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Times of India | Business News

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'We are not a fractured team,' says IndiGo while admitting 'big companies have differences'


IndiGo is not a “fractured” team and the hiring of law firms by its two promoter-cum-co-founders dates back four years when the airline went public. ​​The budget carrier on Saturday night sought to convey this message after it became known that its promoters Rahul Bhatia and Rakesh Gangwal had hired law firms to sort out differences between them, which led to the scrip tanking 9% on Thursday.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/we-are-not-a-fractured-team-says-indigo-while-admitting-big-companies-have-differences/articleshow/69390763.cms

US warns airliners flying in Persian Gulf amid Iran tensions


The warning relayed by US diplomatic posts, that commercial airliners flying over the wider Persian Gulf faced a risk of being "misidentified", underlined the risks the current tensions pose to a region crucial to global air travel. This all takes root in Trump's decision last year to withdraw from the 2015 nuclear accord between Iran and world powers.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/us-warns-airliners-flying-in-persian-gulf-amid-iran-tensions/articleshow/69384220.cms

Is Trump's new immigration policy really that bad?


Young, rich, speak English and know your municipality's bye-laws? Well, then the land of the free, the USA, beckons you as President Donald Trump, on the advice of his son-in-law Jared Kushner, proposed a new immigration policy called the Build America visa to replace the green card visa for permanent residency.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/is-donald-trumps-new-immigration-policy-really-that-bad/articleshow/69387771.cms

Insurers can’t deny cover for mental illness: IRDAI


Insurance regulator IRDAI on Friday came out with new rules that will have widespread ramifications for health insurers and the general public. Insurers henceforth cannot decline coverage to those who have used opioids or anti-depressants. Nor can they exclude those with a history of clinical depression, personality disorders, sociopathy, psychopathy, or neurodegenerative disorders.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/insurers-cant-deny-cover-for-mental-illness-adventure-sports-enthusiasts/articleshow/69381907.cms

US may scale back Huawei trade restrictions


The US commerce department said on Friday it may soon scale back restrictions on Huawei Technologies after this week's blacklisting would have made it nearly impossible for the Chinese company to service its existing customers.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/us-may-scale-back-huawei-trade-restrictions-to-help-existing-customers/articleshow/69386655.cms

Are CEOs becoming more unethical?


While the share of CEOs booted out from office last year wasn't anywhere near the all time high in this century -- 5.1% in 2008 -- it's still the highest in the 10 year period between 2009-18. More importantly, of the total CEOs who were sacked, 2018 saw the highest number of these corner office occupants being shown the door for ethical, rather than financial reasons.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/are-ceos-becoming-more-unethical/articleshow/69384677.cms

IOC taps US equity oil to fill Iran void


Indian Oil Corporation chairman Sanjiv Singh on Friday said the term contracts have been signed with Equinor (formerly Statoil) of Norway and Sontrach of Algeria for a total volume of 4.6 million tonne in 2019. According to US agencies, both companies have a stake in oil and gas fields in the US. This means that India has substituted Iranian supplies with US equity oil.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/ioc-taps-us-equity-oil-extra-saudi-supplies-to-fill-iran-void/articleshow/69381168.cms

Why are low-cost airlines flying business class?


Low-cost carrier SpiceJet entered the full-service segment offering business class tickets this month becoming the second budget carrier to do so after GoAir. IndiGo is planning to introduce business class on its long-haul flights. So, what's getting no-frills airlines to upgrade?

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/why-are-low-cost-airlines-flying-business-class/articleshow/69385467.cms

Spencer's Retail to acquire Nature's Basket


RP-Sanjiv Goenka Group’s retail arm Spencer’s Retail has acquired food and grocery retail chain Nature’s Basket from Godrej Group in an all-cash deal of Rs 300 crore. This will give Spencer’s an all-India footprint as the Godrej retail firm has a strong presence in Mumbai and Pune.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/spencers-retail-to-acquire-natures-basket-for-rs-300-cr/articleshow/69375249.cms

Poor rain may hit rural demand: Nestle CMD


Food inflation, as measured by the wholesale price index, has soared to a 33-month high.“If monsoon is less than optimal, definitely there will be a dampening effect as far as rural demand is concerned, one has already started seeing those manifest,” said Nestle India chairman Suresh Narayanan. India’s relatively stable performance can change due to below-normal monsoon.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/poor-rain-may-hit-rural-demand-nestle-cmd/articleshow/69381911.cms

ICICI Bank junks ranks, scraps executive symbols


In a major HR shift, ICICI Bank has flattened its top management by getting rid of all grades of deputy general manager (GM) and above. Management executives are now known by their role and there are no grade-based benefits. The bank has also got rid of all symbols of hierarchy — no longer can anyone guess an executive’s seniority based on the size of his car or access to the executive dining room.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/icici-bank-junks-ranks-scraps-exec-symbols/articleshow/69380649.cms

In trade war with US, China's GDP may fall 1%


A high ranking Chinese official has said that the ongoing trade war with the US could slash China's GDP by one per cent, in a first such admission by Beijing that the tariff war with Washington is biting the world's second largest economy. The Chinese economy which is on a downward trend slowed down to 6.8% last year.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/trade-war-with-us-could-slice-1-of-chinas-gdp-warns-top-chinese-official/articleshow/69378096.cms

Will green card turn into 'Build America' visa?


Donald Trump has said he will replace the existing green cards with 'Build America' visa while unveiling a new merit and points-based immigration policy that seeks to increase the quota for highly-skilled workers from 12 to 57%. Every year the US issues nearly 1.1 million green cards.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/donald-trump-proposes-to-replace-green-card-with-build-america-visa/articleshow/69376428.cms

IT firm sues US govt for denying H-1B visa to Indian


A Silicon Valley-based IT company has filed a lawsuit against the US government for denying the most sought-after H-1B visa to a highly qualified 28-year-old Indian professional, terming the renunciation "arbitrary" and a "clear abuse of discretion".

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/silicon-valley-based-it-firm-sues-us-government-for-denying-h-1b-visa-to-indian-professional/articleshow/69371313.cms

Airtel's Rs 25,000 cr rights issue oversubscribed


Telecom operator Bharti Airtel said on Friday that its about Rs 25,000 crore rights issue has been "over-subscribed" as per the preliminary information received.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/bharti-airtels-rs-25000-crore-rights-issue-oversubscribed/articleshow/69377801.cms

Corporation Bank posts loss of Rs 6,581 cr in Q4


Public sector lender Corporation Bank on Friday said its loss widened to Rs 6,581.49 crore during the fourth quarter ended March 31, mainly due to higher provisioning for bad loans.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/corporation-bank-posts-loss-of-rs-6581-crore-in-q4-as-provisioning-doubles/articleshow/69377675.cms

Sensex shoots up 537 pts; Nifty ends above 11,400


Equity indices finished the week with a huge gain as focus shifted on the exit polls results, scheduled to be released on May 19. The benchmark BSE sensex on Friday soared 573 points or 1.44 per cent to close at 37,931, while the broader NSE Nifty moved 150 points or 1.33 per cent to settle at 11,407.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/sensex-shoots-up-537-points-nifty-ends-above-11400/articleshow/69373586.cms

Govt declines to share Swiss black money details


Replying to an RTI query, the finance ministry said India and Switzerland share information on black money on a case to case basis as per the investigations being carried out. The ministry added that It is an ongoing process and the information is "governed by confidentiality provisions". The RTI sought information about individuals, firms in black money cases.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/citing-confidentiality-government-declines-to-share-black-money-details-received-from-switzerland/articleshow/69371715.cms

Int'l cybercrime gang which stole $100m busted


The US and European police said on Thursday they have smashed a huge international cybercrime network that used Russian malware to steal $100 million (89 million euros) from tens of thousands of victims worldwide.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/international-cybercrime-gang-which-stole-100-million-busted/articleshow/69370119.cms

Trump’s immigration plan may benefit Indians


US Prez wants immigration to be based on skill-set of people and not family relations. For India, the proposed changes, which have to meet legislative approval, could mean a significant transformation in the kind of people who can immigrate to the US: Educated, English-speaking aspirants with specific skills, job offers, and ability to assimilate into American culture.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/donald-trumps-immigration-plan-may-benefit-indians/articleshow/69368369.cms

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