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Business Briefs

Scam fells Toshiba chief

Tokyo, July 21: Toshiba Corp's CEO Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Tanaka will be temporarily replaced by chairman Masashi Muromachi after an independent inquiry found the CEO had been aware that the company had inflated its profits by $1.2 billion over a period of several years.

Rajan-FM meet

New Delhi, July 21: RBI governor Raghuram Rajan today called on finance minister Arun Jaitley and is believed to have discussed various issues, including the current macro-economic situation. The meeting comes ahead of the RBI's bi-monthly monetary policy to be announced on August 4.

FDI in retail

New Delhi, July 21: Foreign portfolio investors can invest up to 49 per cent in multi-brand retail and online wholesale companies without government approval following the introduction of a composite cap in foreign investment policy, an official said.

Hyundai move

New Delhi, July 21: Hyundai today launched the Creta at a starting price of Rs 8.59 lakh (ex-showroom New Delhi) with an aim to establish a dominant position in the mass-market sports utility vehicle segment in India.

Unitech

New Delhi, July 21: The shareholding of promoters in Unitech has come down by nearly 13 per cent to 32.61 per cent as on June 30. Promoters had a stake of 45.54 per cent in the company at the end of the March-quarter.

Opinion

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