India Inc urges government to boost demand through public spending and disinvestment. Ficci recommends major thrust on public capex in forthcoming Budget. CII suggests 20% increase in capital expenditure to Rs 12 lakh crore, urban employment guarantee program, and focus on labor-intensive sectors. Finance minister to present interim Budget on Feb 1.https://ift.tt/0ZcmEMb
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JPMorgan analysts state that JetBlue avoids a costly merger. The market value of Spirit's equity has dropped significantly. It is believed that JetBlue's management and board were no longer committed to the merger.
Airbus is set to sign an accord to establish an assembly line in India for the production of H125 civil helicopters. The line will be overseen by Tata Advanced Systems Limited. This agreement is expected to be announced during French President Emmanuel Macron's visit to India.
Zee Entertainment cancels USD 1.4 bn deal with Disney Star for TV broadcast rights. The company misses USD 200 million instalment and terminates USD 10 billion merger agreement with Sony. ZEEL approaches NCLT to enforce merger deal and contests Sony's USD 90 million claim before SIAC.
Russia calls for emergency UN Security Council session on the Russian plane crash during the prisoner exchange. Russia accuses Ukraine of shooting down the plane with an air defense missile, calling it a barbaric act of terrorism. Ukrainian military intelligence denies involvement and suggests Russia's accusations are a planned action to destabilize Ukraine.
Wipro founder Azim Premji gifted 10.2 million shares worth nearly Rs 500 crore to his sons, Rishad and Tariq. The transaction does not alter the overall promoter and promoter group shareholding in the company, which remains the same. As of December, Wipro promoters and the promoter group held 72.9% in the company.
