BUSINESS
Seychelles fund proves to be Achilles heel for Air India employees as bid gets rejected
The transaction advisor to the government, Ernst & Young, informed the employees of Air India that they have been unsuccessful in qualifying for the next phase of the ‘disinvestment acquisition process' on account of inadequate details of the Seychelles-based fund.
Govt's privatisation plan will see it retaining minority shareholding in select companies
Highly placed government sources said that a bare minimum government presence may be maintained in sectors such as defence, railways and infrastructure so that necessary hand holding is provided to the new management in the initial years of operation.
India retail sector to add 2.5 crore new jobs by 2030: Report
The online+offline model will lead to $125 billion retail exports and $8 billion in incremental GST contribution in the next 10 years, according to the report by Nasscom in association with leading management and consulting firm Technopak.
Crude oil prices jump above $70 per barrel on global tensions
The spike in oil prices comes after Iran-backed Houthi rebels unleashed a coordinated attack on Saudi Arabia oil facilities and military bases. Consequently, the Brent crude futures jumped above $70 a barrel on Monday.
Adani Ports' shares rise as Warburg Pincus arm to invest 800cr
Shares of Adani Ports and Special Economic Zone (APSEZ) rose on Monday morning on the company's announcement that Windy Lakeside Investment Ltd, a unit of Warburg Pincus, will invest Rs 800 crore in the company.
Only Tata, Spicejet now in the fray for Air India
The transaction advisors have been in touch with the interested bidders regarding several queries and the qualified bidders will be intimated only after the government is satisfied with the responses from the bidders.
JPMorgan says up to $316bn selling in equites by quarter end
According to a report in Zero Hedge, this number will likely be lower following last week's sell-off which followed the original JP Morgan analysis, and may be some $40 billion less based on assumptions about forced Norwegian selling, we are still talking about selling in the $100 billion plus range in the days before quarter end.
Tesla, Ford only carmakers not gone bankrupt: Elon Musk
Tesla reported another profitable quarter as revenue hit $10.74 billion in the fourth quarter of 2020. In last year, Tesla achieved free cash flow of nearly $2.8 billion after spending more than $3 billion on building new factories and other expenditures.
Jack Dorsey puts his 1st tweet on sale, bid reaches Rs 2 crore
Dorsey tweeted with a bidding link to NFT (non-fungible token) through a platform called Valuables. NFT is a digital good on the Ethereum blockchain. The NFT refers to a unit of currency on the Blockchain, the way cryptocurrency like Bitcoin is bought and sold.
Gold futures lose shine, down 20% from record highs
The fall in gold prices has taken place amid hopes of economic recovery post the reopening of business activities along with vaccination drives across the globe. The recent decline comes largely on the back of high yields in US bonds.
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