BUSINESS TREND

EDITED BY DON MATHEWS GEORGE, B1532

Corporate Indias legal costs increase 17.5% in 2013-14 http://articles.economictimes.indiatimes.com/2014-09-27/news/54377138_1_tata-consultancy-services-law-firm-legal-matters |September 27, 2014

MUMBAI: More than 1,800 listed companies that the ET Intelligence Group has analysed have collectively spent about Rs 21,906 crore during the fiscal year through March 2014 on legal matters, a 17.5% jump over the previous year. According to the analysis, Reliance Industries continued to be the largest legal spender, with its expenses increasing 35% from a year earlier to Rs 1,184 crore. It has taken huge bets on the US shale gas business and is in the process of re-entering the telecom business through a slew of partnerships in a sector that's still a legal maze.

Federal bank sanctions Rs 500-cr term loan to CIAL http://profit.ndtv.com/news/corporates/article-federal-bank-sanctions-rs-500-crore-term-loan-to-cochin-international-airport-671698 | September 27, 2014

KOCHI: Federal Bank has sanctioned a term loan of Rs 500 crore to Cochin International Airport Ltd (CIAL) for the construction of the new International terminal. The private lender has been partnering the growth of Cochin international Airport from its inception, a press release here said. The New International Terminal, coming up next to the existing airport complex, would enhance the traffic handling capacity of the airport to meet its future requirements.

PM Modi's US Visit: India a profitable place to do business; will be easier too, says Official http://articles.economictimes.indiatimes.com/2014-09-26/news/54353411_1_manoj-joshi-rating-business I September 26, 2014 NEW YORK: "India has been ranked 134th on World Bank list of ease of doing business and Prime Minister Narendra Modi has said he wants to bring it up to at least 50," Manoj Joshi, Joint Secretary in Finance Ministry, told a group of US investors here.

'Bond King' Bill Gross quits Pimco for Janus www.reuters.com/article/2014/09/26/us-janus-billgross-idUSKCN0HL1DJ20140926 | September 26, 2014 NEW YORK: Bill Gross,70, the bond market's most renowned investor, quit PIMCO ,(Pacific Investment Management Company, LLC ) for distant rival Janus Capital Group Inc on Friday, the day before he was expected to be fired from the huge investment firm he co-founded more than 40 years ago. The surprise development, which rattled the U.S. bond market, came the day before Pimco and its parent, German insurer Allianz SE, planned to dismiss Gross, the source said.

Surge Soda's Facebook Fans Push Coca-Cola to Revive the Drink www.businessweek.com/articles/2014-09-25/surge-sodas-facebook-fans-push-coca-cola-to-revive-the-drink | September 25, 2014

NEW YORK: Surge is back, the Facebook page declared. A 12-pack of 16-ounce cans featuring the original logo sells for $14 exclusively on Amazon.com . According to Scott Williamson, a spokesman for Coke, the companys first e-commerce reintroduction is a gesture to Surges dedicated and persistent fans. Coca-Cola has discontinued Surge soda in 2001.

BUSINESS TREND

EDITED BY DON MATHEWS GEORGE, B1532

HMT Watches, Hindustan Cables among 6 PSUs to be shut down http://www.thehindubusinessline.com/economy/hmt-watches-hindustan-cables-among-6-psus-to-be-shut-down/article6446605.ece | September 25, 2014

NEW DELHI: We will spend over 1,000 crore just for once, but the burden will end forever, Heavy Industries and Public Enterprises Minister Anand Geete said in a press conference. The companies are: HMT Watches, HMT Barings, HMT Chinar Watch, Hindustan Photo Films, Hindustan Cables and Tungbhadra Steel. The Ministry plans to spend 1,080 crore towards one-time settlement through a voluntary retirement scheme for workers. The six companies have around 3,600 workers.

Yahoo buys Bangalore-based tech startup Bookpad for Rs 50 crore http://articles.economictimes.indiatimes.com/2014-09-22/news/54199237_1_little-eye-labs-bookpad-tech-startup | September 22, 2014

BANGALORE: Bangalore-based Bookpad has become the first Indian tech startup to be bought by Yahoo, going from creation to acquisition in just one year. The deal comes some eight months after Facebook snapped up Bangalore's Little Eye Labs.

Online will soon be the preferred route for buying property: Brotin Banerjee www.business-standard.com/article/companies/online-will-soon-be-the-preferred-route-for-buying-property-brotin-banerjee-114092100808_1.html September 22, 2014

MUMBAI: Tata Housing sells an apartment every two days through the online medium and expects at least 30 per cent of its sales to come from this platform in three to five years Brotin Banerjee, managing director and chief executive officer of Tata Housing . E-commerce is no longer limited to apparel, gadgets and white goods. Consumers are even buying houses over the internet. We are in the process of changing the way real estate has been sold. We expect online to emerge as one of the fastest growing channels for real estate sales. Besides, we are aiming to create new and innovative ways to reach the target audience.

SBIs education loans now come with credit cards http://www.thehindubusinessline.com/todays-paper/sbis-education-loans-now-come-with-credit-cards/article6432927.ece | September 21,

2014

MUMBAI: State Bank of India is offering credit cards (with a credit limit of Rs. 5,000 which is guaranteed by the parent) along with education loans to students to stay connected with them and to keep bad loans down. Indias largest bank is expecting the usage of the credit card and payment of dues by students to build up credit history, giving it a clue on the borrowers credit behaviour. SBI Chairperson Arundhati Bhattacharya said, We were having a lot of non-performing assets (NPAs) in education loans. So, now we have created a credit card along with the education loans.

BUSINESS TREND

EDITED BY DON MATHEWS GEORGE, B1532

GlaxoSmithKline Found Guilty of Bribery in China http://online.wsj.com/articles/glaxosmithkline-found-guilty-of-bribery-in-china-1411114817 | September. 19, 2014. BEIJING: GlaxoSmithKline PLC said a Chinese court found the drug maker's local subsidiary guilty of bribery and fined the company$489 million and given several executives suspended prison sentences for ordering the bribing of doctors and hospitals. For foreign companies in China, it shows their vulnerabilities to inside informants and to an opaque justice system ultimately controlled by the Communist Party, adding risk to the promise of China's growth potential.

Tech Mahindra to expand Saral Rozgar project in Gujarat http://www.business-standard.com/article/companies/tech-mahindra-to-expand-saral-rozgar-project-in-gujarat-114091900922_1.html |September 19, 2014

AHMEDABAD: After states like Haryana, UP, Rajasthan and West Bengal, Tech Mahindra, part of the USD 16.5 billion Mahindra Group, is set to expand its Saral Rozgar Job Card Initiative in Gujarat. While the same has begun in South Gujarat, the initiative will be expanded into other districts of the state. Saral Rozgar is a national initiative of Tech Mahindra under the Mobility Innovation and is currently available across 30,000 retail (PoS) including mobile recharge shops and FMCG kirana outlets and already has around two million job seekers registered under Saral.

TriZetto buy to bolster Cognizant's health care business http://www.business-standard.com/article/companies/trizetto-buy-to-bolster-cognizant-s-health-care-business-114091700009_1.html September 17, 2014

CHENNAI/BANGALORE: Cognizant on Monday charged the otherwise sleepy mergers and acquisition (M&A) market in information technology (IT) services, announcing an agreement to buy US-based TriZetto for $2.7 billion, almost four times the acquired company's revenue in 2013. While the valuation looks high, analysts and experts said TriZetto's services to niche segments and its superior productivity delivered more to Cognizant than was immediately evident.

China August factory growth slows to near six-year low, calls grow for more stimulus http://www.reuters.com/article/2014/09/13/us-china-economy-activity-idUSKBN0H803U20140913 | September 13, 2014

BEIJING: China's factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled, raising fears the world's second-largest economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures. The output data, combined with weaker readings in retail sales, investment and imports, pointed to a further loss of momentum as the cooling housing market increasingly drags on other sectors from cement to steel and saps consumer confidence.

MUMBAI: More than 1,800 listed companies that the ET Intelligence Group has analysed have collectively spent about Rs 21,906 crore during the fiscal year through March 2014 on legal matters, a 17.5% jump over the previous year. According to the analy...PM Modi's US Visit: India a profitable place to do business; will be easier too, says Officialhttp://articles.economictimes.indiatimes.com/2014-09-26/news/54353411_1_manoj-joshi-rating-business I September 26, 2014NEW YORK: Bill Gross,70, the bond market's most renowned investor, quit PIMCO ,(Pacific Investment Management Company, LLC ) for distant rival Janus Capital Group Inc on Friday, the day before he was expected to be fired from the huge investment firm ...Surge Soda's Facebook Fans Push Coca-Cola to Revive the Drink www.businessweek.com/articles/2014-09-25/surge-sodas-facebook-fans-push-coca-cola-to-revive-the-drink | September 25, 2014NEW YORK: Surge is back, the Facebook page declared. A 12-pack of 16-ounce cans featuring the original logo sells for $14 exclusively on Amazon.com . According to Scott Williamson, a spokesman for Coke, the companys first e-commerce reintroduction...HMT Watches, Hindustan Cables among 6 PSUs to be shut down http://www.thehindubusinessline.com/economy/hmt-watches-hindustan-cables-among-6-psus-to-be-shut-down/article6446605.ece | September 25, 2014Yahoo buys Bangalore-based tech startup Bookpad for Rs 50 crore http://articles.economictimes.indiatimes.com/2014-09-22/news/54199237_1_little-eye-labs-bookpad-tech-startup | September 22, 2014Online will soon be the preferred route for buying property: Brotin Banerjee www.business-standard.com/article/companies/online-will-soon-be-the-preferred-route-for-buying-property-brotin-banerjee-114092100808_1.html September 22, 2014SBIs education loans now come with credit cards http://www.thehindubusinessline.com/todays-paper/sbis-education-loans-now-come-with-credit-cards/article6432927.ece | September 21, 2014MUMBAI: State Bank of India is offering credit cards (with a credit limit of Rs. 5,000 which is guaranteed by the parent) along with education loans to students to stay connected with them and to keep bad loans down. Indias largest bank is expecting...GlaxoSmithKline Found Guilty of Bribery in China http://online.wsj.com/articles/glaxosmithkline-found-guilty-of-bribery-in-china-1411114817 | September. 19, 2014.China August factory growth slows to near six-year low, calls grow for more stimulus http://www.reuters.com/article/2014/09/13/us-china-economy-activity-idUSKBN0H803U20140913 | September 13, 2014