MUMBAI: British American Tobacco (BAT) defeated a special resolution to grant stock options to employees of ITC and its subsidiaries in a move that rekindled memories of the battle for control between the overseas shareholder and the Indian company’s management that raged two decades ago.

US automaker Ford -- which announced a major restructuring in July -- unveiled plans Friday to reduce its workforce worldwide, without specifying the extent of the plan.

"We are in the early stages of reorganizing our global salaried workforce to support the company's strategic objectives, create a more dynamic and empowering work environment, and become more fit as a business," Ford said late Friday.

A Delhi court Saturday granted bail to RJD chief Lalu Prasad's wife Rabri Devi and son Tejashwi Yadav and others in an Indian Railway Catering and Tourism Corporation (IRCTC) scam case lodged by the CBI.

Special Judge Arun Bhardwaj also granted interim bail till November 19 to Rabri Devi, Tejashwi Yadav and others in a money laundering case filed by Enforcement Directorate (ED) in relation to the alleged scam.

Coal India (CIL) has approved the performance linked reward of Rs 60,500 for its non-executive employees against the company’s performance in FY18.

The decision was taken by the company’s standardisation committee on Friday.

BMW Group India on Friday said that it continues its momentum with a double-digit growth so far this year. The company has delivered 7,915 cars (BMW + MINI) to customers in the nine-month period of January-September 2018, registering a growth of 11% over the same period last year.

The government’s decision to curtail marketing margins on auto fuels by Rs 1/liter brings to fore the earnings uncertainty for oil PSUs, associated with an environment of higher crude prices amid the government’s socio-economic compulsions.

We reiterate our negative stance on OMCs, while seeing a possibility of further curtailment of profitability given the rising ask-rate of fuel prices hikes amid higher crude and a weaker rupee.

The GST on ghee and butter is hurting the dairy industry and farmers alike and they want the rates to be reduced. The GST on butter and ghee is at 12%.

Dairy industry representatives have drew the government’s attention to this issue wanting an immediate reduction as it could break the back of the industry.

The Securities and Exchange Board of India (Sebi) has asked the stock exchanges to look into the steep fall in shares of several companies over the past month.

According to sources, the regulator suspects large stock market operators could be behind the hammering, perhaps in connivance with company promoters.

Private lender YES Bank, which recently formed a committee to search for a successor to its managing director and chief executive officer Rana Kapoor, will have two external members in the panel — T S Vijayan, former chairman of the Insurance Regulatory and Development Authority of India and O P Bhatt, former chairman and managing director of State Bank of India.

The private bank disclosed this to the stock exchanges in a filing on Friday.

KOLKATA: The Department of Telecommunications (DoT) is preparing to open up new bands to support 5G services.

It will shortly seek suggestions from the telecom regulator on the suitability of the 28 GHz band for 5G commercial deployments, along with its views on pricing such airwaves, said people aware of the matter.

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