b

Sensex sinks 2,002 pts as global selloff intensifies

ICICI Bank was the top laggard in the Sensex pack, sinking over 10 per cent, followed by Bajaj Finance, HDFC, IndusInd Bank, Axis Bank and Maruti. Bharti Airtel and Sun Pharma were the gainers in the BSE index. NSE Nifty suffered a heavy loss of 566.40 points, or 5.74 per cent, to settle at 9,293.50.




b

Ola, Uber see low demand after resuming services

Ola and Uber said they have resumed services in areas within orange and green zones, and have introduced requirements like wearing masks to ensure safety of riders and driver partners.




b

This pharma hub is slowly getting back to life

In four to five days production in the Baddi hub would touch 60-70 per cent of its capacity. As of now around 243 units are operational there. All the big pharmaceutical plants, including multinationals like Abbott, Sun Pharmaceutical Industries, Zydus Cadila, and Wockhardt, are operational.




b

Employers may be allowed to pay PF in instalments

Apart from this, employers may be allowed to deduct EPF contributions only on the basic pay of up to Rs 15,000, even if the employees' basic pay is above this ceiling. While on one hand this will allow companies to lower their wage bills, employees can also get a higher salary in hand.




b

No signs of help from govt to bail out aviation sector

The Wadia group, which, owns low-cost airline GoAir also drew comparison with other western economies which have provided financial assistance to their airlines for payment of salary and restructuring their operations.




b

BSNL told to stay Rs 9Kcr 4G tender over allegations

The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.




b

Govt banks' NPAs may rise 2-4 percentage points

The government can issue recapitalisation bonds, or the RBI's huge reserves of over $127 can also be dipped into to help the state-owned bank's recapitalisation needs.




b

Hyderabad airport gears up for life after lockdown

Temperature screening will be done by CISF with automated thermal cameras at all terminal entry points with provision of social distancing markers. Automatic hand sanitizer dispensers at terminal entry points have also been placed, sources said.




b

Harsh Lodha back as director in 2 MP Birla group cos

The order, which set aside the August 9 ruling of a single-judge bench, prevented the group entities from publishing the voting results of the last AGM. However, the firms will now be able to execute decisions taken at the AGM last year. People in the know said the Birlas would appeal against the order in a higher court.




b

India's services sector hits rock bottom in April

The IHS Markit India Services Business Activity Index stood at 5.4 in April, an extreme decline from 49.3 in March, and indicative of the most severe contraction in services output since records began in December 2005. As per the IHS Markit India Services Purchasing Managers' Index (PMI), a print above 50 means expansion, while a score below that denotes contraction.




b

Many US tech firms pay migrant workers below mkt rates

Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.




b

RBI wants to end lazy banking

'Banks are being encouraged to lend instead of parking their resources with the RBI and earn risk-free interest income,' points out Tamal Bandyopadhyay.




b

COVID-19 deals a deadly blow to small realty players

Experts say that the lockdown and its aftermath will further quicken the consolidation in the real estate sector, which has been taking place since 2012, with more small players going out of the business and bigger, branded players dominating the market.




b

Will Mumbai be hit by shortage of essential goods?

Vashi APMC traders see supplies to Mumbai impacted over movement curbs. A number of trucks sent to Mumbai from the market has reduced from 600 per day in recent times to around 300.




b

BSNL's 4G dream is mired in controversy

Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.




b

How Airbnb's Brian Chesky let I,900 employees go

There is much to learn from how Brian Chesky, co-founder and CEO, Airbnb, let 1,900 employees know they had lost their jobs.




b

'Govt should present new Budget'

'This prime minister thinks he knows everything.' 'He has to consult, he has to talk and he has to mobilise the best people, but having seen him function, I have no expectations from him.'




b

Rs 5,500-crore kickback charge slapped on Rana Kapoor

Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.




b

The businessman who got richer during the lockdown

Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.




b

Be warned! Dark economic times ahead!

'Two consecutive quarters of negative growth are the technical definition of an economic recession, and for the first time in this generation's memory, we may be staring at one,' observes Aakar Patel.




b

Markets get a Reliance boost to end in green

Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.




b

After UP and MP, Gujarat exempts cos from labour laws

Except for laws pertaining to the payment of minimum wages, following safety norms and adequate compensation for workers in case of industrial accidents, no other provisions of the labour law would apply to all new companies that wish to operate in the state for at least 1,200 days, and for those that have already been operational for that period.




b

Vashi market to shut, Mumbai faces vegetable shortage

The government of Maharashtra decided to shut operations at APMC Vashi mandi between May 11 and 17 after confirmed cases of Covid-19 surpassed 80 in the APMC and over 450 across Navi Mumbai, where the mandi is located.




b

Loan defaulters flee India, SBI complains after 4 yrs

According to the complaint filed by SBI, the account had become non-performing asset on January 27, 2016.













b

Keith Urban lets fans ‘Get Closer’ on next tour




b

Faithfull still rocks but acts her age

















b

Beat Box: Gulaab Gang




b

Don’t Look Back in Anger