Indian conglomerate Reliance denied a report Thursday that it was planning to sell a $20-billion stake in its retail business to US rival Amazon in a deal that could upend the country’s hugely lucrative e-commerce sector. The report published by Bloomberg on Thursday said that Reliance, owned by Asia’s richest man Mukesh Ambani, had offered … Read more
Alternet Systems, Inc. (USOTC: ALYI), like all electric (EV) vehicle industry participants, recognizes that battery cost and driving range are key factors in clearing the way to the widespread adoption of electric vehicles. Recent battery technology advances are now bringing the EV industry close to a wide spread adoption “tipping point”. The Great Battery … Read more
The inflation surge seen four decades ago kicked off “a fabulous ‘disinflationary,’ two-decade performance in both the economy and the stock market,” he wrote in a recent note. With policymakers setting the stage for a rise in inflation, the US is on track to usher in a similarly fruitful expansion, the strategist added. Detailed below … Read more
The RBI on Saturday came up with revised long format audit report (LFAR) norms with a view to improving the efficacy of internal audit and risk management systems. The LFAR, which applies to statutory central auditors (SCA) and branch auditors of banks, has been updated keeping in view the large scale changes in the size, … Read more
The topic of the meeting is ‘Final discussion on GDP growth, tax buoyancy of the Centre and the States, GST compensation, revenue deficit grant and fiscal consolidation’ The 15th Finance Commission will hold a meeting with its economic advisory panel on Friday to discuss issues of GDP growth, GST compensation and fiscal consolidation. Chairman N.K. … Read more
A majority of the companies that availed of the Reserve Bank of India (RBI) moratorium are rated below investment grade and were already grappling with a slowing economy before the pandemic began. Crisil analysed over 2,300 non-financial companies from its rated portfolio that availed of the moratorium after categorising them by rating, sector and size. … Read more
Female managers remain woefully under-represented in the fund industry, but they’re doing a better job picking stocks than their male counterparts, at least this year. Among some 500 large-cap US mutual funds, those with at least one-third of manager positions held by women have beaten those with no women by 1 percentage point in 2020, … Read more
Mark Zuckerberg has a net worth of $107 billion, but one of the lowest salaries at Facebook. Not including security and plane costs, the company he founded only pays him $1 a year in base salary. Meanwhile, many of Facebook’s other employees — from software engineers to product managers, copywriters, and lawyers — can expect … Read more
Berkshire said it acquired its stakes in Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp over approximately 12 months Berkshire Hathaway Inc said it has acquired slightly more than 5% of the shares in five large Japanese companies, marking a departure for Chairman Warren Buffett as he looks outside the United … Read more