Why rescue plans for Jet Airways never took off

• Founder Goyal repeatedly upped his asking price and refused to give up control, effectively scuppering any hope of a revival for Jet
• Around August last year, there were telltale signs of financial distress in the airline

Post-elections, Indian markets are waking up to ground realities

• Further downside cannot be eliminated keeping in mind worries related to Fed’s monetary policy meeting this week
• What’s more, even though Indian benchmark indices are getting a reality check, valuations are still uncomfortably high

More changes at Wipro after Premji’s adieu as two board members set to retire

• Premji, the billionaire philanthropist, wants to devote more time to charitable causes through his foundation
• A board reconstitution will be the least of worries for Rishad, who will work to put Wipro back on the growth path

IndiGo to buy jet engines worth $20 bn from CFM

• The airline, operated by InterGlobe Aviation Ltd, currently has a fleet of over 230 aircraft consisting of Airbus A320, Airbus A320neo and Airbus A321 planes
• The airline will add 53 narrow body aircraft, including 15 Airbus A321, during the current fiscal year

India’s budget math faces a tough challenge now

To keep up with the pressure of making headline fiscal deficit numbers look good, the government has increasingly resorted to off-budget financing for revenue as well as capital spending

You don’t need a driving licence to buy a motor insurance policy

• Though a driving licence is not mandatory for buying insurance, it is one of the most important documents required for filing a claim, especially if you’re doing it after an accident
• You wouldn’t need a driving licence even for registering your vehicle

DCC fine with Airtel, Voda  Idea  penalty, but seeks lower quantum

• Trai in October 2016 recommended imposing total penalty of ₹3,050 crore on Airtel, Vodafone Idea
• Penalty on Airtel and Vodafone works out to be about ₹1,050 crore each

How greed can land you into a Ponzi scheme trap

• The responsibility of avoiding fraudulent schemes is largely on investors themselves
• A 30-40% guaranteed return per annum itself is a red flag. Avoid schemes that offer unrealistic returns

Banks give up on Jet Airways revival, take it to NCLT

• After getting no acceptable offers from Etihad Airways and Hinduja Group, the SBI-led consortium decided to file for insolvency proceedings
• Pilots’ union too plans to take Jet to NCLT over non-payment of salaries

Sensex slide show continues ahead of budget presentation

• 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

Essel Infra to sell solar assets to Adani Group for up to ₹2,000 crore

• This would be the third sale for Essel Infraprojects, which aims to monetize assets to pay off creditors
• Of Essel Infra’s total solar energy portfolio of 685MW, 310MW is currently operational

Facebook to unveil new cryptocurrency

• Facebook is setting up a consortium called 'Libra' which has been joined by more than a dozen companies including Visa, Mastercard, PayPal and Uber
• Facebook is expected to outline details of the virtual currency launching next year

Five policy reforms to jump-start growth

How India can put in place policy reforms to raise GDP growth without creating macroeconomic instability

Overhang of probes to cast a shadow over Jet’s insolvency case

• Jet’s lenders decided to approach NCLT after efforts to recover dues and revive the airline outside IBC failed
• A consortium of lenders led by the State Bank of India (SBI) on Monday decided to approach the National Company Law Tribunal

Opinion | The growing risk of a global recession and crisis in 2020

Another recession would be harder to tackle than the one 10 years ago as both fiscal and monetary tools are relatively blunt

Jet lenders hit a recovery roadblock abroad

• The lenders were in talks to buy out a $30 million US Exim Bank loan for which six aircraft were given as collateral
• Jet Airways has not flown since 18 April due to funding woes

Egypt's ousted president Mohammed Morsi dies in court during trial

• It was a dramatic end for a figure who was central in the twists and turns taken by Egypt since its 'revolution'
• The 67-year-old Morsi had just addressed the court, speaking from the glass cage he is kept in during sessions

US moves bill to bring India on a par with Nato allies

• The move by Cornyn and Warner comes after India and the US signed the COMCASA last year
• The two countries are also in advance discussion to sign another foundational agreement of the BECA

Opposition participation more important than numbers: PM Modi

• Prime Minister says both Houses of Parliament must function smoothly to ensure the passage of key bills
• The first day of the monsoon session saw leaders such as Amit Shah and Rahul Gandhi take oath

Only BS-6 vehicles to be available from next year: Prakash Javadekar

• The minister said pollution is a problem not just in the national capital, but in other parts of the world too
• Vehicles that will be available from next year will support BS-6 fuel only

Piramal sells entire 10% stake in Shriram Transport for ₹2,300 crore

• Piramal cites broader strategy to leverage growth opportunities in its financial services business for exit
• Piramal also owns 20% in Shriram Capital and 10% in Shriram City Union Finance Ltd

FMCG firms may see pick-up in demand later this year: Report

• The likelihood of a better-than-expected monsoon in the second half is also expected to shore up demand
• Mumbai-based brokerage firm Edelweiss suggested that volumes at the consumer staples firms will see an uptick in the second half of FY20

IMD: Monsoon may gain pace in parts of south India in 4-5 days

• A low pressure area may form over north Bay of Bengal giving the necessary momentum to the rains
• The late onset of the monsoon has delayed the sowing of kharif crops in major parts of India

India likely to add 273 million people between 2019 and 2050: UN report

• The report added that migration has become a major component of population change in some countries
• The new report released here said that more than half of the projected increase in the global population up to 2050 will be concentrated in just nine countries

Former health minister J.P. Nadda appointed BJP working president

• Nadda could hold the post till January 2020, before the process to elect the new BJP chief can take place
• The meeting was attended by PM Modi, home minister Amit Shah and defence minister Rajnath Singh, who are all members of the BJP’s parliamentary board

Is it feasible for homebuyers to get stalled projects completed?

• The UP Rera deregistered 3 phases of a project in Noida. In effect, the developer, promoter lost their rights over the project, and the authority has taken over the construction of the project
• Ashwini Kumar Sharma asked experts if it’s possible for homebuyers to take up such a task.

What government is doing to improve GST compliance

• With India set to complete two years of the roll-out of the GST, its biggest tax reform since independence, authorities are now looking for ways to improve compliance and shore up tax receipts
• GST Council, the federal indirect tax body, will discuss some of these proposals at its meeting on Friday

Where design creates a sense of community and improves productivity

As co-working spaces thrive, it’s the small details that make a difference to those looking for a space to work, network

Investors needn’t fret over Brexit blow for Airtel Africa’s IPO pricing

• Airtel Africa IPO price is at a 15-32% discount compared to that of its pre-IPO placements
• The lower pricing has more to do with market conditions than company-specific concerns

Boris Johnson gets a boost in the race to become Britain’s new PM

• Johnson won the support of 114 of 313 Conservative Party lawmakers in the first round of the contest
• parliament has indicated it will try to stop a no-deal Brexit, which could roil markets

Yes Bank plans to raise $1.2 billion to boost capital, says CEO Ravneet Gill

• The lender plans to raise the money over 18 months
• Analysts have been downgrading Yes Bank’s stock on concerns over the extent of further deterioration in asset quality

Indian businesses ahead of global peers in preference for PE: Report

• PE and VC investors have invested billions of dollars in Indian companies over the last few years
• PwC interviewed 2,953 family businesses globally for the survey, including 106 from India

Referendum is needed on use of EVMs in elections, says Moily

• He also emphasized that such a referendum should be conducted on ballot papers and not on EVMs over which he claimed there was a trust deficit
• Moily alleged that the EC’s behaviour itself has become suspicious as it “did not do anything” to clear the doubts raised over the electoral process

Bounce raises $72 mn led by B Capital Group, Falcon Edge Capital

• Bounce intends to use the corpus raised to expand its presence nationally, especially in smart cities
• With this round, Bounce has raised more than $92 million in funding

Govt launches pilot project to increase forest cover in 5 states

• In the first phase, the pilot will be conducted in Haryana, MP, Maharashtra, Nagaland and Karnataka
• This project will eventually cover all such landscapes

Investors are not pleased with the diagnosis on IndusInd Bank’s books

• Investors are like doctors and a small cut on the balance sheet would prompt them to check for trouble elsewhere
• With their trust on asset quality blown by Yes Bank Ltd recently, investors are not willing to bestow faith on IndusInd Bank yet

Singapore’s GIC eyes up to $1 billion investment in Indian road assets

• The platform is said to be part of a wider strategy of GIC to increase its investments in India’s infra sector
• GIC, which was set up in 1981, manages over $100 billion in public and private investments across asset classes

TDP begins internal review after poll defeat, but no organizational changes yet

• Internal meetings for any major organizational changes may not be held immediately, TDP leaders said
• A major reason for TDP’s rout was anti-incumbency against the Naidu government

Should you buy NPS from Paytm Money app?

• Buying the retirement product from a PoP like Paytm Money may be more expensive, but experts say subscribers may prefer the convenience of apps
• If you open an NPS account through a CRA, you will avoid the extra fees that online and offline PoPs charge

Returns on my investments

• One must also keep in mind the volatility risk of the asset class, liquidity, lock-in rules and taxation
• Here's a look at how four commonly used asset types—equity, cash, gold and fixed income—have done in different periods

Opinion | Time for a global tax net for the internet

Even if an international consensus is hard to obtain on the taxation of digital services that make money off large user bases in countries like India, we should not give up on the idea

Investors hope KEC’s diversification plans are the answer to sluggish growth

• The declining contribution of the power T&D business has been a catalyst for KEC’s stock
• The company’s order book of ₹20,307 crore at the end of FY19 was 17% higher than the previous year

Opinion | The missing spirit of sacrifice among some doctors

To regain social respect, doctors in India should take inspiration from the life of Dr. Dwarkanath Kotnis

Circular economy likely to generate 1.4 crore jobs in 5-7 years: Amitabh Kant

• Kant says sustainable development and resource circularity is the need of the hour to implement circular economy
• He emphasises on the need of promoting non-government organisations to spread awareness and developing circular economy as a national agenda

Is your mutual fund holding too much cash?

• Usually, equity funds hold cash 1-5% of a fund’s corpus in cash, though some funds can hold as high as 7-10%.
• Here’s a list of funds with the highest cash levels

Summer crop sowing lags in India on slow monsoon progress

• Farmers have so far planted summer-sown crops on 8.22 million hectares
• Monsoon rains hit the southern state of Kerala nearly a week later than normal earlier this month

Opinion | Social media isn’t a reliable source to access info about insurance

Social media has cast its net wide and insurance is just about getting ensnared

Vistara adds 62 new flights, announces 48-hour 'Grand Vistara Monsoon sale'

• With the addition of 62 new flights, Vistara will now operate direct flights from Mumbai to 10 cities
• The airline's Boeing 737-800NG aircraft will operate in a two-class configuration of 12 business class and 156 economy seats