EU fines Google $1.7 bn for abusing online ads market

EU fines Google $1.7 bn for abusing online ads market

Thursday, 21 March 2019 | AP | Brussels

European Union regulators have hit Google with a 1.49 billion euro ($1.68 billion) fine for abusing its dominant role in online advertising. It’s the third time the commission has slapped Google with an antitrust penalty, following multibillion-dollar fines resulting from separate probes into two other parts of the Silicon Valley giant’s...

RBI seeks modification of NCLAT order in IL&FS case

Wednesday, 20 March 2019 | PTI | New Delhi

The Reserve Bank of India has moved the National Company Law Appellate Tribunal (NCLAT) over the order passed  regarding classification of debt of IL&FS group companies as NPA. A two-member NCLAT bench, headed by Justice S J Mukhopadhaya, has said that it would hear the RBI on the issue. The RBI is...

Das underlines need to stick to fiscal targets

Wednesday, 20 March 2019 | PTI | Mumbai

Reserve Bank governor Shaktikanta Das on Tuesday underlined the need for sticking to the fiscal roadmap by adopting a commonly agreed expenditure code-based spending plan to address the socioeconomic challenges. He also advocated giving permanent status to the finance commission. The comments from the former-economic-affairs- secretary-turned-central banker assume importance as the...

Germany launches 5G auction amid row with US over Huawei

Wednesday, 20 March 2019 | AFP | Berlin

Germany launches its auction on Tuesday for the construction of an ultra-fast 5G mobile network as a transatlantic dispute rages over security concerns surrounding giant Chinese telecoms equipment maker Huawei. The United States has threatened to end intelligence sharing with Berlin if it does not exclude hardware made by Huawei from...

Rs  pauses after 6-day rally, slips 43 paise against US dollar

Wednesday, 20 March 2019 | PTI | Mumbai

Halting its six-day winning run, the Indian rupee Tuesday edged lower by 43 paise to close at 68.96 to the US dollar on emergence of demand for the greenback from importers. The local currency also came under pressure due to rising crude pressure and a caution ahead of the outcome of...

Banks may infuse funds provided major shareholders pledge shares

Wednesday, 20 March 2019 | PTI | New Delhi

Banks are likely to infuse fresh funds into cash-strapped Jet Airways provided major shareholders of the airline, including Gulf carrier Etihad Airways, pledge their shares as collateral, sources said. With the airline unable to get fresh funds, the options are limited now, they added. The full service carrier is grappling with acute...

Prabhu asks Aviation Secy to hold emergency meet

Wednesday, 20 March 2019 | PTI | Mumbai

Aviation Minister Suresh Prabhu on Tuesday directed his Ministry’s secretary to hold an emergency meeting on the debt-ridden Jet Airways massively cancelling flights after grounding of a large part of its fleet. The Minister’s direction came in the wake of the airliner drastically reducing its operations due to liquidity crunch. “Directed Secretary,...

IOC pays 2nd interim dividend; ONGC to consider on Mar 23

Wednesday, 20 March 2019 | PTI | New Delhi

State-owned Indian Oil Corp (IOC) on Tuesday declared a second interim dividend of Rs 1,412 crore for the current financial year and ONGC agreed to do so next week to help the Government meet its tax revenue target. In a stock exchange filing, IOC, the nation’s biggest oil firm, said its...