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Audit clears Facebook despite Cambridge Analytica leaks
Posted on 21st April 2018
An audit of Facebook’s privacy practices for the Federal Trade Commission found no problems even though the company knew at the time that a data-mining firm improperly obtained private data from millions of users — raising questions about the usefulness of such audits. Facebook agreed to outside audits every two years as part of a 2011 settlement with the FTC over its privacy practices.

HDFC Bank Q4 net profit rises 20% to Rs4,799 crore
Posted on 21st April 2018
Mumbai: HDFC Bank Ltd on Saturday said its fourth quarter net profit rose 20.28% on the back of higher net interest income and other income.

The bank posted a net profit Rs4,799.28 crore for the three months ended 31 March compared to Rs3,990.09 crore in the year-ago period. Profit was lower than Rs4,858.9 crore estimated by a Bloomberg poll of 22 analysts.

L&T sells Bengaluru land parcel to Phoenix-CPPIB platform for Rs650 crore
Posted on 21st April 2018
Bengaluru: Island Star Mall Developers Pvt. Ltd, a strategic investment alliance by Phoenix Mills Ltd and Canada Pension Plan Investment Board (CPPIB) has acquired a land parcel in Hebbal, north Bengaluru for Rs650 crore from L&T Construction Equipment Ltd.

Posted on 21st April 2018
North Korea on Saturday announced its suspension of all missile tests and shutting down of nuclear test site, saying its quest for nuclear arms was "complete" and it "no longer needed" to test its weapons capability.

"Under the proven condition of complete nuclear weapons, we no longer need any nuclear tests, mid-range and intercontinental ballistic rocket tests, and that the nuclear test site in northern area has also completed its mission," North Korean leader Kim Jong-un was quoted as saying by the state-run KCNA news agency.

PNB impounds passports of 150 wilful defaulters
Posted on 21st April 2018
NEW DELHI: Punjab National Bank (PNB), the country’s second-largest public sector lender + , has impounded passports of 150 wilful loan defaulters apart from lodging 37 FIRs against those who are not repaying loans as part of its recovery drive.

“The bank has already declared 1,084 wilful defaulters and published photos of 260 such defaulters in newspapers,” the bank said in a statement.

Yes Bank opens offices in London, Singapore
Posted on 21st April 2018
MUMBAI: Yes Bank has receveid RBI’s approval to open two representative offices in London and Singapore. This comes on the back of the bank opening a representative office in Abu Dhabi last year followed by an office the GIFT City.

“Opening of representative offices in key financial and trade hubs like London and Singapore, in addition to our existing office in Abu Dhabi, gives us an effective coverage for most key global geographies,” said Rana Kapoor, MD & CEO, Yes Bank.

CIL to get a new boss
Posted on 21st April 2018
Calcutta: Coal India could see another rejig at the top, eight months after the Centre appointed an interim head for the public sector miner.

Senior bureaucrat Suresh Kumar is likely to be the new acting chairman and managing director of Coal India.

Axis drill for Shikha successor
Posted on 21st April 2018
Mumbai: Axis Bank on Friday said it had started the process of appointing a successor to managing director and CEO Shikha Sharma.

Earlier this month, Sharma had requested the board of the private sector lender that her tenure be curtailed.

RBI stance spoils mood
Posted on 21st April 2018
Mumbai: Both the rupee and the bond markets felt the impact of the hawkish tone of the RBI in the minutes of its last monetary policy meeting as the rupee dropped below the 66-mark, while the yields (rates) on government securities spiked.

The domestic currency on Friday dipped below the key 66-level at the opening trades itself and settled at a 13-month low of 66.12 against the US currency.

Toyota, Maruti Suzuki set to clash on shared models
Posted on 21st April 2018
NEW DELHI: Toyota and Suzuki’s tie-up for cross-badging of cars is set to result in a high-pitched battle between the two Japanese companies in the Indian market. Toyota, which will start selling Suzuki’s Brezza mini SUV and Baleno compact from next year as part of the ambitious deal, has said that it will aim to maintain the pricing on the cars even while giving them a new look on the exterior and the interior.

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