Business news

Videocon dirty loan: Why did ICICI Bank take so long to launch probe into CEO Chanda Kochhar?

ICICI Bank and CEO Chanda Kochhar have been battling allegations of conflict of interest over loans given to Videocon. The bank had so far defended Kochhar, saying internal investigations had found no proof for any wrongdoing by her.

May 30, 2018

Fashion shopping can become cheaper as e-retailers push for private label brands

Nearly 500 million Indians use internet, making the country a lucrative market for e-retailers. Flipkart, a homegrown e-commerce website, and Amazon are offering huge discounts to lure customers.

May 30, 2018

Thoothukudi firing: Police ignored rules, gave no warning before shooting protesters, say eyewitnesses

The deadly protests saw 13 people being killed in police firing. India's government funded National Human Rights Commission has said it will send a team of investigators to Thoothukudi to carry out its own probe.

May 30, 2018

Maruti Suzuki brand value surges, breaks into list of global top 10 auto brands

Maruti Suzuki is the largest carmaker in India with nearly 50 percent market share. The Indo-Japanese company has been ranked ninth according to the global brand value auto list by BrandZ.

May 30, 2018

AirAsia India denies 'wrong-doing' as CBI probes Group CEO

AirAsia (India) is a joint venture between Tata Sons and AirAsia Berhad, with AirAsia Investment. It started operations in 2014 and currently flies to 20 destinations across India.

May 30, 2018

Vedanta prepares legal challenge to India copper plant closure - report

Sterlite Copper has been shut since late March for maintenance and pending a renewal of its licence. A recent protest at the plant led to 13 people being killed in police firing.

May 30, 2018

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Crude prices edge down but these five factors will determine future course

Researchers say oil prices could average at $70-72 per barrel this year. However, they add that significant external factors can still add volatility to the oil market. They have put down the following oil market triggers that need to be watched.

May 29, 2018

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Mahindra & Mahindra fourth-quarter profit jumps 70 percent

Standalone profit after tax, which does not include share of profit from its unit Mahindra Vehicle Manufacturers Ltd, stood at 10.59 billion rupees ($155.90 million) for the quarter ended March 31, compared with 6.22 billion rupees a year earlier.

May 29, 2018

ED attaches Rotomac properties worth Rs 177 cr

The Enforcement Directorate and the CBI had filed a case in February after the Bank of Baroda filed a complaint against Kothari, his wife Sadhana, his son Rahul and some unidentified bank officials and private persons.

May 29, 2018

Deepening Italian crisis batters European markets

The euro dropped below the $1.16 line for the first time in 6-1/2 months, down 0.3 percent on the day. Against the Swiss franc, it fell by a similar margin at 1.1528 francs.

May 29, 2018

Turbulence hits Air India as staffer accuses senior management of sexual harassment

The employee of Air India, the national carrier, has accused its senior management of sexual harassment and also said its internal committee set up to look into such issues is a "farce." Civil aviation minister Suresh Prabhu has now asked the company to immediately address the issue.

May 29, 2018

Tamil Nadu closes Vedanta copper smelter permanently after bloody protest

Vedanta has called the closure an "unfortunate development". At least 13 people were killed and several injured during the anti-Sterlite protests on May 22.

May 29, 2018

Oil prices fall as Russia, US look to boost supplies

The Organization of the Petroleum Exporting Countries (OPEC), as well as other non- Opec countries started reducing supplies last year to boost oil prices, which in 2016 had fallen to under $30 per barrel.

May 28, 2018

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Macro-data, rupee to fuel equity market's trajectory

A reversal in the rupee's trajectory was seen late last week as it strengthened by 23 paise to close at 67.78 against the US dollar. Even domestic fuel prices are expected to fall after the Brent crude cost eased to around $76 from $78 per barrel last Friday.

May 27, 2018

Google, Facebook face over $9 bn in fines

Privacy-advocacy group Noyb.eu said that tech giants such as Facebook and Google are essentially forcing people to adopt a "take it or leave it" approach when it comes to privacy.

May 26, 2018