Uday Sampath Kumar
Stories by Uday Sampath Kumar
Amazon layoffs to increase to over 18,000, says CEO
The layoff decisions will largely impact the company's e-commerce and HR organisations.
Yum Brands close to selling KFC business in Russia
The company has about 1,000 outlets in the country.
Elon Musk offers to buy Twitter for $41b in cash
Musk's price of $54.20 per share is a 38% premium to Twitter's April 1 close.
Battered Luckin Coffee emerges from bankruptcy proceedings
Luckin almost collapsed in 2020 after findings that about $337.31 million in 2019 sales was fabricated.
US SEC approves Nasdaq proposal to allow firms to raise capital via direct listings
The move is a big breakthrough for the exchange operator that has been pushing for an alternative for companies to raise money.
China’s Luckin Coffee gets $240m investment from two shareholders
Centurium Capital will lead the investment in exchange for preferred shares, while Joy Capital will also participate.
Silver Lake Partners in talks to invest $1b in Reliance Retail: Report
The investment is expected to value Reliance Retail at about $57 billion.
Juul to slash workforce, explore exiting some markets
Juul Labs is exploring options to pull out of some European and Asia-Pacific markets.
Kimberly-Clark to buy Indonesian diaper maker Softex for $1.2b
The company makes Cottonelle toilet paper, Kleenex facial tissue, as well as Huggies diapers.
Luckin Coffee co-founder Lu holds on to chairman role
A proposal to oust him, stemming from an internal fraud investigation, failed to get board approval.