Friday, March 6, 2020, 9:31 AM
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.
Friday, March 6, 2020, 9:30 AM
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.
Saturday, February 8, 2020, 9:06 AM
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.
Tuesday, February 4, 2020, 8:15 PM
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.
31 January 2020, Friday
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Monday, January 27, 2020, 7:37 PM
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.
Monday, January 13, 2020, 8:05 PM
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.
Saturday, December 28, 2019, 7:34 AM
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.
Wednesday, December 18, 2019, 8:34 PM
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.
Friday, December 13, 2019, 8:40 PM
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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