GE chief Larry Culp sells biopharma business for $21 billion

Shares of General Electric Co surged 11 percent on Monday after the US industrial conglomerate said it would sell its biopharma business to Danaher Corp for $21 billion, its first major asset sale under new Chief Executive Officer Larry Culp. The deal will provide GE with a much needed cash infusion as the maker of power plants and aircraft engines struggles to pay off billions of dollars of debt and insurance liabilities. GE, once a symbol of American business power and management prowess, has struggled with crisis-era losses linked to…

Read More

5 Things Thomas Kurian Must Do To Transform Google Cloud Business

For Google Cloud, 2019 meant a major change in the leadership. Thomas Kurian, a 22-year old Oracle veteran, is at the helm of the cloud business at Google. He succeeds Diane Green who stepped out after spending three years at the company. Google Cloud HQ in SunnyvaleSOURCE: JANAKIRAM MSV Google Cloud is an umbrella brand for the enterprise productivity suite, cloud infrastructure and platform offerings. According to industry analysts, Google Cloud Platform (GCP) is at a distant 4th place from AWS which is leading the pack. Regarding market share, Microsoft and…

Read More

An inside view of India’s pencil business and the four families that control it

The humble pencil was the simple solution that Three Idiots’ Rancho gave for the complex riddle of how to write in zero gravity. For about six centuries, the pencil has left its indelible mark as an all-weather writing instrument, after the accidental discovery of hard graphite at a nondescript Lake District village in England led to the commercial production of what would become the least inexpensive — yet must-have — item on modern desktops. Perhaps the instrument’s continuity as a stationery item was never in doubt. But when the mobile…

Read More

Business chiefs call for dramatic overhaul of rates to help high street

There’s no end in sight to the challenges faced by UK high street retailers. Photograph: Christopher Thomond/The Guardian Ministers are facing renewed pressure to reform business rates to bolster the UK’s high streets, with calls for a “complete review” from the Conservative mayor of the West Midlands. Andy Street, who ran John Lewis before his election in 2017 as the mayor of the UK’s second-biggest urban economy, said the current system of business rates on commercial properties was no longer representative of modern Britain. Speaking at a conference in London, he said:…

Read More

Why Business Leaders Are So Pessimistic About Growth In 2019

In PwC’s annual CEO survey, released today, 436 percent more CEOs said they expect global economic growth to ‘decline’ this year more than last. Twenty-nine percent of CEOs of companies around the world expect a decline in the global economy in 2019 versus just five percent last year. Another study, released yesterday, found just over one in 10 FTSE 350 company secretaries believed global economic conditions will improve over the next 12 months. When the Boardroom Bellwether survey – conducted twice a year by ICSA, a U.K. governance body, and the Financial Times – was conducted in August, that figure was…

Read More

Business Top 5: Corporate governance issue continues to drag Sun Pharma stocks down; Wipro announces 1:3 bonus

Sun Pharma stock down 13.7 per cent in the last 2 days over fresh whistle-blower complaint losing almost Rs 14,000 cr in m-cap going to its lowest point in almost six years. Wipro’s board announced a bonus of 1:3 alongwith an interim dividend of Re 1/share.  |  Photo Credit: Thinkstock 1. Sun Pharma – Corporate governance concerns continues to ail stock Stock down 13.7 per cent in the last 2 days over fresh whistle-blower complaint losing almost Rs 14,000 cr in m-cap going to its lowest point in almost six years. A…

Read More

Automatad founder Vijay built a Rs 25 crore business with less than Rs 12 lakh in his pocket

Automatad founder Vijay Ram Kumar and his team have pivoted to build a programmatic ad-engine to help content publishing websites host ads to make money. Technology that is ahead of its time is often the key to success; it is also a recipe for failure – something Vijay Ram Kumar learnt in his entrepreneurial journey. Vijay started up in Bengaluru in 2012 in digital advertising. His idea was to tag user-generated content with ecommerce websites, helping content publishers earn money. The idea was a win-win. Content publishing websites made money…

Read More

Expect heads to roll at Nissan over Ghosn scandal

Chesnot | Getty Images News | Getty Images Carlos Ghosn, Renault-Nissan CEO. It is shaping up to be a bad year for Nissan. The arrest of auto industry titan Carlos Ghosn in Tokyo last month was believed by some to be a palace coup designed to remove him from power at Japanese automaker Nissan, just one of the companies Ghosn had a hand in running. Now it’s looking like a big problem for Nissan as well. Ghosn was indicted Monday on allegations of underreporting income and misusing company funds, but…

Read More

Cramer’s lightning round: There are better drug stocks to own than GlaxoSmithKline

GlaxoSmithKline PLC: “We don’t care where a stock’s been, we care where it’s going, but it is at $37. It’s got a 5 percent yield. [CEO] Emma Walmsley is supposed to be doing a good job. I have not seen what I’d like to see from that company. As far as I’m concerned, there are much better drug stocks to own than Glaxo.” SiteOne Landscape Supply Inc.: “No. You don’t want to be there because people don’t like housing right now and it’s going to be affiliated with the housing…

Read More

Huawei arrest just made companies like Apple less valuable, Jim Cramer says

Huawei arrest made companies, including Apple, less valuable: Cramer   10 Hours Ago | 01:13 U.S.-based technology companies with business in China automatically lost value on news of the arrest of Huawei CFO Meng Wanzhou, who has reportedly been accused of violating U.S. sanctions, CNBC’s Jim Cramer said Thursday. The arrest, which occurred in Canada on Saturday and was announced Wednesday, “means any tech company that does a huge amount of business in China, including Apple or Micron or Intel or Skyworks or Qualcomm or Broadcom, is worth a little less…

Read More