These are 5 biggest business stories of the day
1) GST will become a reality soon, says Arun Jaitley
Finance Minister Arun Jaitley on Thursday hoped that the opposition parties will "see reason" and the Goods and Services Tax (GST), which is held up in Rajya Sabha, will become a reality soon.
"It (GST) has been supported by most political parties and I am sure others will also see reason and this law will become a reality very soon," the minister said while inaugurating the two-day India Investment Summit... Read More
2) Emissions scandal: Volkswagen admits to NGT that emission by its cars is higher by 1.1 to 2.6 times
German auto major Volkswagen on Thursday apologised for the emission scandal in India and reiterated that its cars follow the country's norms and the recall of three lakh vehicles is a voluntary step taken it.
The company admitted to NGT that pollutant emission by its cars is higher by 1.1 to 2.6 times on road and that it will file reply by 26 February... Read More
3) Credit Suisse announces 4,000 job cuts on over Rs 39,000 crore net loss in Q4
Credit Suisse is cutting roughly 4,000 jobs to reduce costs after announcing a massive pre-tax loss in the fourth quarter that includes "substantial charges which are not reflective of our underlying business performance," the bank said on Thursday.
The Swiss banking giant posted a net loss of 5.83 billion Swiss francs ($5.8 billion, or Rs 39329.8 crore), compared to a net profit 691 million francs a year earlier. It reported a pretax quarterly loss of 6.4 billion, including a 3.8-billion-franc impairment charge linked to its acquisition of Donaldson, Lufkin & Jenrette investment bank in 2000...Read More
4) Govt to present rail budget on February 26, Union Budget on February 29
The Budget Session of Parliament will commence on February 23 that will focus largely on the financial business of the government, which will present the general budget on Feb 29. But there will be no curtailment of the session or the recess period on account of Assembly elections in five states due shortly.
This was decided at a meeting of the Cabinet Committee on Parliamentary Affairs, chaired by Home Minister Rajnath Singh... Read More
5) Bajaj Auto Q3 net profit rises 4.67% to Rs 901.5 crore
Bajaj Auto on Thursday reported 4.67% increase in net profit to Rs 901.49 crore for the third quarter (Q3) ended December 31, 2015-16. The company had posted a net profit of Rs 861.24 crore in the October-December quarter of the previous fiscal.
Net sales during the third quarter of the current fiscal were down 1.02% at Rs 5,463.2 crore, as against Rs 5,520.01 crore in the year-ago quarter, the company said in a BSE filing... Read More
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