Jain Irrigation Systems on Tuesday said that its global irrigation business will be merged with Temasek-owned Rivulis in a cash-and-stock deal worth Rs 4,200 crore. The combined entity will have a revenue of $750 million and will be the second largest global irrigation and climate leader. While Temasek will hold 78% in the merged entity, […]
The Association of Mutual Funds in India (AMFI) clarified on Tuesday that AMCs (asset management companies) may resume subscriptions and make investments in overseas funds and securities up to the headroom available without breaching the overseas investment limit utilised by individual mutual funds and AMCs as on February 1, 2022. The assets under management of […]
The Government could be forced to pay a compensation bill as big as the entire defence budget if a legal challenge launched today over the rejigging of the retail prices index succeeds. Analysts estimate that the Treasury could in theory be forced to pay compensation of as much as £40 billion to holders of index-linked […]
A major outage at content delivery network Cloudflare caused hundreds of websites across the internet to stop working and return a ‘500 Internal Server error’ message this morning. A content delivery network (CDN) is a distributed group of severs around the world that work in unison. Websites use these CDNs to deliver content from the […]
A staggering 87 per cent of workers are working longer hours than they are contracted to, with most agreeing they have found themselves doing more when working from home according to recent research. The study found that workers in Oxford, Sheffield and Worcester have the longest working day, at an average length of 7.3 hours. […]
The quadrupling of interest rates since December has tipped thousands of companies into insolvency, with a 30 per cent spike in the last three months. Almost 6,000 firms have gone down according to Mazars, the audit and tax specialists, up from 4,578 inn the previous three months. This comes after the Bank of England raised […]
The battle for customers is increasingly heating up in the UK banking scene with one major current account provider now offering 5 per cent interest on balances up to £1,500 for the first 12 months. Nationwide Building Society previously offered 2 per cent fixed for 12 months on balances up to £1,500 on its FlexDirect […]
HONG KONG — The Australian dollar rose on Tuesday after the central bank flagged more rate hikes were on the way, but the uptick was restrained by lower commodity prices, while the Japanese yen languished near a 24-year low. Read More
Dmitry Muratov, the co-winner of the 2021 Nobel Peace Prize and the editor of one of Russia’s last major independent newspapers, auctioned off his Nobel medal for a record $103.5 million to aid children displaced by the war in Ukraine. Read More
Bitcoin is trading above $20,000, with other cyptocurrencies showing tentative signs of recovering from last week’s rout. Meanwhile, Babel Finance, the distressed crypto lender which froze withdrawals on Friday, said it won a reprieve on debt repayments as it battles to survive. Joanna Ossinger reports on Bloomberg Television.