Author: TI Editor

“Our first strategy is to bring innovative medicine faster into the country, which otherwise [patients] would go to other parts of the developed world to buy,” Sanjeev Panchal, managing director of AstraZeneca India, told Mint in an interview. The company reported a robust set of numbers for the December quarter of FY25, with its profit nearly doubling year-on-year to ₹30.8 crore and its Ebitda (earnings before interest, taxes, depreciation, and amortization) margin expanding sharply from 4.9% to 17.5%. Its revenues grew 44% to ₹440.3 crore. The company’s quarterly performance was boosted by increased product sales, especially in its oncology portfolio,…

Companies News Today Live Updates: Stay ahead of the curve with the latest insights from the corporate world through our company news coverage. This section provides a detailed look at significant events affecting industries and markets globally, including mergers, acquisitions, financial reports, and strategic shifts in leadership and operations. Whether you’re an investor, a business professional, or simply interested in the dynamics of various industries, our reports offer a deep dive into the developments that shape the economic landscape. From startups to established giants, we bring you the news that matters to help you make informed decisions in a rapidly…

Salesforce Inc. is ending diversity goals in hiring after President Donald Trump signed a series of executive orders aimed at eliminating such programs across the federal government and the private sector. In its annual financial disclosures filed Wednesday, San Francisco-based Salesforce also removed previous references to diversity and inclusion being a “core value,” as well as language that some executive compensation was tied to “employee diversity measures.” “While we are not specifying representation goals, we remain committed to our core value of equality,” a Salesforce spokesperson said when asked about the company’s hiring process. During his first day in office,…

The property market in the National Capital Region (NCR) has witnessed a clean-up and turnaround in recent times. Now, a new crisis seems to have hit the market, with allegations of cheating and defrauding of homebuyers doing the rounds. Mint explains: What is the latest controversy?Last week, the Enforcement Directorate (ED) raided the NCR premises of two developers—the WTC Group and Bhutani Infra—and their promoters. First information reports filed by the Economic Offences Wing alleged cheating, criminal breach of trust and defrauding of hundreds of homebuyers. Documents worth over ₹3,500 crore, collected from investors against projects in NCR, were found.…

“The departures started a month ago, and they are not ending anytime soon,” said one of the people quoted above. The layoffs will continue till June, the people said. The job cuts are primarily affecting corporate roles in distribution, finance, commercial, and legal departments, nearly a dozen people who spoke with Mint confirmed, speaking on the condition of anonymity. They said the layoffs include entry-level employees, senior managers, senior directors and even those at the assistant vice-president level. “So far, sports has remained untouched because the Champions Trophy, Women’s Premier League (WPL), and Indian Premier League (IPL) are scheduled back-to-back,”…

PowerChina unit claims $555 mln in unpaid dues EdL has yet to respond to the filing Case relates to Laos’ Nam Ou hydropower project March 5 – Nam Ou Power, a unit of state-owned Power Construction Corp of China, has sued Laos utility Electricite du Laos in Singapore for $555 million in unpaid dues from a hydropower project it operates, an arbitration filing reviewed by Reuters shows. EdL has yet to respond to the filing, according to a source familiar with the case, who also said that it was the first instance of international arbitration by a Chinese state-run entity…

(Bloomberg) — Marvell Technology Inc. declined in late trading after delivering a revenue forecast that fell short of the highest estimates, disappointing investors who were looking for a bigger payoff from the AI boom. Sales will be about $1.88 billion in the fiscal first quarter, which runs through April, the chipmaker said in a statement Wednesday. Though that was in line with the average analyst estimate, some projections ranged as high as $2 billion.  Marvell shares fell 16% in late trading after the report was released. They had been down 18% this year through the close. Marvell has been seen…

(Bloomberg) — The asset management arm of Japan’s largest insurer will expand its team managing private equity and other alternative investments, betting on more strong growth in the market. Nissay Asset Management Corp. plans to hire five to seven people to oversee assets such as private equity and infrastructure finance, said Kaoru Onishi, head of the global product division. It has about 30 employees now in its alternative investment business. “It is an expanding field. We need more people,” said Onishi, whose firm manages more than ¥2.5 trillion ($17 billion) of clients’ funds parked in alternative assets. “But there are…

South Korean finance tycoon Cho Jung-ho is edging closer to ending Samsung Electronics Co. Executive Chairman Jay Y. Lee’s two-and-a-half-year reign as the nation’s richest person. Meritz Financial Group Chairman Cho is now in second spot with a net worth of $8.5 billion, thanks to last year’s blistering 76% rally in the company’s shares, according to the Bloomberg Billionaires Index.  Lee’s wealth has eroded after Samsung stock tumbled 32% last year and as the family faced billions of dollars in inheritance taxes. The 56-year-old Samsung heir is estimated to be worth $8.6 billion, a far cry from the $31.6 billion…

(Bloomberg) — City Brewing Co., which makes alcoholic drinks such as White Claw and Pabst Blue Ribbon, is talking to creditors about inking an out-of-court restructuring with lenders taking control of the company, according to people with knowledge of the matter.  Negotiations are ongoing and no final decision has been made, said the people, who asked not to be identified discussing a private matter. Discussions with creditors ramped up late last year, as City Brewing, whose investors include Charlesbank Capital Partners and Oaktree Capital Management, looked to shore up its cash reserves amid weakening demand, Bloomberg previously reported. A representative…