Companies

The earnings reported so far are in line with expectations. Photo: Reuters
The earnings reported so far are in line with expectations. Photo: Reuters

Rising crude prices crimp profit growth in Q3, early trends show

  • Net profit at 90 listed firms in Dec quarter grew 7.38%, slower than 10.1% growth in preceding 3 months
  • This sample excludes banks, financial services firms and oil and gas companies

RIL operates the world’s biggest single-location refinery at Jamnagar in Gujarat.
RIL operates the world’s biggest single-location refinery at Jamnagar in Gujarat.

RIL refining margin may stay depressed as demand wanes

  • The refinery processed 18 mt of crude during the quarter, higher than 17.7 mt in the Sep quarter
  • RIL operates the world’s biggest single-location refinery at Jamnagar in Gujarat

Renault board members and Ghosn’s legal team are reviewing issues including his non-competition agreement and pension benefits, people familiar with the matter said.
Renault board members and Ghosn’s legal team are reviewing issues including his non-competition agreement and pension benefits, people familiar with the matter said.

Carlos Ghosn's time at Renault runs out

  • Renault is negotiating with Carlos Ghosn over the terms of his departure
  • Renault board is expected to appoint Michelin chief Jean-Dominique Senard as chairman

Cognizant remains an outlier, as the Nasdaq-listed firm saw its RPE rise by 16% since December 2016 (Reuters)
Cognizant remains an outlier, as the Nasdaq-listed firm saw its RPE rise by 16% since December 2016 (Reuters)

No increase in IT firms' productivity despite digital revenue growth 

  • Since each firm defines ‘digital’ differently, analysts are in a quandary when they try to compare firms
  • Analysts cite three main reasons behind this divergence in RPE and digital share of business

The Google logo is pictured at the entrance to the Google offices in London.
The Google logo is pictured at the entrance to the Google offices in London.

Google sets 2018 lobbying record as Washington tech backlash expands

  • Google, which spent $4.9 million in the last three months of the year
  • Google usually leads the tech sector in lobbying outlays and often is among the top-spending companies overall in Washington

Founded in April 2017 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal plans to roll out other investment products including stocks.
Founded in April 2017 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal plans to roll out other investment products including stocks.

Investment app Groww raises $6.2mn in Series A funding led by Sequoia India

  • Groww had raised $1.2 million in Pre-Series A led by Insignia Venture Partners, America’s Lightbridge Partners and Kairos fund
  • Groww aims to make investment simple and seamless and also offers direct mutual fund investment plans on it's platform

Davos delegates echoed that view about a decade after visitors to the Swiss alpine retreat failed to predict the 2009 recession. (Photo: AP)
Davos delegates echoed that view about a decade after visitors to the Swiss alpine retreat failed to predict the 2009 recession. (Photo: AP)

Davos doesn’t think there’s going to be a global recession

  • We’re slowing, but we’re still growing: Philipp Hildebrand, vice chairman of BlackRock Inc
  • Financial markets have wobbled in recent months, with the S&P 500 Index dropping 1.4% on Tuesday

Attendees are seen during the World Economic Forum annual meeting in Davos, Switzerland (Reuters)
Attendees are seen during the World Economic Forum annual meeting in Davos, Switzerland (Reuters)

Global businesses join hands for workplace inclusion of LGBTI community

  • The WEF said the initiative is supported by the Office of the United Nations High Commissioner for Human Rights
  • By 2020, the project will enlist 50-100 companies from WEF members and beyond to join the Partnership for Global LGBTI Equality to implement UN LGBTI Standards

 (Mint)
(Mint)

Bidders cold to SBI’s Essar Steel loan sale

  • The sale of loans comes with a precondition that caps the profit a winning bidder can make from resolution to 18%
  • Essar Steel has received a binding bid of around 42,000 crore from ArcelorMittal

Sun Pharma’s stock surged 4.95% to  ₹418.05 on BSE after the announcement.  (Reuters)
Sun Pharma’s stock surged 4.95% to 418.05 on BSE after the announcement. (Reuters)

Sebi probing Sun Pharma over whistleblower charges

  • Sun Pharma ends business arrangement with promoter-owned Aditya Medisales
  • Sun Pharma had come under a cloud over allegations of related-party transactions with Aditya Medisales

Huawei chief financial officer Meng Wanzhou. (Reuters)
Huawei chief financial officer Meng Wanzhou. (Reuters)

US will seek extradition of Huawei CFO from Canada

  • The US has accused Huawei CFO of misrepresenting the company's links to a firm that tried to sell equipment to Iran despite US sanctions
  • Huawei faces US-led allegations that its devices present a national security risk

Carlos Ghosn. (Photo: Mint)
Carlos Ghosn. (Photo: Mint)

Carlos Ghosn denied bail yet again with trial still months away

  • The latest rejection by a Tokyo court is a win for the prosecutors, who can now keep Ghosn detained
  • Ghosn has been in custody since 19 Nov, accused of financial crimes that could put him behind bars for decades

The impact of technology must reach rural India, says Paula Mariwala

  • Many rural areas that have been electrified do not have access to uninterrupted, consistent, good quality power for more than a couple of hours
  •  The impact of technology must reach rural India

The campaign ‘The Best Men Can Be’ (wordplay on its tagline) takes a bold stand on bullying, cat-calling, and sexual harassment.
The campaign ‘The Best Men Can Be’ (wordplay on its tagline) takes a bold stand on bullying, cat-calling, and sexual harassment.

The Tolerance test: why India isn't ready for Gillette’s #MeToo-inspired ad camp

  • The campaign ‘The Best Men Can Be’ (wordplay on its tagline) takes a bold stand on bullying, cat-calling, and sexual harassment
  • In India one is never sure how audience will react, says Rohit Raj, co-founder, The Glitch  

A file photo of the IL&FS office in Mumbai. Insolvency proceedings for any single firm cannot be extended to all its group companies under the proposed legal framework.
A file photo of the IL&FS office in Mumbai. Insolvency proceedings for any single firm cannot be extended to all its group companies under the proposed legal framework.

Dealing with cross-border insolvency of a single corporate entity

  • The main issue is forming a group for the insolvency proceedings as each firm has to be managed in its own interest
  • The flexibility for preferring insolvency proceedings as a group can help overcome hurdles faced during cross-border scenario

Google announced that it will introduce an India-specific political advertising transparency report.  (Photo: Reuters)
Google announced that it will introduce an India-specific political advertising transparency report. (Photo: Reuters)

Google says it will provide details of political ads

  • Google to disclose names of those purchasing election ads on its platforms and how much money is being spent
  • Google has also updated election ads policy for India which will require advertisers that are running election ads

Reliance Retail is India’s largest retail chain, both by revenue and the total number of stores (Reuters)
Reliance Retail is India’s largest retail chain, both by revenue and the total number of stores (Reuters)

Reliance leaps to 94th spot on Deloitte’s top retailers’ list 

  • Deloitte ranked 250 firms for its annual report based on their retail revenues for fiscal year 2017
  • In case of Indian companies, Deloitte factored revenue for year ended March 2018

The fresh milk startup is said to have raised up to $10 mn.
The fresh milk startup is said to have raised up to $10 mn.

Country Delight raises funding in round led by Matrix Partners

  • Matrix Partners has previously invested in milk and grocery delivery startup DailyNinja
  • The company offers other milk-based products including paneer, curd and ghee through its mobile app

Pallonji Mistry. indiapictures
Pallonji Mistry. indiapictures

Shapoorji Pallonji Group’s asset sales in focus after rating downgrades

  • The family has already infused at least 650 crore into the firm and divested assets including the Chennai IT park
  • Ratings on the debt instruments of at least five Shapoorji Pallonji Group firms were cut in the past two months

The three-year old start-up is also in talks to raise funds from Snapdeal co-founder Kunal Bahl and Oyo’s Ritesh Agarwal (iStockPhoto)
The three-year old start-up is also in talks to raise funds from Snapdeal co-founder Kunal Bahl and Oyo’s Ritesh Agarwal (iStockPhoto)

GoMechanic raises up to 35 crore in funding round led by Sequoia Capital

  • GoMechanic will use the fresh capital to expand to new cities
  • The company plans to bulk up hiring at leadership positions

The total number of VC deals fell to a six-year low of 15,299 in 2018. (Mint)
The total number of VC deals fell to a six-year low of 15,299 in 2018. (Mint)

VC deals surged to a record $254 billion last  year: Report

  • Investment wave comes despite a decline in number of deals for third straight year
  • The total number of VC deals fell to a six-year low of 15,299 in 2018, compared with 17,314 in 2017 and a peak of 20,172 in 2015

The engine glitches continue even after the A320neo planes have completed one million hours of service with the engines (Reuters)
The engine glitches continue even after the A320neo planes have completed one million hours of service with the engines (Reuters)

No respite yet for IndiGo, GoAir from P&W glitches

  • Aviation experts remain cautious about the safety challenges posed by the problems
  • P&W, which is doing a root cause analysis, is yet to identify number of planes affected by main gearbox issue