Christian Michel extradited to India

Christian Michel, the alleged middleman in the Rs 3,600-crore AgustaWestland chopper deal, was extradited to India from the UAE on Tuesday night.

Christian Michel, a British national, is wanted in India in connection with the AgustaWestland VVIP choppers scam. The Enforcement Directorate (ED), in its charge sheet filed against Michel in June 2016, had alleged that he received EUR 30 million (about Rs 225 crore) from AgustaWestland.

I-T Act redrafting panel may not change tax slabs

The task force set up to redraft income tax (I-T) law will focus on removing the ambiguities, rather than suggesting dramatic policy changes and tweaking of tax rates, the panel’s convenor Akhilesh Ranjan said on Tuesday.

Ranjan said the six-member task force formed to redraft the over 50-year old I-T law will meet shortly to draft a new law, which will be more comprehensible.

“Tax rate is prima-facie not the main focus area of this task force.... (task force will focus on) simplification which can remove the ambiguities,”  Ranjan told mediapersons.

New Jaguar XJ50 drives into India

Tata Motors-owned British luxury sports car maker Jaguar Land Rover on Monday launched a special edition of its Jaguar XJ model called XJ50 to celebrate five decades of the XJ being on sale globally. Bookings for the company’s flagship luxury saloon are now open in India.

The Jaguar XJ50, which measures over 5.2 metre in length, is one of the longest saloons on sale in the country. With a price tag of Rs 1.11 crore in India, the range-topping Jaguar sedan rivals flagship models from Germany’s big three brands such as the BMW 7 Series, Mercedes-Benz S-Class and the Audi A8.

Millennials pick travel spots based on ‘Instagrammability’

Indian millennials are increasingly choosing travel destinations based on their “Instagrammability.” They also rate destinations based on this criteria. The survey done by travel site Ixigo shows how social media has become an important element in making life’s decisions. 

Deutsche Bank chief dismisses takeover speculation

Deutsche Bank is not at risk of a takeover, its chief executive told a German weekly paper after its shares fell to a record low on November 30 in the wake of a two-day raid related to money laundering allegations.

Speculation about a possible merger has continued despite the bank's dismissal in September of reports that it could consider tie-ups with Switzerland's UBS or German peer Commerzbank.

IITs set for strong placement season

Tech giants, e-commerce biggies and consultancy majors were among the companies, which started the placement sessions at different Indian Institutes of Technology.

Patton Group signs OEM contract with Mexico-based firm

While a number of global and transnational companies are now coming to India to start their business, India’s Patton Group is moving beyond borders. Close on the heels of foraying into warehousing business in the US, Patton International, has signed OEM (original equipment manufacturer) contract with Eaton Crouse Hinds of Mexico. 

The next level of tech growth in India

Being the torch bearer of Indian IT in the last couple of decades, Bangalore, on behalf of the entire nation, has built a significant branding and positioning for the sector in the international markets.

Going forward, the city and state of Karnataka are all set to build huge capabilities for deep, digital technologies, thus creating a solid base for the next level growth of the country’s tech sector, said state chief minister HK Kumaraswamy.

E-com discounts hit offline sales of consumer durables

Heavy discounts offered on the e-commerce channels hit the offline sales of consumer durables and large appliances during the festive season. While consumer durables clocked 57 per cent growth on the online platform, the category as such fell flat in terms of growth during the festive season.

Facebook faces legal challenge and UK grilling over bikini app

An online ad for a Facebook app that debuted in 2014 showed a man in a bar pointing his phone at women to zap away their clothes, leaving them wearing only bikinis.

The Pikini app for locating photos of users in swimsuits didn’t last long because Facebook restricted developer access to friends’ data. But now a bitter legal dispute between the app maker and the social networking giant is threatening to strip bare Facebook’s often-criticised practices for sharing what users post on the network.