Business news

OYO announces former IndiGo boss Aditya Ghosh as South Asia CEO

The company said he will report to Ritesh Agarwal, founder and Group CEO, OYO Hotels and Homes.

Nov 16, 2018

Tata Sons plans to de-board Air Asia joint venture, focus on Jet Airways

If Air Asia losses Tata Sons as a partner, it would be a tough road ahead for Air Asia in finding a buyer.

Nov 16, 2018

gold biscuits gold bars gold prices india jewellery rally decline gold coins shopping imports stock markets

Gold falls on muted demand; silver steady amid appreciating rupee

Traders said fall in demand from local jewellers as well as retailers largely dragged down gold prices, but a firm trend overseas, capped the fall.

Nov 16, 2018

Bansal exit aftershock: Massive Jabong staff layoff likely after Myntra merger

Aftershocks of Flipkart Group CEO Bansal exit continue to rock the group with more resignations and likely layoff of Jabong staff after Myntra merger.

Nov 16, 2018

BENGALURU, IndiaMicrosoft Chief Executive Officer Satya Nadella and Flipkart Group Chief Executive Officer and co-founder Binny Bansal attend a news conference in Bengaluru, India, February 20, 2017. REUTERS/Abhishek N. Chinnappa

Binny Bansal resignation: Did Walmart use it as a ruse to edge the last of founders out?

Since the beginning of the deliberations of majority sale, Walmart wanted one of the co-founders out of the company which has forced Sachin Bansal to resign from all of his responsibilities from the company

Nov 16, 2018

Information czar's retirement clouds Sebi's prospects in tussle with RBI

Central information commissioner's retirement on November 20 has hit Sebi's prospects of getting bank defaulters' data from RBI in the ongoing tussle.

Nov 16, 2018

India's refined copper consumption to double by 2026: Birla Copper CEO JC Laddha

The nation's consumption of the metal is expected to rise to 1.433 million tonnes by 2026 from 650,000 tonnes in 2018, Birla Copper CEO J.C. Laddha told delegates at the Asia Copper Conference in Shanghai.

Nov 15, 2018

Swiggy eyes raising Rs 2,170 crore by key backers' secondary share sales

Food delivery startup Swiggy is planning to raise Rs 6,500 crore of which Rs 2,179 crore is expected to be from second sales of the shares of key promoters.

Nov 15, 2018

Paytm lets you buy milk and vegetables using your debit/credit cards

Paytm extortion case: Promoters were pressurising Sonia Dhawan to sell her stake, says lawyer

Sonia Dhawan, Paytm CEO Vijay Sharma's personal assistant and later the Vice-President of Corporate Communications, was arrested last month for extorting money from Sharma.

Nov 15, 2018

Merger of Jet Airways and Tata SIA Airlines on cards as talks pick up pace

It is to be noted that an earlier proposal by Jet Airways for a joint ownership with Tata SIA was rejected as the former wanted an exit for the Goyal family.

Nov 15, 2018

Vodafone Idea posts quarterly loss, to raise $3.5 billion

The results included numbers for Idea Cellular up to August 30 and Vodafone Idea from August 31 to September 30 and were not comparable to earlier periods.

Nov 15, 2018

Ashok Leyland stock turmoil seen only in the short term

Ashok Leyland shares fell 10 percent after its CEO's exit and Q2 profits' failure to meet estimates. But analysts feel the turmoil will be for short term.

Nov 15, 2018

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Gold sheds Rs 150, silver holds steady amid weak global cues

Traders said sentiment was downbeat as the precious metals weakened in global market. Also, fading demand from local jewellers as well as retailers at the domestic spot market weighed on the prices.

Nov 14, 2018

IDBI Bank loss widens to Rs 3,602 crore in Q2

Total income of the bank was also down at Rs 6,162.14 crore in the reported quarter as against Rs 8,302.42 crore a year ago, IDBI Bank said in a regulatory filing.

Nov 14, 2018

SpiceJet posts 2nd quarterly loss on higher fuel costs, weak rupee

A combination of rising oil prices, high fuel taxes, a weak rupee, low fares and intense competition have slashed profits in the world's fastest-growing aviation market which is clocking 20 per cent annual passenger growth.

Nov 14, 2018