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Donald Trump slams CEO Sundar Pichai, says watching Google ‘very closely’ over political meddling accusations

Donald Trump slams CEO Sundar Pichai, says watching Google ‘very closely’ over political meddling accusations

U.S. President Donald Trump on Tuesday stepped up his accusations against Google, claiming without offering evidence that the technology company worked to subvert his 2016 presidential campaign and warning he was watching it “very closely” ahead of the 2020 election. Trump, in a series of early posts on Twitter, also slammed Google’s Chief Executive Officer Sundar Pichai, and again raised questions about the search engine’s work with China, despite his administration’s earlier comments that any such work was limited.

PNB Housing raises $75 million through ECB route

PNB Housing raises $75 million through ECB route

One of India’s largest housing finance companies, PNB Housing Finance, has raised $75 million from Sumitomo Mitsui Banking Corporation (SMBC), Singapore, in its second external commercial borrowing (ECB) in FY20.

The housing finance company (HFC) was able to raise funds at a cheaper rate as against the prevailing domestic market rates by nearly 60 basis points (bps) — at 8.4% — for a period of three years, a company executive said.

Ashok Leyland: Maintain ‘buy’ with TP of Rs 87

Ashok Leyland: Maintain ‘buy’ with TP of Rs 87

Q1 EBITDA margin at 9.4% was in line with our estimate (ahead of consensus by 60 bps), but revenue/PAT missed. Management remained non-committal on volume growth number for FY20 (earlier was expecting 10-12% industry growth) given the continued demand weakness.

While demand recovery remains crucial, it has initiated Rs 5-bn cost reduction program which should aid margin.

RIL, BP expand ties to service stations, ATF biz

RIL, BP expand ties to service stations, ATF biz

British Petroleum (BP) and Reliance Industries Ltd (RIL) on Tuesday announced a new joint venture (JV) that will include a retail service station network and aviation fuels business across India.

The JV will incorporate and build on RIL's current fuel retailing network of over 1,400 sites across India, which the partners aim to grow rapidly to up to 5,500 sites over the next five years.

FM Nirmala Sitharaman starts revival brainstorming with MSME meet

FM Nirmala Sitharaman starts revival brainstorming with MSME meet

Finance minister Nirmala Sitharaman along with micro, small and medium enterprise (MSME) minister Nitin Gadkari on Tuesday met the representatives of the MSME sector as part of the second round of consultations with the stakeholders to address sector-specific issues in the economy.

Yes Bank ratings under review again

Yes Bank ratings under review again

Mumbai: Global rating agency Moody's, on Monday, kept Yes Bank's ratings under review for a downgrade, noting that the private sector lender has more than Rs 10,000 crore of loans under a watchlist and Rs 7,500 crore investment in bonds that have been downgraded.

Sensex rebounds over 200 points; Nifty above 10,900

Sensex rebounds over 200 points; Nifty above 10,900

Domestic equity benchmark BSE Sensex rebounded over 200 points and the NSE Nifty reclaimed the 10,900 level in early trade on August 6 led by gains in banking and auto stocks.

The 30-share index was trading 214.96 points, or 0.59%, higher at 36,914.80 at 0930 hours. Similarly, the broader NSE Nifty was quoting 68.65 points, or 0.63%, up at 10,931.25.

Analyst corner: Maintain ádd’ on Indian Oil, revised TP Rs 156

Analyst corner: Maintain ádd’ on Indian Oil, revised TP Rs 156

The first quarter Ebitda at `8,400 crore and PAT at `3,600 crore were significantly higher than our/street estimates on higher-than-expected GRM and inventory gains (against inventory loss expectations) as some of the crudes in its slate had higher price by quarter end.

The management is confident of benefiting from IMO-regulation led rise in GRM (more so at Paradip refinery) and expects current marketing EBITDA levels to sustain in FY20.

Amazon squeezing sellers that offer better prices on Walmart

Amazon squeezing sellers that offer better prices on Walmart

Amazon.com Inc.’s determination to offer shoppers the best deals is prompting merchants selling products on its marketplace to raise their prices on competing websites, a testament to the company’s growing influence over the e-commerce market.

Amazon constantly scans rivals’ prices to see if they’re lower. When it discovers a product is cheaper on, say, Walmart.com, Amazon alerts the company selling the item and then makes the product harder to find and buy on its own marketplace — effectively penalizing the merchant.

Bajaj Auto, TVS Motor offer zero-interest loans to woo customers

Bajaj Auto, TVS Motor offer zero-interest loans to woo customers

With sales subdued and inventory with dealers piling up, two-wheeler makers like Bajaj Auto and TVS Motor have started facilitating zero-interest loans in select states to woo buyers. Meanwhile, Hero MotoCorp has dropped the interest on loans to 7% from the prevailing 10-12%. Manufacturers are offering these soft loans via their finance arms — TVS Credit, Hero FinCorp and Bajaj Auto Finance. The offer is currently available in some markets.

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