Latest News
- India beefing up infrastructure along China border; new strategic tunnel being constructed in Uttarakhand
- Govt may get RBI to monetise deficit
- EU to unveil massive stimulus plan for post-coronavirus recovery
- COVID-19 Impact: Create demand, rescue economy
- Anant Ambani joins Jio Platforms board
- Abolition of worker protection by some states won't be OKed: Santosh Kumar Gangwar
- Out of legal options, Vijay Mallya may seek asylum in UK
- Economy may contract by over 40% in Q1: SBI Research
Latest Business News
Refresh- Amazon in talks to buy autonomous vehicle startup Zoox
Dow Jones reported that Amazon is in advanced talks to buy Zoox for less than the $3.2 billion valuation from 2018.
- Dollar edges higher as US-China worries resurface
The dollar edged up to $1.2321 against the pound on Wednesday in Asia, pulling away from its lowest level in two weeks.
- JK Rowling unveils 'The Ickabog', a new book for children; publishes first chapters free to read online
The book will be published in print later this year, and royalties from its sales will be used to help those affected by the pandemic.
- Gold flat as Hong Kong concerns offset reopening optimism
Asian shares shed some of their recent gains on concerns about rising Sino-U.S. tensions.
- India beefing up infrastructure along China border; new strategic tunnel being constructed in Uttarakhand
The Border Roads Organisation (BRO) on Tuesday said that it has achieved a breakthrough and a “perfect” linkup of the construction teams of the north and south portals of the Chamba tunnel. The tunnel will be opened for traffic by October this year, almost three months before its scheduled date of completion.
- Oil slips on demand worries, Hong Kong tensions
Brent crude futures fell 21 cents, or 0.6%, to $35.96 by 0120 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents, or 0.9%, at $34.04 a barrel.
- Coming soon: A platform that will take you closer to the stars
South African startup myFanPark is coming to India, in partnership with entrepreneur Shailendra Singh.
- Palm oil climbs more than 2% on expectations of higher May exports
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
- Now, penguin poop is no laughing matter
Though it emits nitrous oxide, better known as laughing gas, it is dangerous.
- Global stocks pull back as Hong Kong uncertainty weighs
Worsening relations between the world's two biggest economies will further hobble global growth, already in the doldrums due to the coronavirus pandemic worldwide.
- Govt may get RBI to monetise deficit
The Centre is likely to look at the option of the Reserve Bank of India (RBI) monetising the deficit in the second half of the financial year, a senior government official has said, asserting that the Centre is seriously examining the issue.
- Reduce Bata India, target pric Rs 1,100: ICICI Securities
Bata’s cash generation took a hit given the weak performance.
- How to help your teenager process emotions positively during lockdown: Set a schedule, give them freedom
Most teenagers are experiencing insomnia or sleep pattern disruptions during this period.
- Experts green flag Mumbai local with 30% capacity
The City-Scale Epidemic Simulator, which uses SAP’s technology platform, has been modelling datasets – such as number of cases in April and percentage of death; cases in slums and nonslums etc in Mumbai and Bengaluru. Once the information and practices are modelled across different locations in a city.
- Latest rate cut is adding to record corporate bond sales
The pipeline of deals is growing with at least three state issuers seeking bids for as much as 110 billion rupees ($1.5 billion) of bonds on Wednesday.
- EU to unveil massive stimulus plan for post-coronavirus recovery
The aim is to help countries and sectors worst hit by the COVID-19 pandemic recover quickly and protect the EU single market of 450 million people from being splintered by divergent economic growth and wealth levels as the 27-nation bloc emerges from its deepest ever recession expected this year.
- COVID-19 Impact: Create demand, rescue economy
The latest projections, like those by SBI, show catastrophic economic contraction in FY21. There's still time to avoid or largely mitigate this – through an avalanche of government spending aimed squarely at creating demand.
- Board Meetings Today: Sun Pharma, Dabur India, Quess Corp, Ujjivan Financial Services and Heritage Foods
Aditya Birla Fashion, JP Associates and Vaibhav Global are slated to report their March quarter results on Wednesday.
- Trai says floor pricing talks only after lockdown ends
“It may be a better option that any further discussion on the issue (floor tariff) is held after the lockdown is completely lifted and normalcy is restored,” Sharma told ET, virtually ruling out an online open house discussion on the issue, and thus, an early decision on the contentious issue.
- SGX Nifty down 30 points; here's what changed for market while you were sleeping
Nifty futures on the Singapore Exchange traded 29.50 points, or 0.32 per cent lower at 9,047.50 in signs that Dalal Street was headed for a negative start on Wednesday.
- From Unicorn India Ventures to GrowX Ventures, Micro VCs fight for relevance as bigger funds dig in
A number of micro VC fund managers admit that the emergence of marquee VC-backed programmes over the last two years have made the startup landscape trickier to navigate, which has therefore seen them adopt niche investment strategies, and also to scout for opportunities outside the metros.
- Rana Kapoor used three family-owned companies to divert funds: ED
The allegedly diverted sum of Rs 5,050 crore is “proceeds of crime,” according to ED, which is probing money-laundering charges against Kapoor and his family members.
- Mega lockdown puts India’s animal spirits to sleep in April
The numbers offered the first glimpse of the devastating hit to the economy.
- Anant Ambani joins Jio Platforms board
Anant Ambani joins Jio Platforms at a time when the oil-to-telecom behemoth is looking to transition itself from an energy-centric conglomerate to one focussing increasingly on consumer technology.
- Abolition of worker protection by some states won't be OKed: Santosh Kumar Gangwar
Labour minister Santosh Kumar Gangwar said the abolition of worker protections by some states aimed at attracting investment won’t be approved by the Centre in the current form.
- Buy Trent, target price Rs 525: ICICI Securities
The brokerage believes Trent is likely to emerge stronger when normalcy returns and is better positioned to leverage the huge available opportunity.
- Buy HDFC, target price Rs 2,345: ICICI Securities
Once the situation normalises, many accounts moving out of moratorium will perform better given the profile of collateralised asset/customer class.
- Ola Financial gets Rs 205 crore from Falcon Edge, Matrix Partners
Apoletto Managers, the and Arun Sarin's family office also participated in the round. This deal closed at a valuation of $250 million, according to two people directly aware of the matter.
- Day 2: Airline operations smoother, but AI faces ire
Operations at India's airports were smoother on the second day after the chaos that marked the resumption of domestic flights on Monday.
- Petronas in talks to acquire assets of Acme Solar
One of the largest solar power developers in India, Acme Solar has a portfolio of 5.5 GW with an operational capacity of 2.9 GW and 2.6 GW of projects under different stages of development.
- Out of legal options, Vijay Mallya may seek asylum in UK
Beleaguered businessman Vijay Mallya is understood to have recently filed an application seeking political asylum in the UK, said top legal sources close to the development.
- Economy may contract by over 40% in Q1: SBI Research
It says in a report that Q1GDP FY21 loss will be humongous and could even exceed 40%.
- Auto companies stare at bleak wholesale numbers in May
Early indications show this month could be a washout, with auto majors such as Maruti Suzuki, Hero Motocorp, Mahindra & Mahindra, and Tata Motors likely to manage just one-tenth of average monthly wholesale sale numbers, and experts warn of a prolonged crisis due to economic slowdown and poor consumer sentiment.
- Bharti Telecom raises Rs 8,433 crores, sells 2.75% in Airtel
BTL’s stake in Bharti Airtel fell to around 36% after the deal. Correspondingly, the combined 58.98% holding of Bharti Airtel’s promoter group – Sunil Mittal-owned entities and Singtel – came down to 56.23%. Sunil Mittal’s Bharti Enterprises and Singtel own 50.56% and 49.44%, respectively, in BTL.
- Carlyle weighs billion dollar bet on Axis Bank
Private equity group Carlyle has initiated discussions with Axis Bank for a fund infusion.
- Metal stocks regain shine on hopes of China demand revival
International steel prices have recovered in the past week by 3 per cent.
- Brokerages cut HDFC price targets, but remain bullish
Bad loans to both individuals and real estate companies rose in the March quarter.
- MHA asks states to ensure refunds after rule change
“Indian nationals who were quarantined in hotels after their return from abroad were made to pay advance for 14 days. Since they can now leave for home quarantine after 7 days, the amount...for remaining 7 days needs to be refunded.”
- Rouse Avenue District Court prepares staff for video meet
These prominent cases, allegedly also involving former finance minister P Chidambaram, are being pursued by the Central Bureau of Investigation and Enforcement Directorate. In fact, all corruption-related cases hanging fire in various city courts were transferred to the Rouse Avenue court last year to expedite the anti-graft trials.
- Over 1 lakh Indians to return before June 13
“Concluded a detailed review meeting of Vande Bharat Mission... The focus of the meeting was to ramp up the scale of VBM and enhance its efficiency. Arrangements being made for amnesty beneficiaries in the Gulf and naval evacuation of our fishermen in Iran will happen in June,
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