Finance Ministry working with RBI on need for loan restructuring: Sitharaman

The Finance minister also said that the decision on reducing GST rates on the healthcare and other products will be taken by the GST Council

James Murdoch resigns from News Corp board over editorial differences

While tendering the resignation, Murdoch also cited differences over certain strategic decisions of the company

TV makers may opt for license instead of local manufacture for premium models: Report

This is because demand for these products may not warrant investment into local manufacturing

This week in Auto: Banks tread cautiously on auto loans, Jaguar Land Rover gets new chief

Here is a complete look at all that have made headlines in the auto space during the week

Apple vendors, Samsung, others propose Rs 11 lakh crore mobile phone production under PLI scheme

Proposals submitted to the Ministry of Electronics and IT to avail PLI benefits are expected to create 12 lakh employment opportunities

Noida police attaches builders#39; ill-gotten properties worth Rs 17.25 crore

Proceedings were launched against eight builders and their properties attached under Section 14 of the Uttar Pradesh Gangsters and Anti-Social Activities (Prevention) Act

‘PV business to get cash positive by FY23’: Tata Motors to retain control

Tata Motors has started talks with potential partners but has refused to share further details

‘Just say yes or no,’ say candidates to companies ‘ghosting’ them after interviews

Several million people have lost their jobs across India are vying for better opportunities aggressively. But ghosting by potential employers is becoming a common problem.

Trump says US #39;may be banning#39; China-owned video app TikTok

Trump#39;s comments came after published reports that the administration is planning to order China#39;s ByteDance to sell TikTok

Three charged in massive Twitter hack, Bitcoin scam

In one of the most high-profile security breaches in recent years, hackers sent out bogus tweets on July 15 from the accounts of Barack Obama, Joe Biden, Mike Bloomberg and a number of tech billionaires

Microsoft said to be in talks to buy TikTok, as Trump weighs curtailing app

It’s unclear how advanced TikTok’s talks to sell itself to Microsoft and other companies are, but changing ownership is crucial for the app

Former RBI Deputy Governor Viral Acharya warns against privatisation of PSU banks at discounted prices

Citing the example of the South Asian crisis in 1997, Acharya said that a large number of public sector banks in the region had to be privatised post the crisis and in many cases were sold at fire sale prices to private equity investors from abroad.

In pics | This pilot couple together built a career, and a life, from the age of 19

Sneha Bhanot and Ayush Mahajan are commanders in Air India.

Copper futures rise marginally on fresh bets

On the Multi Commodity Exchange, copper contracts for August delivery traded higher by Rs 2, or 0.39 percent, at Rs 509.50 per kg in a business turnover of 4,059 lots.

Zydus Wellness June quarter net profit up 11% at Rs 89 crore

The company had posted a net profit of Rs 80.40 crore for the corresponding period of the previous year, Zydus Wellness said in a filing to BSE.

In India, a diminished Nissan bets big on a small SUV

Unveiled this month and due to be launched either late this year or early 2021, the Magnite will be Nissan#39;s first new vehicle in India in two years. Moreover, it will be just one of three Nissan-branded models in the market after two others were pulled in April when tougher emission rules kicked in.

Facebook smashes revenue estimates amid pandemic, forecasts ad growth

Ad sales, which contribute nearly all of Facebook#39;s revenue, rose 10 percent to $18.3 billion in the second quarter as people under lockdown spent more time online and businesses rapidly pivoted to e-commerce. Monthly active users rose to 2.7 billion, ahead of estimates of 2.6 billion.

RBI likely to leave repo rate unchanged in August policy meet: Report

The Monetary Policy Committee (MPC), headed by RBI Governor, is scheduled to meet for three days beginning August 4 and will announce its decision on August 6.

Donald Trump offers, Democrats reject fix for $600 jobless benefit

Democratic leaders panned the idea in late-night talks at the Capitol, opting to keep the pressure on for a more sweeping bill that would deliver aid to state and local governments, help for the poor and funding for schools and colleges to address the pandemic.

India extends safeguard duty on solar imports, imposes anti-dumping duty on other items

The move is the latest among many by the Indian government to reduce dependence on Chinese imports

Tata Capital to invest Rs 225 crore in Biocon Biologics for minority stake

The deal for 0.85 percent stake values Biocon Biologics at an equity valuation of Rs 26,250 crore, or $3.5 billion

The economy is in record decline, but not for the tech giants

Even though the tech industry’s four biggest companies were stung by a slowdown in spending, they reported a combined $28 billion in profits on Thursday.

UGC final year exam: Supreme Court adjourns case till August 10

UGC final year exam: The apex court has asked MHA#39;s stand on the matter to be clarified and asked the state disaster management committee of Maharashtra to file its reply.

From August 1, EPF will be back to 12% each for employee, employer

The idea behind the move, according to the government, is to offer support to workers and businesses who continue to face financial hardships in light of the coronavirus pandemic and the lockdown that followed.

Tata Capital Growth Fund to invest $30 million in Biocon Biologics

Post the completion of this transaction, Biocon will hold 95.25 percent stake in Biocon Biologics, the biotechnology major added.

HDFC gets shareholders#39; approval for raising up to Rs 1.25 lakh crore via debt securities

The approval was received at the company#39;s annual general meeting (AGM) held through audio visual medium.

Control Print: A decent show in a difficult quarter, is it worth a long-term investor’s attention?

Control Print#39;s healthy future prospects of the business and attractive valuations make it worthy of the attention of long-term investors.

Jet Airways pays $13 million to acquire 6 Boeing aircraft, engines

The airliner has faced a series of accusations of unpaid dues, even being dragged to the NCLT since it was grounded in April 2019

Their new factories are ready to roll but auto companies slam on the brakes

With the Covid pandemic showing no signs of abating, companies have put their expansion plans on hold in India. We look at how Ashok Leyland, Suzuki and Honda have been affected

Taking on SpaceX, Amazon to invest $10 billion in satellite broadband plan

Amazon said #39;Project Kuiper#39; will also benefit wireless carriers deploying 5G and other wireless services to new regions.

Battered by nearly Rs 16,000 crore loss, Airtel CEO hints at another round of tariff hikes

We continue to believe that average revenue per user (ARPU) needs to move up to 200 and eventually to 300 for a sustainable business model, said Bharti Airtel CEO Gopal Vittal.

82% of corporate India expects recovery by June 2021: PwC survey

While 45 percent CXO respondents are keen to consider acquisitions, 20 percent are considering divesting non-core businesses, according to the PwC India report.

RBI extends directions for three Maharashtra urban cooperative banks

RBI directions for Vasantdada Nagari Sahakari Bank, the Kapol Cooperative Bank and the Maratha Sahakari Bank have been extended for varying periods

Market veteran Madhu Kela shares the big mistakes he made while trading

With more than 30 years of experience in the stock market, Madhu Kela has been one of the most influential names of Dalal Street in the last decade

Won#39;t profit from COVID-19 vaccine in pandemic: AstraZeneca

AstraZeneca has struck a number of deals around the world to supply the experimental COVID-19 vaccine, which has shown promise in early testing.

Hero Electric partners with Autovert Tech for subscription-based financing plans

Under the partnership, Hero Electric customers can avail of all-inclusive subscription plans starting at Rs 2,999 per month along with bundled services such as comprehensive insurance, service and maintenance, loyalty bonuses and attractive upgrade options, the company said in a statement.

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AIIB to step up lending in India; plans to approve loans worth $3 billion in next 12 months

India is the largest borrower, which accounts for 25 percent of the total lending by Asian Infrastructure Investment Bank (AIIB) so far, the bank#39;s vice president D J Pandian told PTI in an interview.

KTM offers additional warranty, roadside assistance for bookings before September 20

The offer includes an additional three-year warranty and free one-year roadside assistance plan, among others, the company said in a release.

National Education Policy: What industry experts have to say

Industry experts have mixed reactions to the new set of policy initiatives under the National Education Policy. Implementation concerns are among the primary worries.

Indian Energy Exchange clocks 15% growth in electricity sales volumes in June quarter

According to the data released by the IEX on Thursday, the average spot power price at the exchange was down 26 percent YoY and yielded significant savings for distribution utilities and Industries.

Govt imposes safeguard duty on solar cells for one more year till July 2021

The move followed recommendation by the commerce ministry#39;s investigation arm Directorate General of Trade Remedies (DGTR) for continued imposition of the duty for one more year.

Copper futures fall on weak demand

On the Multi Commodity Exchange, copper for August delivery eased by Rs 2.45, or 0.48 percent, to Rs 507.20 per kg in a business turnover of 3,903 lots.

Zinc futures rise to Rs 184.10 per kg

On the Multi Commodity Exchange, zinc contracts for July delivery traded higher by Rs 2.20, or 1.21 percent, at Rs 184.10 per kg with a business turnover of 126 lots.

Nickel futures slide on tepid demand

On the Multi Commodity Exchange, nickel contracts for August delivery traded down by Rs 1.90, or 0.18 percent, to Rs 1,050.30 per kg with a business turnover of 1,750 lots.

Adani Ports SEZ raises $750 million via bond issue

The money will be used to repay loans of Adani Ports and its subsidiaries. The move comes after the company board approved off-shore bond capital raise of up to $1.25 billion.

ArcelorMittal Nippon Steel reports 23.5% drop in Q2 EBITDA

Its steel production was down 29 percent in the second quarter.

India#39;s gold demand in April-June sinks 70% on COVID-19 disruptions: WGC

Overall gold demand in the country was 213.2 tonnes during the second quarter of 2019, WGC said in its #39;Q2 Gold Demand Trends#39; report.

Worst zoom quiz ever? Tech glitch lets Jeff Bezos escape an hour of antitrust questioning

A congressional aide said it was “not clear” what happened with Amazon#39;s virtual feed

Bill requiring retailers to disclose products made in China introduced in US Congress

The bill, introduced on Wednesday, stipulates that online retailers legibly state on a noticeable place on their webpage if a product or a major component of that product originated in China, or if the product was manufactured or assembled in that country.