BUSINESS
'Low birth rate causes fear of economic stagnation in UK'
Falling fertility rates will deepen the country's "baby bust" with a long-term trend toward people having fewer children, Xinhua news agency quoted the London-based Social Market Foundation (SMF) as saying in the report released on Monday. The report added that it could leave the UK with fewer workers, a weaker economy and unsustainable public finances. In 2020, the number of children per woman, also known as the total fertility rate (TFR), stood at 1.58 in England and Wales, almost half the post-WWII peak of 2.93.
A greater India is visibly an India for Indians: Gautam Adani
"Such an approach is not about politics - but is about the emerging world order. If there ever was a time when democratic India had a need and opportunity to stand strong and celebrate its Indianness, it is now - at the doorstep of decades of future growth. The dimensions - our history, culture and boundaries - must now combine to encapsulate the nation, bind the nation, and instil a sense of patriotism in the nation," Adani said.
AMC staff to get portion of salary in units of schemes they manage from Oct
Though the SEBI regulation on the compensation package for AMC employees came in April, the regulator has now clarified that all junior employees below the age of 35 years will have to invest a portion of their salary in schemes which they manage in a phased manner. Other employees will be required to invest 20 per cent of their monthly compensation in MF schemes they manage from the current year itself.
India's first 'dwarf container' train chugs out from JNPT Mumbai
Dwarf containers are 2.16 feet (660 mm) shorter than the conventional ISO containers giving them a huge logistical edge, and can be loaded on trailers which can zip through rural, semi-urbanm and urban areas underneath low subways or level crossings in electrified sections, said an official. Besides, they provide a 67 per cent increase in volume when double-stacked to carry a weight of 71 tonnes.
Sensex, Nifty swing amid global cues; fall sharply after rise
Accordingly, S&P BSE Sensex index fell as much as 490 points to touch 58,525 in first few minutes of trade after markets opened and the broader NSE Nifty50 fell as low as 17,425 points, down 204 points from its previous close. It, however, managed to recoup losses and bounce back into the positive zone -- gaining nearly 200 points at the highest point of the day with Sensex again crossing the mount 59,000.
Monies paid by Amazon in legal fees have been funnelled into bribes: Report
This investigation comes on the back of a whistleblower complaint alleging that certain monies paid by Amazon in legal fees have been funnelled into bribes by one or more of its legal representatives.
Petrol, diesel prices unchanged on Monday
The oil marketing companies (OMCs) on Monday kept pump prices of auto fuels -- petrol and diesel -- unchanged, the 15th consecutive day of no revision, as they preferred to wait and watch the global oil situation before making any revision in prices.
CARS24 raises $450mn, nearly doubles its valuation to $1.84bn
The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2 along with participation from Tencent and existing investors Moore Strategic Ventures and Exor Seeds. With the latest investment, CARS24 plans to expand its global presence as well as further build its cars, bikes and financing business in India, while continuing to invest in technology that delivers the best customer experience possible.
Sensex, Nifty open low on global cues, metal and banks top drag
Accordingly, the S&P BSE Sensex index fell as much as 490 points to touch 58,525 in the first few moments of trade after markets opened and the broader NSE Nifty50 fell as low as 17,425 points, down 204 points from its previous close. Both the benchmark indices have recovered slightly with Sensex rising to 58,859 at 9.53 a.m. while Nifty50 trading at 17,515 points.
'US economic recovery would reverse into recession if debt limit not raised'
"Congress has raised or suspended the country's debt ceiling about 80 times since 1960. Now it must do so again," Xinhua news agency quoted Yellen as saying in a Wall Street Journal op-ed published on Sunday. "If not, sometime in October-it is impossible to predict precisely when-the Treasury Department's cash balance will fall to an insufficient level, and the federal government will be unable to pay its bills," Yellen said, warning failing to raise the debt limit would produce "widespread economic catastrophe".
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