US officials have said TikTok under its Chinese parent poses a national risk because of the personal data it handles. Trump said on Friday he was planning to ban TikTok in the United States after dismissing the idea of a sale to Microsoft. But following a discussion between Trump and Microsoft CEO Satya Nadella, the … Read more
By far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7 %, the government said Thursday. The Commerce Department’s estimate of the second-quarter decline in the gross domestic product, the total output of goods and services, marked the … Read more
Though Advent did not provide any financial details or the percentage of the stake to be acquired, sources in know of the matter said the deal gives RA Chem Pharma an enterprise value of around Rs 1,000 crore. They also said the PE firm is acquiring up to 60 per cent stake in the pharmaceutical … Read more
Softbank-backed Grofers has advanced its plan to launch an initial public offer by the end of next year after its profitability path zoomed during the lockdown period, a top official of the company said. Grofers co-founder and CEO Albinder Dhindsa told PTI that the company started making operational profit in January and expects to become … Read more
A steep decline in cigarettes and hotels revenues due to the nationwide lockdown, imposed to contain the Covid-19 pandemic, dragged diversified conglomerate, ITC’s profit before tax (PBT) 33.81 per cent to Rs 3,435.88 crore in the June quarter. Revenues from operations fell 17.21 per cent to Rs 10,478.46 crore. Profit after tax was down by … Read more
And is only a third party application provider. Google, in an affidavit, has said the PSO authorised by the Reserve Bank of India (RBI) is the National Payment Corporation of India (NPCI) which is the owner and operator of the entire unified payment interface (UPI) network. NPCI, in turn, authorises the payment service provider banks … Read more
In return for opening its dairy markets and slashing tariffs on farm goods as the two sides seek to shore up a new trade deal, three sources said. India accounts for 40% of US generic drug imports, including the anti-malarial hydroxychloroquine, touted by US President Donald Trump in the fight against the coronavirus. To win … Read more
The billionaire investor and Berkshire chief recently struck a $10 billion deal for Dominion Energy’s natural-gas assets, and looks to have spent between $5 billion and $6 billion on stock buybacks in recent weeks. Buffett has plenty of scope to make similar moves in the coming months, Shanahan said. “There is still a lot of … Read more
Since March, the bank has seen the exits of Abhay Aima, group head of private banking; Ashok Khanna, group head of secured vehicle loans; and Munish Mittal, chief information officer—all HDFC Bank veterans and close aides of its long-time managing director Aditya Puri. People aware of the matter have pointed to an expected top management … Read more