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Reuters
29 minutes ago
- Reuters
India's markets regulator proposes to relax limits for approval, disclosure of related-party transactions
Aug 4 (Reuters) - India's markets regulator has proposed relaxing the threshold for which companies need to seek shareholder approval for related-party transactions though a system based on the firm's annual turnover. The proposed system would raise the transaction threshold to up to 50 billion rupees ($570.7 million) from the current limit of 10 billion rupees, the Securities and Exchange Board of India (SEBI) said in a draft consultation paper published on Monday. The regulator also plans to relax disclosure norms for related-party transactions valued at less than 150 million rupees, it said in the paper. ($1 = 87.6090 Indian rupees)
Reuters
an hour ago
- Reuters
China's Ant Group to exit India's Paytm, term sheet shows
Aug 4 (Reuters) - China's Ant Group ( opens new tab will exit Indian payments firm Paytm ( opens new tab by selling its remaining equity stake in block deals that could total 38 billion rupees ($433.72 million), according to a term sheet seen by Reuters on Monday. Ant, an affiliate of Chinese conglomerate Alibaba Group ( opens new tab, will sell its 5.84% stake at a floor price of 1,020 rupees per share. Goldman Sachs India Securities and Citigroup Global Markets India will lead the sale, the term sheet showed. Paytm and Ant Group did not immediately reply to Reuters' requests for comment. The payments firm, listed as One 97 Communications, has seen multiple share sales in the past two years, including the exit of Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab and Japan's SoftBank Group (9984.T), opens new tab, according to exchange data. Ant had sold a 4% stake in Paytm in May and a 10.3% stake in August 2023. ($1 = 87.6150 Indian rupees)
The Sun
an hour ago
- The Sun
Mercedes' ultra futuristic new EV boasts ‘shape-shifting' LED grille to display ‘messages' – would YOU buy it?
MERCEDES has launched a brand new EV which has an incredible 'shape-shifting' LED grille. The ultra-futuristic motor can even display messages on the screen on its front, in a 'new era' for the brand. 3 The incredible GLC with EQ technology has a giant 'hyper-screen' on its EQE and EQS models. According to the car manufacturer, the motor will begin a 'new era of iconic design at Mercedes -Benz'. The EQS will have a bright chrome surround and a screen with 942 pixel-like dots. The dots can be illuminated from behind and can be animated to display a variety of exciting graphics. Mercedes has added its logo in the centre of the screen, though the amount that you can illuminate this will vary depending on where the motor is sold. In Europe, for example, you'll be able to light up the star but not the circle around it. Ola Källenius, Mercedes' CEO, said: 'When 100+ new companies are launching in China and cooling requirements are changing, how do you keep your identity? 'We are taking our heritage and pedigree and looking into the future.' Design boss Gorden Wagener added: 'Our new iconic grille is not just a new front for the GLC. 'It redefines the face of our brand. Mercedes reveals its new luxury EV with 'superscreen' passengers can play video games or watch Netflix on while on move 'It is the perfect fusion of lasting design codes reinterpreted for the future, making our cars instantly recognisable.' The news comes as after the brand launched a new 4x4 vehicle which can rotate 360 degrees - just like a tank. The incredible motor will cost a staggering £154,000 and is designed to be a rival to the upcoming EV Range Rover. Mercedes' battery-powered G-Wagen - also known as the G580 - boasts a top speed of 112mph, with 0-62mph in just 4.7 seconds. It weighs a staggering 3085kg, meaning it could breach the 3.5-ton weight limit if the driver loads it with 415kg of luggage. 3 History of the Mercedes G-Wagen The G-Wagen was developed in the 1970s as a military vehicle known as the Wolf, inspired by a suggestion from the Shah of Iran. The first civilian Mercedes Geländewagen was released in 1979 and become renowned for its military go-anywhere ability. After a number of facelifts over the decades, Mercedes unveiled a ground-up redesign at the Detroit Auto Show 2018, with massive improvements in comfort and ride quality. Since then it's been engineered as an EV, accepting a 116kWh lithium-icon NMC 12-cell battery pack which powers four motors.
