The 2017 Nobel prize in economics has been awarded to American academic Richard Thaler.

Richard Thaler is from the University of Chicago and has been given the prestigious award for his remarkable contributions to behavioural economics.

As Walmart continues to build out its e-commerce business to rival Amazon’s, its latest development will build on some of the retail giant’s most established operations: Walmart is launching a new in-store returns service called Mobile Express Returns.

People who purchase items online and then need to return them can do so by logging them on the Walmart app, generating a QR code for the transaction, and then walking into a physical Walmart store to return or exchange the items quickly.

Mumbai: Reliance Industries Ltd (RIL) on Friday agreed to sell the first of its shale gas ventures—upstream Marcellus shale gas assets in northeastern and central Pennsylvania in the US—for $126 million.

The assets held by Reliance Marcellus II LLC, a unit of Reliance Holding USA Inc. and Reliance Industries Ltd (RIL), were sold to BKV Chelsea LLC, an affiliate of Kalnin Ventures LLC. It is currently operated by Carrizo Oil & Gas, Inc. In 2010, RIL had bought a 60% stake in the assets for $392 million.

New Delhi: Mahindra and Mahindra Ltd is in early talks with its partner Ford Motor Co. to procure a vehicle platform on which the Mumbai-based company aims to build an all new electric sedan, two people with direct knowledge of the matter said.

In lieu of this platform, Mahindra will share its affordable electric vehicle technologies with Ford, which the American company plans to use in its entry-level cars such as Figo and Aspire, these people said on condition of anonymity.

The key equity indices Sensex and Nifty opened marginally higher on Monday and extended the gains following the recent ease in tax slabs under the GST regime on Friday. The government lowered taxes on as many as 27 goods and services in the third GST Council meeting after implementation of Goods and Services. The benchmark Sensex jumped 98 points to breach 31,900-level at 31,912 points while the broader Nifty advanced 26 points to cross the 10,000-mark at 10,006.45 points. BSE Sensex gained 48 points to open at 31,862.2 points and NSE Nifty added 16 points to start at 9,996.3 points.

Kingfisher Airlines case: Now-defunct Kingfisher Airlines understated losses to the extent of Rs 7,151.18 crore for financial years 2008-09 to 2011-12 by tweaking accounting practice, according to Indian Express report. This jhas been found during a probe conducted by the government’s Serious Fraud Investigation Office (SFIO) into the matter, the report says. These were in violation of accounting standards, according to report. Kingfisher has done this to obtain higher bank loans. Notably, some of these loans were used to meet continuing cash losses.

A new era of credit appraisal is dawning on the nation's biggest lender, when it comes to funding small-scale companies. The State Bank of IndiaBSE 0.45 % is now assessing the borrower based on their bank statements instead of the balance sheet.

"We are now evaluating a company's ability to repay the loan based on their cash flow," said a senior SBI executive. "For this, we draw analysis from their bank statement of one year and collaborate it with their balance sheet."

Finally, National Highways Authority of India (NHAI) has come out with a tender to monetise road assets through toll-operate-transfer (TOT) model.

The government highway developer has released a Request for Proposal to attract private players to take up nine operational highway projects in Andhra Pradesh and Gujarat.

Idea Cellular today said it achieved the highest 4G upload speed in September citing data compiled by telecom regulator Trai's MySpeed app.

Idea Cellular topped the chart in terms of average 4G upload speed for September at 6.307 mbps, the private telecom player said in a statement reeling off the Trai data.

After Reliance launched the Jio Phone, many major players are planning to jump on the bandwagon of low-cost 4G phones. Recently it was reported that Bharti Airtel will soon launch its own cheap 4G smartphones in the market. But now, another big company seems to have set its target in the vast unexplored market of feature mobile with 4G VoLTE capacities. According to a report in The Economic Times, HMD Global may soon enter the 4G feature phone segment in India. HMD Global is a Finnish company which now manufacturers phones under the Nokia brand.

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