European Union slams Google with a $2.7 bn antitrust fine
The Dollar Business Bureau Antitrust regulators of the European Union have come down heavily on Google by imposing a whopping $2.7 bn antitrust fine and warning the search engine leader it will take a tough line on two other cases too. The European Union Commission in a press release said, ‘the world's most popular internet search engine has 90 days to stop favouring its own shopping service or face a further penalty of up to 5% of Alphabet's average daily global turnover.’ This is one of the biggest fine that the EU has imposed on a single company after the $1.06bn antitrust fine that was handed to Intel in 2009. The release said that the Commission found during its investigations that the search engine ...
Demonetization had no impact on Q3 results: Jha, Powergrid
Sairaj Iyer If results posted by Powergrid corporation are analysed, the country’s premiere power grid ‘central transmission utility (CTU), felt no impact due to demonetization that began on November 8, 2016. On the contrary, the ‘CTU’ has posted a 20% increase in net-profit for Q3 (Oct-Dec 2016) for Rs. 1,930 crore as against Rs. 1,606 crore (Q3 Oct-Dec 2015). At a press conference in Mumbai, IS Jha, the Chairman and Managing Director, appraised the results, highlighting the corporation stock’s financials, performance, and meeting of growth targets. He agreed there could be concerns in the public that demonetization-linked receivables could have impacted the cash-flow for monthly payments. He explained, “I maintain that our customers are nice to us, and are offering timely ...
Centre softens norms to boost investment in food processing
The Dollar Business Bureau In an effort to boost investment in the food processing sector, the government has introduced some changes in its guidelines of the Mega Food Park scheme. The changes in guidelines, approved by the cabinet committee on economic affairs (CCEA), will streamline the setting up of modern food processing plants across the state. These modifications are expected to trigger further investment in the food processing sector and ensure smooth implementation of the Mega Food Parks scheme particularly, the projects that are at initial stages, a government statement said on Thursday. In March, the Centre had allocated the development of 17 Mega Food Parks across the country to at least 10 private companies and state governments. In 2008-09, ...
