business

Life Insurance Corporation of India sold 2% stake in TIL LTD bringing down its shareholding from 10.199 per cent to 8.076 per cent. The company sold the stakes in TIL for investment purposes. Now, the holding decreased from 10.199 per cent to 8.076 per cent from December 31, 2021 to March 13, 2023 at an average cost of Rs 157.48.

The British government on Monday said it had facilitated a private sale of the UK arm of the collapsed Silicon Valley Bank to HSBC Holdings Plc's 'ring-fenced subsidiary'. With this deal, the Bank of England would help for 1 pound sterling, or around Rs 99. The deal is not expected to impact HSBC's global balance sheet but will sharpen exposure in its home market, securing 3,000 SVB UK customer's deposit.

Power Grid Corporation of India Limited informed about approved investment for several projects. The decision was taken by the board of Directors of the company in their meeting held on March 6. The Power Grid approved investment for Eastern Region Expansion Scheme-XXIX (Rs 524.04 cr), Transmission system for Kurnool Wind Energy Zone/Solar Energy Zone (Rs. 3546.94 cr) and the disclosure is in terms of Regulation 30 of the SEBI.

Indian-American Neal Mohan will be the new YouTube CEO, confirmed sources on February 17. The developments came after the current CEO Susan Wojcicki announced to step down from his post, after serving as the Chairman for 25 years. Mohan worked with Wojcicki for 15 years and was YouTube's chief product officer in 2015. Now, Susan will work with Sundar Pichai to take on an advisory role across Google and Alphabet 

After the Hindenburg-Adani issue, 50-year-old  Lord Jo Johnson has resigned as the director of Elara Capital, an investment firm linked to Adani Group. At the same time, Johnson has cited a lack of expertise as a reason to quit from the firm. Besides the loss of $100 million, the Adani group is likely to lose investors and is also on the watchlist of the Reserve Bank of India.