Top headlines: European shares tumble 2%; Ujjivan SFB MD & CEO resigns

Business Standard brings you the top stories this evening

European shares fall 2% on Fed taper fears; commodities slump hits miners

European shares fell 2% on Thursday as fears built that tapering in global monetary policy would happen sooner than previously expected, while a slump in commodity prices dragged mining stocks lower.

The pan-European STOXX 600 was down 1.9% at a two-week low, with mining stocks sliding 4.6% on track for their worst day in in more than year. Read more

Nitin Chugh resigns as MD & CEO of Ujjivan Small Finance Bank

Nitin Chugh, the managing director and chief executive officer (MD & CEO) of Ujjivan Small Finance Bank, has resigned from his position citing personal reasons, effective September 30, 2021.

Further, Chugh will cease to be a director of the bank from the same date. And, he will also cease to be key managerial personnel of the bank. Read more

Jet Airways staff unions challenge resolution plan, file appeal in NCLAT

Jet Airways employees have rejected the Kalrock-Jalan consortium’s offer under the resolution plan and have challenged the plan in the National Company Law Appellate Tribunal.

Bharatiya Kamgar Sena (BKS) and Jet Airways Cabin Crew Association, on Wednesday, filed an appeal against the National Company Law Tribunal’s June 22 order approving the resolution plan. Read more

Aiming to raise $700 mn in debt over next 2 yrs: BharatPe CEO Suhail Sameer

Financial services startup BharatPe said it has raised Rs 100 crore each as debt from IIFL Wealth & Asset Management, one of India’s leading wealth and asset management companies and Northern Arc Capital, one of India’s leading debt platforms.

BharatPe shared that with this seventh round of debt fundraise of Rs 200 crore, it has raised a total of over Rs 500 crore in debt at competitive rates in 2021. The company added that it plans to raise $ 250 million in debt by the end of FY22. Read more