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Top 10 business news today: Subrata Roy Sahara case, Facebook users are ‘products’, ‘Deadpool’ box office collections, Air India emergency, more

Wed March 30 2016, 3:23 pm
  • sahara group, subrata roy, facebook users, deadpool, subrata roy sahara, subrata roy net worth, deadpool movie, deadpool box office collection, top 10 news, latest news, top 10 business news, business news, air india

    1. Subrata Roy Sahara case: The Supreme Court took exception to submissions by senior lawyer Kapil Sibal questioning its power to send Sahara Group chief Subrata Roy to jail for not refunding money to investors and asked him to argue on facts and law. "You are in jail on the orders of this court. These orders may be right or wrong. We are not sitting in appeal on that order. The only way he (Roy) can come out is by complying with the orders of the court," a bench headed by Chief Justice T S Thakur told Sibal, who was appearing for Roy. The bench also said,"Lawyers come and go. We have never stopped you from making legal arguments but argue on facts. Don't lecture us. Don't give us speech. Nowhere in the world a person says that I have assets worth Rs 1,87,000 crore. I can pay any time but is not paying Rs 10,000 crore." (Image Source: Reuters)

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    2. Investors see another financial meltdown in 3 years, says survey; A majority of retail investors in India are fearing another financial crisis in the next three years and most of them lack confidence in their firm's ability to manage through the possible turmoil, says a survey. According to a report by the CFA Institute, around 59 per cent of retail investors surveyed in India believe that another financial crisis is likely to take place in the next three years. "Investors are anxious about the markets and hence expecting their investment managers to help them navigate through these volatile times," said Jayesh Gandhi, President of Indian Association of Investment Professionals (IAIP). (Image Source: Reuters)

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    3. Facebook users are 'working for free', says expert; An expert today termed Facebook users as "products" of the company who are working for free and helping the social media giant make money. "We all think that we are users of Facebook. You must remember that you are all products of Mark Zuckerberg (founder of Facebook). By providing your information, he is making use of you and he is selling that information and what you get is a free Facebook account and what he gets is dollars in his bank," Lt Gen (Retd) A V Subramanian said. Subramanian, an expert in electronics equipment who has headed the simulation development division of the Indian Army, was addressing Cyber Space Defence Summit 2016, organised by Computer Society of India (CSI), Hyderabad Chapter. (Image Source: Reuters)

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    4. 'Deadpool' box office collections: "Deadpool" has become the highest-grossing R-rated movie in the box office history after raking in more than USD 745 million. The movie surpassed "The Matrix Reloaded" (USD 742.1 million) in earnings, reported the Entertainment Weekly. The movie, about a vengeful and foul-mouthed superhero, earned USD 349.4 million in North America and is likely to surpass "American Sniper, whose collection stands at USD 350.1 million to take second place on the domestic list of highest-grossing R-rated movies. "The Passion of the Christ" still stands at the top with USD 370.8 million in the domestic list. The movie, which opened in theatres in February, made a stunning box office collection of USD 132.4 million over three days. (Image Source: AP)

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    5. Air India plane makes emergency landing after engine snag: An Air India Delhi-bound flight from Hong Kong with around 154 passengers onboard was diverted to Kolkata, where it landed under emergency conditions after the pilot detected a snag in the aircraft engine. The snag-hit Boeing 787-800 (Dreamliner) plane is now grounded at the Netaji Subhas Chandra Bose International Airport here, sources said. An Air India spokesperson in Delhi said that the aircraft made a precautionary landing at around 2015 hours, and all passengers have been deplaned safely. Air India is making arrangements to fly the stranded passengers to their destination in its Kolkata-Delhi flight, the spokesperson said. (Image Source: Reuters)

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    6. Joy for Amazon, Ebay, Flipkart and Snapdeal: The NDA government today allowed 100 per cent FDI through automatic route in the marketplace format of e-commerce retailing, a development that will give a boost to foreign firms like Amazon and Ebay as well as domestic players such as Flipkart and Snapdeal. As per the guidelines issued by the Department of Industrial Policy and Promotion (DIPP) on FDI in e-commerce, foreign direct investment (FDI) has not been permitted in inventory-based model of e-commerce. As per the norms, an e-commerce firm will not be permitted to sell more than 25 per cent of total sales from one vendor or its group companies. (Image Source: AP)

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    7. Jats, five other castes granted reservation in Haryana: A Bill to provide reservation to Jats and five other communities in government jobs and educational institutions was today unanimously passed by the Haryana Assembly, ahead of the April 3 deadline set by the community which launched a violent quota agitation last month. Meeting a key demand of the community, the Bill envisages reservation to Jats and five other castes--Jat Sikhs, Rors, Bishnois, Tyagis and Mulla Jat/Muslim Jat--by constituting a new classification Block 'C' in the Backward Classes category. The Bill proposes to give 10 per cent reservation to Jats and five other castes in government and government aided educational institutions and Class III and IV government jobs. It also envisaged 6 per cent reservation to Jats and five other castes in BC 'C' category in class I and II jobs. (Image Source: Reuters)

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    8. Uber launches UberMOTO in Gurgaon: After Bengaluru, taxi-hailing app Uber today launched a pilot of its bikesharing product – uberMOTO -- in Gurgaon. "Uber today announced a pilot of Uber's bikesharing product - uberMOTO in Gurgaon... This follows our agreement with the government of Haryana to introduce technology based ride-sharing services in the state," it said in a statement. The company has set minimum fare at Rs 15, followed by Rs 3 per km and Rs 1 per min of ride-time charges. The minimum fare is Rs 20. It will compete with companies like Baxi.

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    9. NR Narayana Murthy condoles death of Infosys employee in Brussels blast: IT czar and Infosys Founder N R Narayana Murthy today condoled the death of Raghavendran Ganeshan in the terror attack in Brussels, saying the Infoscion was a victim of senseless violence. "Today I learnt of the heart-breaking reality of Raghavendran's demise in Brussels. "Raghavendra - a young Indian, a father, a husband, a son, a brother, and an Infoscion was a victim of senseless violence," Murthy said in a statement. "Nobody anywhere in the world deserves to be cut down with such violence. I join many others in mourning his loss and pray for his child, wife, brother and parents during this extremely difficult time," he said. Raghavendran was employed with IT major Infosys and was a resident of Mumbai. (Image Source: PTI)

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    10. EPFO to invest more in govt bonds, FinMin hikes limit to 65pc: Retirement fund body EPFO can now invest up to 65 per cent of its investible deposits in government bonds, up from 50 per cent currently, a senior official said today. A proposal by the Labour Ministry in this regard has been approved by the Finance Ministry, which will pave the way for additional Rs 11,000 crore investment by EPFO in government bonds every year. "There was a limit of 50 per cent for investments in government securities. We exhausted that limit. Now, we are getting a lot of instruments (bonds), which were getting us very good returns. With this kind of bar, we were unable to invest (more) in G-Secs," Labour Secretary Shankar Aggarwal said after EPFO's trustees meet here today. (Image Source: Reuters)

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