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May 25, 2019-Saturday
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business video

  • Apr 18, 2019 14:17
    Distressed airline Jet Airways (India) Ltd. finally halted its entire operations from Wednesday night after its want for emergency funds got rejected by its lenders. In a video discussion with Mint’s Associate Editor Shrija Agrawal, the experts discuss what went wrong at Jet Airways, also adding what is the way forward. According to Jitendra Bhargava, Aviation Expert and former Executive Director at Air India, there were enough alarm bells ringing and the promoter founder Naresh Goyal chose to ignore them. On the other hand, Manish Agarwal posited that airlines sector in India still remains one of the fastest growing sectors in India and that there will be efficient and inefficient players. (Hindustan Times)read more
  • Mar 29, 2019 17:25
    As focus intensifies on India’s start-up scene and even the government tries to give young entrepreneurs a fillip, the founder of multiple pioneering businesses, Harsh Mariwala, reveals his success mantra. In conversation with Livemint Senior Editor Aditi Prasad, the founder of Marico Innovation Foundation explains what he believes are the major hurdles in the path of Indian innovators and entrepreneurs today, and how he believes they can overcome them. With ‘hostile’ takeover bids grabbing headlines, Mariwala also reveals how he managed conflicting interests in his undertakings. Watch the full interview for more. (Hindustan Times)read more
  • Mar 20, 2019 20:08
    For the third time in the last three years, Google has been fined for violation of the European Union’s antitrust rules. The European Competition Commissioner said that Google indulged in ‘illegal practices in its search advertising brokering to cement its dominant market position’. Google has so far been fined a total of € 8.25 billion for antitrust rule violations. (Hindustan Times)read more
  • Feb 04, 2019 18:32
    Google employees doubt the leadership and vision of CEO Sundar Pichai. Googlegeist, the annual internal poll asked employees about Pichai’s vision. In response, 78 % indicated yes, down 10 percentage points from the previous year. It also asked if they have confidence in Pichai to lead Google in the future. Positive responses represented 74 % of the total, an 18 point decline from a year earlier. Responses were mostly positive but the declines are a worrying shift for Google. (Hindustan Times )read more
  • Dec 14, 2018 15:31
    In a video interview with livemint, Arianna Huffington, the founder and CEO of Thrive Global, talks about how one’s well-being is critical to entrepreneurship. “Elon Musk needs to relax and spend time with his 5 children,” says Arianna on the businessman’s comment about working long hours. Musk in an interview had said that you can only change the world if you work 80-hours a week. In the interview, Arianna Huffington also throws light on how entrepreneurs need to look at sustainable outcomes and not just short- term exits. The businesswoman known for bringing scale to blogging through her venture Huffington Post is keen on building Thrive Global as a multi-billion dollar more
  • Dec 08, 2018 23:30
    Huawei Chief Financial Officer (CFO), Meng Wanzhou, who was arrested in Canada has been accused of fraud with a maximum penalty of 30 years in prison. Meng, who is the daughter of Huawei founder Ren Zhengfei allegedly allowed the company’s subsidiary SkyCom to do business in Iran, thereby violating US sanctions against the country. The US government has long viewed the company and its close ties to the Chinese government as a threat to national security. Huawei reportedly also received several warnings over violating Iranian sanctions. Meng may be extradited to the US, subject to approval from the Canadian court. Meanwhile, Huawei claims that it is not aware of any wrongdoing by her. The Chinese Ministry of Foreign affairs has firmly requested Meng’s more
  • Aug 09, 2018 17:09
    Ikea’s boss promised Wednesday to meet the “needs, frustrations and dreams” of local consumers with the Swedish firm’s first Indian store, its second attempt to break into a vast but difficult market. Ikea, whose founder Ingvar Kamprad died in January, is present in 49 countries. But its previous attempt in 2006 at reaching India’s burgeoning middle class fell foul of local regulations. This time around, Ikea expects to attract seven million visitors per year to its 13-acre Hyderabad site, the first of 25 outlets it hopes to open across the country of 1.25 billion by 2025. But Brodin admitted having to give Ikea’s business model a local twist of Indian spice to try to attract a vast middle class not used to a company which expects them to assemble products themselves. (HT Correspondent)read more
  • Aug 07, 2018 11:40
    Indra Nooyi is stepping down as chief executive officer of food and beverage giant PepsiCo Inc., handing the reins to a top lieutenant in a transition that will draw attention to the dearth of prominent female CEOs in corporate America. Nooyi, 62, will leave the role in October and remain chairman until early 2019. Ramon Laguarta, 54, who has been a candidate to take over since a promotion last year to president, will be just the sixth CEO in the 53-year history of the company. Nooyi, who is from India, is the first foreign-born CEO of Pepsi and the first woman to lead the chips-and-soda behemoth, whose revenue topped $63 billion last year. Her departure thins the ranks of female CEOs running S&P 500 companies and comes at a time when Pepsi’s North American beverage unit is stagnating amid a general decline in soda consumption. In 24 years at Pepsi, including 12 as chief executive, she has helped the Frito-Lay unit grow in a challenging industry and added healthier drinks and snacks to a portfolio that includes Cheetos and Mountain Dew. (HT Correspondent)read more
  • Aug 01, 2018 16:38
    Union Minister of State for Home Kiren Rijiju reacted to West Bengal Chief Minister Mamata Banerjee’s statement on Assam’s National Register of Citizens (NRC) draft. The WB CM had said that a civil war will break out over the NRC draft issued on Monday. Responding to this, Rijiju said, “Such statements don’t suit a chief minister. She should think of the message she is spreading.” The NRC draft list, released on Monday, has incorporated 2.89 crore people out of 3.29 crore applicants, leaving out nearly 40 lakh people in the state. The list was released in line with the directions of the Supreme Court to identify permanent residents and illegal migrants from Bangladesh. On the other hand, BJP Member of Parliament Roopa Ganguly also criticised the West Bengal Chief Minister Mamata Banerjee over her ‘civil war’ remark. She asked if the West Bengal Chief Minister aware that there are a lot of illegal immigrants in West Bengal? “As it is what is happening in West Bengal today, is it any less than bloodbath or civil war? Doesn’t she know that every other day BJP karyakartas are being killed,” Ganguly said. (HT Correspondent)read more
  • Jul 26, 2018 12:56
    India’s benchmark Sensex Index hit the 37,000-mark for the first time on Thursday and the Nifty 50 Index also touched an all-time high driven by optimism that earnings growth will pick up further because of favourable government policies. Normal monsoon so far also boosted the sentiment. India’s south west monsoon has recovered in the past week. The cumulative deficit has, by 23 July, narrowed to 2% of the long-term average from -9% earlier in the month. (HT Correspondent)read more
  • May 16, 2018 17:29
    Now, you could fly to New York for as less as Rs 13,449! Iceland’s long-haul budget airline Wow Air announced its entry into India on Tuesday. The airline’s founder and CEO Skuli Mogensen said New Delhi was picked to be the first Asian city for Wow Air to begin operations. A one-way ticket to Iceland, US, Canada and London would start at Rs 13,499 including taxes. However, meals and baggage check-in facility will come at a minor extra fee. Business class fare to these destinations would be priced Rs 45,699 onwards. (HT Correspondent)read more
  • May 14, 2018 19:18
    The Central Bureau of Investigation filed its first charge sheet on Monday in the over $2 billion PNB fraud, perpetrated by jeweller Nirav Modi. The document lists the alleged role of Punjab National Bank’s former chief Usha Ananthasubramanian, who is now the CEO and MD of Allahabad Bank. Filed in a special Mumbai court, the chargesheet also names several other top officials of the bank. Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017 and was recently questioned by the CBI in connection with the case. The agency has named PNB’s executive directors KV Brahmaji Rao, Sanjeev Sharan and general manager (international operations) Nehal Ahad in the charge sheet. (HT Correspondent)read more
  • May 13, 2018 18:20
    Air India recorded a 20% revenue growth in March-April and is now focussing on increasing flying hours of each aircraft to add more trips. This comes as a boost to the airline which was put on the block by the government, as it was looking to divest its 76% share in the carrier. The airline is now focussing on improving operational efficiency in domestic and international sectors. Air India’s chairman Pradeep Singh Kharola said the airline benefitted from overall growth in the aviation market and the 20% revenue increase amounted to roughly Rs 3,000 crore. Kharola said that the new Tel Aviv route of the carrier is giving good returns and pinned high hopes of 70% revenue from the international routes. (HT Correspondent )read more
  • May 10, 2018 15:55
    Flipkart has lucked out! After Walmart’s buyout of the e-commerce platform for $16 billion on Wednesday nearly $500 million was set aside by the American retail corporation to buy back shares from existing and former employees making a lot of them crorepatis. The ESOP (employee stock option) payouts may see executives splurge on real estate, apartments and expensive goods like luxury cars. The ESOP buy back will be the biggest in the Indian start-up ecosystem and Flipkart’s second major buy back after last year’s $100 million share repurchase by Japan’s Softbank, which invested $2.5 billion in the e-commerce platform. Over the past six years, Flipkart has seen four other buybacks, according to employees though none have been of the scale of Walmart. (HT Correspondent)read more
  • May 09, 2018 21:19
    American retailer Walmart Inc. has agreed to pay $16 billion for a 77% stake in India’s largest start-up Flipkart, valuing the firm at about $21 billion. This is one of the largest acquisitions ever in the country. The buyout is the largest-ever in e-commerce, according to data compiled by Bloomberg. It will see the exit of Flipkart’s co-founder and chairman Sachin Bansal. The other co-founder Binny Bansal and other Flipkart shareholders will hold the remainder of the stake. This is Walmart’s biggest ever deal and gives it greater access to India’s e-commerce market . It also enables Walmart to tap into India’s retail market without building stores. The deal comes less than five years after Walmart exited India as a joint venture with Bharti Enterprises soured. (HT )read more
  • Apr 30, 2018 16:42
    The race for 5G technology is only getting hotter. Wireless carriers T-Mobile US Inc and Sprint announced a $26 billion all-stock deal. Their aim is to come at par with the top competitors Verizon Wireless and AT&T. The marketplace is still dominated by those two. And they stand well ahead of Sprint and T-Mobile in preparing for 5G technology. The technology is expected to have speeds necessary to power drones and self-driving cars. The $26 billion all-stock deal gives T-Mobile majority owner Deutsche Telekom 42 percent of the company and control of the board. The new firm will retain the T-Mobile name and be run by its current CEO John Legere. Japan’s SoftBank Group, which controls Sprint, would own 27 percent of the merged firm and have four board seats. (Muhammed Asad)read more
  • Apr 24, 2018 17:12
    Raghuram Rajan is a contender for the Governor of Bank of England when incumbent governor Mark Carney’s term ends in 2019 as Financial Times reported. This isn’t the first time the former RBI governor’s name has been mentioned as a candidate for a top central bank. In 2017, finance magazine Barron’s had said Rajan would be the ideal choice to chair the US Federal Reserve. In the past, Rajan was the chief economist at the International Monetary Fund and after his 3-year stint with RBI, he went back to academia. (HT )read more
  • Apr 09, 2018 16:19
    A Special CBI court on Sunday issued non-bailable warrants (NBW) against businessmen Nirav Modi and Mehul Choksi, in the Rs 12,363 crore Punjab National Bank fraud case. On 8 March, Choksi gave in writing to the CBI that he would not join the investigation “for four to six months”. Choksi’s lawyer was unaware of any NBW against his client while Modi’s lawyer criticised the court’s move as Modi had responded to “each and every email and notification and summon by the CBI”. (HT Correspondent)read more
  • Apr 09, 2018 16:19
    The Enforcement Directorate has discovered a Rs 5,000 crore trail funneled through various layers of shell companies by jeweller-businessman duo Nirav Modi and Mehul Choksi in the Punjab National Bank fraud case. The ED is likely to file charges against the two in the alleged Rs 12,363 crore scam within the month. The CBI has meanwhile widened its probe to other Indian banks whose overseas branches were involved in the issuing of buyer’s credit on the basis of letters of understanding (LoU’s) issued by Punjab National Bank. (HT Correspondent)read more
  • Apr 06, 2018 19:44
    RBI has asked payment system operators to keep payment systems operated by them within the country. Payment system operators are given six months to make the necessary transition. The RBI also asked entities which are already into such services to stop providing the same within three months. On the other hand, the central bank directed all regulated entities including banks not to provide services to businesses dealing in virtual currencies (VCs) like bitcoins. It was announced by RBI Deputy Governor BP Kanungo in a press conference where RBI directed all regular entities not to provide services to business dealing in virtual currencies. The steps have been taken to protect consumer interest and check money laundering. (Muhammed Asad)read more
  • Mar 23, 2018 16:50
    In a world first, India’s national carrier, Air India, flew to Israel via the Saudi airspace on March 22, 2018. This is first time Saudi Arabia opened its airspace to a commercial flight to Israel. Saudi Arabia does not recognize Israel and like much of the Arab world, the two countries do not have diplomatic relations. Observers see the Air India flight as marking a diplomatic shift for Riyadh that Israel says was fuelled by shared concern over Iranian influence in the region. Read the story here (HT )read more
  • Feb 20, 2018 17:15
    Donald Trump Junior, the eldest son of President Donald Trump arrived in India on February 20 to help sell luxury apartments and lavish attention on wealthy Indians who have already bought units in Trump-branded developments. The Trump Organization and its Indian partners have five projects in India, making it the brand’s largest market outside the United States. Read the full story here (HT Correspondent)read more
  • Feb 01, 2018 18:28
    Finance minister Arun Jaitley announced major changes in healthcare spending in a speech in Lok Sabha (HT Correspondent)read more
  • Feb 01, 2018 18:13
    Finance minister Arun Jaitley on infrastructure while addressing with his budget speech in Lok Sabha. (HT Correspondent)read more
  • Dec 01, 2017 17:12
    In conversation with Neeraj Kakkar of Paper Boat, Ashwini Asokan of Mad Street Den and Vijay Shekhar of Paytm Sharma at the 15th Hindustan Times Leadership Summit. (HT)read more
  • Aug 31, 2017 12:34
    While no one can predict Jaypee or Amarapali like situations, people can definitely avoid getting trapped in such situations by keeping these points in mind while buying property. (HT)read more
  • Jun 30, 2017 18:55
    The Goods and Services Tax (GST) will be rolled out on July 2017. This video shows the chronological timeline of the GST bill from the time it was proposed to the time the date of its implementation was finally decided. The GST was first proposed by the Atal Bihari Vajpayee government. The bill however could not be passed in the two successive UPA governments under Manmohan Singh. With BJP winning the 2014 elections, a GST council was formed under Arun Jaitley, post which a final push was given to the bill. (HT Correspondent)read more
  • Jun 26, 2017 15:14
    After the CEOs roundtable with Prime Minister Narendra Modi, the Chief Executive Officer (CEO) of Google, Sundar Pichai said that he is looking forward to GST rollout in India as it has been a very difficult thing to do. (ANI)read more
  • Apr 03, 2017 10:25
    The Cabinet on Monday approved four draft laws on Goods and Services Tax (GST) needed to implement the country’s biggest tax regime from July 2017. “The Bills will now be introduced in the Parliament any time this week,” a finance ministry official told Hindustan Times. The Cabinet, chaired by Prime Minister Narendra Modi, discussed threadbare the four draft legislation--Central GST (CGST), Integrated GST (IGST), Compensation Rule and Union territories GST (UT-GST) Bills--and approved them at a meeting. The CGST Bill makes provisions for levy and collection of tax on intra-state supply of goods or services for both by the Central Government. On the other hand, IGST Bill makes provisions for levy and collection of tax on inter-state supply of goods or services or both by the Central Government. The UTGST Bill makes provisions for levy on collection of tax on intra-UT supply of goods and services in the Union Territories without legislature. The Compensation Bill provides for compensation to the states for loss of revenue arising on account of implementation of the goods and services tax for a period of five years as per the Constitution (One Hundred and First Amendment) Act, 2016. “The government is committed to early introduction of GST, one of the biggest reforms, in the country as early as possible,” an official statement said. The GST Council has decided 1st July as the date of commencement of GST. The GST legislation will be taken up as money bills in Parliament this budget session, which restarted on March 9 after a month-long recess. The Rajya Sabha can’t reject money bills as it only has powers to make recommendations on such legislation, which the Lok Sabha can choose to accept or reject. The Narendra Modi government is racing against time to roll out GST from July, after successive governments have missed several deadlines. The GST Council headed by finance minister Arun Jaitley has cleared all the five draft laws--CGST, IGST), Compensation Rule, SGST and Union Territory UT-GST bills in successive meetings in the past one month. In the last meeting, the GST Council capped cess on demerit goods and luxury products at 15%. The Modi government has been able to bring all states on board, overcoming almost a decade of political differences on how to replace a multi-layered set of central and state taxes and levies with a unified nationwide GST. The ruling BJP’s victories in the latest assembly elections, especially in Uttar Pradesh, are expected to embolden the government to accelerate reforms and growth before the country heads for parliamentary polls in 2019. (HT Correspondent)read more
  • Mar 03, 2017 20:17
    In the Facebook Live session this morning, Rajesh Mahapatra and Suchetna Ray talk about the Q3 GDP growth estimate of 7% put out by Chief Statistical Office (CSO). The data has flummoxed economists and analysts, some of whom predicted the growth to be not more 6.4%. What is more surprising is the advanced estimate of 2016-17, which the CSO has put at 7.1%. This estimate is lower than last year’s estimate, but definitely higher than the prediction that analysts had made. CSO has based its estimate on increased consumption but what analysts find perplexing is how the output grew at such a rate despite the country facing one of its worst ever phases of cash crunch caused by the central government’s demonetisation move announced on November 8. And it is unclear whether the rise in internet transactions post November 8 have affected the GDP estimates. That data, according to Mahapatra and Ray, lacks credibility and should be scrutinised, with the possibility of revision of the estimates. (HT Correspondent)read more