Business news

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

Auto giants BMW and Jaguar Land Rover collaborate to develop electric vehicles

The collaboration of engineers will bring in expertise in electrification and help in the advancements of electric engines and transmissions.

Jun 6, 2019

The Air India plane flying the inaugural trip from Lucknow,

Air India divestment: Will Modi 2.0 get second time lucky with 100% stake sale?

The Narendra Modi government is taking up unfinished business on a priority basis and Air India privatisation is top on the agenda.

Jun 5, 2019

uber ola cabs surge pricing licence karnataka taxi hailing aggregators, uber drivers, ola drivers, uber driver strike

Ola and Uber see bumpy ride ahead amid slow growth

In recent months, there has been an exponential cut in driver incentives which has led to supply shortage of the driver partners of these taxi hailing services. This has directly impacted the growth of their businesses.

Jun 5, 2019

Zomato announces better parental leave benefits to all staff including men, non-birth parents and LGBTs

Zomato delivers liberal parenthood norms but leaves field staff out in the cold

App-based food delivery firm introduces 26 weeks' parental leave for all employees but the plight of thousands of field staff remains unchanged

Jun 4, 2019

Indian industry seek corporate tax rate cut to 20% in upcoming budget

The Confederation of Indian Industry (CIII) called on Modi to push reforms in the budget so as to boost private investment and domestic consumer demand and achieve 8-10 percent economic growth rates over the next few years.

Jun 4, 2019

US-China trade war could trigger prolonged global recession this year

Escalating US-China trade wars may trigger prolonged global recession this year

Morgan Stanley warns investors must take into account the threat of a prolonged recession for their investment strategy given the worsening trade war rhetoric between the US and China

Jun 3, 2019