Category: Business News

Business News

Godrej Industries, Godrej Consumer, Godrej Agrovet jump 1-5% after family decides to split business empire

byTaufan
Godrej Group stocks including Godrej Industries, Godrej Consumer Products and Godrej Agrovet, gained over 1-5% in early trade on Thursday after the Godrej family reached an agreement to split the conglomerate into two branches.Godrej Industries share price jumped as much as 3% to hit a fresh 52-week high of ₹989.90 apiece on the BSE, while Godrej Consumer Products shares gained 2.8% and Godrej Agrovet share price rallied 5.5%. On the other hand, Godrej Properties share price declined over 4.4% in early trade on May 2. According to the Family Settlement Agreement issued on the stock exchanges by the company,…
Business News

FTX investors to get their money back – plus interest | BusinessNews

byTaufan
People who lost their money in FTX, once one of the biggest cryptocurrency exchanges in the world, are to be paid back, with interest. Billions were lost when the cryptocurrency exchange headed by convicted fraudster Sam Bankman Fried went bust in November 2022, with an estimated one million customers losing funds. Money latest: Struggling iconic tea brand spends £12m on ad But now the company has recovered more than enough to repay those customers and its creditors, it says. Paying people back If plans are approved by a US bankruptcy court, people who held cryptocurrency, such as Bitcoins, with the…
Business News

Mozambique-China rosewood trade: The illicit business fuels an insurgency

byTaufan
Forests with valuable trees – not just rosewood – are divided up into chunks, or concessions. Anyone who wants to log these areas must pay a fee to the authorities. These are typically licensed to a Mozambican national – the middleman – and rented out to Chinese logging firms. Trading sources who did not want to be named estimate that 30% of the timber logged in Cabo Delgado is at high risk of coming from emergency-occupied forests. There are thought to be three main forested areas in Cabo Delgado where logging and timber sales take place: Nairoto; Muidumbe and Mueda,…
Business News

Revolution Bars’ rivals eye bids for struggling chain’s assets | BusinessNews

byTaufan
Some of the leading players in Britain’s night-time economy are looking to cherry-pick assets from Revolution Bars, the London-listed leisure group. Sky News has learned that Nightcap and Rekom, two rival bar and nightclub operators, have expressed an interest in buying part or all of Revolution. A number of private equity firms are also said to have planned to submit offers ahead of a deadline set by advisers to Revolution on Wednesday. The scope of the interest from Nightcap and Rekom was unclear, and it remained possible that one or both would not table formal offers. Revolution Bars announced this…
Business News

Dispute Resolution for Businesses

byTaufan
Big firms expect to extend capital expenditure by 11.5 per cent in the present fiscal 12 months ending in March 2026, up from a three.1 per cent acquire projected in March and above a market forecast for a 10.0 per cent rise. Trump expressed frustration with U.S.-Japan commerce negotiations on Monday, dampening prospects of a near-term deal. Japan’s financial system, which shrank an annualised 0.2 per cent in the first quarter because of weak consumption, is bracing for further ache as U.S. tariffs harm exports. Several new rules will come into effect from July 1, together with extended tax return…