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Top 10 business news today: Rs 1.5L cash for clunker, West Bengal tops in beggars, Tata Motors chief ‘pained’, Facebook row, OROP, more

Fri August 14 2015, 10:37 pm
  • nitin gadkari

    10. Nitin Gadkari: Union Transport Minister Nitin Gadkari announced that the central government will contribute Rs 1 lakh crore in next two years for road development in Karnataka.

  • Over 4 lakh beggars in India, most in West Bengal: Govt

    West Bengal has over 81,000 beggars, highest in the country, while Lakshadweep merely has two vagrants, the government today said. There are 4,13,670 beggars -- 2.2 lakh males and 1.91 lakh females -- in the country, Minister of State for Social Justice Vijay Sampla said in a written reply in Rajya Sabha today. West Bengal with 81,244 beggars topped the list followed by 65,835 in Uttar Pradesh, 30,218 in Andhra Pradesh, 29,723 in Bihar and 28,695 in Madhya Pradesh. Incidentally, in Assam, Manipur, and West Bengal female beggars outnumbered their male counterparts. (PTI)

  • cyrus mistry

    Tata Motors: Cyrus Mistry says 'pained' for not paying dividend

    With Tata Motors skipping a dividend payout for the first time in 15 years, Chairman Cyrus Mistry today said he is pained for not being able to give the "rightful dividend" to the investors, who questioned the reasons given by the company at its AGM here today. Mistry said, "My personal belief is that it's a bad day for the company. I feel extremely unfortunate this day. "Let me tell you it does not give me any pleasure to deny your rightful dividend. I know that many of you depend a lot on the dividend." "But I request you to look the finances of the company and also look for the long term. We have to make some sacrifices for the long-term good of our company. I am deeply pained by our decision to not pay the dividend for FY15," an emotional Mistry said. Tata Motors had last skipped a dividend payout in fiscal year 2000-01, when Ratan Tata was the chairman. This is also only the second instance in the company's history when it has not paid a dividend. (PTI)

  • Aran Khanna

    Facebook cancels student's internship who pointed out flaws

    An Indian-origin Harvard student's internship at Facebook was cancelled after he developed an app that pointed out the privacy flaws in the popular social media's messenger service, a media report has said. Aran Khanna was preparing to start the coveted internship at Facebook three months ago when he launched a browser application called Marauder's Map that used data from Facebook Messenger to map where users were when they sent messages, a report in said. The app "capitalised on a privacy flaw that Facebook had been aware of for about three years: the Facebook Messenger app automatically shared users' locations with anyone who they messaged," the report said. Khanna tweeted about the app on May 26 and soon it went viral. However, within three days, Facebook asked Khanna to disable the app and then withdrew its internship offer to him, the report said. The company also deactivated location sharing from desktops, which meant Khanna's app wouldn't work even if he hadn't taken it down. Before it was disabled, the extension was downloaded more than 85,000 times, Khanna said. (PTI)

  • One rank one pension

    Former service chiefs appeal to Prez on OROP

    Government is looking at a "middle path" in resolving the "ticklish issue" of 'One Rank One Pension' demand of ex-servicemen, officials sources said. 'OROP' scheme may put a huge burden on the exchequer because of the need to revise the pensions every year and so the government is in discussions with the ex-servicemen community towards finding a middle path, they said. Meanwhile, four former service chiefs have written an open letter to President Pranab Mukherjee requesting his intervention in the issue. Expressing concern over the delay in rolling out 'OROP' scheme, they said, "It is with a sense of deep anguish that we are writing to draw the attention of the Supreme Commander to the dismal spectacle of our veteran soldiers, driven to undertake public protests and demonstrations to press their demand for the - long overdue grant of OROP". (PTI)

  • 5/20 rule

    According to Government, there are 394 unserved and 16 under-served airports in the country. (PTI)


    Daily low cost flights Air Pegasus between Bengaluru-Mangaluru

    Low-cost carrier Air Pegasus would start daily flights connecting Mangaluru with Bengaluru from August 21. Mangaluru on the west coast was Karnataka's main port city and a leading industrial centre in the southern region, Air Pegasus managing director Shyson Thomas said in a release here today. The regional airline, Air Pegasus would become the fourth after Jet Airways, Spice Jet and Air India to operate flights to Mangaluru International Airport (MIA). Pegasus operates the 66-seat twin engine turboprop ATR-72 on all its routes. Air Pegasus flight OP102 would arrive from Bengaluru at 11.50 am and flight OP 116 would depart from MIA at 12.15 pm. Ticket bookings had already started and the airline was scheduled to operate on all days except on Tuesday. (PTI)

  • airasia

    AirAsia India set for management rejig; Chandilya to become MD

    AirAsia India is likely to entrust the additional responsibility of Managing Director to current CEO Mittu Chandilya in its first management revamp since commencing operations in June last year. The no-frills carrier, which has put on hold its fleet expansion plan amid stiff competition, is also likely to name a new Chief Financial Officer (CFO). The incumbent CFO Vijay Gopalan has put in papers sometime back and the airlines is in the process of finding a suitable replacement for him. "Our CFO, Vijay Gopalan has decided to resign for personal reasons.... We through our Board of Directors are already in the process of identifying a suitable replacement for this critical position," AirAsia India said in a statement. The carrier is embarking on a major management restructuring exercise in the days to come, sources said. Under the rejig, Chandilya -- who has been the CEO since the carrier's inception -- is expected to be elevated as Managing Director in addition to his current responsibility, they said. (PTI)

  • hdfc

    Chinese move to devalue yuan dangerous and unpredictable: Aditya Puri

    HDFC Bank's manging director Aditya Puri today said China's move to devalue its currency is "very dangerous and unpredictable" and feared that this may lead to a "competitive devaluation". "What China is doing is very dangerous and unpredictable ... devaluing the yuan twice in two days... unless something is done, will lead to competitive devaluation," Puri, who heads the country's second largest private sector lender, told reporters here. He said the move will affect exports from all the countries, including India, saying China is already a cheap manufacturer of goods and if it becomes more competitive with moves like the ones we are witnessing, the impact will be "phenomenal". The way ahead for the world is only competitive devaluation or levying duties on imports. (PTI)

  • marijuana

    A town of about 800 people 90 miles southeast of Denver, detected the chemical and health officials believe it is "marijuana THC-related,"

  1. A
    Aug 15, 2015 at 2:36 pm
    Perhaps no other state has been as affected by the departure of the British as Bengal. But yes, do they deserve any better?

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