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Business / Business Today

US budget deficit surges to record $2.81 trillion

Last month's deficit was sharply lower than June's USD 864 billion, in part because the government collected a record amount tax revenue in July - USD 563 billion - after extending the filing deadline to July 15

13 Aug 2020 8:43 am
IPL may get new bidder as edu-tech firm Unacademy eyes title sponsorship

While no one from Unacademy was prepared to speak on the issue, an industry insider, who is privy to the Edu-tech company's preparations to file a bid, said the firm is ready to take the big plunge

13 Aug 2020 8:32 am
China to extend punitive anti-dumping tariff on Indian fibre optic product

The punitive tariff on single-mode optical fibre takes effect from August 14 and lasts for five years, with tariffs ranging between 7.4 percent and 30.6 percent depending on the specific Indian manufacturers

13 Aug 2020 8:11 am
DGGI uncovers GST evasion worth Rs 17.2 cr after multiple searches

The searches have indicated substantial quantities of cement and clinker have been supplied clandestinely without payment of Goods & Service Tax (GST) in Madhya Pradesh and Uttar Pradesh

13 Aug 2020 7:56 am
Apple supplier Foxconn posts $778.5 million profit in Q2

In the third quarter, Foxconn expects overall revenue to post a yearly double-digit decline and revenue from the consumer electronics division to drop about 10% from a year earlier

13 Aug 2020 7:43 am
L&T, GMR, Bombardier, Alstom among 23 companies interested in running private trains

The prospective bidders who participated in the pre-application conference on Wednesday raised a number of queries related to procurement of trains, fares, operations and maintenance and eligibility criteria

12 Aug 2020 11:31 pm
More thumbs down for Sanjay Dutt, Alia Bhatt's 'Sadak 2' than thumbs up

The trailer has garnered more than 7 million views on YouTube with 3.1 million dislikes against 182k likes on Fox Star Hindi YouTube channel

12 Aug 2020 11:03 pm
No resolution in sight even after 3 years for Era Infra insolvency

The committee of creditors is yet to approve either of the two resolution plans that the Era Infra resolution professional has received so far - the reason being legal disambiguity of the resolution plans submitted

12 Aug 2020 10:01 pm
Congress spokesperson Rajiv Tyagi passes away aftter cardiac arrest

Tyagi suffered a heart attack soon after a TV debate and fell unconscious at his residence in Vaishali area of Ghaziabad. He was rushed to the Yashoda Hospital, where doctors failed to revive him

12 Aug 2020 9:29 pm
Russia names first COVID-19 vaccine 'Sputnik V' in reference to space race

Russian government stated that Russia Development Investment Fund (RDIF) finances the production of the Sputnik V based on production capacities of its portfolio companies - R-Pharm and Binnopharm

12 Aug 2020 9:11 pm
Chinese Hawala scam: Accused used Indian name to secure Aadhaar, PAN card, passport

Chinese Hawala racket accused Luo Sang was arrested by Delhi police in connection to a Hawala scam in 2018, but was eventually let off by the court

12 Aug 2020 8:10 pm
Centre-appointed panel suggests two formats for business responsibility reporting by companies

The panel, constituted by the Ministry of Corporate Affairs in 2018 has suggested a comprehensive format and a lite version, and also called for implementation of the reporting requirements in a gradual and phased manner

12 Aug 2020 8:05 pm
SEBI slaps Rs 8 lakh penalty on India Advantage Securities Pvt Ltd

In its order, Sebi said that some of the clients' accounts were settled with a delay and that mandatory quarterly settlement of clients' accounts was not done on various instances

12 Aug 2020 7:57 pm
Draft EIA 2020: 'Go' and 'No Go' environment rules for coal block allocation diluted, says Jairam Ramesh

The job of the Union Minister for Environment and Forests is not that it clears as many industrial projects as possible. It is to ensure that forest land and the environment are protected and saved, says Jairam Ramesh

12 Aug 2020 7:46 pm
Draft EIA 2020 against UN Climate Change Agreement, says Aaditya Thackeray

In a letter to Prakash Javadekar, Thackeray red-flagged the provision for allowing up to 50 per cent expansion of any existing project without public consultation and expansion of up to 25 per cent without going through an EIA process

12 Aug 2020 7:46 pm
Tata Tele Maharashtra Q1 results: Loss widens to Rs 1,070 crore in April-June quarter

Tata Teleservices' loss widened on account of the company making provision of Rs 776.77 crore to be paid to the government.

12 Aug 2020 7:26 pm
Indian-American Kamala Harris' nomination adds 'fuel to fire' for China-US conflict: Chinese observers

Harris in the past called for increasing pressure on China for human rights violations against Uygur Muslims of Xinjiang and the crackdown against the pro-democracy movement in Hong Kong

12 Aug 2020 7:08 pm
TRAI chairman says Telcos evolving into digital networks is a positive sign

Large telecom companies are using artificial intelligence, big data and machine learning in a significant way already to improve services and optimise resources, he said.

12 Aug 2020 6:47 pm
Rebooting Economy XVI: How governments run shadow banking and risk financial stability

That shadow banking was at the core of the financial sector meltdown that led to the Great Recession of 2007-08 is well documented and so is the fact that it remains big and powerful enough to cause serious financial crisis and yet, India and the US continue to promote it

12 Aug 2020 6:33 pm
Bharat Forge share gains 7% despite reporting loss in Q1

Share price of Bharat Forge touched an intraday high of Rs 442, a gain of 7.03%. Later, the share closed 5.28% higher or Rs 21.80 at Rs 434.75 on BSE

12 Aug 2020 6:30 pm
Loan recast: NBFCs may see rise in refinancing needs, says report

A higher quantum of restructured assets would clearly reflect higher asset quality challenges for NBFCs and could restrict their ability to mobilise funds from banks and capital markets, India Ratings and Research said in a report

12 Aug 2020 6:29 pm
Sameer Gehlaut steps down as Indiabulls Housing chairman; SS Mundra to take on the mantle

Gehlaut said he has taken up the position of Chief Executive Officer of Indiabulls Ventures and going forward he would like to focus full time on growing its consumer business in finance and healthcare

12 Aug 2020 6:15 pm
Coal India seeks extension of freight concession for coal

Coal India Ltd (CIL) said in a statement that the move is aimed at broadening its client base and bringing in more customers under import substitution plans

12 Aug 2020 6:08 pm
Sensex, Nifty end lower after three sessions as pharma stocks fall

Domestic benchmarks fell majorly by Wednesday's opening bell, with BSE 30-share Sensex trading 218 points lower at 38,188 and NSE Nifty 50 falling 72 points lower at 11,250. Although, market indices recovered from losses and traded bit lower, amid the positive opening of European indices

12 Aug 2020 5:54 pm
Forbes' highest-paid actors of 2020 list: Akshay Kumar only Bollywood star in top 10

Akshay Kumar, the only Bollywood star in the top 10, landed in sixth place with earnings of $48.5 million. Most of his income came from product endorsements

12 Aug 2020 5:52 pm
InterGlobe Aviation shares rise 12% as airline plans to lease back 12 ATR aircraft

In another update, InterGlobe Aviation's board approved to raise Rs 4,000 crore through sale of equity shares to institutional investors by way of a qualified institutions placement

12 Aug 2020 5:41 pm
JMC Projects share price rises 13% after firm wins orders worth Rs 1,363 crore

JMC Projects stock opened with a gain of 10.22% at Rs 53.40 against previous close of Rs 48.45 on BSE

12 Aug 2020 5:38 pm
CGPA requests Commerce Minister Piyush Goyal not to reduce import duty on tea

CCPA chairman Vivek Goenka in a letter to Goel said that any such move will lead to erosion of domestic prices and subsequently affect the economic viability of the tea gardens and livelihood of lakhs of people

12 Aug 2020 5:34 pm
COVID-19 vaccine: Russian health minister says first batch will be out in 2 weeks

While, Russian President Vladimir Putin and other officials have said that the coronavirus vaccine is completely safe, the country's decision to grant approval to it even before the final trial has raised concerns

12 Aug 2020 5:33 pm
Reliance Foundation's new partnership with W-GDP, USAID to bridge gender digital divide in India

The partnership was announced at W-GDP event hosted by Stephen Biegun, Deputy Secretary of United States (US) and with Ivanka Trump, Advisor to the President of the US, and Bonnie Glick, Deputy USAID Administrator

12 Aug 2020 5:25 pm
GST intelligence detects Rs 17 cr tax evasion by cement manufacturer in MP

GST intelligence officials also conducted multiple searches in the states of Madhya Pradesh and Uttar Pradesh from August 5 to August 11 at various premises belonging to the cement manufacturer located at Maihar, Satna and their registered dealers and distributor

12 Aug 2020 5:18 pm
Chemists not stocking enough medical abortion drugs; low availability puts women's lives at risk

As many as 79 per cent chemists in the state of Assam, Haryana, Delhi, Madhya Pradesh, Punjab, and Tamil Nadu, have emptied their stock of medical abortion pills in the months of the January-March period

12 Aug 2020 4:37 pm
PM Modi to launch new tax scheme to reward honest taxpayers on Aug 13

Launch of platform by PM Modi will carry forward journey of direct tax reforms in India; Nirmala Sitharaman and Anurag Singh Thakurto be present at launch event

12 Aug 2020 4:36 pm
Saif Ali Khan and Kareena Kapoor all set to welcome second baby, confirms the couple

Saif Ali Khan and Kareena Kapoor had tied the knot in 2012

12 Aug 2020 4:35 pm
PVR share climbs over 9% after rights issue subscribed 2.24 times

PVR share touched an intraday high of Rs 1228.7, gaining 9.35% on BSE.

12 Aug 2020 3:59 pm
How BYJU's pivoted its business model from offline to online

During the lockdown Byju's started offering personalised online coaching by introducing live classes. These scheduled classes are to help students solve their doubts and get one-on-one guidance

12 Aug 2020 3:50 pm
Minda Industries share price climbs over 7% after board fixes price for rights issue

Following the update, shares of Minda Industries touched an intraday high of Rs 300.65, rising 7.13% against the earlier close of Rs 280.65 on BSE. Minda Industries shares have gained after 2 days of consecutive fall

12 Aug 2020 3:42 pm
24x7 power supply, complaints redressal in fixed time; cabinet to okay new consumer charter soon

In an exclusive interview with Business Today, Union Minister of Power, New and Renewable Energy RK Singh said the government is working on making policies that are consumer-centric and bring attitudinal change among discoms to provide better services

12 Aug 2020 3:34 pm
Mamata Banerjee claims unemployment rate in West Bengal reduced by 40% amid COVID-19 pandemic

Mamata Banerjee said that West Bengal has seen as a decrease in the unemployment rate at a time when the country is witnessing an all-time high of 24 per cent joblessness

12 Aug 2020 3:06 pm
NMDC raises iron ore rates by Rs 300 to Rs 2,950 per tonne with immediate effect

he last revision, effective July 31, was announced on August 3, when NMDC had fixed the price of iron lumps at Rs 2,650 per tonne and of fines at Rs 2,360 a tonne

12 Aug 2020 2:46 pm
Pranab Mukherjee health update: Former President remains critical, on ventilator support

Former President Pranab Mukherjee was admitted to R&R Hospital in a critical condition on Monday, followed by a brain surgery. Mukherjee, 84, also tested COVID-19 positive prior to the operation

12 Aug 2020 2:40 pm
Pranab Mukherjee health: 'May God do whatever is best for him,' prays daughter Sharmistha Mukherjee

Sharmistha Mukherjee, who is a Congress leader, said her father has fallen critically ill just a year after he received the 'Bharat Ratna' -- the country's highest civilian award

12 Aug 2020 2:26 pm
Chinese Hawala racket: Accused assumed Indian identity; operated over 40 bank accounts, reveals I-T probe

Accused was representing many Chinese firms for Hawala operations in India; with help of some employees at Bandhan Bank and ICICI Bank, he was infusing around Rs 3 crore through Hawala daily

12 Aug 2020 2:14 pm
US Presidential election 2020: Who is Kamala Harris? All you need to know about Joe Biden's running mate

Kamala Harris was born to two immigrant parents: a black father and an Indian mother. Her father, Donald Harris, was from Jamaica, and her mother, Shyamala Gopalan, a cancer researcher, and civil rights activist, hailed from Chennai

12 Aug 2020 2:03 pm
UK falls into recession as GDP slumps 20.4% in April-June

The slump recorded by the Office for National Statistics follows a 2.2% quarterly contraction in the first three months of the year. As such, the UK economy is in a recession - commonly defined as two quarters of negative growth

12 Aug 2020 2:00 pm
CHSE Odisha Class 12 Science results released: Check results on orissaresults.nic.in, chseodisha.nic.in

This year the results have been declared based on 'Best of three' method has some exams could not be conducted because of COVID-19 pandemic

12 Aug 2020 1:40 pm
HDFC stock gains for 3rd straight day on raising capital through QIP, NCDs

Following the news update, shares of HDFC recovered from early losses and traded 0.63% higher to touch an intraday high of Rs 1,837 as against the earlier closing of Rs 1,825.35 on BSE. The highly volatile share has risen 2.93% in the last 3 days of gain

12 Aug 2020 1:30 pm
Kerala plane crash: Air India Express says 85 injured passengers discharged from hospitals

The airline further stated in its press release that various surgeries have been carried out successfully in respect of many of the injured passengers

12 Aug 2020 1:30 pm
Need to ensure Russian COVID-19 vaccine is safe before mass administration: AIIMS Director Randeep Guleria

The AIIMS director says that even if the vaccine is successful in building immunity against COVID-19, it is important to ensure whether the vaccine is effective and safe

12 Aug 2020 1:13 pm
Boeing customers scrub 400 orders for 737 MAX jets; deliveries slump

Based on a tighter accounting standard, Boeing said order cancellations and conversions now stand at 864 for the MAX, recertification for which is still hanging in the balance

12 Aug 2020 12:39 pm