DHFL’s resolution is critical since it will set a precedent for future insolvency cases in the lending sector
DHFL lenders vote in Piramal’s favour
2 min read . 12:04 AM ISTMajority back Piramal’s ₹38,250 crore offer for troubled NBFC
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A Lava mobile factory in Noida. Not long ago, Lava International was the poster boy of the government’s Make in India drive. Photo: Pradeep Gaur/Mint
Lava to invest ₹800 crore to boost smartphone biz
1 min read . 15 Jan 2021With the aim of capturing 5% of the smartphone market in 2021, Lava has launched five new models
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint
Embassy Reit raises nearly ₹2,600 cr via debentures
1 min read . 15 Jan 2021We will use the funds raised to refinance a portion of the in-place Embassy TechVillage debt, Mike Holland, CEO of Embassy Reit said
The company had posted a net profit of ₹591 crore in the for the corresponding quarter of 2019-20
L&T Finance Holdings Q3 net falls 51% to ₹291 crore
1 min read . 15 Jan 2021Total Income fell 3.04% yoy at ₹3622.16 crore for the quarter ended 31 December against ₹3735.79 crore for the same quarter last year
(Photo: Mint)
DHFL resolution: Lenders back Piramal's bid
1 min read . 15 Jan 2021- Piramal Enterprises' bid received 94% votes as compared to 45% for the US-based Oaktree Capital
- According to sources, suitors have submitted bids in the range of ₹35,000-37,000 cr
L&T Finance Holdings is an arm of engineering firm Larsen & Toubro
L&T Finance Q3 net profit slips 51% to ₹291 crore
1 min read . 15 Jan 2021- L&T Finance's total income during the quarter under review declined to ₹3,622.16 crore
- During the quarter, the company posted highest quarterly disbursements since Q1 FY20
File Photo: Standard Chartered Plc (REUTERS)
Standard Chartered preparing hundreds more job cuts
1 min read . 15 Jan 2021- The London-headquartered bank is expected to focused on job reductions of more junior employees, according to people familiar with the matter
- The latest job cuts come as Standard Chartered prepares for the eventual departure of Chief Executive Officer Bill Winters
(Photo: Mint)
SAIL OFS subscribed over 5 times; govt to garner ₹2,664 cr from stake sale
2 min read . 15 Jan 2021On the base offer size of 20.6 crore shares, both retail and non-retail investors offered 88.1 crore bids, which is over four times
Citi had earlier this week reshuffled the leadership in its US consumer bank and combined its wealth management units (REUTERS)
Citigroup profit beats, but shares dip on higher costs, weak revenue
1 min read . 15 Jan 2021- Shares in the bank, which have been trading at a 10-month high, fell 1.6% in premarket trading
- Citi's revenue fell 10%, mainly due to a decline in its global consumer banking business
Wells Fargo released $763 million of loan-loss reserves for the three months through Dec. 31 (REUTERS)
Wells Fargo’s $1.1 billion in charges slows cost cutting
3 min read . 15 Jan 2021- Non-interest expenses fell 5.2% to $14.8 billion, roughly half the decline analysts predicted
- The lender remains under a Federal Reserve-imposed asset cap limiting it from expanding its balance sheet beyond $1.95 trillion, its end-of-2017 level
SAP has spent years attempting to move away from legacy software that resides in clients’ computer servers (REUTERS)
SAP says Covid may continue to squeeze sales this year
2 min read . 15 Jan 2021- The corporate software maker said 2021 cloud and software revenue, excluding some items, will be as much as 23.8 billion euros in constant currency
- SAP said it expects limited growth and margin improvement over the next two years, and moved expectations to meet its 2023 strategy plan out to 2025
Photo: Reuters
JP Morgan profit jumps on trading, investment banking strength
1 min read . 15 Jan 2021- Net income rose to $12.1 billion, or $3.79 per share, in the quarter ended Dec. 31, from $8.5 billion, or $2.57 per share, a year earlier
- JPMorgan's profit was boosted by lower loss provisions, while revenue from capital markets and investment banking also propped up its numbers
FCA ICT India will be built from the ground up to meet FCA’s specific needs and growth agenda in the region (REUTERS)
Fiat Chrysler partners with Wipro for its first global digital hub in India
1 min read . 15 Jan 2021- Known as FCA ICT India, the global digital hub will be established in Hyderabad
- Wipro will source and build a talent pool of more than 1,000 skilled consultants and technologists for FCA ICT India
At the end of December 2020 quarter, HCL Technologies had 159,682 employees with net addition of 6,597 people
HCL Tech plans to add 5,000 freshers in March quarter
3 min read . 15 Jan 2021The company posted a 31% rise in its December quarter net profit at ₹3,982 crore on the back of strong momentum in its digital, products and platform segments
The UK government and Mittal's Bharti Global had invested $500 million each to acquire OneWeb under a bankruptcy resolution process. (File Photo: Mint)
SoftBank, Hughes make $400 mn bet on OneWeb
2 min read . 12:04 AM ISTOneWeb plans to start high-speed internet services in India by mid-2022
(Photo: Bloomberg)
Covid-19 impact: PVR reports net loss of ₹49 cr in Q3
2 min read . 15 Jan 2021- The multiplex chain reported net profit of ₹36 cr in Q3FY20
- PVR says it has 'reasonable' liquidity to meet all its debt and interest obligations for next few months
FILE - In this Sunday, Sept. 27, 2020, file photo, attendees wearing masks to protect from the coronavirus look at cars at the Tesla booth during the Auto China 2020 show in Beijing. Tesla Inc. is balking at recalling about 159,000 vehicles with potentially defective touch screens, so U.S. safety regulators are moving to force the company to take action, in news announced Wednesday, Jan. 13, 2021. (AP Photo/Ng Han Guan, File) (AP)
Tesla shares worth $1,250 in top scenario, Wedbush says
1 min read . 15 Jan 2021Tesla's stock could touch $1,250 in a bull-case scenario as consumer demand for greener cars surges in China, Wedbush analyst Dan Ives wrote in a Jan 14 note.
Individuals without smartphones would receive paper printed with QR codes containing the credentials, the companies said. (AFP)
Microsoft joins other IT companies for digital records of COVID-19 vaccination
1 min read . 15 Jan 2021The project, called Vaccination Credential Initiative, aims to help people get encrypted digital copies of their immunization records stored in a digital wallet of their choice
Xiaomi CEO Lei Jun (Photo: Mint)
Xiaomi top bosses' wealth down $5 billion after Trump move
1 min read . 15 Jan 2021Lei Jun, who co-founded the smartphone maker about a decade ago, lost about $3.6 billion as the stock tumbled as much as 13%
Airtel Xstream Fiber plans will now start at just ₹499 (MINT_PRINT)
Airtel Xstream Fiber launches the Gigabit Wi-Fi Experience
1 min read . 15 Jan 2021Airtel Xstream Fiber 3999 plan now comes 4x4 Wi-Fi router that delivers seamless 1 Gbps Wi-Fi coverage across homes and small offices
