Business Standard - November 18, 2022

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November 18, 2022

Year-end fares go through the roof as airlines fly on low capacity

More than 75 planes are grounded; Goa to see 11% fewer flights in December

3 mins

Layoffs part of annual review, says Amazon

Even as social media platforms were flooded with news of employees being let go, Amazon said the current layoffs were part of the annual operating planning review process.

1 min

BFSI's share in India Inc profits hits record high

Surges to 41.5% in September quarter as other sectors face headwinds

3 mins

Stellantis India to make EV debut with Citroën in '23

Stellantis India is all set to drive into India's electric vehicle (EV) market with the Citroën e-C3 in January 2023, even as it plans to maintain the pace of launch of the internal combustion engine-powered models, the company's senior executive said on the sidelines of the launch of the fifth-generation Jeep Grand Cherokee.

2 mins

Will look into financials of Byju's: ICAI president

The Institute of Chartered Accountants of India (ICAI) will look at the financial disclosures of edtech major Byju's, the institute's president Debashis Mitra said on Thursday.

1 min

Future Group trying to delay arbitration: SC

The Supreme Court on Thursday said it was concerned that the Future group was trying to stall arbitral proceedings at the Singapore Arbitration International Centre (SIAC) in its legal row with Amazon.

1 min

2022 e-comm festival sales almost 2x of '19

E-commerce retailers led by Amazon and Flipkart garnered sales worth ₹76,000 crore during the one-month festival sale event almost double the pre-pandemic figure of ₹40,000 crore in 2019, according to a report by consulting firm Redseer.

1 min

Devanathan appointed Meta India head

Facebook parent Meta on Thursday appointed Sandhya Devanathan its vice-president for India operations, tasking her with bringing the organisation's business and revenue priorities together, and supporting long-term growth.

1 min

Layoffs part of annual review: Amazon

Even as social media platforms were flooded with news of employees being let go, Amazon said the current layoffs were part of the annual operating planning review process.

2 mins

Bharti Telecom plans to tap bond market to raise ₹7,000 crore

Bharti Telecom is planning to tap the bond market after a year's gap, with the company looking to raise as much as $858.32 million, or around ₹7,000 crore, through shorter tenor bonds, according to a term sheet seen by Reuters on Thursday.

1 min

McLaren parks in Mumbai

10 units of automaker's made-to-order India models sold in pre-launch phase

2 mins

India to flaunt Galeries Lafayette, courtesy ABFRL

OVER 200 LUXURY BRANDS TO COME UNDER ONE ROOF

1 min

ESMA row: EU, UK banks turn to their regulators

Express concerns about trade impact; disruptions seen in OIS, bond markets

3 mins

GM mustard: SC will only examine judicial aspects'

While hearing the plea challenging the sowing of genetically modified mustard in the country, the Supreme Court on Thursday said it will not get into the technical aspects of the case, but examine the judicial part.

1 min

Core inflation makes it tough to check prices

Core retail inflation rose from 6.3 per cent in September to 6.5 per cent in October even as the overall rate of price rise eased from 7.41 per cent to 6.77 per cent, indicating price pressures will sustain longer than expected.

2 mins

Tiruppur looks to diversify export basket

Move follows 21% YoY dip in October exports in the country's largest garment hub

2 mins

In ODOP push, Centre asks states to onboard most products on GeM

In an attempt to promote local artisans and give international visibility to their indigenous products, the Centre has asked states to onboard a large number of products from various emporia and artisans on the government's public procurement portal Government eMarketplace (GeM).

2 mins

UDAN levy on airlines to double due to inflation, route expansion

The civil aviation ministry has decided to double the per-flight regional connectivity levy it collects from airlines to 10,000 from January.

1 min

Not so fast: Infra woes slow down Vande Bharat trains

It was on February 15, 2019, that India saw the birth of its first semihigh speed train capable of clocking speeds of up to 160-200 kilometres per hour (kmph).

2 mins

Phase 3 trial of first home-grown drug for Alzheimer's begins

Now an Indian company working on the country's first home-grown, potentially affordable Alzheimer's drug Masupirdine (formerly SUVN 502) is raising hopes for 6.1 million senior citizens in India suffering from dementia.

3 mins

Coal India banks on SECL for output

The coal ministry and Coal India Ltd (CIL) are on South reckoning Eastern Coalfields Ltd (SECL) to achieve the output target for 2022-23 (FY23) despite the underperformance of the public-sector undertaking's subsidiary.

1 min

COP27: Informal Draft Has Little New For Poor Nations

Focus is on coal phase-down’, phase out and rationalise’ fossil fuel subsidies

2 mins

New FTX CEO blasts handling of financial info as 'total failure'

SAYS HE'S NEVER SEEN SUCH A \"COMPLETE FAILURE\" OF CORPORATE CONTROL

1 min

Musk floats possibility of someone succeeding him at Tesla

James Murdoch, a Tesla Inc director, testified in court on Wednesday that CEO Elon Musk has in the last few months identified someone as a potential successor to head the electric carmaker.

2 mins

Fed open to 50-bp hike at Dec meet

US Federal Reserve Governor Christopher Waller said he is now \"more comfortable\" with smaller rate increases going forward, though how high rates ultimately need to depends on how decisively inflation slows.

1 min

Republicans take control of US House by narrow margin

Republicans were projected to win a majority in the US House of Representatives on Wednesday, setting the stage for two years of divided government as President Joe Biden's Democratic Party held control of the Senate.

1 min

FDA nod for human consumption of lab-grown meat

Lab-grown chicken passed the first hurdle needed to bring the product to US supermarkets and dinner tables.

2 mins

Britain Is In Recession, Hunt Makes It Official

Windfalltax Hiked T0 35%, Extended To Power Firms. Electric Cars To Lose Tax Exemption From April 2025

1 min

Six months that make a leader

As time goes on, most elected leaders run out of ideas. Itseems to hold as true for the world as for India

4 mins

The uplink-downlink puzzle

In 1984, a US-based non-governmental organisation approached the Ministry of Information and Broadcasting (MIB) in India. The idea?

4 mins

REGULATIONS NOTA REMEDY FOR FRAUD: SK MOHANTY

Calling for better use of technology to identify corporate frauds, the Securities and Exchange Board of India (Sebi) whole time member SK Mohanty said on Thursday that regulations solely cannot be the remedy to frauds.

1 min

Betting big on Indian titans: Value of LIC's stake in RIL, Tata jumps

The market value of Life Insurance Corporation's stake in India's top conglomerates has witnessed a sharp rise in the past year, with Reliance Industries and Tata group companies topping the valuation charts, according to data sourced from the stock exchanges.

2 mins

Sebi asks IHH to get HCnodfor Fortis offer

The Securities and Exchange Board of India (Sebi) has asked Malaysia's IHH Healthcare Berhad to obtain an order from the Delhi High Court to allow the company to proceed with its proposed open offer for a 26.1 percent stake in Fortis Healthcare, a regulatory filing said on November 17.

1 min

Higher crude realisations have analysts upbeat on ONGC, Oil India

Oil India (OIL) and Oil and Natural Gas Corporation (ONGC) had similar performances in the July-September quarter (Q2). Both oil producing companies benefited from higher crude realisations.

2 mins

AS SOFTBANK CUTS PAYTM STAKE, MORE COULD FOLLOW

Shares of One97 Communications, the parent company of Paytm, fell over 10 per cent on the BSE on Thursday due to several block deals by investors as the preinitial public offering (IPO) lock-in period came to an end.

1 min

Start-up meltdown continues as pre-IPO investors look to sell stake

Paytm shares go down 10 per cent after SoftBank pares holding; Delhivery, PolicyBazaar under pressure

2 mins

Defensives are passé, time to look at high-beta plays

Indices hitting record highs has experts upbeat; investors expect strong foreign inflows

3 mins

What if timekeepers do away with leap second?

The International Bureau of Weights and Measures (BIPM-Le Bureau Internationale Poid et Mesure) meets tomorrow (November 18) at its headquarters in Versailles, France, to vote on various things.

3 mins

PE/VC investments drop 75% in October over last year: IVCA-EY

Private equity and venture capital (PE/VC) investments in October 2022 dropped 75 per cent compared with the same period last year, with total investments of $3.3 billion across 75 deals, including six large deals worth $2.2 billion, according to the IVCA-EY monthly PE/VC round-up.

1 min

A 'trishul' for decarbonisation

India must focus on power, industry and agriculture to achieve its 2070 target; but all three sectors are politically inconvenient to tackle

5 mins

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