Business Archives - Page 5 of 5

Ruia Group’s PK Ruai gives takeovers a new dimension

3Aug

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Ruia Group’s PK Ruai gives takeovers a new dimension

The announcement of Dunlop Tyres reopening on the Durga Pooja of 2006 was a sigh of relief for the 4,000 workers who would get their jobs back. Ruia Group’s confident takeover of tyre companies Dunlop and Falcon was a news that generated quite a few headlines. Dubbed as the ‘turnaround tycoon’, Pawan Kumar Ruia, started with Ruia Cotex, his first venture, a textile manufacturing company in 1995. Within two years, he set up Kamalpur Sugar Mill, and then thought to acquire companies. Thus started his love for acquisition. What brought PK Ruia back in the news was the decision to take over the ailing Jessop in 2003. The PSU, Jessop and Company, was suffering losses, and the amount stood at around Rs 4crore per month. The heavy-engineering railway wagon manufacturer at that time had ver...

Once a Favorite, Rep. Diane Black Loses The Tennessee Governor’s Primary Race

3Aug

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Business, World News

Once a Favorite, Rep. Diane Black Loses The Tennessee Governor’s Primary Race

Rep. Diane Black (R-TN), a long-time favorite to win Tennessee’s governor’s race, just lost her primary — the latest House Republican casualty in the 2018 midterm cycle. Bill Lee, a business executive from south of Nashville, clinched a victory in Tennessee’s Republican primary, in what turned out to be a contentious race between four top-tier Republican candidates. At the time the race was called, Black was in third, behind Randy Boyd,a former Department of Economic and Community Development commissioner from Knoxville. Lee, a family business owner and cattle farmer, ran as an outsider candidate; on policy he was as conservative as his primary opponents, but he benefited from being left out of the crossfire. He will face former Nashville Mayor Karl Dean, a Democrat, in November. The ra...

Gold buying sees an upsurge, major players look forward to capitalizing the market

1Aug

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Business

Gold buying sees an upsurge, major players look forward to capitalizing the market

More than a precious material, gold has been a sentiment in the Indian market. There are traditions that revolve around gold. However, changing trends have brought a change in the outlook of the new generation, and the gold buying patterns have shifted in comparison to what they were a few years ago. The love for gold in millennials had gone down. With many other options coming up, it was not being considered as an investment option. However, it’s interesting to note that the gold market has picked up recently after a sabbatical of almost 5 months. Also, emerging from the aftereffects of GST, demonetization and falling Rupee prices, the gold market has seen an upsurge in demand. The gradual change that is visible, can be considered as a sign of things going back to its glory days. ...

Vijay Mallya’s Properties Can Be Searched And Seized, Says UK Court

31Jul

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Business, Politics News Buzzfeednewz – Latest Politics news 2018, daily National Politics news, International Politics News, World News

Vijay Mallya’s Properties Can Be Searched And Seized, Says UK Court

NEW DELHI - A consortium of Indian banks can search and seize the properties of Indian businessman Vijay Mallya in Britain, media reports said on Thursday, citing the decision of a British court. India wants to extradite Mallya from Britain on fraud charges and to help nearly a dozen Indian banks recover loans granted to his defunct Kingfisher Airlines after the tycoon, co-owner of the Force India Formula One motor racing team, fled to Britain in March 2016. The case against Mallya centres on a series of loans Kingfisher obtained from Indian banks, and in particular from state-owned IDBI. Indian banks want to recover more than $1 billion that Indian authorities say Kingfisher owes. The British court order allows the UK High Court Enforcement Officer to enter Mallya's properties in...

Pompeo Says The US Will Spend $113 Million To Promote Business In Asia. China Plans To Spend $1 Trillion.

31Jul

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Business, Politics News Buzzfeednewz – Latest Politics news 2018, daily National Politics news, International Politics News, World News

Pompeo Says The US Will Spend $113 Million To Promote Business In Asia. China Plans To Spend $1 Trillion.

Secretary of State Mike Pompeo announced Monday that the State Department will spend $113 million to support “new US initiatives to support foundational areas of the future: digital economy, energy, and infrastructure” in the Indo-Pacific. The announcement came as part of a speech delivered to the Indo-Pacific Business Forum at the US Chamber of Commerce on Monday. In it, Pompeo outlined his “economic vision” for the Indo-Pacific, which the Trump administration has repeatedlyhighlighted as a strategic region, even as it neglects to say exactly what it means. But Pompeo’s call for the US to “deepen engagement” in the Indo-Pacific highlighted two potential problems with the administration’s economic vision for Asia. For one, it’s seemingly at odds with Trump’s trade policies. And its p...

The $120-Billion Reason We Can’t Expect Facebook to Police Itself

29Jul

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Business, Social Media

The $120-Billion Reason We Can’t Expect Facebook to Police Itself

This week, we got a glimpse of why tech giants like Facebook and Twitter appear so reticent to clean up their platforms. As they face increasing scrutiny from the media, users, and regulators in Europe and the United States over privacy, how they police their sites, and fake news, expecting them to self-regulate is a demanding ask: even minimal efforts to address issues with their platforms, or just the threat of them, garnered an enormous backlash from Wall Street. Facebook’s stock saw the biggest one-day drop in history on Thursday, with $119 billion wiped off of its value after the company reported slower-than-expected revenue growth for the second quarter of 2018 and said it expects declines to continue in the second half of the year. The Menlo Park, California-based company also show...