Nov 14, 2016 - HDFC Life, Max Financial Services group's mega insurance merger plan hits IRDAI's roadblock

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from India Finance

Sree Vijaykumar

From the Editor's Desk
Most American blue-collar workers have little direct contact with the rich outside of Lifestyles of the Rich and Famous. But professionals order them around every day. The dream is not to become upper-middle-class, with its different food, family, and friendship patterns; the dream is to live in your own class milieu, where you feel comfortable - just with more money. "The main thing is to be independent and give your own orders and not have to take them from anybody else," a machine operator told Lamont. Owning one's own business - that's the goal. That's another part of Trump's appeal. Hillary Clinton, by contrast, epitomizes the dorky arrogance and smugness of the professional elite. The dorkiness: the pantsuits. The arrogance: the email server. The smugness: the basket of deplorables. Worse, her mere presence rubs it in that even women from her class can treat working-class men with disrespect. Look at how she condescends to Trump as unfit to hold the office of the presidency and dismisses his supporters as racist, sexist, homophobic, or xenophobic. More here

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SEBI Looks To Relax Startup Listing Rules In India

Soon, we may find companies like Flipkart, Paytm, Ola, to consider the possibility of listing in the country. The proposal is under discussion and is said to be part of the final recommendation report scheduled to be submitted the next month.

The $41 billion wealth gap that divides India’s richest brothers

The sale of RCom assets to Reliance Jio brings the saga of Mukesh Ambani and Anil Ambani full circle and sets the stage for the next chapter in the story of one of India’s greatest business dynasties

Opinion | The anatomy of banking frauds

Some of the recent frauds shows that Indian banks need significant improvements in operation and governance standards

ICICI Bank offers full finance for car loans up to Rs 20 lakh in 4 hours

ICICI Bank said it is the first bank to offer upto 100% finance on the on-road price of the car. Valid only for its savings bank account customers, the bank disburses the amount of the loan, for tenure upto 7 years, in just 4 hours.

Sensex, BSE MidCap valuation gap shrinks sharply in FY19

From the beginning of 2018-19, the premium of BSE MidCap index to Sensex has slipped 65.11% to current levels from the highs it had touched on 3 September

RIL’s consumer businesses deliver on growth; investments stay high

In the first six months of the year, Reliance Jio has spent about ₹44,000 crore in capital and operating expenses (excluding interest and depreciation). In the same period, it earned revenues of ₹17,350 crore.

Supreme Court’s decision on Aadhaar: impact on tax compliance

In view of the implications arising on invalidation of PAN, every resident individual who is required to file a tax return in India should evaluate the requirement of obtaining Aadhaar and then ensure linking it with their PAN

What is market volatility and why it bothers investors

A stock or is said to be volatile if its price moves up and down frequently and by a substantial amount

Novartis targets prostate cancer with $2.1 billion Endocyte deal

Novartis will pay $24 a share for Endocyte, 54% more than its closing price Wednesday of $15.56

Reliance says 2018-19 profit may rise 18% on capacity addition

Reliance Industries’s (RIL’s) net profit for Q2 rises 17.4%, led by higher price realizations for petrochemical and refinery products

Sebi directs Singh brothers to pay ₹403 crore to Fortis Healthcare

Singh brothers and eight other entities have prima facie diverted ₹403 crore from Fortis Healthcare for the ultimate benefit of RHC Holding and Religare Finvest violating the securities laws, Sebi says

Advertising’s #MeToo moment: 4 top bosses of Dentsu Aegis resign

Dentsu Aegis says Happy Creative Services’ CEO Kartik Iyer and MD Praveen Das have resigned after multiple sexual harassment charges. Bodhisatwa Dasgupta and Dinesh Swamy have also stepped down

Yes Bank CEO Rana Kapoor meets rival promoter Madhu Kapur, seeks a united front

Yes Bank CEO Rana Kapoor has proposed Madhu Kapur that they combine their stakes and form a joint promoter group, ending their decade-long rivalry

Leap Green appoints Barclays to help raise $300-400 million

Leap Green Energy will use the funds for expansion of its renewable energy capacity

Shriram Properties plans to file IPO papers by December

Shriram Properties, the real estate subsidiary of the Shriram Group has hired Axis Bank, Nomura and Edelweiss to manage the IPO, says MD Murali Malayappan

Invesco to buy OppenheimerFunds, adding $246 billion in assets

At a time when many investors are deserting active funds, Invesco CEO Martin Flanagan is convinced that active funds will continue to play a critical role in the portfolios of retail and institutional customers

IvyCap Ventures unveils angel fund, targets ₹60 crore corpus

IvyCap Ventures is targeting a corpus of up to ₹60 crore for the angel fund that will invest only in seed and pre-series A rounds in startups

Tata Sons said to be in talks to buy stake in Jet Airways

Tata Sons has sought management control of Jet Airways, seeking at least 26% initially and another 26% via an open offer later, says a report

Universal Sportsbiz raises $13.5 million from Accel, others

Universal Sportsbiz plans to utilize the funding from investors Accel Partners, Alteria Capital and others to spread its offline retail network and expand its portfolio of brands while investing in technology

IL FS Transportation: Vineet Nayyar, Rajan not yet appointed on board

It can be noted that following a string of defaults, and the resultant market mayhem, the government earlier this month took over the company and appointed a new six-member board.

As NBFCs pull plug on credit, builders stare at cash crunch, defaults

Serial defaults at IL&FS made it hard for NBFCs to raise money, forcing them to avoid fresh lending.

Air India may raise ₹500 crore from banks next week

The fund-raising initiative by Air India has the backing of a sovereign guarantee by the government

Real estate stocks biggest losers in market correction since August

Change of stance on interest rates, tightening liquidity for NBFCs hit sector that had begun to see a revival.

India could be removed from US currency monitoring list

United States says if India continues with the same practices as in the last six months, it could be removed from the currency monitoring list

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