Today’s Business Headlines-12th April 2017-Tentaran.com

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Here are the Business Headlines as on 12th April 2017:

Business Standard

Wal-Mart to eliminate hundreds of corporate jobs gobally. Many of the cuts will affect ‘hundreds’ of positions in Wal-Mart’s international and technology businesses.
Jio brings in new offer for Prime members. It announced a new plan of 1 GB 4G data for three months at Rs 309 for its Prime members. Rival Airtel, however, dubbed it as a case of “old wine in a new bottle.”
Shareholders of Aditya Birla Nuvo Ltd, controlled by billionaire Kumar Mangalam Birla, approved plans for a merger with Grasim Industries that would create a firm with $9 billion in combined revenue.
Toshiba grapples with billions of dollars in losses from its Westinghouse Electric nuclear business.
Vedanta, Cairn India finish merger to form $15.6-bn market cap entity. Cairn Energy will have a 5% holding in Vedanta after the merger.
VEicher CEO downplays Bajaj claims, says not easy to unseat Royal Enfield. Enfield enjoys almost the entire 250-350 cc motorcycle market in country.
SC pulls the plug on Tata, Adani power tariff relief. Earnings downgrade likely, order paves way for stricter power agreements.

Mint

Fundraising done, Flipkart now under pressure to boost sales and reduce costs. Flipkart has to justify fundraising and eBay India acquisition by keeping Amazon India at bay and cutting costs.
D-Mart parent Avenue Supermarts is now world’s most expensive retail stock. D-Mart parent Avenue Supermarts shares are currently trading at 160% over the offer price, giving the retail firm a market capitalization of Rs48,500 crore.
LIC doubles profit from sale of stocks in 2016-17. It booked Rs21,000 crore in profits in FY17, compared with Rs11,000 crore in FY16.
Tata Steel JV poses high risk for Thyssenkrupp, warns German union. Germany’s biggest union , IG Metall, is opposing the joint venture saying JV will lead to job losses, closing of steel factories.

Economic Times

ITC, the makers of Sunfeast biscuits and Bingo Chips is wanting to grow in the Bridge snack product.
SsangYong, South Korean SUV maker, is fast tracking its Joint venture development work with M&M to bring out new products at lower costs in Indian market.
Nocil is a hot favourite for Investors; Ashish Kacholia picks up 2.8% stake.
To support agri landing target, Nabard plans to raise Rs.50,000 crore in this fiscal year.

Startup world

Stayzilla co-founder, Vasupal granted conditional bail on bond of Rs.40 Lacs from Chennai High Court.Judge proposed path of mediation to settle the dispute and considered that this was a business dispute.
Sebi may ease AIF regulations for start-up investments.
HackerEarth, technical talent management platform, raises approx. 30 crores in Series A funding led by DHI group.
Kiji Foods raises Rs.3 Crore in Angel funding from Shekhar Sahu and Kunal Sinha.
SaaS Squad, earlier known as SquadRun raises approx. Rs.13 Crore from a clutch of investors.
TinMen, meal delivery startup from Hyderabad, gets funding from MAPE Advisory Group and Corvus Ventures.
Fintech Companies like Rubique, CoinTribe, Paisabazaar and BankBazaar continue to grow their business supported by 12% y-o-y growth in Banks’ personal loans.