics.
The substantial profit growth highlights the impact of strategic…
