Mukesh Ambani's Reliance Brands completes 100% acquisition of Hamleys
A day ahead of its June quarter earnings, Mukesh Ambani-led Reliance Industries said that it has completed the acquisition of British toy retailer Hamleys for about Rs 620 crore (GBP 67.96 million) in an all-cash deal. In May this year, Reliance Brands, a subsidiary of Reliance Industries, had signed an agreement to acquire 100 per cent stake in iconic toymaker Hamleys from Chinese fashion conglomerate C Banner International.
Govt seeks explanation from IndiGo on Rakesh Gangwal's complaint
The government has sought explanations from InterGlobe Aviation (IndiGo's parent firm), on allegations of corporate governance lapses raised by co-founder and promoter Rakesh Gangwal. In a filing to the stock exchanges, the company said it received a communication on Wednesday from the Ministry of Corporate Affairs (MCA) regarding the complaint.
Lok Sabha passes Finance Bill; cess on petrol, diesel stays
Finance Minister Nirmala Sitharaman on Thursday asserted her Budget proposals are aimed at improving ease of living and reducing pain of citizens, even as she did not accept the opposition demands of withdrawing cess on petrol-diesel and 2 per cent TDS on cash withdrawal. Lok Sabha later passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
Wipro offers Rs 1 lakh retention bonus to freshers, junior employees amid high attrition rate
Indian IT major Wipro has promised to pay a retention bonus of Rs 1 lakh to freshers hired from campus placements this year who complete one year with the company. The decision has been taken to counter the high attrition rates prevalent across the IT industry.
Jet Airways RP gets claims worth Rs 24,887 crore; rejects Rs 229 cr claim from Naresh Goyal's firm
The resolution professional of the bankrupt Jet Airways Thursday said he has received claims worth Rs 24,887 crore in 16,643 claims, including Rs 8,462 crore by financial creditors, against the company. Significantly, the RP rejected a claim of Rs 229 crore from JetAir, the privately held company of founder Naresh Goyal, which was the general sales agent of Jet Airways and the holding company.
June 2019 was the hottest June on record across the globe - NOAA
June 2019 was the hottest June in 140 years, setting a global record, according to the latest monthly global climate report released on Thursday by the U.S. National Oceanic and Atmospheric Administration. This marks the 414th consecutive month in which temperatures were above the 20th-century average. Nine of the 10 hottest Junes over the last 140 years have occurred since 2010, NOAA said.