Newsmakers: United Breweries declared 'wilful defaulter', Amazon buys Emvantage and more

Key business news events for the day

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Amazon buys Indian payments processor Emvantage Amazon.com said it has acquired Indian payments processor Emvantage Payments for an undisclosed sum. Emvantage's employees will join Amazon's India unit that will use the company's technology on its e-commerce website, Amazon said in a statement.

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HCL Tech buys Volvo group's external IT biz, inks IT pactCountry's fourth-largest software services firm HCL Technologies said it has acquired Volvo group's external IT business and has signed a five-year outsourcing deal with the commercial vehicles maker. The acquisition, for which the companies signed a letter of intent in October, will add 40 new customers in the Nordic and France regions and 2,500 highly skilled employees from 11 countries to HCL's portfolio.

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Sensex ends 362 points lower on profit-bookingSnapping the three-long gaining streak, the S&P BSE Sensex wiped off all early gains to end the day 362 points on Tuesday, while broader CNX Nifty slipped below its key 7,050-mark after testing 7,200. The benchmark indices sank as investors booked profits in sectors such as banks and capital goods, while sentiment was also hit after data showed exports shrank in January for a 14th straight month.

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PNB declares United Breweries Holdings 'wilful defaulter'Vijay Mallya-led United Breweries Holdings said it has been declared a "Willful Defaulter" by Punjab National Bank (PNB) and the company is consulting lawyers to challenge the decision. Punjab National Bank vide letter dated February 11, has declared the company a "Willful Defaulter", United United Breweries Holdings Ltd (UBHL) said in a BSE filing, adding it received the letter on Monday.

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Vodafone receives $2 bn tax reminder notice The income tax department has issued a reminder notice to Vodafone Group Plc about a tax demand worth more than $2 billion, saying it could seize the British telecoms company's assets in India if it is not paid.