Tesla CEO Elon Musk strolling in Twitter HQ in 2022 (Image Credit: Screenshot of his video) Tesla CEO Elon Musk on Sunday shared a throwback video of him strolling into Twitter headquarters on the second anniversary of his $44 billion purchase of the social media giant X (formerly known as Twitter). The billionaire shared the…
NEW DELHI: Bharti Global, the international investment arm of Bharti Enterprises, on Monday announced the acquisition of a 24.5% stake in iconic BT Group plc from Altice UK, which will make it the largest shareholder in the company that once owned 21% in Bharti Airtel.Bharti has already acquired 9.9% in the UK’s top fixed and…
CHENNAI: India Cements vice chairman and managing director N Srinivasan has assured employees that the takeover by UltraTech Cement will not impact their career. He told them their future is in safe hands and that they need not feel threatened.“The change (from India Cements to UltraTech) does not mean a change in your career. I…
NEW DELHI: The defence ministry on Monday gave preliminary approval to the procurement of around 970 advanced land navigation systems (ALNS) for armoured fighting vehicles of the Army and 22 interceptor boats for the Coast Guard.The Rajnath Singh-led Defence Acquisitions Council (DAC) accorded AoN (acceptance of necessity) to the ALNS Mark-2, which will be “spoof-proof…
EssilorLuxottica EssilorLuxottica has agreed to buy streetwear brand Supreme from VF Corporation for $1.5 billion, both companies said on Wednesday, marking the first acquisition of an apparel company for the French-Italian eyewear maker. In a separate statement, EssilorLuxottica said it had agreed to buy an 80% stake in family-owned Heidelberg Engineering, a German company specialising…
Saks Fifth Avenue parent HBC will acquire department-store chain Neiman Marcus in a $2.65-billion deal, the companies said on Thursday, giving them stronger negotiating power with vendors and greater ability to control costs. The deal comes with luxury retailers battling slowing demand as high interest rates and inflation force customers to crimp budgets, following a…
New Delhi: Kalyan Jewellers India has signed a definitive agreement with Rupesh Jain, the founder of Candere to acquire his remaining 15 per cent stake in Candere valued at Rs 42 crore making it a subsidiary of Kalyan Jewellers, a wholly owned entity. The jewellery retailer initially acquired a majority stake in Candere in 2017…
Representative Image Kewal Kiran Clothing (KKCL), the manufacturer of Killer jeans, on Thursday announced the acquisition of a 50 per cent stake in Kraus for Rs 166.51 crore. Kraus Casuals Private Ltd (KCPL) manufactures jeans for women and the listed KKCL is venturing into the women’s denim segment through the deal, a statement said. The…
Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 266.35 crore for the fourth quarter ended March 2024. The company had posted a net loss of Rs 194.54 crore during the January-March quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its…
Reliance Retail Ventures Ltd. (RRVL) has signed a joint venture with Alia Bhatt‘s clothing brand of kids and maternity wear, Ed-a-Mamma for a 51% majority stake. ET was the first to report on July 17 on the possible acquisition. Launched in 2020, Bhatt has extended the kids brand into teenage and maternity wear segments as…
