BLOCK Financial News

PwC investigators hired by miner Terracom’s lawyers were refused permission to interview a laboratory business accused of helping fake the coal miner’s quality certificates, documents reveal.

SEBI sub-group and came up with the proposal to overhaul the SEBI (Delisting of Equity Shares) Regulations, 2021 – the proposal is currently out for public comments. In addition to certain tweaks in respect of the counter-offer mechanism, computation of floor price and related reference date, the proposal seeks to provide an alternative to the long-standing Reverse Book Building (‘RBB’) mechanism. One look at the proposed draft is enough to realise the effort of SEBI to fine-tune the delisting mechanism to make it more efficient.Current scenario Currently, a delisting is considered successful when (a) the post-offer shareholding of the acquirer, along with the shares tendered by the public shareholders reaches 90% (‘90% Threshold’); and (b) the price discovered pursuant to RBB is acceptable to the acquirer. Where the RBB discovered price is not acceptable to the acquirer, the acquirer can make a counter-offer at a price that should not be lower than the book value of the company, but only if the 90% Threshold is met. Further, the RBB discovered price is the price at which the acquirer reaches 90% Threshold – thus, market has seen precedents where a shareholder holding big block bids at an exorbitant price, thereby making the deal unsustainable.

Tent Pegging World Cup held in South Africa. Tent Pegging is a cavalry sport wherein the rider is supposed to pick a wooden block, placed on the ground, with a spear.India, who secured a podium finish on Saturday, had finished at the sixth and the seventh spots in the last two editions of the Tent Pegging World Cup. The most recent edition — fourth — was originally slated to be held in 2022, but was delayed due to the COVID-19 pandemic. The International Tent Pegging Federation comprises 29 countries, which earn World Cup qualification while being divided in groups of four teams each. During its general assembly in Oman, a draw was conducted for each national federation to pick a group.

Upbit, a globally recognized digital asset exchange, has announced the addition of a new digital asset, SEI, to its KRW and BTC markets. The announcement was made on August 14, 2023, and provides detailed information about the listing and associated guidelines.

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BUCHAREST (Reuters) -One person died and 57 were injured after two explosions at a liquefied petroleum gas station in the Romanian town of Crevedia near the capital Bucharest on Saturday.

G20 summit, close to 3,500 rooms across big and small hotels in Delhi and Gurgaon have been booked, reported TOI. To cater to the needs of the leaders, over 10,000 hospitality professionals have been instructed to be present across 30 prominent hotels across central and south Delhi, Aerocity and Gurgaon. Delhi Police, Ministry of External Affairs and other embassies have already started security drills almost two months ago, according to TOI quoting a Hyatt Regency Hotel spokesperson. Hotel Arrangements for World Leaders Several luxury hotels across Delhi and other nearby locations have been selected to host the leaders. US President Joe Biden is expected to stay at ITC Maurya while Chinese President Xi Jinping is set to be hosted by Taj Palace. Other hotels such as Shangri La's Eros expected to have UK PM Rishi Sunak and German delegation, The Imperial may host the Australian PM and Indonesian delegation, Taj Mahal to have UAE delegation; Leela Palace expects Saudi Arabia delegation, The Lalit to have Canadian and Japanese delegations, The Claridges expects French president Emmanuel Macron and The Oberoi will host Russian delegation. During the stay, several preparations are in place to give the world leaders a taste of the Indian culture. «Indian musicians, especially the ones good at playing dhol, tabla, sitar, sarod and shehnai, are being signed up for welcoming the guests and also for playing soft music through the day in lobby,» explained a hotel manager. Another hotel's representative explained that from 'organising a traditional Indian welcome with a popular local music or dance performance and signature Indian welcome drinks to stocking the rooms with specially curated amenities, such as Indian coffee, teas,

ANZ said it expects its $4.9 billion acquisition of Suncorp’s banking arm to be completed by the middle of next year after it formally lodged an appeal to the consumer watchdog’s decision to block the deal on the basis that it would reduce lending competition.

Punit Renjen, deputy chairperson-supervisory board, SAP SE. Speaking at a B20 panel on Saturday, Renjen said businesses need to address the climate question as that is what their employees increasingly want; this is what underpinned Deloitte’s work on ESG while he was heading it. “If I want to hire the very best individuals and I want to retain them, I must have a critical response to that question,” he said. Speaking at the same event, Bernard Looney, CEO of BP, said ESG serves both moral and business good.

petroleum products made from Russian crude oil in India finding way to the European market, saying it defies the purpose of the sanctions against Moscow that are aimed at reducing its ability to finance the war with Ukraine. The European Union's Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said oil products processed from Russian crude oil are arriving at the European market in «large quantities» and the grouping is looking at ways to deal with it. In an interaction with a small group of journalists, the EU Vice President, currently on a visit to India, accused Russia of using its energy supplies, and food as «tools» of «war and manipulation» to continue its attack on Ukraine. On the issue of food, Dombrovskis cited Russia withdrawing from the Black Sea grain initiative and blocking Ukraine's export of food grain to the world market. Since Russia's invasion of Ukraine in February last year, the Western powers have imposed a series of sanctions on Moscow including a price cap on Russian oil by G7-plus nations, in order to reduce its ability to finance the war on Ukraine.

National Highway was blocked amid heavy rainfall in the district, an official said on Saturday. The Deputy Commissioner of the Kullu district released the traffic update on X (formerly Twitter). The latest update says that the Kullu-Mandi road via Pandoh and Kamand is blocked after a landslide hit the area earlier in the day.

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The Deputy Commissioner of the Kullu district took to 'X' and released the traffic update. As per the latest update, the Kullu-Mandi road via Pandoh and Kamand is blocked following a landslide that occurred a day earlier on the National Highway. On Friday, the Kullu DC said, «The Kullu-Mandi NH is closed following a landslide due to heavy rains.

Meta is being accused of endangering lives by blocking news links in Canada at a crucial moment, when thousands have fled their homes and are desperate for wildfire updates that once would have been shared widely on Facebook. The situation «is dangerous,» said Kelsey Worth, 35, of one nearly 20,000 residents of Yellowkife and thousands more in small towns ordered to evacuate the Northwest Territories as wildfires advanced. She described to AFP how «insanely difficult» it has been for herself and other evacuees to find verifiable information about the fires blazing across the near-Arctic territory and other parts of Canada. «Nobody's able to know what's true or not,» she said. «And when you're in an emergency situation, time is of the essence,» she said, explaining that many Canadians until now have relied on social media for news. Meta on August 1 started blocking the distribution of news links and articles on its Facebook and Instagram platforms in response to a recent law requiring digital giants to pay publishers for news content. The company has been in a virtual showdown with Ottawa over the bill passed in June but which only takes effect next year. Building on similar legislation introduced in Australia, the bill aims to support a struggling Canadian news sector that has seen a flight of advertising dollars and hundreds of publications closed in the last decade. It requires companies like Meta and Google to make fair commercial deals with Canadian outlets for the news and information — estimated in a report to parliament to be worth Can$330 million (US$250 million) per year — that is shared on their platforms, or face binding arbitration. But Meta has said the bill is flawed and insisted that news outlets share

Artificial intelligence (AI) is going to augment human ingenuity, not replace it, said Shantanu Narayen, chairman and chief executive of $17.61-billion Adobe Inc. The Hyderabad-born executive, who has been at the helm of the Nasdaq-listed company for the last 15 years, cautioned that a rush to regulate AI and «arbitrarily limiting advancements may be harmful».

Artificial intelligence (AI) is going to augment human ingenuity, not replace it, said Shantanu Narayen, chairman and chief executive of $17.61-billion Adobe Inc. The Hyderabad-born executive, who has been at the helm of the Nasdaq-listed company for the last 15 years, cautioned that a rush to regulate AI and «arbitrarily limiting advancements may be harmful». In a wide-ranging conversation with ET's Surabhi Agarwal & Bodhisatva Ganguli, he also talked about the role that Adobe India is playing in building the next-gen AI-led products and the monetisation opportunities for the company arising out of the AI boom. Narayen, 60, who is among the original crop of the ever-growing list of Indian-origin CEOs leading American multinationals (MNCs), also said that the future of India is «very bright» because of the right combination of demographics, talent and technology and what the government has done with the digital public goods is incredible.

Lawyers for Sam Bankman-Fried say prosecutors have delivered another four million pages of documents on the FTX founder six weeks before trial

Oil companies are challenging a Biden administration move to protect an endangered species of whale by scaling back a planned September auction of Gulf of Mexico oil and gas leases

Congressional Democrats are accusing big tax preparation firms including Intuit and H&R Block of undermining the federal government’s upcoming electronic free file tax return system

Paytm, among others saw heavy buying and selling on Friday, August 25 among bulk and block deals on stock exchanges BSE, NSE. The stocks were in focus accordingly during the trading session today. Shares of One97 Communications, which operates Paytm, opened higher at ₹915 on the news of the bulk deal.

(Reuters) -AstraZeneca said on Friday it has sued the U.S. government to block parts of a program that gives the Medicare health insurance plan the power to negotiate lower drug prices.