News Corp Share Buyback: News Corp announces $1 billion share buyback plan, ETHRWorld
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News Corp said on Tuesday its board has authorized a $1 billion stock repurchase program, expanding on the Dow Jones owner's existing plan.The total authorization now stands at $1.3 billion as nearly $303 million is remaining under the buyback plan from September 2021.News Corp plans to begin the share repurchase at an accelerated pace after its fourth-quarter financial results in early August, once trading black-out restrictions are lifted.A trading blackout period is a timeframe when company insiders are barred from buying or selling its shares.The new program has no time limit and may be modified, suspended or discontinued at any time, the company said.Last month, News Corp extended CEO Robert Thomson's contract through June 2030. He was appointed as CEO in 2013 and his contract was extended in 2023 until 2027.Under his leadership, the company sold its Australian cable-TV unit Foxtel to British-owned sports network DAZN for A$3.4 billion last year. (Reporting by Jaspreet Singh in Bengaluru; Editing by Arun Koyyur)
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Economic Times
6 minutes ago
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So that is the kind of thing the British may be investing in India. ADVERTISEMENT India is one of the biggest investors in the UK. The Tata Group is the largest single employer in the private sector in the entire United Kingdom. I mean, it has TCS, it has Jaguar, and it has its steel plant out there and those together are a massive amount of investment, a massive amount of jobs. Will that trend increase? Yes, it could increase. But as I said, that is now fundamentally a services economy. It is no longer a large-scale producer of merchandise. So, can Indian companies like TCS which are already well established increase their footprint? Yes, I should think so, especially now that there is this freedom in terms of social security deductions. Earlier, if an IT worker went there, a significant part of his salary was cut saying this is a social security contribution although he would never get it back as a pension in his old age. 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Time of India
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So, I am not sure what will happen out there, but if we have a good deal, if we have a very low tariff regime and they do not, that will clearly give us a benefit in the are a number of issues. As far as investment is concerned, will this help mutual investment? Will this help Indian investment in the UK? Will it help British investment in India? I am not sure to what extent it will boost British investment in India. The reason is that Britain hardly produces many goods anymore. It used to be a large exporter of goods, but it has substantially deindustrialised and become a services sector. So, it will want to do something more on the services sector which we should allow because we are competitive in services, we should allow them to come again, if somebody comes into the services with a GCC, it will not involve very much investment. It will certainly generate revenue. It will help generate skills. It will be skilling of the Indian workforce. 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Earlier, if an IT worker went there, a significant part of his salary was cut saying this is a social security contribution although he would never get it back as a pension in his old age. Now that that is being waived for three years, we will be able to send lots more people for up to three years and this should induce much more Indian investment in the IT sector there.I hope that happens. It looks promising. Of course, the other thing is that will there be more Indian writers for Financial Times and The Economist or more Indian footballers going into the Premier League, some of these areas and of course, there is the stock market. I mean, Britain is a highly financialised market with a huge stock market. It already has a significant number of Indian names that are already well known. I imagine that number could go up. How many of them would retain a close connection with India? I am not sure. But you could hope that a significant number of people go there and they improve their skills, send home remittances , and later on perhaps come back and open businesses here, so that is what we look forward to, something happening two-way and on this frankly I see more scope for Indian investment in the UK than the other way around.
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