Friday , 22 September 2017
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Tag Archives: Finance

Finance firms install ‘kill switch’ devices to cut out car engine and leave drivers stranded if they miss a payment

RUTHLESS car finance firms are fitting controversial “kill switches” that immobilise vehicles if drivers fail to meet payments. The devices are understood to be offered to those with poor credit scores – but financial watchdogs say lenders could be breaking the law, it’s reported. ALAMY Kill switches are being installed by car insurance firms and can cut out car engines ... Read More »

What’s on the Agenda at China’s Five-Yearly Finance Meeting: Q&A

Xi Jinping  Photographer: SeongJoon Cho/Bloomberg Once every five years, China’s leaders get together to consider ways to improve the country’s gigantic and complex financial system. The next meeting of the National Financial Work Conference takes place July 14-15 in Beijing, with President Xi Jinping expected to attend. There’ll be plenty to talk about. Reining in financial risk is a key ... Read More »

Srei Equipment Finance to raise Rs 1,000 cr via NCDs

Industry machinery financier Srei Equipment Finance Ltd plans to raise up to Rs 1,000 crore by floating bonds in a public issue that opens next week. The company will issue unsecured, redeemable non-convertible debentures of face value of Rs 1,000 each amounting to Rs 500 crore with a green shoe option to retain over-subscription. The issue will be open for ... Read More »

Uneasy lies London’s finance crown, says EY

London is still the top European destination for international finance firms, but Paris and Frankfurt are closing the gap thanks to Brexit, according to a survey of business sentiment by the audit firm EY. “The attractiveness of the UK financial services sector has not yet fallen,” said Omar Ali, UK financial services leader at EY. “We have to be realistic though, ... Read More »

HDFC ERGO ties up with Utkarsh Small Finance Bank

Private general insurer HDFC ERGO General Insurance signed a corporate agency agreement with Utkarsh Small Finance Bank for the distribution of general insurance products through the Bank’s network of branches across the country. The association with Utkarsh Small Finance Bank will offer general insurance products from HDFC ERGO to the Bank’s general banking and micro banking clients across India. Anuj Tyagi, ... Read More »

The challenge of long-term finance

India is already the largest borrower from the World Bank. Photo: Hemant Mishra/Mint The 2008 financial crash is understood to have been caused by a combination of greedy loan-pushing bankers, carefree NINJA borrowers (or No Income, No Job or Assets), negligent rating agencies, hungry investors (for yield), and indulgent regulators. Nobody so far (outside of Iceland) has gone to jail ... Read More »

Uber finance head Gautam Gupta quits; Jan-March loss narrows

Uber Technologies Inc said its head of finance is leaving, and the privately held ride-hailing company also said that its first-quarter loss narrowed substantially from the prior quarter, putting it on a path toward profitability. Head of finance Gautam Gupta is leaving in July to join another startup in San Francisco, the company said, making Gupta the latest high-profile executive ... Read More »

Trading Calls: Buy Muthoot Finance, Cipla; Sell Vedanta, Say Experts

Aditya Agarwal, Ruchit Jain and Lovelesh Sharma share their trading/short-term picks Indian markets struggled in early trade today but Nifty managed to hold the crucial 9,600 levels. Despite Nifty and Sensex trading flat, there was action aplenty in broader markets. The midcap and smallcap indices saw strong gains. The Asian stocks were mostly lower today following a subdued lead from ... Read More »

Saurabh Agrawal is the Tata Sons’ Chief Finance Officer

Saurabh Agarwal, a veteran investment banker, was the strategy head of Aditya Birla Group. Tata Sons has roped in Aditya Birla Group strategy head Saurabh Agrawal as Group Chief Financial Officer of the salt-to-software conglomerate. Mr. Agarwal, a veteran investment banker with two decades of capital markets experience, will join Tata Sons with effect from July 2017, has worked on ... Read More »

China’s Xi Says Silk Road Plan Boosts Finance, Security Ties

Russian President Vladimir Putin, right, and Chinese President Xi Jinping, left, walk prior to the opening ceremony of the Belt and Road Forum in Beijing, Sunday, May 14, 2017. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP) (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP) BEIJING (AP) — Pledging more than $100 billion in financing, Chinese President Xi Jinping called ... Read More »