2020 Financial News

Religare Enterprises Ltd (REL) have written to regulators such as RBI, Sebi and the insurance watchdog, levelling allegations of fraud and other breaches against the Burmans, which had made an open offer in September to acquire firm's control. That sets the stage for a potentially long-drawn takeover battle over a business that holds coveted licences to lend, sell insurance and operate as an intermediary in the stock market.

It’s important, I think, that I occasionally remind readers of a fact that is supported by overwhelming quantitative evidence, and yet virtually ignored by a wide majority of economists (and central bankers): inflation is a consequence of the stock of money growing faster than real economic growth. Period.

₹1,500 crore for acquisitions in the near-to-medium term to grow the company’s India and contract development businesses, chief executive officer Nikhil Chopra said in an interview. “India is contributing around 53% to the overall company, and 12% is contributed by the CDMO (contract development and manufacturing organization), which combined is 65%, and we want to take it up to 80% by FY27. Chronic segment, which contributes about 55% of the Indian business, is our major area of focus for acquisitions as we intend to take that contribution to 60%," Chopra added.

₹10,000 crore today) for the online tutoring company in the US, and removing Riju Raveendran, the brother of the edtech giant’s founder, from the SPV’s board. The ruling is significant because the case filed by Glas Trust Co., the trustee representing 37 lenders, against the Indian company in Delaware was the first court case that sparked two related courtroom battles in New York and Miami. “The plaintiffs in this action, Glas Trust Co.

MUMBAI : The Mumbai bench of the National Company Law Tribunal (NCLT) has directed the income tax department to refund ₹11.89 crore to insolvent travel firm Cox & Kings. “We direct the income tax department to refund the amount of ₹11.89 crore adjusted by them towards outstanding dues of the corporate debtor (Cox & Kings) within four weeks from the date of receipt of the order," said a bench led by Justice Lakshmi Gurung in an order issued on 1 November but uploaded on the official website on Tuesday.

FOX Business correspondent Madison Alworth shares why for many first-time homebuyers, the American dream is delayed as a result of high mortgage rates and home prices on 'Varney and Co.'

BENGALURU : India’s co-working sector, also called the flex workspace sector, modelled itself on WeWork Inc., the SoftBank-backed startup that filed for bankruptcy in the US this week. How does this development impact WeWork India and other companies? Mint explains: WeWork disrupted the commercial office market with its unique co-working model where it took office spaces on lease and rented them to tenants on a short term. This worked well for a few years.

NEW DELHI : The law to improve the ease of doing business, passed by Parliament a few months ago, will need continuous upgrades, commerce minister Piyush Goyal said on Wednesday. The government is currently consulting with the industry and seeking feedback to upgrade the Jan Vishwas (Amendment of Provisions) Bill, 2023, to address challenges to ease of doing business in India. “With our best intentions, the Jan Vishwas 2.0 bill will take us one step forward, but we will possibly need Jan Vishwas 3.0," Goyal said at a conference on ease of doing business organized by CII.

Ivanka Trump’s appearance follows testimony by her two adult brothers and Trump, who leads the race for the 2024 Republican presidential nomination despite his maelstrom of legal troubles. Unlike her siblings and father, she is not a defendant in the case. As questioning got underway, Ivanka said she focused on redeveloping the Doral golf course in Florida and the Old Post Office property in Washington when she served as a top executive at the company from 2011 to 2017.

Now over 51 years since the disappearance of a woman just north of Peterborough, Ont., investigators returned to her family’s property on Tuesday to conduct a search.

As the grocery code of conduct nears completion, the Canadian industry’s biggest player is raising concerns the guidelines could add fuel to the food inflation fire.

OSlash, which last raised $5 million from the likes of Cred founder Kunal Shah and Notion founder Akshay Kothari, on Wednesday said it will wind up operations by the end of this month. Shutting down OSlash will allow the company to return capital to investors “with dignity and humility. More importantly, we will channel lessons learned into our next adventure,” it said in a blog post, without sharing specific details.

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Lung cancer death rates in Canada are declining faster than any other type of cancer, which can be attributed to the significant impact of tobacco control and early detection efforts, according to a new report.The report, Canadian Cancer Statistics 2023, was released Wednesday by the Canadian Cancer Society (CCS) in collaboration with Statistics Canada and found the biggest reason behind the fall in lung cancer deaths is due to a reduction of tobacco use, which is the leading risk factor for the disease.Research advancements have also played a crucial role in improving lung cancer survival through early detection and more precise and effective treatments with fewer harmful side effects, the report found.“This finding really highlights the progress that has been made in reducing lung cancer incidence through commercial tobacco control and prevention efforts,” Jennifer Gillis, senior manager of surveillance for the CCS, told Global News.“It really highlights the progress that has been made to advance early detection and treatments, to improve outcomes and quality of life for people affected by lung cancer.”In 2023, it is estimated that 239,100 Canadians will be diagnosed with cancer and 86,700 will die from the disease, according to CCS. Lung, breast, prostate and colorectal cancer make up for almost half of all new cancer diagnoses.Lung cancer is the leading cause of cancer death, responsible for about one in four cancer fatalities among Canadians.

Meta Platforms on Wednesday. In a blog post, Meta said that it would require advertisers to disclose if their altered or created ads portray real people as doing or saying something that they did not, or if they digitally produce a real-looking person that does not exist.

China to become the most represented country in the QS World University Rankings: Asia 2024 for the first time ever, reflecting the rising prominence of the South Asian country’s higher education system amid steps taken towards increasing the research output, academic recognition and internationalisation. As many as 148 Indian institutions feature on the sixteenth annual list comprising 856 universities from 25 Asian countries released by global higher education analyst Quacquarelli Symonds, ahead of Mainland China (133) and Japan (96). Last year, 118 Indian universities had made it to the list. Indian Institute of Technology-Bombay (IIT-B) is at the top of the India table, at the 40th spot regionally, followed by IIT-Delhi (46) and IIT-Madras (53).

QI Research CEO Danielle DiMartino Booth and UBS Private Wealth Management managing director Alli McCartney react to the Federal Reserve’s decision to pause rate hikes in November.

The heirs of the late soccer star Diego Maradona have won a legal battle over the use of his trademark

Indonesia’s anti-graft court on Wednesday sentenced a former Cabinet minister to 15 years in prison after finding him guilty of corruption over the construction of mobile phone transmission towers in remote parts of the country

The Treasury Department has imposed sanctions on 13 members of Mexico’s powerful Sinaloa cartel and four Mexico-based firms accused of trafficking fentanyl into the United States

Boston University said Tuesday that its initial inquiry into the antiracist research center run by best-selling author and academic Ibram X