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EU fines German car makers $1B over emission collusion

by | Jul 8, 2021 | , , , ,

EU antitrust chief Margrethe Vestager said that even though the companies had the technology to cut harmful emissions beyond legal limits, they resisted competition and denied consumers the chance to buy less polluting cars.

”Manufacturers deliberately avoided to compete on cleaning better than what was required by EU emission standards. And they did so despite the relevant technology being available,” Vestager said. That made their practice illegal, she said.

India invites UK companies to invest in insurance sector

by | Jul 8, 2021 | , , , , ,

The Dialogue saw government-to-government discussions to strengthen cooperation on four key themes: Gujarat International Finance Tec (GIFT) City; banking and payments; insurance, and; capital markets. It was led by senior officials from the UK Treasury and the Indian Ministry of Finance, with participation from independent British and Indian regulatory agencies, BHC said.

Yamuna pollution: Rs 12 cr fine imposed on 12 CETPs for not meeting wastewater standards

by | Jul 8, 2021 | , , , ,

Untreated wastewater and poor quality of effluent discharged from CETPs and sewage treatment plants is the major reason behind pollution in the river in Delhi, according to experts. These 12 CETPs are in industrial areas in Jhilmil, Badli, Mayapuri, Mangolpuri, Nangloi, Okhla, Narela, Bawana, Naraina, GTK Road, Keshav Puram. These CETPs do not comply with the requisite standards with respect to biological oxygen (30 mg/litre), total dissolved solid (2,100 mg/l), sulphate (1,000 mg/l), Sulphide (2 mg/l) etc.

Chinese nationals step down from Paytm board ahead of planned IPO; no change in shareholding

by | Jul 7, 2021 | , ,

Paytm shareholders include Alibaba’s Ant Group (29.71 per cent), SoftBank Vision Fund (19.63 per cent), SAIF Partners (18.56 per cent) and Vijay Shekhar Sharma (14.67 per cent). AGH Holding, T Rowe Price, Discovery Capital and Berkshire Hathaway hold less than 10 per cent stake each in the company.

The development comes at a time when Paytm is gearing up for public listing.

E-commerce boom to double India warehouse deals, says Knight Frank

by | Jul 7, 2021 | , ,

The e-commerce segment will take up 165% more space in Indian warehouses over the next five years while third party logistics and other sector companies are expected to take up 56% and 43%, respectively, Knight Frank forecasts.

Warehousing transactions in the top eight Indian cities fell 23% to 31.7 million square feet in the 12 months ended March from a year earlier. Rent growth was also challenged as occupiers negotiated hard amid a surge in coronavirus infections and lockdowns.

COVID-19: India logs 43,733 new cases

by | Jul 7, 2021 | , , , ,

The ministry also said that cumulative vaccine doses administered so far has reached 36.13 crore under the Nationwide Vaccination Drive.

A total of 4,04,211 deaths have been reported so far in the country including 1,23,531 from Maharashtra, 35,526 from Karnataka, 33,132 from Tamil Nadu, 25,001 from Delhi, 22,656 from Uttar Pradesh, 17,834 from West Bengal and 16,131 from Punjab.

Woman’s rights over deceased husband’s property cease if remarriage proven: Chhattisgarh HC

by | Jul 7, 2021 | , ,

” ..The effect of the valid remarriage is the widow losing her right in the property inherited from the previous husband. Therefore, where remarriage is set up as defence, it has to be strictly proved looking to devastating consequences to be befallen upon the widow in the shape of depriving her the right to property,” it said.

Brutal Summer’s record-high temperatures flare up extreme events in Northern Hemisphere

by | Jul 7, 2021 | , , , ,

Extremes are piling up in what’s poised to be a brutal summer as the planet warms. Climate change is intensifying many unusual weather patterns to the point that scientists are able to detect its influence nearly in real time. That’s been the case during the heatwave that’s boiled Canada and the U.S. northwest this season, as well as the heatwave that hit Siberia last year.

Lawsuits are becoming increasingly common as consumers shop online with little understanding

by | Jul 7, 2021 | , , ,

“Within the last year, especially with Covid-19 and more consumers shopping online, counterfeiters have gotten really smart and taken advantage of that,” said Tiffany Pho, manager of anti-counterfeiting at the International Trademark Association.The association has projected that, by next year, the total estimated value of counterfeit goods including digital piracy will reach at least $1.9 trillion annually. Internet sales are particularly popular because the counterfeiters can have a more global reach and more ways to hide, Pho said.

Saudis may work longer, pay more to Kingdom’s pension fund: Report

by | Jul 7, 2021 | , , , , ,

The government — faced with an estimated actuarial gap of 800 billion riyals ($213 billion) at the state-controlled pension fund — is weighing proposals to increase the retirement age, according to three people familiar with the matter, who asked not to be identified to discuss confidential deliberations. It could also require workers to contribute more of their salaries to the General Organization for Social Insurance, or GOSI, which manages both public and private sector pensions, the people said.

Global financial regulators attempt to align rules on climate risks

by | Jul 7, 2021 | , , , , , ,

The Financial Stability Board (FSB), which coordinates financial rules for the G20 group of nations, said its “roadmap” seeks to coordinate approaches to disclosures by companies and plug gaps in the data needed to spot financial stability “vulnerabilities” and develop tools to address them.

The roadmap attempts to align rules still in the planning stage between now and 2023 to avoid more divergences between various measures for the same activity.