Economy news - NewsLocker

Elon Musk's SpaceX raises $1.16 billion in equity financing

14-04-2021 17:48 via timesofindia.indiatimes.com

Billionaire Elon Musk's SpaceX has raised about $1.16 billion in equity financing over the last two months, the private rocket company said in an amended regulatory filing on Wednesday.

59% firms intend to give salary increments in 2021 despite COVID-19 pandemic woes: Survey

14-04-2021 17:25 via zeenews.india.com

According to staffing company Genius Consultants '10th Hiring, Attrition and Compensation Trend 2021-22', with this impressive growth rate, the market is expected to be stable, and the companies will also relook at their business continuity strategy along with strengthening the workforce.

What is a global minimum tax and how could it affect companies, countries: Here's an explainer

14-04-2021 17:16 via timesofindia.indiatimes.com

US Treasury secretary Janet Yellen has thrown the weight of the US government behind a push for a global corporate minimum tax rate, possibly carving a path to a long-sought deal updating international tax rules for the first time in a generation.

'Hiring to grow by 7% in Apr-June if further lockdowns not imposed'

14-04-2021 17:16 via timesofindia.indiatimes.com

The intent to hire in the current quarter is likely to rise by 7 per cent over the previous three months if further lockdowns and workplace operating rules are not enforced, mainly driven by demand in healthcare, pharmaceuticals, educational services, ecommerce and technology start-ups and IT, according to a report.

Airtel rejigs corp structure to sharpen focus on digital

14-04-2021 16:33 via timesofindia.indiatimes.com

Bharti Airtel on Wednesday announced a new corporate structure to sharpen the company's focus on driving the rapidly-unfolding digital opportunities while enabling it to unlock value.

Ma’s double-whammy marks end of China tech’s golden age

14-04-2021 16:04 via timesofindia.indiatimes.com

The full implications of Beijing’s rapid-fire moves against Jack Ma’s internet empire in recent days won’t be apparent for weeks, but one lesson is already clear: The glory days for China’s technology giants are over.

Infosys announces Rs 9,200 crore share buyback

14-04-2021 16:04 via timesofindia.indiatimes.com

India's software services company Infosys posted a 17.5% jump in quarterly net profit on Wednesday, lifted by large contract wins as the Covid-19 pandemic drove digitisation efforts in multiple sectors.

Hiring to grow by 7% in April-June if further lockdowns not imposed: Report

14-04-2021 16:04 via timesofindia.indiatimes.com

The intent to hire in the current quarter is likely to rise by 7 per cent over the previous three months if further lockdowns and workplace operating rules are not enforced, mainly driven by demand in healthcare, pharmaceuticals, educational services, ecommerce and technology start-ups and IT, according to a report.

Cos in India look to fill open roles internally: Report

14-04-2021 16:04 via timesofindia.indiatimes.com

The country's competitive talent market is fuelling a significant internal shifts within the organisation as 93 per cent of the companies polled in India said they are looking to fill open roles internally in the post-Covid-19 era, according to a report.

Most companies in India look to fill open roles internally: Report

14-04-2021 15:23 via timesofindia.indiatimes.com

The country's competitive talent market is fuelling a significant internal shifts within the organisation as 93 per cent of the companies polled in India said they are looking to fill open roles internally in the post-Covid-19 era, according to a report.

Infosys Q4 profit rises 17.5%; announces Rs 9,200 crore share buyback

14-04-2021 14:23 via timesofindia.indiatimes.com

India's software services company Infosys posted a 17.5% jump in quarterly net profit on Wednesday, lifted by large contract wins as the Covid-19 pandemic drove digitisation efforts in multiple sectors.

Infosys net profit rises 17.5 pc to Rs 5,076 crore in March quarter

14-04-2021 13:54 via zeenews.india.com

The company announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share.

Infosys profit rises 17.5% in Q4; announces Rs 9,200 crore share buyback

14-04-2021 13:47 via timesofindia.indiatimes.com

India's software services company Infosys posted a 17.5% jump in quarterly net profit on Wednesday, lifted by large contract wins as the Covid-19 pandemic drove digitisation efforts in multiple sectors.

TikTok’s founder net worth soars to $60 billion, becomes one of the richest men in the world

14-04-2021 13:26 via zeenews.india.com

Overall, the revenue of ByteDance grew 2x last year after the company expanded its play into areas such as ecommerce and online gaming.

'Toshiba CEO faced board ouster before $20bn buyout offer'

14-04-2021 13:11 via timesofindia.indiatimes.com

Toshiba board members planned to oust CEO Nobuaki Kurumatani before CVC Capital Partners launched a $20 billion buyout bid last week, telling him the day before the offer was announced they would replace him, people familiar with the matter said.

Jack Ma’s double-whammy marks end of China tech’s golden age

14-04-2021 13:11 via timesofindia.indiatimes.com

The full implications of Beijing’s rapid-fire moves against Jack Ma’s internet empire in recent days won’t be apparent for weeks, but one lesson is already clear: The glory days for China’s technology giants are over.

Amazon moves SC against order restraining Future-RIL deal

14-04-2021 12:00 via timesofindia.indiatimes.com

Future Retail on Wednesday said Amazon has approached Supreme Court against a Delhi high court order which stayed a single judge's order restraining Future Retail Ltd from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business.

Walmart-owned e-tailer Flipkart set to acquire Cleartrip in distress sale

14-04-2021 11:49 via timesofindia.indiatimes.com

Walmart-owned e-tailer Flipkart set to acquire Cleartrip in distress sale

Palm oil imports rise 57% in March, says trade body

14-04-2021 11:17 via timesofindia.indiatimes.com

India's palm oil imports in March jumped 57% year on year as refiners increased purchases of the tropical oil to reduce expensive sunflower oil imports, a trade body said on Wednesday.

Oberoi Group ties up with EESL to cut carbon footprint

14-04-2021 11:17 via timesofindia.indiatimes.com

The Oberoi Group has tied up with Energy Efficiency Services Limited (EESL), a JV of Union power ministry’s four PSUs, to implement initiatives including clean energy systems across its properties.

2021 Skoda Kodiaq facelift unveiled, boasts of refreshed interiors and exteriors

14-04-2021 11:12 via zeenews.india.com

The 2021 Kodiaq comes in multiple variants, including Style, Ambition, Sportline, L&K and RS. Buyers will get the option of selecting petrol or diesel variants on most of the models.

Fundraising via public issues more than doubled in FY21

14-04-2021 10:35 via timesofindia.indiatimes.com

The finance ministry on Wednesday said fundraising through public and rights issues surged 115 per cent and 15 per cent, respectively, in 2020-21 despite the uncertainty due to the Covid-19 pandemic.

Lockdowns to shave $1.25bn a week off economy

14-04-2021 10:19 via timesofindia.indiatimes.com

Amid surging pandemic cases forcing many states to curb mobility and businesses, a report has said these localised lockdowns in key economic hubs can cost the economy an average of $1.25 billion each week and may shave off 140 bps from the Q1 nominal GDP.

TikTok founder's fortune places him among world's richest

14-04-2021 09:59 via timesofindia.indiatimes.com

Just last year, the world’s most valuable startup, ByteDance Ltd, was being squeezed from all sides. The Donald Trump administration wanted the Chinese firm, which owns the ubiquitous TikTok video-sharing platform, to get rid of assets.

Mandatory gold hallmarking from June 1: Five quick points on what it means for you

14-04-2021 09:56 via zeenews.india.com

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In volume terms, the country imports 700-800 tonne of gold annually.

Good news! Uber Pledges free rides to amp up Covid-19 vaccination drive in Delhi NCR

14-04-2021 09:32 via zeenews.india.com

A user needs to enter a redeemable promo code '10M21V' to get a free ride to the vaccination hub in a safer and easier way.

7th Pay Commission latest updates on DA, DR hike: DA to increase from 17% to 28%, also check fitment factor

14-04-2021 09:31 via zeenews.india.com

According to the All India Consumer Price Index (AICPI) data release, between January and June 2021, at least DA can be increased by 4 percent.

Egypt 'seizes' Suez megaship, demands $1bn compensation

14-04-2021 08:30 via timesofindia.indiatimes.com

The megaship which blocked Egypt's Suez Canal and crippled world trade for nearly a week has been "seized" on court orders until the vessel's owners pay $900 million, canal authorities said on Tuesday.

Gold Price Today, 14 April 2021: Gold and silver prices getting expensive, check rates in your city

14-04-2021 08:13 via zeenews.india.com

Gold futures for June delivery on MCX on Tuesday closed at Rs 46,964, logging a gain of Rs 545 per 10 grams.

Flipkart set to acquire Cleartrip for USD 40 million in distress sale: Reports

14-04-2021 07:37 via zeenews.india.com

As per several financial daily reports, Flipkart-Cleartrip deal may be sealed in the next 10 days.

TCS to pay Rs 5,550 crore dividend in FY22

14-04-2021 07:34 via timesofindia.indiatimes.com

Tata Consultancy Services (TCS) will dole out a Rs 5,550-crore dividend, of which more than 70% will go to its largest shareholder Tata Sons. The dividend income from TCS will add to the kitty of the parent Tata Sons, which is preparing to submit a financial bid for the divestment-bound Air India and building new digital businesses in the wake of coronavirus.

Flipkart set to acquire Cleartrip in a distress sale: Reports

14-04-2021 07:29 via zeenews.india.com

As per several financial daily reports, Flipkart-Cleartrip deal may be sealed in the next 10 days.

BSE, NSE to remain closed today on account of Babasaheb Ambedkar Jayanti

14-04-2021 06:48 via zeenews.india.com

Stock markets regained footing on Tuesday after the previous session's massive selloff, tracking renewed buying interest in financial, bank and auto counters amid firm global cues.

Amid second Covid-19 wave, Indian airlines seek financial package from Centre

14-04-2021 06:31 via zeenews.india.com

In an important meeting of airline companies with the Secretary of the Ministry of Civil Aviation (MoCA) on Monday, most flight operators demanded financial assistance package from the government to deal with the second Covid wave."

Air India sale: Govt begins process for inviting financial bids, deal to conclude by September

14-04-2021 06:14 via zeenews.india.com

Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year.

E-tailers fret over Maha’s ‘essential’ products rule

14-04-2021 06:01 via timesofindia.indiatimes.com

It’s deja vu for ecommerce platforms in Maharashtra. The state’s decision to allow e-commerce deliveries only for essential products has triggered concerns among e-tailers over challenges of following the guidelines.

Dr Reddy’s may mop up $300m in Sputnik V sales

14-04-2021 06:00 via timesofindia.indiatimes.com

Dr Reddy’s Laboratories (DRL), which received permission from India’s drug regulator to import the Sputnik V vaccine, could potentially mop up around $300 million from its initial sales.

Adani Ports stock dips after removal from S&P indices

14-04-2021 06:00 via timesofindia.indiatimes.com

Adani Ports stock lost 1.6% in Tuesday’s strong market on the NSE, making it the biggest laggard among Nifty scrips. The slide came after the stock was removed from S&P Dow Jones sustainability indices because of its commercial relationships with Myanmar military.

Covid-19: Centre in talks with industry to ramp up oxygen supply

14-04-2021 05:56 via timesofindia.indiatimes.com

Covid-19: Centre in talks with industry to ramp up oxygen supply

Petrol, Diesel Prices Today, April 14, 2021: Fuel prices remain unchanged for 15th day; check prices in metro cities

14-04-2021 05:52 via zeenews.india.com

Central government makes up for Rs 32.98 per litre of the price of petrol in Delhi and sales tax or VAT of the state government constitutes Rs 19.55.
For diesel, the central excise adds up to Rs 31.83 and VAT to Rs 10.99. Besides, the price also includes a dealer commission of a minimum Rs 2.6 per litre on petrol and Rs 2 on diesel.

Covid surge stokes recovery worries, hits growth forecast

14-04-2021 05:41 via timesofindia.indiatimes.com

The surge in Covid-19 cases in several states across the country has stoked worries about the economic recovery under way, Investment banks are scaling down their growth projections, while others are voicing concerns over the second wave and its impact on recovery.

Covid: Centre in talks with industry for oxygen supply

14-04-2021 05:10 via timesofindia.indiatimes.com

The Centre is in talks with industry, especially steel plants and oil refineries, to step up supply of oxygen for meeting the requirements of Covid-19 patients. While the government has been tapping into surplus oxygen available with these sectors, over the last two-three days efforts have been initiated to get more supplies without affecting production.

IIP data must change for the better; infra investment to drive growth

14-04-2021 04:57 via financialexpress.com

Apart from a few segments led by automobile, tractors, 2 wheelers and FMCG products, the other segments of industry are yet to swim into the positive territory.

Flipkart set to acquire Cleartrip in distress sale

14-04-2021 04:52 via timesofindia.indiatimes.com

Flipkart, which is fighting a close battle with US e-tail giant Amazon for one-upmanship in India’s booming e-commerce market, will use Cleartrip to diversify and expand into other product categories, such as online bookings of hotels and flights, to boost its overall gross merchandise value (GMV).

Covid-19: Centre in talks with industry for oxygen supply

14-04-2021 04:52 via timesofindia.indiatimes.com

The Centre is in talks with industry, especially steel plants and oil refineries, to step up supply of oxygen for meeting the requirements of Covid-19 patients. While the government has been tapping into surplus oxygen available with these sectors, over the last two-three days efforts have been initiated to get more supplies without affecting production.

Govt not going for lockdowns in big way, says Nirmala Sitharaman amid COVID wave

14-04-2021 04:32 via moneycontrol.com

In a virtual meeting with World Bank Group President David Malpass, Sitharaman appreciated the initiatives of the international financial institution to increase the lending space for India to enhance availability of finance for development.

Malls, airports told to sell only BIS-certified toys

14-04-2021 01:53 via timesofindia.indiatimes.com

The government’s standards organisation has asked all malls and airports to ensure no non-BIS certified toys are sold within their premises. Indian has banned the sale of non-BIS certified toys from January 1.

Who is afraid of India’s fiscal policy?

14-04-2021 01:40 via financialexpress.com

With little resources to tackle the pandemic and kick-start economic recovery, India should receive debt relief in exchange for a commitment to align economic policies and newfound spending capacity with infrastructure investments and green growth. The next frontier of infrastructure investments will be in small cities and rural areas, where 60% of the population lives

Govt not going for lockdowns in big way, says FM

13-04-2021 23:18 via timesofindia.indiatimes.com

Amid surging coronavirus cases in India, finance minister Nirmala Sitharaman on Tuesday made it clear that the government would not go for lockdowns in a big way and only resort to local containment.

Water security: A dry future awaits the world?

13-04-2021 21:55 via financialexpress.com

As per the World Bank, at least $1 trillion is required in the next 10 years to meet water needs of 20% of global population