The EU turned the screw on US tech giants Wednesday, ordering Amazon to repay Luxembourg 250 million euros in back taxes and referring Ireland to the top EU court for failing to collect billions from Apple. Europe’s competition chief Margrethe Vestager […]
NEW DELHI (TIP): Home and auto loan rates are unlikely to change, after the Reserve Bank of India (RBI) left its key policy rate unchanged on Wednesday, citing higher risks to inflation. The central bank slashed its growth forecast and raised […]
BENGALURU (TIP): PhonePe, Flipkart’s payments platform, has received a capital infusion of about Rs 255 crore, as per filings with the Registrar of Companies (RoC). The development comes after Flipkart’s closure of the blockbuster funding of $4 billion […]
The airline will study the commercial viability of using amphibious planes that can take-off and land from short, unimproved strips of land as well as water bodies NEW DELHI (TIP): Soon you can land on water or small […]
GANDHINAGAR (TIP): Japan’s Suzuki Motor Corp on Thursday announced fresh investments of around Rs 3,800 crore in Gujarat to add a third car production plant. The company along with its partners Toshiba and Denso will also invest around Rs 1,150 crore […]
NEW DELHI (TIP): Gold on Sept 14 took strength from a positive trend overseas by surging Rs 650 per 10 grams to seize the Rs 31,000 level, driven up by fresh local buying. But silver fell sharply […]
The announcement came just 10 days after VW and its local partners agreed to recall 1.82 million vehicles owing to a faulty fuel pump BEIJING (TIP): Volkswagen will recall almost five million vehicles in China over airbag concerns, Chinese authorities […]
NEW DELHI (TIP): In a setback to Subrata Roy, the Supreme Court on Aug 10 turned down his plea to halt the process for auction of Sahara Group’s flagship property Aamby Valley by the official liquidator of the Bombay High Court. On behalf of […]
NEW YORK (TIP): Digital currency exchange Coinbase announced on its blog on Thursday that it has raised $100 million in so-called “Series D” funding led by US venture capital firm IVP, making it the first bitcoin start-up to achieve a valuation of […]
NEW DELHI (TIP): Telecom operator Reliance Communications (RCom), which is reeling under debt of about Rs 45,000 crore, plans to issue shares to lenders for the debt that it has raised from them, as per a regulatory filing […]
NEW DELHI (TIP): Flipkart has raised an estimated $2.5 billion from SoftBank Vision Fund, making the fund created by Japanese conglomerate SoftBank one of the biggest shareholders of India’s largest ecommerce player. “This is the biggest ever private investment in an Indian […]
Deal dynamics ? The sale price is huge markdown for Snapdeal, which acquired payment wallet FreeCharge for $400 m in 2015 ? The deal will help the third largest private sector lender to double the customer base and address the digitally savvy people ? FreeCharge clocked revenues of Rs 80 […]
NEW DELHI (TIP): Country’s largest telecom company, Bharti Airtel today posted 74.89% decline in consolidated net profit to Rs 367 crore for the June quarter of the current fiscal, hit hard by the disruptive pricing of newcomer Reliance […]
LONDON/NEW DELHI (TIP): British liquor giant Diageo said it had asked beleaguered businessman Vijay Mallya to return $40 million paid to him as part of the $75 million (Rs 515 crore) sweetheart deal for his exit from United […]
NEW DELHI (TIP): The security agencies, including the Intelligence Bureau (IB), have raised concerns over the Centre’s decision to allow 100% foreign direct investment (FDI) in domestic airlines’ operations. Recently, Union Home Secretary Rajiv Mehrishi chaired a meeting to […]
NEW DELHI (TIP): E-commerce major Flipkart is expected to make a revised offer of USD 900-950 million for buying rival Snapdeal, according to sources. The new offer almost matches the initial asking price of USD 1 billion for […]
‘First-time-ever’ records continue to tumble as rally continues on BSE and NSE Mumbai, July 13: The Sensex today went past the 32,000- mark for the first time ever, soaring over 232 points, and the Nifty closed at a […]
WASHINGTON (TIP): The board of the US-India Business Council comprising CEOs of some top American companies has voted to sever ties with the powerful US Chamber of Commerce, laying bare years of simmering tensions, including over clashing policy priorities. […]
SINGAPORE (TIP): Oil prices fell by more than 1 percent early on Friday, with U.S. crude futures dipping below $45 per barrel as news of a rise in U.S. production added to earlier reports that OPEC output was also on […]
HAMBURG (TIP): As the world debates use of big data and analytics to improve financial inclusion, India’s Aadhaar system has come in for praise by a global body on financial reforms for expanding banking reach and lesser use of cash. In a progress […]
NEW DELHI (TIP): The Modi government’s Goods and Services Tax (GST) is “very, very imperfect” and cannot be called “one nation, one tax” as it has seven or more rates, senior Congress leader P Chidambaram has said. The Congress will press for […]
NEW DELHI (TIP): Global e-tailing giant Amazon has invested over Rs 2,000 crore (over $310 million) in India in the past two months as it looks to consolidate its position in the country and fend off local rivals like Flipkart. […]
BENGALURU (TIP): Infosys president and head of Americas Sandeep Dadlani has resigned, a sudden development that some attributed to growing pressures on the company’s top executives to deliver, following a series of unimpressive quarterly performances. Dadlani, who has been […]
NEW YORK (TIP): Takata Corp , the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from US […]
NEW YORK (TIP): Amazon.com Inc said on June 17 (Friday) it would buy US organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer’s largest deal and biggest foray into the brick-and-mortar retail sector. The deal, which puts a 27% premium on Whole […]
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