Tata Sons will raise $500 million in offshore borrowings, backed by Bank of America, SMBC of Japan and Standard Chartered Bank as the company rolls over debt used to fund Tata Teleservices several years ago, reported The Economic Times on Thursday, quoting people familiar with the matter.

The loan deal, the tenure of which is likely to be five years, is expected to be finalished in the coming weeks. It will likely be priced 110-120 basis points above the Secured Overnight Financing Rate (SOFR), reported ET.

YES Bank will wipe out Rs 48,000 crore worth of non-performing assets (NPAs) by December. The private lender had earlier agreed to sell its bad loans to an asset reconstruction company (ARC) floated by JC Flowers. According to a report in Mint, YES Bank will also pick up a 20 per cent stake in the ARC.

JC Flowers ARC had earlier won a Swiss auction to get YES Bank's NPAs for Rs 11,183 crore. It is expected to pay Rs 1,677 crore to the bank in the next 60 days, the Mint report added.

Education technology start-up upGrad said on Thursday it has acquired corporate training solutions firm Centum Learning (Centum) in a share-swap deal.

Entrepreneur Ronnie Screwvala-led upGrad didn’t reveal the value of the transaction for Centum, which is expected to clock revenue of Rs 170 crore ($ 21 million) in Financial Year 2022-23 (FY23).

Vedanta is fully committed to investing in Maharashtra, chairman Anil Agarwal, tweeted on Wednesday, amid a political brouhaha over Gujarat pipping the state to bag a $20-billion investment.

On Tuesday, Vedanta announced that the Vedanta-Foxconn semiconductor plant would be set up in Gujarat.

Shares of Tata Investment Corporation hit a record high of Rs 2,072.15 on the BSE as the stock rallied 6 per cent in Tuesday’s intra-day trade. In the past two weeks, the stock of the Tata Group company has zoomed 29 per cent. In the last one month, it has surged 39 per cent, as compared to 1.8 per cent rise in the S&P BSE Sensex.

Tata Investment Corporation is a non-banking financial company (NBFC) promoted by Tata Sons. The company is registered with the Reserve Bank of India under the category of Investment Company.

According to sources, Tata Group is thought to have started negotiations with Bisleri International to buy a stake in the packaged water company.

Based on a source familiar with the situation, the situation is still very early on, so it would be premature to predict that a deal would materialise.

A massive fire in an e-bike showroom in Hyderabad left seven people dead and several others injured. The fire that broke out in an e-bike showroom, spread to a lodge on the upper floor in Secunderabad, police said. The incident took place on Monday evening.

Hyderabad Police Commissioner CV Anand said that seven deaths were reported. Those injured were shifted to the Gandhi and Yashoda hospitals.

Chief Minister Shivraj Singh Chouhan on Sunday described Prime Minister Narendra Modi as global a leader who has ensured that the world cannot function without India.

“Today, wherever you go in the world, Modi ji has enhanced India’s honour, respect and pride to such a level that the world cannot function without India today. Mr. Modi isn’t just India’s leader, he is a global leader,” said Mr. Chouhan at a seminar in Indore on the recently released book Modi@20: Dreams Meeting Delivery.

US President Joe Biden has announced an ambitious plan to reduce cancer deaths in the United States, which is the second most cause of death in the country after heart disease.

Despite the progress of lives extended, and lives saved, cancer is still the number two cause of death in America, second only to heart disease. For too many cancer patients and their families, instead of hope, there's bewilderment, the feeling of being on your own, Biden said.

A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said on Monday.

The deadline for the shareholder vote on the deal is Tuesday but enough investors had voted by Monday evening for the outcome to be certain, the sources said.

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