AFFILIATE PARTNERS
Professional services companies add record partners as business booms
The professional services sector in India is experiencing significant growth, with top firms collectively amassing over 3,300 partners. EY stands out as the first firm to surpass 1,000 partners, driven by strong growth in advisory services post-Covid-19 disruptions. The Big Four firms reported combined revenue exceeding ₹39,000 crore, with a focus on expanding leadership to meet rising demand. Deloitte, PwC, and KPMG have been actively promoting and hiring partners, while Grant Thornton and BDO have also shown impressive partner growth.
10 ways to earn money from your Instagram account
Instagram, with its billion-user reach, offers lucrative opportunities for monetization through brand collaborations, affiliate marketing, and selling products directly. Content creators can leverage their influence by offering exclusive content, starting dropshipping businesses, or providing marketing services. These avenues allow individuals to turn creativity into income, catering to diverse interests and skills in the digital marketplace.
Amazon backs social media influencers, launches Creator University
Amazon is promoting India’s social media influencers to create content directly on the Amazon platform. Zahid Khan, director of shopping initiatives at Amazon, highlights the dual approach of leveraging external social media platforms and creating engaging content on Amazon.
SP Group arm Goswami Infra sweetens bond deal
Shapoorji Pallonji Group offers ₹400 crore more to Goswami Infratech bondholders to extend deadline for meeting covenants on ₹14,300 crore borrowings. The company seeks a 4-month window to sell assets, ensure payment of ₹1,400 crore interest at 18.75% by September 30, 2024.
ICAI disciplinary panel overlooks stay to pass order against 2 partners of PwC arms
Despite a Delhi High Court stay, the Institute of Chartered Accountants of India (ICAI) has published orders penalizing two PwC affiliate partners. PwC had obtained a stay against ICAI's disciplinary action, challenging fines and membership removal. The institute's move to upload the order on its website has sparked a legal battle. This follows a similar dispute with EY affiliates. The Big Four firms are contesting ICAI's disciplinary actions, demanding an appellate tribunal be established first.
Vedanta subsidiary raises pricey Rs 1,804 crore debt to lend to parent
Vedanta Semiconductors, a wholly owned subsidiary of Vedanta, raised Rs 1,804 crore in debt from private creditors such as Varde Partners and Davidson Kempner. The proceeds will be used to lend to Vedanta Ltd to repay its debt, said people with knowledge of the matter.
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Shriram Finance to sell housing finance subsidiary to Warburg Pincus for Rs 4,630 crore
Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment from all the sellers. Shriram Finance (SFL) holds a controlling stake in SHFL while private equity firm Valiant Partners L.P. (Valiant), Mauritius, holds the remaining ownership. As a part of this transaction, Valiant will also completely divest its equity stake to Warburg Pincus, the company filing said.
Instacart partners with Uber Eats to offer restaurant deliveries
San Francisco-based Instacart said Tuesday that its U.S. shoppers will see a "Restaurants" tab in the company's app in the coming weeks. Restaurant orders will be delivered by Uber Eats drivers.
ICAI defends action against EY affiliates, says move in sync with its statutory power
ICAI defends action against EY affiliates, cites statutory power. Delhi HC stays order. ICAI directs firms to end tie-ups violating norms. Accusations of bias. Supreme Court involvement.
Delhi Court stays ICAI move to bar EY affiliate firms, partners
Delhi High Court issued stay order against ICAI regarding actions on EY affiliate firms. Partners barred, fines imposed, partnerships terminated, retired partners affected. Investigation into Big Four ongoing, violation of Chartered Accountants Act cited, email IDs linkage issue addressed.
ICAI lens on big four affiliates over their association with global entities
The EY affiliate firm, SRBC & Co LLP spokesperson told ET that they will explore all issues raised in the order and explore options under the law including the appeal process. However, the problem is that the appellate tribunal, which is supposed to hear appeals, has not yet been set up by the institute. "The order focused only on procedural matters, not audit quality, and will not affect the future of the audit firms in any way" said a leading lawyer who works closely with Big Four firms on regulatory matters. Deloitte, KPMG, and PwC did not respond to the ET questionnaire on the matter.
ICAI charges 3 EY India affiliates with professional misconduct
The Institute of Chartered Accountants of India (ICAI) has found three EY India affiliate entities guilty of professional misconduct and reprimanded two partners for breaches of the Chartered Accountants Act. The entities were charged for their dealings with global EY network firms not regulated in India, including paying referral fees and using their names for publicity, which is against the guidelines of the Act. The order, issued on Thursday, is the first such action against a Big Four accounting firm in India.
How Murdoch partner is helping Asia’s richest man Mukesh Ambani build a media empire
Media giant Viacom18, backed by Reliance Industries Ltd., is set to become a powerhouse in India's media and entertainment industry. With a focus on streaming and digital offerings, Viacom18 aims to compete with tech giants like YouTube and Meta Platforms Inc. The company's strategy includes offering ad-supported programming and integrating e-commerce into its platform. Led by media veteran Uday Shankar, Viacom18 is betting big on mobile streaming and digital advertising to drive growth in India's rapidly evolving media landscape.
Ad isn’t created by us or any affiliate: Swiggy on viral post taking dig on Zomato pure veg fleet
In an advertisement posted by X user Nilesh Trivedi, the logo and name of Swiggy are seen on top, with the text commenting on rival Zomato's recent pure veg fleet. The user later said that the ad was very clearly a parody.
Tech giants expanded India's video revenues to $8.8 billion in 2023: report
In a report from Media Partners Asia, tech giants like YouTube, Meta, Netflix, and Amazon have significantly expanded India's video revenues. In addition, India's pay-TV market faces value risk as it transitions to connected TV, necessitating consolidation through M&A for industry incumbents to achieve scale, profitability, and competitiveness.
Artisan Partners divests 1.2% stake in Indus Towers for Rs 717 crore
According to the bulk deal data available with the BSE, Artisan International Value Fund offloaded 3,33,46,663 shares, amounting to a 1.24 per cent stake in Indus Towers.
Philip Morris International’s India affiliate appoints Navaneel Kar as managing director
Navaneel Kar has been appointed as the managing director of Philip Morris International Indian operations, IPM India. Prior to this role, he served as the president of sales at Tata Consumer Products. Kar will report to Ankur Modi, Cluster Head, South Asia & IndoChina, PMI.
WSB Partners plans to invest over Rs 1,200 cr for warehousing foray
India-focused asset manager WSB Real Estate Partners is entering the warehousing sector, planning to invest over RS 1,200 crore in building a 4 million sq ft portfolio across the country over the next two years. The firm is in talks with developers in key metro cities and non-metro cities for warehousing projects.
CCI clears stake acquisitions involving Niva Bupa Health Insurance, Constantia
The Competition Commission of India (CCI) has approved three proposals, including two involving the acquisition of equity shares in Niva Bupa Health Insurance. The CCI cleared a combination involving India Business Excellence Fund – IV and V-Sciences Investments Pte. Ltd. It also approved the acquisition of a shareholding in Constantia Flexibles Holding GmbH by Capripack BidCo GmbH.
3 global funds sell 7.8% stake in Five-Star Business for Rs 1,656 crore via open market
TPG Capital, through one of its affiliates TPG Asia Vii Sf Pte, sold 89,07,493 shares of Five-Star Business or 3.05% stake at Rs 730 apiece, aggregating around Rs 650 crore, according to bulk deals data on the National Stock Exchange. As of September end, the global private equity fund held 14.29% stake in the NBFC.
VinFast revenues jump on EV sales to Vietnam affiliate
VinFast, which is backed by Vietnam's largest conglomerate Vingroup, is gearing up to strengthen its foothold overseas, including India.
Affiliate venture funds Unitus, Capria to operate under single brand
The unified entity, Capria Ventures, will increase its focus on generative artificial intelligence (GenAI) and plans to invest than 75% of its investments in this emerging space. As per a statement, the firm intends to double down on investments in India, with a major focus on applied GenAI companies.
How to Become a Digital Marketing Executive
Digital marketing executives play a crucial role in shaping an organization's digital marketing strategies. They are responsible for conceptualizing, planning, executing, evaluating, and refining campaigns. To become a digital marketing executive, individuals often pursue studies in Digital Marketing or Marketing Management. Key skills required include analytical proficiency, inventive aptitude, and marketing acumen. Career paths for digital marketing executives include digital copywriters and digital marketing managers. While there are no specific prerequisites for a job in digital marketing, enrolling in a professional course can enhance job prospects.
How to Become an Affiliate Marketer
Affiliate marketers are professionals who promote products or services in exchange for compensation. They focus on driving traffic and engagement to their websites to increase visibility and earn revenue from clicks or successful conversions. Affiliate marketers create high-quality content to attract readers and generate clicks on affiliate links. They choose a niche and build a social media presence to reach a larger audience. Affiliate marketers can earn through cost-per-acquisition (CPA) or earnings per click (EPC) models. To become an affiliate marketer, candidates can complete a bachelor's degree in fields like journalism, mass communication, or digital marketing. They need skills in website design, problem-solving, technical acumen, and data analytics. Career opportunities include junior affiliate marketer, senior affiliate marketer, and affiliate marketing manager roles.
Binance market share takes regulatory hit, its US affiliate shrinks
Binance.US, the purportedly independent partner of Binance, has seen its U.S. market share slump to 0.9% on June 26 from over 22% in April after the exchange gave its customers a deadline of June 13 to withdraw their dollar funds as the SEC asked a court to freeze its assets.
Binance market share takes regulatory hit, its US affiliate shrinks
Last month, Binance was hit by a lawsuit by the US Securities and Exchange Commission for allegedly breaching the regulator's rules, pushing its global market share to 52% from 60% at the start of the year, according to data firm Kaiko.
How to begin your career journey as a micro influencer?
Social media and digitalization have revolutionized the marketing and advertising industry, redirecting the approach of businesses and pushing them towards influencer marketing. The popularity of micro-influencers has soared as they have a highly engaged following that provides a personal and authentic connection with their audience, leading to better engagement rates.
Crypto giant Binance controlled 'independent' US affiliate's bank accounts
US lender Silvergate Bank authorized the executive, Guangying Chen, a close associate of Binance CEO Changpeng Zhao, to operate the accounts in 2019 and 2020, according to records from those years. This allowed Chen and her deputies to move funds held in the bank accounts. Employees at the affiliate, Binance.US, had to ask Chen's team to process payments, even to cover the firm's payroll, company messages show.
Reliance Jio partners up with IRM to enhance ERM & risk intelligence awareness
As a part of the association IRM India Affiliate and Jio will organise webinars, roundtables, industry meetings, and thought leadership articles towards knowledge building to enhance ERM and risk intelligence for the sector.
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