Deepak Parekh rules out HDFC Ergo IPO for now, says firm needs to be bigger before it goes public

Deepak Parekh rules out HDFC Ergo IPO for now, says firm needs to be bigger before it goes public

Deepak Parekh, the chairman of the HDFC Group, has reportedly ruled out a listing of general insurance arm HDFC Ergo in the medium term, saying the company needs to grow much bigger for a public float. Parekh said it will...
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Burberry burns bags, clothes and perfume worth millions

Burberry burns bags, clothes and perfume worth millions

Image copyright Getty Images Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand. That was 6% higher that the value of products the company disposed of in the previous...
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Pound drops below $1.30 as June retail sales fall

Pound drops below $1.30 as June retail sales fall

Image copyright Getty Images The pound has dipped below $1.30 after figures revealed that retail sales dropped in June, confounding expectations of an increase. The Office for National Statistics said sales fell by 0.5% between May and June, below forecasts...
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Standard Chartered Bank’s private equity arm to buy Naspers’ stake in travel firm TBO

Standard Chartered Bank’s private equity arm to buy Naspers’ stake in travel firm TBO

Mumbai: British lender Standard Chartered Bank’s private equity arm on Wednesday said it will pick up South African company Naspers’ stake in travel firm TBO, for an undisclosed sum, to become the majority owner. An official statement said Standard...
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Google hit with 4.3bn euro Android fine from EU

Google hit with 4.3bn euro Android fine from EU

Image copyright Getty Images/Google Google has been fined a record 4.34 billion euros ($5bn; £3.9bn) over Android. The European Commission said the firm had used the mobile operating system to illegally “cement its dominant position in general internet ...
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Gaucho restaurant chain collapses

Gaucho restaurant chain collapses

Image copyright Gaucho Image caption Gaucho has 16 restaurants in the UK, including one in Richmond, west London About 1,500 jobs are at risk after the Gaucho restaurant chain said it intended to appoint administrators. Advisors to the business had...
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Sensex recovers 196 points to close at 36,519.96 on sharp fall in crude prices; oil, metal, PSU stocks gain

Sensex recovers 196 points to close at 36,519.96 on sharp fall in crude prices; oil, metal, PSU stocks gain

Mumbai: The Sensex on Tuesday rebounded by over 196 points to close at 36,519.96 as oil, metal and PSU stocks rallied after a sharp drop in global crude oil prices. Sentiment got a boost after crude oil prices in global...
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Tax rise needed to fund NHS spending boost, says watchdog

Tax rise needed to fund NHS spending boost, says watchdog

Image copyright PA The government must raise taxes or cut spending to fund Theresa May’s planned increase in NHS funding or risk putting the country’s finances under pressure, the UK’s fiscal watchdog has warned. The Office for Budget Respons...
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Wage growth slows despite jobless fall

Wage growth slows despite jobless fall

Image copyright Getty Images UK wages rose more slowly in the three months to May, despite a further fall in unemployment, official figures show. Wage growth slipped to 2.7% from 2.8% in the three months to May, while unemployment fell...
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Sensex drops 217 points on sell-off in banking, pharma stocks; Nifty closes below 11,000

Sensex drops 217 points on sell-off in banking, pharma stocks; Nifty closes below 11,000

Mumbai: Market benchmark BSE Sensex dropped by around 218 points or 0.60 percent due to continued sell-off in banking, pharma, and metal stocks amid foreign fund outflows and weak Asian cues. The broad-based Nifty cracked below the 11,000-mark as 35...
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