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WeWork losses widen to $1.25 bln amid record office space expansion.
The We Company, owner of WeWork, said on Wednesday net losses in the third quarter more than doubled to $1.25 billion as the money-losing shared-office operator added a record number of desks to its global network but was unable to control rising costs. Read More
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BBB zeroes three names for MD & CEO position at BoB, Canara Bank, BoI.
Banks Board Bureau has recommended 3 names for the position of MD & CEO at 3 public-sector banks namely BoB, Canara Bank and BoI. They are Sanjeev Chadha for Bank of Baroda (BoB), L.V. Prabhakar for Canara Bank and Atanu Kumar Das for Bank of India (BoI). Read More
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In the Rs.13000 cr PNB Fraud case, National Company Law Appellate Tribunal ordered against the four Independent Directors (ID) of the Nirav Modi-led Firestar International, to freeze and attach their assets, including their bank accounts, along with that of the promoters. The order was finally stayed by the Supreme Court. In another instance, the courts have ordered the arrest of the three Amrapali Group promoter directors and to seize the passports of all the eight directors, as reported in the media. Likewise, in the ILFS case, the role of IDs came under a scrutiny. In the case of Jaiprakash Associates, about 2 years ago, the apex court of India adjudged restraining IDs, along with the promoters, from transferring any personal assets, over a group company’s insolvency issue. Read More
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Opinion | Give Infosys a chance to justify its reputation.
When seven engineers founded Infosys in 1981 with just about $250 as startup capital, they would hardly have expected it to achieve iconic status as a company. But Infosys did. In the process, it didn’t just help galvanize India’s information technology industry, it served as a beacon for Indian entrepreneurship. Read More
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Opinion | CEO term limits: Double edged sword?
Although corporate governance may not be the sole driver for economic development, it is considered as a key element that drives economic growth, efficiency, stability as well as encouraging domestic and foreign direct investment into the economy. Read More
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