Yes Bank stake sale: SBI seals 13.18% divestment to Japan’s SMBC; largest cross-border deal in banking sector
[content split=25] Yes Bank stake sale: State Bank of India (SBI) has offloaded around 13.18% of its holding in Yes Bank Limited (YBL) to Japan’s Sumitomo Mitsui Banking Corporation (SMBC), marking the completion of a major divestment.SMBC, part of the Sumitomo Mitsui Financial Group (SMFG), is counted among the top foreign banks in India. SMFG…
Hyundai wage hike: Chennai plant staff to get Rs 31,000 more every month; three-year package includes health benefits
South Korean car maker Hyundai Motor India agreed on a three-year wage package for its employees at the Chennai plant in Tamil Nadu. The deal, announced on Wednesday runs from 1 April 2024 to 31 March 2027 and includes a monthly salary hike of Rs 31,000, applied in a ratio of 55%, 25% and 20%,…
Jerry leaves Ben & Jerry’s: Feud with parent Unilever over Gaza; co founder steps down ‘in good conscience’
Ben & Jerry’s co-founder Jerry Greenfield has stepped down from the ice cream brand, saying he can no longer “in good conscience” remain after 47 years, as the company’s long-running rift with its parent Unilever deepens over its position on Gaza.In an open letter to the Ben & Jerry’s community, shared on X by his…
Sebi leases Rs 7 lakh/month Mumbai luxury flat for chairman; regulator says deal within Board policy – check details here
The Securities and Exchange Board of India (Sebi) has leased a luxury apartment in Mumbai’s upscale Prabhadevi locality for its chairman at a monthly rent of Rs 7 lakh. The apartment will house Sebi Chairman Tuhin Kanta Pandey, who took charge on March 1 this year.According to Sebi, the arrangement follows its existing policy. “Sebi…
Nestle share price drops: Chairman Paul Bulcke to step down earlier than expected; food giant’s shares fall 0.5%
Nestle shares dipped on Wednesday after the food and beverage giant announced the “earlier than planned” exit of its chairman, Paul Bulcke, marking another shake-up at the top of the Swiss multinational.The news sent Nestle’s stock down 0.51% to 71.52 Swiss francs ($90.80) in early trading, weighing on the Swiss stock exchange’s SMI index, which…
Digital registry! Centre to digitise database of land records; move to establish ownership rights, cut disputes
The government is working on building a comprehensive, integrated electronic database of land records that will clearly establish ownership rights in both rural and urban areas, supported by cadastral maps, land resources secretary Manoj Joshi told ET.Officials believe the move will enhance real-time access to land ownership details, improve the utilisation of land resources, reduce…