BUSINESS
India relatively bright spot in global economy: IMF official
IMF's deputy managing director Antoinette Sayeh said during a conference organised by the organisation that Indian economy is making significant progress on structural reforms agenda. She further noted that India's macroeconomic policies are responding to global headwinds, while monetary policy is addressing high inflation and fiscal policy measures are sound.
NCLAT dismisses Wave Group's appeal for insolvency proceedings
The NCLAT upheld the old order, along with the fine of Rs 1 crore. Wave Megacity Centre Private Limited, of Sector 32-25, Noida, had filed a petition for Corporate Insolvency Resolution Process (CIRP) in the NCLT, which was dismissed by it on June 6, 2022.
Indian equity markets to be resilient in 2023
This despite concerns around global slowdown and a possible recession in the West due to unwinding of monetary policy by major global central banks, Windmill Capital added. As to the challenges in the current year to global economic and equity growth, escalation of geo-political tensions between Russia-Ukraine, China-Taiwan, and a fresh spike in prices of crude oil, the company said.
Must report any improper behaviour on aircraft to authorities at the earliest, says Air India CEO to staff
In an internal communication to the employees, the CEO referred to the recent incidents saying, "This week has, regrettably, been dominated by media headlines of which you are no-doubt familiar. The repulsion felt by the affected passenger is totally understandable and we share her distress." He said that whilst the story is more complicated than has been reported, there are clearly some lessons we can and must learn.
Fitness firm Peloton to pay $19 mn for hiding safety defect in its treadmill
The US Consumer Product Safety Commission (CPSC) said in a statement that the settlement resolves its charges that Peloton knowingly failed to immediately report to the commission, as required by law, "that its Tread+ treadmill contained a defect that could create a substantial product hazard and created an unreasonable risk of serious injury to consumers".Peloton recalled both of its treadmills -- the 'Tread' and 'Tread Plus' -- in 2021. While the 'Tread' had a wobbly screen, the premium 'Tread Plus' caused multiple reports of injuries and, in one instance, the death of a child.
Samsung Q4 operating profit likely down 69% on chip price falls
The world's largest memory chip and smartphone maker estimated its October-December operating profit at 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year ago. In an earnings shock, Samsung reported a quarterly operating income of less than 5 trillion won for the first time in eight years after posting 4.06 trillion won for the third quarter of 2014, reports Yonhap news agency. "With external business environments set to remain uncertain, chip sales plummeted due to lower demand from server clients, data centres and handset makers," Samsung Electronics said in a statement.
Air India's action unfair and discriminatory: Experts
Aviation expert Harshvardhan said: "This is unfair and discriminatory. There has to be equity in the treatment of such grave misconduct." Earlier, Trinamool Congress leader Mahua Moitra questioned the DGCA after Air India decided to impose a 30-day flight ban on a man accused of urinating on a co-passenger.
IT stocks at crossroads, says Kotak Securities report
According to the report, the saviours are cost takeout deals, and margin tailwind from rupee depreciation not kicking in and the margin improvement providing some solace. Even as revenue growth decelerates, Kotak Securities expects double digit earnings per share (EPS) growth in FY2024.
AI conduct unprofessional, led to systemic failure, notes DGCA in urination case
Observing that provisions related to handling of an unruly passenger onboard have not been complied with, it asked why enforcement action should not be taken against the airline executives concerned for dereliction of their regulatory obligations in the matter.
NCLAT refuses to grant stay on CCI order on Google's appeal
"We welcome the NCLAT order of not granting a stay on directions passed by the CCI. The CCI directions were passed after a lengthy investigation keeping in mind Google's clear and unequivocal abuse of dominance practices, which have terribly harmed the Indian consumer, ecosystem and economy," MapmyIndia CEO and ED, Rohan Verma, told IANS.
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