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Accel invests Rs 1 bn in Sachin Tendulkar backed Universal Sportsbiz
Posted on 19th October 2018
Universal Sportsbiz (USPL), the owner of fashion brands Wrogn, Imara, and Ms. Taken, has raised fresh investment of Rs 1 billion ($13.5 million) from venture capital firm Accel Partners India, valuing the fast-fashion retailer at Rs 12 billion ($160 billion).

Alteria Capital Advisors, a Mumbai-headquartered investment firm, also invested Rs 65 million ($1 million) in this round.


Why Northern Virginia is best suited for Amazon's second headquarters
Posted on 19th October 2018
Amazon won’t say a word about where it plans to put its much-hyped second headquarters. Officials in the 20 cities and regions named as finalists say that they don’t know anything — and that even if they did, they wouldn’t share it publicly.

But that hasn’t stopped investors, economic officials and developers from trying to reverse engineer the HQ2 search, to understand what a company seen as embodying the future wants and needs, and what local governments should do to be part of that future.


HDFC puts out notice to auction family house of Sanjay Chandra
Posted on 17th October 2018
New Delhi: As their real estate empire crumbles, Chandras of Unitech may even lose their family home to lenders. Mortgage lender HDFC has put out notices to auction Sanjay Chandra’s house in the upmarket Hauz Khas area in South Delhi.

Unitech managing director Sanjay Chandra grew up in the Mayfair Garden house in Hauz Khas where his mother ran a clinic.


Paytm Money appoints Cyrus Khambata to its board
Posted on 17th October 2018
New Delhi: Paytm Money, the wealth management unit of One97 Communications Ltd., on Wednesday said it had appointed former executive director of Central Depository Services Ltd. (CSDL India) Cyrus Khambata to its board of directors.

Khambata, considered an industry veteran in capital markets, has previously served as the managing director of CDSL Ventures and CDSL Insurance Depository.


Tata Motors eyes tie-ups with Ola, Uber with new shared mobility platform
Posted on 17th October 2018
New Delhi: Tata Motors Ltd has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions, said two people aware of the development. Named Mobility Innovations Hub, the new department is headed by Pankaj Jhunja, formerly with Tata Technologies, said the people cited above, who did not want to be named.

Sensex jumps 267 points on strong earnings and global cues
Posted on 17th October 2018
The equity benchmark Sensex rallied for the fourth straight session Wednesday, and jumped 267 points, on encouraging second quarter earnings by tech major Infosys and positive global cues.

The 30- share Sensex soared 267.26 points, or 0.76 per cent, to 35,429.74. It had rallied 1,161 points in the previous three sessions.


RIL pips TCS again to become India’s most valued firm; Mukesh Ambani-led firm’s rise so far
Posted on 17th October 2018
Billionaire Mukesh Ambani-controlled Reliance Industries Ltd (RIL) on Tuesday pipped the information technology (IT) giant Tata Consultancy Services (TCS) to become the country’s most valued firm by market capitalisation. As per Tuesday’s close, Reliance Industries’ market capitalisation was recorded at Rs 7,37,576.57 crore on the Bombay Stock Exchange (BSE), up Rs 1,471.26 crore from that of Tata Consultancy’s market capitalisation of 7,36,105.31 crore on Tuesday, data available with the stock exchanged showed.

Amazon invests $10mn to support US recycling infrastructure
Posted on 17th October 2018
Amazon on Tuesday announced a new investment of $10 million in Closed Loop Fund (CLF) to support recycling infrastructure in the US aimed at cutting the amount of waste treated at landfills.

Amazon said its investment will increase the availability of curbside recycling for three million homes in communities across the country, making it easier for customers to recycle and further develop end markets for recycled commodities, Xinhua reported.


Severe air quality may prompt Delhi govt to bring back odd-even scheme soon
Posted on 7th October 2018
With the city rolling out Graded Response Action Plan (GRAP) to battle deteriorating air quality, the odd scheme may make a comeback if it plummets to 'very poor' or 'severe' category. The Delhi government and the Supreme Court empowered Environment Pollution Control Authority (EPCA) are mulling this and banning of construction activity as future measures if the air continues to worsen.

Govt hikes GPF interest rate to 8% for Oct-Dec quarter
Posted on 17th October 2018
The government has increased the rate of interest for General Provident Fund (GPF) and other related schemes by 0.4 percentage points to 8% for the October-December quarter.

The rate is in line with that for Public Provident Fund.


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