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Airlines borrow $31 billion to weather pandemic blow to travel

Lenders worldwide have pledged more than $31 billion of loans to major airlines scrabbling to line up funding as the coronavirus pandemic forces them to ground their fleets.
In the dash to secure financing, airlines have either been drawing down from on existing credit lines or taking on new loans.(Unsplash)
In the dash to secure financing, airlines have either been drawing down from on existing credit lines or taking on new loans.(Unsplash)
Updated on Apr 28, 2020 04:17 PM IST
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Hindustan Times | ByBloomberg

Joe Biden wins four early states in solid super Tuesday start

Television networks declared Biden the winner in the three southern states shortly after polls closed, an indication that his victories there were decisive and could net him a large portion of the total available delegates.
US Democratic presidential candidate and former Vice President Joe Biden(REUTERS)
US Democratic presidential candidate and former Vice President Joe Biden(REUTERS)
Updated on Mar 04, 2020 07:47 AM IST
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Bloomberg | ByJoe Sobczyk and Justin Sink

Facebook to publicly track political sponsored content after Bloomberg’s paid memes

The move comes after US Democratic presidential candidate Michael Bloomberg’s campaign started paying popular meme accounts on Facebook-owned Instagram to post content as part of its social media offensive ahead of the 2020 election.
Facebook Inc will provide a way for people to track political sponsored content on Facebook and Instagram ahead of the US presidential election.(REUTERS)
Facebook Inc will provide a way for people to track political sponsored content on Facebook and Instagram ahead of the US presidential election.(REUTERS)
Updated on Feb 28, 2020 06:53 AM IST
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San Francisco | ByReuters

‘Trump cheats at golf’: Mike Bloomberg mocks US Prez with billboard message

The giant digital billboard is just two miles (three kilometers) down the Strip from Trump’s own hotel, where the president is staying while in Las Vegas.
People walk past a billboard paid for by Democratic presidential hopeful Mike Bloomberg, that is attacking President Trump and is displayed on the iconic Las Vegas Strip, in Nevada, on February 21, 2020.(AFP)
People walk past a billboard paid for by Democratic presidential hopeful Mike Bloomberg, that is attacking President Trump and is displayed on the iconic Las Vegas Strip, in Nevada, on February 21, 2020.(AFP)
Updated on Feb 22, 2020 08:50 AM IST
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Las Vegas | ByAgence France-Presse

Coffee Day Enterprises seeks lender approval to sell Global Village Tech Park

In September 2019, Coffee Day Enterprises had announced the deal as a part of its move to reduce debts nearing 5,000 crore.
Coffee Day Enterprises has been trying to reduce debts since the death of its promoter V G Siddhartha in July, 2019.(Mint file)
Coffee Day Enterprises has been trying to reduce debts since the death of its promoter V G Siddhartha in July, 2019.(Mint file)
Updated on Dec 12, 2019 02:54 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Bloomberg enters 2020 presidential race with a record ad blitz

Bloomberg joins a large field of candidates that started with more than 20. It shrank somewhat as candidates dropped out, failing to keep up with the rest in raising money or in polls. But the numbers rose in recent days with former Massachusetts governor Deval Patrick and, now, Bloomberg pumping in.
Bloomberg has planned a week-long ad blitz worth $33 million to start making up for the lost time, starting Monday.(Twitter)
Bloomberg has planned a week-long ad blitz worth $33 million to start making up for the lost time, starting Monday.(Twitter)
Updated on Nov 26, 2019 06:07 AM IST
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Hindustan Times, Washington | By

Retail inflation in October rises to 4.62%, breaches RBI’s medium term target of 4%

India’s factory output shrank for the second straight month at 4.3% in September, recording its worst show since the present series was launched in April 2012.
Updated on Nov 13, 2019 05:53 PM IST
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Hindustan Times, New Delhi | ByAsit Ranjan Mishra

As Victoria’s Secret weighs what’s next, Rihanna’s SavagexFenty lingerie collection may be onto something

Sure, there were plenty of stiletto-clad models to promote her Savage X Fenty lingerie brand—some of whom have participated in past Victoria’s Secret events as well. But unlike those shows, Rihanna’s featured women of all shapes and sizes.
Rihanna’s show featured women of all shapes and sizes.(Instagram/ Rihanna)
Rihanna’s show featured women of all shapes and sizes.(Instagram/ Rihanna)
Updated on Sep 15, 2019 03:02 PM IST
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Bloomberg | ByJordyn Holman, Rebecca Greenfield

In a bid to achieve inclusivity, male management at Victoria’s Secret trying to rebrand as ‘led by her, for her’

Victoria’s Secret has been trying to reconnect with customers who’ve increasingly turned to rivals that embrace female empowerment and diverse body types.
Victoria’s Secret has been trying to reconnect with customers who’ve increasingly turned to rivals that embrace female empowerment and diverse body types.(Instagram/ Victoria’s Secret)
Victoria’s Secret has been trying to reconnect with customers who’ve increasingly turned to rivals that embrace female empowerment and diverse body types.(Instagram/ Victoria’s Secret)
Updated on Sep 11, 2019 02:11 PM IST
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Bloomberg | ByJordyn Holman, Jonathan Roeder, Anne Riley Moffat

Hong Kong unrest is worrying India’s jewellers

Shipments to Hong Kong, which comprised almost a third of India’s gems and jewelry exports, fell about 17% to $11.1 billion in the last fiscal year as the protracted trade war between the U.S. and China sapped demand.
A news conference of Hong Kong's Chief Executive Carrie Lam is televised in Hong Kong, China. The protests in Hong Kong began almost three months ago over proposal to allow extraditions to mainland China.(Reuters)
A news conference of Hong Kong's Chief Executive Carrie Lam is televised in Hong Kong, China. The protests in Hong Kong began almost three months ago over proposal to allow extraditions to mainland China.(Reuters)
Published on Sep 04, 2019 05:40 PM IST
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Bloomberg | BySwansy Afonso

India’s growth slowdown set to deepen as consumers buckle

Data due Friday is expected to show gross domestic product growth slowed for a fifth straight quarter to 5.7% in the three months ended June. That’s slower than the 5.8% expansion in the previous quarter.
While the slowdown last quarter reflects, for the most part, a slump in investment before the election, high-frequency indicators since then suggest the economy’s lack of momentum has persisted.(Bloomberg image)
While the slowdown last quarter reflects, for the most part, a slump in investment before the election, high-frequency indicators since then suggest the economy’s lack of momentum has persisted.(Bloomberg image)
Updated on Jun 23, 2020 08:38 PM IST
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Bloomberg | ByVrishti Beniwal

VG Siddhartha founded Starbucks’s Indian rival with 1,500 outlets

V. G. Siddhartha asked his driver to stop his car, before going for a walk near the Southern Indian city of Mangaluru, local police official Jayant Kumar said by phone. The driver informed police when Siddhartha didn’t return after an hour.
26 September 2015, New Delhi: VG Siddhartha chairman of Coffee Day Enterprises that runs Cafe Coffee Day outlets.(Mint photo)
26 September 2015, New Delhi: VG Siddhartha chairman of Coffee Day Enterprises that runs Cafe Coffee Day outlets.(Mint photo)
Updated on Jul 30, 2019 10:46 AM IST
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ByBloomberg

Reconsider sovereign external borrowing

Any such decision will not be seen as a sign of political weakness, but a rational decision to heed to wise counsel within the country. It is in our best interests to continue avoiding riskier forms of engagement with the global economy
Finance minister, Nirmala Sitharaman, announced during the budget earlier this month that the government will consider sovereign external borrowing for raising capital.The biggest risk is that such borrowings have an in-built unpredictability because of foreign exchange movements(REUTERS)
Finance minister, Nirmala Sitharaman, announced during the budget earlier this month that the government will consider sovereign external borrowing for raising capital.The biggest risk is that such borrowings have an in-built unpredictability because of foreign exchange movements(REUTERS)
Updated on Jul 25, 2019 08:09 PM IST
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Hindustan Times | By

Raghuram Rajan reveals why he didn’t apply for top job at Bank of England

In an interview with the BBC, Rajan confirmed he hadn’t sought the position and cited the fact that central banking “has become much more political in recent times” as an explanation for why not.
Hammond, who is likely to exit the Treasury once a new prime minister takes office next week, had spoken of looking for a new governor with international experience.(HT Photo)
Hammond, who is likely to exit the Treasury once a new prime minister takes office next week, had spoken of looking for a new governor with international experience.(HT Photo)
Updated on Jul 20, 2019 10:25 PM IST
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Bloomberg | BySimon Kennedy

India is looking to create its own Davos for bigger global role

The move will help create a niche for Asia’s third-biggest economy within the international financial system, Finance Minister Nirmala Sitharaman announced in her budget speech on Friday.
Prime Minister Narendra Modi, who made his Davos debut last year, has used this tack before as the chief minister of the Indian state of Gujarat before becoming the nation’s prime minister in 2014.(HT Photo)
Prime Minister Narendra Modi, who made his Davos debut last year, has used this tack before as the chief minister of the Indian state of Gujarat before becoming the nation’s prime minister in 2014.(HT Photo)
Updated on Jul 05, 2019 06:41 PM IST
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Bloomberg | ByBloomberg

RBI deputy governor Viral Acharya quits 6 months before his term ends: Report

He took office at the RBI in January 2017 for a three-year term. His departure follows Urjit Patel’s sudden resignation in December last year amid rising tension between the central bank and the government about the RBI’s independence.
Viral Acharya, deputy governor of the Reserve Bank of India, resigned six months before his term ends, Business Standard reported, citing him.(Mint File Photo)
Viral Acharya, deputy governor of the Reserve Bank of India, resigned six months before his term ends, Business Standard reported, citing him.(Mint File Photo)
Updated on Jun 24, 2019 09:04 AM IST
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Bloomberg | BySubhadip Sircar

Bitcoin climbs to $10,000 as memories of the crypto bubble fade

The largest cryptocurrency rose by about 5% to around $10,500, according to prices compiled by Bitstamp available on the Bloomberg terminal.
Bitcoin reached an all-time high of $19,511 in December 2017, capping a 1,400% surge that year, only to be followed by a 74% collapse in 2018.(REUTERS FILE)
Bitcoin reached an all-time high of $19,511 in December 2017, capping a 1,400% surge that year, only to be followed by a 74% collapse in 2018.(REUTERS FILE)
Updated on Jun 22, 2019 12:40 PM IST
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Bloomberg | ByEric Lam and Vildana Hajric

Haunted houses no longer taboo for desperate Hong Kong homebuyers

Over half the respondents in a REA Group Ltd. survey published Thursday said they would consider purchasing a haunted apartment. Around 65% said price would be the motivating factor.
Even though Hong Kong is one of the most westernized cities in Asia, buying a haunted home is unthinkable to most local residents.(AFP File Photo/ Representative Image)
Even though Hong Kong is one of the most westernized cities in Asia, buying a haunted home is unthinkable to most local residents.(AFP File Photo/ Representative Image)
Updated on Jun 20, 2019 11:06 AM IST
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Bloomberg | ByShawna Kwan

India-born tycoon was wrongly ensnared in Canada’s dirty money probe

A six-month investigation commissioned by the province of British Columbia had scoured more than a million land titles for signs of illicit funds swirling through Canada’s most expensive housing market.
There’s little evidence to show the mansion was bought with criminal proceeds - it was purchased by an Indian entrepreneur long before he faced the accusations of fraud.(Bloomberg Photo)
There’s little evidence to show the mansion was bought with criminal proceeds - it was purchased by an Indian entrepreneur long before he faced the accusations of fraud.(Bloomberg Photo)
Updated on Jun 11, 2019 11:54 AM IST
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Bloomberg | ByNatalie Obiko Pearson

RBI likely to slash interest rates in third straight cut

The six-member monetary policy committee led by Governor Shaktikanta Das will reduce the repurchase rate by 25 basis points to 5.75% on Thursday, say 31 of 43 economists surveyed by Bloomberg, while three are penciling in a 50 basis points cut.
The policy decision will be announced at 11:45 a.m. in Mumbai, followed by a press conference 15 minutes later by Das.(REUTERS FILE)
The policy decision will be announced at 11:45 a.m. in Mumbai, followed by a press conference 15 minutes later by Das.(REUTERS FILE)
Updated on Jun 06, 2019 09:41 AM IST
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ByAnirban Nag

Cristiano Ronaldo rape lawsuit in US ‘not dropped’: lawyer

A Bloomberg report that the case had been dropped stemmed from the filing of a notice of voluntary dismissal last month in Nevada state court in Las Vegas.
Portugal's Cristiano Ronaldo celebrates scoring their first goal.(REUTERS)
Portugal's Cristiano Ronaldo celebrates scoring their first goal.(REUTERS)
Updated on Jun 06, 2019 01:06 AM IST
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Los Angeles | ByAgence France-Presse

Cristiano Ronaldo rape lawsuit dropped: Report

The filing did not say whether the accuser, American woman Kathryn Mayorga, had reached a settlement with Ronaldo.
File image of Cristiano Ronaldo(AFP)
File image of Cristiano Ronaldo(AFP)
Updated on Jun 05, 2019 05:56 PM IST
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Washington | ByAFP

A $13 billion manager bets on unloved India consumer stocks

Dip in share prices is a buying opportunity for a Mahesh Patil who sees the slowdown in demand as temporary.
Data shows the nation’s gross domestic product rose at the slowest pace in several quarters only ratified the market’s assessment of consumer businesses.(AP File Photo (representatives image))
Data shows the nation’s gross domestic product rose at the slowest pace in several quarters only ratified the market’s assessment of consumer businesses.(AP File Photo (representatives image))
Updated on Jun 04, 2019 10:56 AM IST
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Bloomberg | ByNupur Acharya , John Xavier

China has a $3.65 trillion war chest to counter US tariffs

If tariffs begin to really hurt China’s growth this year, there’s plenty of direct fiscal firepower left to stoke the economy, before the People’s Bank of China would have to cut interest rates
Central and local authorities in China have at least 25.1 trillion yuan ($3.65 trillion) unspent in their budgets this year, according to data compiled by Bloomberg using official budget plans.(Bloomberg)
Central and local authorities in China have at least 25.1 trillion yuan ($3.65 trillion) unspent in their budgets this year, according to data compiled by Bloomberg using official budget plans.(Bloomberg)
Updated on May 16, 2019 10:53 AM IST
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Bloomberg | ByYinan Zhao, Ling Zeng and Heng Xie

From pork to pampers: Where inflation is showing signs of life

While overall price growth remains largely subdued, the emergence of costlier items will encourage those who say it’s only a matter of time before inflation accelerates due to robust economic growth and tight labor markets.
While overall price growth remains largely subdued, the emergence of costlier items will encourage those who say it’s only a matter of time before inflation accelerates due to robust economic growth and tight labor markets.(Ruhani Kaur/Bloomberg)
While overall price growth remains largely subdued, the emergence of costlier items will encourage those who say it’s only a matter of time before inflation accelerates due to robust economic growth and tight labor markets.(Ruhani Kaur/Bloomberg)
Updated on May 12, 2019 06:50 PM IST
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Bloomberg | ByBloomberg

Hackers steal 7,000 Bitcoin worth USD 40 million from Binance Exchange

The company will use its Secure Asset Fund for Users, an emergency insurance fund, to cover the incident in full and no user funds will be affected, it said.
The transaction was limited to Binance’s BTC hot wallet, which contains about 2 percent of the company’s Bitcoin holdings, according to the post. Other wallets are secure and unharmed, the exchange said.(REUTERS PHOTO)
The transaction was limited to Binance’s BTC hot wallet, which contains about 2 percent of the company’s Bitcoin holdings, according to the post. Other wallets are secure and unharmed, the exchange said.(REUTERS PHOTO)
Updated on May 08, 2019 09:32 AM IST
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Bloomberg, Hong Kong | ByBloomberg

Anil Ambani needs $2 billion in asset sales to save his last stronghold

Asset disposals are key to averting a crisis at Reliance Capital, said Mathew Antony, a managing partner at Mumbai-based Aditya Consulting, a credit advisory firm.
Asset disposals are key to averting a crisis at Reliance Capital, said Mathew Antony, a managing partner at Mumbai-based Aditya Consulting, a credit advisory firm.(HT Photo)
Asset disposals are key to averting a crisis at Reliance Capital, said Mathew Antony, a managing partner at Mumbai-based Aditya Consulting, a credit advisory firm.(HT Photo)
Updated on May 03, 2019 03:23 PM IST
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Bloomberg | ByP R Sanjai

Mukesh Ambani’s bet on India’s rising middle class is paying off

Mukesh Ambani launched the telecommunications business in 2016, spending $36 billion to roll out a 4G wireless network across India and luring millions of subscribers with free or cut-price data services.
Mukesh Ambani, at HT Leadership Summit 2017. Photo Pradeep Gaur/Mint
Mukesh Ambani, at HT Leadership Summit 2017. Photo Pradeep Gaur/Mint
Updated on Apr 19, 2019 02:47 PM IST
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ByP R Sanjai, Bloomberg

RBI rate cut: A stimulus for the economy

Whether or how effective it will be in achieving this objective is a question which cannot be answered right now. It also remains to be seen whether the central bank will continue to cut interest rates in the future.
The Reserve Bank of India (RBI) announced its first policy of FY 20 on Thursday(REUTERS)
The Reserve Bank of India (RBI) announced its first policy of FY 20 on Thursday(REUTERS)
Updated on Apr 05, 2019 09:29 AM IST
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Hindustan Times | By

Malvinder Singh accuses brother Shivinder, spiritual guru of fraud

Former Indian billionaire Malvinder Singh has filed a criminal complaint accusing his younger brother of siphoning funds from their family holding company and fraudulently diverting them to a renowned spiritual guru, the latest twist in the unraveling of a $2 billion empire.
The public fight between the former billionaire brothers follows the collapse of one of India’s most storied business families that once controlled the nation’s top drugmaker and second-largest hospital chain.(HT Photo)
The public fight between the former billionaire brothers follows the collapse of one of India’s most storied business families that once controlled the nation’s top drugmaker and second-largest hospital chain.(HT Photo)
Updated on Feb 18, 2019 05:10 PM IST
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By Ari Altstedter | ByBloomberg
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