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

U.S. economy shrank at record-breaking 33% rate last quarter

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

India seeks new preferential treatment from US on drugs, other goods

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

RBI governor calls for resolution corporation for stressed lenders

That will revive stressed banks and finance companies as an alternative to the traditional practice of merging failed institutions with stronger ones. A bill which proposed the corporation in 2017, was withdrawn following criticism of a clause that sought to share cost of revival with depositors. “The traditional approach has been to merge a failed … Read more

‘Auto component industry’s revenue to fall 14-18% in FY21’

Due to weak demand from carmakers as well as from the replacement market amid low consumer sentiment due to the pandemic, rating agency ICRA said on Friday. “The industry has been affected by the pandemic and continuing lockdowns, directly impacting the economic environment and consumer sentiment,” the agency said in a statement. “Exceptions are mission-critical … Read more

A 30-year market veteran explains why we’re in ‘one of the nutsiest bubbles in the history of bubbledom’ — and warns of an ‘underwater’ economy for the next several years

Charles Biderman, a 30-year market veteran and founder of TrimTabs Investment Research, can’t believe his eyes. It’s safe to say that 2020 has been a peculiar year for markets. Despite a global pandemic, a 30 percent-plus stock plunge, 13% unemployment, and an economy that’s mostly still closed, the S&P 500 is trading less than 5% … Read more

Newport LLC, an Advisory Firm Serving Middle Market Companies, Releases Insights on The Pandemic Fracture and 5 Shifts That Will Shape Our Future

The COVID-19 Pandemic, and the policy response to it, have fractured everything we knew as “normal.” Long-standing tensions and social distancing have collided to throw our world into disarray leaving business leaders to search for the “new normal” while re-assessing their business. This Pandemic Fracture has given rise to 5 Shifts that will shape our … Read more

Nitin Gadkari warns of revenue losses, economic woes due to pandemic

India was expected to lose revenue of Rs 10 lakh crore due to the coronavirus crisis, Union minister Nitin Gadkari said on Wednesday. The situation was so grim that some states do not have money to pay salaries next month, he said, adding that the country needs to tackle the crisis with positivity. Addressing the … Read more