Business news

Spiritual guru behind downfall of Fortis' Singh brothers?

Heirs to a business house which was worth billions not that long ago, there has been a dramatic fall in the fortunes of Malvinder and Shivinder Singh in the last six months.

Aug 17, 2018

Rupee recovers marginally after falling to record low

The rupee recovered to 70.23 after it plunged to 70.32-33 -- the lowest ever mark -- against the greenback on the back of an apparent intervention by the Reserve Bank of India (RBI).

Aug 16, 2018

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Lifeline for Jet Airways as Blackstone plans to buy stake in troubled airlines' frequent flyer arm

Jet's cash reserves have dwindled due to rising crude oil prices and intense competition in the Indian market. The airline says it is evaluating all options to meet liquidity requirements and looking at measures to enhance revenue generation and increase cost cutting.

Aug 16, 2018

China lodges complaint with WTO over legalities of US policies

China said that they required the WTO's intervention because the imposition of tariffs and subsidising the renewable energy firms have distorted the global markets.

Aug 15, 2018

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India's wholesale inflation eases to 5.09% amid lower food prices

On a sequential basis, the expenses on primary articles, which constitute 22.62 percent of the Wholesale Price Index's total weightage inched up by 1.73 percent, from an increase of 5.30 percent in June 2018.

Aug 14, 2018

An aircraft of India's Jet Airways lands

Jet Airways debt burden: Troubled airline scrambling to avoid loan repayment default

The full-service airline has written to a consortium of overseas lenders, in which it has requested that a loan covenant on its existing debt terms be waived. The lenders had put a condition of a minimum profit of $50 million for FY19 and Jet has said it wouldn't be able to fulfil this condition.

Aug 14, 2018

Who is Usha Ananthasubramanian? CBI and RBI to investigate sacked Allahabad Bank CEO's role in PNB fraud case

Usha Ananthasubramanian had served as the CEO of Punjab National Bank from August 2015 to May 2017.

Aug 14, 2018

Meet Smitha V Crishna, India's richest woman!

A recent list released by Kotak Wealth-Hurun titled Leading Wealthy Women 2018 has ranked Crishna at the top of the list with an estimated wealth of Rs 37,570 crore. Crishna belongs to the third generation of the famous Godrej clan.

Aug 14, 2018

Jet Airways' Board defers consideration of Q1 results; says all accounts with lenders are 'Standard'

According to Jet Airways, it has been evaluating various funding options to meet its liquidity requirements on priority.

Aug 14, 2018

Gold stabilises as dollar pulls back from 13-month high

Gold prices traded steady on Tuesday, but hovered close to an 18-month low, as the US dollar pared gains after posting a 13-month high in the previous session.

Aug 14, 2018

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Rupee hits a new low at 69.62 per dollar amid political crisis in Turkey

The Indian currency hit a record low as the political-economic crisis in Turkey creates panic.

Aug 13, 2018

Saudi Arabian PIF 'reluctant' for Tesla buyout proposal

While Tesla's CEO, Elon Musk is said to have made an offer of $72 million, there are still no takers to make the company private.

Aug 12, 2018

Satya Nadella offloads $35.9 million in Microsoft stock; biggest sale in his tenure as CEO

Microsoft CEO Satya Nadella, whose annual base salary last year was $1.45 million and total compensation exceeded $20 million, is required to have 15 times his base salary in stock.

Aug 11, 2018

State Bank of India Q1 loss at Rs 4,876 crore on higher provisioning for NPAs

The country's largest lender's NPAs during the quarter in review rose to 10.69 percent of its total advances, as compared to 9.97 percent in the same period a year ago.

Aug 11, 2018

Swedish furniture giant IKEA opens store in India with shocking sales record in just 2 days

The Swedish furniture giant has opened its first store India at Hyderabad. The day-1 and day-2 sales are just mindblowing.

Aug 11, 2018

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