Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Shilpi Majumdar"


25 mentions found


Both the companies have set July 13 as the "record date" to swap HDFC's shares with HDFC Bank's stock for its shareholders, HDFC and HDFC Bank said in separate exchange filings on Friday. With the share swap, HDFC Bank will become one of the world's top 10 banks in terms of market capitalisation, as per Refinitiv data. After the merger, HDFC Bank has no identified promoter. With the merger, HDFC Bank's total loan book will be over 22 trillion rupees, behind only that of State Bank of India (SBI.NS), the country’s largest lender. Both the entities have set July 12 as a record date for transfer of non-convertible debentures of HDFC in the name of HDFC Bank.
Persons: Sashidhar Jagdishan, HDFC's Keki Mistry, Siddhi Nayak, Jose Joseph, Shilpi Majumdar, Maju Samuel Organizations: Housing Development Finance Corp, HDFC Bank, HDFC, State Bank of India, Reuters, Siddhi, Thomson Locations: Renu, India, HDFC
A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of March 27. It would pay $14.92 per share, or $34.6 million in upfront cash, for the rest of the company. Sigilon shareholders will get an additional $111.64 per share if they achieve certain developmental and regulatory milestones, Lilly said. The deal, which is expected to close in the third quarter of 2023, would give Lilly access to Sigilon's proprietary cell therapy candidate being developed to treat type 1 diabetes. The two companies have been partners since 2018, when Lilly paid Sigilon $63 million for a licensing deal to develop cell therapes targeting type 1 diabetes and made an undisclosed equity investment.
Persons: Eli Lilly, Lilly, Sigilon, Mariam Sunny, Shilpi Majumdar Organizations: Sigilon Therapeutics, Thomson Locations: Sigilon, Bengaluru
June 29 (Reuters) - AIP Capital said it was in talks to pick up a 10% stake in Eastar Jet as the aviation asset management arm of U.S.-based private equity firm 777 Partners seeks to tap into the travel resurgence in Asia. AIP would also lease five Boeing 737 MAX 8 jets to the South Korean low-cost airline, it said without disclosing the additional terms of the deal, which is expected to close mid-July. In 2021, Eastar Jet had filed for court receivership as the COVID-19 pandemic battered the travel industry. Earlier this year, South Korean private equity firm VIG Partners bought the airline and agreed to inject 100 billion Korean Won ($75.98 million) into the carrier, according to a DealStreet report. Separately, AIP announced that it has closed a minority investment and joint venture agreement with consulting and investment firm Dreamstone Aviation Partners.
Persons: Eastar Jet, Jared Ailstock, 1,316.2100, Abhijith, Shilpi Majumdar Organizations: AIP, Jet, Partners, Boeing, South, VIG Partners, Won, Dreamstone Aviation Partners, Thomson Locations: U.S, Asia, Dreamstone, Bengaluru
Honeywell to acquire heads-up display assets from Sweden's Saab
  + stars: | 2023-06-28 | by ( ) www.reuters.com   time to read: +1 min
June 28 (Reuters) - U.S. conglomerate Honeywell (HON.O) said on Wednesday it had agreed to acquire Swedish aerospace firm Saab's (SAABb.ST) heads-up display (HUD) assets to strengthen its avionics unit. The HUDs will be integrated into aircraft cockpit systems, adding features such as wide field-of-view, high image resolution, low system latency and lower weight. The HUD system helps pilots with increased situational awareness, especially at night or in difficult weather conditions. "Heads-up displays have been known to reduce pilot workload, increase situational awareness, improve access to airports with enhanced flight vision system and safety," said Vipul Gupta, general manager, avionics, Honeywell Aerospace. Reporting by Pratyush Thakur in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Vipul Gupta, Pratyush Thakur, Shilpi Majumdar Organizations: Honeywell, Boeing, Airbus, Honeywell Aerospace, Thomson Locations: Swedish, Bengaluru
June 28 (Reuters) - United Parcel Service (UPS.N) said on Wednesday it is working with law officials and outside experts following reports of phishing messages that were sent via text messages to certain shippers and their customers in Canada. The package delivery company did not disclose the number of customers and shippers impacted. "Law enforcement has indicated that there has been an increase in smishing (SMS phishing), impacting a number of shippers and many different industries," UPS said in an emailed statement. UPS said it was sending privacy incident notification letters to individuals in Canada whose information may have been impacted. Reporting by Priyamvada C and Aishwarya Nair in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Priyamvada C, Aishwarya Nair, Shilpi Majumdar Organizations: United Parcel Service, UPS, Security, Thomson Locations: Canada, U.S, Bengaluru
June 28 (Reuters) - Hua Hong Semiconductor (1347.HK) said on Wednesday China IC Fund II would participate in a proposed RMB share issue as a strategic investor by subscribing for RMB shares worth 3 billion yuan ($414.15 million), subject to allotment. China's second-largest chip foundry has established an independent board committee to consider and advise its independent shareholders as to whether the terms of the China IC Fund subscription are fair and reasonable, it said. The company said it expects the RMB share issue to enable it to enhance its production capacity and research and development capability, among other things. The Shanghai-based chipmaker had in May received Shanghai Stock Exchange's approval for a planned public share sale worth $2.6 billion, which would be the year's biggest mainland listing so far. ($1 = 7.2437 Chinese yuan renminbi)Reporting by Echha Jain in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: chipmaker, Echha Jain, Shilpi Majumdar Organizations: Hua Hong Semiconductor, HK, China IC, China IC Fund, Shanghai Stock, Thomson Locations: China, Shanghai, Bengaluru
June 27 (Reuters) - Credit card giant American Express Co (AXP.N) said on Tuesday Chief Financial Officer Jeffrey Campbell has decided to retire from the company, and Deputy CFO Christophe Le Caillec would succeed him. He joined American Express as CFO in 2013, would remain with the company as vice chairman until March 2024. Le Caillec has been with American Express for over 25 years, serving in top roles including the company's executive committee. Le Caillec currently leads the corporate planning team at the card firm, as well as risk, technology and the global services group finance functions. Reporting by Manya Saini in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Jeffrey Campbell, Christophe Le Caillec, Le Caillec, Manya Saini, Shilpi Majumdar Organizations: American Express, Thomson Locations: Bengaluru
June 27 (Reuters) - Booking.com (BKNG.O) said on Tuesday it would test a trip planner, partially powered by ChatGPT's large language model, on its travel booking app that would allow select travelers in the U.S. to pose queries and create itineraries. "Our new AI Trip Planner provides us with some really exciting possibilities to help our customers plan and search for travel options in a very natural, human way," Booking.com's technology chief Rob Francis said in a statement. The technology, known as generative AI, has taken the tech world by storm and pushed many companies to explore its uses. An early version of the trip planner will become available to some of Booking.com's loyalty program "Genius" members in the United States over the coming weeks. Reporting by Priyamvada C and Shivansh Tiwary in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Rob Francis, Expedia, Priyamvada, Shilpi Majumdar Organizations: Thomson Locations: U.S, San Francisco, United States, Bengaluru
June 26 (Reuters) - PacWest Bancorp (PACW.O) said on Monday it was selling a $3.54 billion lender finance loan portfolio to Ares Management (ARES.N), in an attempt to boost liquidity at the U.S. regional lender, sending its shares up 7% in premarket trading. Since late May, Los Angeles-based PacWest has also sold its real estate lending unit and a huge chunk of its real estate loans. Through sale of such loans, some regional banks in the United States are trying to shore up capital and build investor confidence after a recent banking crisis. PacWest fetched $2.01 billion in proceeds from sale of the first part of its lender finance loan portfolio, it said in a filing with the U.S. Securities and Exchange Commission. Its lender finance arm provided loans to small business lenders, commercial real estate lenders and consumer lenders.
Persons: PacWest, Paul Taylor, Blackstone, Ares, Niket, Shilpi Majumdar, Shinjini Organizations: PacWest Bancorp, Ares Management, U.S, Federal Reserve, U.S . Securities, Exchange Commission, Barclays, Thomson Locations: Los Angeles, United States, Bengaluru
June 26 (Reuters) - Prologis Inc (PLD.N) said on Monday it has agreed to buy 14 million square feet of industrial properties from real estate funds affiliated with Blackstone (BX.N) for $3.1 billion in an all-cash deal. It currently owns 1.2 billion square feet of logistics real estate in 19 countries. With near record-low vacancy, logistics remains a high conviction theme for us," Nadeem Meghji, head of Blackstone Real Estate Americas, said. Prologis and Blackstone have completed more than a dozen transactions together in the past 11 years, according to the statement. Eastdil Secured, Barclays, BofA Securities, Citigroup Global Markets, Deutsche Bank Securities, Goldman Sachs, J.P.Morgan Securities, Morgan Stanley, PJT Partners and Wells Fargo acted as financial advisers to Blackstone.
Persons: Nadeem Meghji, Prologis, Blackstone, Eastdil, Goldman Sachs, Morgan Stanley, Wells Fargo, Kannaki, Shilpi Majumdar Organizations: Prologis, Blackstone, Estate, Duke Realty Corp, Barclays, BofA Securities, Citigroup Global Markets, Deutsche Bank Securities, J.P.Morgan Securities, PJT Partners, Thomson Locations: Atlanta , Washington DC , California, Dallas, Las Vegas , New York, Phoenix, South Florida, U.S, Bengaluru
Build quality of certain parts such as audio systems and cup-holders have resulted in quality issues, the report said, which collected data from 93,380 purchasers and lessees of 2023 model-year vehicles. Problems per 100 vehicles (PP100) rose 30 PP100 during the past two years, the report said. A lower score reflects higher vehicle quality. The wide range of quality problems in the automotive industry is "a phenomenon not seen in the 37-year history of the Initial Quality Study", said J.D Power's senior director of auto benchmarking Frank Hanley. Dodge ranked the highest overall in terms of initial quality, while Chrysler and Volvo were jointly ranked lowest, according to J.D.
Persons: Bing Guan, J.D Power's, Frank Hanley, Hanley, Nathan Gomes, Shilpi Majumdar Organizations: Tesla Inc, Dodge, Chrysler, Volvo, Thomson Locations: United States, Carson , California, U.S, Bengaluru
June 20 (Reuters) - Civitas Resources (CIVI.N) said on Tuesday it would acquire oil and gas operations in the Permian basin managed by private equity firm NGP Energy Capital Management for $4.7 billion, expanding its operations into the lucrative shale patch. The deal is transformative for Civitas, which until now operated solely in Colorado's Denver-Julesburg (DJ) basin. Under the terms, Civitas has agreed to purchase a portion of Tap Rock Resources' assets and all of Hibernia Energy III's operations. "Simply put, these transactions make Civitas a better company, and we see tremendous opportunity to add value in the Permian that will complement our leading oil position in the DJ basin," Civitas Chief Executive Chris Doyle told analysts. News of the deal, which Reuters was first to report on Monday, sent Civitas' shares 8% lower.
Persons: Civitas, Chris Doyle, Ben Dell, David French, Mrinalika Roy, Shilpi Majumdar, Emelia Organizations: Civitas Resources, NGP Energy Capital Management, Rock Resources, Hibernia Energy, Reuters, Thomson Locations: Colorado's Denver, U.S, Rock, DJ, Texas, New Mexico, Denver, New York, Bengaluru
Civitas Resources shells out $4.7 billion for Permian assets
  + stars: | 2023-06-20 | by ( ) www.reuters.com   time to read: +2 min
June 20 (Reuters) - Civitas Resources (CIVI.N) said on Tuesday it would acquire oil and gas operations in the Permian Basin managed by private equity firm NGP Energy Capital Management for $4.7 billion, expanding its operations into the lucrative shale patch. Under the terms of the transactions, Civitas has agreed to purchase a portion of Tap Rock Resources' Delaware Basin assets and all of Hibernia Energy III's Midland Basin assets. Both Tap Rock and Hibernia are portfolio companies of funds managed by NGP. Reuters was the first to report that Civitas was in advanced talks with NGP to buy the Permian Basin-focused assets. Plenty of tier-1 acreage still available, indicating shale oil production will grow through to the end of this decade, HSBC analysts wrote in a June 20 note.
Persons: Civitas, NGP, Chris Doyle, Mrinalika Roy, Shilpi Majumdar Organizations: Civitas Resources, NGP Energy Capital Management, Rock Resources, Hibernia Energy, Midland, NGP, Reuters, Civitas, HSBC, Thomson Locations: Rock, Delaware, Hibernia, Texas, New Mexico, Denver, Bengaluru
LinkedIn to test ad product for video streaming services
  + stars: | 2023-06-15 | by ( ) www.reuters.com   time to read: +1 min
June 15 (Reuters) - Microsoft Corp-owned (MSFT.O) LinkedIn said on Thursday it was working on a video advertising product that would allow marketers to target users of the professional networking site while they watch content on streaming services. This comes after LinkedIn introduced AI features to help advertisers write ad content, part of a strategy to expand its ads business at a time when economic uncertainties have hit advertising budgets. "In-stream video ads can change the way brands and buyers reach and engage their audiences," Penry Price, vice president of marketing solutions at LinkedIn, told Reuters. LinkedIn's revenue jumped 34% to $3.5 billion last year, helped by advertising demand and a strong job market. The company generates revenue from ad sales and subscriptions for recruiters, job seekers and sales professionals.
Persons: Price, Jaspreet Singh, Shilpi Majumdar Organizations: Microsoft Corp, Reuters, Thomson Locations: Bengaluru
Canada's Bell deepens news industry gloom with 1,300 job cuts
  + stars: | 2023-06-14 | by ( ) www.reuters.com   time to read: +2 min
The layoffs will mostly affect management and follow thousands of cuts in the media industry that has been wrestling with dwindling ad dollars, elevated levels of inflation and the ongoing shift from cable TV to streaming. The company expects Bell Canada's legacy phone revenue to decline by $250 million each year, while the news operation posts annual operating losses of $40 million. "Our industry is experiencing a major disruption," said senior executive Wade Oosterman in an internal memo seen by Reuters. The Canadian telecom industry has over recent years come under pressure from the government to bring down phone bills in a concentrated market. Affected employees will be informed this week, Bell said, adding that vacant positions were eliminated to minimize the impact on teams.
Persons: Bell, Wade Oosterman, Chrystia Freeland, Samrhitha Arunasalam, Aditya Soni, Shilpi Majumdar, Shinjini Organizations: Bell, Inc, Reuters, Google, Facebook, U.S, CTV, Canadian Finance, Canada, Thomson Locations: Canadian, London, Los Angeles, Washington, Ottawa, Bengaluru
June 13 (Reuters) - Walmart (WMT.N) said on Tuesday it would invest $257 million to open a beef-packing plant in Olathe, Kansas in 2025, which would create more than 600 jobs. The facility will package and distribute cuts of the higher grade Angus beef from Sustainable Beef LLC. Walmart had acquired a minority stake in the ranch-based beef processing plant last year, which is expected to be functional in late-2024. The company's investment plans come at a time when consumers have been trading down to cheaper private labels due to high inflation. Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Juveria, Shilpi Majumdar Organizations: Walmart, Sustainable Beef LLC, Thomson Locations: Olathe , Kansas, Angus, Bengaluru
The move comes at a time when pilots in North America are pushing for better pay and working conditions during their talks with company managements over new employment contracts. Delta Air Lines' (DAL.N) landmark pilots contract, which offers $7 billion in higher pay and benefits in March has put pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. United's CEO Scott Kirby told Bloomberg News that the company has been negotiating weekly to reach a formal agreement with the union. United did not immediately respond to a Reuters request for comment. Reporting by Priyamvada C in Bengaluru; Editing by Shilpi Majumdar and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Scott Kirby, Priyamvada, Shilpi Majumdar, Shailesh Organizations: United Airlines Holdings Inc, Bloomberg, Delta Air Lines, Bloomberg News, Thomson Locations: U.S, North America, Bengaluru
United Air expects new pilot offer to add over $8 bln in costs
  + stars: | 2023-06-13 | by ( ) www.reuters.com   time to read: +2 min
Delta Air Lines' (DAL.N) landmark pilots contract in March, which offers $7 billion in higher pay and benefits, has put pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. Earlier this month, the company's pilots union voted to authorize a strike vote - a bargaining tactic unions have been using in contract negotiations. However, Kirby did not reveal details included in the proposal, other than to say United would top the recent deals agreed to by its two biggest rivals. "We have disagreed with the company on the costing of items and they, in our opinion, have inflated many. Meanwhile, shares of United Airlines rose 3.5% in afternoon trade, benefiting from broader market gains.
Persons: Scott Kirby, Kirby, Priyamvada C, Nathan Gomes, Allison Lampert, Shilpi Majumdar, Shailesh Kuber, Pooja Desai Organizations: United Airlines Holdings Inc, Delta Air Lines, Bloomberg, Air Line Pilots Association, Reuters, United Airlines, Thomson Locations: North America, Chicago
June 12 (Reuters) - Chipmaker GlobalFoundries (GFS.O) and missile manufacturer Lockheed Martin (LMT.N) on Monday announced their partnership to secure domestic semiconductor supply for defense systems. The strategic collaboration will secure manufacturing across a range of advanced and next-generation chips, and will allow leveraging of GlobalFoundries' technology to increase anti-fragility in microelectronics systems and supply chains. Defense companies have been grappling with supply chain disruptions including that from global chip shortages, which continue to hurt production. Lockheed Martin along with GlobalFoundries will also pursue external funding opportunities, technology development and collaboration with the U.S. government. GlobalFoundries' manufacturing facilities in New York and Vermont have accreditation from the U.S. government and are authorized to produce secure chips used in sensitive mission systems.
Persons: Lockheed Martin, GlobalFoundries, Pratyush Thakur, Shilpi Majumdar Organizations: Lockheed, Monday, U.S, U.S ., Thomson Locations: United States, New York, Vermont, Bengaluru
Companies General Motors Co FollowJune 8 (Reuters) - General Motors (GM.N) said Thursday it will invest more than $500 million in its Arlington, Texas assembly plant to prepare it for production of next-generation internal combustion engine full-size SUVs. Efforts to retool existing North American auto plants and introduce more efficient next-generation internal combustion models are also being planned, sources told Reuters. GM faces increasingly stringent emissions requirements from California and the Environmental Protection Agency (EPA). On Tuesday, GM said it would invest C$280 million ($210 million) in its Canadian Oshawa Assembly to produce the next-generation internal combustion engine full-size trucks. GM faces pressure from the United Auto Workers union, which will enter contract talks with the Detroit Three automakers this summer.
Persons: Mary Barra, Gerald Johnson, David Shepardson, Shivansh, Shilpi Majumdar, Diane Craft Organizations: General Motors, Detroit, Reuters, GM, Environmental Protection Agency, Chevrolet Tahoe, Suburban, Canadian Oshawa Assembly, EPA, Michigan, Capitol, United Auto Workers union, Detroit Three, UAW, Thomson Locations: Arlington , Texas, California, Flint , Michigan, Texas, Washington, Bengaluru
TSX pares gains after surprise BoC rate hike
  + stars: | 2023-06-07 | by ( Ankika Biswas | ) www.reuters.com   time to read: +2 min
June 7 (Reuters) - Canadian stocks pared gains on Wednesday after the country's central bank's surprise decision to raise its benchmark interest rates, while a boost from energy shares helped keep the main stock index afloat. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 0.05%, after rising as much as 0.4% to 20,149.95 ahead of the rate decision. The Bank of Canada (BoC) hiked the key rate to 4.75%, the highest level in 22 years, on increasing concerns that inflation could get stuck significantly above its 2% target. Canadian money markets see a near-50% chance of another rate hike in July, fully pricing in further tightening by September. BOCWATCHInvestors are now on the lookout for inflation data out of the U.S. and the Federal Reserve's policy meeting next week.
Persons: Diana Avigdor, Ankika Biswas, Shashwat Chauhan, Shilpi Majumdar Organizations: Toronto Stock, Bank of Canada, BoC, Capital Management, BOCWATCH, Energy, North West Company, Thomson Locations: China, Bengaluru
June 7 (Reuters) - FibroGen Inc (FGEN.O) said on Wednesday its drug to treat a type of neuromuscular disorder failed to meet the main goal in a late-stage study, sending the company's shares down about 14% in premarket trading. The treatment was generally safe and well tolerated for patients with Duchenne muscular dystrophy (DMD). DMD is a progressive degenerative disorder that hampers muscle movement and affects one in 3,600 newborn boys, most of whom die by the age of 30. Reporting by Sriparna Roy in Bengaluru; Editing by Shilpi Majumdar and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Sriparna Roy, Shilpi Majumdar, Shounak Organizations: FibroGen, Thomson Locations: Bengaluru
[1/3] A Chevrolet 2020 heavy-duty pickup truck is seen at the General Motors Flint Assembly Plant in Flint, Michigan, U.S. February 5, 2019. GM has outlined this year a total of $1.7 billion in investments in Flint facilities to support the next generation of its heavy duty pickups. GM said it will spend $579 million at its Flint Engine Operations to produce a sixth generation of its small block V-8 combustion engine. Another $103.5 million will be spent upgrading a separate Flint facility that supports truck production. GM expects to start bargaining with the United Auto Workers union for a new contract with a deadline of Sept. 14 to reach an agreement with it U.S. production workers.
Persons: Rebecca Cook, Ram, Mike Booth, Shawn Fain, Fain, Priyamvada, Shilpi Majumdar, David Gregorio Our Organizations: General Motors, REUTERS, General Motors Co, GM, Ford Motor, Detroit Three, United Auto Workers, Investment, UAW, Thomson Locations: Flint , Michigan, U.S, Flint, Kokomo , Indiana, Kokomo, Asia, Bengaluru
Companies Grail Inc FollowIllumina Inc FollowJune 2 (Reuters) - Cancer test maker Grail Inc (GRAL.O) said on Friday that its telemedicine vendor erroneously sent letters to about 400 patients suggesting they may have developed cancer. Grail's flagship cancer detection blood test Galleri is designed to detect more than 50 types of cancer before symptoms appear. Grail said it had reached out to the patients immediately after the issue, adding that no patient health information has been disclosed or breached due to this. The software issue being faced by PWNHealth has now been resolved, it said. Illumina is currently appealing regulatory orders in the U.S. and EU, which are asking the gene sequencing company to divest Grail after it jumped regulators to close its acquisition of the cancer test maker.
Persons: Grail, PWNHealth, Illumina, Mariam Sunny, Shilpi Majumdar Organizations: Illumina Inc, Thomson Locations: U.S, Bengaluru
June 2 (Reuters) - Stratasys Ltd (SSYS.O) said on Thursday that it had received an unsolicited buyout proposal from rival 3D Systems Corp (DDD.N), valuing the industrial 3D printer at about $1.21 billion. Stratasys shares were up 10.1% at $16.04, while 3D Systems was up 2.6% at $8.55 in premarket trading on Friday. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 of its newly issued stock for each share of the target company, which translates to $17.92 on a per-share basis. Stratasys said its board would "carefully review" the newly received non-binding proposal, adding that the Desktop Metal deal is still expected to close in the fourth quarter of this year. 3D Systems on Friday confirmed its bid for Stratasys and said that if the deal goes through, it will bring $100 million in cost synergies.
Persons: Stratasys, Jaiveer Singh, Shilpi Majumdar, Anil D'Silva, Shounak Organizations: Stratasys, 3D Systems Corp, Systems, Metal Inc, Thomson Locations: Rehovot, Israel, Bengaluru
Total: 25