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SBI Cards $1.4 billion IPO braves virus turmoil, subscribed 22 times

Friday, March 6, 2020, 9:31 AM

SBI Cards $1.4 billion IPO braves virus turmoil, subscribed 22 times

The $1.4-billion public issue of SBI Cards and Payment Services Ltd, India's largest IPO in over two-years, weathered the coronavirus-led global market turmoil and was subscribed 22.45-times by the final-day of bidding. The credit-card arm of the country's top public lender, State Bank of India, drew bids for 2.25-billion shares on Thursday, compared to the 100.3 million shares on offer, stock exchange data showed.

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SBI to study viability of buying stake in Yes Bank: source

Friday, March 6, 2020, 9:30 AM

SBI to study viability of buying stake in Yes Bank: source

The board of India' top-lender, SBI , agreed to conduct a viability assessment into buying a stake in troubled private sector Yes Bank Ltd., a source said. Yes Bank shares surged more than 25% after reports emerged that a group led by SBI will inject capital into the bank. SBI shares fell as-much-as 5.4% on the report, before reversing course to close 1% higher.

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White House dismisses idea of U.S. buying Nokia, Ericsson to challenge Huawei

Saturday, February 8, 2020, 9:06 AM

White House dismisses idea of U.S. buying Nokia, Ericsson to challenge Huawei

U.S. Vice President Mike Pence and the top White House economic adviser dismissed an unusual suggestion from U.S. Attorney General William Barr that the United States consider taking control of two major foreign rivals of China-based Huawei Technologies. "Great respect to Attorney General Barr, but we believe the best way forward is what Ajit Pai announced just over the last several days," Pence said.

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Sony raises outlook on strong sensor demand, warns of virus risks on supply chain

Tuesday, February 4, 2020, 8:15 PM

Sony raises outlook on strong sensor demand, warns of virus risks on supply chain

Sony-Corp raised its annual profit outlook on strong sales of smartphone-image-sensors after reporting a smaller-than-expected decline in quarterly profit, but it warned of an impact from the Wuhan coronavirus on its global-supply-chain. Demand for image sensors has been strong enough that even with its plants operating at full-capacity Sony has been unable to pile-up planned inventories, CFO Hiroki Totoki said at an earnings briefing.

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31 January 2020, Friday

Become Rich by Investing in Mutual Funds

As you may know, investing is one of the best ways to create wealth. Through investment, you can make your money do some work. You can expose your inv ...

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India calls for bids as it seeks to sell entire stake in Air India

Monday, January 27, 2020, 7:37 PM

India calls for bids as it seeks to sell entire stake in Air India

The government said it plans to sell its entire interest in Air India Ltd, in a renewed push to sell the airline after an attempt to auction a majority stake almost two-years-ago failed to draw any bids. A document released showed March-17 as the deadline for submission of initial expressions of interest, and that any bidder must assume liabilities including 232.87-billion-rupees in debt.

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Walmart sacks 56 executives in India as part of restructuring

Monday, January 13, 2020, 8:05 PM

Walmart sacks 56 executives in India as part of restructuring

Walmart Inc, the world's largest retailer, has fired around 56 of its India-executives as part of its restructuring in the country, three sources with direct knowledge told Reuters. The move underscores the struggles Walmart has faced in expanding its wholesale business in India. The Bentonville, Arkansas-based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers.

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Amazon's Deliveroo deal faces in-depth UK competition probe

Saturday, December 28, 2019, 7:34 AM

Amazon's Deliveroo deal faces in-depth UK competition probe

Britain's competition regulator is launching an in-depth investigation into Amazon.com Inc's (AMZN.O) purchase of a stake in online food delivery group Deliveroo after the companies failed to assuage its initial concerns. Amazon led a $575-million fundraising by Deliveroo in May and the probe could disrupt the e-commerce giant's efforts to compete with Uber Eats (UBER.N), Just Eat (JE.L) and Takeaway.com (TKWY.AS) in food delivery.

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Long road ahead as Fiat Chrysler, Peugeot agree $50 billion merger

Wednesday, December 18, 2019, 8:34 PM

Long road ahead as Fiat Chrysler, Peugeot agree $50 billion merger

Fiat Chrysler and Peugeot maker PSA have struck a binding deal to create the world's fourth biggest carmaker, and now face the challenge of winning over regulators and delivering on a pledge to slash costs without closing factories. Success is vital to help both companies cope with a slowdown in autos demand and the cost of making cleaner vehicles to meet tougher emissions regulations.

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SoftBank-backed Paytm raises $660 million

Friday, December 13, 2019, 8:40 PM

SoftBank-backed Paytm raises $660 million

Indian digital payments startup Paytm's parent has raised nearly $660 million from investors including Alibaba's Alipay, SoftBank's SVF Panther (Cayman) and funds managed by T Rowe Price among others, according to a filing. The board of One 97 Communications Ltd will allot about 2.6 million shares to the investors, financial data accessed by business intelligence platform Tofler dated December 12 showed.

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