Monthly Archives: April 2016
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NEWS 
April 1, 2016 Berkshire reports record full-year profit of $24.08 billion
Warren Buffett, who is backing Democratic candidate Hillary Clinton, raised a political issue dear to Democrats in his widely-read letter by calling climate change a ‘major problem for the planet’. Photo: Bloomberg Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defence of an aggressive private equity partner […]
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NEWS 
April 1, 2016 LIC’s profit seen slumping as choppy markets take a toll
Photo: Rituparna Banerjee/Mint Mumbai: Life Insurance Corp. of India (LIC) is expected to post a year-on-year decline of 40% in profit-booking on equity investments in 2015-16, as choppy markets take their toll on the country’s largest investor. LIC is expected to book a profit of Rs.15,000 crore on equities in the year to 31 March, […]
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ALL DEALS 
April 1, 2016 Sectoral outlook: aviation
Photo: Abhijit Bhatlekar/Mint Airlines in India are likely to face headwinds in profitability in 2016-17 in the face of rising risks from increasing capacity, pricing pressure and possible cost increases, according to a consultancy firm Capa India. Though the aviation firms will be largely profitable, the pressure on yields is expected to be over 5% […]
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NEWS 
April 1, 2016 Essar Steel says ‘worst times’ over, March a turnaround quarter
A file photo of Essar Steel’s Hazira facility. Hazira (Gujarat): Contrary to market perceptions over its financial and operational performance, Essar Steel India feels its “worst times” are over and is on its way to post a turnaround in the March quarter. Optimistic of its financial situation, the Mumbai-based company said it has already paid […]
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NEWS 
April 1, 2016 Mitsui sees first loss since 1947 amid $2 billion writedown
Impairment charges on mining and energy projects from South America to Australia levied a heavy toll on the books of the Tokyo-based trading house. Photo: Reuters Tokyo: Mitsui & Co., Japan’s second biggest trading house, forecast its first net loss since it was founded in its modern form in 1947 due to impairment charges on […]
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NEWS 
April 1, 2016 Accenture raises revenue forecast after strong second quarter
A file photo of the Accenture stand at the Mobile World Congress in Barcelona. Accenture has been investing heavily to boost its digital business. Photo: Reuters Bengaluru: Accenture Plc raised its full-year net revenue forecast well above analysts’ expectations and reported better-than-expected quarterly revenue and profit, led by strong growth in its consulting business, especially […]
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NEWS 
April 1, 2016 The $2.6 billion buying binge that felled SunEdison
SunEdison is the only US-based developer inching toward bankruptcy protection. Photo: New York: Just nine months ago, SunEdison Inc. was Wall Street’s favourite clean-energy company. It sopped up every dollar it could come by to finance a breathtaking buying binge of wind and solar farms, and in the process became the world’s largest renewable-energy company. […]
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ALL DEALS 
April 1, 2016 Serious academic research and high teaching quality is our winning proposition: Ilian Mihov
Ilian Mihov. New Delhi: In January, when the Financial Times released its annual Global MBA Rankings, a business school with a one-year MBA programme made it to the top of the list. INSEAD, with campuses in Fontainebleau (near Paris), Singapore and Abu Dhabi topped the 2016 rankings, dislodging the previous year’s leader Harvard Business School. […]
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ALL DEALS 
April 1, 2016 Delivery start-ups explore additional income streams
Hyperlocal delivery start-ups, including food-tech and logistics companies, together garnered $270 million in funding in 2015, but the sector has also seen a massive correction in the form of closure. Photo: Ramesh Pathania/Mint With investors turning increasingly cautious, hyperlocal delivery start-ups are exploring additional revenue streams such as advertisements and promotions to try and mitigate […]
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ALL DEALS 
April 1, 2016 Start-up deals of the day
True Balance is a mobile app that keeps users updated about their prepaid mobile account. Photo: Softbank Ventures Korea invests in True Balance New Delhi: SoftBank Ventures Korea, the venture capital arm of Japan’s SoftBank, has invested an undisclosed amount in True Balance, a mobile app that keeps users updated about their prepaid mobile account, […]
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NEWS 
April 1, 2016 How CarDekho is planning to redefine car ownership business
Anurag Jain, chief operating officer of CarDekho, says he expects the automobile portal to become a unicorn by 2017. New Delhi: Brothers Amit and Anurag Jain, founders of the automobile portal CarDekho.com, went from stall to stall at the Delhi Auto Expo in 2008, patiently collecting all the brochures they could lay their hands on. […]
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NEWS 
April 1, 2016 New rules, 100% FDI in e-commerce give short shrift to consumers
Photo: iStockphoto New Delhi: The government on Tuesday allowed 100% foreign direct investment (FDI) in marketplace e-commerce companies. While this may bring regulatory clarity to the existing and future online retail sellers in the country, it may hamper consumer interest on several accounts. First, the government has now prohibited any discounts to consumers by e-commerce […]
