Oil Down 5%, Hitting $47 as Freefall Continues By – Investing.com

Oil Down 5%, Hitting $47 as Freefall Continues By – Investing.com

© Reuters. Investing.com – The machines are in control of the oil market, with real-life traders already in holiday mood, pushing crude prices to a 16-month bottom and toward the bears’ long-desired technical target of the low $40s per barrel. And some say below $40 a barrel may be possible before the year end. U.S. West Texas Intermediate oil settled down 7%, the third time in four weeks that the market has fallen as much….

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Elon Musk’s SpaceX to raise $500 million in funding: WSJ – Moneycontrol.com

Elon Musk’s SpaceX to raise $500 million in funding: WSJ – Moneycontrol.com

Elon Musk’s rocket company SpaceX Corp is set to raise $500 million at a $30.5 billion valuation, the Wall Street Journal reported on December 12, citing people familiar with the fundraising. The company is raising the capital from existing shareholders and new investor Baillie Gifford & Co, the third-largest shareholder in Musk-led electric carmaker Tesla Inc. SpaceX did not immediately responded to Reuters request for comment. SpaceX investors are paying $186 per share for new…

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RBI officers protest over promotion policy – The Hindu

RBI officers protest over promotion policy – The Hindu

Hundreds of Reserve Bank of India (RBI) officers joined a protest on Tuesday against a change recently made in the promotion policy, the central bank sources said. The protest, that started around lunchtime, went on till the evening prompting some senior central bank officials to discuss the matter with the protesters. According to sources, in some grades, promotion was almost automatic except for a certain percentage. However, a recent decision to increase the percentage of…

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LIC makes open offer to acquire 26% stake in IDBI Bank – Moneycontrol.com

LIC makes open offer to acquire 26% stake in IDBI Bank – Moneycontrol.com

State-owned IDBI Bank said it has received final letter from Life Insurance Corporation (LIC) for an open offer to acquire additional 26 percent in the lender. “This is to inform that IDBI Bank is in receipt of final letter of open offer from LIC vide letter dated December 18, 2018 for acquisition of 2,04,15,12,929 fully paid-up equity shares representing 26 percent of the fully diluted voting equity share capital of IDBI Bank from the equity shareholders…

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Cisco Buying Chip Maker Luxtera for $660M – Crunchbase News

Cisco Buying Chip Maker Luxtera for $660M – Crunchbase News

Cisco announced plans today to buy Luxtera, a semiconductor company, for $660 million to help meet its customers’ demand for internet bandwidth. Follow Crunchbase News on Twitter Carlsbad-based Luxtera “uses silicon photonics to build integrated optics capabilities for webscale and enterprise data center, service provider market segments and other customers,” according to a Cisco statement. Translated, I think that means Luxtera uses some neat light technology to build optical tooling for enhanced big data transfer. Luxtera claims…

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CSR funds worth Rs 8,314 cr remained unspent over three financial years – Moneycontrol.com

CSR funds worth Rs 8,314 cr remained unspent over three financial years – Moneycontrol.com

Corporate Social Responsibility (CSR) funds worth over Rs 8,314 crore remained unspent over three financial years starting from 2014-15, according to the government. Under the Companies Act, certain class of profitable entities are required to shell out at least two percent of their three-year annual average net profit towards CSR activities in a financial year. As per data provided by Corporate Affairs Minister Arun Jaitley in a written reply to the Rajya Sabha, the total…

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Hyundai Creta Rendered In New Shade With Smoked Headlamps; Looks Astounding – GaadiWaadi.com

Hyundai Creta Rendered In New Shade With Smoked Headlamps; Looks Astounding – GaadiWaadi.com

This is the rendering of the existing model with smoked headlamp cluster, black alloy wheels and blackened front grille with horizontal slats without Hyundai logo Hyundai Motor India Limited (HMIL) introduced the Creta back in July 2015 and in its over three years of presence in the market, the compact premium SUV would have clocked sales close to 3,50,000 units. Just in 2018, the SUV has averaged more than 10,000 units monthly and it hasn’t…

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India’s attitude toward Huawei, ZTE shows contradictory mentality on working with China: expert – Global Times

India’s attitude toward Huawei, ZTE shows contradictory mentality on working with China: expert – Global Times

Indian actor and actress showcase Huawei smartphones at a launch of flagship Honor 8 in October 2016 in New Delhi, India. File photo: VCG India’s telecom industry has been wrestling with the idea of excluding Chinese suppliers such as Huawei Technologies and ZTE Corp from government network procurement, which reflects India’s contradictory mentality in dealing with China, a Chinese expert said on Tuesday. An Indian telecom export body has sent a request to National Security…

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