Business

Shares of Vodafone's India arm in free-fall

Shares in telecoms giant Vodafone's debt-ridden Indian unit fell sharply for a second day Wednesday following reports that its billionaire chairman thought the firm was on the brink of collapse and wanted to sell his stake.

Security

Saudi Aramco facing $50M cyber extortion over leaked data

Saudi Arabia's state oil giant acknowledged Wednesday that leaked data from the company—files now apparently being used in a cyber-extortion attempt involving a $50 million ransom demand—likely came from one of its contractors.

Business

Woes deepen at Vodafone's India unit

Woes are deepening for Vodafone's India unit as it seeks more time to pay mobile network fees levied by the government, with creditor banks reportedly pleading with New Delhi to cut the firm some slack.

GM now says it will support union at new battery factories

General Motors now says it will support efforts by the United Auto Workers union to organize employees at two U.S. electric vehicle battery factories that it's building in Ohio and Tennessee with a joint-venture partner.

Automotive

Stellantis, Foxconn team up to make cars more connected

Carmaker Stellantis and Taiwan's Foxconn on Tuesday announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications ...

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Joint venture

A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. The venture can be for one specific project only, or a continuing business relationship such as the Fuji Xerox joint venture. This is in contrast to a strategic alliance, which involves no equity stake by the participants, and is a much less rigid arrangement.

The phrase generally refers to the purpose of the entity and not to a type of entity. Therefore, a joint venture may be a corporation, limited liability company, partnership or other legal structure, depending on a number of considerations such as tax and tort liability.

This text uses material from Wikipedia, licensed under CC BY-SA