Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
Industry
Japanese regional banks up lending on auto, holiday spending
Japan's regional banks are enhancing unsecured retail lending as it offers high profit margins. Loans on mortgage and small firm borrowing are declining. Japan banks are suffering from ultra-low interest rate regime to increase revenues.
US Presidential elections, China economy setting tone for markets
Global markets have been moving in tandem with state of Chinese economy and US Presidential elections these days. After rebounding in the previous month, the global markets are waiting for next level triggers from US elections and stimulus plans on China's economy.
Intel mulls over selling $1-bln assets of venture capital unit
Intel Corp, one of the major manufacturer of computer components in the world, is planning to sell a part of its venture capital (VC) unit Intel Capital. The value of the part of assets to be offered for sale is estimated to be $1billion worth. UBS Group AG has been appointed to find out potential buyers for the sale of a part in venture capital unit.
US oil, natural gas drilling dropped lowest since 1940
The US drilling activity for oil and natural gas declined to record low since 1940 in the wake of weaker oil prices in the global markets. Oil firms are also reducing their spending budgets this year owing to adverse conditions in the markets
Latest News
China Banking Regulatory Commission (CBRC) has warned of risks from industrial overcapacity. CBRC has advised commercial banks and financial institutions to keep limits on lending exposure as it sees a need for setting up investment pilot projects and asset securitization to enhance cash flows.
Offering raw but pre-packed and pre-measured food ingredients and step-by-step recipes, meal-kit deliveries are getting more popular in the U.S. The country has seen an increase both in demands and the companies who offer such services.
Silicon Valley Bank report shows 59% of UK start-up heads chose to be acquired rather than seek IPOs. Many UK executives consider hiring labours to be more challenging than other business issues.
Up to now, there are not many parenting tech companies and products available while the market is growing. Winnie and Grow Parenting, built by Fisher-Price and Shakira are among the promising apps in that sector.
Bosch is seeking to transform itself from equipment manufacturers to service providers. The company has launched its own cloud computing network and is determined to develop its Internet of Things technology and software to be better.
Product management tool provider Propel has closed $4.2 million series A investment. Cloud Apps Capital Partners participated in the A series investment round for Propel.
Taco Bell launched its $1 breakfast menu nationwide aiming to surpass McDonald's "McPick 2". Taco Bell customers can order 10 food items for a dollar each including several additions.
Westlands Water District agreed to pay a fine of $125K to SEC for misguiding investors in Enron accounting transactions. While, Thomas Birmingham and Dave Ciapponi will pay $50K and $20K respectively.
China has decided to implement its stringent anti-pollution efforts despite slowing down of economy. China is propelling up economy growth without compromising on environment protection.
