Us Companies

Mahyco seals joint venture with US' RiceTec for HT rice and wheat

In the case of HT rice, the technology that the JV will commercialize is called 'FullPage' which is a new generation double stack mutant herbicide-tolerant rice technology

Retail giant Amazon adds Grubhub food delivery to its website, app in US

As part of the agreement, Amazon Prime members will continue to be eligible to avail a free Grubhub+ membership worth $120 a year, which includes free delivery on orders above $12

Retail giant Walmart to fire hundreds of corporate staff, relocate others

Walmart employed approximately 2.1 million associates as of Jan. 31, 2024, according to regulatory filings

Europe, US companies back India for derisking from China: Survey

The other key emerging markets, the survey said, are southeast Asia, where 60 per cent of the respondents were willing to put in 50 per cent more investment in the next three years

Freshworks founder Mathrubootham steps down as CEO, Woodside takes charge

Girish Mathrubootham becomes executive chairman of Nasdaq-listed SaaS firm to focus on 'long-term' vision

American Express opens its largest campus worldwide in Gurugram, India

At nearly one million square feet, the new campus will become operational by the end of the month

Tensions between Beijing, Washington biggest worry for US firms in China

Simmering tensions between Beijing and Washington remain the top worry for American companies operating in China, according to a report by the American Chamber of Commerce in China released Tuesday. The survey of US companies said inconsistent and unclear policies and enforcement, rising labour costs and data security issues were other top concerns. It also said that, despite the insistence of Chinese leaders that Beijing welcomes foreign businesses, many still are hindered from free competition. The Chinese government has stated that it encourages foreign direct investment, but many of our members continue to encounter barriers to investment and operations including policies that discriminate against them and public relations campaigns that create suspicion of foreigners, the report said. The report welcomed an improvement in relations in 2023 that was capped by summit meetings of Chinese leader Xi Jinping and President Joe Biden, but said the US presidential election in November w

US firm helping immigrants in detention to pay over $811 mn in lawsuit

A company that provides services for immigrants in federal detention was ordered Tuesday to pay more than $811 million in restitution and penalties in a lawsuit alleging it used deceptive and abusive tactics. Nexus Services must pay roughly $231 million in restitution as well as penalties of $13.8 million to New York, $7.1 million to Virginia and $3.4 million to Massachusetts, according to a judgement filed in federal court for the Western District of Virginia in Harrisonburg. The Virginia-based company, its subsidiary Libre by Nexus and its three executives must also each pay more than $111 million in civil penalties. This judgment is a victory for thousands of immigrant families who lost their life savings and were targeted and preyed on by Libre, New York Attorney General Letitia James said in a statement. Libre exploited vulnerable immigrants and their families to pad its pockets, and that is illegal and unconscionable. James joined state attorneys general in Virginia and ...

China's President Xi Jinping meets US executives, academics in Beijing

The audience with Xi follows Chinese Premier Li Qiang not meeting visiting foreign CEOs at the China Development Forum in Beijing on March 24-25

US companies turning more optimistic in China outlook, shows survey

Still, 43 per cent of surveyed AmCham members indicated they don't plan to expand their investments this year, and another 5 per cent planned to cut the spending

Apple returns to list of top US employers as other tech firms lose appeal

The best company to work for was management consultant Bain & Co., followed by chipmaker Nvidia Corp., whose products underpin the booming artificial intelligence field

US companies picky about investing in China, but keen on burgers, lattes

There's been no shortage of tough news for China's economy as some of the world's biggest brands consider or take action to shift manufacturing to friendlier shores at a time of unease about security controls, protectionism and wobbly relations between Beijing and Washington. Count Adidas, Apple and Samsung among those looking elsewhere. But as a tumultuous 2023 for the Chinese economy comes to a close, there has been at least one bright spot for Beijing when it comes to foreign investment: American fast-food chains have decided a market of 1.4 billion people is simply too delicious to pass up. KFC China's parent company opened its 10,000th restaurant in China last month and aims to have stores within reach of half of China's population by 2026. McDonald's is planning to open 3,500 new stores in China over the next four years. And Starbucks invested $220 million in a manufacturing and distribution facility in eastern China, its biggest project outside the U.S. This is surely not wh

Have no regrets about returning, despite challenges, says Disney's Iger

Iger, who came back as CEO a year ago after the dismissal of his hand-picked successor Bob Chapek, said the company has emerged from a year of "fixing a lot of things"

Sam Altman is back at OpenAI, but questions remain as to why he was fired

Altman had been fired Friday after clashing with the board over his drive to transform OpenAI from a nonprofit organisation focused on the scientific exploration of artificial intelligence

New Binance CEO Richard Teng's first job is to avert customer exodus

Teng, 53, succeeded Zhao as the chief executive of the world's largest crypto exchange after the company and Zhao pleaded guilty to US anti-money laundering and sanctions violations

Musk's X to file 'thermonuclear' lawsuit against media watchdog: Report

Musk on Wednesday endorsed an antisemitic post on X that falsely claimed members of the Jewish community were stoking hatred against white people

Byju's in talks to sell US unit Epic for $400 mn to ease financial pressure

Byju's and its creditors are locked in conflict over a missed interest payment on a term loan that the startup had taken out to help finance a global acquisition spree during the pandemic

US companies express interest to invest around Rs 25,000 cr in Karnataka

The Karnataka government on Thursday said several American companies have evinced interest to invest around Rs 25,000 crore in the state. Jointly addressing a press conference regarding the outcome of the visit by a business promotion delegation headed by them to the US, by Large and Medium Industries Minister M B Patil and Electronics & IT/BT Minister Priyank Kharge said some of the companies are already in the process of investing around USD one billion in the state. During the visit that spanned from the east coast to the west coast of the US, a total of 36 interactive meetings were held. "While some companies have planned to commence their operations here some others have proposed to expand their already existing operations. Our discussions primarily focussed on semiconductors, aerospace and defence, electric vehicles, space, and precision manufacturing," Patil said. Discussions were held with leading companies like Applied Materials, AMD, Juniper, Global Foundries, LAM ...

After quiet quitting & quiet firing, are companies now quiet cutting?

Quiet cutting is a move by companies where they remove positions but do not fire any employees

Honeywell launches new AGL manufacturing facility in India's Gurugram

AGL, a product engineered and manufactured completely in India, plays a crucial role in airport operations