Business news

IT department sells $216 million of Vedanta shares

Cairn Energy said on Monday it would write down the value of its investment in Vedanta Ltd after Indian tax authorities sold $216 million worth of its shares in the Indian mining company in a dispute over retrospective tax dues.

Jul 10, 2018

E-commerce players all set to lock horns to dominate entertainment content in India

The industry experts argue that the investment in the content generation segment of the e-commerce is being done to take on Amazon India, which is aggressively strengthening its entertainment content with Prime Video.

Jul 9, 2018

Home Ministry raises objection against Industrial and Commercial Bank of China

The development comes days after the RBI gave green signal to the Bank of China to open its inaugural branch in India.

Jul 9, 2018

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ThyssenKrupp CEO Heinrich Hiesinger steps down amid criticism of Tata deal

The ouster of ThyssenKrupp CEO was the fourth by a German established company's CEO in as many months, after the chiefs of Deutsche Bank, Volkswagen and Beiersdorf resigned from their position.

Jul 7, 2018

Cryptocurrency finds a new home with Swiss stock exchange

The Swiss stock exchange has announced plans to roll out a new cryptocurrency exchange as it hails a 'new era for capital markets'.

Jul 6, 2018

Samsung posts over 5% operating profit in Q2 2018

Operating profit came down to 14.8 trillion won (South Korean currency), sales came to 58 trillion won, down 4.92 percent. The company hopes to improve next quarter with the launch of the Note 9, better demand for chips and display.

Jul 6, 2018

Uncertainty lies ahead in Nano's journey; only 1 unit manufactured in June

The Nano car was an ambitious project of Ratan Tata who had an objective of providing a safer and affordable alternative to small families commuting on two wheelers.

Jul 5, 2018

Life Insurance Corporation to invest Rs 26,000 crore in Indian Railways' finance arm

The state-owned insurance group and investment company headquartered in Mumbai is planning to infuse Rs 26,000 crore through bond subscription.

Jul 5, 2018

CBI grills two former RBI deputy governors in loan fraud investigation

Two ex-deputy governors at RBI are facing investigation in the Kingfisher loan case. Separately, the CBI had quizzed former deputy governors Harun Rashid Khan and KC Chakrabarty as part of its probe into the PNB scam and a forgery case filed by the Indian Overseas Bank.

Jul 5, 2018