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Persons: It's, We've, Ally, You'll Organizations: First, Bank of Indiana, Bank of Indiana Free Savings, Internet Bank of Indiana, Market, First Internet Bank of Indiana's, Bank of Indiana Free, Internet Bank of Indiana Free Savings, FDIC, Plus Alliance, Network, First Internet Bank of Indiana, Alliance, Apple, Google, Internet Bank, Indiana, Better, Bank of, Ally Bank, Discover ® Bank, Discover Locations: Chevron, Bank of Indiana

☆ 'Reasonable sense' that consumption in India will rebound, economist says
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Reasonable sense' that consumption in India will rebound, economist saysKrishna Bhimavarapu, Asia-Pacific economist at State Street Global Advisors, shares his prediction on when the Reserve Bank of India will cut interest rates.

Persons: Krishna Bhimavarapu Organizations: State Street Global Advisors, Reserve Bank of Locations: India, Asia, Pacific, Reserve Bank of India

☆ India’s EV conundrum: To invest in cars or charging points first
▼ + stars: | 2024-09-13 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

A little over two years after the switch, Fernandes regrets her decision: "I'll never ever buy an electric vehicle again." "A 4India’s EV conundrum: To invest in cars or charging points first0% charge should easily take me for another 40km, but it dropped to 0% within 5km," Fernandes said. In India, "Range anxiety" remains a significant hurdle preventing drivers from making the transition from internal combustion engine to EV cars, analysts said. "Charging infrastructure in India's electric vehicle market is still not fully developed, but companies want more vehicles on the road before they invest more. As of August 2023, Tata Motors dominated 72% of India's EV market, followed by MG Motors with with a 10.8% share.

Persons: Carmelita Fernandes, Fernandes, Brajesh Chhibber, Chhibber Organizations: Tata Nixon, CNBC, Bain & Company, McKinsey India, Tata Motors, MG Motors, Mahindra & Mahindra, Citroen, Hyundai, Kia Locations: Indian, Pune, India, Bombay, Maharashtra, Mumbai, Goa, Canalys

She has pushed conspiracy theories about undocumented immigrants registering to vote in November, and she touted the baseless story about Haitian immigrants eating cats. On Wednesday, Rep. Marjorie Taylor Greene, R-Ga., called for Loomer to delete an “extremely racist” post targeting Vice President Kamala Harris. “This does not represent President Trump. Greene has promoted antisemitic conspiracy theories and made controversial remarks about the Holocaust, comparing mask mandates to the Holocaust before later apologizing. She also previously expressed support for the far-right conspiracy theory QAnon and been criticized for a series of racist comments.

Persons: Donald Trump, Laura Loomer, Trump, Sen, JD Vance, Loomer, Kamala Harris, Joe Biden, Harris, Taylor Swift, Travis Kelce, Marjorie Taylor Greene, MAGA, ” Greene, ” Harris, Greene, George Floyd Organizations: Wednesday, Trump, NBC News, NBC Locations: New York, Manhattan, Ohio

☆ CNBC's Inside India newsletter: What happens when the Fed cuts rates?
▼ + stars: | 2024-09-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Historically, a rate cut has been a signal for central banks in emerging markets, like India, to follow by easing monetary policy in their regions. The latest data shows that the inflation rate appears to be heading in the wrong direction in India. The headline inflation rate rose in August to 3.65% compared to 3.6% in the previous month. Instead, markets have simply hit snooze on a rate cut by the Reserve Bank of India for the moment. If there's no global recession, a risk-on sentiment will likely help push up emerging market equities in the medium term after the U.S. central bank cuts rates.

Persons: Shah, Mahesh Nandurkar, Surendra Goyal, CNBC's, BofA, Banks Organizations: Federal, Reserve Bank of India, Reserve Bank, Capital Economics, India, greenback, Federal Reserve, Jefferies, Bank of America, Citi, India Research, Bank Locations: India, U.S

Following Donald Trump’s lead, Johnson has tied a six-month funding bill to the SAVE Act, which would overhaul voting laws to require people to show proof of citizenship when registering to vote. Senate Majority Leader Chuck Schumer, D-N.Y., Democrats and some Republicans are pushing for a “clean” funding bill that would keep the government open until December, after the election. The government will shut down at 12:01 a.m. on Oct. 1 unless Republicans and Democrats strike a deal to extend funding. Because of their miniscule majority, House Republicans can only afford four GOP defections if all lawmakers vote. “I’m a firm NO on bankrupting the nation and a YES on election integrity,” Mills said.

Persons: Mike Johnson’s, Donald Trump’s, Johnson, Chuck Schumer, Joe Wilson, Cory Mills, Jim Banks, Matt Rosendale, Andy Biggs of, Tim Burchett, “ I’ve, ” Burchett, ” Mills, Trump, don’t Organizations: WASHINGTON, SAVE, Democrats, Republicans, GOP, CRs, Armed Services, Foreign Affairs Locations: Cory Mills of Florida, Jim Banks of Indiana, Matt Rosendale of Montana, Andy Biggs of Arizona, Tennessee, ”, China

☆ Internet suspended in parts of India’s Manipur as students clash with police
▼ + stars: | 2024-09-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

GUWAHATI, India — Internet and mobile data services were suspended for five days and an indefinite curfew imposed in parts of India’s northeastern state of Manipur on Tuesday after student protests over continuing ethnic strife turned violent. Police say they suspect that the drones were used by Kuki militants, a claim denied by Kuki groups. Protesters threw stones and plastic bottles in front of the main gate of the state governor’s residence, police said in a statement. As protests spilled over into Tuesday, the local government imposed a curfew in the Imphal Valley and surrounding districts and suspended internet services in five valley districts. Authorities shut down the internet in Manipur last year, in one of India’s longest enforced outages.

Persons: “, ”, Narendra Modi’s, Modi Organizations: Police, Kuki, Protesters, Government, Authorities, Indian, Narendra Modi’s Bharatiya Janata Party, BJP Locations: GUWAHATI, India, Manipur, Kuki, Imphal, Myanmar, Thoubal

☆ The guy who sold his Miami mansion to Jeff Bezos for $79 million is really angry he didn't charge more for it
▼ + stars: | 2024-09-11 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

Read previewLeo Kryss sold Jeff Bezos a $79 million Miami mansion. Kryss, the cofounder of Brazilian toy company Tectoy, had listed his seven-bedroom mansion on Indian Creek Island, Miami, for $85 million in May 2023, Business Insider previously reported. After Kryss sold his mansion for $79 million — $6 million below its list price — he learned that the buyer was, in fact, connected to Bezos. Kryss is suing Douglas Elliman, which received a commission of over $3 million for handling the property sale. Bezos owns three properties on the island, with the latest purchased in April for $90 million.

Persons: —, Leo Kryss, Jeff Bezos, Kryss, Bezos, Jay Parker, Douglas Elliman, Douglas Elliman's Parker, Benny Klepach, Celine, Celine Klepach, Danny Hertzberg, Tom Brady, Jared Kushner Organizations: Service, Wall, Business, Wall Street Journal, Miami, Elliman, Coldwell Banker, Zillow, BI Locations: Miami, Florida, Dade County, Indian, Biscayne

WASHINGTON — Despite mounting opposition from his own party, Speaker Mike Johnson, R-La., vowed Tuesday to stay the course and put his government funding package on the House floor on Wednesday. His initial strategy to avert a government shutdown at the end of the month is expected to fail and deal House Republicans an embarrassing blow. Due to their paper-thin majority, Republicans can afford only a handful of GOP defections on the vote, and many more than that have publicly voiced their opposition. “I am in this to win this,” Johnson told reporters at his weekly news conference. Afterward, the speaker added: “We are going to put the SAVE Act and the CR together, and we’re going to move that through the process.

Persons: Mike Johnson, Donald Trump, Johnson, “, ” Johnson, ”, Jim Banks, Cory Mills, Matt Rosendale, Montana —, Mills, Dan Meuser, ” Meuser, “ Shutdowns, Sen, Thom Tillis, Bill Cassidy, “ I’m, ” Cassidy Organizations: SAVE, Democratic, White, GOP, Republicans Locations: WASHINGTON, Jim Banks of Indiana, Florida, Montana, Mexico

The area, nearly all white 20 years ago, has since begun to teem with South Asian life. That energy is mirrored throughout the South Asian American electorate. Michigan is one of only five states with a South Asian member of Congress, Democratic Rep. Shri Thanedar, and Sawni says she’s ready to see a South Asian person in the White House, too. “South Asian voters and Indian Americans in particular are among the fastest-growing segments of the electorate,” he said. On a local scale, experts say more South Asian Americans are running for office than ever before.

Persons: Kannan Udayarajan, ”, Shekar Narasimhan, “, Kamala Harris ’, Chintan Patel, Harris, Karthick Ramakrishnan, It’s, ” Udayarajan, Udayarajan, “ Kamala Harris’s, it's, Walz, Andrew Peng, Harris ’, Shri Thanedar, Sawni, Joe Biden’s, Biden, Trump, Tanjina, ” Islam, ’, President Trump, Steven Cheung, Ramakrishnan, “ They’re, ” Narasimhan, J.J, Abbott, “ Kamala, Yagnesh Choksi, Kamala, don’t, they’ve Organizations: American, South, Indian, South Asian, Community, AAPI, “, Democrats, Harris, Democratic Party, Pew Research Center, NBC News, Mexicans, Michigan, Democratic, Trump Locations: Forsyth County , Georgia, Georgia, Michigan, Pennsylvania, U.S, Indian, South, Forsyth County, Forsyth, Asian, Gaza, Tanjina Islam, “

WASHINGTON — House Speaker Mike Johnson’s strategy to tie a short-term government funding bill to a Donald Trump-backed proposal to overhaul voting laws was on life support Monday after a band of conservative rebels vowed to vote no on the package. Without a stopgap funding bill, money will run out and the federal government will shut down at the end of the month. Because of the GOP’s razor-thin majority, Johnson, R-La., can afford only four Republican defections if all members vote. Mills slammed Johnson's strategy as a “farce” and said it would do nothing to secure the southern border. Instead, they are pushing for a "clean CR" — short-term funding with nothing attached to it.

Persons: Mike Johnson’s, Donald Trump, Johnson, — Cory Mills, Matt Rosendale, Tim Burchett, Jim Banks, Thomas Massie, Trump, Mills, ”, ” Mills, Rosendale, “, Chuck Schumer, Joe Biden, ” Schumer, Jamie Raskin, ” Raskin, … Donald Trump Organizations: WASHINGTON, Republicans, White, Capitol, Senate, GOP, House, Republican, “, ” Locations: Florida, Montana, Tennessee, Indiana, Kentucky

☆ Hundreds of workers strike at major Samsung factory in India
▼ + stars: | 2024-09-10 | by ( Story Reuters | ) edition.cnn.com time to read: +4 min

Production at a key Samsung Electronics plant in southern India was disrupted by hundreds of employees striking for higher wages on Tuesday, as top executives sought to resolve a rare episode of labor unrest. Posters saying “Indefinite Strike” went up outside the factory near the city of Chennai, where hundreds of workers in company uniforms set up tents to shade themselves from the heat. People shop inside a store selling Samsung mobile phones and electronics at Mumbai, India on March 6, 2023. A spokesperson for Samsung India said on Monday that it actively engaged with workers “to address any grievances they may have and comply with all laws and regulations.”Around 800 workers signed a register outside the factory to record their protest. One poster outside the factory exhorted state labor officials not to support management, advising instead: “Discuss and solve demands from the labor union with union officials.”

Persons: E, Muthukumar, Francis Mascarenhas, Veera Raghava Rao, “, ”, Prabhu Ram Organizations: Samsung Electronics, Samsung, India’s, LG Electronics, Reuters, Centre of Indian Trade Unions, Samsung’s Southwest, JB, India, Samsung India, Cybermedia Research Locations: India, South Korea, Sriperumbudur, Chennai, Seoul, Samsung’s, Samsung’s Southwest Asia, Gurugram, New Delhi, Mumbai

☆ Trump campaign and JD Vance promote false rumors about Haitian immigrants eating pets
▼ + stars: | 2024-09-09 | by ( Michael Williams | ) edition.cnn.com time to read: +6 min

CNN —Several prominent Republicans, including the party’s vice presidential nominee Sen. JD Vance, promoted false claims on Monday that Haitian migrants in Ohio are killing and eating family pets. Those rumors were picked up by conservative media and then spread on X, where they gained widespread traction on Monday. “President Trump will deport migrants who eat pets,” a Trump campaign account posted to X. Make your choice, America.”Texas Sen. Ted Cruz posted a meme showing two kittens embracing. They spread widely on X, whose owner, Elon Musk, has embraced the false rumors and posted several memes that promoted them.

Persons: Sen, JD Vance, Kamala Harris, Trump, “ Kamala Harris, Texas Sen, Ted Cruz, don’t, ” Vance, Elon Musk, Sheila Cherfilus, McCormick, Vance, Cruz, ”, Cherfilus, “, JD, ” Spokespeople, Harris, Black, “ That’s, who’s, CNN’s Aaron Pellish, Kit Maher Organizations: CNN, Springfield Facebook, Springfield News, “, Trump, Republican Party, City, Democratic, Biden, Republican Locations: Ohio, Springfield, Caribbean, Haitian, Texas, Canton , Ohio, Haitian American, South Florida, Cuban, Springfield ”, stoke, Florida

☆ JD Vance is sticking with Tucker Carlson after he interviewed a Holocaust revisionist. It's not the first time.
▼ + stars: | 2024-09-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Read previewSen. JD Vance, former President Donald Trump's running mate, is in the midst of yet another controversy: his association with Tucker Carlson. Advertisement"Senator Vance doesn't believe in guilt-by-association cancel culture but he obviously does not share the views of the guest interviewed by Tucker Carlson," Vance spokesperson William Martin said in a statement. AdvertisementHe went on to posit that British Prime Minister Winston Churchill was the "chief villain of the Second World War" and was responsible for escalating the conflict. Alex Floyd, a spokesman for the Democratic National Committee, criticized Vance in a statement for declining to denounce Carlson. "If you appear with Tucker Carlson, if you do an interview with him as JD Vance apparently has, you're endorsing him," Cheney said.

Persons: —, Sen, JD Vance, Donald Trump's, Tucker Carlson, Carlson, Darryl Cooper, That's, Cooper, Vance isn't, Vance doesn't, Vance, William Martin, President Trump, It's, Winston Churchill, Adolf Hitler, Vance Vance, Trump, Alex Floyd, Floyd, Liz Cheney, Cheney, — Sen, Josh Hawley of, Mike Braun, Indiana —, Tucker, NBC's Kristen Welker, — Vance Organizations: Service, Fox News, Business, British, Democratic National Committee, Republican, New York Times, Trump Locations: Hershey , Pennsylvania, Israel, America, Ohio, United States, Texas, Nazi, Washington ,, Josh Hawley of Missouri

☆ India and Singapore agree to cooperate on chips as countries seek to strengthen partnership
▼ + stars: | 2024-09-05 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

The announcement comes during Indian Prime Minister Narendra Modi's two-day visit to the Lion City, which began Wednesday following a trip to Brunei. The next phase of the Singapore-India partnership is very promising," Singapore Deputy Prime Minister Heng Swee Keat said at the Singapore-India Forum organized by the Singapore-India Partnership Foundation, Institute of South Asian Studies and the Singapore Business Federation. "Singapore, India and the rest of Asia must continue to strengthen on economic connectivity and integration, to allow for capital, ideas and talent to find their optimal uses," he said. We want to create a bunch of Singapores in India," Modi said in a meeting with Wong. watch nowOn Wednesday, Modi and Singapore's Prime Minister Lawrence Wong visited Singaporean semiconductor and electronics company AEM, signaling their intent to increase cooperation in chips.

Persons: Narendra Modi, Brunei Sultan Hassanal, Dean Kassim, Narendra Modi's, Heng Swee Keat, Modi, Wong, Lawrence Wong, Heng, Ajit Doval, It's, Anit Mukherjee Organizations: India's, Istana Nurul, Afp, Getty, SINGAPORE —, Indian, Lion, Singapore -, India Partnership Foundation, Institute of South Asian Studies, Singapore Business Federation, U.S, International Monetary Fund, Singapore's, National, Imports, CNBC, Modi's, King's College London, Economic, Board Locations: Brunei Sultan, Istana Nurul Iman, Bandar Seri Begawan, SINGAPORE, SINGAPORE — India, Singapore, Brunei, India, Singapore - India, Asia, —, China, Germany, Japan

☆ India's Modi expected to usher in new era of bilateral agreements in Singapore visit
▼ + stars: | 2024-09-04 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

Indian Prime Minister Narendra Modi during the launch of BJP membership campaign on Sept. 2, 2024 in New Delhi, India. Modi will also be meeting Singapore President Tharman Shanmugaratnam, Senior Minister and former Prime Minister Lee Hsien Loong, and Emeritus Senior Minister Goh Chok Tong during his two-day visit. Dean Kassim | Afp | Getty ImagesEarlier this week, the Indian prime minister made his inaugural trip to Brunei where he met Sultan Hassanal Bolkiah. Modi is India's first prime minister that has made a bilateral visit to the oil-rich country. The Indian prime minister had also visited Italy for the G7 summit, Russia, Ukraine and Poland in the last three months since his reelection.

Persons: Narendra Modi, Lawrence Wong, Modi, Tharman Shanmugaratnam, Lee Hsien Loong, Goh Chok Tong, Anit Mukherjee, Mukherjee, Dean Kassim, Sultan Hassanal Bolkiah, Omar Ali Saifuddien, Nirmala Sitharaman, Jaishankar, Wong, Vivian Balakrishnan, Balakrishnan Organizations: Indian, Hindustan Times, Getty, Singapore, Senior, King's College London, CNBC, Imports, Brunei International, Afp, High Commission of, Institute of South Asian Studies, Finance, Foreign Locations: New Delhi, India, Singapore, Asia, Bandar Seri Begawan, Brunei, High Commission of India, Italy, Russia, Ukraine, Poland, Lion City

Democratic presidential nominee and U.S. Vice President Kamala Harris and vice presidential nominee Tim Walz walk down the steps from Air Force Two at Savannah/Hilton Head International Airport in Savannah, Georgia, U.S., August 28, 2024. Democratic presidential nominee Kamala Harris in a new interview Thursday defended her vice presidential record on immigration and blamed her Republican rival Donald Trump for killing a bipartisan bill aimed to address the U.S.-Mexico border. "He killed the bill, a border security bill that would have put 1500 more agents on the border," she said. Harris vowed to sign that bill into law if she beats Trump in the Nov. 5 election. The vice president picked two hot-button issues to illustrate her point.

Persons: Kamala Harris, Tim Walz, Donald Trump, Harris, Dana Bash, Joe Biden, Trump, Walz, Sen, JD Vance, Thursday's, Bash, you've Organizations: Democratic, U.S, Air Force, Savannah, Hilton Head International, Republican, CNN, Minnesota Gov, Trump, Kim's, National Association of Black Journalists Locations: Savannah , Georgia, U.S, Mexico, Ohio

☆ Busload of Indian Tourists in Nepal Plunges Into River, Killing at Least 27
▼ + stars: | 2024-08-24 | by ( Bhadra Sharma | ) www.nytimes.com time to read: 1 min

At least 27 people died in Nepal on Friday when a tour bus fell into a gorge and went into the Marsyangdi River in the central district of Tanahun. The bus, carrying tourists from Maharashtra State in the center-west of India, was en route to Nepal’s capital, Kathmandu, from Pokhara, a popular tourist destination. Nepal gets a lot of Indian tourists, mostly families who arrive by road to visit major Hindu temples. Birendra Bahadur Shahi, a superintendent of police in Tanahun, said 16 others were injured in the crash. It took rescuers seven hours to lift the injured and the dead using ropes.

Persons: Birendra Bahadur Shahi, Shahi Locations: Nepal, Tanahun, Maharashtra State, India, Kathmandu, Pokhara

☆ Modi Arrives in Kyiv as Ukraine Pushes Diplomacy
▼ + stars: | 2024-08-23 | by ( Andrew E. Kramer | ) www.nytimes.com time to read: 1 min

Prime Minister Narendra Modi of India arrived in Kyiv on Friday, furthering a long diplomatic effort by Ukraine to engage non-Western nations in potential settlement talks in the war with Russia. While many leaders of countries backing Ukraine, including President Biden, have visited Kyiv, Mr. Modi’s trip is the highest-profile wartime visit of a leader of a nation with a neutral stance on the conflict. Ukrainian officials have said that they do not see a mediating role for India, but they portrayed Mr. Modi’s visit as a welcome show of support for their country during the war. The visit is a first by an Indian leader since Ukraine gained independence in 1991. In comments to reporters in Poland before traveling into Ukraine, Mr. Modi said he intended to discuss the war.

Persons: Narendra Modi, Biden, Modi’s, Modi Organizations: India, Mr Locations: Kyiv, Ukraine, Russia, India, Poland

☆ After medic's rape and murder, Indian doctors stage 24-hour nationwide strike
▼ + stars: | 2024-08-16 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

Medical professionals and students participate in a silent march as they condemn the rape and murder of a doctor, in Kolkata on August 15, 2024. The Indian Medical Association, the largest association of modern medicine doctors in India, has called for the suspension of non-emergency medical services for 24 hours across the country after a female trainee doctor was raped and murdered last week at a hospital. The IMA alleged that police and authorities had handled the murder and rape case "shabbily." Reuters reported that the 31-year-old victim was killed inside the medical college where she worked, and was found dead last Friday. Police said she had been raped and a police volunteer was later arrested in connection with the crime.

Organizations: Indian Medical Association, IMA, Reuters, Police Locations: Kolkata, India, India's West Bengal

According to state-owned All India Radio, federal forensic experts and medical officers were expected to visit the R.G. Kar Medical College and Hospital, where authorities found the body of the 31-year-old resident doctor in a seminar hall on Friday. The case also highlights India’s long struggle to tackle violence against women, despite some of the world’s most stringent laws. Medical associations across the country joined the action, calling for a federal investigation and overhaul of security measures at hospitals. Videos from Kolkata showed doctors wearing white coats and stethoscopes chanting and raising banners reading “we want justice.”Similar protests continued in other cities across India.

Persons: —, Dibyangshu Sarkar, Jagat Prakash Nadda, Doctors “, Nadda Organizations: India Radio, Kar Medical College and Hospital, . Police, Indian Medical Association, Getty, of Resident, Association, Central Healthcare Protection, Federation of All India Medical Association, Lohia, IMA, National Medical Commission, Crime Records Locations: India, Kolkata, West Bengal, AFP, New Delhi, India’s

Mujib Mashal is the South Asia bureau chief for The Times, helping to lead coverage of India and the diverse region around it, including Bangladesh, Sri Lanka, Nepal and Bhutan.

Persons: Mujib Mashal Organizations: The Times Locations: South Asia, India, Bangladesh, Sri Lanka, Nepal, Bhutan

☆ This high school is replacing teachers with ChatGPT and AI tools to personalize learning for some students
▼ + stars: | 2024-08-14 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Read previewA high school in London is replacing teachers with AI tools such as ChatGPT to help some students prepare for exams. In the pilot scheme at David Game College starting in September, 20 students who are about 15 years of age will use AI tools for a year before taking their GCSE exams. This story is available exclusively to Business Insider subscribers. The students will also be supported by three full-time learning coaches, and will receive personalized learning paths. He added that the college has "humanized the AI learning process by creating a holistic and engaging educational experience."

Persons: —, John Dalton, coprincipal, Dalton, Hadida, Grabow, Karl Knapp Organizations: Service, David Game College, Business, Higher Learning, Los Angeles Unified School, University of Indianapolis Locations: London, Hadida Grabow

☆ Reliance, Disney offer concessions to win antitrust nod for India media merger, Reuters reports
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +1 min

Reliance and Walt Disney have offered to sell some channels to win faster antitrust approval for their $8.5 billion India media assets merger, but are resisting changes to cricket broadcast rights they own, two sources familiar with the matter said. Antitrust experts have warned that the Reliance-Disney merger, announced in February, could face intense scrutiny as it will create India's biggest entertainment player which will compete with Sony , Zee Entertainment , Netflix and Amazon with a combined 120 TV channels and two streaming services. The sources said some of the concessions being offered relate to regional Indian language channels where the two companies may have a dominant market share. Zee and Sony planned to create a $10 billion TV behemoth in India and in 2022 offered concessions by selling three TV channels. That helped them win CCI approval, but the merger eventually collapsed.

Persons: Walt Disney, Mukesh Ambani's Organizations: Walt, Antitrust, Disney, Sony, Zee Entertainment, Netflix, Competition Commission of India, Reliance, Zee Locations: India

☆ Value of company run by one of the world's richest people slides after new allegations by a New York short-seller
▼ + stars: | 2024-08-13 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

Short-seller Hindenburg Research made accusations against the head of India's market regulator. It said that the regulator had links to offshore funds also used by the Adani Group. Adani companies lost around $2.43 billion in market value during a share sell-off on Monday. AdvertisementGautam Adani, one of the world's richest men and founder of Adani Group, has suffered yet another setback. This week, fresh accusations by activist short-seller Hindenburg Research led to a heavy share sell-off at Adani's group of companies, wiping off around $2.4 billion in their total market value, according to Reuters.

Persons: —, Gautam, Hindenburg Organizations: Hindenburg, Adani, Service, Hindenburg Research, Reuters, Business Locations: New York

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