Business News
Clues by Admin • 3 Oct 2018, Wednesday
Amazon.com Inc has will raise its minimum wage to $15 per hour for all US employees including full-time, part-time, temporary and seasonal employees, starting 1 November. The unions had been pushing their cause “Fight for Fifteen” movement across cities ... Continue Reading
Read More at Livemint
Clues by Admin • 28 Aug 2018, Tuesday
SBI the lead banker in a lenders’ consortium to Bombay Rayon Fashions Ltd, plans to sell loans of Bank of India (BoI), Allahabad Bank and Karnataka Bank to an asset reconstruction company (ARC). The consortium has decided that the ... Continue Reading
Read More at Livemint
Clues by Admin • 28 Aug 2018, Tuesday
An eight-member committee led by corporate affairs secretary Injeti Srinivas has recommended to cap the remuneration of an Independent director at 20% of his/her total income. The proposed pay cap seeks to prevent independent directors from developing cosy relationships with ... Continue Reading
Read More at Livemint
Clues by Admin • 23 Aug 2018, Thursday
Bengaluru-based online stockbroking startup Zerodha has invested ₹2.5 crore as seed fund in Sensibull, a startup working in the options trading business. The early-stage company, which is being incubated under Zerodha’s Rainmatter programme, plans to invest the funds in ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Aug 2018, Thursday
The US announced hefty preliminary anti-dumping duties on metal pipes (used to transport oil, gas and other fluids) imported from India, China, and four other countries after 6 US pipe manufacturers had filed the anti-dumping complaint with the Commerce Department in ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Aug 2018, Thursday
A group of lenders, including Bank of India, State Bank of India (SBI), Allahabad Bank and Dena Bank, is planning to jointly dispose of distressed loans amounting to over Rs 7,300 crore in the first half of September. Bank of India ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Aug 2018, Thursday
Russia is accelerating the rate at which it buys gold as the country continues to move away from traditional asset holdings in response to renewed US sanctions. According to IMF data, Moscow bought 26.1 tonnes of gold in July. That ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Aug 2018, Thursday
HCL Technologies, which recently beat Wipro to become the third largest software firm by revenue, paid the highest salary to a CEO among the top four IT companies. C Vijayakumar, who completed his first full term as CEO and ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Aug 2018, Thursday
One97 Communications owned Paytm said that it is all set to cross 1.5 tons in gold transactions during the upcoming festive season and claims to have cornered 70% market share of MMTC-PAMP's virtual gold products in India. Having seen a ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Aug 2018, Thursday
Indian community workplace discussion app Hush has raised an undisclosed amount as part of its first external round of investment. The seed round was led by early-stage venture capital firm Accel along with participation from Sanjay Nadkarni (country manager at ... Continue Reading
Read More at The Economic Times
The Noisy News
  • Business News

    Yes Bank chairman Ashok Chawla resigns over corruption charges

    Ashok Chawla, chairman of Yes Bank Ltd, stepped down from the board on Wednesday after being named in a corruption chargesheet by the Central Bureau of Investigation (CBI) related to the Aircel-Maxis case. Chawla cited personal reasons behind the resignation. He is also the Chairman of the National Stock Exchange of India Ltd. “The bank shall in due course announce the appointment of a chairman, post RBI’s approval,” Yes Bank said. Yes Bank is already trying to find a replacement for CEO Rana Kapoor, whose term has been cut short by RBI.

  • Business News

    Vodafone Idea posts quarterly loss, says to raise Rs 25,000 crore

    Country’s largest telecom operator by subscribers and revenue, Vodafone Idea Ltd posted losses of Rs 4,974 crore for the quarter ended September 2018, its first quarterly results since merger. Revenue from operations was Rs 7,664 crore. The company is looking to raise Rs 25,000 crore capital in which promoters Vodafone Group will chip in Rs11,000 crore and Aditya Birla Group Rs7,250 crore.

  • Business News

    Levi Strauss seeks to raise up to $800 million in IPO: Report

    Levi Strauss & Co., the global US jeans maker, may soon come out with an initial public offering (IPO) in the first quarter of 2019 to raise $600 million to $800 million, CNBC reported. The company is aiming for a valuation of more than $5 billion, according to the report and is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on its IPO plans. Today, the company, which is closely held by descendants of the family of Levi Strauss, sells its apparel across the globe and reported 2017 sales of $4.9 billion.

  • Business News

    CBDT may soon reward honest tax payers!

    The Central Board of Direct Taxation (CBDT), is evaluating a proposal that might reward honest and consistent taxpayers by giving them a priority in availing public services such as airports, railway stations, highway toll plazas, and tax-related works, a tax official told. CBDT even formed a committee to look into the matter. Prime Minister Narendra Modi, during a conference with senior tax officers last year, had urged the department to enhance the taxpayer services and ensure that the honest taxpayers were given due importance. 
     

  • Business News

    Direct tax collections to exceed target in FY19, says CBDT Chairman Sushil Chandra

    Direct tax collection has already crossed Rs 5 lakh crore and will exceed the budgeted target of Rs 11.5 crore set for the current fiscal, CBDT Chairman Sushil Chandra said Wednesday. He further said that so far the I-T department has issued refunds to 2.15 crore assessees amounting to Rs 1.15 lakh crore. This year so far 6.02 crore ITRs have been filed with the Income Tax Department. The number of direct taxpayers was 3.8 crore when the Modi-led government took office in May 2014.

  • Business News

    Flipkart seeks to soothe employee nerves after Binny Bansal's exit

    A day after Binny Bansal stepped down as Group CEO following personal misconduct allegations, various team heads at Flipkart are extensively engaging with staff to address their concerns and queries related to business and operations. However, an independent investigation conducted against Bansal following allegations of "serious personal misconduct” did not find evidence to corroborate the allegations. The investigation was set up after Walmart was approached in July this year by the complainant, a former associate engaged with Flipkart. Walmart had picked up 77% stake in the Bengaluru-based firm for $16 billion.

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