The Securities and Exchange Board of India (Sebi) board on Saturday did not make any changes to existing delisting regulations, citing insufficient data. “Since the number of delisting applications over the five years was small, the data was quite limited to draw significant conclusions. Therefore, the board suggested we go back and gather more data, and undertake further consultations,” said Sebi chairperson Madhabi Puri-Buch, speaking to the press following the board meeting.
Earlier, it was expected that the market regulator would make changes in the delisting regulations because companies and even legal experts have said that the process of delisting is rather complex. And even a small set of investors are able create significant hurdles to the process.
Four firms — Fedbank Financial Services, Indian Renewable Energy Development Agency, EPACK Durable and Suraj Estate Developers — have received capital markets regulator Sebi’s approval to raise funds through initial public offerings (IPO).
These companies, which filed preliminary IPO papers with Sebi between July and September, obtained the watchdog’s observation letters between October 30 and November 10, an update with the regulator showed on Monday. In Sebi’s parlance, its observations mean its nod to float the IPO. Going by the draft papers, the IPO of Fedbank Financial Services Ltd (Fedfina) consists of a fresh issue of equity shares aggregating up to Rs 750 crore and an offer for sale (OFS) of 7.03 crore equity shares by promoter Federal B…
Boeing named a longtime aerospace industry veteran on Wednesday as its next chief executive, who will take over a company that has been rocked by legal, regulatory and production problems.
Robert “Kelly” Ortberg, a former CEO at aerospace supplier Rockwell Collins, will succeed David Calhoun, 67, as CEO and president effective Aug. 8, the company said. Calhoun announced in March that he would retire at the end of the year.
Boeing named its new CEO as it reported a loss of more than $1.4 billion on falling revenue during the second quarter. The loss was wider and revenue lower than Wall Street expected, as both Boeing’s commercial-airplanes business and defense unit lost money.
The disappointing results come at a tumultuous time for Boeing. The company agreed to ple…
Haraldur “Halli” Thorleifsson spent nine tense days unsure whether his job at Twitter had been terminated before he decided to tweet at owner Elon Musk on Monday, asking for an answer. What ensued was a public spat on the platform, during which Musk questioned Thorleifsson’s work ethic and disability, and accused him of seeking a “big payout.” Within a day, Musk was forced to backtrack and issue an apology to Thorleifsson, as it emerged that terminating his employment could be very costly for Twitter.
Thorleifsson joined Twitter when the company acquired his startup in 2021, under the leadership of co-founder and then CEO Jack Dorsey. He was celebrated by the media in Iceland, where he lives, for choosing to receive the purchase price as salary, rathe…
Early in the pandemic, experts projected that the world economy could shrink by almost 10% in 2020. Yet what played out was a contraction of 3.1%—still a huge loss of output, but not nearly as dire. To a large extent, this was due to international cooperation. Countries came together to diagnose the problem: a simultaneous shock to supply and demand. This meant that standard policy responses would not be sufficient. That’s why policy-makers took extra-ordinary fiscal and monetary measures to support businesses and households. Without this coordinated response, we would have faced another Great Depression. And without the global collaboration of scientists and health authorities, we would not have had effective vaccines in record time. When crisis strikes, as it has so often …