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How Harley-Davidson lost its rumble in India

How Harley-Davidson lost its rumble in India

Harley said in a regulatory filing Thursday that it was discontinuing sales and manufacturing operations in the world’s second most populous country as part of its company-wide restructuring, or the “Rewire” plan, a five-year strategy to reset its business, focus on high-priority markets and tighten up by streamlining models.

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Fund managers help clients with Covid issues

Fund managers help clients with Covid issues

Top private equity and venture capital companies including Carlyle, KKR, Zephyr Peacock and Tata Capital have in the last few months created special crisis response teams and platforms to secure their investment and ringfence them from the disruption caused by the pandemic, said industry trackers.

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Accenture offers 7-month severance payout to staff

Accenture offers 7-month severance payout to staff

Accenture is offering a seven-month severance payout to employees impacted by its latest layoffs. The package is high considering most companies offer a two-three months’ payout, or one month of salary for every year of service put in.

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Infy’s data and analytics biz is now $3 bn

Infy’s data and analytics biz is now $3 bn

Satish HC, EVP and head of global services for DNA, says they realised early on that data had become a new pivot for business transformation.

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5G: Telcos stay clear of Chinese gear makers

5G: Telcos stay clear of Chinese gear makers

Vodafone Idea has joined Reliance Jio Infocomm, Bharti Airtel and state-run Bharat Sanchar Nigam Ltd (BSNL) in naming European and American equipment makers as preferred partners for 5G trials, effectively shutting out Chinese companies Huawei and ZTE.

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Ex-official defends govt on Vodafone tax

Ex-official defends govt on Vodafone tax

The official said while the International Court of Arbitration relied on the Supreme Court decision that the 2007 deal between Vodafone and Hutchison was outside the purview of India’s tax laws, the Bombay High Court had backed the "clarificatory" amendment to the income tax law.

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View: Exorcise ghost of retrospective tax law

View: Exorcise ghost of retrospective tax law

The question of law which the Supreme Court had unequivocally addressed was that although what was transacted was an Indian Telecom Network, the Indian Tax Laws could not tax a transaction where what was transacted was shares of an overseas entity.

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Mid-range phones catch Indians’ fancy now

Mid-range phones catch Indians’ fancy now

In the fashion category, products priced at less than Rs 500 accounted for 40% of the orders, down from Rs 1,000 earlier, as shoppers cut spending, Nielsen said.

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India among top 3 markets: Softbank

India among top 3 markets: Softbank

The top executive also said that Prime Minister Narendra Modi's recent call for Atmanirbhar Bharat (self-reliant India) has come at the right time since the country has developed strengths in the domain of software, talent, entrepreneurship, and manufacturing.

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Govt plans Rs 15k-cr pharma scheme

Govt plans Rs 15k-cr pharma scheme

The scheme intends to promote indigenous manufacture of complex generics, biosimilars and high value-add medicines, to boost domestic drug production and cut dependence on costly imports.

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PE funds may invest in Reliance Retail

PE funds may invest in Reliance Retail

One of them said the private equity funds are in talks to invest up to $1 billion each in the country’s largest retailer. In the past three weeks, Silver Lake and KKR have said they will invest slightly more than Rs 13,000 crore in the company, valuing Reliance Retail at Rs 4.21 lakh crore.

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As digital pay opens up, so do banking frauds

As digital pay opens up, so do banking frauds

Last year around this time, a Singapore-based cybersecurity firm Group-IB had flagged that nearly 1.3 million debit and credit card data of Indian banks are on sale for a whopping $130 million.

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Finmin defends retro amendment of 2012

Finmin defends retro amendment of 2012

Finance ministry officials strongly defended the controversial 2012 amendment that brought overseas indirect transfers retrospectively into the tax net.

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More Indians head to top B-schools abroad

More Indians head to top B-schools abroad

More Indian students are taking a shot at applying to top overseas business schools or STEM courses despite the Covid-19 pandemic, said leading education consultants, mirroring a trend seen during the 2008 global financial crisis.

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Positive pay sys to be effective from Jan 1

Positive pay sys to be effective from Jan 1

Under the positive pay system, the issuer of the cheque will be required to submit electronically, through SMS, mobile app, internet banking or ATM certain minimum details of that cheque like date, name of the beneficiary, payee, amount to the drawee bank.

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'8 cos bid to build bridges on bullet train route'

'8 cos bid to build bridges on bullet train route'

The National High Speed Rail Corporation Limited (NHSRCL) opened technical bids for two packages for the bullet train project between Mumbai and Ahmedabad on Friday.

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India-China standoff: Trump offers to mediate

India-China standoff: Trump offers to mediate

The US president's remarks come days after senior Indian and Chinese military commanders held talks to resolve the months-long standoff along the Line of Actual Control (LAC) in Ladakh.

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I never blamed Anushkha: Sunil Gavaskar

I never blamed Anushkha: Sunil Gavaskar

Gavaskar said that during the lockdown Kohli faced only Anushka's bowling.

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Govt to study Voda arbitration case award

Govt to study Voda arbitration case award

An international arbitration tribunal in The Hague ruled that India's imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands.

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Bank credit up 5.26%, deposits by 11.98%

Bank credit up 5.26%, deposits by 11.98%

Personal loans continued to perform well registering a growth of 11.2 per cent as compared with 17 per cent growth in July 2019. Within this sector, vehicle loans registered accelerated growth of 8.1 per cent in July 2020 as compared with the growth of 4.9 per cent in the corresponding month of the previous year, according to the data.

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S&P affirms India’s credit rating at BBB-

S&P affirms India’s credit rating at BBB-

“The stable outlook reflects our view that India's contraction in fiscal 2021 will be followed by a significant recovery, which will stabilize the country's broader credit profile,” S&P said. The outlook was underpinned by India’s above-average long-term real GDP growth, sound external profile, and policy stability, it said.

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Court grants bail to Malvinder Mohan Singh

Court grants bail to Malvinder Mohan Singh

Appearing on behalf of Malvinder, Advocate Manu Sharma contended that Malvinder’s brother Shivinder Singh has already been granted bail in the same case earlier this month and that the alleged role of Malvinder is identical with the role of Shivinder Mohan Singh. Sharma further argued that the Court has to maintain judicial consistency in such a matter.

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Harley close to deal with India's Hero

Harley close to deal with India's Hero

Harley is in talks with Hero over a distribution arrangement that will allow the Indian company to import and sell Harley bikes as its sole distributor, two sources with familiar with the talks said.

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India plans $4.6b in sops for battery makers

India plans $4.6b in sops for battery makers

A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.

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Ab InBev, IHCL's 1st microbrewery in B'luru

Ab InBev, IHCL's 1st microbrewery in B'luru

The microbrewery was in the making since the fourth quarter of last fiscal and original plan was to launch it in peak summer season which overlapped with the nationwide lockdown. Now, the world’s biggest brewer and country’s largest hospitality chain are banking on this pre-pandemic project to revive sales as both sectors have been hit hard amid travel curbs and negligible socializing.

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CERC operations not likely to begin soon

CERC operations not likely to begin soon

The commission has been non-functional since August 28 as the apex court had asked two members of CERC to go on leave till the time a member-law is appointed. Meanwhile, the sources in the government said it has shortlisted the suitable candidates but the regulatory approvals may take time.

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NCLAT to decide on Aircel's spectrum sale

NCLAT to decide on Aircel's spectrum sale

The government in various appellate and insolvency courts has said that spectrum is a national asset that cannot be transferred to a third party, unless statutory dues were paid and after approvals from the DoT.

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Hetero launches generic COVID-19 drug

Hetero launches generic COVID-19 drug

"The launch of 'Favivir 800/200' is aimed at enhancing patients' adherence to treatment regimen by reducing the number of pills they are required to consume per day," Hetero said. The product will be made available at all retail medical outlets and hospital pharmacies across the country and sold only on prescription, it added.

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GoAir CCO quits, 3rd top level exit since Aug

GoAir CCO quits, 3rd top level exit since Aug

The low fare carrier has, since its inception, seen frequent top level exits.

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ED attaches Rs 127 cr flat of Rana Kapoor

ED attaches Rs 127 cr flat of Rana Kapoor

The agency issued a provisional order for attaching the property -- Apartment 1, 77 South Audley Street, London -- under the Prevention of Money Laundering Act (PMLA).

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2 arrested in Religare Finvest FDs case

2 arrested in Religare Finvest FDs case

The bank in July 2017 had adjusted a fixed deposit of Rs 791 crore deposited by RFL toward the default on a loan made by RHC Holdings and Ranchem. This adjustment was disputed by Religare Finvest in the court. The FIR by Religare Finvest was registered on the basis of the internal probes and findings of regulatory authorities such as Sebi and the central bank.

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Negative outlook on transport, energy: Ind-Ra

Negative outlook on transport, energy: Ind-Ra

About energy infrastructure projects, it said it expects the effect of liquidity enhancement on distribution companies (discoms) to be temporary, and payables from discoms are likely to increase slightly by the end of 2020-21 year-on-year.

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Asset mgt cos eyeing stuck real estate projects

Asset mgt cos eyeing stuck real estate projects

Experts said this is the right time for asset management companies to create a better ecosystem of funds when liquidity support from major financial institutions and non-banking financial companies has dried up.

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India mulls gas price floor pegged to Asia LNG

India mulls gas price floor pegged to Asia LNG

Price of natural gas produced from domestic fields that were handed over to ONGC and Oil India Ltd. have fallen to the lowest in a decade and are below the imported price of the fuel.

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Paris knife attack: Terror probe opened

Paris knife attack: Terror probe opened

It is unclear what motivated the attack or whether it was linked to Charlie Hebdo, which moved after its offices were targeted in a 2015 Islamic extremist attack that left 12 people dead. Police cordoned off the area, including the former Charlie Hebdo offices, after a suspect package was noticed nearby, but the package was found to be harmless and no explosives were found.

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Bihar polls in 3 phases, results on Nov 10

Bihar polls in 3 phases, results on Nov 10

The EC also outlined the set of guidelines to be followed for the voting process amid the coronavirus pandemic with plans to strictly enforce social distancing norms and precautions at polling booths.

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EPFO records 8.45 lakh new enrolments in July

EPFO records 8.45 lakh new enrolments in July

The payroll data, released by the ministry of statistics and programme implementation on Friday, shows the members exiting the EPFO scheme fell to 3,12,744 as against 5,70,664 in June, which has been revised upwards while those who rejoined the scheme stood at 5,47,755 compared to 5,14,659 in June.

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ACC approves restructuring of SAIL's board

ACC approves restructuring of SAIL's board

"The Appointments Committee of the Cabinet has approved the restructuring of the board of SAIL. The 4 posts of CEOs of SAIL's integrated steel plants are to be elevated as functional directors by designating them as directors-in-charge of Bokaro, Rourkela, Bhilai and one director-in-charge jointly for Burnpur and Durgapur steel plants," statement said.

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PSBs on-board 1 crore account holders

PSBs on-board 1 crore account holders

The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government's Digital India initiative.

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US earmarks $150 mn to train H-1B workers

US earmarks $150 mn to train H-1B workers

According to the Department of Labor, prominent among these sectors are information technology, cybersecurity, advanced manufacturing, transportation, wherein the H-1B One Workforce grant programme would be used to upskill the present workforce and train a new generation of workers to grow the future workforce.

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Ex-mill tur dal at Rs 100/kg in K'taka, Maha

Ex-mill tur dal at Rs 100/kg in K'taka, Maha

Maharashtra-based pulsez processor Nitin Kalantry said, "Tur prices rose to Rs 90/kg during lockdown, which later corrected to Rs 82/kg. However, now they have started spiralling upward again. Pulses prices are likely to shoot up after October 5, when an uptake in demand for pulses is expected due to festival season demand."

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FFC may suggest cess for defence fund

FFC may suggest cess for defence fund

ET learns from multiple sources that the FFC, which is scheduled to submit by the end of October its report and recommendation on how union and state governments should share tax revenues for five years beginning 2021, is likely to suggest monetisation of land and sequestering a portion of import duties for the fund.

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Vakrangee gets RBI nod to set up payment unit

Vakrangee gets RBI nod to set up payment unit

Vakrangee (VL) has received in-principle authorisation to set up and operate BBPOU under the Payment and Settlement Systems Act, 2007 from the Reserve Bank of India (RBI), it said in a release.

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Animal spirits stabilize as virus rages on

Animal spirits stabilize as virus rages on

Activity in India’s dominant services sector continued to pick up, with the main index rising to 41.8 in August from 34.2 in July. While that’s a marked improvement from April’s record low of 5.4, a number below 50 suggests it’s still in contraction territory.

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Global GDP shrinks 7.2 per cent in Q2

Global GDP shrinks 7.2 per cent in Q2

Global real private final consumption expenditure (PFCE) declined at record 11 per cent last quarter (versus 2.1 per cent decline in 1Q CY09) while global real gross capital formation (GCF) fell only 6 per cent (versus 16 per cent in 1HCY09).

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Airtel regains active mobile users crown

Airtel regains active mobile users crown

Airtel’s active mobile user base has risen to 311 million (307 million) in June, while Jio and Vi’s have shrunk to 310 million (313 million) and 273 million (277 million) respectively over the previous month.

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Trump refuses to commit to transfer of power

Trump refuses to commit to transfer of power

The president doubled down on his stance just hours after prominent Republicans made it clear that they were committed to the orderly transfer of power, without directly rebuking him. “The winner of the November 3rd election will be inaugurated on January 20th,” Mitch McConnell, the Senate majority leader, wrote on Twitter early Thursday.

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Finding a green partner easier said than done

Finding a green partner easier said than done

In the world of cars, investors seem to love news of partnerships, synergies and cost-savings as expensive tech upends long-held rules of the road. They may need a reality check.

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GMR Infra sells 51% stake in Kakinada SEZ

GMR Infra sells 51% stake in Kakinada SEZ

As part of the proposed transfer of stake of KSEZ, the 100 per cent equity stake of Kakinada Gateway Port Ltd held by KSEZ would also be transferred to Aurobindo Realty,a press release from the infra major said.

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Tata, Jubilant looking at CCD's vending biz

Tata, Jubilant looking at CCD's vending biz

Tata Group, India’s biggest conglomerate, and Jubilant Food-Works (which owns the franchise for Domino’s and Dunkin’ Donuts in India), are weighing a bid for Coffee Day Group’s hot beverage vending machine business, said people with knowledge of the matter. The beleaguered Coffee Day Group is seeking Rs 2,000 crore for the business, which has piqued the interest of marquee global private equity funds too.

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