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Job loss: Zomato lays off 541, says tech advances led to redundancies

Zomato on Saturday said it let go of 541 employees across customer, merchant and delivery partner support teams, saying “growing business and improvement in services cut down on the need to service

The 541 people form about 10% of Zomato’s employee strength across the support teams, the company said News

Lipstick Index shows full colour in India

The lipstick index — women splurging on the lower cost cosmetic instead of bags and shoes during a slowdown — might be discredited globally, having been replaced by the nail polish index in the cu

The domestic market size (in terms of sales) of lipstick reached Rs 34.80 billion in 2018 from Rs 27.02 billion in 2016, data from Euromonitor International showed News

Economic slowdown: Govt fast-tracks public spending, asks PSUs, ministries to pitch in

The government has devised a multi-pronged approach for providing a boost to the economy.

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Sterling Biotech: NCLAT sets conditions for promoters to take back control

Preconditions are ED-certified clean money and timely payment to creditors

Sterling Biotech case, Sterling Biotech case summary, Sterling Biotech court case, Sterling Biotech money laundering case News

FEMA violations: Jet Airways founder Naresh Goyal questioned by Enforcement Directorate

Last month, the ED raided offices of Jet Airways, Goyal and his associate Hasmukh Gardi. Raids were also conducted in Goyal’s residence.

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Suzlon scraps $1.2 billion debt repayments; stock slides

The Indian wind-turbine maker has been struggling since 2017 after the government shifted to auctions as the preferred method to install wind projects.

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Slowdown: Government to make one more announcement to support economy

Sitharaman said the government’s revenue targets were set after due consideration and if there was any shortfall in realising those, it would be dealt with as situation evolved.

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Donald Trump has a favourite number when he makes big claims

Trump on Wednesday predicted the Dow would be up — another 10,000 points — if he hadn’t embarked on a trade war with China. “If I wanted to do nothing with China, my stock market – our stock

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INX Media Case: P Chidambaram goes to Tihar, to spend 14 days behind bars

The provision for anticipatory bail, the bench said, should only be invoked in exceptional cases where the case alleged is frivolous or groundless.

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Mukesh Ambani’s Reliance Jio looks to shake up wired broadband market

Company launches offers with attractive tariffs & speeds; not enough to disrupt market, say analysts

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Carmakers demand GST cut before festive season

The industry has been for long seeking reduction in GST rates. Guenter Butschek, CEO and managing director at Tata Motors, said while the GST cut is extremely important to combat the slowdown, it’s

Auto industry, Auto industry news, Auto industry slowdown, Auto industry news 2019 News

Brexit: Boris Johnson’s brother quits on eve of poll campaign

An election before Brexit would allow Johnson, if he won, to repeal the blocking bill. The law will pass the upper house, the Lords, by Friday evening.

World News

Cashless India? Digital payment drive not a hit with traders

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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Slowdown pangs: Maruti Suzuki to shut operations at 2 plants for 2 days

This is the first time Maruti has officially announced shutdown of operations at its two plants apart from the regular annual maintenance shutdown twice a year — in December and June.

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No truce at IndiGo: Rakesh Gangwal shoots off fresh letter to Sebi

Gangwal’s main grouse regarding the board expansion to 10 was that if a position of an independent director falls vacant at any time, the size of the board will be in favour of IGE which can during

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Aditya Birla Real Estate Fund: AMC to provide investors an exit option

The real estate fund has returned a total amount of `601 crore, which is approximately 57% of the initial investment to its investors.

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IL&FS case: Bombay HC orders interim stay in proceedings against BSR

The petition also sought a stay on the ongoing proceedings against BSR in relation to the IL&FS case.

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NHAI must make monetisation a structured programme: Vijay Chibber, former secretary, ministry of highways

Borrowing is not an independent activity of the NHAI. It is a part of the government’s borrowing activity, says former secretary at the ministry of highways Vijay Chibber

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Jaypee Infratech insolvency: Supreme Court asks NBCC for fresh plan

Govt willing to provide tax relief if state-owned firm takes over projects

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Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC

On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had s

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BSNL, MTNL likely to get 4G spectrum worth Rs 20,000 crore

Solicitor general Tushar Mehta is understood to have given a go-ahead to a DoT proposal to allocate 4G spectrum to the ailing state-run telecom firms

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Bumpy ride: Maruti Suzuki cuts output by 34% as sales fall

In a stock exchange notice on Monday, Maruti said it produced a total of 111,370 units last month

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INX Media case: No jail of P Chidambaram for now after SC gives partial relief

Justice Banumathi again said these were questions for the competent court to consider. Not willing to give up, Sibal said there was a recent order of the apex court setting aside a remand order.

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Bad news on economy front: Manufacturing dips to 15-month low

Some survey members also reported cash flow problems and a lack of availability of finance, IHS Markit noted.

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Jio Fiber likely to hit BSNL hard, Bharti Airtel not much

Currently, only BSNL is a pan-India player for wired broadband with presence in all the cities and towns of the country, barring Delhi and Mumbai where MTNL is present.

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Cut GST before festival season: Carmakers to government

Siam said even commercial vehicle and two-wheeler sales are significantly negative, indicating that the market has still not responded to the various steps initiated by the finance minister Nirmala Si

Auto industry, Auto industry news, Auto industry slowdown, Auto industry news 2019 News
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