Top 10 biz headlines: Tariff hikes on US imports, NBFC job losses, and more

From wholesale inflation to road ministry revenues, Business Standard brings you top ten headlines that made news on Friday

India responds to Trump moves at last with tariff hikes on 29 US products

The government, after dragging its feet for almost a year, has decided to increase tariffs on 29 high-value US agricultural and industrial imports by up to 50 per cent. This will take effect on June 16. Read more here

Wholesale inflation at 2-year low of 2.45%; food inflation eases to 6.99%

Charting a divergent path from its retail price counterpart, the wholesale price index- (WPI)-based inflation rate fell to a 22-month low at 2.45 per cent in May, reflecting weak demand in the economy. Read more here 

Sebi bars Prannoy and Radhika Roy from securities market, managerial posts

The Securities and Exchange Board of India (Sebi) on Friday debarred New Delhi Television (NDTV) promoters Prannoy Roy and Radhika Roy and their holding firm RRPR Holdings from trading in the securities markets for two years, and the Roys from holding any key managerial position in NDTV for the same period. Read more here 
 

Piracy, collisions, missiles: Oil tankers navigate troubled waters in Gulf

Tankers like those apparently attacked in the Gulf of Oman operate through increasingly treacherous waters, facing mounting dangers from piracy and collision as well as geopolitical hazards. Read more here

Tighter disclosure norms for ratings firms to benefit structured products

Structured instruments, such as those involved in loans against share transactions that have led to turbulence in mutual funds, will have to follow tighter disclosure requirements under the proposed regulatory norms by the Securities and Exchange Board of India (Sebi). The regulator on Thursday directed rating firms to put out additional information on structured finance instruments, which include such entities. Read more here

Job losses mount in NBFC sector, a major recruiter, as lending plummets

The office of a non-banking finance company (NBFC) in Bandra, Mumbai, wears a near-deserted look. There are only a few customers in the room, and the lone executive at the service desk tells you that the company has stopped giving new loans. Read more here

Volkswagen to rationalise dealer network, tap smaller towns for growth

Volkswagen Passenger Cars, the brand that accounts for the lion’s share of sales at Volkswagen Group India, sees the slowdown in recent months delaying its goal of growing from just around 1.7 per cent to 3 per cent market share by a year or two. But it will, meanwhile, rationalise its dealer network, tap smaller towns for growth, and focus on the SUV segment. Read more here

Input costs help Marico's earnings, will help company meet growth target

A supportive input cost environment has put consumer products company Marico in a sweet spot, and that too at a time when the Street is still waiting for a revival in consumption demand. The stock of Marico has gained about 9 per cent in the last three months, outperforming the S&P BSE FMCG (fast moving consumer goods) index, which is down one per cent during the same period. Read more here

Tata Capital Financial to raise $1.5 billion overseas to settle old loans

The board of Tata Capital Financial Services (TCFSL) is meeting on June 17 to take a call on raising up to $1.5 billion by way of an euro medium term note programme. This will be one of the largest fundraising overseas by Indian non-banking financial companies (NBFCs) in the last three years. Read more here 

Can more highway fuel pumps significantly boost road ministry revenues?

The Ministry of Road Transport and Highways and oil marketing companies (OMCs) are chalking out details of Union Minister Nitin Gadkari’s ambitious plan to set up 1,000 petrol pumps on the Delhi-Mumbai expressway. This was one of the many announcements made by Gadkari when he resumed charge of the road ministry. Read more here