Restructuring
Suzlon to merge wholly-owned subsidiaries, spin off projects business
06 May 2024
The board of directors of wind power pioneer Suzlon Energy Ltd has approved a scheme of amalgamation under which the company will merge its wholly-owned subsidiaries, Suzlon Global Services and Suzlon Energy Ltd, Mauritius, with itself.
Godrej family announces formation of 2 groups
02 May 2024
The 127-year-old diversified Godrej Group on Wednesday announced a formal division into two separate groups – one controlled by brothers Adi Godjej and Nadir and the other by their cousins Jamshyd Godrej and Smita Godrej.
Warner Bros. Discovery CEO explores potential deal with Paramount Global
21 Dec 2023
In a strategic move within the entertainment industry, Warner Bros. Discovery CEO David Zaslav recently engaged in talks with Paramount Global CEO Bob Bakish.
JPMorgan Chase plans to outsource local custody business in Hong Kong and Taiwan
12 Dec 2023
JPMorgan Chase, the world’s third-largest global custodian, is set to outsource the operations of its local custody business in Hong Kong and Taiwan.
JPMorgan Chase plans to outsource local custody business in Hong Kong and Taiwan
12 Dec 2023
JPMorgan Chase, the world’s third-largest global custodian, is set to outsource the operations of its local custody business in Hong Kong and Taiwan.
Cognizant to sell office assets in Bengaluru, Hyderabad for operational optimization
12 Dec 2023
In a strategic move towards becoming asset-light, software services giant Cognizant Technologies is set to sell its office assets in Bengaluru and Hyderabad.
Citigroup CFO reveals $1 billion cost for massive restructuring
07 Dec 2023
Mark Mason, Chief Financial Officer of Citigroup, disclosed that the bank’s extensive restructuring is expected to incur charges of approximately $1 billion for restructuring and severance.
Citigroup CFO reveals $1 billion cost for massive restructuring
07 Dec 2023
Mark Mason, Chief Financial Officer of Citigroup, disclosed that the bank’s extensive restructuring is expected to incur charges of approximately $1 billion for restructuring and severance.
Alipay exits India: Chinese payment giant to sell Zomato stake for nearly $400 million
29 Nov 2023
Alipay, the Chinese payments group, is set to divest its 3.4% stake in the Indian food delivery powerhouse Zomato for an estimated sum of almost $400 million.
Tech giant Apple set to break ties with Goldman Sachs for credit card business
29 Nov 2023
Apple has decided to terminate its credit card partnership with banking giant Goldman Sachs. Apple had sent a proposal to the Wall Street Bank to end the contract in the next 12 to 15 months.
Glencore announces plans for construction of a battery recycling plant outside Italy
24 Nov 2023
In a strategic move, Glencore, the Swiss mining group, revealed its decision to construct a pilot project for an electric vehicle (EV) battery recycling plant outside of Italy.
Barclays plans $1.25 billion in cost savings, considering layoffs for up to 2,000 jobs
24 Nov 2023
Barclays, one of the leading British banks, is reportedly exploring strategies to save as much as £1 billion, with the possibility of cutting up to 2,000 jobs, particularly in the bank's back-office operations.
Citigroup considers significant job cuts in its ongoing CEO-backed restructuring
07 Nov 2023
Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.
Citigroup considers significant job cuts in its ongoing CEO-backed restructuring
07 Nov 2023
Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.
WeWork, formerly the most valuable US startup, declares bankruptcy under SoftBank ownership
07 Nov 2023
WeWork, the once high-flying office space provider backed by SoftBank Group, filed for bankruptcy protection on Monday, 6 November 2023.