Business news

Yes Bank gets another blow; former MD and CEO Ajai Kumar quits board

The shares of YES Bank closed 2.89 per cent down at Rs 135.90.

Jun 10, 2019

Suppliers' bankruptcy petitions may prove the last nail in Jet Airways coffin

The fate of Jet Airways lenders rescue plan in the balance as several suppliers and operational creditors head to National Company Law Tribunal to initiate proceedings under Insolvency and Bankruptcy Code.

Jun 10, 2019

Risk aversion of mutual funds key reason for NBFC liquidity crunch, defaults

Ballooning IL&FS and DHFL crises drove mutual funds to reduce exposure to NBFCs in a big way since September sapping liquidity from shadow banks.

Jun 10, 2019

A week for stock specific action while market searches for new direction

Indices are back on even keel after exit poll results triggered a choppy ride to hit record highs twice; market may remain rangebound as no new data expected.

Jun 9, 2019

Trump calls off plans to impose tariffs on Mexico after deal on migration

The agreement announced on Friday followed three days of negotiations in Washington.

Jun 8, 2019

Auditor emails reveal Deloitte knew of loan evergreening in ILFS

The investigation team found a document in the email server of IL&FS prepared by the DHS Engagement team identifying the funding of borrowers for paying principal and interest.

Jun 8, 2019

Scooter rental start-up Vogo raises Rs 25 crore debt fund from Alteria Capital

Alteria is India's largest venture debt fund focused on innovative startups backed by strong VC sponsors. It provides debt funding in the range of Rs 5 crore to Rs 100 crore to venture-backed companies.

Jun 8, 2019

Mark Zukerberg announces Facebook Dating

Facebook may unveil its cryptocurrency on June 18; Bitcoin fans unfazed

Facebook plans to make the cryptocurrency transferrable with zero fees via Facebook products including Messenger and WhatsApp.

Jun 8, 2019

DHFL default is threatening to draw in mutual fund industry as 160 MFs have exposure to DHFL papers

DHFL default threatens to snowball into big crisis engulfing NBFCs, mutual funds

Public confidence in mutual funds take a beating and inflows taper with imminent payouts facing uncertainty; NBFCs face soaring finance costs triggering liquidity crunch.

Jun 7, 2019

Google buys Looker in Thomas Kurian's 1st acquisition in cloud-computing business

Looker is an American data exploration and business intelligence platform founded in 2012, employing about 800 people. It had a market value of $1.6 billion in 2018.

Jun 7, 2019

A road sign is seen next to Bombay Stock Exchange (BSE) building in Mumbai

Market cracks as RBI fails to go beyond the expected 25 bps repo rate cut

Third successive rate reduction takes repo rate to lowest in nine years at 5.75%; change in monetary policy stance to 'accommodative' removes imminent rate rise fears but the street wants more.

Jun 6, 2019

Another wave of NBFC meltdown worries grips markets after DHFL rating downgrade

NAVs plummet up to 57% for mutual funds with substantial exposure to DHFL paper that rating agencies downgraded to 'default'; exposure of some funds may have exceeded the Sebi-mandated 10%.

Jun 6, 2019

Does Huawei's Russia 5G deal signal a new world trade order split down middle?

Chinese giant ties up with Russia's MTS to deploy 5G technology as Xi begins three-day Russia visit for a summit with Putin amid escalating US-China trade war.

Jun 6, 2019