NEW DELHI: ArcelorMittal said Essar Steel’s creditors put the seal on its acquisition of the bankrupt company, a day after the erstwhile promoters sought to make a last-minute bid to regain control.

“Further to ArcelorMittal being named the H1 resolution applicant (the preferred bidder) on October 19, 2018, ESIL’s CoC (committee of creditors) has now approved the company’s resolution plan for ESIL (Essar SteelNSE 0.00 % India Ltd), with the LoI (letter of intent) identifying it as the successful resolution plan,” ArecelorMittal said in a release.

Pakistan, which remains the breeding ground and supporter of global terrorism, is responsible for three times the terror risk to humanity that Syria poses, says a study -- 'Humanity at Risk - Global Terror Threat Indicant (GTTI) -- by Oxford University and Strategic Foresight Group (SFG).

As per the GTTI, while the Afghan Taliban and the Lashkar-e-Taiyyaba (LeT) pose the maximum threat to international security in future,

Microsoft Corp regained its spot as the second most valuable US company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer's market capitalisation.

Apple Inc tops the list at over $1 trillion after crossing that threshold in September. Microsoft's market capitalisation was Wall Street's highest in late 1998 through early 2000 before the dot-com bubble burst.

Microsoft is committed to complying with the law of the land when it comes to data privacy and will honour data localisation requests from all countries, including India.

“We will have to comply with data laws of various countries. That is mandatory for us. We are already fully compliant with the EU General Data Protection Regulation (GDPR) and will do the same with other countries’ data protection laws,” Ann Johnson, Corporate Vice President, Cybersecurity Solutions Group at Microsoft, told IANS.

The billionaire Mukesh Ambani-led Reliance Industries Ltd’s strategic partnership with Den Networks Limited and Hathway Cable and Datacom Limited might be a ‘win-win’ for all three companies, but it will have a negative impact on broadcasters and direct-to-home (DTH) players, India Ratings (Ind-Ra) said on Friday. The deal would lead to consolidation in the multiple system operators (MSOs) market, and this, in turn, could be negative for broadcasters by impacting their bargaining power to command higher subscription revenue, Ind-Ra said.

New Delhi: In the extortion case of Paytm co-founder Vijay Shekhar Sharma, even as the police assigned motive to company vice-president of communication, Sonia Dhawan, saying she plotted the extortion to buy a house worth Rs 4 crore in Delhi, along with her husband Rupak Jain, Dhawan’s family has claimed otherwise.

Police say Jain’s property business was not doing well and the couple hatched the plan to extort money from Paytm co-founder Vijay Shekhar Sharma.

The Bharat Heavy Electrical (BHEL) stock skid 7.4% on Thursday as the company missed street earnings forecasts, even as it reported a 60.5% year-on-year (y-o-y) rise in net profit to Rs 185.2 crore for the three months to September. The company recorded a revenue of Rs 6,779.9 crore, up 6.3%, in Q2FY19. Analysts had estimated that BHEL’s profit in the quarter would be in the range of Rs 220-236 crore.

UK-based bus maker Optare has said its parent company Hinduja flagship Ashok Leyland (ALL) has increased its shareholding in Optare to 99.08% from 98.31% during 2017-2018 to convert Optare’s debt to equity, resulting in significantly lower levels of debt. John Fickling, the non-executive chairman of Optare, in the company’s latest annual report, revealed that Optare will have continued integration with ALL to deliver export opportunities and material savings.

The benchamrk BSE sensex opened in red, falling more than 300 points. At 9:45 AM, Sensex was at 33,426.12 down by 263.97 points or 0.78% while Nifty was at 10,032.10 points, down by 92.80 points.

Top losers in the 30-share Sensex were Asian Paints, Maruti, Kotak Bank, Bharti Airtel, NTPC and Yes Bank. Heavyweights Yes Bank, Kotak Bank and NTPC contributed most to the losses.

US online retail giant Amazon has said that it witnessed 6 per cent growth in new customer additions in India, thanks to its festive season sales that kicked off in early October. The growth came on the back of yet another quarter of subdued growth in international sales, which includes India, in the quarter ended September.

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