Business news

Elon Musk cancels plans to take Tesla private; plan cancelled after board meeting

This decision comes after Musk had tweeted that he wanted to take the company private.

Aug 25, 2018

Infosys hires 4,700 American employees after opening innovation hub in North Carolina

The hub will train, upskill and reskill Infosys and client employees, in the technologies required to help American businesses accelerate their digital transformations.

Aug 23, 2018

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Indian equity markets open high despite quiet Asian market

The markets remained closed on Wednesday on account of Eid-al-Adha celebrations.

Aug 23, 2018

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Indian Oil Corporation to invest Rs 37,000 cr in Tamil Nadu

Indian Oil Corporation will invest Rs 7,112 crore and the IOC group along with Chennai Petroleum Corporation will be investing Rs 37,112 crore in Tamil Nadu

Aug 22, 2018

Black money: Deposits of Indians in tax havens fell 62% in 2017, says report

Money deposited in bank accounts in Luxembourg have come down to $11 million in 2017 from $29 million in 2013. In Jersey, the deposits decreased by 17.6 per cent from $261 million in 2013 to $215 million in 2017.

Aug 22, 2018

India's small to mid-sized renewable energy firms fighting consolidation wave

Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting the sector.

Aug 22, 2018

Lehman Brothers invite ire for party to mark 10th anniversary of global market meltdown

Lehman Brothers, a former financial services firm, has sent an email invitation to the party and addressed it to "Lehman Brothers & Sisters." The reception, complete with cocktails and canapes, is reportedly set to be held in London on September 15. The firm has also planned a reunion in New York and Hong Kong.

Aug 21, 2018

Asset-backed cryptocurrency investment: The inside story

"You have to think of the Blockchain as a new utility. As in, it is a new utility network for moving value and for moving assets" - William Mougayar, author.

Aug 20, 2018

Infosys CFO Ranganath resigns, deputy to step in

Ranganath served as the CFO of Infosys for 18 years

Aug 18, 2018

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Air India pilots threaten to go on strike if flying allowance not paid immediately

The Indian Commercial Pilots' Association said that "the pilots will report to the office for any office duty of their expertise other than flying duties." The pilots are being paid only their basic salary and flying allowance comprises 70 percent of their pay.

Aug 18, 2018

Spiritual guru behind downfall of Fortis' Singh brothers?

Heirs to a business house which was worth billions not that long ago, there has been a dramatic fall in the fortunes of Malvinder and Shivinder Singh in the last six months.

Aug 17, 2018

Rupee recovers marginally after falling to record low

The rupee recovered to 70.23 after it plunged to 70.32-33 -- the lowest ever mark -- against the greenback on the back of an apparent intervention by the Reserve Bank of India (RBI).

Aug 16, 2018

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Lifeline for Jet Airways as Blackstone plans to buy stake in troubled airlines' frequent flyer arm

Jet's cash reserves have dwindled due to rising crude oil prices and intense competition in the Indian market. The airline says it is evaluating all options to meet liquidity requirements and looking at measures to enhance revenue generation and increase cost cutting.

Aug 16, 2018

China lodges complaint with WTO over legalities of US policies

China said that they required the WTO's intervention because the imposition of tariffs and subsidising the renewable energy firms have distorted the global markets.

Aug 15, 2018

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India's wholesale inflation eases to 5.09% amid lower food prices

On a sequential basis, the expenses on primary articles, which constitute 22.62 percent of the Wholesale Price Index's total weightage inched up by 1.73 percent, from an increase of 5.30 percent in June 2018.

Aug 14, 2018

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