BUSINESS
US FTC slaps $2M fine on Amazon work from home scammer
The FTC alleged that Randon Morris and a number of companies he controlled initiated millions of robocalls to promote sham work-from-home business opportunities, focusing on consumers concerned about working outside their homes because of the coronavirus pandemic. The $2 million judgment has been partially suspended because of an inability to pay, according to the FTC.
Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global
The project is located in Telangana and was commissioned in October 2017 and has a long-term Power Purchase Agreement (PPA) with the Southern Power Distribution Company in the state. With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The closing of the transaction is subject to customary approvals and conditions.
RCEP trade deal could boost Japan's GDP by $140bn
The government said on Friday that based on the country's real GDP in fiscal 2019, the expected economic effect of the Regional Comprehensive Economic Partnership (RCEP), which will cover a third of global trade and population, could correspond to about a 2.7 per cent GDP increase, reports Xinhua news agency.
Llistosella not to join Tata Motors as new CEO, Managing Director: Company
On February 12, the company had announced he would join Tata Motors effective from July 1, 2021. In a regulatory filing, the company said: "Tata Motors wishes to announce that Mr Marc Llistosella Y Bischoff who was to join Tata Motors as its CEO & Managing Director effective from July 1, 2021, will not be joining Tata Motors as its CEO & Managing Director as previously announced on February 12, 2021."
India's forex reserve rises by over $1.7 bn
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $582.037 billion from $580.299 billion reported for the week ended March 5. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
Brokerage clients jump 67% as small towns go big on equity
Recent data, based on city wise distribution of turnover in cash segment in BSE and NSE, suggest increasing pie of Tier-2 and below cities in past two years. In BSE, contribution of Tier-2 and below cities in cash turnover has increased from 30 per cent in FY18 to 40 per cent in FY20 while in NSE, it has risen from 14 per cent to 17 per cent.
'India Inc should work with govt on its aspirational programmes'
The corporates should also look at bringing small and medium enterprise and migrant workers in the value chain, thereby generating employment, wealth creation and promoting growth needed by the country, NITI Aayog Vice Chairman Rajiv Kumar said.
FICCI President Uday Shankar snubs Amazon's claims
In a first, Uday Shankar has said Amazon's claims at a vital stakeholder-DPIIT meet Friday were false and need to be rescinded. Shankar, in a terse distancing from Amazon's claims, said the apex chamber expects zero-tolerance on creative interpretations of FDI norms.
Saradha case: ED quizzes Trinamool contestants Mitra, Gupta
Gupta, who is also contesting as a Trinamool Congress candidate from the Jorasanko assembly constituency in the West Bengal assembly polls, appeared before the agency at its Salt Lake office here. Gupta was questioned for more than three hours. Former Transport Minister Mitra also appeared before the agency.
Bank fraud case: CBI searches Indian Technometal Company premises
A CBI spokesperson here said that the agency teams carried out searches at the premises of the company and its directors, based in Himachal Pradesh's Kangra. The official said that the agency had registered a case against Technometal Company Limited and its directors and other unknown public servants and other persons on a complaint from Union Bank of India, erstwhile known as Corporation Bank.
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