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- Flipkart-Aditya Birla Fashion deal gets CCI nodon January 20, 2021 at 9:37 pm
Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of 7.8 per cent minority stake in Aditya Birla Fashion by Flipkart Investments Private Ltd (FIPL). Aditya Birla Fashion had in October last year approved plans to raise Rs 1,500 crore by issuing a 7.8 per cent stake on a preferential basis to Walmart-owned Flipkart Group.
- States fiscal deficit seen at historic high of 4.7%on January 20, 2021 at 8:37 pm
The combined fiscal deficit of the states will hit a peak of Rs 8.7 lakh crore or 4.7% of their GDP this fiscal on the back of steep fall in tax collections due to disruptions inflicted by the pandemic, according to a report. Revenue of the states have so badly fallen that as much as 70% of the fiscal deficit is contributed by revenue deficit, which normally used to be 15%.
- 'Budget must reinvigorate demand, boost infra spend'on January 20, 2021 at 7:34 pm
The upcoming Budget must focus on creating demand, encouraging infrastructure spending and increasing outlays for the social sector, India Inc said in a survey released on Wednesday.
- India's oil imports at near three-year high in Decemberon January 20, 2021 at 7:11 pm
India’s crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed.
- 'Don’t ignore the comorbidities in life and in biz'on January 20, 2021 at 5:41 pm
- How Biden plans to roll back Trump's immigration ruleson January 20, 2021 at 4:29 pm
US President-elect Joe Biden is set to issue several measures on Wednesday aimed at rolling back some of the restrictive immigration policies put in place by his predecessor President Donald Trump.
- Sensex, Nifty hit fresh closing highs on global cueson January 20, 2021 at 3:49 pm
Equity indices scaled fresh peaks on Wednesday with the benchmark BSE sensex rising nearly 400 points led by gains in IT and auto stocks. Both the indices jumped amid positive cues from global markets.
- Budget must fix a broken labour mkt to boost demandon January 20, 2021 at 1:06 pm
Union finance minister Nirmala Sitharaman has described her upcoming budget as unlike anything seen in the last 100 years. When she presents it on February 1, Sitharaman will not only aim to repair battered government finances and ensure demand recovers in an economy facing its worst contraction since 1952, she must also revive declining revenue and restore job losses.
- Trump pardons ex-Google self-driving car engineeron January 20, 2021 at 12:46 pm
US President Donald Trump said on Wednesday he had given a full pardon to a former Google engineer sentenced for stealing a trade secret on self-driving cars months before he briefly headed Uber Technologies Inc's rival unit.
- Trump's parting gifts to Biden: Roaring stocks, moreon January 20, 2021 at 11:46 am
When he assumes office on Wednesday, US President-elect Joe Biden will inherit a stock market near all-time highs, along with a gaping budget deficit, a weakening dollar, elevated economic uncertainty and a Federal Reserve that may have less ammunition to fight the next crisis.
- Jack Ma makes first public appearance since Octon January 20, 2021 at 10:25 am
Alibaba Group founder Jack Ma met with 100 rural teachers in China via a video meeting on Wednesday, local government media reported, making the businessman's first appearance in public since October last year. Ma has resurfaced after months out of public view, quashing intense speculation about the plight of the billionaire grappling with escalating scrutiny over his internet empire.
- Tesla faces bumpier ride breaking into Indiaon January 20, 2021 at 9:44 am
Elon Musk, the richest man on Earth, tweeted on Jan 13 “as promised” in response to a report on a Tesla-focused blog that the automaker was in talks with several Indian states to open shop in India. For all the hype, Tesla’s foray into India is far from a done deal. The company is in discussions with state officials but is yet to decide on an Indian base, according to reports.
- Swiggy stops online grocery marketplaceon January 20, 2021 at 5:25 am
Restaurant aggregator Swiggy has stopped its online marketplace for groceries, a service which had picked up steam during the lockdown. While it still offers its ‘Genie’ service for pickand-drop and other marketplaces on its app, the company plans to replace the grocery marketplace with ‘Instamart’, a quick grocery delivery initiative that will be serviced by cloud stores across cities.
- Azim Premji sells shares worth Rs 9k cr in buybackon January 20, 2021 at 5:18 am
Wipro founder-chairman Azim Premji and the promoter group tendered 22.8 crore shares worth Rs 9,156 crore in the company's share buyback, paring their stake from 74% to 73%.
- Facebook hosting services to cut costs: WhatsAppon January 20, 2021 at 5:11 am
Under fire over its privacy changes, WhatsApp is now reaching out with reassuring messages to businesses that use its application programming interface (API) to chat with users. The company said leveraging its parent firm Facebook’s hosting services will be much cheaper and will increase efficiency while managing users on the platform.
- Covid hits savings for kids’ educationon January 20, 2021 at 4:00 am
The pandemic has caused major change of priorities for urban Indians as far as their savings are concerned. People are saving less for marriages, kids’ education or for small luxuries like cars and vacations. They are setting aside more for retirement, health and untimely death of the breadwinner.
- WhatsApp continues to defend privacy updateon January 20, 2021 at 12:42 am
Facing the heat from the Indian government which asked it to withdraw a controversial privacy update over data-sharing plans with Facebook, instant messenger WhatsApp reiterated once again that personal messages remain completely encrypted and the proposal is aimed only at making business messaging effective.
- Aditya Puri backs corporates in bankingon January 19, 2021 at 11:24 pm
Former HDFC Bank chief executive Aditya Puri on Tuesday backed the proposal to allow deep-pocketed corporates into banking in India. Puri, the founder chief executive of what has become the largest private sector lender who retired recently, said the country needs more banks to fuel its economic growth ambitions and capital will have to come from somewhere.
- Fuel prices make new record as crude edges up againon January 19, 2021 at 11:10 pm
Fuel prices flared up again on cue from international crude Tuesday, with petrol price hitting a new high in Delhi at Rs 85.20 and diesel making a record in Mumbai at Rs 82.13.
- SBI, ICICI Bank, HDFC Bank remain important: RBIon January 19, 2021 at 8:43 pm
The Reserve Bank of India (RBI) on Tuesday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be domestic systemically important banks (D-SIBs) or institutions which are 'too big to fail'.