ArcelorMittal has agreed to make a bigger offer of Rs 42,000 crore for the debt-laden Essar Steel, following negotiations with lenders to the company, senior bankers have indicated to FE. So far, the offer included a Rs 35,000-crore upfront payment to lenders apart from a Rs 8,000-crore equity infusion into the company.

Target Corp, aiming to one-up retail rivals during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at local stores. The Minneapolis-based retailer will offer free two-day shipping on hundreds of thousands of items from Nov. 1 to Dec. 22 with no order minimum or membership required. Target had announced the shipping service in March.

Kotak realty fund (KRF) has received commitments worth a significant amount from marquee investors over and above the Rs 2,300 crore it has raised as part of its two new funds, chief executive officer (CEO) Vikas Chimakurthy told FE in an interaction on Tuesday. KRF has already deployed part of the funds and has ample liquidity that is yet to be deployed.

The Supreme Court on Tuesday asked Reliance Communication Ltd to clear the dues of Rs 550 crore to telecom equipment maker Ericsson India by December 15, saying that delayed payment would attract an interest of 12 per cent per annum.

A bench headed by Justice R F Nariman said that it was the last opportunity given to RCom for clearing the settlement amount.

Sonia Dhawan on Tuesday let Paytm made headlines for all the wrong reasons. Sonia Dhawan, Vijay Shekhar Sharma's secretary has been arrested for allegedly trying to extort Rs 10 crore from Paytm's boss man. But who is Sonia Dhawan and what sort of data she stole from her boss?

Dhawan before she allegedly leaked Paytm's confidential information to her accomplices Rupak Jain and Devendra Kumar, had a career which can make people envy.

The Reserve Bank of India appears to have moved away from its hands-off exchange rate strategy as the rupee plumbed fresh lows earlier this month.

The country’s foreign-exchange reserves plunged $5.14 billion in the week ended October 12, the biggest drop in seven years, hinting the central bank intervened to stem the rupee’s losses from getting out of hand after it held interest rates at an October 5 meeting.

The National Stock Exchange (NSE) has received from the regulator approval to launch 25 metric tonnes copper contracts on its platform, an exchange statement said.

NSE, which launched gold and silver contracts to mark its foray into commodity derivatives on October 12, will launch this contract soon.

Activist Rehana Fathima, a BSNL employee who had made an attempt to enter the Lord Ayyappa Temple in Sabarimala, has been transferred to the Palarivattom telephone exchange in the city where public contact is not required, sources said.

Fathima, a telecom technician working in the customer relations section at the Boat Jetty branch here, was Tuesday transferred to the telephone exchange at Palarivattom, the sources said.

IT industry body Nasscom on Monday said it has signed a letter of intent with the Hiroshima Government to work together in creating Japan-India IT corridor to facilitate partnerships between companies from both nations.

“The Hiroshima Government will co-invest with Nasscom in creating Japan India IT Corridor that could be at the forefront of promoting B2B cooperation and talent transfer from India to Japan,” Nasscom said in a statement.

Mumbai: The benchmark BSE Sensex on Tuesday extended its losing spree for the fourth straight day and dipped below the 34,000-mark in early trade, on unabated foreign fund outflows and selling by domestic institutional investors amid weakness in Asian markets.

Moreover, the rupee depreciating by another 23 paise to 73.79 against the dollar also dampened sentiments.

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