Thu, Aug 06, 2020
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Virgin Atlantic US applies for bankruptcy cover to survive
Published On: Aug, 05, 202011:34 PM
Virgin Atlantic, the airline founded by British businessman Richard Branson, filed Tuesday for protection in US bankruptcy court as it tries to survive the virus pandemic that is hammering the airline...
The airline made the Chapter 15 filing in US federal bankruptcy court in New York after a proceeding in the UK. A spokeswoman for Virgin Atlantic said the bankruptcy filing is part of a court process in the UK to carry out a restructuring plan that the airline announced last month. The process is supported by a majority of the airline’s creditors, and the company hopes to emerge from the process in September, she said. A Virgin Atlantic lawyer said in a court filing the company needs an order from a US court to make terms of the restructuring apply in the US. The airline is primarily a longhaul operator, including flights between the UK and the US It stopped flying in April due to the pandemic and only resumed flights in July. It closed a base at London’s Gatwick Airport and cut about 3,500 jobs. Branson appealed to the British... -
Reliance 2nd biggest brand after Apple
Published On: Aug, 05, 202011:34 PMBillionaire Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries has been ranked the second biggest brand after Apple on the FutureBrand Index 2020.
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Ajay Tyagi to be SEBI Chief till Feb 2022
Published On: Aug, 05, 202011:34 PM
The Centre has extended the term of Ajay Tyagi as the Chairman of the Securities and Exchange Board of India (SEBI) by 18 months till February 2022.
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‘Mistry trying to gain legal mileage’
Published On: Aug, 05, 202011:34 PM
Hitting back on Cyrus Mistry’s allegations, Ratan Tata, Chairman Emeritus of Tata Sons, has said Mistry has created a smokescreen of oppression and mismanagement.
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Railways changes freight policy to boost economy
Published On: Aug, 05, 202007:52 PM
The official said that to boost the freight traffic, the railways has decided to give 50 per cent concession in terminal access charge on container traffic handled at Group-III Container Rail...
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Airtel ties up with AWS for cloud services
Published On: Aug, 05, 202004:28 PM
Airtel Cloud will build an AWS CloudPractice supported by AWS Professional Services, as well as develop differentiated cloud products and capabilities leveraging AWS services, Airtel's data center...
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Virgin Atlantic Airways seeks US bankruptcy protection
Published On: Aug, 05, 202002:53 PM
Virgin Atlantic Airways Ltd is seeking protection from creditors in the United States under Chapter 15 of the US Bankruptcy Code, which allows a foreign debtor to shield assets in this country,...
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Uber starts hiring again, to recruit 140 engineers in India
Published On: Aug, 05, 202002:05 PM
After a wave of layoffs due to Covid-19 disruptions, ride-hailing major Uber on Wednesday said it is recruiting 140 more engineers for its tech teams in Bengaluru and Hyderabad.
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HP expands PC manufacturing in India with Chennai facility
Published On: Aug, 05, 202001:00 PM
In a fillip to ‘Make in India initiative, PC and printer HP Inc on Wednesday said it has started PC manufacturing operations at electronics giant Flexs facility in Sriperumbudur, Tamil Nadu.
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Gold nears Rs 55,000 per 10 gm, silver crosses Rs 70,000 per kg
Published On: Aug, 05, 202012:18 PM
The surge in domestic gold futures continues amid the global economic uncertainty and in tandem with international prices.
