Money

The Reserve Bank of India, Enforcement Directorate, the Economic Offences Wing of the Mumbai Police and administrators of PMC Bank have formed a coordination team to expedite action in the PMC Bank case.Today, RBI Governor Shaktikanta Das, ED Director Sanjay Kumar Mishra, Mumbai Police Commissioner Sanjay Barve and PMC Bank Administrator JB Bhoria today met at the RBI headquarters to discuss next steps in the case.The PMC Bank case came to light after it emerged that realtor HDIL owed the bank Rs 4,355 crore, and the RBI restricted withdrawals from the bank to prevent a run on it.Close HDIL took loans from PMC Bank well in excess of regulatory limits, and actions since the scam broke out have uncovered instances of money laundering, siphoning and fraud. related news PMC Bank case: Former BJP MLA's son arrested SC dismisses ED plea challenging bail to Shivakumar in money laundering case Mumbai Police arrest two auditors in PMC Bank scam case With a view to returning money to … [Read more...] about PMC Bank scam: RBI, others move closer to selling HDIL land to return depositor money

London (CNN Business)Happy Monday. A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. For investors that count on income from dividends, 2017 and 2018 were blockbuster years. Payouts jumped 8% and 9.8%, respectively — hitting record highs. But as the global economy has slowed, dividend growth has come back down to Earth. "We have been cautioning investors all year that the rapid income growth they have enjoyed over the last couple of years was set to return to more normal levels," asset manager Janus Henderson said in a report released Monday. The firm found that softness in the global economy is beginning to hit corporate earnings, and thus dividends. The trend began in the second quarter and seeped into the third. While the firm hasn't finalized its 2020 outlook, it expects more of the same next year. Read More "We've just got a very low growth, lackluster economic environment," Jane Shoemake, … [Read more...] about The easy money boom is now coming to an end

Mumbai: Filmmaker-choreographer Farah Khan does not agree with the view that Bollywood is a male-dominated industry. She says whoever brings in big money here can become a superstar. Farah revealed her opinion at the launch of Kaveree Bamzai's book "No Regrets: The Guilt-Free Woman's Guide To A Good Life". "It's about who brings in maximum money," Farah explained, underlining her opinion that power equations in Bollywood were not gender-specific. She added: "You have to blame rest of the country for that, because who patronises the movies? It's not the industry. It's the country and people who want to go and see the movies. So, whoever brings in the biggest money will be the biggest superstar. The minute women start bringing in the big bucks, they will be the superstars. It's a business model. I think at some point, women might rule the industry. In last 30 years, a lot has changed." Farah Khan started her Bollywood journey as a choreographer for the Aamir Khan-starrer "Jo … [Read more...] about Farah Khan: B’wood Isn’t Male-Dominated; It’s About Who Brings In Money

        Paytm’s valuation has jumped 25% to $15 billion in the latest investment round that saw several employees cash out their shares worth $150 million, founder Vijay Shekhar Sharma said.“Esops (employee stock ownership plan) worth $150 million were sold by Paytm’s employees to New York-based investors nearly three months ago, valuing the company at $15 billion,” Sharma said in an interview. He, however, did not disclose the names of the investors. Paytm, owned by One97 Communications Ltd, does not aim to raise funds this year.Paytm was valued at $12 billion a year ago when Warren Buffett-controlled Berkshire Hathaway invested an undisclosed sum in the company. Although One97 did not disclose details of the deal, regulatory documents sourced from Paper.vc showed Berkshire had pumped in $300 million.“Paytm is contribution positive, meaning that we are spending money only to acquire new merchants and customers. Merchants pay us, … [Read more...] about Paytm says valuation rose 25% to $15 billion

US businesses now get extra couple of months to shift their supply chains out of China and US consumers do not have to face the inflationary effects of that tariff kicking in, Michael Every, Head of Financial Markets Research Asia-Pacific, Rabobank International, tells ET Now. Edited excerpts: What do you make of the G-20 trade talk outcome? Is it a little more positive than expected? No totally fake. Anyone who thinks anything substantial was agreed here has no understanding of what was actually said in the meeting. Just look at the Chinese media release versus the US media release. China is flagging the fact that the tariffs do not go up to 25% on January 1,st which is a good thing admittedly, but they are ignoring the fact that the US have insisted China start buying US agri and energy and other products in volume immediately, which takes away China’s one lever against the US. Second, the US has said that China now has 90 days to address all the trade issues that the US … [Read more...] about Trump-Xi truce makes for a nice Christmas but be ready for hangover next year: Michael Every, Rabobank International

Michael Every, Head of Financial Markets Research Asia-Pacific, Rabobank International, says sensible money is going into cash and may be some bonds.Edited excerpts: Asian markets were a mixed lot. The European equities opened slightly higher. The tariffs are coming into play – the largest trade war -- as defined by China. A lot of activity is coming out of Europe as well. Are we seeing a case for exposure to equities being reduced and all that money flowing into commodities? Or is it the other way round? I do not think it is a feasible argument for equities or commodities. If we are actually going to see a global trade war, remember, today only the first bullet was fired. If you believe that it is only going to be one bullet, then perhaps you might want to think that both commodities and equities look cheaper. But if you think that there is a lot more to come and one bullet will be followed by many, I cannot see a logical reason why you would buy either. What about the … [Read more...] about Trade war? Stay out of both equity and commodity: Michael Every, Rabobank International