The insurance giant American International Group has replaced Goldman as its main corporate adviser with Citigroup and Bank of America, says a media report.
I can't believe CK is no more. He was always such an imposing presence that he seemed invincible and larger than life. To hear that an unknown virus snatched him prematurely away from us seems like another of life's cruel jokes. I am sure CK's best was yet to come.
Apple Inc has sold over 3,00,000 iPads in the United States on its first day of sale and the IT giant's CEO Steve Jobs termed the new product as a 'game changer'.
"I would say there was a good response from the people (we met today), and something substantial can come out of it. But I cannot give you the names or details of our meeting," Deora, when asked to give a sense of the meeting by rediff.com, said.
Internet search engine giant Google has teamed with Intel and Sony to develop Google TV, a platform for bringing the web into the living room via televisions and set-top boxes
BP Plc, the British energy company, has joined the race to acquire a majority stake in Canadian oil-sand major, Value Creation, with an offer of $1.2 billion. Though the offer is less than Reliance Industries' $2-billion acquisition proposal, given on February 5, agencies reported that BP might set up a joint venture with the Canadian group, and increase its oil-sand holdings by as much as 50 per cent.
The 2017 edition of the Guinness World Records reveals a selection of the most jaw-dropping records and record holders.
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
Mukesh Ambani-controlled Reliance Industries is expected to buy out a fifth of LyondellBasell's $27 billion gross debt and seek a rollover of the balance after acquisition, as a step towards gaining the confidence of creditors in its plans to acquire the world's third largest petrochemical company, sources familiar with the developments said.
Infosys Consulting Inc, the strategic consulting arm of IT services giant Infosys Technologies, is planning to acquire a small consulting company with revenues in the $100-140 million range (Rs 450-650 crore) as part of its inorganic growth initiatives in the US.Market sources said Infosys had been looking at a suitable acquisition target in the US with consulting expertise in verticals like aerospace, retail, healthcare and financial services.
Goldman Sachs has bounced back spectacularly from the financial crisis and so far this year it has earmarked $16.71 billion as compensation.
We revisit some iconic moments of the the much-loved television series as it celebrates its 20th anniversary.
If the mark of a master is the ability to make the difficult seem a doddle, then with one swish of his tennis racket on Sunday Roger Federer underlined, beyond any doubt, his status as master of the courts.
Attributing to people briefed on the company, The New York Times said, Intel is expected to reveal a sweeping management change on Monday. Among other changes, the chip maker would announce that Pat Gelsinger, the senior vice president in charge of Intel's enterprise group, is leaving the company after 30 years performing a variety of roles, the report said citing these people.
The bankruptcy filing of Lehman Brothers on September 15, 2008 brings back the most vivid memories of the crisis.
Mumbai born British sculptor Anish Kapoor's untitled work fetched a reported sum of over Rs 1 crore (Rs 10 million), one of the most expensive exhibit among those by 500 artists at the ongoing India Art Summit in New Delhi.
Only China and India can put pressure on the Myanmar junta which recently awarded punishment to pro-democratic leader Aung San Suu Kyi and an American John Yettaw, say experts.
Russell Peters and several other Indian Americans have mined quite successfully their ethnic background but 26-year-old Aziz Ansari, who has a small but significant role in the new Judd Apatow (Knocked UP) film Funny People, has taken a different route.
India-born PepsiCo chief Indra Nooyi has been the news recently for her trip to China, her remarks about the US Fed and her ability to handle the financial crisis.
The turmoil in the financial market is likely to spell good news for the Indian outsourcing companies, as the downturn will compel multinationals to seek further economies for sustenance in these tough times, Wipro Technologies founder Azim Premji has said.
Quoting a person familiar with the matter the daily said, General Motors would provide more than $2.5 billion of the $3.6 billion necessary for the private equity firm to gain control of Delphi. General Motors filed for bankruptcy protection on Monday.
The car maker, which filed for bankruptcy protection under Chapter 11 on Monday, owes $172.81 billion in total debts to its 50 largest creditors, including ArcelorMittal. In its filing with the bankruptcy court in the southern district of New York, GM said it has a 'trade debt' of $9.55 million to be paid to NRI-billionaire Lakshmi Mittal-led ArcelorMittal. According to the filing, the auto maker has assets worth $82.29 billion.
Arvind Panagariya speaks about climate change, globalisation and India's economy.
After reporting low numbers in new business premium, life insurance companies are resorting to special initiatives to increase business from the rural segment, which they term as emerging markets.
'Four years after paying $2 billion to extricate itself from a partnership with Fiat, General Motors is seeking a stake in the Italian automaker in exchange for its Latin American and European operations,' The New York Times reported. It said GM is eager to cede control of its money-losing Opel unit in Germany. 'But Fiat has also expressed interest in GM's other European operations as well as its historically profitable Latin American business,' the report noted.
Micro-blogging service provider Twitter, reportedly being eyed by Internet giant Google for a possible buyout, is on a hiring spree and plans to increase its headcount by about 50 per cent.
IBM's exit leaves the field open for engineering giant Larsen & Toubro, which owns 12 per cent in Satyam, Tech Mahindra, Cognizant Technology and private equity firm Wilbur L Ross. Satyam currently faces 13 class action suits by holders of the company's ADRs in the US. An investment banker close to the deal said IBM was a big name and could, therefore, be vulnerable to more lawsuits.
Technology giant IBM is close to a deal to buy Sun Microsystems for about $7 billion, says a media report.
Top executives of struggling insurance giant American International Group have agreed to return $50 million taken as bonus as the company faces sharp criticism from taxpayers and federal officials on these payments.
Congress party president Sonia Gandhi was on Wednesday ranked the sixth most powerful woman in the world, ahead of US First Lady Michelle Obama, by Forbes magazine in its list of 100 influential women, which was topped by German Chancellor Angela Merkel.
Billionaire money manager George Soros reported a nearly 2 percent stake in Manchester United Plc on Monday, in one of the first revelations of investors in the British soccer club's controversial initial public offering earlier this month.
Global IT giant IBM is understood to be the front-runner to acquire Satyam Computer Solutions, a company it named as one of its main competitors in a filing to the New York Stock Exchange in February. The US major, said sources close to the developments, has begun discussions with Satyam's government-nominated board and expressed its desire to acquire a majority stake in the company. A team of investment bankers and lawyers from the US and Europe has been brought in.
Software giant Microsoft has abandoned its three-month old bid to buy Yahoo after the two failed to agree on acceptable price and it concluded a hostile bid was "not sensible." Microsoft had earlier offered $47.5 billion which translated into $33 per share but Yahoo wanted $57 billion or $37 a share. Originally, the software giant had offered $44.6 billion or $31 a share but raised the offer as the negotiations progressed.
An influential Democrat senator has asked the government to stop Vikram Pandit-led Citigroup from buying a new corporate jet for $50 million, as the bank is dependant on American taxpayers' money and the plane is also being bought from a foreign firm.
Reflecting the immense respect he has for his idol Abraham Lincoln, Barack Obama will replicate on his special luncheon menu the food served to the civil war-era US president after his inauguration in 1861. Soon after being sworn in as the 44th president of the United States, Obama would have his first lunch hosted by the joint congressional committee on inaugural ceremonies at the historic Statuary Hall at the US capitol.
The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise.
Financial services provider Citigroup is under pressure from federal banking regulators for shuffling its board, including the replacement of its chairman, amid concerns whether chief executive Vikram Pandit will retain his job, a media report says.
Another media report stated that the controversial change, known as cramdown, would let courts wipe out some mortgage debts. The report said that the Mortgage Bankers Association was evaluating Citigroup's announcement, but added its opposition to the cramdown legislation had not softened.
Global financial services giant Citigroup Inc on Tuesday sold its 100 per cent subsidiary Citi Technology Services Ltd to Wipro for $127 million. CTS is an India-based captive provider of information technology services and solutions to Citi entities worldwide.
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