Corporate Trends
CEO posts about his 'honest' firing approach on LinkedIn, faces backlash online
Matthew Baltzell, CEO of Cap X Media, faced a social media backlash after posting about firing an employee on LinkedIn. His 10-minute meeting with the employee, offering a severance package and a future reference, was seen as both professional and insensitive by different users. While some praised his transparency, others criticized his approach as tone-deaf and unprofessional. Baltzell emphasized the importance of handling exits with respect and maintaining a positive company culture.
Sarkari babus don't be late to office or you'll lose attendance; Centre cracks whip on latecomers
The Centre's DoPT mandates biometric attendance by 9:15 AM, allowing a 15-minute delay with half-day leave deduction for latecomers. The directive enforces punctuality and advance notice, addressing concerns post-Covid-19 outbreak.
Jeff Bezos reveals his morning routine: Scrolling, coffee and more
Billionaires are often perceived to be some of the most productive people in the world, attributing to the amount of wealth they own. However, for some, this is not the case and the executive chairman of Amazon, Jeff Bezos is one such person. Bezos, who is the second richest person in the world, begins his days slow.
High Court restrains Delhi company from using Infosys trademark
Delhi High Court restrains Southern Infosys, a software firm, from using 'Infosys' in a manner that infringes the trademark rights of Infosys, giving four months for transition to a non-infringing name.
Unicorn count may rise to 152 in 5 years with valuation over $1 billion
According to the ASK Private Wealth Hurun India Future Unicorn Index 2024, India is poised to witness the addition of at least 152 new unicorns (startups valued over $1 billion) from 31 cities over the next 3-5 years. This growth would expand the current count of 67 unicorns. Throughout the year, there has been notable activity in the future unicorn list, with 25 startups dropping off. Additionally, 12 companies were downgraded from gazelle status to cheetah, while 10 moved up from cheetah to gazelle.
Employees prefer work from home as heatwave forces corporates to adopt hybrid work
The 2023 report released by the Intergovernmental Panel on Climate Change (IPCC) reveals that rising global temperatures have led to unprecedented climate change across all regions of the world, with consequences ranging from rising sea levels to more frequent and severe weather events, as well as the rapid disappearance of sea ice.
Proxy advisory firm recommends voting against reappointment of Gautam Singhania to Raymond's board
A proxy advisory firm recommends Raymond shareholders to vote against reappointing Chairman Gautam Singhania due to accusations of domestic violence and misappropriation of funds by his estranged wife. The firm also suggests an independent investigation. Raymond's AGM is on June 27.
JM Financial finalises investment of Rs 40 cr in Modish Tractoraurkisan
JM Financial Private Equity has finalised an investment of Rs 40 crore in Modish Tractoraurkisan Pvt Ltd, a farm equipment company. The company sells its products under the brand name Balwaan. This investment will drive the company's brand-building initiatives, enhance marketing efforts, support working capital needs, and expand the distribution network, ensuring Balwaan's continued growth and leadership in the farm equipment industry.
We are investing in automation, digitisation and generative AI: Jennifer Tippin, Group COO, NatWest Group
Jennifer Tippin, Group COO, NatWest Group, said, "India is our second largest location outside of the UK, housing a quarter of our global workforce and half our technology workforce. We’ve been growing our presence here as our customers’ needs have changed, requiring more digitisation, enhancing our propositions and experiences. So, we’ve grown our capability here substantially - it’s more than just operations now."
Vena Solutions expands into India with new headquarters for talent growth
Vena Solutions has established a head office in Indore, Madhya Pradesh, in collaboration with Innogent Technologies, named Vena Solutions India, to recruit talent across India.
Herd on PE Street: TPG outruns everyone in race for Altimetrik
Last month, its Asia-focused fund TPG Asia VIII secured $5.3 billion in aggregate capital commitments. That made it the firm’s largest Asia fund in 30 years of investing in the region. Since inception, TPG Asia has ploughed more than $13 billion into core sectors including consumer, healthcare, financial services and TMT/new economy and the fund has realised more than $16 billion, according to its website.
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Business families seek legal advice to amend tightly written deeds of family settlement amid global expansion plans
Business families, particularly in India, are increasingly seeking legal counsel to amend rigid Deeds of Family Settlement (DFS) originally drafted decades ago. These deeds, designed to safeguard inheritances, now pose challenges as younger generations seek to expand globally into new sectors like fintech, tech-led consumer businesses, and electric vehicles. Legal experts note that the old deeds lack flexibility for today's globalized and dynamic business environment, prompting families to consider amendments to address issues such as wealth protection, succession planning, and regulatory compliance.
ET graphics: Shah Rukh Khan rises to third in celebrity brand value rankings, Kroll study shows
A study by Kroll ranks India's most powerful celebrity brands based on endorsement portfolios and social media presence, with Bollywood star Shah Rukh Khan ranking third in terms of brand value.
Som Distilleries & Breweries' child labour incident casts a cloud over India Inc's supply chains
Listed company SDBL in Bhopal rescued 58 children from child labour. Bachpan Bachao Andolan aided in rescue operation. While listed companies themselves rarely engage in child labour practices, they can become inadvertently connected to such practices through their supply chains. These issues predominantly involve smaller, unorganized entities in sectors like textiles, carpets, mining, firecrackers, and agriculture, where supply chains are intricate and challenging to oversee.
CCI approves Godrej family settlement proposals
The Competition Commission of India (CCI) has approved the restructuring of the Godrej group, involving a realignment of interests, legal ownership, and management among family branches. This restructuring, based on a family settlement agreement from April 30, will affect entities including Godrej Industries, Godrej Consumer Products, Godrej Properties, and others within the GILAC and G&B Groups.
Virat Kohli is most valued celebrity with brand value of $227.9 million
The overall brand value of the top 25 Indian celebrities included in the latest study is estimated at $1.9 billion in 2023, an 18% jump from the previous year.
