A part of Larsen and Toubro’s ₹9,000 crore worth of projects in Andhra Pradesh is at stake as the new government headed by Jaganmohan Reddy has decided to review all projects where less than 25% of the work has been completed.

Asked for comments, L&T MD & CEO S.N. Subrahmanyan said, “This initial way of looking over the previous regime slows down the progress.

State-owned telecom companies are incurring losses in providing high-speed Wi-Fi connections to members of Parliament, Union Minister for Communications and Electronics and Information Technology Ravi Shankar Prasad said.

As per data available with the Telecom Ministry till May 2019, Mahanagar Telephone Nigam Limited (MTNL) and Bharat Sanchar Nigam Limited (BSNL) have provided an aggregate of 757 Internet connections to members of Parliament.

Cash-strapped mortgage lender Dewan Housing Finance Company Limited (DHFL) is likely to submit a resolution plan that will offer a full and immediate repayment to all term- or fixed deposit holders in the company without any haircut, two people directly aware of the internal discussions told Mint requesting anonymity.

Maruti Suzuki - country’s largest passenger vehicle manufacturer - is expected to report subdued growth revenue and net profit in the first quarter of the current financial year as sales across segments declined by double digits.

The New Delhi based vehicle manufacturer will continue to see decline in revenue due to the high base in the corresponding period and 19% fall in sales in the April to June quarter.

Hyundai Motor India (HMIL) said it is working on a new platform to introduce mass market electric vehicles in India and is in talks with local vendors for supply of parts. The company has plans to launch such vehicles in two-three years.

A senior company official said it will have to invest a minimum of $200 million to set up this new platform for mass market EVs.

While Jeff Bezos’ Amazon, along with other big technology firms, faces regulatory scrutiny in the US and antitrust investigation in the European Union, the e-commerce giant has found another critic in American Treasury Secretary, who accused it of ruining the country’s retail industry. “If you look at Amazon, though there are certain benefits to it, they have destroyed the retail industry across the United States.

Bank of Baroda (BoB) on Thursday reported a 28% year-on-year rise in its consolidated net profit at Rs 826.13 crore for the June quarter of 2019-20 financial year. This is the lender’s first earnings announcement after it merged Dena Bank and Vijaya Bank with itself.

In the year-ago period, Bank of Baroda’s consolidated net profit was at Rs 645.71 crore.

Cairn India Holdings Limited (CIHL), an overseas subsidiary of Vedanta Ltd, will exit its entire investment in Anglo American Plc, Vedanta said on Friday.

In December 2018, Cairn India Holdings purchased an economic interest through a structured investment in equity shares of Anglo-American Plc from Volcan Investments for a total consideration of Rs 3,812 crore.

Tata Motors did far worse than expected in the June quarter, with a consolidated loss of Rs 3,680 crore.

Most brokerages had expected a loss of around Rs 2,000 crore. This is its fourth loss in five quarters, with sales volume down 21 per cent over the year-ago period.

SoftBank Group’s founder Masayoshi Son launched a second Vision Fund, seeking to extend his reign as the world’s most influential technology investor.

The Japanese conglomerate will commit $38 billion to Vision Fund 2 with the goal of raising a total of $108 billion, SoftBank said Friday. Apple Inc, Microsoft Corp, sovereign wealth fund of Kazakhstan and a number of Japanese finance companies are also expected to contribute capital, SoftBank said.

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