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Top 10 biz headlines: Air India's global server down, US-India ties, & more

From 150 Air India flights delay to US firms moving base to India, Business Standard brings you top 10 business stories that made news on Saturday

BS Web Team 

Air India, Air India flight

150 delayed over server breakdown, thousands stranded

Delays and confusion blighted the weekend for thousands of Air India passengers as more than 150 flights of the airline, out of its main hubs of Delhi and Mumbai, were disrupted because of a six-hour breakdown in its server. Read more here

Puri, Sobti may take chairman's office if bank directors' age cap is raised

The Reserve Bank of India (RBI) has been “informally sounded out” on whether it can look into the matter of increasing the age limit for directors on banks’ boards, currently pegged at 70 years, and align it with the Companies Act, where the prescribed age limit is 75 years. Read more here

200 US firms aim to move production base from China to India post-LS polls

About 200 American companies are seeking to move their manufacturing base from China to India post the general elections, a top US-based advocacy group has said, observing that there is a fantastic opportunity with firms looking at alternatives to the Communist giant. Read more here

Tyre makers to invest Rs 20,000 cr in 3 years as demand sees uptick

Tyre makers will invest around Rs 20,000 crore over the next three years as the industry is optimistic that demand would grow by 7-9 per cent during FY19-23. Read more here

As oil bulls on, hedge funds place bets for longest run in 13 years

Oil is on its longest bull run in 13 years, fueling a rally that has US President Donald Trump fretting about higher prices. Read more here

Jaypee Infratech lenders to vote on Suraksha offer next week: Reports

Lenders of debt-ridden Jaypee Infratech will put to vote on April 30 the offer of Mumbai-based Suraksha Realty for acquiring the realty firm, sources said. Read more here

Bihar's crackdown on crime has spelt doom for Munger's gun factories

“In the 1930s, my forefathers used to sell guns on the streets near the fort area. Back then, guns were manufactured in every home in the neighbouring Maksaspur village,” says Sanjay Kumar, owner of Baijnath & Co, a gun manufacturing unit in Munger. Baijnath & Co is one among the 36 gun manufacturing units in Munger’s gun factory zone. Read more here

US-India bilateral exchange up 12% in 2018 amid the noise of trade war

Amid the hullabaloo over the trade war between India and United States, bilateral exchange of goods and services between the two nations has risen 12.6 per cent to $142.1 billion in 2018 from $126.2 billion in 2017. Read more here

Child rights body asks states to stop sale of Johnson's baby shampoo

The apex child rights body has asked all states to stop sale of Johnson's baby shampoo after its sample was found to be of substandard quality in a lab test. Read more here

Mid- and small-cap stocks' risk-reward profile more attractive currently

The benchmark large-cap index (Nifty 50 Index) set another new all-time high recently. However, investors looking either at their direct equity portfolios or equity fund-based portfolios are likely to see not only underperformance vis-à-vis the benchmark, but also the possibility of negative returns. Read more here

First Published: Sun, April 28 2019. 08:06 IST
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