Markets likely to be under pressure amidst geo-political tension

• Financial markets have been sideswiped since a sudden escalation in Sino-US trade tensions in early May
• Geopolitical tensions in the Middle East added another layer of uncertainty for investors

Top PE investors seek details about Yes Bank

• Warburg, Blackstone and Apax look to invest up to $750 million in Yes Bank
• While Apax Partners and Blackstone declined to comment, an email sent to Warburg Pincus remained unanswered until press time

With its large cheques, SoftBank creates a club of startup super-haves

• Typically, SoftBank leads the capital infusion and commands a large stake when it invests in a firm
• The fear probably stems from the fact that in 2017, SoftBank was actively mediating merger talks between its two investee firms and rivals—Flipkart and Snapdeal

Auto firms face bleak outlook, with no end to the gloom in sight

• FADA data also shows that inventory with dealers is rising
• Two-wheeler inventory has increased to 55-60 days in May from 45-50 days in April

GST Council meet on 21 June to focus on checking tax evasion

• The govt plans to raise scrutiny on businesses amid low GST collections
• Experts said the benefits of the tax reform would now start becoming visible

Monsoon proves to be a dampener, for now

• Drought-like conditions may worsen as overall rain deficiency in the first half of June widened to 43%
• Adequate rainfall in the monsoon season is critical for India’s agricultural output and the overall economy

India Inc continues to labour hard as Q4 earnings touch five-quarter low

• Nifty earnings touch ₹400.69 per share as rural stress, liquidity shortage and weak pick-up in capex cycle impact firms
• An across the board annual drop in margins largely due to input cost was disappointing

With eye on budget and key bills, Modi reaches out to opposition

• Opposition says it is not opposed to people-friendly bills but demands debate on jobs, agrarian distress
• The first Parliament session of the 17th Lok Sabha will begin on Monday and is set to end on 26 July

India thrash Pakistan, maintain perfect World Cup record

• India started of brightly having been put into bat with new opening combination of KL Rahul and Rohit Sharma adding more than a 100 run stand for the first wicket
• India now have seven points from their four matches at the World Cup

New Canada fast-track visa lures Indian techies away from US

• The principal fast-tracked job applicants were also accompanied by about 16,000 family members
• Canada added 321,065 immigrants last year, the largest annual increase since 1913

ONGC to auction over 60 fields to private operators

• Advisory services firm KPMG has received the mandate to run PEC process for ONGC
• The marginal and small fields will be auctioned under the PEC mechanism, to enhance production

Budget likely to make ₹30,000 crore provision for PSBs

• GDP growth has slipped to 5-year low of 6.8%, in addition, public sector banks will need capital for credit growth
• As far as their own resource mobilisation are concerned, sources said, they are unable to tap capital market because of their low share prices

Saudi Arabia hires i-banks for bond meetings in Europe

• Riyadh began issuing international bonds in 2016 after lower oil prices hit its finances
• The kingdom was considering issuing its first euro-denominated bonds this year, as it looks to diversify its funding base

Fan arrives on horse to watch India-Pakistan World Cup tie

• India take on Pakistan in a crucial World Cup encounter at Old Trafford, Manchester
• A Pakistan fan took an unconventional way to arrive at the venue to watch India-Pakistan match at the World Cup.

Corporation Bank plans to raise ₹5,000 crore in FY20

• The lender had posted a net loss of ₹6,332.98 crore in 2018-19
• Under Basel III norms, the bank is required to maintain total CRAR of 10.875%

Water-level in reservoirs dips to 18%, as monsoon rainfall deficit widens

• With the cyclone drifting away from the Gujarat coast, the slow pace of monsoon has raised concerns
• The situation is grim especially in the western regions covering Gujarat and Maharashtra

For public sector banks, the curse of capital shortage is continuing

• SBI has deferred its fundraising plan via QIP to a later date, citing no need for fresh capital
• Investors still cold to state-run bank shares, reflected in Nifty PSU Bank’s 7% fall in last two months

Boeing CEO concedes 'mistake' with planes in 2 fatal crashes

• Chief Executive Dennis Muilenburg told reporters in Paris on Sunday that Boeing's communication 'was not consistent and that's 'unacceptable.'
• The US Federal Aviation Administration has faulted Boeing for not telling regulators for more than year that a safety indicator in the Max cockpit didn't work

How private banks are taking over Indian banking

• While public sector banks continue to have the most deposits among the different kinds of banks operating in India, they have lost market share over the years
• In 2018-19, private banks gave a total of ₹7.3 trillion in loans, while public sector banks gave ₹2.3 trillion in loans

Noose tightens on Swiss account holders; Details of at least 50 Indians shared

• These individuals largely include businessmen associated with companies, including the dummy ones
• Switzerland has been striving hard for the past few years to shed a long-standing perception of it being a safe haven for black money

Father's Day: Are you financially ready to be a dad?

• Having inadequate emergency fund or insurance , or not investing for your child's future can spell disaster for your little one.
• Take a quiz to find out if you are ready to become a father, financially.

PNB puts on block 6 NPAs with outstanding of over ₹1,000 crore

• ARCs, NBFCs, other banks and financial institutions can submit binding bids till 26 June
• The reserve price for the six non-performing assets has been fixed at ₹342 crore

‘The NBFC crisis is an isolated company event and doesn’t pose systemic risks’

• Credit rating is one of the inputs in investment decision, but not the sole determinant, says Nimesh Shah
• According to Shah, the biggest outcome of the crisis is the focus on risk management and diversification

Father's Day: Dad, don’t throw a money googly

• Four tips to set you, as a father, on the right path when it comes to kids and finances
• You are not doing enough if you are saving but not investing wisely... if it’s too much of an ask, work with a planner

Digital payments to more than double to $135.2 bn by 2023

• India will see the fastest growth in digital payments’ transaction value between 2019 and 2023, with a CAGR of 20.2%
• The study also showed that India’s share of worldwide transaction value of digital payments is also set to increase from 1.56% to 2.02% in the next four years

‘What card will TMC play? It has taken the Bengalis for granted’

The TMC is destroying democracy and silencing all voices of dissent—whoever dares to protest is killed, says West Bengal BJP president Dilip Ghosh

Doctors’ strike reflects inadequacies in India’s health infrastructure

• Trust deficit between doctors and patients is gradually becoming a concern, say health experts
• The nationwide strike by doctors, which has been triggered by a brutal assault on a doctor in WB, indicates a widespread problem that requires urgent redressal

Pakistan’s role in curbing terror funding under lens as FATF meet begins

• To prevent a ‘black listing’ at the meeting, Pakistan needs the support of three of FATF’s 36 voting members
• India will press for downgrading Pakistan to the ‘black’ list at the 16-21 June meet in Orlando

Alteria Cap invests ₹80 crore in digital lender Lendingkart

• Investment comes at a time when NBFCs have struggled to raise and disburse funds
• Alteria Capital has made its single largest investment of ₹80 crore in digital lender Lendingkart

US-based First Solar in talks to sell 45MW of solar assets in India

• The sale of solar assets could fetch an enterprise valuation of around ₹300 crore
• First Solar is a leading global provider of photovoltaic (PV) solar systems and has supplied solar panels worth over 20 gigawatts

Opinion: How politics over crime is staining our social fabric

Politics has a way of creeping into almost every issue and tainting it to some extent

Entrepreneur pipeline has never been stronger: Blume Ventures’ Reddy

• Karthik Reddy, managing partner at early-stage investor Blume Ventures, talks about India’s fundraising environment, competition in seed-stage investing
• ‘We are beginning to realize that the only way to predictably drive exits is to build IPO-worthy companies’

In a cabinet rejig ahead of state polls, Fadnavis inducts 13 new ministers

• Among the 13 new ministers in the cabinet, eight have been given the cabinet rank and five are ministers of state
• Maharashtra legislature’s monsoon session begins from Monday and it would be the last legislative session before the assembly elections likely in October

Opinion | For the right cure

This situation is unlikely to change soon given the meagre spending on the sector

NIA gathers evidence of Pakistan’s involvement in Kashmir unrest

• So far, the NIA has chargesheeted 13, including head of Jammat-ud-Dawah, Hafiz Saeed
• In April, the NIA had arrested Yasin Malik, the leader of the Jammu Kashmir Liberation Front

Bangladesh, WI will want to keep semis hopes alive

• West Indies have blown hot and cold, while Bangladesh have been unlucky due to rain and a narrow loss to New Zealand in this World Cup
• Both teams will want to keep alive their hopes of qualifying for the semi-finals when they meet at Taunton on Monday

Hexaware Technologies’ digital drive needs careful execution

• With its strong digital capacities, Mobiquity will equip Hexaware to compete directly with large digital agencies
• Mobiquity’s annual revenue, up 23% in the last two years, is about 10% of Hexaware’s

Boeing seeking to cut scope, duration of some physical tests for new aircraft

• Boeing’s engineers will cut hours off airborne testing by using computer models to simulate flight conditions
• Current regulations allow planemakers to use physical testing and analysis to demonstrate compliance

Samsung's Lee looks beyond next 10 years with 6G, system chips

• Last week, Lee held discussions on potential collaboration to develop blockchain tech, 6G networks, AI
• Samsung’s statement didn’t specifically mention ongoing trade tensions between the US and China or bans on rival Huawei

Agrochemicals exporters widen their valuation gap vis-à-vis domestic plays

• FY19 ended on a weak note for most agrochem firms, with sales in India hit by sluggish demand, large inventories
• The varied performance is explained by the exposure to international markets

Goods and services tax, a game changer? Not for home decor firms at least

• Unorganized companies are estimated to have a share of 50-75%
• Lower taxes, along with greater compliance, was expected to accelerate the market share gains for organized businesses

Got a toxic colleague? Here’s how to handle it

Managing an overbearing boss, a nasty colleague or a team member who dodges tasks requires a high degree of professionalism and a lot of clear communication