India Finance and Business news

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RIL to acquire majority stakes in Hathway, DEN for Rs 52.3 billion
Business Standard Reliance Industries (RIL), the country's largest company by market capitalisation, said on Wednesday it was acquiring majority stakes in Hathway Cable & Datacom and DEN Networks for Rs 52.30 billion. The announcement brings to an end speculation... --

Facebook shareholders back proposal to remove Mark Zuckerberg as chairman
Facebook shareholders back proposal to remove Mark Zuckerberg as chairman The proposal, set to be voted on at the company#39;s annual shareholder meeting in May 2019, is asking Facebook#39;s board to make the role of board chair an independent position.

ITC To Resume Cigarette Manufacturing
ITC manufactures a range of cigarette brands, including India Kings, Classic, Gold Flake, Navy Cut, Capstan, Bristol, Flake, Silk Cut, which are manufactured at plants in Bengaluru, Munger, Saharanpur...

India seeks to speed up foreign deals with 'one-stop shop'
The Finance Ministry, seeking to speed up deals with outside investors, is set to take full control of the oversight of more than $40 billion a year in foreign direct investments and share purchases, two government sources said.

View: Impunity of sexual predators must end
View: Impunity of sexual predators must end​​#MeTooIndia has exposed a deep wound, but the wound has been festering for decades.

Sensex sheds 382 point over profit booking, crude oil prices
Mumbai: Profit booking, along with a slight rise in global crude oil prices and depreciation in the Indian rupee, pulled the key Indian equity indices lower on Wednesday after three consecutive days of gains.Sector-wise, except for IT and FMCG stocks, all others witnessed heavy selling pressure led by auto, finance and banking counters.Index-wise, the benchmark S&P BSE Sensex settled at 34,779.58 points, down 382.90 points or 1.09 per cent.The NSE Nifty closed at 10,453.05 points, down 131.70 points, or 1.24 per cent.The volatility during the trade session can be gauged by the 878.27 points swing in Sensex from an intra-day high of 35,605.43 points and a low of 34,727.16.

L.L. Bean rebuffs boycott over granddaughter’s big Trump donation
L.L. Bean rebuffs boycott over granddaughter’s big Trump donationA man wipes off the headlights of the L.L. Bean Bootmobile in the parking lot at the facility where the famous outdoor boot is made. L.L. Bean is pushing back against a boycott led by a group urging consumers not to shop at retailers that support President-elect Donald Trump after it was revealed that Linda Bean, heir of the Maine-based company’s founder, had donated to a political action committee that helped elect Trump. “We are deeply troubled by the portrayal of L.L. Bean as a supporter of any political agenda,” Shawn Gorman, L.L. Bean’s executive chairman, said in a statement posted to Facebook late Sunday.