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Don't Let Telcos Charge Offices, Businesses for Unused Internet during Lockdown: PIL in Delhi HC

The petitioner contended that telephone operators and ISPs ought not to charge citizens for services not used by them while following the government's directions.




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Rupee Zooms 57 Paise to End at 75.09 against US Dollar

The greenback weakening overseas and optimism over a COVID-19 drug trial in the US further supported the local unit, forex traders said.




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Reckitt Benckiser's Sales Hit Record On Coronavirus Disinfectant Boom

Reckitt Benckiser recorded a 13.3% rise in first quarter like-for-like sales, that was its best performance since the company was formed in 1999.




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Asian Oil Sellers Add New 'Zero Price' Clause in Contracts: Report

The new clause comes as sellers in Asia seek to protect their interests, as prices of some physical crude grades sold in the region have fallen to close to $10 a barrel due to heavy discounts.




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Reliance to Hive off $75 Billion O2C Business into Separate Unit for Sale to Aramco

O2C undertaking of the company comprises entire oil-to-chemicals business of the company consisting of refining, petrochemicals, fuel retail and aviation fuel (majority interest only) and bulk wholesale marketing businesses together with its assets and liabilities.




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EPFO Allows Firms to File PF Returns Without Simultaneous Payment of Dues

The PF returns have details about employees' and employers' contributions towards the social security scheme run by the Employees' Provident Fund Organisation (EPFO).




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Oil Prices Jump after US Stockpiles Grow Less than Feared, Output Cuts Kick in

Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up $1.10, or 4.2%, at $27.58 a barrel by 0013 GMT.




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Gold Gains on Bleak US Data, But En Route for 2% Weekly Fall

Millions more Americans filed claims for unemployment benefits last week, lifting the number of applications to 30.3 million since March 21, data showed.




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Sebi Exempts Four Family Trusts Linked to Lux Industries' Promoters From Open Offer Obligation

The proposed acquisition involves settlement or contribution of equity shares of the company to the four trusts by Ashok Todi, Bimla Todi, Pradip Todi and Shobha Todi.




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Covid-19: AP Govt to Clear All Industrial Incentives, Waive Power Charge for 3 Months to Boost MSMEs

The state government has also decided to provide working capital loans to MSMEs at lower interest rates. A fund to the tune of Rs 200 crore would be created to lend loans between Rs 2-10 lakh.




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India Set to Cap Stimulus Package at $60 Billion to Protect Credit Rating: Report

On Tuesday, Fitch warned India's sovereign rating could come under pressure if its fiscal outlook deteriorates further as the government tries to steer the country through the coronavirus crisis.




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​​​Graded Exit From Lockdown Would Be Good For Businesses, Say 86% of CEOs in CNBC-CII Poll

On the effectiveness of India's COVID-19 strategy, 73% of the respondents said it has been successful so far.




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Elon Musk Wipes Nearly $15 Billion Off Tesla’s Valuation With His 'Price Too High' Tweet

The tweets recall Musk's controversial tweets in August 2018 when he said he had "funding secured" for a quickly-aborted campaign to take the electric car maker private.




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Tata Steel Announces Plans Aimed at Creating World's First Zero Carbon Industrial Cluster in UK

Phase one of the Tata Steel's European business project will create a plan for a series of local zero-carbon areas, create skilled jobs and enhance well-being across South Wales.




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PM Meets FM, Home Minister to Discuss 2nd Economic Stimulus Package for Affected Sectors

PM Narendra Modi, who held discussions with Amit Shah and Nirmala Sitharaman, on Friday held meetings with different ministries including civil aviation, labour and power.




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Warren Buffett's Berkshire Hathaway Posts Nearly $50 Billion Loss as Coronavirus Hits Hard

A year earlier, the conglomerate reported profits of $15.5 billion.




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PM Modi Holds Meetings to Firm Up Second Stimulus for Reviving Lockdown-hit Economy

The prime minister also had discussions with key economic ministries such as Agriculture and Farmers' Welfare, and MSME to discuss various issues.




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Covid-19 Not an End to Coworking Culture, Says Industry

Reeling under pressure due to sharp drop in footfalls following the COVID-19 pandemic, operators in the country's coworking industry believe the blip could be temporary and demand for flexible space would go up again as some key factors are going for them.




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Sebi Imposes Total Rs 1.05 Cr Fine on 21 Entities in Jolly Plastic Industries Case

Sebi has imposed a total penalty of Rs 1.05 crore on 21 entities for executing fraudulent trading in the scrip of Jolly Plastic Industries Ltd.




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CII For Greater Industrial Activities in Districts With High Economic Performance

The government has permitted industrial estates, SEZ and industrial townships with restricted entry within urban areas of 'red zones' to commence operations.




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Foreign Investors Keen To De-risk China Businesses, India Should Seize Opportunity: BJP Leader

Asked about the reluctance of lenders to extend advances to small and medium enterprises, Panda said banks are "afraid" of increasing their lending to businesses despite several policy rate cuts by the Reserve Bank of India.




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There Will be Flight of Capital From China Post Coronavirus Phase, Says BJP's Ram Madhav

Madhav said Asian democracies like Singapore and South Korea along with India have set a "new example that you don't need to be authoritarian to handle such a big crisis".




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Bad Debt of Indian Banks Could Double From Rs 9.35 Lakh Crore Due to Coronavirus Crisis: Report

Indian banks are already grappling with 9.35 lakh crore rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.




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Dollar Firm but Stocks, Oil Under Pressure as US-China Tensions Rise Over Coronavirus

In commodity markets, US crude futures sank in early trade on worries about oil oversupply, even as some US states start to ease coronavirus pandemic restrictions.




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Nifty, Sensex Slump as Govt Extends Coronavirus Lockdown; HDFC Bank Slides

The NSE Nifty 50 index was down 4.25% at 9,448.15, while the S&P BSE Sensex was 4.34% lower at 32,260.30.




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India Doubles Down on Solar, Gas at Coal's Expense as Electricity Use Falls

India's solar and gas-fired electricity generation rose in April even as overall power demand fell at the steepest monthly rate in at least thirteen years, a Reuters analysis of provisional government data showed.




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Gold Steady as Dollar Gains; US-China Tensions over Coronavirus Resurface

US Secretary of State Mike Pompeo said on Sunday there was "a significant amount of evidence" that the virus emerged from a Chinese laboratory.




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Rupee Plunges 71 Paise to 75.80 against US Dollar in Early Trade

The rupee opened weak at 75.70 at the interbank forex market and then fell further to 75.80, down 71 paise over its last close.




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Nifty Falls over 4 Percent; 'Marriage Call' Option Can Cushion Damage

As prices face the 50-day moving average, trading it on the higher side in one move is difficult and some retracement is very likely.




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Sensex Crashes Over 2,000 Points as Global Selloff Intensifies amid Rising US-China Tensions

After a highly volatile session, the 30-share BSE index settled at 31,715.35, plunging 2,002.27 points, or 5.94 per cent.




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US Retailer J. Crew Files for Bankruptcy: Statement

The brand, whose clothes have been worn by former first lady Michelle Obama, said online sales operations, which account for more than half its revenues, will continue as normal.




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ITC Faces Union Backlash Over Coronavirus Work Warnings to Employees

While ITC had so far not taken any action against workers, the company notices said "absence without leave" would lead to salary cuts and "disciplinary action", without elaborating.




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Global Markets Drop, Spooked by China-US Tensions Over Virus

Benchmarks fell in most countries except for Australia, which was lifted by signs its own virus outbreak is being brought under control.




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Rupee Rises 15 Paise to 75.58 Against US Dollar in Early Trade Amid Covid-19 Concerns

Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.




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Gold Dips as Coronavirus-led Curbs Ease, Tariff Worries Persist

Investors, however, remained worried about brewing Sino-US tensions after President Donald Trump threatened new tariffs on China for its handling of the outbreak.




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US Financial Body Gives $15 Mn Loan to Indian Start-up to Expand Access to Quality Education

An American financial organisation has agreed to sanction USD 15 million loan to an Indian education start-up to expand the access to quality education by providing critical financing to schools that serve low-income students in India.




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PSB NPAs Likely to Rise 2-4% Points; May Push Govt to Recapitalise via RBI Reserves & Bonds: Report

The report said the increase in non-performing assets by 2-4 percentage points will need a government recapitalisation requirement by $7-15 billion.




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US Trade Deficit Widens to $44.4 Billion in March on Falling Exports

Imports also fell, but only by 6.2 percent, as transportation and shipping began to close down worldwide.




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More Fiscal Stimulus Measures Necessary in India to Fight Covid-19: S&P

In March, the government announced a Rs 1.7 lakh crore relief package focusing on providing food security to the poor and providing money in their hands to fight COVID-19.




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Oil Prices Fall as Rising US Inventories Reassert Supply Concerns

US West Texas Intermediate (WTI) crude futures fell as much as 2.1 per cent to $24.05 a barrel and were down 14 cents at $24.41 a barrel at 0201 GMT. WTI has snapped a five-day winning streak.




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Home Rental Company Airbnb Lays off 1,900 People as Coronavirus Slumps Business

With millions of tourists canceling plans for vacations, work trips and family visits, Airbnb earlier this year said it was allocating $250 million to help offset losses incurred by hosts.




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India's Services Activity Collapses as Coronavirus Paralyses Global Economy: PMI

The grim result for the industry, the engine of economic growth and jobs, underlined the pandemic's sweeping impact across India as authorities extended a nationwide lockdown.




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Rupee Slips 18 Paise to 75.81 Against US Dollar in Early Trade

Forex traders said the weakness in the rupee was largely due to the strengthening US dollar. Besides, rising coronavirus cases in the country also weighed on the local unit.




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Govt Allows Businesses to Verify Monthly GST Return through EVC

Currently, businesses are required to digitally sign GSTR-3B form while filing monthly return and paying taxes.




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US Private Hiring Collapses in April, Plunging 20.2 Million, Says Payroll Firm ADP

However, the data only reflect company payrolls through April 12 so the report does not reflect the full impact of COVID-19 on the overall employment situation.




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Oil Gains as US Inventories Grow Less Than Feared While Coronavirus Slashes Demand

While prices have risen sharply since late April as some countries have started easing lockdowns put in place to combat the worst pandemic in a century, oil continues to be pumped into storage, leaving a massive mismatch between demand and supply.




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Sensex, Nifty Slip as Coronavirus Cases Jump; Hindustan Unilever Drops

Indian stocks slid on Thursday, with declines led by banks and Hindustan Unilever, as coronavirus cases in the country crossed 50,000 despite a strict weeks-long lockdown.




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Britain's GlaxoSmithKline to Sell Entire Stake in Hindustan Unilever for Rs 254.8 Billion

GSK has agreed to sell its entire stake in Unilever's Indian business for about 254.8 billion rupees ($3.35 billion) on the open market, cashing in late from the sale of the Horlicks brand.




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MSMEs Need Govt Push to Benefit from Comparative Advantage over China-made Consumer Goods: Report

It further said that although 2020 is a lost year, in terms of trade, India can think long-term and build relations so that it can occupy the space vacated by China.




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Steel Giant ArcelorMittal Reports Net Loss of $1.1 Billion in First Quarter Amid Coronavirus

The company also had to reduce production due to reduced demand.