BENGALURU: As American denim giant Levi Strauss & Co chases its target of expanding into a $10 billion business globally from the current $6.2 billion, president and CEO Michelle Gass tells TOI that she has set her sights on India, among the top six markets for the inventor of the blue jeans, to drive the…
WASHINGTON: Satya Nadella has taken Microsoft to dizzying heights and Sundar Pichai hasn’t done too badly with Alphabet/Google either. From FedEx CEO (Raj Subramanium) to the CEO of grocery chain Albertsons (Vivek Sankaran), Indian-American success in c-suites beyond tech companies is the stuff of lore. But in a rare setback to the story, Starbucks announced…
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, plunged in trade on Tuesday. While BSE Sensex was just above 79,000, Nifty50 was above 24,150. At 3:02 PM, BSE Sensex was trading at 79,032.89, down 616 points or 0.77%. Nifty50 was at 24,160.60, down 186 points or 0.77%.The top BSE Sensex gainers at…
The Central Board of Direct Taxes (CBDT) has initiated a thorough examination and verification process for outward foreign remittances exceeding Rs 6 lakh to identify any discrepancies in the data and potential tax evasion. This action was taken after the discovery of cases where foreign remittances and expenditures were inconsistent with the income declared by…
Fixed deposit (FD) investors have benefited from rising interest rates over the past 1-2 years, with rates reaching their peak and remaining there for a considerable time. However, this favorable situation is not expected to continue indefinitely. Although the Reserve Bank of India (RBI) has maintained the repo rate, it is anticipated that this may…
On Aug 10, US-based short-seller Hindenburg Research released a report that said Sebi chairman Madhabi Puri Buch and her husband Dhaval had investments in offshore investment funds which were used by Vinod Adani, brother of billionaire Gautam Adani, to invest in Adani Group’s stocks. Here’s an explainer on offshore funds, their structure and tax implications:What’s…
MUMBAI: Sundram Fasteners‘s chairman Suresh Krishna’s eldest daughter, Preethi Krishna, is planning to sell a part of her stake in the holding company of the auto components maker. The move by US-based Preethi (59), a fourth-gen member of the storied TV Sundram Iyengar clan, is being seen as a step towards exiting the family business.Preethi’s…
MUMBAI: RBI has tightened norms for deposit-taking housing finance companies and brought them on an par with non-banking finance companies. The new norms increase liquidity requirements, restrict deposit mobilisation based on credit rating and restrict branch opening. The revised rules also now allow HFCs to participate in derivatives pertaining to interest rate, currencies, and credit…
NEW DELHI: Retail inflation softened to a near 5-year low in July, led by a moderation in vegetables, fruits and spices and the impact of a statistical high-base effect, bringing much-needed relief from the stubborn price pressures witnessed in the past few months and triggered hopes of a cut in interest rates in the second…
NEW DELHI: Bharti Global, the international investment arm of Bharti Enterprises, on Monday announced the acquisition of a 24.5% stake in iconic BT Group plc from Altice UK, which will make it the largest shareholder in the company that once owned 21% in Bharti Airtel.Bharti has already acquired 9.9% in the UK’s top fixed and…
