Latest news with #GnaneshwarRajan
Yahoo
07-05-2025
- Business
- Yahoo
Google cuts about 200 staff in global business unit, The Information reports
FILE PHOTO: FILE PHOTO: People walk next to a Google logo during a trade fair in Hannover Messe (Reuters) -Google on Tuesday cut about 200 jobs across its global business unit, which is responsible for sales and partnerships, The Information reported on Wednesday, citing a person with knowledge of the situation. Big Tech players have been redirecting spending towards data centers and AI development, while scaling back investments in other areas. The company told Reuters in a statement that it was making a small number of changes across teams "to drive greater collaboration and expand our ability to quickly and effectively serve our customers." The Information reported last month that Google had laid off hundreds of employees in its platforms and devices unit, which houses the Android platform, Pixel phones and the Chrome browser among other applications. In January 2023, Google-parent Alphabet announced plans to cut 12,000 jobs, or 6% of its global workforce. It had 183,323 employees as of December 31, 2024, according to a filing in February. Among other major job cuts, Facebook-parent Meta laid off about 5% of its "lowest performers" in January, while pushing ahead with the expedited hiring of machine learning engineers. Microsoft also trimmed 650 jobs in its Xbox unit in September. Amazon laid off employees in several units, including communications, while Apple eliminated about 100 roles in its digital services group last year, according to media reports. (Reporting by Kanjyik Ghosh and Gnaneshwar Rajan in Bengaluru; Editing by Anil D'Silva)
Reuters
12-04-2025
- Climate
- Reuters
Magnitude 5 earthquake strikes Pakistan, EMSC says
April 12 (Reuters) - An earthquake of magnitude 5 struck Pakistan on Saturday, the European Mediterranean Seismological Centre (EMSC) said. The quake was at a depth of 39 km (24 miles), EMSC said. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Gnaneshwar Rajan in Bengaluru; Editing by William Mallard
Reuters
12-04-2025
- Climate
- Reuters
Magnitude 5.95 earthquake strikes Papua New Guinea's New Britain region, GFZ says
April 12 (Reuters) - An earthquake of magnitude 5.95 struck the New Britain Region in Papua New Guinea on Saturday, the German Research Centre for Geosciences (GFZ) said. The quake was at a depth of 10 km (6.2 miles), GFZ said. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Gnaneshwar Rajan in Bengaluru; Editing by William Mallard
Zawya
04-04-2025
- Business
- Zawya
Brookfield to buy Colonial Pipeline for about $9bln, including debt
Brookfield Infrastructure Partners is buying Colonial Pipeline, the largest U.S. fuel transportation system, in a deal valued at about $9 billion, including debt, the company said on Thursday. The deal to acquire all assets of Colonial Enterprises, including Colonial Pipeline, is expected to close in the second half of 2025. Colonial's pipeline system stretches over 5,500 miles from Houston in Texas to New York's harbor. It moves 100 million gallons of fuel daily, including gasoline, jet fuel, diesel and heating oil, according to its website. The flagship listed infrastructure company of Brookfield Asset Management will have an equity investment of $500 million in Colonial Enterprises at the deal's closing. Shell said late on Thursday it was selling its interest in Colonial Enterprises to Colossus AcquireCo, a Brookfield subsidiary, for $1.45 billion. Colonial's owners - including Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), Shell, and investment firm KKR - had begun exploring a sale of Colonial Pipeline last year. CDPQ bought its stake in Colonial for $850 million in 2012 from ConocoPhillips. IFM Investors and KKR acquired their respective 15.8% and 23.4% holdings in 2007 and 2010. Shell consolidated its 16.13% into a single holding in 2019, while a subsidiary of Koch Industries has held its current 28.1% position since 2003. Reuters reported earlier this week that Brookfield emerged as the winner of an auction process, which the five owners of the pipeline have been running over several months, to buy Colonial Pipeline for more than $9 billion including debt. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
Yahoo
15-02-2025
- Business
- Yahoo
Uber accuses DoorDash of anticompetitive practices in lawsuit
By Gnaneshwar Rajan (Reuters) - Uber Technologies has filed a lawsuit against DoorDash, accusing the online delivery firm of anticompetitive practices, leading to higher costs for both restaurants and customers. In a filing in California Superior Court in San Francisco on Friday, Uber accused DoorDash of coercing restaurants into using DoorDash as their exclusive or sole preferred provider for delivery. "DoorDash's underhanded tactics have cost Uber millions of dollars in revenue and unlawfully restricted its ability to grow Uber Direct, the Uber Eats platform for first-party delivery," Uber said in the lawsuit, first reported by the Wall Street Journal late Friday. "Uber's case has no merit. Their claims are unfounded and based on their inability to offer merchants, consumers, or couriers a quality alternative," a DoorDash spokesperson said in an emailed statement to Reuters. Uber did not immediately respond to a Reuters' request for comment. Sign in to access your portfolio
