Here are the top stories this evening:
Twitter in final phase of negotiations on sale to Elon Musk: Reports
Social media giant Twitter is in the final stretch of negotiations about its sale to Tesla founder Elon Musk and could reach a deal later on Monday, reports said on April 25.
Read full story here
Indonesian move to halt palm oil export raises edible oil prices in India
The top global palm oil producer Indonesia’s plan to halt the export of the commodity from April 28 is heating up edible oil prices in the country. The prospect of a plunge in the largest imported edible oil to India is leading to a spike in prices of other edible oils as well.
Read full story here
Taking Stock | Market extends losses on Beijing lockdown fears, Nifty ends below 17,000
The Indian equity market fell for the second consecutive day on April 25, dragging the Nifty below 17,000 on weak global cues, including Beijing lockdown fears amid rising COVID-19 cases. At close, the Sensex was down 617.26 points or 1.08% at 56,579.89, and the Nifty was down 218 points or 1.27% at 16,954.
Read full story here
Government to fast-track asset monetisation as disinvestment plan flounders
The government is looking to fast-track asset monetisation and a meeting of a core group of secretaries, led by the cabinet secretary, has been called on April 29, sources have said. The move comes as the disinvestment plan takes a hit, with the privatisation of Bharat Petroleum Corporation of India (BPCL) on hold.
Read full story here
Future group lenders plan to drag other group companies to bankruptcy court, seek maximum debt recovery
Creditors of debt-laden Future Group are considering clubbing all group companies under the bankruptcy process after Reliance Industries Ltd called off a deal to acquire the Kishore Biyani-backed company’s retail, logistics, and warehouse assets.
Read full story here
Franklin Templeton is here to stay in India, we are hiring and getting ready to launch new funds: Sanjay Sapre
Late evening on April 23, 2020, Sanjay Sapre, president of Franklin Templeton Asset Management (India) Ltd, made probably, one of the most awkward public announcements in his life—that of winding up six of the fund house’s marquee debt funds. These were all open-ended debt funds and weren’t meant to be shut down. Franklin Templeton believed that by winding up the schemes, it would buy the fund house time to sell its illiquid securities once market conditions improved.
In an interview with Moneycontrol, Sapre gives his point of view on how Franklin Templeton aims to win back investors’ confidence, whether Franklin Templeton looking to sell out and leave India or if it want to stay on and get back on track.
Read full story here