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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.

1 day ago

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.

1 day ago

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.

1 day ago

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.

1 day ago

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.

3 days ago

Hefty discounts by e-commerce players likely to attract CCI regulatory probe

The Competition Commission of India while clearing the Walmart-Flipkart deal denounced the heavy discount offered by these companies.

5 days ago

Walmart-Flipkart deal to fetch Narendra Modi-led govt Rs 13,000 crore in tax?

Walmart executives had a meeting with senior income tax officials and assured them that the company will comply with all the rules and regulations.

5 days ago

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Jet Airways needs Rs 3,500 crore immediately to keep flying - Report

Jet Airways has debunked rumours of pay cut and job losses but the shares have been on free fall. Meanwhile a new report says the carrier needs a huge cash infusion immediately to stay afloat.

5 days ago

Over 17,000 jobs at risk as UK's retail giant House of Fraser goes into administration

The fate of 169-year-old House of Fraser, which employs 17,500 people, was sealed when C.banner, a Chinese company, pulled out of a deal to pump in money in the business. Here are four things that went wrong for the retail giant.

5 days ago

Continental to create 2,000 jobs as India's automobile industry hits the fast lane

The Indian automobile industry is currently the fourth largest in the world with sales increasing 9.5 percent year-on-year. The market trends indicate the upbeat will continue for the next couple of years.

5 days ago

Jet Airways' Naresh Goyal apologises to shareholders for losses and plummeting shares in glum Q1

Naresh Goyal, the chairman and founder, spoke to the company's shareholders during the annual general meeting and said that he was unhappy as a lot of shareholders had lost their money amid Jet Airways' financial issues.

5 days ago

Jet Airways layoffs: After pay cut plans failed to materialise, airline letting go 500 staffers?

Jet Airways is reportedly mulling handing out pink slips to about 500 of its ground personnel. Not just that, the airline may also reportedly reorganise and trim the cabin crew on its Boeing and Airbus fleet and terminate the contract of its senior crew members.

6 days ago

ICICI Bank wrote down massive bad loans but didn't tell investors - Report

ICICI Bank wrote off as much as 5,600 crore in corporate loans, helping it present a much lower gross NPA in the year 2016-17, a note sent by CEO Chanda Kochhar to the bank's board showed.

8 days ago

Privacy alert: Why is Facebook seeking bank details of customers from major US banks?

Facebook might have clarified it has no intention of using the personal bank data for anything apart from offering a smooth banking experience via Messenger, but news of the company seeking personal bank details of users is bound to raise concerns, especially after the Cambridge Analytica scandal.

8 days ago

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Bumper opening for HDFC AMC on stock exchange; Prices surge 65 percent on debut

As compared to the issue price of Rs. 1,100 HDFC AMC shares shot up to Rs. 1,844 at day's high on NSE.

8 days ago

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Asian Games 2018: All you need to know about 10 new sports at continental event

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