Daily News Podcast: Court summons Chidambaram's family over black money case : Bulletin: Business Today
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Daily News Podcast: Special court summons P Chidambaram's wife, son

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June 20, 2018

Court summons Chidambaram's wife, son over black money complaint

A special court for economic offence cases has summoned former union minister P Chidambaram's wife, son and daughter-in-law to appear on June 25 in connection with the prosecution initiated by the Income Tax Department under the Black Money Act. The special court issued summons to Nalini Chidambaram, Karti Chidambaram and his wife Srinidhi on the basis of a complaint filed by the Income Tax Department over alleged non-disclosure of overseas assets, which is an offence under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act. According to the tax department, the trio failed to disclose a property they jointly own in Cambridge in the UK, worth Rs 5.37 crore.
Uber appoints Pradeep Parameswaran as India and South Asia operations head

US-based cab aggregator Uber today said it has elevated Pradeep Parameswaran as President of its India and South Asia operations. He succeeds Amit Jain, who was elevated to the role of Head of Asia Pacific region last month. Parameswaran had joined Uber in January last year and was leading operations for Uber in India and South Asia. He has been associated with companies like Hindustan Lever, McKinsey & Co, and Den Networks. South Asia, including India, is an important market for Uber where it competes with homegrown Ola.

Jeff Bezos adds $5 billion to his kitty in less than a month while Amazon employees demand fair wages

In less than a month, Amazon founder and CEO Jeff Bezos has reportedly added $5 billion to his wealth, taking his net worth to $141.9 billion. According to media reports, he is now $49 billion richer than Microsoft's Bill Gates, who came in second on the latest Forbes World's Billionaires list. But this news of his success comes against the backdrop of disgruntlement among his employees. According to the Daily Mail, last week over 400 employees of the Washington Post signed an open letter to Bezos demanding fair wages and better working conditions. The world's richest man had bought the newspaper for $250 million in 2013.

White House: China has 'much more to lose' in trade dispute

China has more to lose than the United States in the two nations' burgeoning trade dispute but Washington remains open to dialogue with its largest trading partner, a senior White House advisor has said. Trade brinkmanship between Washington and Beijing continued late yesterday when President Donald Trump threatened to put fresh duties on between USD 200 billion and USD 400 billion in Chinese imports. The possible new duties, which could cover the lion's share of all of China's exports to the United States, were a response to retaliatory Chinese levies on up to USD 50 billion in US goods announced Friday.

Bharat 22 ETF further fund offer opens, anchor investors put in bids worth Rs 5,163 crore

The second innings of Bharat-22 ETF, Narendra Modi government's key divestment initiative, started on a strong note on the first day of the further fund offer with anchor investors putting in bids 3.44 times of their allocated portion to the tune of Rs 5,163 crore. The Modi government is eyeing to raise up to Rs 8,400 crore via this ETF issue to attain the ambitious target of raising Rs 72,500 crore through disinvestment in the current fiscal. On Tuesday, the government launched the FFO of Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 companies.
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