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Jushi Holdings, a Florida-based cannabis and hemp operator, said it has closed its previously announced deal to acquire the entire equity of Pennsylvania Medical Solutions, LLC or PAMS, a Pennsylvania grower-processor previously owned by Vireo Health International, Inc. Upon closing, Jushi paid Vireo $16.3 million in cash, a $3.8 million seller note, and assumed a $17 million facility associated with […]
Read moreBlackstone Group, Inc. (BX) said Wednesday that private equity funds managed by the investment firm have agreed to acquire Ancestry from Silver Lake, GIC, Spectrum Equity, Permira, and other equityholders for a total enterprise value of $4.7 billion. Ancestry is an online family history business. GIC, a current Ancestry investor, will continue to own a significant minority stake in the […]
Read moreContraction quickens on muted demand amid prolonged closures, survey shows India’s manufacturing sector activity contracted at a slightly faster pace in July as demand conditions remained subdued amid prolonged closures, following which firms reduced both staff numbers as well as purchasing activity, a monthly survey showed on Monday. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) […]
Read moreIndian Oil Corporation (IOC) reported a decline of almost 47% in standalone net profit to ₹1,911 crore for the first quarter ended June 30, 2020. Revenue from operations plunged about 41% to ₹88,937 crore. IOC said its board had approved the implementation of an Integrated Para-Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Odisha, at an estimated […]
Read moreCV, PV sales plunge; JLR no exception Tata Motors said consolidated first-quarter net loss increased to ₹8,438 crore from ₹3,698 crore in the year-earlier period as the COVID-19-related lockdown severely impacted sales. Revenue declined almost 48% to ₹31,482 crore. Revenue of Tata Motors’ domestic business declined 80% to ₹2,687 crore. Commercial vehicle sales plunged 97% and passenger vehicles, 55%. Jaguar […]
Read moreTrump: We ended the war on American energy President Trump delivers remarks on restoring America’s energy dominance, saying America will never cease to be a leader in protecting our natural environment. This spring as the nation’s economy shut down because of the coronavirus pandemic, energy consumption in America plummeted to its lowest level in more than 30 years, federal officials […]
Read moreThe Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth ₹ 150 crore and above, also said of the 1,692 such projects, 552 projects time escalation As many as 401 infrastructure projects, each worth ₹150 crore or more, have been hit by cost overruns of over ₹4.02 lakh crore owing to delays and other reasons, according to a […]
Read morePassenger vehicle (PV) sales were at 1,53,734 units in April-June 2020 as compared to 7,12,684 units in April-June 2019. Declining for the ninth straight quarter, passenger vehicle sales in India plunged 78.43% in the April-June period this year hit by the coronavirus pandemic, making it the longest slowdown in 20 years, auto industry body SIAM said on Tuesday. The commercial […]
Read moreThe bank on Monday initiated a probe on the lending practices following allegations against the conduct of a key executive in the auto-lending business. Private sector lender HDFC Bank on Tuesday said the probe on vehicle-finance lending practices does not have any bearing on loan book and will not cause any loss to the bank. “It is… important to clarify […]
Read moreWorld will come out changed in some important ways: Rishad Premji ‘Profitable growth’ will be the priority for Wipro, going forward, said the company’s new CEO Thierry Delaporte. Mr. Delaporte, who took charge last week, spelt out his priority for the company at the AGM on Monday. Mr. Delaporte said, “Profitable growth will be the most important priority on my […]
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