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Paytm Mall ropes in EY to investigate cashback row; plans to build tech-driven fraud prevention system
Business

Paytm Mall ropes in EY to investigate cashback row; plans to build tech-driven fraud prevention system

Paytm Mall said it continues to "de-list fraud merchants and take strict action wherever needed".

E-commerce, consumer internet companies raised over $7 billion in private equity and venture capital funding in 2018: EY
Business

E-commerce, consumer internet companies raised over $7 billion in private equity and venture capital funding in 2018: EY

Of all companies, startups like OYO, Swiggy, Byjus, PayTm Mall, Pine Labs, Zomato, Udaan, PolicyBazaar and CureFit have collectively raised the lion's share around $4.6 billion

ICRA downgrades crisis-hit Jet Airways' credit rating; lenders seek details on root cause of financial stress
Business

ICRA downgrades crisis-hit Jet Airways' credit rating; lenders seek details on root cause of financial stress

Jet Airways is in discussions with the State Bank of India for raising Rs 1,500 crore short-term loan to meet its working capital requirement and some payment obligations.

Jet Airways in talks with SBI for Rs 1,500-cr short-term loan; Etihad likely to provide guarantee
Business

Jet Airways in talks with SBI for Rs 1,500-cr short-term loan; Etihad likely to provide guarantee

Jet Airways is facing cash drought with its financials in perils. Promoter Naresh Goyal is looking to infuse capital in a manner where he does not have to lose control of the airline which he set up 25 years ago.

With new accounting norms, top companies may recognise additional assets, liabilities worth Rs 1 lakh cr: EY
Business

With new accounting norms, top companies may recognise additional assets, liabilities worth Rs 1 lakh cr: EY

Leading consultancy EY has analysed the possible impact of Indian Accounting Standard (Ind AS) 116 mainly on the top 100 companies listed on the BSE.

Corporate India announces over 7-fold jump in M&A deals worth a whopping $34.8 bn in June quarter: EY report
Business

Corporate India announces over 7-fold jump in M&A deals worth a whopping $34.8 bn in June quarter: EY report

The biggest deal in June quarter 2018 was the $16 billion acquisition of Flipkart by Walmart Inc, which accounted for 46 percent of the total disclosed deal value, EY said.

37 initial public offerings garner $1.2 billion in April-June; total proceeds in H1 2018 hit $4 billion: EY report
Business

37 initial public offerings garner $1.2 billion in April-June; total proceeds in H1 2018 hit $4 billion: EY report

32 initial public offerings in SME markets raised $98.7 million and five in the main market raised $1.1 billion in the second quarter this year

Fund inflows from private equity and venture capitalists jump 46% in H1, cross $15 billion: EY report
Business

Fund inflows from private equity and venture capitalists jump 46% in H1, cross $15 billion: EY report

H1 saw 36 large deals worth $11.5 billion, which were mostly buyouts, making such deals the highest ever at $4.9 billion, a report by EY said

Tata Steel-Thyssenkrupp joint venture to boost steel business sustainability: EY
Business

Tata Steel-Thyssenkrupp joint venture to boost steel business sustainability: EY

With Tata Steel clinching joint venture (JV) with Thyssenkrupp to create new European steel giant, the combined strength would enhance the sustainability of steel business, EY on Monday said

Microsoft, EY launch blockchain-based solution for DRM and managing royalties
News & Analysis

Microsoft, EY launch blockchain-based solution for DRM and managing royalties

Blockchain will streamline costly and time-consuming processes in entertainment rights and royalties.

KPMG audits show 'unacceptable deterioration', to be first to undergo special supervision, says UK accounting watchdog
Business

KPMG audits show 'unacceptable deterioration', to be first to undergo special supervision, says UK accounting watchdog

The Financial Reporting Council (FRC) said the Big Four auditors - which also include PwC, EY and Deloitte - must act swiftly to reverse the decline in this year’s audit inspection results if they are to hit targets set by the watchdog.

Govt must include cybercrimes in the charter of committee for phone frauds: Report
News & Analysis

Govt must include cybercrimes in the charter of committee for phone frauds: Report

The report calls for strong bilateral agreements on cybercrime investigations, information sharing, intelligence among others.

Some Indian firms acknowledge widespread bribery, corruption in business: EY survey
Business

Some Indian firms acknowledge widespread bribery, corruption in business: EY survey

As many as 50 corporates from India participated in the survey, of which 20 respondents said there is widespread bribery and corruption in business.

Over 1.7 lakh e-way bills generated on 1 April but real test begins today, say experts
Business

Over 1.7 lakh e-way bills generated on 1 April but real test begins today, say experts

Touted as an anti-evasion measure, the e-way bill help boost tax collections by clamping down on trade that currently happens on cash basis.

Professionals prefer Indian companies like Flipkart, Paytm instead of Google, Amazon: LinkedIn report
News & Analysis

Professionals prefer Indian companies like Flipkart, Paytm instead of Google, Amazon: LinkedIn report

Amazon is now ranked fourth in the list after the top three companies — Directi, Flipkart and One97 Communications.

South Korean chat app called Blind is stirring the country's #MeToo movement
News & Analysis

South Korean chat app called Blind is stirring the country's #MeToo movement

Koreans are wary of being whistleblowers about harassment at family-run conglomerates or chaebol that dominate South Korean business.

Rate of adoption of financial technologies in India exceeds global average: EY Report
News & Analysis

Rate of adoption of financial technologies in India exceeds global average: EY Report

India has the second highest FinTech adoption rate among digitally active consumers at 52 percent, only second to China at 69 percent.