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Modi govt throws battered telcos a Rs 42,000-cr lifeline

The deferred amounts to be paid by telcos will be without increase in the time period, the FM said.

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Nov 21, 2019, 01.48 AM IST

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Zomato denies merger talks with rival Swiggy

Zomato is currently delivering 1.3 mn orders a day from 150,000 restaurants across India at more than 10 orders per restaurant per day. Swiggy has expanded its services to 500 cities in India, matching rival Zomato's reach. Swiggy, which has added 60,000 new restaurants in the past six months, said in October it would expand to 600 cities by December 2019.

BSNL-MTNL merger may be completed in 24 months: Telecom Minister Ravi Shankar Prasad

The government has earlier said that till the completion...

U.S. Fed approves merger between BB&T, SunTrust Banks

Analysts have said such a tie-up has been made possible by regulatory easing under the ...

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  • The deal, which would combine the providers of two of Japan's top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business. It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund.

    The third-largest U.S. wireless carrier will go to trial on Dec. 9 to fight a state attorneys general lawsuit that alleges the merger would be harmful to consumers. T-Mobile said Legere will remain CEO until April 30, and will be succeeded by Chief Operating Officer Mike Sievert. Legere will continue to be a member of T-Mobile's board.

    Icahn, who owns a 10.6% stake in Xerox, now owns a 4.24% stake in HP, the Journal said. An HP spokesperson told Reuters the company is aware of Icahn’s investment and is committed to doing what is in the best interests of all HP shareholders. HP did not disclose how much stake Icahn owns in the PC maker.

    Worries about violent anti-government protests in Hong Kong also soured investor sentiment.

    DoT has sought dues worth over Rs 8,000 crore on account of one-time spectrum charges (OTSC) and said in its appeal to the apex court that the demand was based on the licence conditions, said people aware of the developments. The appeal was filed last week and hearing has been set for November 15.

    To begin with, BoB brought the entire set-up under a four-tier structure that it originally had, created more zones and regions, and adopted a unified reporting structure. “This exercise we did in April helped smoothen the other business processes and systems that had to be aligned,” said Roy.

    In a meeting of Allahabad Bank and Indian Bank in the city on Wednesday, she told executives, staffs and officers of both the banks that the amalgamation of two banks is aimed at bringing about "scale of operations and qualitative exposure in different areas for employees and improvement in economy and country at large".

    According to Max India, 99.21% of the public shareholders voted in favour of the proposed scheme. Subsequently, the second motion petition is likely to be filed with NCLT soon. Max Healthcare and Advaita (to be renamed as Max India) are both expected to be listed on the Indian stock exchanges by March end, 2020.

    A new report by Baker McKenzie has predicted India M&A to remain stable in the next few years, with private investments reviving against the backdrop of a more favourable business environment, despite global headwinds. IPOs' proceeds is forecasted to dip from USD 3.4 bn in 2019 to USD 2.7 bn in 2020, before picking up again in 2021 to USD 4.3 bn.

    What has been working for us so far will work in the future as well, says LIC chairman MR Kumar.

    The pan-European STOXX 600 fell 0.1% at 0807 GMT and London's FTSE 100 was down 0.4%.

    Does merging solve the issue of competitiveness? GoI needs to ponder over this if it plans to stay in the biz.

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