 "Top headlines: Spicejet most delayed airline, Twitter rival to launch Thurs")
IIHL to raise $1.5 bn to fund RCap buy, increase holding in IndusInd Bank
Hinduja group firm IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, announced on Monday its plans to raise $1.5 billion (about Rs. 12,300 crore) to increase its stake in the lender to 26 per cent from the current 15 per cent as well as fund its proposed acquisition of debt-laden Reliance Capital. Read more
For advising on $64 billion HDFC Bank deal, bankers get a 0.0002% fee
A $64 billion merger of two big Indian lenders is yielding almost no fees to financial advisers, highlighting investment bankers’ struggle for profits in the country. Housing Development Finance Corp.’s all-stock merger into HDFC Bank Ltd., which created one of the most valuable banks in the world, has about 18 advisers who got credit for a fee pool of just over $1 million, according to people familiar with the matter. Morgan Stanley and Bank of America Corp. will take the bulk of that pool while the rest will be paid just a token amount, they said, asking not to be identified as the information is not public. Read more
Instagram launch of Twitter's rival 'Threads' expected on Thursday
Instagram’s highly anticipated Twitter rival is expected to launch Thursday, according to a listing on Apple Inc.’s App Store.
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The app, called Threads, will function similarly to Twitter, with text-based posts that can be liked, commented on and shared, according to examples of screenshots on the App Store listing. People will be able to follow the accounts they follow on Instagram and keep their same user name. Instagram, owned by Meta Platforms Inc., declined to comment. Read more
Delhi HC rules in favour of Nokia in patent infringement case against Oppo
The Delhi High Court has ruled in favour of Nokia in a patent infringement suit against Oppo and ordered Oppo to furnish security payment of the India portion of the last-paid licence fee. Though the amount is confidential, it will be 23% of the amount paid under the 2018 License Agreement. This is because Oppo's India portion is 23% of its global sales. Read more
SpiceJet most delayed Indian airline as travel season takes a toll
Passengers on cash-strapped SpiceJet Ltd. are experiencing the most flight disruptions in India, the world’s fastest-growing aviation market. With the busy summer travel season arriving, only 61% of SpiceJet’s flights departed on time from the country’s four biggest airports — Mumbai, Delhi, Bengaluru and Hyderabad — in May, according to the Directorate General of Civil Aviation. That’s down from the already trailing figure of nearly 70% in April, the agency’s data showed. Read more