Business Standard
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Signature BankThe bidding process for the successor of Silicon Valley Bank is being extended by the Federal Deposit Insurance Corp. to give more time to work out a potential deal. The agency said it's going to allow parties to submit separate bids for Silicon Valley Bridge Bank and its subsidiary Silicon Valley Private Bank to simplify the bidding process and expand the pool of possible bidders.
Silicon Valley Bank successor's auction extended by FDIC
67% Center coverage: 12 sources
AmazonAmazon announced today that it would be laying off 9,000 employees in its cloud division. The move is part of a larger trend of the company getting leaner. In its most recent earnings report, the cloud division's growth rate dipped to 20%, down from 39% the year before.
AWS takes a hit in latest round of Amazon layoffs
34% Center coverage: 3 sources
BusinessRamesh Chauhan had been in negotiations with the Tata group's FMCG arm Tata Consumer Products Ltd (TCPL) for nearly four months but the deal did not go through.
No plans to sell Bisleri now, says Ramesh Chauhan
67% Left coverage: 3 sources
Adani Group · MundraAdani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat. The group's flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.
Adani says Mundra petchem work suspended as finances not tied-up yet
Coverage: 4 sources
Business'There is a lot happening,' CEO Campbell Wilson said, adding that the airline is shrinking and growing now.
Air India to temporarily reduce flights on some US routes; here's why
34% Center coverage: 6 sources
Silicon Valley BankThe Federal Deposit Insurance Corporation will hold two separate auctions for its traditional deposits unit and its private bank. Bank and nonbank financial firms will be allowed to bid on the asset portfolios. The run on the bank was sparked by balance-sheet concerns after the lender sold a portfolio of treasuries and mortgage-backed securities.
FDIC to break up SVB, seeks separate sale of private unit
67% Center coverage: 3 sources
UBS · AmsterdamBanking shares tumbled at the open of European markets Monday as they digested news of an emergency rescue takeover. Credit Suisse shares were down more than 60% from Friday's close while UBS' were down 5%. Saudi National Bank confirmed to CNBC that it had suffered a loss of around 80% of its $1.5 billion investment.
UBS rescue of Credit Suisse sends shudder through markets
57% Center coverage: 7 sources
AsiaThe Supreme Court refused to accept the Centre's sealed cover note about its views on the payment of One Rank One Pension (OROP) arrears to ex-service personnel. The bench is currently hearing the Indian Ex-Servicemen Movement's (IESM) plea over payment of OROP dues. The defence ministry has recently filed an affidavit and a compliance note in the top court, giving the time schedule for payment.
In OROP case, CJI refuses to accept ‘sealed cover’: Why did he do so?
56% Right coverage: 9 sources
