 "Top 10 biz headlines: LN Mittal's homecoming, ICICI-Videocon case & more")
1) Homecoming costs Lakshmi Mittal $7 billion in year of legal drama
Mittal’s global giant ArcelorMittal is nearing the end of a yearlong battle to break into India with the $5.9-billion acquisition of Essar Steel. Read more...
2) Ebix makes $336 million bid for Yatra.com, plans expansion in Indian market
Ebix, which in recent months made a slew of acquisitions in the leisure and corporate travel segment, submitted its bid to the board of Nasdaq-listed Yatra Online outlining its offer. Read more...
3) ICICI-Videocon loan case: Deepak Kochhar may be probed for benami assets
Tax sleuths are thinking of investigating some of his properties under the Benami Transactions (Prohibition) Act. Read more...
4) Naresh Goyal seeks Rs 750 crore from Etihad to keep Jet Airways flying
Goyal has sought Rs 750 crore immediately from Etihad, while raising concerns over “increasing arrears of vendors and salaries’’ at Jet. Read more...
5) Wait for many more local innovations in India: Coca-Cola CEO James Quincey
James Quincey, the 54-year-old president and CEO of The Coca-Cola Company, said his firm can reconcile fizzy drinks with good-for-you drinks to cater to changing consumer preferences. Read more...
6) Release NSSO data on employment without any changes, says panel
A separate committee will be set up to do a post-survey analysis of the NSSO's PLFS report. Read more...
7) Russian arms sales boom despite prickly ties, possible sanctions
On Monday, the Stockholm International Peace Research Organisation reported that Russia was India’s biggest arms supplier from 2014-18, accounting for 58 per cent of all India’s defence exports. Read more...
8) With rising NPAs, banks take foot off pedal on Mudra loans
The target for financial year 2018-19 is Rs 3 lakh crore. In other words, in less than one month, banks have to disburse almost one-third of the target, reports BusinessLine
9) Standard Chartered, Ruias to appeal in NCLAT against Essar order
The bank’s appeal seeks the quashing of last Friday’s order at the NCLT that had approved the Rs 42,000-crore resolution plan by ArcelorMittal. The bank has also sought rejection of the plan, reports Economic Times
10) To fund Ayushman Bharat, govt plans to evaluate cost of health services first
The centre has decided to evaluate the cost of health services in India to help it undertake strategic planning for its ambitious health insurance programme, Ayushman Bharat, which requires a huge amount of funds, reports Livemint.
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