Sony Financial News

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Electronic Arts is cutting about 5% of its workforce, or approximately 670 employees, as layoffs in the technology and gaming sector continue after a surge of hiring in recent years

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Electronic Arts will reduce 5% of its workforce as part of a restructuring plan that also includes a reduction in real estate, the company said on Wednesday, as the video game industry struggles to grow amid high interest rates. The company, which makes gaming titles such as «Star Wars Jedi: Survivor», expects to incur about $125 million to $165 million in charges related to the move.

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Realme confirmed via a post on X on Wednesday that the latest mid-range smartphone from the company will come with a 120Hz AMOLED panel which will come with the latest Rainwater Smart Touch feature which will help users take advantage of their smartphone even with wet or dry hands. Notably, OnePlus had also launched a similar Aqua Touch feature with its latest OnePlus 12 series.

₹165 levels. Zee Entertainment Enterprises latest efforts to tackle the market turmoil through formation of independent advisory committee and thereafter changing the nomenclature to “An independent investigation committee" seem to have not helped lift investor confidence.

PlayStation unit and shut down a London-based studio, Reuters reported. The decision comes in response to the ongoing challenges faced by the videogame industry in the aftermath of the post-pandemic slump, it added. The job cuts will affect around 8 percent of the division's workforce spanning regions from the Americas to Asia.

Sony will cut about 900 jobs in its PlayStation division, or about 8% of its global workforce, becoming the latest company in the technology and gaming sector to announce layoffs

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Sony Group Corp. dodged a bullet when its lawyers nixed a $10 billion Indian merger that executives had spent two years trying to bring to fruition. The spurned target hasn’t been as lucky. Zee Entertainment Enterprises Ltd. has no other suitors on the horizon, and its founders’ mounting legal troubles are threatening to engulf the firm. To foreign investors, the Sony-Zee saga is a reminder of the need to approach Indian deals with an abundance of caution. In 2008, Daiichi Sankyo Co. shelled out $4.6 billion to buy Ranbaxy Laboratories Ltd., a generic drugmaker, from New Delhi-based brothers Malvinder Singh and Shivinder Singh. Shortly after, US regulators barred more than 30 drugs made at two of the Indian company's plants and halted reviews of new products at one of the factories because the firm had falsified data. Daiichi got pulled into a rabbit hole to win an arbitration award against the brothers for suppressing facts, and then to get it enforced. Sixteen years later, governance at many Indian family-controlled firms isn’t any better. The market watchdog, which is investigating Zee’s founder Subhash Chandra and his son Punit Goenka, the chief executive officer, for siphoning funds from the publicly traded firm, has found a 20 billion rupee ($241 million) diversion, roughly 10 times bigger than what was revealed to a preliminary probe.

₹10 crore from investors and spent the entire amount primarily on marketing. Reacting to Namita’s comments, in the video post Jeevika alleges that Sony on which Shark Tank is broadcasted has edited some part of the episode themed “Is this financial indiscipline". Jeevika claims the edited part of the episode was about startup’s spendings on inventory, business operations, and manpower cost.

MUMBAI , NEW DELHI : Culver Max Entertainment (earlier Sony Pictures Networks India) and regional broadcaster Sun TV Networks have begun initial discussions to purchase a strategic stake in Arha Media & Broadcasting, which runs the South Indian video streaming platform aha. Arha Media, a joint venture between Geetha Arts and My Home Group, has roped in KPMG Corporate Finance as a strategic adviser, said three people familiar with the development.

Chip giant Taiwan Semiconductor Manufacturing Co. has opened in an official ceremony its first semiconductor plant in Japan as part of its ongoing global expansion

Corporate Affairs (MCA), which is investigating Zee Entertainment Enterprises Ltd (ZEEL) over alleged corporate governance violations, has written to the Securities and Exchange Board of India (Sebi) seeking details on its latest findings on fund diversion that have been cited in media reports, said people aware of the matter. The ministry's preliminary probe had found appropriation of ZEEL's fixed deposits (FDs) by Yes Bank, for squaring off loans of related entities of Essel Group. ZEEL is part of the Essel Group promoted by Subhash Chandra and his family. Since 2019, both the MCA and Sebi have been investigating the group over allegations levelled by independent directors. While the MCA is probing allegations pertaining to violations under the Companies Act, 2013, Sebi is investigating accusations of capital market breaches. Their probes had found that FDs of Rs 200 crore were appropriated by Yes Bank for settling loans of related parties of Essel Group.

By Aditya Soni and Patturaja Murugaboopathy

NEW DELHI : ZEE Entertainment Enterprises Ltd is establishing an advisory committee to help it protect the interests of stakeholders amid what it said were misinformation and rumours resulting in negative public opinion about the company. “The board has approved to constitute an independent advisory committee that will enable it to review and take cognizance of the widespread circulation of misinformation, market rumours, and speculation that has led to the formation of negative public opinion about the company and consequent erosion of investor wealth," the company said in a statement on Friday. The committee will be presided by Satish Chandra, a former judge of the Allahabad High Court, and will comprise two independent directors of the company, Uttam Prakash Agarwal and P.

Zee Entertainment Enterprises Ltd on Friday announced the formation of a three-member independent advisory committee aimed at reinstating shareholders' trust. The committee will be chaired by Dr. Satish Chandra, a retired judge from the Allahabad High Court.

In a significant ruling on February 15, the Supreme Court scrapped the Electoral Bonds scheme. A five-judge bench comprising Chief Justice of India, DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra delivered a unanimous verdict.

«The employer deducts TDS on salary at the employee's 'average rate' of income tax. This is because TDS on salary is not deducted at a flat rate,» says Abhishek Soni, co-founder, Tax2Win, a tax filing assistance platform. Here's how this TDS deduction works and how it can impact your monthly income.

net profit at Rs 227 crore for the fiscal ended March 2023. The company had recorded a net profit of Rs 204 crore in the previous fiscal. According to the company's financial data sourced by Tofler, operating revenue increased 26% to Rs 745 crore, with 64% of the revenue coming from outside India.