Process health workers’ insurance claims on priority, Nirmala Sitharaman tells States

PMGKP scheme for healthcare workers has been extended for a year after the emergence of the second COVID-19 wave Insurance companies have processed just 419 claims pertaining to frontline healthcare workers who lost their lives in the COVID-19 pandemic, Finance and Corporate Affairs Minister Nirmala Sitharaman said on Saturday, urging insurers to expedite settlement of… Continue reading Process health workers’ insurance claims on priority, Nirmala Sitharaman tells States

Staples Proposes To Acquire ODP’s Consumer Business For $1.0 Bln Or $18.27/share – Quick Facts

Staples, known as USR Parent, Inc., on Friday floated a proposal to acquire ODP Corp.’s consumer business for $1.0 billion or $18.27 per share in cash. ODP’s consumer business includes the Office Depot and OfficeMax retail stores business, the direct channel business (officedepot.com), and the Office Depot and OfficeMax intellectual property, including all brand names.… Continue reading Staples Proposes To Acquire ODP’s Consumer Business For $1.0 Bln Or $18.27/share – Quick Facts

SBI Q4 profit jumps 80% to ₹6,451 crore as bad loans situation improves

The board has recommended a dividend of ₹4 per share or 400% on the face value for the financial year ended March 31, 2021 The country’s largest lender SBI on Friday reported an 80% surge in standalone net profit at ₹6.450.75 crore for the fourth quarter ended March 2021, aided by decline in bad loans.… Continue reading SBI Q4 profit jumps 80% to ₹6,451 crore as bad loans situation improves

Cairn identifies $70 billion Indian assets for seizing to recover amount due from govt

Once a court recognises Air India as the alter ego of the Indian government, Cairn can seek attachment or seizure of its assets in the US. UK’s Cairn Energy has identified $ 70 billion of Indian assets overseas for potential seizure to collect $ 1.72 billion due from the government — a move if successful… Continue reading Cairn identifies $70 billion Indian assets for seizing to recover amount due from govt

Dr. Reddy’s Q4 net slips 29%

Drugmaker reports profit of ₹557.3 cr. as revenue rises 7% Dr. Reddy’s Laboratories on Friday reported fourth-quarter consolidated net profit fell 29% to ₹557.3 crore, while operational revenue rose 7% to ₹4,768.2 crore. Chief Financial Officer Parag Agarwal said profit was lower as the company had recognised a deferred tax asset in the March ’20… Continue reading Dr. Reddy’s Q4 net slips 29%

‘Lockdowns to dent gold sales on Akshaya Tritiya’

Dealers pin hopes on digital demand Gold buying on Akshaya Tritiya this year may be muted as stores remain closed following lockdowns in 19-20 cities, according to dealers. However, demand for digital gold and Gold ETFs is likely to witness a rise, they say. “Consumer demand, as compared with the previous years, has taken a… Continue reading ‘Lockdowns to dent gold sales on Akshaya Tritiya’

Dutch govt grants $2.4B in subsidies to huge carbon storage project

Fox Business Flash top headlines for May 7 Check out what’s clicking on FoxBusiness.com. AMSTERDAM – The Dutch government has granted a consortium that includes oil majors Royal Dutch Shell and ExxonMobil around 2 billion euros ($2.4 billion) in subsidies for what is set to become one of the largest carbon capture and storage (CCS)… Continue reading Dutch govt grants $2.4B in subsidies to huge carbon storage project

‘Indian offshore model will dominate IT scene for a decade’

Firms in India are ‘pandemic winners’; prices trend lower IT markets are picking up to such a degree that both the U.S. and Europe are running out of critical skills, and with this, offshore and Indian alternatives are increasingly becoming attractive for tech buyers, analysts said. In addition to the skills shortage, the pandemic-induced work-from-home… Continue reading ‘Indian offshore model will dominate IT scene for a decade’

‘We waited in the portal line for over three hours’: Small business grants for live event venues are available

Go to any community – from big cities to small towns – and at the heart you’ll find a place where people come together to experience live events, such as concerts, plays, a museum or a movie theater. It’s the place where locals go Saturday night and parents take their kids, and it draws visitors from… Continue reading ‘We waited in the portal line for over three hours’: Small business grants for live event venues are available

Reliance Q4 profit more than doubles

Jio, retail arm spur parent profit to ₹13,227 crore; RIL’s FY21 revenue falls on lower volumes, realisation Following better year on year performance in its Jio Platforms, Retail and Oil to Chemicals (O2C) businesses Reliance Industries Ltd. (RIL) on Friday said fourth quarter consolidated net profit more than doubled to to ₹13,227 crore from ₹6,348… Continue reading Reliance Q4 profit more than doubles

Non-food credit growth slows in March

Pace eases to 4.9%, from 6.7% a year earlier; medium industries see robust uptake Non-food bank credit growth for March ’21 stood at 4.9% compared with 6.7% a year earlier, as per data on sectoral deployment of bank credit collected by the Reserve Bank of India (RBI) from 33 scheduled commercial banks. This accounted for… Continue reading Non-food credit growth slows in March

Dr. Reddy’s expects first lot of Russia’s COVID-19 vaccine Sputnik V by May-end

Once available, Sputnik V will be the third vaccine to be used in India against coronavirus Dr. Reddy’s Laboratories, which has received approval from the Indian drug regulator for restricted emergency use of COVID-19 vaccine Sputnik V, on April 27 said it expects the first lot of stock from Russian Direct Investment Fund (RDIF) by… Continue reading Dr. Reddy’s expects first lot of Russia’s COVID-19 vaccine Sputnik V by May-end

New York Community Bancorp, Flagstar Bancorp To Combine In $2.6 Bln All Stock Deal – Quick Facts

New York Community Bancorp, Inc. (NYCB) and Flagstar Bancorp, Inc. (FBC), jointly announced Monday that they have entered into a definitive merger agreement under which the two companies will combine in an all stock merger valued at about $2.6 billion. Under terms of the agreement, which was unanimously approved by the Boards of Directors of… Continue reading New York Community Bancorp, Flagstar Bancorp To Combine In $2.6 Bln All Stock Deal – Quick Facts

FirstGroup To Sell First Student, First Transit To EQT For $4.6 Bln; Sees FY21 Profit Ahead Of View

FirstGroup plc (FGROY.PK,FGROF.PK,FGP.L), a provider of transport services in the UK and North America, Friday announced that it has entered into an agreement to sell North American contract divisions First Student and First Transit to EQT Infrastructure. In the deal, the headline enterprise value is 3.3 billion pounds or $4.6 billion, including First Transit earnout… Continue reading FirstGroup To Sell First Student, First Transit To EQT For $4.6 Bln; Sees FY21 Profit Ahead Of View

Biden takes virtual tour of company that Energy Secretary Granholm held multimillion-dollar stake in

Varney: Thank Democrat socialists for climate rules FOX Business’ Stuart Varney discusses President Joe Biden’s stance on climate change and why “China is laughing at us.” President Biden took a virtual tour of electric vehicle manufacturer Proterra on Tuesday, a company that Energy Secretary Jennifer Granholm had previously disclosed a multimillion-dollar stake in. Biden received… Continue reading Biden takes virtual tour of company that Energy Secretary Granholm held multimillion-dollar stake in

NCLAT orders stays committee for OYO unit insolvency proceedings

‘Claimant has already drawn ₹16 lakh’ Hospitality firm OYO on Thursday said the National Company Law Appellate Tribunal (NCLAT) had ordered a stay on the formation of a committee of creditors in proceedings under the Insolvency and Bankruptcy Code against its subsidiary OYO Hotels and Homes Pvt. Ltd. (OHHPL). Earlier, the National Company Law Tribunal… Continue reading NCLAT orders stays committee for OYO unit insolvency proceedings

IFFCO announces hike in fertilizer rates

Farmers won’t have to pay the revised prices as existing stocks of 11.26 lakh metric tonnes of complex fertilisers will be sold at the old rates, says IFFCO chief India’s largest fertilizer maker IFFCO has effected a sharp hike in fertilizer prices, with as much as a 58.33% hike in the price of Di-Ammonium Phosphate… Continue reading IFFCO announces hike in fertilizer rates

IFFCO announces hike in fertilizer rates

Farmers won’t have to pay the revised prices as existing stocks of 11.26 lakh metric tonnes of complex fertilisers will be sold at the old rates, says IFFCO chief India’s largest fertilizer maker IFFCO has effected a sharp hike in fertilizer prices, with as much as a 58.33% hike in the price of Di-Ammonium Phosphate… Continue reading IFFCO announces hike in fertilizer rates

Global banks warn of possible losses from hedge fund default

Credit Suisse didn’t identify the ‘significant’ hedge fund or the other banks affected Swiss bank Credit Suisse said Monday it may have suffered a “highly significant” loss from a default by a U.S.-based hedge fund on margin calls that it and other banks made last week, while Japan’s Nomura said it could face a loss… Continue reading Global banks warn of possible losses from hedge fund default

Anthem, Inc. To Buy Home Health Benefits Manager MyNEXUS – Quick Facts

Anthem Inc. (ANTM) announced Wednesday that it has entered into an agreement to acquire home health benefits manager myNEXUS, Inc. from an investor group led by WindRose Health Investors, a New York-based healthcare private equity firm. Financial terms of the transaction were not disclosed. myNEXUS delivers integrated clinical support services for approximately 1.7 million Medicare… Continue reading Anthem, Inc. To Buy Home Health Benefits Manager MyNEXUS – Quick Facts