Economy

Centre merges Bank of Baroda, Vijaya Bank, Dena Bank

Centre merges Bank of Baroda, Vijaya Bank, Dena Bank Reacting on the proposal of merger, the FM said that the government had announced in the Union Budget that consolidation of banks will be on the agenda of the government. In contrast to net non performing assets (NPA) ratio of 11.04 per cent for Dena Bank, 5.40 per cent for Bank of Baroda and 4.10 per cent for Vijaya Bank, the combined entity will have net NPA ratio of 5.71 per cent, according... [Full Article...]

Salesforce founder Marc Benioff and wife acquiring Time Magazine for $190 million

Salesforce founder Marc Benioff and wife acquiring Time Magazine for $190 million Lynne Benioff and Marc Benioff attend GLAAD Gala San Francisco 2016 on September 8, 2016 in San Francisco, California. The Wall Street Journal previously reported on the Time deal, which is slated to close in the next 30 days. Meredith , known for publications such as Better Homes & Gardens, acquired Time as part of its $1.8 billion takeover of Time Inc.in January. [Full Article...]

China Reportedly Prepared to Respond to Tariffs with 'Firm Countermeasures'

A 10 percent tariff will be implemented on $200billion (£152billion) of Chinese goods on September 24, rising to 25 percent at the start of 2019, according to the United States leader. "For months, we have urged China to change these unfair practices and give fair and reciprocal treatment to American companies", Trump said in a statement. [Full Article...]

Diver who helped with Thai cave rescue sues Elon Musk

You'll recall Unsworth was critical of Elon's efforts to build a mini-submarine to help with the rescue. The lawsuit explains Mr Unsworth's role in the rescue, saying that on 23 June, when the youngsters became trapped, several Thai officials called and asked him to go to the cave as soon as possible. [Full Article...]

China will hit back at any new USA tariffs: ministry

White House spokeswoman Lindsay Walters declined comment on the timing of a possible announcement, but said: "The President has been clear that he and his administration will continue to take action to address China's unfair trade practices". [Full Article...]

Thai rescue diver sues Elon Musk over 'pedo' comments

The complaint filed in the U.S. District Court in Los Angeles seeks at least $75,000 of compensatory damages, plus unspecified punitive damages. A lawyer for the diver, Vernon Unsworth filed a lawsuit against the SpaceX and Tesla Founder, over tweets Musk sent during the rescue of a Thai boys soccer team in June and July. [Full Article...]

Elon Musk’s Boring Company uses Xbox controller to operate its machine

Elon Musk’s Boring Company uses Xbox controller to operate its machine Now his Boring Company is revealing just how much fun it has digging those transport tunnels. The firm is now working on a number of tunnel projects, including a test tunnel at its headquarters in Hawthorne, California, for research and development of future public transportation systems. [Full Article...]

Coca-Cola is eyeing the cannabis market

Coca-Cola is eyeing the cannabis market Neither company confirmed the talks, but they didn't exactly deny them, either. "No decisions have been made at this time", Coke added. Corona maker Constellation Brands is ploughing more than $4 billion into marijuana producer Canopy Growth to make cannabis based products, while Molson Coors Brewing Co's Canadian arm has said it will make cannabis-infused drinks with Hydropothecary Corp. [Full Article...]

Amazon investigating claims of employees leaking data for bribes

Amazon investigating claims of employees leaking data for bribes Amazon policies prohibit disclosing this information, and the online retail giant has reportedly launched an internal investigation to determine which employees are violating the company's policies. including terminating their selling accounts, deleting reviews, withholding funds, and taking legal action". Middlemen working for sellers in China who want negative reviews of their products deleted... [Full Article...]

Man reportedly eats strawberry with needle inside, police confirm 4 'contamination' incidents

Man reportedly eats strawberry with needle inside, police confirm 4 'contamination' incidents People in possession of the brands in question should refrain from using them and strawberries from other companies "should be cut up" for safe measure, police said in the update , quoting Queensland's Chief Health Officer Dr. A media spokeswoman for the Police Minister who was at the event said fortunately the Commissioner was aware of the incident. "The father took the strawberries to the s... [Full Article...]

India's Iran oil purchases to fade ahead of U.S. sanctions

India's Iran oil purchases to fade ahead of U.S. sanctions US light crude fell $1.15 to a low of $69.22/Bbl, Kallanish Energy reports. It is the first-time prices soared as high since 2014, when freezing winter weather across the United States drove up the demand for oil. The change comes at a time when the oil market is already facing a high degree of uncertainty, partly due to the Trump administration's decision to cut Iranian oil imports to zero ... [Full Article...]

Hurricane Florence: As floodwaters rise, death toll reaches 14 in North Carolina

Hurricane Florence: As floodwaters rise, death toll reaches 14 in North Carolina Roy Cooper said as the relenting storm puttered slowly west near the SC border. At the height of the flooding, some residents were trapped in attics, and others couldn't escape because roads were rendered impassable by rising waters, including from the Neuse River. [Full Article...]

Metal found in Queensland bananas Australian police confirm

These include Donnybrook strawberries and those sold by the Woolworths Group under the Berry Obsession and Berry Licious names. New Zealand imports strawberries from Australia during the off-season in this market. "Until advised, consumers should cut up strawberries before consuming them", Queensland Health later said in a statement posted on Twitter . Federal Health Minister Greg Hu... [Full Article...]

Trump 'likely' to announce new China tariffs as early as Monday

Trump 'likely' to announce new China tariffs as early as Monday All of Trump's top advisers have been united in his effort to push China to change its economic practices, but they have been split on his tactics. "Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for US consumers", the company said in a letter to the U. [Full Article...]

Karnataka Cuts Petrol, Diesel Prices By Rs 2/ Litre

Karnataka Cuts Petrol, Diesel Prices By Rs 2/ Litre Chief Minister HD Kumaraswamy said that he hoped the move will give some relief to consumers. In Mumbai, the petrol price is at Rs 89.01 per litre after it increased by Rs 0.34 per litre while the diesel price is at Rs 78.07 per litre which again increased by Rs 0.25 per litre. [Full Article...]

Australian state offers $98450 reward over strawberries sabotaged with needles

Australia's industry development officer Jennifer Rowling said: "It's quite devastating for our growers - they're really upset about it, obviously, because this is their livelihood and someone has taken it upon themselves to do something really nasty". [Full Article...]

Time magazine bought for $190 million by co-founder of Salesforce

The deal could close within a month but must first get regulatory approval. In 2017, Meredith sealed the deal on the purchase of Time with the backing of conservative billionaires Charles and David Koch . Time , founded in 1923, has contended with a decline in print advertising in recent years. It is expected Meredith will seek a buyer for its other news and sports brands - Sports Illust... [Full Article...]

Bank of England keeps rates on hold

Bank of England keeps rates on hold Exporters surveyed for the BoE saw a 40 percent chance that Brexit would hurt their sales. The Pound Euro (GBP/EUR) exchange rate held steady during yesterday's trading session as another gloomy ZEW survey from Germany prevented the single currency from making solid gains against Sterling. [Full Article...]

Brunswick Nuclear Plant shutting down

Brunswick Nuclear Plant shutting down Power outages from Hurricane Florence, which made landfall Friday morning in North Carolina and SC, have topped 945,000 customers. After the Fukushima disaster, the Nuclear Regulatory Commission forced United States plants to adjust their safety requirements. [Full Article...]

Australia offers reward amid mystery strawberry needle scare

Officials said it is still safe to buy strawberries but consumers should cut them up before eating them. Among the reports cited by the BBC are a 9-year-old boy who's said to have bit into a strawberry with a needle (he didn't swallow it) and a 21-year-old man who reportedly went to the ER after he ingested half a needle and experienced "severe abdominal pain". [Full Article...]


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