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Monday, May 25, 2020
Franklin Templeton Mutual Fund, SEBI, Franklin Templeton, mutual funds, business news, indian express

Essel Infra defaulted on bonds: Franklin Templeton MF

May 24, 2020 1:15:16 am

The fund house said four of its fixed income schemes have invested in zero per cent Essel Infra Series 1 and zero per cent Essel Infra Series 2, which matured on May 22, 2020.

Hertz Files for Bankruptcy After Rental-Car Demand Vanishes

Hertz files for bankruptcy after rental-car demand vanishes

May 23, 2020 10:23:38 am

After the coronavirus pandemic decimated revenue, the car renter sought relief from lenders and a bailout from the U.S. Treasury Department.

Reliance Jio, Jio investment, KKR buys state in Jio, US private equity company-Reliance Jio deal, Business news, Indian express

KKR to buy 2.32% stake in Jio Platforms for Rs 11,367 crore

May 23, 2020 2:13:15 am

The transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

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Amazon India to add 50,000 temporary roles for warehousing, delivery network

May 22, 2020 5:23:24 pm

The opening of seasonal roles at Amazon India also comes amid the spate of layoffs by tech-led companies like Swiggy, Zomato, ShareChat, Ola and some others over the past few days.

GlaxoSmithKline to discontinue Zinetac tablets in India

May 22, 2020 2:44:52 pm

The company has made a decision to discontinue the manufacture and supply of Zinetac tablets (150 mg and 300 mg products) manufactured in India and will in due course request cancellation of the marketing authorisation associated with the drug, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.

Reliance Jio, Jio investment, KKR buys state in Jio, US private equity company-Reliance Jio deal, Business news, Indian express

US private equity giant KKR picks 2.32% stake in Jio Platforms for Rs 11,367 crore

May 22, 2020 8:44:05 am

Prior to this, Jio Platforms had raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic.

Merkel Says Lufthansa deal close as airline warns on urgency

Merkel Says Lufthansa deal close as airline warns on urgency

May 21, 2020 7:08:20 am

Lufthansa confirmed in a statement it’s in advanced talks with Germany’s Economic Stabilization Fund for aid of as much as 9 billion euros ($9.9 billion).

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Delhi HC rejects Monsanto plea to quash CCI probe

May 21, 2020 5:10:33 am

A single-judge Bench of Justice Vibhu Bakhru held that the order passed by the CCI was an administrative order which was well within the rights of the anti-trust body, and therefore could not interfered by at this stage.

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COVID-19 impact: Ola to layoff 1,400 employees as revenues crash 95 per cent

May 20, 2020 2:21:24 pm

In his email to the employees, Ola CEO Bhavish Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".

Hyundai Motor India launches Spirited New Verna starting from Rs 9.3 lakh

May 20, 2020 1:35:34 pm

Named as 'Spirited New Verna', the new offering comes in BSVI-compliant three engine variants of 1.5 litre petrol and diesel, and petrol 1-litre turbo engine. It also has automatic transmission options.

NMC founder owes over $250 million to Bank of Baroda

May 20, 2020 12:55:56 pm

The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the 19.13 billion rupees ($253 million) loans, according to a May 16 court order seen by Reuters.

Lockdown squeeze, work-from-home: several companies vacate office space

May 20, 2020 7:28:15 am

Food-tech platform Zomato, which recently asked 13 per cent of its workforce to search for new jobs, has also decided to shut 125 of over 150 offices worldwide. Its rival Swiggy has decided to lay off 1,100 people, in addition to scaling down on kitchen facilities and office infrastructure.

Airtel posts Rs 5,237 crore Q4 loss, full-year loss at Rs 32,183.2 crore

May 19, 2020 3:12:36 am

For the fiscal ended March 31, 2020, the company posted a net loss of Rs 32,183.2 crore, compared to a profit of Rs 409.5 crore for financial year (FY) 2018-19.

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As curbs ease, e-comm cos start taking orders for non-essentials

May 19, 2020 8:04:22 am

E-commerce platforms see orders for mobiles, garments, pressure cookers, among others.

Swiggy to lay off 1,100 employees as Covid-19 dries up restaurants' revenues, Swiggy to lay off 1,100 employees as coronavirus hits restaurant industry, swiggy layoff news, swiggy covid-19 news update, business news india, startup news india, indian express business news

Swiggy to lay off 1,100 employees as Covid-19 dries up restaurants’ revenues

May 18, 2020 2:04:51 pm

Swiggy’s decision comes close on the heels of its Gurugram-based rival Zomato asking over 500 of its employees to start looking for new jobs, as the restaurant industry stares at deep uncertainty in the aftermath of Covid19.

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Jio, Airtel, Voda Idea seek GST input credit dues or soft loans against pending refunds

May 17, 2020 12:50:23 am

A meeting in this regard was also held between the Cellular Operators Association of India (COAI) and DoT officials. The DoT, however, has not responded to the COAI or the telcos’ demands, according to sources.

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RIL rights issue set to open on May 20, closing date is June 3

May 17, 2020 12:38:32 am

This is the first rights issue by RIL in nearly three decades. It will be priced at Rs 1,257 a share in the share ratio of 1:15 (one rights share for every 15 shares held). The issue amount is Rs 53,125 crore.

Delhi gymkhana sealed in drive

Facing harassment as we denied MCA official club membership, says Delhi Gymkhana Club

May 17, 2020 12:33:07 am

The allegations by the Delhi Gymkhana Club are a part of its reply affidavit filed with the National Company Law Tribunal (NCLT). The Indian Express has reviewed a copy of the affidavit.

Zomato asks about 13% staff to start looking for jobs as firm foresees ‘not enough work’

Zomato asks about 13% staff to start looking for jobs as firm foresees ‘not enough work’

May 16, 2020 12:01:04 pm

The country’s restaurant industry by itself is staring at an estimated 7.3 million jobs on the line, with its challenges ranging from supplies to labour, skilled and semi-skilled, real estate to credit, overheads and utilities, delivery commissions and rental contracts.

Virgin Australia, Virgin Australia  debt, Virgin Australia  restructuring, Virgin Australia coronavirus

InterGlobe Enterprises to participate in sale process of Virgin Australia

May 16, 2020 1:07:17 am

InterGlobe Enterprises will compete against a number of behemoths including those in the private equity space and the aviation sector for picking up a stake in Virgin Australia.