Business news

India's 26 state-run banks to create 6 large lenders after merger

The move will set the stage for the government's ambitious plan of consolidating India's 26 public sector banks to six big lenders.

Jun 22, 2016

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SoftBank's Nikesh Arora and RBI's Raghuram Rajan have similar impact on stock markets

Shares of SoftBank Group rose on Wednesday, a day after Arora quit, just as the Sensex gained on Rajan's decision to exit RBI.

Jun 22, 2016

Bidders line up for McDonald's Hong Kong, China sale

Sources familiar with the sale told Reuters that the deal is worth $3 billion.

Jun 22, 2016

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India cigarette maker ITC's CEO Deveshwar to step down next year

ITC's board had "strongly urged" Deveshwar to continue as CEO, but he wanted the company to have a younger leader.

Jun 22, 2016

Vijay Mallya resigns as chairman of Bayer CropScience

Over the last four months, Mallya resigned from the boards of Sanofi India, United Spirits and was expelled from India's Rajya Sabha.

Jun 21, 2016

SoftBank's Nikesh Arora resigns a day after clean chit over conflict of interest charges

An in-house probe cleared Arora after a group of investor alleged his investments and him being an adviser at a private equity firm were at conflict.

Jun 21, 2016

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Brexit fears, not Rexit, spoil the party at Indian stock markets

After gaining 240 points on Monday despite Rexit, the Sensex lost 55 points on Tuesday on Brexit fears and profit-booking.

Jun 21, 2016

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Gold prices could rise almost 10% on Brexit: Report

If Britain decides to exit (Brexit) the European Union, gold prices could appreciate by more than $100 to hit $1,400 an ounce.

Jun 21, 2016

Tata Communications looking to sell Indicash ATM business

The company is apparently targeting a valuation of approximately Rs. 1,000-1,350 crore from the sale.

Jun 21, 2016

Yes Bank plans raising $1 billion through QIP

The lender bank has hired Goldman Sachs to raise the amount.

Jun 21, 2016

Wal-Mart to sell China online unit to JD.com for a 5% stake

Under the deal, JD.com will issue about 145 million new class A shares to Wal-Mart, worth about $1.5 billion at JD.com's current valuation.

Jun 21, 2016

Govt allows PPF subscribers to prematurely close accounts after 5 years

Expenditure on higher education, medical treatment will qualify as reasons strong enough for complete withdrawal of the deposit amount.

Jun 20, 2016

AgustaWestland chopper scam: ED raids involved firms, freezes assets worth Rs. 86 crore

The raids in New Delhi, Mumbai and Hyderabad were part of the agency's probe into Rs. 3,600 crore AgustaWestland VVIP chopper deal.

Jun 20, 2016

Preventive drug against breast cancer is holy grail for women with BRCA1 gene

An existing drug may target precancerous cells in breast tissues, helping women at high risk of cancer.

Jun 20, 2016

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SpiceJet, Jet Airways, Interglobe shares rally on liberalised FDI norms for civil aviation sector

Shares of InterGlobe, SpiceJet, Jet Airways Reliance Defence jumped six to seven percent after the government eased FDI norms for defence and aviation sectors.

Jun 20, 2016

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