Microsoft, JPMorgan Chase and other corporate giants are joining forces to create a new kind of computing system based on the virtual currency network Ethereum.

Some 30 companies are set to announce on Tuesday the formation of the Enterprise Ethereum Alliance, which will create a standard version of the Ethereum software that businesses around the world can use to track data and financial contracts. The new organisation, a non-profit, is part of a broader movement to harness the technological concept known as the blockchain, which was introduced to the world by Bitcoin.

Adding on to the rising issue of fake notes getting dispensed from ATMs across the country, a man, on Tuesday withdrew Rs 500 notes without serial numbers from a State Bank of India ATM in Domah, Madhya Pradesh.

Last week, another State Bank of India ATM in New Delhi dispensed a fake Rs 2000 note bearing 'Children Bank of India' instead of Reserve Bank of India. Recently, another incident involving an ICICI Bank ATM had come to light.

Shares of Hindustan Petroleum Corporation Ltd (HPCL) tanked over 5% on the BSE on news reports the state-owned Oil and Natural Gas Corporation (ONGC) may acquire HPCL in an about Rs 44,000 crore deal as part of the government's plan to create an integrated oil giant.

Reacting to the buzz, the stock of HPCL shed 5% to Rs 531 in intraday trade on the BSE. Stock of Bharat Petroleum Corporation Ltd (BPCL) also slipped nearly 3% to Rs 670. ONGC was trading flat at Rs 194.

New Delhi, Feb 28 () The government has bailed out state-owned oil producers ONGC and Oil India from a potential liability of about Rs 22,000 crore in royalty dues to states like Gujarat and Assam.

The central government will pay two state-owned firms' outstanding liabilities of Rs 14,698 crore directly to the state governments, who will not insist on levy of Rs 7,223 crore interest on payments that were due from April 2008.

MUMBAI: German automaker Mercedes-Benz on Tuesday launched the long-wheelbase (LWB) version of the E-Class in India at a starting price of Rs 56.15 lakh (ex-showroom Mumbai). India is the only country in the world to get the right-hand drive version of the LWB E-Class.

In terms of features, the biggest selling point of the new E-Class is the class-leading rear legroom. Thanks to the extended wheelbase, the 2017 E-Class outshines all its rivals from BMW , Jaguar , Audi and Volvo in this respect. The newness doesn't end there.

Mumbai, Feb. 27: The market capitalisation of Reliance Industries Ltd (RIL) sprinted past the Rs 4-trillion-mark today as brisk buying saw the counter posting handsome gains of around 5 per cent.

On the BSE, the oil giant, which has now emerged as a disruptive force in the country's telecom sector, ended at Rs 1,238.60, a rise of Rs 56, or 4.74 per cent.

New Delhi: Railway minister Suresh Prabhu on Monday unveiled a new catering policy that holds Indian Railways’ catering unit responsible for a range of services and directs it to submit a business plan within a specified time frame, prescribing a penalty in case it fails to meet the deadline.

Under the Indian Railways Catering Policy 2017, the food production and distribution functions have been separated in an attempt to ensure that healthy and hygienic food is served on trains and railway platforms, following regular complaints against food quality.

Mumbai: The Securities and Exchange Board of India (Sebi) has started a special audit of 15 brokers who allegedly got unfair access to the algorithmic trading systems at the National Stock Exchange of India (NSE) to determine the extent of unlawful gains they may have made, according to three people with direct knowledge of the development.

These brokers have been named in an earlier Sebi investigation and also a forensic audit done by Deloitte India for NSE. It comes at a time when NSE has launched disciplinary proceedings against one of the 15, OPG Securities Pvt. Ltd. Mint is refraining from naming the other 14 since disciplinary proceedings haven’t been launched against them yet.

Mumbai: The Indian rupee was trading little changed against the US dollar in mid-day trade, ahead of the key gross domestic product (GDP) and fiscal deficit data due later on Tuesday.

At 2pm, the home currency was trading at 66.73, down 0.03% from its Monday’s close of 66.71. The local currency opened at 66.75 a dollar.

The BSE Sensex recovered about 51 points and the NSE Nifty scaled the 8,900-mark in early trade today as investors took to buying ahead of GDP data scheduled to be released later in the day amid firm global cues.

The 30-share index was trading higher by 50.53 points, or 0.18 per cent, to 28,863.41 with the sectoral indices led by consumer durables, capital goods, healthcare, metal, auto and banking trading higher by up to 0.58 per cent.

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