Top 10 business headlines: New plan for Jet, Maruti Q3 results, and more
New plan for Jet's recast on anvil; Naresh Goyal's stake may go below 20%
Within weeks of proposing a formula for restructuring the ailing private carrier Jet Airways, lenders — led by State Bank of India — are now working on a revised plan. The new plan, which could possibly see Jet founder chairman Naresh Goyal’s stake go down below 20 per cent from the current 51 per cent, is likely to be finalised in the next two weeks, according to sources close to the development. ( Read on...
ICICI Bank now distances itself from Sebi probe against Chanda Kochhar
Amid multiple probes against ICICI Bank’s former managing director and chief executive officer Chanda Kochhar, the private sector lender has urged the Securities and Exchange Board of India (Sebi) not to club its inquiry against her with that against the bank and sought a separate investigation. Click here to read
Don't cast net too wide: Jaitley on CBI's handling of ICICI Bank case
Union minister Arun Jaitley (pictured) on Friday questioned the Central Bureau of Investigation’s (CBI’s) approach to the ICICI Bank-Videocon loan case, and said that including too many bankers in the first information report (FIR) could hurt the interests of the banking industry. He said there should be a fundamental difference between “investigative adventurism” and “professional investigation”. Read on...
Subhash Chandra alleges 'negative forces' hampering ZEEL's stake sale
Essel Group founder and chairman Subhash Chandra, in an open letter, alleged that certain negative forces were trying to hamper the promoters’ stake sale in entertainment network Zee Entertainment Enterprises (ZEEL). Read on...
Zuckerberg plans to integrate WhatsApp, Instagram, FB Messenger: NYT
Facebook Inc Chief Executive Officer Mark Zuckerberg is planning to unify the underlying messaging infrastructure of its WhatsApp, Instagram and Facebook Messenger services and incorporate end-to-end encryption to these apps, the New York Times reported on Friday. Click here to read
Maruti Suzuki's Q3 profit misses expectations, slips 17% to Rs 1,489 crore
Maruti Suzuki, the country’s top carmaker, reported a lower-than-expected profit for the third quarter ended December 31, 2018. The profit slipped over 17 per cent to Rs 1,489 crore impacted by a combination of factors such as adverse commodity prices, forex movement and high discounts on cars. Click here to read.
L&T's December quarter net profit up 37%; order inflow down 12%
Engineering conglomerate Larsen & Toubro (L&T)'s December quarter net profit rose 37 per cent on improved operating performance and a higher other income. With general elections due in few months, the management expects order inflow to remain dull for some time. Read on...
MSE loans: BoB aims to cover every district with specialised branches
Bank of Baroda (BoB) plans to roll out specialised branches in each district of the country to cater to the credit requirements of micro and small enterprises (MSE) under the Pradhan Mantri Mudra Yojana and Stand Up India schemes, according to The Hindu BusinessLine report.
How Flipkart CEO rejigged senior staff to demolish top-heavy structure
Flipkart has come a long way since group CEO Kalyan Krishnamurthy began his second innings at the homegrown ecommerce company in 2016 — arguably one of its most troubled phases with Amazon snapping at its heels, according to The Economic Times report.
Beware of discounts: Not all deals on sale are good for you
Sales season is around the corner and many of you might be eagerly awaiting the big day. However, financial experts advise you against making impulsive purchases just to grab a hot sale, according to a Livemint report.