Business news

PNB scam: Lapses at several levels led to India's largest bank fraud, report says

A $2 billion fraud at India's Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank's own internal probe has found.

Jun 20, 2018

China vows to hit back as Trump plans $200 billion additional tariffs on Chinese imports

The developments suggest an intensifying trade dispute that the International Monetary Fund fears would be one of the biggest risks to global growth.

Jun 19, 2018

Who is Sandeep Bakhshi? ICICI gets new COO amid Chanda Kochhar probe

The announcement came on Monday, June 18 and in his new role as COO, Sandeep Bakhshi will continue to report to CEO Chanda Kochhar, who has reportedly gone on leave. Bakhshi has been brought on board for a period of five years, which is subject to approvals from the regulatory board.

Jun 19, 2018

World's richest person, Jeff Bezos is now wealthier than ever

Amazon CEO Jeff Bezos is now worth $141.9 billion as per Forbes. Up by $5 billion since June 1.

Jun 19, 2018

Chanda Kochhar asked to go on leave until completion of internal inquiry

ICICI Bank's Board has, at its meeting on Monday, decided to appoint Sandeep Bakhshi as the lender's whole time director and chief operating officer (COO).

Jun 19, 2018

Only Uday Kotak gets a pay hike among all private bank chiefs in FY18

The annual report of Kotak Mahindra bank shows that Uday Kotak received a pay hike of 11.02 percent - Rs 2.92 crore - in the fiscal year ended March 2018, from Rs 2.63 crore in the year ended March 2017, mainly due to a similar rise in basic salary.

Jun 18, 2018

ICICI Bank to finally boot out Chanda Kochhar? Sandeep Bakhshi to be named CEO

Major financial daily reports that ICICI Bank top management has decided to remove CEO Chanda Kochhar from the position following the investigation into alleged conflict of interest over Videocon loan. The report says Sandeep Bakhshi, the head of the bank's insurance division, will become the next CEO.

Jun 18, 2018

Probe against Nirav Modi compromised? Top CBI officer's email blocked, desktop seized

Under whose wings is Nirav Modi taking shelter after duping Punjab National Bank of more than Rs 14,00 crore? While his passport was supposed to be revoked, he travels using it as recently as on June 12.

Jun 18, 2018

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DBT savings could touch Rs 40,000 crore in current Financial Year

Total savings since the inception of Direct Benefit of Transfer in 2013 to cross Rs1.25 lakh cr.

Jun 18, 2018

Offline smartphones sales plummet in India; Mi.com grows faster than Amazon and Flipkart

Xiaomi, which has disrupted the Indian smartphone market in the mid-segment, continues to grow and consolidate its position. Strikingly, Mi.com has grown faster than big rivals Amazon and Flipkart.

Jun 16, 2018

Tesla layoff ordeal: Employees were caught off-guard by vague midnight mail

Explaining the move Tesla CEO Elon Musk said that the company had never made annual profits since it was founded, which proves that profit is not the only motivational factor. But the expansion of the company in the last 14 years has led to "some duplication of job roles and some job functions."

Jun 15, 2018

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Business news

PNB scam: Lapses at several levels led to India's largest bank fraud, report says

China vows to hit back as Trump plans $200 billion additional tariffs on Chinese imports

Who is Sandeep Bakhshi? ICICI gets new COO amid Chanda Kochhar probe

World's richest person, Jeff Bezos is now wealthier than ever

Chanda Kochhar asked to go on leave until completion of internal inquiry

Only Uday Kotak gets a pay hike among all private bank chiefs in FY18

ICICI Bank to finally boot out Chanda Kochhar? Sandeep Bakhshi to be named CEO

Probe against Nirav Modi compromised? Top CBI officer's email blocked, desktop seized

DBT savings could touch Rs 40,000 crore in current Financial Year

Offline smartphones sales plummet in India; Mi.com grows faster than Amazon and Flipkart

Tesla layoff ordeal: Employees were caught off-guard by vague midnight mail

Japan's SoftBank to invest up to $100 billion to boost India's solar power production

Cash-strapped Rolls-Royce to cut 4,600 jobs, mostly in the UK

Tesla sends home 9% workers as Elon Musk chases elusive profits

Slowing gasoline price rises keep US inflation in check

Time for India to follow suit? France, Germany, Netherlands, US banned use of EVMs [here's why]

Dhanush's Captain Miller has no buyers in Telugu states? Here's why

Deepika Padukone is a sight to behold in velvet gown; attends Academy Museum Gala with Selena Gomez, Dua Lip [see pics]