Another shake up for the retail industry could be coming soon. Reports indicate online retailer Amazon is in advanced talks to buy close to 10% stake in Kishore Biyani’

Retail Rush: Amazon looking to buy stake in Future Retail

Another shake up for the retail industry could be coming soon. Reports indicate online retailer Amazon is in advanced talks to buy close to 10% stake in Kishore Biyani’s Future Retail that holds brands like Big Bazaar and FoodHall. The  deal could be valued around Rs 2,000 crores and could also reportedly include Amazon buying out the entire  promoter group  holding in the future .Final touches to the deal are expected  within the next ten days, although sources indicate in case of last-minute hurdles the deal could be announced in January 2019.

The ban on international flights has been further extended till August 31, the Director General of Civil Aviation (DGCA) said. The ban on international comme

International flights may remain banned till August 31

Ban on international flights extended till August 31: DGCA

The ban on international flights has been further&nbsp;extended till August 31, the&nbsp;Director General of Civil Aviation (DGCA) said.
The ban on international commercial flights to and from India was going to end on July 31.
However, international flights on selected routes on a case-to-case basis may continue to operate, the DGCA mentioned.
International flights have been banned since March 23 due to the Covid-19 pandemic.

Big bets coming in for Tech Mahindra as it clocks in the highest ever quarterly revenue and profits. Profit was up 25% while constant currency revenue growth was up alm

Tech Mahindra: Brokerage raise bets as profit and revenues hit record high

Buzzing Stock Alert

Big bets coming in for Tech Mahindra as it clocks in the highest ever quarterly revenue and profits. Profit was up 25% while constant currency revenue growth was up almost 4%, the highest in over 6 quarters.&nbsp; Brokerages are betting bigger on the stock,&nbsp;CLSA&nbsp;has raised FY22/ FY23 EPS estimates by 3% each. The broking house says the risk-reward is favourable given a relatively inexpensive valuation. They retain a BUY rating and raise target price from Rs1,300 to Rs1,380.&nbsp; Tech Mahindra&nbsp;is currently trading at a fresh 52-week high.&nbsp;

Another shake up for the retail industry could be coming soon. Reports indicate online retailer Amazon is in advanced talks to buy close to 10% stake in Kishore Biyani’s Future Retail that holds brands like Big Bazaar and FoodHall. The deal could be valued around Rs 2,000 crores and could also reportedly include Amazon buying out the entire promoter group holding in the future .Final touches to the deal are expected within the next ten days, although sources indicate in case of last-minute hurdles the deal could be announced in January 2019.

With reports of IDBI Bank fully recovering its dues from now-defunct Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he

With reports of IDBI Bank fully recovering its dues from now-defunct&nbsp;Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money.
Posting on twitter a clipping of a news item that reported that IDBI Bank has recovered its entire dues totalling Rs 753 crore from the airlines, Mallya said, "And the Banks say I owe them money!".
His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the&nbsp;State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by Kingfisher Airlines.
&nbsp;

Even a $100 billion mark in revenues was not good enough for Amazon as the stock plunged as earnings missed estimates. The pandemic push for the e-commerce giant seems

Even a $100 billion mark in revenues was not good enough for Amazon as the stock plunged as earnings missed estimates. The pandemic push for the e-commerce giant seems to be slowing as people get back to stores across the US. Amazon&rsquo;s revenue grew by 27% to $113.08 billion vs a 40% growth in the same period last year. The outlook was also not an upbeat one, the CFO told analysts, "We&rsquo;re starting to lap that and that&rsquo;s why you see some of the growth rate coming down.&rdquo;, adding that Amazon expects to see slower growth continue for the next few quarters.
For July-September quarter which would be Andy Jassy's&nbsp;first quarter as CEO,&nbsp;&nbsp;Amazon said it expects to book sales between $106-$112 billion which transaltes to a&nbsp;growth of 10% to 165 which is much below street estimates. Credit to the new CEO, Jassy&nbsp;managed unit of&nbsp;AWS&nbsp;saw revenue jump 37%&nbsp; the biggest year-over-year sales jump in two years. The company&rsquo;s &ldquo;other&rdquo; revenue category, primarily advertising sales, gained 87% to $7.92 billion.

The Maharashtra Food and Drug Authority (FDA) on Thursday said it has issued notices to e-commerce giants Amazon and Flipkart after it allegedly found that pregnancy te

The Maharashtra Food and Drug Authority (FDA) on Thursday said it has issued notices to e-commerce giants Amazon and Flipkart after it allegedly found that pregnancy termination kits and pills are available for sale on these platforms without prescription.
The Drugs and Cosmetics Act, 1940 prohibits online distribution of such medicines without any prescription, it said in a statement here.
Acting on a tip-off, the FDA placed orders for "medical termination of pregnancy" kits on Amazon, and the order was accepted by some suppliers based in Uttar Pradesh and Odisha, the authority alleged.
A similar case was found with Flipkart, the FDA alleged. The statement did not give any details of the notices. All in all, it "checked" 34 e-commerce portals to see if they sell medicines without prescriptions, the FDA said.

'Master Blaster', Sachin Tendulkar further strengthened his ties with digital entertainment technology company JetSynthesys by pitching in $2 millio

'Master Blaster',&nbsp;Sachin Tendulkar&nbsp;further strengthened his ties with digital entertainment technology company&nbsp;JetSynthesys&nbsp;by pitching in $2 million&nbsp; as investment.&nbsp; JetSynthesys is one of the leading names in the gaming industry and is known for developing mobile games with high fidelity and network play.&nbsp;The company had previously joined hands with Tendulkar to launch two platforms including gaming apps Sachin Saga Cricket Champions, Sachin Saga VR and digital destination for all things cricket, 100MB. JetSynthesys&nbsp; already boats of investors such as Adar Poonawalla,&nbsp;Kris Gopalakrishnan&nbsp;and&nbsp;the promoters of&nbsp;Thermax, Triveni Group.&nbsp;

SoftBank-backed Oyo Hotels & Homes is likely to see an investment coming in from on the world's largest tech companies Microsoft as per unconfirmed reports. So

SoftBank-backed Oyo Hotels &amp; Homes is likely to see an investment coming in from one the world's largest tech companies Microsoft as per unconfirmed reports.&nbsp; Sources have told ET that Microsoft will likely pick up a small stake in Oyo&nbsp;giving the startup a valuation of around $9 billion. Microsoft reportedly will have the option of raising stake in the company as well.&nbsp; Oyo is currently backed by investors such as SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Airbnb and Hero Enterprise.

The US will conduct a rare second lottery for the H-1B visa to decide on the successful applicants. This move which would provide another chance to hundreds of Indian I

The US will conduct a rare second lottery for the H-1B visa to decide on the successful applicants. This move would provide another chance to hundreds of Indian IT professionals who could not make it in the first random selection.&nbsp; In June, the US immigration agency received over 3.1 lakh applications during the initial registration out of which&nbsp;87,500 applicants were selected.&nbsp; The US Citizenship and Immigration Services (UCIS) will start accepting fresh applications from August 2 till November 3, it said in a statement. Online filing is not available for H-1B petitions. Petitioners filing H-1B petitions must do so by paper and must include a printed copy of the applicable registration selection notice with the FY 2022 H-1B cap-subject petition.

The Rs 500-crore Tatva Chintan IPO has seen a blockbuster listing on Thursday with its scrips trading at more than double its issue price. The

The Rs 500-crore&nbsp;Tatva&nbsp;Chintan&nbsp;IPO&nbsp;has seen a blockbuster listing on Thursday with its scrips&nbsp;trading at more than double its issue price.
The IPO,&nbsp;which was offered at a price band of Rs 1,073 to Rs 1,083, was listed with a 90% gain. Tatva&nbsp;Chintan&nbsp;shares moved higher to touch over Rs 2,500 level, minutes after getting listed on the exchanges.
However, with such a stellar listing, concerns about its valuations arise. At the current price, shares of Tatva&nbsp;Chintan&nbsp;has a PE value over 90 times which is against the sector valuation of near 70 times.

July 29 marks the 117th birth anniversary of Jehangir Ratanji Dadabhoy Tata, better known as JRD Tata the longest-serving chairman of Tata group and the founder of

July 29 marks the 117th birth anniversary of Jehangir Ratanji Dadabhoy Tata, better known as JRD Tata&nbsp;the longest-serving chairman of Tata group and the founder of many Tata companies. But he was much more than that JRD was an aviation pioneer, art connoisseur, philanthropist, skier and letter writer.
Corporate social responsibility became a big cornerstone of the Tata Group DNA under JRD&nbsp; with institutes like the Tata Institute of Fundamental Research, the Tata Memorial Hospital, the Tata Institute of Social Sciences, the National Institute of Advanced Sciences and the National Centre for the Performing Arts emerging as vital institutions under his leadership.
Here are some of the lesser known facts about JRD-:
<ul>
<li>He was born in Paris, France</li>
<li>Served the French Military,&nbsp;was revered with the French Legion of Honor, the highest award for military merits.</li>
<li>Did not attend college as he was called back to India to lead the Tata Group</li>
<li>He joined the Tata group in 1925 as an unpaid trainee.</li>
<li>JRD was India&rsquo;s first licensed pilot in 1929.</li>
<li>On his death, the Indian Parliament was adjourned in mourning; an honour not given to Non-Member of Parliament.</li>
</ul>
&nbsp;
&nbsp;

Aviation veteran and former Indigo president Aditya Ghosh will join Rakesh Jhunjhunwala in his new upcoming venture. Ace investor Rakesh Jhunj

Aviation veteran and former Indigo president Aditya&nbsp;Ghosh&nbsp;will join Rakesh&nbsp;Jhunjhunwala&nbsp;in his new upcoming venture.
Ace investor Rakesh&nbsp;Jhunjhunwala&nbsp;is said to be planning to launch an ultra-low-cost airline Akasa, modeled just like Irish carrier Ryanair&nbsp;which is one of the most successful and aggressive affordable airlines in the world.
As per the reports, Ghosh&nbsp;will own somewhere around 10% of the airline.
Rakesh&nbsp;Jhunjhunwala&nbsp;will invest $35 million and would own 40% of the firm as he believes more people will travel through the air going forward.
&nbsp;

Return to office plans for corporate America is taking a back seat as the United States faces a fresh surge of Covid cases and rising vaccine hesitancy in many par

Return to office plans for corporate America is taking a back seat as the United States faces a fresh surge of Covid&nbsp;cases and rising vaccine hesitancy in many parts of the country.&nbsp;Nationwide, the four-week Covid case count has more than doubled from the previous four weeks. This is making companies rework "back to office" plans.&nbsp;
<ul>
<li>Google: Will&nbsp;push back its official office return to mid-October and require workers at its campuses to get vaccinated.</li>
<li>Apple: Back to requiring mask at US retail stores, delays return to office by a month&nbsp;</li>
<li>Facebook: Will require employees to be vaccinated to be able to return to work</li>
<li>Lyft Inc.&nbsp;is now calling&nbsp;employees&nbsp;back in February</li>
<li>Ford Motor is reinstating mask&nbsp;mandates&nbsp;at some of its facilities.</li>
</ul>
Read/Watch Also: <a href="https://www.edtr.ai/9zxn">Masks are back on in the US</a>
As per data available from Kastle Systems almost 35% of U.S. workers were back at their offices as of July 21, vs&nbsp; 29% at the start of June. Finance firms and banks which had asked for employees to return in June are yet to make any changes to in-office staff policy despite the new CDC&nbsp;guidelines to get masks back on.&nbsp;

Market regulator Securities and Exchange Board of India (SEBI) imposed a fine on Shilpa Shetty, Raj Kundra and Viaan Industries, the company they own for violation

Market regulator Securities and Exchange Board of India (SEBI) imposed a fine&nbsp;on Shilpa Shetty, Raj Kundra and Viaan Industries, the company they own for violation of insider trading norms. According to a SEBI&nbsp;order, a total fine of Rs 3 lakh has been imposed on&nbsp;Shilpa&nbsp;Shetty&nbsp;and&nbsp;Ripu Sudan Kundra, who is also known as Raj Kundra. The fine is for&nbsp;disclosure lapses which were discovered following&nbsp;a probe conducted between September 2013- December 2015.
In 2015, Viaan Industries had allotted 128,800 shares each to Shetty and Kundra. According to SEBI regulations, the duo had to inform the company within two days the receipt of shares since its value exceeded Rs 10 lakh. Moreover, the company had to inform the same to the stock exchanges. The disclosure finally happened in May 2019.
&nbsp; Read/Watch Also: <a href="https://www.edtr.ai/a02d">The latest from&nbsp;Raj&nbsp;Kundra's alleged porn racket</a>

The Union Cabinet on Wednesday approved amendment to the DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under mora

The Union Cabinet on Wednesday approved amendment to the DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium to ensure timely support to depositors.
The Bill is expected to be introduced in the current monsoon session, Finance Minister Nirmala Sitharaman said, while sharing details about the Cabinet meeting.
Once the Bill becomes law, it will provide immediate relief to thousands of depositors, who had their money parked in stressed lenders such as PMC Bank and other small cooperative bank
&nbsp;

It was a blockbuster earning from world's most valuable tech company Apple as iPhone sales increased nearly 50% and overall sales were up 36% beating analysts

It was a blockbuster earning from world's most valuable tech company Apple as&nbsp;iPhone sales&nbsp;increased nearly 50% and overall sales were up 36% beating analysts' estimates across the board. Yet, the stock took a beating as the outlook did not connect as well.&nbsp; Read/Watch Also:&nbsp;<a href="https://www.edtr.ai/9yw9">When is the iPhone&nbsp;13 coming?</a> Apple though did not give a formal earnings guidance warned shareholders that the July-September quarter may not be as robust due to prevailing chip shortage. Apple CEO Tim Cook said in a call with analysts that Apple is seeing supply constraints related to &ldquo;silicon&rdquo; ( computer chips) that would affect the company&rsquo;s iPhone and iPad sales in the September quarter.

With global firms like Tesla setting their eyes on Indian EV markets, there is a small argument over import duties that has triggered between the big EV makers. A

With global firms like&nbsp;Tesla setting their eyes on Indian EV markets, there is a small argument over import duties that has triggered between the big EV makers.
After Seon&nbsp;Seob&nbsp;Kim, MD &amp; CEO, Hyundai India, backed Tesla's call to lower duties in India, OLA's&nbsp;Bhavish&nbsp;Aggarwal&nbsp;tweeted asking for confidence in indigenously&nbsp;build EVs.
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9sq3" target="_blank">Gear Up for Ola Scooter! With the big EV bet Bhavish Agarwal gears to be the Tesla of India</a>
"Let&rsquo;s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import. We won't be the first country to do so," the Ola CEO added.
Paytm CEO Vijay Shekhar Sharma responded to Aggarwal's tweet saying, even though&nbsp;he was waiting for a Tesla, he would love that India has&nbsp;everyone&rsquo;s factories.
Tesla founder Elon&nbsp;Musk, a few days ago, pointed out that&nbsp;import duties in India are the highest in the world.

It was a campaign that started a 1000 days ago with the cofounder of cyrpto platform WaxirX raising awareness towards the need for cryptocurrency acceptance in Ind

It was a campaign that started a 1,000-day-ago with the co-founder of India's biggest&nbsp;crypto&nbsp;exchange platform WazirX&nbsp;raising awareness towards the need for cryptocurrency acceptance in India.&nbsp;
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9zjp" target="_blank">Crypto group to self regulate! Advertising guidelines on the anvil</a> With early 15 million Indians invested in #cryptocurrencies&nbsp;early $ 6.6 billion&nbsp;(Rs 49,189 crore) have been invested in the blockchain-based&nbsp;digital coins. India currently ranks 11 out of 154 nations in terms of cryptocurrency adoption, as per blockchain data firm Chainalysis. One of the biggest hurdles preventing wider adoption is regulatory uncertainty. Despite the Supreme Court&nbsp;quashing a 2018 rule banning crypto trading by banking entities the resistance from North Block has kept main market participants from opening investment options as there is no clarity in taxation on the income from the digital token either.&nbsp; With no mention of the crypto&nbsp;bill in the Monsoon Session of parliament, expect the social campaign of #IndiaWantsCrypto to continue taking social media by storm.&nbsp;

The Rs 1,500-crore-worth Glenmark Life IPO is oversubscribed by 50% on Day 1 as the investors look at the promising business ahead. From supplying A

Retail investors are rushing towards the&nbsp;Rs 1,500-crore-worth&nbsp;Glenmark&nbsp;Life IPO&nbsp;which was full subscribed within hours of opening . So what is enthusing traders and investors in this pharma&nbsp;play Here is what you need to know about the Glemark Life-:
<ol>
<li>Growth Trigger: The company is expected to be supplying the API for Covid&nbsp;drug&nbsp;Favipiravir for Glenmark.</li>
<li>Promising Portfolio: With a strong showcase &nbsp;of 120 molecules globally.&nbsp;16 of the 20 largest generic companies globally were its customers.</li>
<li>Areas of Expertise: The future growth of its 120 molecules products is expected to remain stable driven by the increasing prevalence of non-communicable diseases like heart disease, stroke, cancer, diabetes and chronic lung disease.</li>
<li>Expansion: Plans to increase its API manufacturing capabilities.</li>
<li>Next Phase: Expanding into Complex APIs&nbsp;such as oncology, iron replacement, peptides.</li>
</ol>
Glenmark&nbsp;Life is also trading at a discount vs peers such as Divis&nbsp;Lab. The company will also be debt free post IPO&nbsp;and currently faces no regulatory issues on any of it's plants.&nbsp;

Google reported earnings well above Wall Street estimates as the search-and-services company posted revenues of $61.9 billion in the April-June quarter. The big su

Google reported earnings well above Wall Street estimates as the search-and-services company posted revenues of $61.9 billion in the April-June quarter.&nbsp; The big surge came in from advertising&nbsp;Google ad revenue increased to $50.44 billion, up 69% from the year-ago quarter. Analysts also took note of YouTube gaining&nbsp;traction as revenues clocked in at $7 billion just shy of equalising with OTT&nbsp;platform Netflix at $7.4 billion.&nbsp;YouTube&nbsp;also disclosed that its YouTube Shorts product has &ldquo;surpassed 15 billion global daily views,&rdquo; up 131% from the 6.5 billion global daily views that it detailed in March.&nbsp; Also watch: Apple earnings soar but stock takes a hit as worries rise Meanwhile Google Chief Sundar&nbsp;Pichai&nbsp;took a moment in the earnings call to encourage everyone to get a jab.&nbsp;As the pandemic evolves, we want to help people get the information they need to keep themselves and their families safe,&rdquo; Pichai said. &ldquo;I really encourage everyone to get the vaccine when it&rsquo;s available to you.&rdquo; Read/Watch Also: Masks back on in the US as cases soar

The IMF may not have changed the headline figure of global growth of 6% but the story lies behind the number. The composition of global growth has seen a dramatic

The IMF&nbsp;may not have changed the headline figure of global growth of 6% but the story lies behind the number. The composition of global growth has seen a dramatic change.&nbsp;IMF warns that the fault lines are widening between advanced economies with access to vaccines vs developing economies that are struggling with inoculations.&nbsp; IMF&nbsp;chief Gita&nbsp;Gopinath&nbsp;writes in the outlook report that&nbsp;"Prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. By contrast, the forecast for advanced economies is revised up." This trend is evident as&nbsp;IMF&nbsp;sees the US economy driving global growth with a&nbsp;7% print in 2021 and a 4.9% growth in 2022.China as well is projected to see a 8.1% growth followed by 5.7% growth over the next two years.&nbsp; The real concern comes in for&nbsp;India that has seen the largest downgrade to growth now down to 9.5% in the current year and 8.5% the next year.&nbsp; But this is not the worst case scenario,&nbsp;IMF&nbsp;warns that "a double hit to emerging market and developing economies from worsening pandemic dynamics and tighter external financial conditions would severely set back their recovery and drag global growth below this outlook&rsquo;s baseline."
The big worry globally is now the inflation monster and the IMF&nbsp;is hoping that from the Fed to the emerging market central bankers will look through this phase and not act in haste as it states, "Central banks should generally look through transitory inflation pressures and avoid tightening until there is more clarity on underlying price dynamics."
&nbsp;

Retail Rush: Amazon looking to buy stake in Future Retail

explore newslists

1/3