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BusinessToday.In
New Delhi, July 20, 2018
If you type the word 'idiot' on web search engine Google, it will direct you to at least five-six news stories along with the pictures of US President Donald Trump.


PTI
July 20, 2018
\"Let us fly the flag of trade and cooperation. India should get permanent membership in the UN Security Council as well,\" said David Cameron.


Reuters
July 18, 2018
The European Commission will fine Google a record 4.3 billion euros ($5 billion) on Wednesday over its Android mobile operating system.


BusinessToday.In
July 17, 2018
IMF said that the emerging market and developing economies have experienced \"powerful crosswinds\" in recent months, courtesy factors like higher yields in the United States, dollar appreciation, escalating trade tensions, geopolitical conflict, and rising oil prices.


Reuters
July 16, 2018
The Kremlin said it did not expect much from the meeting but hoped it would be a \"first step\" to resolving a crisis in ties.


PTI
July 14, 2018
The banks are among the first major companies to report results in what is expected to be a strong second-quarter earnings season thanks to US tax cuts and a humming American economy.


BusinessToday.In
July 14, 2018
On June 28, the US Immigration Department came out with a policy memorandum which allows the USCIS to issue 'Notices to Appear' in cases where, upon the denial of an application or petition, an applicant is unlawfully present in the United States.


BusinessToday.in
New Delhi, July 13, 2018
The Sensex is at an all time high with multiple factors fuelling the rally; the process of selection of the 'Institutes of Eminence' continues to create controversy; the US has threatened 10% tariff on $200 billion worth of imports from China. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


BusinessToday.In
July 13, 2018
A Donald Trump visit on Republic Day may well be tom-tommed by the government as India's biggest foreign policy coup in the run up to general elections next year.


Reuters
July 11, 2018
The Trump administration raised the stakes in its trade dispute with China, threatening 10 percent tariffs on a list of $200 billion worth of Chinese imports, sending stocks lower and prompting Beijing to warn it would be forced to respond.


Ananth Krishnan
July 10, 2018
India has particularly pressed China to open up its market for pharmaceuticals. There is widespread demand in China for Indian anticancer drugs which are often one-tenth the cost of the Western drugs that are available in China.


BusinessToday.In
New Delhi, July 6, 2018
The London mayor \"supports the right to peaceful protest and understands that this can take many different forms,\" as mentioned in a statement on Sadiq Khan's behalf.


Reuters
July 6, 2018
U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world's two biggest economies took a high-stakes turn towards all-out trade conflict.


BusinessToday.In
New Delhi, July 6, 2018
ED initiates extradition process against Nirav Modi under MLATWith the permission of special PMLA Court, the Enforcement Directorate (ED) has begun the extradition process against diamantaire Nirav Modi in $2-billion PNB loan fraud case under PMLA. Till now, the extradition has been sought from UK, Belgium and a few other countries. But that's not all. The agency is also working on another strategy, i.e. MLAT. Sources told Indiatoday.in that the agency is also making a request for extradition of Nirav Modi under Mutual Legal Assistance Treaty (MLAT). MLATs are agreements between two or more countries, which create obligations under international law for governments to assist one another in criminal investigations and prosecutions. Mukesh Ambani unveils JioGigaFiber at RIL AGM 2018The richest man in the country who runs India's largest private enterprise by revenue has announced his ambitious plan for taking India among Top 5 nations in fixed-line broadband.Ambani also launched the advanced version of Jio's flagship device, JioPhone. Besides, he also launched Jio Gigafibre. The new Jio Phone 2 will hit the markets by August 16 this year and will be available at a price of Rs. 2999. Mukesh Ambani has also announced the Jio Monsoon offer, he informed that old JioPhone users can exchange their phones in just Rs 501 under the special Reliance Jio Monsoon offer. The offer is valid till July 21. He also informed that Reliance Jio and Retail ventures were the top earners for the company in the previous fiscal year. Kishore Biyani's Future Lifestyle Fashions acquires stake in fashion etailer KoovsIn a regulatory filing yesterday, Biyani-led Future Lifestyle Fashions Ltd (FLFL) disclosed that it has reached a conditional agreement with leading e-commerce fashion business Koovs to acquire up to 29.9 per cent stake in it, subject to regulatory and procedural approvals. According to Mint, FLFL will shell out Rs 140 crore for this acquisition, which will be funded through internal accruals and the money it had raised though a stake sale to Singapore-based private equity firm L Catterton Asia in May. E-tailers exploring ways to improve reverse logistics costs: Study  E-tailers are increasingly looking for ways to improve their \"reverse logistics\" capabilities to offset the high costs associated with handling returned goods, a study by Zebra Technologies said today. Reverse logistics refers to the process of return of a product to the manufacturer or the company. The study said that while handling product returns is not a new challenge, it has become an \"infinitely bigger concern\" in an omni-channel marketplace.The report said merchants are increasingly exploring new models to offset the costs of returns.About 58 per cent of retail respondents said they add a surcharge for returns currently, while a segment of participants said they plan to do so in the future.About 35 per cent of the respondents of the study in the Asia-Pacific region were from IndiaIran to Trump: oil will cost $100 per barrel, and it is your faultOil will soon cost $100 per barrel due to supply disruptions caused by U.S. President Donald Trump, Iran's OPEC Governor told Reuters on Thursday, as he warned expectations that Saudi Arabia and Russia would help bring down prices were in vain.Trump again accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher on Wednesday, and urged U.S. allies such as Saudi Arabia to pump more if they wanted Washington to continue protecting them against their top foe Iran. Iran, OPEC's third-largest producer, is facing U.S. sanctions on its oil exports that are prompting some buyers to cut purchases.Indian Aviation Records Double Digit Passenger Growth For Nearly Fourth Straight YearIndia registered double-digit domestic air passenger growth for the forty fifth straight month in May even as volumes moderated in recent months. The International Air Transport Association said that the country's revenue passenger kilometre--a measure of passenger volumes--rose 16.6 percent in May. Seasonally-adjusted passenger volume in India has fallen back in recent months alongside some mixed signs on the economic front, it said. IATA said that this year growth is expected to slow slightly due to reduced stimulus from lower airfares and a mixed economic backdrop.


BusinessToday.In
New Delhi, July 5, 2018
The OPEC nations that comprised 15-member countries and Non-OPECnations, led by Russia, have been withholding oil production to boost the prices. The US plan to reintroduce oil exporting sanctions against Iran from November has also given rise to crude oil prices.


BusinessToday.in
New Delhi, July 5, 2018
Arun Jaitley calls for amendments in graft law, says it's anarchic and hurts decision makingUnion Minister Arun Jaitley on Tuesday called for amendments in the Prevention of Corruption Act -- a graft law that the Minister described as anarchic and one of the most badly drafted pieces of legislations. His statement came weeks after the Pune police on June 21 arrested the entire top management of the state-run Bank of Maharashtra for a loan of Rs 94.5 crore to the scam-tainted developer DSK Group allegedly in violation of its lending rules. Coming down heavily on the Pune Police for the arrest, the Minister said that nobody should overlook the federal structure of the nation. Jaitley further said that if the country wants an effective decision making process, it needs to put this entire relationship between investigation, who to investigate, when to investigate, what constitutes a crime, really in its place.NCLT verdict in Tata-Mistry case to be pronounced on July 9The Mumbai bench of NCLT (National Company Law Tribunal) on Wednesday deferred its judgement on ousted Tata Sons chairman Cyrus Mistry's petitions against the Tata Group. The NCLT order in the Tata-Mistry case will now be pronounced on July 9 at 10:30 am. Ahead of the verdict, Mistry had filed fresh salvo at Tata Sons management. The former chairman questioned the rationale behind some actions like the free sale of its telecom arm to Airtel, and massive debt-driven acquisitions by Tata Steel. Mistry has sought accountability and information from the board of Tata Sons in which his family owns 18.34 per cent.MSP hike draws mixed reaction from agri-experts, farm bodies  Agri experts and farm bodies today said the hike in the minimum support price (MSP) of 2018-19 kharif crops would lead to inflation, widen fiscal deficit and hit badly the export of commodities like cotton, while others felt the raise in support price was insufficient. In absolute numbers, the paddy MSP hike by Rs 200/quintal to Rs 1,750 for this year is a record but not in percentage terms, said agriculture expert Ashok Gulati . Gulati cautioned that the sharp rise in cotton and rice MSP will hit exports badly and lead to increase in government procurement. Merkel warns Trump against trade war  German Chancellor Angela Merkel today warned US President Donald Trump against unleashing an all-out trade war after he threatened to impose steep tariffs on cars from the European Union. Merkel said both sides were effectively locked in a \"trade conflict\" since Trump's decision to slap punitive tariffs on steel and aluminium imports. \"It is worthwhile to prevent this conflict from becoming a real war,\" she said. Trump charged that Europe is \"possibly as bad as China\" on trade, as he reiterated that he is mulling import taxes of 20 percent on EU cars. The EU has slapped tariffs on iconic US products including bourbon, jeans and Harley-Davidson motorcycles, as a symbolic tit-for-tat response to the metals duties.FM to meet heads of banks today to discuss NPA resolution structure  Finance Minister Piyush Goyal will meet heads of banks today to discuss an inter-lender structure suggested under the 'Project Sashakat' that intends to fastrack resolution of stressed assets in the banking system. The meeting is likely to formalise the inter-creditor agreement structure as suggested in the five-pronged 'Project Sashakat', sources said. The meeting has been organised by Indian Banks Association (IBA) and inter creditor agreement would be the framework under which the consortium would take up NPA cases.SBI Card launches AI powered virtual assistant ELA  SBI Card, the country's second largest credit card issuer, today announced the launch of 'ELA' (Electronic Live Assistant), a virtual assistant for customer support and services. Driven by Artificial Intelligence and Machine Learning, ELA is designed to enhance customer experience by providing relevant and instant responses to customer queries, SBI Card said. Customers can communicate with ELA in conversational language, enabling easy interface along with prompt query resolution, SBI Card managing director Hardayal Prasad said. The virtual assistant is currently hosted on the SBI Card website and will soon be integrated on the mobile app as well.


PTI
July 4, 2018
The Plaza Hotel, one of New York's most iconic buildings in which Subrata Roy-led Sahara India group has majority stake, has been fully acquired by a Qatar government-owned fund for about $600 million, according to a media report today.


BusinessToday.In
New Delhi, July 4, 2018
CBI seeks custodial interrogation of P Chidambaram in INX Media caseThe Central Bureau of Investigation (CBI) on Tuesday moved a plea in the High Court for permission to go ahead with the custodial interrogation of former finance minister P Chidambaram in the INX Media corruption case as he was not allegedly cooperating in the investigation. The investigating agency moved its application merely a few hours after Chidambaram's plea for extension of interim protection from arrest was granted by the Delhi High Court. The premier investigation agency made the submission in an affidavit filed before Justice A K Pathak, who listed the matter for hearing on August 1 and extended till then the interim protection against arrest granted to Chidambaram on May 31. Why should women do all the work?According to a recent report by the International Labour Organisation (ILO), in India women spend 297 minutes per day on the care responsibilities, 9.6 times more than men. While men spend only 30 minutes to provide care for elderly and children at home, one of the lowest in Asia-Pacific. Globally, the situation is not much different, where women perform 76.2 per cent of total of unpaid care work, three times as much as men. In Asia and the Pacific it rises to 80 per cent. In 2018, 49.5 per cent of women in Asia-Pacific declared that they cannot work or are not looking for a job due to unpaid care work. Govt warns WhatsApp over spread of messages triggering violence  The government today directed WhatsApp to immediately take steps to prevent the spread of \"irresponsible and explosive messages\", saying the social media platform cannot evade its responsibility, amid a spate of lynching cases purportedly triggered by posts circulated on such popular messaging apps. WhatsApp has also been asked to immediately contain the spread of such messages through application of technology, even as law and order machinery takes steps to apprehend the culprits. Noting that miscreants were repeatedly circulating provocative messages triggering a spate of violence, the government has said it has \"conveyed in no uncertain terms that WhatsApp must take immediate action to end this menace and ensure that their platform is not used for such malafide activities\". When contacted, a WhatsApp spokesperson told PTI, \"WhatsApp cares deeply about people's safety and their ability to freely communicate\". Google is letting third-party developers access your Gmail InboxThe Mountain View tech giant, Google, has been allowing third-party app developers to scan through inboxes of Gmail users, according to a recent Wall Street Journal report. In June last year, Google stopped scanning user's emails, which was being done to provide personalised ads. Despite curtailing the inapt practice, it has allowed hundreds of third-parties to continue doing the same. The report said, \"Google does little to police those developers, who train their computers - and, in some cases, employees - to read their users' emails.\"  Saudi says ready to pump more oil to balance market  Saudi Arabia, the world's top crude exporter, said today it was prepared to use its spare production capacity, estimated at two million barrels, to balance the global oil market. \"The kingdom is prepared to utilise its spare production capacity when necessary to deal with any future changes in the levels of supply and demand,\" a cabinet statement said following a meeting chaired by King Salman. The statement said the kingdom will coordinate with other producers.Saudi Arabia, which has been pumping around 10 million barrels per day, holds the largest spare capacity in the world and is the only country that can add substantial supply to the market. Harley-Davidson row: Trump says administration working to bring other motorcycle companies to US  President Donald Trump said today his administration is talking with other motorcycle companies about moving to the US after Harley Davidson decided to shift some operations overseas in the wake of retaliatory EU tariffs against American duties. Harley-Davidson said on June 25 that tariffs implemented by the EU would increase the average cost per motorcycle by about USD 2,200 and the company will shift some production overseas as a result. The European Union imposed the tariffs in retaliation against the Trump administration's duties on steel and aluminum imports, which were an effort by Trump to protect US jobs.


BusinessToday.in
New Delhi, July 3, 2018
Pantene, Unilever, Colgate will not last long against Patanjali, says Baba RamdevAfter upstaging giants like Unilever, Colgate, Pantene and Nestle, Baba Ramdev is openly mocking these companies as competition goes fierce in India's FMCG segment. Baba Ramdev who founded Patanjali Ayurved said that all these companies would wither away and it is just a matter of time. \"People pass away in 100 years... so these companies will also pass away in a couple of days... we have just made them do shirsasana... in a couple of days they will attain moksha also,\" the baba said. However, Baba Ramdev's Patanjali Ayurved that had recorded over 100% growth rate about a year ago saw a considerable dip in demand in the past year. A senior manager told Business Today in June this year, \"Their store filling frequency is pathetic. When the consumer asks for the product and it's not available she obviously moves to other brands.\"Flipkart deal in line with govt's FDI policy, says WalmartUS retail giant Walmart on Monday said its proposed $16 billion acquisition of Flipkart was in accordance with the government's FDI policy even as local shopkeepers and traders continued their protest against the deal. The Confederation of All India Traders (CAIT) organized mass sit-in protests across cities such as Delhi and Mumbai against the deal on Monday. The traders body fears Walmart's buyout of Bengaluru-based Flipkart will create a monopoly in the retail market and drive mom-and-pop stores out of business. CAIT has been urging the government to scrap the deal and constitute a regulatory authority to monitor the country's e-commerce market.Trump: WTO needs to change ways or US will do 'something'President Donald Trump is warning the World Trade Organisation that if the United States isn't treated \"properly, we will be doing something.\" Trump is again denying plans to withdraw the U.S. from the WTO but tells reporters in the Oval Office that the trade organization needs to change its ways. Trump has struck US allies with tough tariffs and is planning to impose tough trade penalties on China later this week. He says the WTO has treated the U.S. \"very badly and I hope they change their ways.\" He says he's not \"planning anything now\" but if the WTO doesn't treat the U.S. properly, \"we will be doing something.\" Trump did not elaborate. He spoke during a White House meeting with Dutch Prime Minister Mark Rutte Nikkei Manufacturing PMI rises to 53.1 in June, the fastest growth in 2018The latest Nikkei India Manufacturing Purchasing Managers Index (PMI) survey brings plenty to cheer about. The PMI rose to 53.1 in June from 51.2 in May, consistent with the fastest improvement in the health of India's manufacturing economy in the year so far. This is the 11th consecutive month that the manufacturing PMI remained above the 50-point mark. A score above 50 means expansion, while a reading below 50 points toward contraction. According to the survey, the sector's activity grew at the strongest pace since last December, supported by rise in domestic and export orders.Sanju surpasses Baahubali 2 to register highest single day collectionRanbir Kapoor-starrer Sanju has created history by recording the highest single day collection for a Hindi film. On the third day, according to trade analyst, Taran Adarsh, the Rajkumar Hirani-directed biopic cashed in Rs 46.71 crore. In doing so, it surpassed the Rs 46.50 record set by Baahubali 2 in April, 2017. The film was released across 4,000 screens in India, and 1,300 screens overseas. It grossed Rs 34.75 crore on Friday, Rs 38.60 crore on Saturday, and created history on Sunday. In total, the film has managed to mint Rs 120.60 crore in the first three days of its release, making it the highest weekend opening for a film in 2018.


BusinessToday.In
July 3, 2018
India imported 771,000 barrels of crude oil a day from Iran in May, a 35 per cent increase from the previous month.


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