In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance

In a regulatory filing late Friday, ICICI Lombard said the boards of the two companies — ICICI Lombard and Bharti AXA General — had met on Friday and approved entering into definitive agreements for demerger of Bharti AXA’s non-life insurance business into ICICI Lombard through a Scheme of Arrangement. According to ICICI Lombard, the shareholders … Read more

Nesco plans over Rs 2,000 cr investment on business expansion in 5-7 years

To foray into the hospitality segment as well as expand its existing IT space offerings and add new exhibition centres. The company, which is into real estate, exhibition centre, food and beverages (F&B) and engineering businesses, is also planning to set up a convention hall at its Nesco Centre in Goregaon in suburban Mumbai. “We … Read more

US stocks will continue to outperform their global peers, but don’t expect a sustained value comeback, JPMorgan says

In a note published on Sunday, JPMorgan reiterated its view that growth stocks, led by technology, will continue to outperform their value peers. The continued outperformance of growth stocks relative to value stocks has been consistent with US stocks outperforming international stocks, JPMorgan said.   Growth stocks are poised to continue outperforming value stocks, as … Read more

Gaming giant Nvidia may acquire mobile chip giant ARM soon

The company had been battling competition like Qualcomm and Samsung for buying the chipmaker for over a year now, but a report from UK’s Evening Standard says it may win that race. While ARM doesn’t manufacture its own chips, the company owns the intellectual property (IP) for pretty much any mobile chipset you see today. … Read more

I-T officers to be fair, courteous; taxpayers should be honest, compliant: Charter

The tax department has committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers’ charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant. Prime Minister Narendra Modi launched the platform ‘Transparent Taxation – Honoring … Read more

Microsoft makes a comeback in smartphone business with its new Duo

Microsoft is back to selling smartphones for the first time since it abandoned its mobile business more than four years ago. The company began taking orders Wednesday for the Surface Duo, a new dual-screen Android device that costs USD 1,399 and begins shipping in September. The high-priced gadget is designed to impress, but is also … Read more

Volkswagen: India lacks in ease of doing business

As it lines up a fresh Rs 8,000-crore investment for India, German auto giant Volkswagen Group has said that it is not easy to do business in the country and warned that putting restrictions on, or delaying, imports of critical components from China is a retrograde measure and an “old socialist model, held good in … Read more