ALL DEALS March 25, 2016 Deutsche Bank declines as Moody’s signals downgrade risks
By: sristy SahaA file photo of the headquarters of Germany’s Deutsche Bank in Frankfurt. Photo: Reuters New York: Deutsche Bank AG extended declines after Moody’s Investors Service signalled it may cut the German lender’s credit rating amid concern that it will struggle to restructure businesses. “Since changing leadership last June and recalibrating its strategic plan last November, […]
ALL DEALS March 25, 2016 Narendra Modi risks middle-class backlash in bid to spur lending
By: sristy SahaA backlash already prompted Narendra Modi to backtrack on a budget proposal to tax the provident funds of 37 million employees, a sign of his reluctance to stick with difficult political decisions ahead of a slew of state elections. Photo: Reuters New Delhi: Prime Minister Narendra Modi risks a political backlash among the middle class […]
NEWS March 25, 2016 Standard Chartered said to curb $2 billion diamond exposure
By: sristy SahaThough diamonds account for less than 1% of Standard Chartered’s $261 billion of loans, gemstones haven’t escaped the scrutiny of CEO Bill Winters. Photo: AP London: Standard Chartered Plc is demanding more loan protection from clients in the Indian and Belgian diamond trade as the bank seeks to tighten standards, according to people with knowledge […]
ALL DEALS March 25, 2016 Credit Suisse to axe 2,000 more jobs as revenue slumps
By: sristy SahaA file photo of the Credit Suisse office in Milan. This year investment banking revenues have been hit by record low interest rates. Photo: Reuters Zurich: A slump in investment banking revenues prompted Credit Suisse on Wednesday to accelerate its restructuring plan and cut a further 800 million Swiss francs ($821 million) of costs. The […]
ALL DEALS March 25, 2016 RBI eases liquidity coverage ratio norms
By: sristy SahaPhoto: Pradeep Gaur/Mint Mumbai: The Reserve Bank of India (RBI) gave bankers more flexibility in maintenance of liquidity coverage ratio (LCR) under Basel III by tweaking certain norms and allowing some corporate bonds to be included in the calculations. In a circular on Wednesday, RBI said banks can include corporate bonds and commercial papers for […]
NEWS March 25, 2016 Ex-Flipkart duo to launch healthcare start-up, Uber-Ola battle goes to court
By: sristy SahaPhoto: iStock What to watch out for Mukesh Bansal, Ankit Nagori to launch healthcare start-up The duo who left Flipkart earlier this month are teaming up and pooling $5 million to launch a start-up in the area of healthcare and sports and fitness. Uber-Ola battle goes from the streets to court Uber has alleged that […]
ALL DEALS March 25, 2016 Start-ups: Deals of the day
By: sristy SahaPhoto: iStockphoto Drivojoy raises Rs4 crore from IAN, others On-demand two-wheeler repair platform Drivojoy on Wednesday said it has raised Rs.4 crore from the Indian Angel Network (IAN). Others who participated in the round include TracxnLabs, an early-stage fund run by Tracxn, a company which tracks start-ups; Shailesh Rao, vice-president, international operation, of Twitter Inc.; […]
ALL DEALS March 25, 2016 Structured higher education can spur entrepreneurial ambitions: NYU study
By: sristy SahaPhoto: Indranil Bhoumik/Mint Bengaluru: Structured higher education, provided the environment is conducive, can spur entrepreneurial ambitions, according to research by New York University’s Steinhardt School of Culture, Education, and Human Development. The study will be published in the May volume of the The Journal of Higher Education. While the education system is criticized for not […]
NEWS March 25, 2016 Robotics start-up Endless Robotics raises $100,000 in seed funding
By: sristy SahaEndless Robotics provides a service that uses robotics to make paint spray technology effective and bring greater efficiency to construction and real estate projects. Endless Robotics Pvt. Ltd, a start-up that makes products for automating painting in the construction and real estate industries, on Wednesday said it raised $100,000 in pre-series funding from angel investors […]
ALL DEALS March 25, 2016 Uber-Ola battle goes from the streets to court
By: sristy SahaPhoto: Mint Bengaluru/New Delhi: The fight for market share between taxi aggregators Uber and Ola travelled from the streets to the courts on Tuesday when the former sought almost Rs. 50 crore in damages for losses it claimed to have suffered because of fraudulent practices adopted by its local rival. Ola denied the charges in […]
NEWS March 23, 2016 For Google, India to be bigger market than US by next year: Pichai
By: sristy SahaSundar Pichai, global chief executive at Goggle, the giant search engine, believes India will become a bigger marketfor the company than the US sometime in the middle of 2016. In an interaction with half a dozen journalists here on Wednesday, he said it was not only with regard to the use of Android-based phones that […]
NEWS March 23, 2016 Project Loon: How Google plans to use balloons to connect India
By: sristy Sahaobal search giant Google’s Project Loon to provideinternet across geographies comes across as an intriguing idea, especially as it is to be done using floating balloons. The idea caused more curiosity in India when GoogleChief Executive Sundar Pichai said in a press meet on Wednesday that his company was bringing balloon-powered internet to India. […]
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