ECONOMY & NATION


IANS 27 October 2016
South Korean tech giant Samsung Electronics' net profits in the third quarter dropped by a massive 16.8 per cent, primarily due to the Galaxy Note 7 discontinuation, the company announced on Thursday.   Operating profit dropped 29.7 per cent from a year earlier to 5.2 trillion won...

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Moneylife Digital Team 27 October 2016
Religare, a brokerage firm which has consistently been negative on the micro-finance institutions (MFIs), even as they have reported excellent profits, accompanied by rising stock prices, has sounded another warning. It points to the troubled micro-finance debt situation in Wardha. Loksatta,...

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IANS 26 October 2016
A Special CBI court here on Wednesday acquitted former Karnataka Chief Minister and BJP state unit President B.S. Yeddyurappa in a bribery case.   Pronouncing the verdict in a packed courtroom, Judge R.B. Dharamaguder also exonerated Yeddyurappa's two sons B.Y. Raghavendra and B.Y....

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Nishant Arora (IANS) 26 October 2016
While some of the countrys premier banks are busy blocking debit cards that have been compromised (the numbers run into millions) in one of the financial sectors biggest data breaches, its time for banks to adopt state-of-the-art, fully encrypted ATM security solutions to safeguard consumers,...

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IANS 26 October 2016
The Federation of LPG Distributors on Tuesday threatened to go on indefinite strike across the country from December 15 if the central government did not address its concerns about safety in distribution of gas connections to the poor under Pradhan Mantri Ujjawala Yojana...

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IANS 26 October 2016
Marking the third straight quarter of declining iPhone sales, Apple has posted quarterly revenues of $46.9 billion and quarterly net income of $9 billion -- down nearly 9% from revenue of $51.5 billion and net income of $11.1 billion in the year-ago quarter.   Announcing the results...

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Derek Willis (ProPublica) 26 October 2016
Here's how I learned that someone voted as me in the 2012 general election.   On March 26, 2014, three investigators from Maryland's Office of the State Prosecutor sat at my dining room table and showed me a signature on a photocopy taken from a D.C. poll book. The scrawl looked more...

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Moneylife Digital Team 25 October 2016
The tax revenues of 16 states that account for 70% of all states' tax revenues remained sluggish during April to June quarter of FY2017, mainly acute shortage in tax collection, says a research report.   In the note, Edelweiss Securities Ltd, says, "Among various sources of taxes—oil,...

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Amidst reports of security breach in over 30 lakh automatic teller machine (ATM) cards, it is now appearing that compromise or ignorance or lack of security measures by all players, including banks, financial institutions, service provider and the customers was behind the episode. Despite...

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Amit Kapoor (IANS) 25 October 2016
The Tata group is no stranger to Indians. It has had a long and illustrious history in the sub-continent and has been one of the pillars of the country's industrial success post-independence.   Well known for the development of towns and locations where it operates (Jamshedpur is...

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IANS 25 October 2016
Tata Sons Interim Chairman Ratan N. Tata, hinting at possible changes in the group companies, on Tuesday urged them to "act as leaders in their respective markets and enhance returns to shareholders".   "The companies must focus on their market position vis-a-vis competition, and not...

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IANS 25 October 2016
Industrialist Cyrus P. Mistry on Tuesday denied that he has filed any caveat pertaining to his removal as Chairman of Tata Sons.   "Cyrus (Mistry) has not filed any caveats. He has already made a statement that such concerns are misplaced at this stage," his office said...

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IANS 25 October 2016
A day after Cyrus P. Mistry was voted out as Chairman of Tata Sons, the Shapoorji Pallonji Group said on Tuesday that it was "studying the circumstances" of the unexpected corporate coup.   Mistry has not reacted officially on the development leading to his removal from Tata Sons,...

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IANS 25 October 2016
The Income Tax department will send SMS alerts regarding quarterly Tax Deducted at Source (TDS) deductions to around 2.5 crore salaried tax payers through a facility launched here on Monday by Finance Minister Arun Jaitley.   The Central Board of Direct Taxes (CBDT) will soon offer...

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IANS 25 October 2016
Brazilian aerospace conglomerate Embraer on Monday announced reaching a settlement with the US and Brazilian authorities in the ongoing corruption investigation against it.   The terms of settlement include payment of $206 million to the authorities, and an external and independent...

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IANS 24 October 2016
As many as 24 Maoists, including eight women, were killed by security forces in a gunbattle which also left a Greyhounds commando dead near the Andhra-Odisha border on Monday, police said.   Acting on intelligence inputs, a combined team of Andhra Pradesh and Odisha Police carried out...

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Moneylife Digital Team 24 October 2016
In a sudden turn of events that has stunned the corporate world, Ratan Tata, the corporate icon, who retired in 2012 as chairman of the Tata Group is back at the helm. Tata Sons, the holding company of the Tata conglomerate, on Monday appointed Mr Tata as interim Chairman for four months...

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IANS 24 October 2016
In a setback to Samsung Electronics, 527 owners of Galaxy Note 7 smartphone in South Korea on Monday filed a class-action lawsuit against the company for inconvenience experienced after the discontinuation of the device.   According to the Harvest Law Office here, the plaintiffs filed...

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Bank nationalisation was celebrated as one of the biggest achievements of Indira Gandhi, in 1969. Successive governments, since then, touted rapid bank expansion as the most significant benefit of nationalisation. And, yet, as we get ready to mark 50 years of bank nationalisation, the claims...

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IANS 24 October 2016
In a classroom in the government school here in southwest Rajasthan, about 25 students from standards 3, 4 and 5 standing in a circle, animatedly recited a story spoken by a specially trained volunteer-called a Team Balika (Team Child) -- their recitation gradually rising in decibels with...

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