Top 10 biz headlines: E-vehicle road map, US-China trade war, and more
Tata Sons to avoid big-ticket acquisitions for now, focus on debt reduction
Tata Sons, under the leadership of Chairman N Chandrasekaran (pictured), will focus on improving the operating metrics of group companies and reducing debt. Read more here
NITI Aayog CEO Amitabh Kant to meet auto CEOs on e-vehicle road map
NITI Aayog Chief Executive Officer Amitabh Kant (pictured) is likely to meet the heads of all two- and three-wheeler companies in New Delhi on June 21 to discuss the road map for the adoption of electric vehicles (EVs). Read more here
As US-China trade negotiations drag the world to uncertain territory, central banks around the world are readjusting their foreign exchange reserve mix in favour of gold for safety and strategic reasons. Read more here
Sebi likely to rejig mutual fund categorisation norms to curb credit risk
The Securities and Exchange Board of India (Sebi) may rework the current categorisation norms to mitigate risk in medium- and shorter-tenure debt mutual funds (MFs) that take credit risks. Currently, most debt fund categories do not have restrictions on the amount of credit risk they can take. Read more here
An overhang in auditing environment after IL&FS fiasco, says Reliance Infra
A day after auditors raised a long list of concerns on Reliance Infrastructure’s (RInfra) financial reporting, company officials called it an overhang in the auditing environment after the IL&FS fiasco. Read more here
On McDonald's menu: Winning back customers' trust after shutdown
For many Indians who got their first taste of a hamburger at a McDonald's outlet, the shutdown last month of its outlets in the north and the east following a protracted battle with Connaught Plaza Restaurants, the entity that ran the global giant’s operations in north and east India, would have been a major disappointment. Read more here
US-China trade war: 151 items of Indian exports set to gain, says research
As many as 151 items of Indian exports to China have the potential to replace identical products India’s northern neighbour imports from the US, an internal research paper of the Commerce Department has said. Read more here
Top PE investors seek details about Yes Bank
Private equity investors Blackstone Group, Apax Partners and Warburg Pincus are seeking more details of Yes Bank Ltd’s exposure to stressed loan accounts before committing to an equity infusion, potentially delaying the lender’s fundraising plan, two people directly aware of the negotiations said, reports LiveMint.
Central public sector enterprises to merge or list subsidiaries
The government will push central public sector enterprises (CPSEs) to either merge subsidiaries or list them. A senior government official said this may be kickstarted by coal sector behemoth Coal India(CIL) which has eight subsidiaries, of which five are profit-making, reports The Economic Times.
High retail inflation in healthcare pinching pockets
Farmers are distressed, industrial producers have taken a hit, but the same cannot be said of health service providers. A detailed analysis of data related to rates of retail inflation reveals that cost of health care services is on the rise, reports The Hindu BusinessLine.