Sustainability Financial News

A Scottish dairy is making the audacious bid to sell what it’s calling Britain's most expensive cup of coffee

Zopper has raised $25 million in a fresh round of funding led by Elevation Capital and Dharana Capital, the company said in a note today. While Elevation Capital is an active investor in the Indian fintech ecosystem, Dharana Capital has backed the likes of NoBroker, Urban Company and others. The round also saw participation from existing investor Blume Ventures. Creaegis, Bessemer Venture Partners, and ICICI Venture are the other investors of Zopper. The startup has raised $96 million in total equity infusion till now.

Tata Power, and Asian Development Bank (ADB) on Thursday signed a Memorandum of Understanding (MoU) to evaluate financing for its several strategic projects aimed at enhancing India’s power infrastructure and promoting renewable and clean energy. The MoU outlines the evaluation of financing for several key ongoing projects such as the 966 MW solar-wind hybrid project and pumped hydro storage project and other projects in the pipeline around energy transition, decarbonization, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks managed by Tata Power. The total estimated project cost is approximately $4.25 billion.

Indian School of Business (ISB) has received a CSR gift of Rs 30 crore from the Ramoji Foundation towards aiding infrastructure development at the school’s Hyderabad campus, the institute said in a release on Thursday. The funds received through this gift will support the construction of a state-of-the-art 430-seater auditorium as part of the upcoming Executive Centre. Upon completion, the facility will boost the school’s capacity to host international conferences, research seminars, distinguished lectures, and other academic events. Harish Manwani, Chairperson of the ISB Board, said in a statement: “The largesse of our donors has played an important role in ISB's ability to stay true to its vision of being a world-class institution for learning and research. We are grateful for this contribution from Ramoji Foundation that will go a long way in sustaining the top-notch infrastructure that enables ISB in this endeavour.”

BEML on Thursday said it has secured an order worth Rs 246.78 crore from Central Coalfields Ltd (CCL) for the supply of rear dump trucks which are used in mining operations. As part of the order, BEML said it will supply 48 BH60M rear dump trucks, along with spares, and also provide after-sales service support. «BEML has secured a substantial order worth Rs 246.78 crore from Central Coalfields Limited (CCL),» it said. The trucks have been developed in-house with features like a 360-degree rear camera for comprehensive visibility and improved safety, an automatic fire suppression system for emergency preparedness, and an auto lube system to ensure seamless maintenance, BEML said in a statement.

Hyundai Motor India Ltd (HMIL) on Thursday said it will set up two renewable energy plants at its vehicle manufacturing unit in Tamil Nadu as part of the company's move to transition to 100 per cent renewable electricity across manufacturing operations by 2025. The company has signed a power purchase and shareholder agreement with Fourth Partner Energy Ltd (FPEL) for the purpose of setting up of a 75 MW solar plant and a 43 MW wind power plant to cater to its renewable energy requirements, Hyundai Motor India Ltd (HMIL) said in a statement. These facilities will operate under a group captive mode with a special purpose vehicle (SPV) formed for engineering, procurement, construction, operations and maintenance. HMIL will hold 26 per cent and FPEL will hold 74 per cent equity stake in the project, it added. This long-term agreement will ensure a 25-year supply of renewable energy to HMIL, the company said.

Subscribe to enjoy similar stories. With the incoming Trump administration’s new Department of Government Efficiency under Elon Musk and Vivek Ramaswamy in the US, the issue of government efficacy is in focus. India has been steadily leading its own quiet revolution through rigorous process reforms, systematically streamlining governance and dismantling bureaucratic red tape.

API Holdings Limited, recorded a revenue of Rs 5,664 crore in FY24, a decline of 14.7% compared to Rs 6,644 crore in FY23. The Mumbai-based company reported a net loss of Rs 2,533 crore, an improvement from the Rs 5,212 crore loss in FY23, driven by a reduction in goodwill impairment charges to Rs 582 crore from Rs 2,826 crore in FY23. Sales of medicines (goods) for FY24 were Rs 5,008 crore, while revenue from lab tests and other services stood at Rs 652 crore. PharmEasy published these numbers on its website.

The death of a two-year-old gorilla at the Calgary Zoo on Nov. 12 was caused by human error, according to zoo officials.

Subscribe to enjoy similar stories. BENGALURU : Enterprise e-commerce unicorn Moglix has acquired Uttarakhand-based Khatema Fibres Ltd, a manufacturer of eco-friendly paper products, for approximately ₹80 crore, as part of its strategy to bolster its sustainable packaging portfolio and cement its leadership in the industrial procurement space. The deal, announced by Moglix founder and CEO Rahul Garg, adds a suite of specialty packaging products—including high-strength kraft paper, food-grade packaging solutions, and machine-glazed papers—to its offerings.

tariff increases and seek to avoid labor-related disruptions at alternate ports. “The Port of Los Angeles handled a robust 905,000 container units in October,” Executive Director Gene Seroka told reporters on Wednesday. That’s a 25% gain over last year and is the first time the port handled more than 900,000 containers for four months in a row. “Los Angeles processed more cargo between July and October than we did during our peak year in 2021 or our second-best year in 2022,” Seroka said.

Federal water officials have made public what they call “necessary steps” for the seven states and multiple tribes that rely on the Colorado River to meet an August 2026 deadline for deciding how to manage the waterway in the future

Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme, U.S. prosecutors said on Wednesday. Authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2 billion of profit over 20 years. According to an indictment, some conspirators referred privately to Gautam Adami with the code names «Numero uno» and «the big man,» while Sagar Adani allegedly used his cellphone to track specifics about the bribes. Prosecutors also said the Adanis and another executive at Adani Green Energy, Vneet Jaain, raised more than $3 billion in loans and bonds for that company by concealing the corruption from lenders and investors.

Jungle Ventures. At $1.2 million, the median funding raised by these companies is three times the overall median of $0.4 million, it said. These founders are raising significantly more funds than those by first-time entrepreneurs, and their businesses are largely concentrated on the top-ten funded sectors, such as fintech, retail, enterprise and healthtech, said the report, titled ‘The First Cheque Report 2024’. «Despite whatever has happened as first-time founders, these people are coming back and starting a second startup. These second-time founders are still pursuing their ventures instead of going back to corporate jobs and are raising money,” Jungle Ventures founding partner Amit Anand said.

One of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in India by concealing that it was being facilitated by an alleged bribery scheme

Former prime minister Stephen Harper has been appointed chair of Alberta Investment Management Corp., a move that has been widely anticipated since the province fired AIMCo’s board of directors and relieved chief executive Evan Siddall of his duties less than two weeks ago.

The Alberta government has appointed former prime minister Stephen Harper as the new chair of AIMCo, less than two weeks after ousting the fund’s board of directors and its chief executive.

Insolvency and Bankruptcy Board of India (IBBI) has proposed amendments to the Insolvency Resolution Process for Corporate Persons Regulations, 2016 and to make it mandatory to form monitoring committees to oversee implementation of resolution plans under the bankruptcy code. While the current framework under Regulation 38 of the CIRP Regulations provides certain basic recognition to monitoring committees, the proposed amendments aim to make their constitution mandatory for implementation of all resolution plans, the bankruptcy regulator said in a discussion paper. The proposed framework will empower the Committee of Creditors (CoC) to take final decisions on the constitution, composition, and functioning period of the monitoring committee, as part of the resolution plan.

RPG Enterprises is scouting for strategic M&A opportunities to drive growth across group companies including Ceat, KEC International, RPG Life Sciences and Zensar Technologies, Anant Goenka, vice chairman of the $4.8-billion diversified conglomerate, told ET's Rica Bhattacharyya and George Smith Alexander in an interview. The RPG scion also talked about plans to double the group's market capitalisation in 3-5 years, grow Zensar into a $1-billion company, expand Ceat's global business, and strengthen KEC's position by executing premium and challenging infrastructure projects. Edited excerpts: It's been over a year since you took charge as vice chairman. What is your plan for the group? At a group level, we set forth a vision for ourselves some time back, which was more of values in terms of what we call as «unleash talent», «touch lives», «outperform» and «be happy». Recently we converted these mottos to define what they mean. So, 'touch lives' is about having an impact on the lives of customers and being number one in customer satisfaction. Whichever industry we are in, we should be in the top 10% of sustainable practices. By 'unleash talent' we're talking about being number one in terms of employee happiness. 'Outperform' is about beating industry in whichever businesses we run.

Delhi High Court on Wednesday stayed trial court proceedings against former Union minister P Chidambaram in a money laundering case connected to the Aircel-Maxis deal. Issuing notice to the Enforcement Directorate (ED) on Chidambaram's plea, the court ordered that the proceedings against Chidambaram shall remain till the next date of hearing. Chidambaram petitioned the HC challenging the trial court order taking cognisance of the complaint moved by the ED against him and his son Karti Chidambaram in the Aircel-Maxis case.

Tens of thousands of British Columbians were without power on Wednesday after a bomb cyclone brought strong winds overnight.