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Apple to stop iPhone SE, iPhone 6, 6 Plus, 6s Plus India sales: Report
short by Pragya Swastik / on 15 Jul 2019,Monday
Apple will reportedly stop selling its lower-priced smartphones iPhone SE, iPhone 6, 6 Plus and 6s Plus in India. The company reportedly does not want to chase volumes by discounting at the cost of profit in the country. These models will reportedly be phased out to increase the average selling price of iPhones in India and boost profit and revenue.
short by Pragya Swastik / 04:16 pm on 15 Jul
Saravana owner suffers heart attack, extremely critical: Doctors
short by Pragya Swastik / on 15 Jul 2019,Monday
Saravana Bhavan restaurant chain Founder and murder case convict P Rajagopal suffered from a heart attack on Saturday and remains extremely critical, doctors have said. Rajagopal, who is currently on ventilator support, surrendered in Chennai on July 9 to serve a life term. He had arrived in an ambulance with an oxygen mask strapped to his face to surrender himself.
short by Pragya Swastik / 08:00 pm on 15 Jul
Govt to impose ₹10,000 penalty on misquoting Aadhaar number: Report
short by Pragya Swastik / on 14 Jul 2019,Sunday
The government will reportedly begin imposing a ₹10,000 penalty on individuals who fail to quote their Aadhaar number accurately in the documents related to high-value transactions from September 1, 2019. These transactions include buying a car or home, travelling overseas or making investments. A similar penalty may be imposed on the person supposed to authenticate the identification number.
short by Pragya Swastik / 05:09 pm on 14 Jul
Bullet train passengers may be charged for extra baggage: Report
short by Pragya Swastik / on 14 Jul 2019,Sunday
The National High Speed Rail Corporation (NHSRCL) executing the Mumbai-Ahmedabad bullet train project plans to charge travellers for the bags they check in. "Basically, the idea is to discourage passengers from carrying heavy luggage," the NHSRCL said. Every coach is said to contain sufficient space for hand baggage and the last coach will have space for the extra check-in luggage.
short by Pragya Swastik / 08:10 pm on 14 Jul
Mathematician who cracked Nazi code for WWII win to be on £50 note
short by Pragya Swastik / on 15 Jul 2019,Monday
English mathematician Alan Turing, who helped Britain win the Second World War by cracking Nazi code, will appear on Bank of England's new £50 polymer note by the end of 2021. The note features a ticker tape of binary code that depicts his birthday (June 23, 1912). He committed suicide in 1954 after he was chemically castrated for being homosexual.
short by Pragya Swastik / 09:05 pm on 15 Jul
Leaving India big mistake, will return in 24 hrs: IMA scam accused
short by Pragya Swastik / on 15 Jul 2019,Monday
Bengaluru-based IMA Jewels ponzi scam accused Mansoor Khan, who is believed to be in Dubai, claimed in a video on Monday that he will return to India within 24 hours. "It was a big mistake to leave India...but certain circumstances forced me to do so," he said. "I don't even know my family's whereabouts in the country," he added.
short by Pragya Swastik / 06:50 pm on 15 Jul
Twitter spat between Mazumdar-Shaw, Pai on Godrej's hate crime remark
short by Pragya Swastik / on 14 Jul 2019,Sunday
A Twitter spat broke out between Biocon MD Kiran Mazumdar-Shaw and Infosys' ex-Director Mohandas Pai over Godrej Group's Adi Godrej's "Rising hate crimes can damage growth" remark on Saturday. As Mazumdar-Shaw tweeted, "well spoken", Pai said she's falling for a "fake narrative". "He says economy isn't in good shape n (and) we shd (should) not be in denial," Mazumdar-Shaw responded.
short by Pragya Swastik / 07:20 pm on 14 Jul
Spoke up when Infosys' core values were thrown into dustbin: Murthy
short by Pragya Swastik / on 14 Jul 2019,Sunday
Talking about concerns expressed by him after retirement from Infosys, Co-founder Narayana Murthy said he spoke up when he saw core values of Infosys were being thrown into the "dustbin". "(In) 2014 CEO (Sikka) was given 55% hike on (salary of) $7 million...COO was given a 30% hike," said Murthy. "No middle-level fellow was given salary increase," he added.
short by Pragya Swastik / 06:11 pm on 14 Jul
Hello Taxi's ex-CEO alleges ₹1,000 crore fraud by promoters
short by Pragya Swastik / on 15 Jul 2019,Monday
Delhi-based cab aggregator Hello Taxi's former CEO Saroj Mahapatra alleged that the company's promoters have siphoned off investors' money to the tune of ₹1,000 crore. He said that he and senior company officials are wrongly named in the fraud. Hello Taxi, which operates a multi-level marketing scheme and offers high returns, owes a huge amount of money to investors.
short by Pragya Swastik / 04:23 pm on 15 Jul
Oracle loses court appeal against $10 bn US govt contract
short by Dharna / on 15 Jul 2019,Monday
US-based Oracle has lost its legal challenge against US Pentagon's $10-billion contract for 'JEDI' cloud infrastructure, which it alleged unfairly favoured Amazon. The Federal Claims Court said there were no "organisational conflicts of interest" and because Oracle didn't meet bid's criteria, it can't allege prejudice in the bidding. The US can now award the contract to Amazon or Microsoft.
short by Dharna / 05:55 pm on 15 Jul
Huawei plans extensive job cuts at US research unit: Report
short by Dharna / on 14 Jul 2019,Sunday
Chinese technology giant Huawei is planning extensive layoffs across its US-based research and development arm Futurewei Technologies, the Wall Street Journal reported. Hundreds of about 850 employees at the unit are reportedly expected to be laid off, with some Chinese staff being given an option to return to China staying within Huawei. The US had blacklisted Huawei over espionage allegations.
short by Dharna / 05:05 pm on 14 Jul
The worst isn't yet over for the auto industry amid a slowdown in sales, Mahindra and Mahindra's MD Pawan Goenka said. "I suggest...government remove the cess on small cars and keep 17% single cess rate for large cars for next four-six months," he added. Diesel vehicle costs are expected to rise after BS-VI emission norms come into effect in 2020.
short by Dharna / 04:22 pm on 15 Jul
Air India, MTNL among 56 sick CPSEs with negative net worth
short by Dharna / on 15 Jul 2019,Monday
The government on Monday said 56 of its Central Public Sector Enterprises (CPSEs) were sick, having negative net worths. These loss-making public enterprises include Air India, MTNL, Bharat Coking Coal, Hindustan Cables, and Indian Drugs & Pharmaceuticals. In 2017-18, the enterprises had a collective net worth of negative ₹88,556 crore, with a total accumulated loss of ₹1.32 lakh crore.
short by Dharna / 08:18 pm on 15 Jul
The US Justice Department is now reportedly pursuing a criminal investigation into whether Johnson & Johnson (J&J) lied to public about cancer risks related to its 'Baby Powder'. Reports said a grand jury was examining documents about what J&J knew regarding any carcinogens in its products. A J&J spokesperson denied the new development, adding, "[It] doesn't contain asbestos...or cause cancer."
short by Dharna / 06:35 pm on 14 Jul
The notion that Income Tax Department snoops people's spending patterns on social media platforms to find tax evaders is a "misconception", Central Board of Direct Taxes (CBDT) Chairman PC Mody said. "We already get to know actual...financial transactions of people from authentic sources," he said. However, he said CBDT has deployed a data analytics system to profile entities' transaction trail.
short by Dharna / 09:16 pm on 14 Jul
Lufthansa expects the number of its passengers to rise four per cent this year, not seeing any "Greta effect" on booking levels, the German airline's CEO Carsten Spohr said. This follows activists led by 16-year-old Swedish activist Greta Thunberg boycotting air travel amid carbon emission concerns. "Climate change discussions aren't causing restraint with bookings. People want to fly," he said.
short by Dharna / 09:00 am on 15 Jul
Wholesale inflation falls to 23-month low of 2.02% in June
short by Dharna / on 15 Jul 2019,Monday
India's wholesale inflation, measured by the Wholesale Price Index (WPI), declined to a 23-month low of 2.02% in June, government data showed on Monday. The fall was driven by a decline in the prices of vegetables, manufactured products, fuel and power items. The inflation fell for the second time in a row, from 2.45% in the month of May 2019.
short by Dharna / 06:13 pm on 15 Jul
India's second-largest IT services firm Infosys has reported a 5.3% year-on-year rise in profit in the quarter ended June at ₹3,802 crore, beating market estimates. The company's shares rose by 7.2% on Monday, hitting an all-time high. Its first-quarter revenue grew by 14% to ₹21,803 crore from the year-ago period.
short by Dharna / 04:24 pm on 15 Jul
IndiGo-operator InterGlobe Aviation availed credit facility of around ₹2,577.75 crore in the first quarter for meeting its working capital requirements, filings showed. This is thrice the amount availed by it in the year-ago period. It secured ₹1,050 crore from Standard Chartered Bank in April, ₹660.32 crore from Crédit Agricole CIB in May, and ₹867.43 crore from Deutsche Bank in June.
short by Dharna / 12:06 am on 16 Jul
JSW Steel tells NCLT it's 'anxious' about BPSL fraud reports
short by Dharna / on 16 Jul 2019,Tuesday
JSW Steel on Monday informed the National Company Law Tribunal (NCLT) that it was "anxious" about the reports of alleged fraud at bankrupt Bhushan Power & Steel (BPSL). However, it added it wasn't backing out of BPSL's ongoing insolvency resolution process. Allahabad Bank and Punjab National Bank recently reported alleged frauds of ₹1,775 crore and ₹3,805 crore respectively by BPSL.
short by Dharna / 12:17 am on 16 Jul
IndiGo Co-Founder Rahul Bhatia has said that while he had extended personal loans to finance IndiGo from fiscal 2006-10, Co-Founder Rakesh Gangwal remained in "safe harbour" with equity exposure below ₹15 crore. He added that his IGE Group and Gangwal had a financial risk ratio of 80:1. Gangwal attempted to de-risk himself and pushed for IndiGo's sale, Bhatia further alleged.
short by Dharna / 10:21 am on 15 Jul
Dewan Housing Finance (DHFL) on Saturday reported a ₹2,223-crore standalone net loss in the quarter ended March, saying it's undergoing "substantial financial stress". DHFL said consistent credit-rating downgrades have impaired its ability to raise funds, possibly raising "doubts on its ability to continue as a going concern". Despite this, DHFL is taking active steps to monetise assets, it added.
short by Dharna / 03:50 pm on 14 Jul
Former Chief Economic Adviser Arvind Subramanian has said that the RBI's Financial Stability Reports in last four-five years failed to mention the potential liquidity crisis at Infrastructure Leasing & Financial Services (IL&FS). "While RBI is one of the best institutions...We had some massive failures like IL&FS," he said. The IL&FS Group has a debt burden of nearly ₹1 lakh crore.
short by Dharna / 04:15 pm on 14 Jul
The government reportedly told a tribunal that Deloitte was misreading law by arguing that the case against it should be dismissed as its term at IL&FS unit IFIN had ended when the fraud was alleged. "Fraud continuing till date on account of errant past auditor...can be covered under law," it added. India is seeking a 5-year ban on Deloitte India.
short by Dharna / 10:18 am on 15 Jul
A petition seeking a direction to the Centre and Delhi government for linking of people's movable and immovable property documents with their Aadhaar numbers was filed in Delhi High Court on Monday by BJP leader Ashwini Upadhyay. He said the move could help curb corruption, black money generation and 'benami' transactions. The petition is likely to be heard on Tuesday.
short by Dharna / 11:11 pm on 15 Jul
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