Sunday, September 20
Ahmedabad-based Torrent Pharmaceuticals has sought fair trade regulator CCI's clearance to acquire a majority stake in in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal. After the completion of the deal, Torrent Pharmaceuticals will become India's second most valued pharma company. The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal. "The proposed combination relates to acquisition of shareholding by the acquirer (Torrent Pharmaceuticals Ltd) in the target (J B Chemicals & Pharmaceuticals Ltd) and the subsequent amalgamation of the target with the acquirer," according to a notice filed with the Competition Commission of India (CCI). Torrent Pharmace
U.S. consumer sentiment improved in July, and while inflation expectations continued to decline, households still saw substantial risk of price pressures increasing in the future. The University of Michigan's Surveys of Consumers on Friday said its Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index would increase to 61.5. "Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example if trade policy stabilizes for the foreseeable future," Joanne Hsu, the director of the Surveys of Consumers, said in a statement. "At this time, the interviews reveal little evidence that other policy developments, including the recent passage of
Brazilian President Luiz Inacio Lula da Silva on Thursday slammed Donald Trump's threat to impose 50 percent tariffs on Latin America's largest economy as "unacceptable blackmail."Lula's comments during a nationally televised speech were the latest in series of tense exchanges between the leaders, with the US president launching especially blistering attacks on the government in Brasilia.Trump announced on July 9 his intention to slap steep tariffs on Brazil as punishment for what he termed a "witch hunt" against his far-right ally, former president Jair Bolsonaro.The United States has also said it is investigating Brazil's "unfair trading practices," and Brasilia said it was committed to negotiations.The tariffs on all products from Brazil would kick in on August 1 if Brasilia and Washing
A passenger plane crash in Nepal last year that killed 18 people was caused by faulty information about the aircraft's takeoff speed in the flight documentation, a report issued on Friday by a government-appointed investigation panel said. A CRJ-200LR aircraft, owned by Nepal's Saurya Airlines, crashed shortly after taking off from the capital Kathmandu in July last year, killing all 17 passengers and the co-pilot. Only the captain survived. The crash was caused by a "deep stall during take-off because of abnormally rapid pitch rate commanded at a lower-than-optimal rotation speed", the report submitted to the government said. Aviation expert Nagendra Prasad Ghimire told Reuters the aircraft made a premature takeoff before gaining the necessary speed. The report said errors in a speed card
