Companies News

Sitharaman: Cabinet nod to strategic disinvestment of BPCL, 4 other PSUs

Nirmala Sitharaman announced that Cabinet had approved strategic disinvestment in five PSUs— Bharat Petroleum Corporation Limited, Shipping Corp of India, Container Corporation of India (Concor), THDCIL and NEEPCO— while retaining management control.

Blue Star launches room ACs with in-built air purifiers

Blue Star on Wednesday announced the launch of a room air conditioner (AC) with in-built air purifier.

Tata Steel confirms job cuts of up to 3,000 across European operations

Tata Steel has confirmed cuts of up to 3,000 jobs across its European operations as part of a wider restructuring and cost-cutting strategy to counter stagnant steel demand in Europe and global overcapacity.

Dilip Buildcon bags Rs 2,123 crore order from Coal India arm

Dilip Buildcon on Tuesday said it has bagged an order worth Rs 2,122.74 crore from Northern Coalfields Ltd, a subsidiary of Coal India, for removal of overburden at a mining project in Madhya Pradesh.

ArcelorMittal aims to complete Essar Steel acquisition by 2019-end

ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (‘ESIL') has been unconditionally approved by the Supreme Court of India and the approval of AMIPL's resolution plan is the final procedural step in ESIL's corporate insolvency process, the company said in a statement.

Vodafone Idea, Airtel to hike tariffs from Dec 1; first for sector in over five years

Vodafone Idea last week reported consolidated loss of Rs 50,921 crore - highest ever loss posted by any Indian corporate - for the second quarter ended September 30, on account of liability arising out of the Supreme Court order in the adjusted gross revenue case.

‘For debt investments, we will do holistic management check like we do for equities’: CEO, Bajaj Allianz Life Insurance

Tarun Chugh, CEO, Bajaj Allianz Life Insurance told The Indian Express that life insurance sector can’t remain in its own microcosm for too long because ultimately consumers will stop spending.

SoftBank’s Yahoo Japan, Line Corp announce merger

The companies aim for a definitive agreement by next month in a transaction that will see SoftBank Corp and Naver form a 50:50 venture that will control Z Holdings, which will in turn operate Line and Yahoo.

How FedEx cut its tax bill to $0

FedEx’s financial filings show that the law has so far saved it at least $1.6 billion. Its financial filings show it owed no taxes in the 2018 fiscal year overall. Company officials said FedEx paid $2 billion in total federal income taxes over the past 10 years.

Anil Ambani, 4 others quit board of Reliance Communications

According to a stock exchange filing, Ambani, along with Chhaya Virani, Ryna Karani, Manjari Kacker and Suresh Rangachar, has resigned as a director of RCom.

Anil Ambani resigns as director of Reliance Communications

The company in a filing said that Ambani along with Chhaya Virani, Ryna Karani, Manjari Kacker, Suresh Rangachar have resigned as directors of RCom.

Supreme Court clears way for ArcelorMittal to acquire Essar Steel

Upholds supremacy of Committee of Creditors, could speed up resolution of other insolvency cases