Business news

Hefty discounts by e-commerce players likely to attract CCI regulatory probe

The Competition Commission of India while clearing the Walmart-Flipkart deal denounced the heavy discount offered by these companies.

Aug 10, 2018

Rupee predicted to trade at 68.22 per dollar in a year; will hit a major low

The battered rupee will trade in a tight range in the coming year but not far from its historic low, hampered by higher oil prices and as trade tensions hurt emerging markets, a Reuters poll found.

Aug 10, 2018

Walmart-Flipkart deal to fetch Narendra Modi-led govt Rs 13,000 crore in tax?

Walmart executives had a meeting with senior income tax officials and assured them that the company will comply with all the rules and regulations.

Aug 10, 2018

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Jet Airways needs Rs 3,500 crore immediately to keep flying - Report

Jet Airways has debunked rumours of pay cut and job losses but the shares have been on free fall. Meanwhile a new report says the carrier needs a huge cash infusion immediately to stay afloat.

Aug 10, 2018

Over 17,000 jobs at risk as UK's retail giant House of Fraser goes into administration

The fate of 169-year-old House of Fraser, which employs 17,500 people, was sealed when C.banner, a Chinese company, pulled out of a deal to pump in money in the business. Here are four things that went wrong for the retail giant.

Aug 10, 2018

Continental to create 2,000 jobs as India's automobile industry hits the fast lane

The Indian automobile industry is currently the fourth largest in the world with sales increasing 9.5 percent year-on-year. The market trends indicate the upbeat will continue for the next couple of years.

Aug 10, 2018

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State govts get nutritional cushion; Centre to sell pulses at discounted rates through PDS

Pulses like tur, chana, moong, masoor and urad will be sold at a discounted price of Rs 15 per kg over current wholesale prices.

Aug 10, 2018

Jet Airways' Naresh Goyal apologises to shareholders for losses and plummeting shares in glum Q1

Naresh Goyal, the chairman and founder, spoke to the company's shareholders during the annual general meeting and said that he was unhappy as a lot of shareholders had lost their money amid Jet Airways' financial issues.

Aug 10, 2018

Bhushan Steel ex MD Neeraj Singhal arrested for siphoning funds worth Rs 2,000 cr

The investigating team stated that the ex-MD was guilty under Companies Act, 2013.

Aug 10, 2018

New US sanctions hit Russian market; rouble hits two-year low

The Russian currency is on track for its deepest weekly fall since early April when it lost 6.7 percent.

Aug 9, 2018

Sensex crosses 38,000 mark; Nifty50 nears 11,500 at record high

Positive domestic political cues lifted the Indian equity indices to new record highs on Thursday.

Aug 9, 2018

Jet Airways layoffs: After pay cut plans failed to materialise, airline letting go 500 staffers?

Jet Airways is reportedly mulling handing out pink slips to about 500 of its ground personnel. Not just that, the airline may also reportedly reorganise and trim the cabin crew on its Boeing and Airbus fleet and terminate the contract of its senior crew members.

Aug 9, 2018

Walmart's Flipkart acquisition for $16 billion cleared by Competition Commission of India

Bentonville, Arkansas-based Walmart announced in May it was acquiring about 77 percent of Flipkart for roughly $16 billion in the biggest deal for India's e-commerce sector, which Morgan Stanley estimates will grow close to an annual $200 billion in a decade.

Aug 9, 2018

RBI tightens grip on non-compliant NBFCs; cancels 368 licences

The financial stability report made by the Reserve Bank of India stated that the aggregate balance sheet size of the NBFC sector stood at Rs 22.1 trillion as of March 31.

Aug 8, 2018

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Crackdown on black money? Switzerland govt likely to share HSBC bank data with India in 10 days

The Supreme court of Switzerland has ordered the Swiss government to share HSBC account details of Indian citizens for the Indian government to investigate tax fraud and undisclosed foreign investments.

Aug 8, 2018

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