Top 10 biz headlines: AI to raise Rs 22,000 cr, e-commerce policy, and more
State-run banks may get flexibility in deciding employees’ salaries
The 11th bipartite wage settlement talks between the Indian Banks’ Association (IBA) and state-run banks have included a new formula under which the latter will be given the flexibility to pay their employees in accordance with their profitability and capacity to absorb higher wage costs. This proposal featured in the talks between bank unions and bank managements, which resumed on June 21 under the aegis of the IBA, after a three-month break for the Lok Sabha polls. READ ON…
Finance Ministry to monitor rate cut transmission by public sector banks
The finance ministry is closely monitoring the transmission of monetary policy rates at public sector banks (PSBs) and is collating data on the lending rate cuts effected by banks, following a series of rate cuts by the Reserve Bank of India (RBI), a finance ministry official said. READ ON…
Bajaj Auto, Triumph Motorcycles to firm up partnership agreement soon
Two years after they announced a partnership to co-develop middle displacement (400cc to 700cc) motorcycles for India and neighbouring markets, Bajaj Auto and the UK’s iconic motorcycle brand Triumph Motorcycles are in the process of finalising agreements on production, investment distribution, marketing, and sales. READ ON…
Air India to raise Rs 22,000 cr from bond market, restructure balance sheet
State-owned carrier Air India will hit the bond market to raise Rs 22,000 crore as it looks to restructure its balance sheet before being put up for sale. The fundraising, to be backed partly by a sovereign guarantee, will be done in two tranches of Rs 7,000 crore and Rs 15,000 crore, and used to repay a group of Indian and foreign lenders to whom the airline owes almost Rs 58,000 crore. READ ON…
New accounting norms likely to hit finances of retail companies
IndAS 116, the new accounting standard for leases, which will be visible from the June quarter, may significantly affect the financials of retail companies. READ ON…
Retailers to go on expansion spree amid muted same-store sales growth
Though there were mixed signals on growth in the March quarter, fierce competition from online players and margin pressures, retail majors are expanding aggressively in FY20. Same-store sales growth for most retailers in the March quarter were soft, with growth aided by new store additions. READ ON…
TikTok parent targets 100 million users by end of 2019 for Helo app
ByteDance, the parent company of popular short video app TikTok, has another winner up its sleeve. Its local language content app Helo, launched a year ago for India, has reached 50 million users by June. READ ON…
Bank of Baroda buys Rs 3,000 crore DHFL loans
MUMBAI: Bank of Baroda (BoB) has entered into a transaction with Dewan Housing Finance Corp. Ltd (DHFL) to acquire loans worth Rs 3,000 crore against its exposure to the non-bank lender, even as a lenders’ consortium to the stressed non-bank lender considers a resolution plan, two people aware of the development said, reports LiveMint.
A business plan can get you a golden ticket to work in UK
Ravneet Kaur went to Newcastle University in the UK in 2012 to start her masters in international marketing and finance. Her timing couldn’t have been more wrong. The country did away with post-study work visa, which allowed students from non-European Union countries to stay back for two years after their course and look for a job. Career prospects suddenly became bleak for people like Kaur, reports The Economic Times.
How selling cereals is actually exporting water
Excessive focus on cereal production and the resulting pressure on groundwater in some States is no news. But this, a UK-based researcher contends, means that some States are actually ‘exporting’ their scarce groundwater when they market the cereals, reports BusinessLine.
Source: Business Standard
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