Here are the India Business News Headlines as on 12th July 2017:
- Amazon.com’s prime day sale is expected to be the biggest shopping event in its history by sales. Sale is estimated to be around $500 mn in a 30-hour event.
- HC has stayed search order of Vikram Bakshi’s premises till July 21, issued by a district court in an alleged matter of forgery. Bakshi is currently fighting against McDonald’s on his removal from the position of MD of Connaught Plaza Restaurants, the firm that runs franchise of McDonald’s outlets in northern and eastern India.
- Innoviti Payment Solutions, a payments technology company backed by Narayana Murthy’s Catamaran, has raised Rs120 crore in its latest round of funding from SBI-FMO and Bessemer Venture Partners. Funds will be used to boost its businesses across the retail supply chain.
- Tata Steel’s UK arm has signed an agreement to sell two pipe mills in Hartlepool, England to Liberty House Group.
- Vistara has appointed Leslie Thng as the Chief Executive for Vistara, effective October 2017. Thng has held many senior positions in the airline and has significant experience across international markets and various businesses.
- Flickstree, a personalised digital video curation platform, has received funding of approx. Rs.3 Crore from Sourav Ganguly, Aditya Group and Moksh Sports. The platform curates data for end users from across sites including YouTube, Vimeo, Facebook, etc.
- “Startup visa” plan of US has been deferred to be implemented in March 2018. The program, announced by Barack Obama, was to allow entrepreneurs who started companies in US to live there.
*News as published in Business Standard, Live Mint and Economic Times.