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Ratan Tata, the legendary Indian businessman and chairman of Tata Trusts, welcomed back Air India through a tweet as the Tata Sons regained control of Air India - nearly 70 years after its nationalisation.

The transaction brings Air India full circle, since it was launched in 1932 as Tata Airlines by family heir and aviation enthusiast Jehangir Ratanji Dadabhoy Tata. 
 
<a href="https://www.wionews.com/business-economy/tata-sons-wins-the-bid-for-acquiring-national-carrier-air-india-for-rs-180-billion-419139">Also read | Tata Sons wins the bid for acquiring national carrier Air India for Rs 180 billion</a> 
&nbsp;

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Welcome back, Air India 🛬🏠 <a href="https://t.co/euIREDIzkV">pic.twitter.com/euIREDIzkV</a>
— Ratan N. Tata (@RNTata2000) <a href="https://twitter.com/RNTata2000/status/1446431109122650118?ref_src=twsrc%5Etfw">October 8, 2021</a></blockquote>
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The link between the Tata Group and Air India dates back to 1932, when famous businessman and India's first commercially certified pilot JRD Tata founded the national airline.

The original service provided a weekly airmail service from Karachi to Madras via Ahmedabad and Bombay.

The airline quickly grew to include passenger planes, and in 1938 it began international flights.

With the addition of Columbo to its list of destinations, the airline's name was changed to Tata Air Services, and then to Tata Airlines.&nbsp;

During World War II, the famous airlines performed support flights for the British Royal Air Force in Burma.

After the war, the airline changed its name to the now-iconic Air India.

The Union government then became interested in Air India and purchased a 49 percent share in it.

Soon after, the government seized control of the airline from Tata Sons and nationalised it under the Air Corporations Act in 1953.

(With inputs from agencies)

Ratan Tata, the legendary Indian businessman and chairman of Tata Trusts, welcomed back Air India through a tweet as the Tata Sons regained control of Air India - nearly 70 years after its nationalisation.

Ratan Tata, the legendary Indian businessman and chairman of Tata Trusts, welcomed back Air India through a tweet as the Tata Sons regained control of Air India - nearly 70 years after its nationalisation. The transaction brings Air India full circle, since it was launched in 1932 as Tata Airlines by family heir and aviation enthusiast Jehangir Ratanji Dadabhoy Tata. Also read | Tata Sons wins the bid for acquiring national carrier Air India for Rs 180 billion Welcome back, Air India 🛬🏠 pic.twitter.com/euIREDIzkV — Ratan N. Tata (@RNTata2000) October 8, 2021 × The link between the Tata Group and Air India dates back to 1932, when famous businessman and India's first commercially certified pilot JRD Tata founded the national airline. The original service provided a weekly airmail service from Karachi to Madras via Ahmedabad and Bombay. The airline quickly grew to include passenger planes, and in 1938 it began international flights. With the addition of Columbo to its list of destinations, the airline's name was changed to Tata Air Services, and then to Tata Airlines. During World War II, the famous airlines performed support flights for the British Royal Air Force in Burma. After the war, the airline changed its name to the now-iconic Air India. The Union government then became interested in Air India and purchased a 49 percent share in it. Soon after, the government seized control of the airline from Tata Sons and nationalised it under the Air Corporations Act in 1953. (With inputs from agencies)

'Welcome back, Air India': Ratan Tata tweets as airline returns to Bombay House after 68 years

In a significant step, the National Company Law Tribunal (NCLT) has granted time to Zee Entertainment Enterprises Limited (ZEEL) till October 22nd to file its response to the Invesco case.

The development comes a day after the National Company Law Appellate Tribunal (NCLAT) ruled that the National Company Law Tribunal (NCLT) did not allow Zee Entertainment Enterprises Limited (ZEEL) enough time to respond to Invesco's petition.

NCLAT went on to say that not providing ZEEL enough time to file a response is a violation of natural justice principles.

The appeal tribunal ruled that ZEEL should have been given more time to respond to Invesco's request.&nbsp;

Commenting on the NCLAT order and hailing it, ZEEL spokesperson said, "The decision of the National Company Law Appellate Tribunal (NCLAT) today, justifies our complete faith in the Indian judicial system."

The ZEEL spokesperson added, "The due process of the law grants everyone an opportunity to present their case. NCLAT has taken cognizance of our plea and has reinforced the principles of natural justice, granting us a reasonable opportunity to be heard. The Company will continue to take all the necessary steps that are in the best interests of all its shareholders and as per the applicable law."

Earlier, the founder of Zee Entertainment Enterprises Limited (ZEEL), Dr Subhash Chandra, on Wednesday spoke to Zee News Editor-in-Chief Sudhir Chaudhary on the most popular news programme, DNA, on the matter of ZEEL and Invesco.

Slamming Invesco and people hidden behind Invesco and issuing directions to the investor, Dr Subhash Chandra said, "Invesco is trying to take over ZEEL by illegal means. This is very wrong. I don't know if China is trying to do this but this won't happen at any cost. "

"The government of this country and laws of this nation will never let take over of ZEEL happen by Invesco," Dr Chandra added.

In a significant step, the National Company Law Tribunal (NCLT) has granted time to Zee Entertainment Enterprises Limited (ZEEL) till October 22nd to file its response to the Invesco case.

In a significant step, the National Company Law Tribunal (NCLT) has granted time to Zee Entertainment Enterprises Limited (ZEEL) till October 22nd to file its response to the Invesco case. The development comes a day after the National Company Law Appellate Tribunal (NCLAT) ruled that the National Company Law Tribunal (NCLT) did not allow Zee Entertainment Enterprises Limited (ZEEL) enough time to respond to Invesco's petition. NCLAT went on to say that not providing ZEEL enough time to file a response is a violation of natural justice principles. The appeal tribunal ruled that ZEEL should have been given more time to respond to Invesco's request. Commenting on the NCLAT order and hailing it, ZEEL spokesperson said, "The decision of the National Company Law Appellate Tribunal (NCLAT) today, justifies our complete faith in the Indian judicial system." The ZEEL spokesperson added, "The due process of the law grants everyone an opportunity to present their case. NCLAT has taken cognizance of our plea and has reinforced the principles of natural justice, granting us a reasonable opportunity to be heard. The Company will continue to take all the necessary steps that are in the best interests of all its shareholders and as per the applicable law." Earlier, the founder of Zee Entertainment Enterprises Limited (ZEEL), Dr Subhash Chandra, on Wednesday spoke to Zee News Editor-in-Chief Sudhir Chaudhary on the most popular news programme, DNA, on the matter of ZEEL and Invesco. Slamming Invesco and people hidden behind Invesco and issuing directions to the investor, Dr Subhash Chandra said, "Invesco is trying to take over ZEEL by illegal means. This is very wrong. I don't know if China is trying to do this but this won't happen at any cost. " "The government of this country and laws of this nation will never let take over of ZEEL happen by Invesco," Dr Chandra added.

NCLT grants ZEEL time to file a response to the Invesco case by October 22

The Indian government announced on Friday that Tata Sons has been chosen as the winning bidder to take over state-run carrier Air India, bringing an end to years of negotiations to privatise the financially ailing airline. 
&nbsp; 
Tata Sons, the holding company for the autos-to-steel Tata conglomerate, bid Rs 180 billion&nbsp;($2.40 billion) for the government's 100% stake in Air India, a finance ministry official told reporters.&nbsp; 
 
<a href="https://www.wionews.com/business-economy/welcome-back-air-india-ratan-tata-tweets-as-airline-returns-to-bombay-house-after-68-years-419150">Also read | 'Welcome back, Air India': Ratan Tata tweets as airline returns to Bombay House after 68 years</a>

On October 4, a panel of ministers led by Home Minister Amit Shah authorised the bid, according to Pandey.

Financial proposals submitted by the salt-to-software conglomerate and SpiceJet promoter Ajay Singh were opened a few days ago and evaluated by the Cabinet Secretary-led Core Group of Secretaries on Disinvestment.

The offers were compared to the reserve price, and Tatas was the top bidder.&nbsp;

In the opening remarks and presentation by DIPAM, Tuhin Kanta Pandey said: “The FM had said in her Budget speech that the Govt of India aims to complete the Air India divestment in FY22. The competitive process has been carried out in a transparent manner.”

He added: “Bidders had to quote min 15% of enterprise value for cash consideration. Bidders were to quote max 85% of quoted enterprise value for retained debt.”

Key takeaways from the Air India-Tata agreement&nbsp;

Tata Sons' winning bid of Rs 180 billion ($2.4 billion) for Air India was more than the federal government's reserve price of Rs 129 billion, DIPAM Secretary said, adding that the Centre will get Rs 27 billion in cash from Tatas for the sale of its whole share.

Notably, Tatas' winning proposal of Rs 180 billion includes taking over Rs 153 billion in debt and paying the remainder in cash, according to DIPAM Secretary.

The central government has imposed constraints on Tata.Tatas, according to the DIPAM Secretary, are not permitted to transfer the Air India trademark and logo for a period of five years. After five years, they may only be transferred to Indians.&nbsp;

Tatas will have to retain all the staff of Air India for one year. However, the group can subsequently offer a voluntary retirement scheme (VRS) in the second year, the Aviation Secretary was quoted as saying by PTI. 
 
Tata Group-Air India relationship

The link between the Tata Group and Air India dates back to 1932, when famous businessman and India's first commercially certified pilot JRD Tata founded the national airline.

The original service provided a weekly airmail service from Karachi to Madras via Ahmedabad and Bombay.

The airline quickly grew to include passenger planes, and in 1938 it began international flights.

With the addition of Columbo to its list of destinations, the airline's name was changed to Tata Air Services, and then to Tata Airlines.&nbsp;

During World War II, the famous airlines performed support flights for the British Royal Air Force in Burma.

After the war, the airline changed its name to the now-iconic Air India.

The Union government then became interested in Air India and purchased a 49 percent share in it.

Soon after, the government seized control of the airline from Tata Sons and nationalised it under the Air Corporations Act in 1953.

(With inputs from agencies)

The Indian government announced on Friday that Tata Sons has been chosen as the winning bidder to take over state-run carrier Air India, bringing an end to years of negotiations to privatise the financially ailing airline.

The Indian government announced on Friday that Tata Sons has been chosen as the winning bidder to take over state-run carrier Air India, bringing an end to years of negotiations to privatise the financially ailing airline. Tata Sons, the holding company for the autos-to-steel Tata conglomerate, bid Rs 180 billion ($2.40 billion) for the government's 100% stake in Air India, a finance ministry official told reporters. Also read | 'Welcome back, Air India': Ratan Tata tweets as airline returns to Bombay House after 68 years On October 4, a panel of ministers led by Home Minister Amit Shah authorised the bid, according to Pandey. Financial proposals submitted by the salt-to-software conglomerate and SpiceJet promoter Ajay Singh were opened a few days ago and evaluated by the Cabinet Secretary-led Core Group of Secretaries on Disinvestment. The offers were compared to the reserve price, and Tatas was the top bidder. In the opening remarks and presentation by DIPAM, Tuhin Kanta Pandey said: “The FM had said in her Budget speech that the Govt of India aims to complete the Air India divestment in FY22. The competitive process has been carried out in a transparent manner.” He added: “Bidders had to quote min 15% of enterprise value for cash consideration. Bidders were to quote max 85% of quoted enterprise value for retained debt.” Key takeaways from the Air India-Tata agreement Tata Sons' winning bid of Rs 180 billion ($2.4 billion) for Air India was more than the federal government's reserve price of Rs 129 billion, DIPAM Secretary said, adding that the Centre will get Rs 27 billion in cash from Tatas for the sale of its whole share. Notably, Tatas' winning proposal of Rs 180 billion includes taking over Rs 153 billion in debt and paying the remainder in cash, according to DIPAM Secretary. The central government has imposed constraints on Tata.Tatas, according to the DIPAM Secretary, are not permitted to transfer the Air India trademark and logo for a period of five years. After five years, they may only be transferred to Indians. Tatas will have to retain all the staff of Air India for one year. However, the group can subsequently offer a voluntary retirement scheme (VRS) in the second year, the Aviation Secretary was quoted as saying by PTI. Tata Group-Air India relationship The link between the Tata Group and Air India dates back to 1932, when famous businessman and India's first commercially certified pilot JRD Tata founded the national airline. The original service provided a weekly airmail service from Karachi to Madras via Ahmedabad and Bombay. The airline quickly grew to include passenger planes, and in 1938 it began international flights. With the addition of Columbo to its list of destinations, the airline's name was changed to Tata Air Services, and then to Tata Airlines. During World War II, the famous airlines performed support flights for the British Royal Air Force in Burma. After the war, the airline changed its name to the now-iconic Air India. The Union government then became interested in Air India and purchased a 49 percent share in it. Soon after, the government seized control of the airline from Tata Sons and nationalised it under the Air Corporations Act in 1953. (With inputs from agencies)

Tata Sons wins the bid for acquiring national carrier Air India for Rs 180 billion

For the past few days, especially after the mega-merger announcement between ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI), some media houses are publishing baseless and hollow reports to fight a losing battle against ZEEL, and especially against Punit Goenka as he will continue as the Managing Director (MD) and Chief Executive Officer (CEO) of ZEEL.

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Some media reports are falsely citing Invesco's version to take on ZEEL MD &amp; CEO Punit Goenka but in vain. These reports have failed terribly in their mala fide attempt to malign the image of esteemed organisation - ZEEL and its MD &amp; CEO Punit Goenka. The reports lacking truth have fallen flat on the face of their publishers as Dr Subhash Chandra - Founder, Zee Entertainment Enterprises Limited, himself has come forward to clear the air on Invesco, ZEEL and Punit Goenka. The facts-laden statement by Dr Subhash Chandra - Founder, Zee Entertainment Enterprises Limited has now left no room for any confusion and will leave publishers of false and baseless reports red-faced.

“No matter who runs ZEEL but the company, to which I’ve and many of my friends have given their blood and sweat for the past 30 years, should be in the hands of someone under whose leadership the organisation should prosper and shareholders should be benefitted since I don’t have any profit or loss associated with this,” said Dr Subhash Chandr as he spoke on the matter.&nbsp;

"I wanted to give an interview to my friends at CNBC and Moneycontrol but they won't take it neither run it because it seems although he is a friend of mine but has a vested interest in the entire matter; I don't know whatever it is but I wish God give him good sense and wisdom," he added.

Talking about the Invesco, Dr Chandra said, "Invesco is a good investor but in this case of ZEEL they are not revealing that what they will do after taking ZEEL, and in whose hands management will go?"

"You want to remove Punit Goenka? Okay, fine but what next? Have you done any deal with someone? The 6 directors given by them - what's their background? Do they have any relation with any particular company that wants to take over? Hence, Invesco should come out transparently and openly, and let the shareholders decide - whether they want to take the deal of Invesco or want to go with Sony's deal, "Dr Chandra said posing some really tough questions to Invesco.

For the past few days, especially after the mega-merger announcement between ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI), some media houses are publishing baseless and hollow reports to fight a losing battle against ZEEL, and especially against Punit Goenka as he will continue as the Managing Director (MD) and Chief Executive Officer (CEO) of ZEEL.

For the past few days, especially after the mega-merger announcement between ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI), some media houses are publishing baseless and hollow reports to fight a losing battle against ZEEL, and especially against Punit Goenka as he will continue as the Managing Director (MD) and Chief Executive Officer (CEO) of ZEEL. × Some media reports are falsely citing Invesco's version to take on ZEEL MD & CEO Punit Goenka but in vain. These reports have failed terribly in their mala fide attempt to malign the image of esteemed organisation - ZEEL and its MD & CEO Punit Goenka. The reports lacking truth have fallen flat on the face of their publishers as Dr Subhash Chandra - Founder, Zee Entertainment Enterprises Limited, himself has come forward to clear the air on Invesco, ZEEL and Punit Goenka. The facts-laden statement by Dr Subhash Chandra - Founder, Zee Entertainment Enterprises Limited has now left no room for any confusion and will leave publishers of false and baseless reports red-faced. “No matter who runs ZEEL but the company, to which I’ve and many of my friends have given their blood and sweat for the past 30 years, should be in the hands of someone under whose leadership the organisation should prosper and shareholders should be benefitted since I don’t have any profit or loss associated with this,” said Dr Subhash Chandr as he spoke on the matter. "I wanted to give an interview to my friends at CNBC and Moneycontrol but they won't take it neither run it because it seems although he is a friend of mine but has a vested interest in the entire matter; I don't know whatever it is but I wish God give him good sense and wisdom," he added. Talking about the Invesco, Dr Chandra said, "Invesco is a good investor but in this case of ZEEL they are not revealing that what they will do after taking ZEEL, and in whose hands management will go?" "You want to remove Punit Goenka? Okay, fine but what next? Have you done any deal with someone? The 6 directors given by them - what's their background? Do they have any relation with any particular company that wants to take over? Hence, Invesco should come out transparently and openly, and let the shareholders decide - whether they want to take the deal of Invesco or want to go with Sony's deal, "Dr Chandra said posing some really tough questions to Invesco.

‘On whose directions Invesco is acting?’ Dr Subhash Chandra asks tough questions making Invesco uncomfortable

Dr Subhash Chandra said, "Invesco is a good investor but in this case of ZEEL they are not revealing that what they will do after taking ZEEL, and in whose hands management will go?" A statement by Dr Subhash Chandra, Founder, Zee Entertainment Enterprises Ltd has come out on this matter to clear the air on Invesco, ZEEL and Punit Goenka.

On whose behest is Invesco acting?: Dr Chandra questions Invesco's 'real intent' on ZEEL-Sony deal

The Indian rupee weakened to its lowest in two-and-a-half months while bond yields rose on Wednesday, as a spike in global crude oil prices re-ignited concerns over imported inflation and a drop in other Asian currencies weighed on investor sentiment.

The partially convertible rupee was trading at 74.59/60 per dollar, as of 0600 GMT, after touching 74.6450, its lowest since July 20. It had closed at 74.4450 on Tuesday.

"Overall risk tone is that of caution given several lingering risks i.e. higher energy prices, China real estate concerns, withdrawal of accommodation by central banks," Abhishek Goenka, chief executive officer at forex advisory firm IFA Global, wrote in a note.

"We are likely to see a 74.45-74.85 range in USD/INR for the day with an upside bias. Forwards continue to grind higher with 1-year forward yield now at 4.48&nbsp;per cent ."

Most Asian currencies were also trading weaker against the dollar, which rose amid heightened nerves about the global economic growth outlook and as traders awaited U.S. jobs data for clues on the timing of Federal Reserve policy tightening.

Economists said Moody's upward revision of India`s sovereign rating outlook should bode well, particularly for bonds, as it reduces the chances of the country getting downgraded to junk and will aid the government`s efforts to get India included in global bond indexes.

India's benchmark 10-year bond yield, however, was up 2 basis points at 6.28 per cent , tracking higher U.S. Treasury yields and firm oil prices.

U.S. oil prices rose for a fifth day to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas and coal markets.&nbsp;

India imports 80 per cent of its oil requirements and higher crude prices tend to push up domestic inflation.

Traders were also cautious ahead of the monetary policy committee meeting outcome on Friday, which is being closed watched for clues on when the Reserve Bank of India will start its exit from the pandemic-era stimulus.

The Indian rupee weakened to its lowest in two-and-a-half months while bond yields rose on Wednesday, as a spike in global crude oil prices re-ignited concerns over imported inflation and a drop in other Asian currencies weighed on investor sentiment.

The Indian rupee weakened to its lowest in two-and-a-half months while bond yields rose on Wednesday, as a spike in global crude oil prices re-ignited concerns over imported inflation and a drop in other Asian currencies weighed on investor sentiment. The partially convertible rupee was trading at 74.59/60 per dollar, as of 0600 GMT, after touching 74.6450, its lowest since July 20. It had closed at 74.4450 on Tuesday. "Overall risk tone is that of caution given several lingering risks i.e. higher energy prices, China real estate concerns, withdrawal of accommodation by central banks," Abhishek Goenka, chief executive officer at forex advisory firm IFA Global, wrote in a note. "We are likely to see a 74.45-74.85 range in USD/INR for the day with an upside bias. Forwards continue to grind higher with 1-year forward yield now at 4.48 per cent ." Most Asian currencies were also trading weaker against the dollar, which rose amid heightened nerves about the global economic growth outlook and as traders awaited U.S. jobs data for clues on the timing of Federal Reserve policy tightening. Economists said Moody's upward revision of India`s sovereign rating outlook should bode well, particularly for bonds, as it reduces the chances of the country getting downgraded to junk and will aid the government`s efforts to get India included in global bond indexes. India's benchmark 10-year bond yield, however, was up 2 basis points at 6.28 per cent , tracking higher U.S. Treasury yields and firm oil prices. U.S. oil prices rose for a fifth day to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas and coal markets. India imports 80 per cent of its oil requirements and higher crude prices tend to push up domestic inflation. Traders were also cautious ahead of the monetary policy committee meeting outcome on Friday, which is being closed watched for clues on when the Reserve Bank of India will start its exit from the pandemic-era stimulus.

Indian rupee hits two-and-half month low, bond yields up as oil spikes

Mega-merger of ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI) has created a media behemoth that is sure to redefine entertainment in India. However, soon after the mega-deal,&nbsp;investment firm Invesco appears to have started acting at someone's behest. The shockwaves of the mega-merger have been felt even in China.

Some mediahouses are also publishing baseless and hollow reports to make a vain attempt at battling ZEEL and its Chief Executive Officer Punit Goenka.&nbsp;

Invesco's moves in past few days have raised questions about whether it is a puppet of China acting against ZEEL-Sony mega-merger.

Some media reports are falsely citing Invesco's version to take on ZEEL MD &amp; CEO Punit Goenka but in vain. These reports have failed terribly in their mala fide attempt to malign the image of esteemed organisation - ZEEL and its MD &amp; CEO Punit Goenka.&nbsp;

On Tuesday, the reports lacking truth have fallen flat on the face of their publishers as Dr Subhash Chandra - Founder, Zee Entertainment Enterprises Limited, himself came forward to clear the air on Invesco, ZEEL and Punit Goenka. The facts-laden statement by Dr Subhash Chandra has now left no room for any confusion and will leave publishers of false and baseless reports red-faced.

Watch | ZEEL-Sony merger: Dr Subhash Chandra questions Invesco's 'real intent'

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"No matter who runs ZEEL but the company, to which I've and many of my friends have given their blood and sweat for the past 30 years, should be in the hands of someone under whose leadership the organisation should prosper and shareholders should be benefitted since I don't have any profit or loss associated with this," said Dr Subhash Chandra.

Vested interests of someone

"I wanted to give an interview to my friends at CNBC and Moneycontrol but they won't take it neither run it because it seems although he is a friend of mine but has a vested interest in the entire matter; I don't know whatever it is but I wish God give him good sense and wisdom," Dr Chandra added.

Also Read | <a href="https://www.wionews.com/business-economy/on-whose-directions-invesco-is-acting-dr-subhash-chandra-asks-tough-questions-making-invesco-uncomfortable-418507">‘On whose directions Invesco is acting?’ Dr Subhash Chandra asks tough questions making Invesco uncomfortable</a>

Dr Subhash Chandra's questions to Invesco

"Invesco is a good investor but in this case of ZEEL they are not revealing that what they will do after taking ZEEL, and in whose hands management will go?" asked Dr Chandra.

"You want to remove Punit Goenka? Okay, fine but what next? Have you done any deal with someone? The 6 directors given by them - what's their background? Do they have any relation with any particular company that wants to take over? Hence, Invesco should come out transparently and openly, and let the shareholders decide - whether they want to take the deal of Invesco or want to go with Sony's deal," Dr Chandra said posing some really tough questions to Invesco.

Questions to regulators

On regulators, Dr Chandra said, "The first and prime responsibility of the regulators is to protect the interest minority shareholders. So, they should ask Invesco that it should come out transparently. And, regulators should make sure that minority shareholders have both the things in hand to decide whether to vote for Invesco or Sony's deal with ZEEL."

Mega-merger of ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI) has created a media behemoth that is sure to redefine entertainment in India.

Mega-merger of ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI) has created a media behemoth that is sure to redefine entertainment in India. However, soon after the mega-deal, investment firm Invesco appears to have started acting at someone's behest. The shockwaves of the mega-merger have been felt even in China. Some mediahouses are also publishing baseless and hollow reports to make a vain attempt at battling ZEEL and its Chief Executive Officer Punit Goenka. Invesco's moves in past few days have raised questions about whether it is a puppet of China acting against ZEEL-Sony mega-merger. Some media reports are falsely citing Invesco's version to take on ZEEL MD & CEO Punit Goenka but in vain. These reports have failed terribly in their mala fide attempt to malign the image of esteemed organisation - ZEEL and its MD & CEO Punit Goenka. On Tuesday, the reports lacking truth have fallen flat on the face of their publishers as Dr Subhash Chandra - Founder, Zee Entertainment Enterprises Limited, himself came forward to clear the air on Invesco, ZEEL and Punit Goenka. The facts-laden statement by Dr Subhash Chandra has now left no room for any confusion and will leave publishers of false and baseless reports red-faced. Watch | ZEEL-Sony merger: Dr Subhash Chandra questions Invesco's 'real intent' × "No matter who runs ZEEL but the company, to which I've and many of my friends have given their blood and sweat for the past 30 years, should be in the hands of someone under whose leadership the organisation should prosper and shareholders should be benefitted since I don't have any profit or loss associated with this," said Dr Subhash Chandra. Vested interests of someone "I wanted to give an interview to my friends at CNBC and Moneycontrol but they won't take it neither run it because it seems although he is a friend of mine but has a vested interest in the entire matter; I don't know whatever it is but I wish God give him good sense and wisdom," Dr Chandra added. Also Read | ‘On whose directions Invesco is acting?’ Dr Subhash Chandra asks tough questions making Invesco uncomfortable Dr Subhash Chandra's questions to Invesco "Invesco is a good investor but in this case of ZEEL they are not revealing that what they will do after taking ZEEL, and in whose hands management will go?" asked Dr Chandra. "You want to remove Punit Goenka? Okay, fine but what next? Have you done any deal with someone? The 6 directors given by them - what's their background? Do they have any relation with any particular company that wants to take over? Hence, Invesco should come out transparently and openly, and let the shareholders decide - whether they want to take the deal of Invesco or want to go with Sony's deal," Dr Chandra said posing some really tough questions to Invesco. Questions to regulators On regulators, Dr Chandra said, "The first and prime responsibility of the regulators is to protect the interest minority shareholders. So, they should ask Invesco that it should come out transparently. And, regulators should make sure that minority shareholders have both the things in hand to decide whether to vote for Invesco or Sony's deal with ZEEL."

ZEEL-Sony mega-merger: Is Invesco a puppet of Chinese interests?

A jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there, his lawyer, Lawrence Organ, said late Monday.

"It’s a great thing when one of the richest corporations in America has to have a reckoning of the abhorrent conditions at its factory for Black people," Organ, of the California Civil Rights Law Group, said in an interview.

The decision by the jury, in federal court in San Francisco, was reported earlier by Bloomberg News. Tesla’s lawyers did not immediately provide comment.

In an interview, Diaz said he was relieved by the jury’s decision.

"It took four long years to get to this point," he said Monday evening. "It’s like a big weight has been pulled off my shoulders."

Diaz said he worked as an elevator operator at Tesla’s factory in Fremont, California, for about a year in 2015 and 2016. There, he said, a supervisor and other colleagues repeatedly referred to him using racial slurs. He also said employees had drawn swastikas and scratched a racial epithet in a bathroom stall and left drawings of derogatory caricatures of Black children around the factory. Despite repeated complaints, the company did little to address the behavior, he said.

"It’s not like they were removing the offensive behavior, they would just let people keep adding and adding," he said.

After deliberating for about four hours, the jury agreed with Diaz’s assertion that Tesla had created a hostile work environment by failing to address the racism he faced, Organ said. The vast majority of the award — $130 million — was punitive damages for the company. The rest was for emotional distress Diaz suffered, Organ said.

Despite the abuse he himself faced, Diaz said, he reached a breaking point when he witnessed similar racist epithets directed at his son, Demetric, who secured a job — his first — at the company with Diaz’s help.

"My son watched his father being broken in front of him," Owen Diaz said.

In an internal email to Tesla staff obtained by Organ and shared with the Times, Valerie Capers Workman, a human resources executive, downplayed the allegations in the lawsuit.

"In addition to Mr. Diaz, three other witnesses (all non-Tesla contract employees) testified at trial that they regularly heard racial slurs (including the N-word) on the Fremont factory floor," she wrote. "While they all agreed that the use of the N-word was not appropriate in the workplace, they also agreed that most of the time they thought the language was used in a ‘friendly’ manner and usually by African-American colleagues."

The company, she wrote in the email, was responsive to Diaz’s complaints, firing two contractors and suspending another. Tesla does not believe the facts justify the verdict, she wrote, but acknowledges that the company was "not perfect" in 2015 and 2016. "We’re still not perfect," she added. "But we have come a long way."

Owen Diaz said in the suit that he was left feeling "demeaned, disrespected and devalued." He sued Tesla alongside his son and another Black former employee, but only the elder Diaz’s claims made it to trial.

It was not immediately clear whether Tesla planned to appeal the decision.

A jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there, his lawyer, Lawrence Organ, said late Monday.

A jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there, his lawyer, Lawrence Organ, said late Monday. "It’s a great thing when one of the richest corporations in America has to have a reckoning of the abhorrent conditions at its factory for Black people," Organ, of the California Civil Rights Law Group, said in an interview. The decision by the jury, in federal court in San Francisco, was reported earlier by Bloomberg News. Tesla’s lawyers did not immediately provide comment. In an interview, Diaz said he was relieved by the jury’s decision. "It took four long years to get to this point," he said Monday evening. "It’s like a big weight has been pulled off my shoulders." Diaz said he worked as an elevator operator at Tesla’s factory in Fremont, California, for about a year in 2015 and 2016. There, he said, a supervisor and other colleagues repeatedly referred to him using racial slurs. He also said employees had drawn swastikas and scratched a racial epithet in a bathroom stall and left drawings of derogatory caricatures of Black children around the factory. Despite repeated complaints, the company did little to address the behavior, he said. "It’s not like they were removing the offensive behavior, they would just let people keep adding and adding," he said. After deliberating for about four hours, the jury agreed with Diaz’s assertion that Tesla had created a hostile work environment by failing to address the racism he faced, Organ said. The vast majority of the award — $130 million — was punitive damages for the company. The rest was for emotional distress Diaz suffered, Organ said. Despite the abuse he himself faced, Diaz said, he reached a breaking point when he witnessed similar racist epithets directed at his son, Demetric, who secured a job — his first — at the company with Diaz’s help. "My son watched his father being broken in front of him," Owen Diaz said. In an internal email to Tesla staff obtained by Organ and shared with the Times, Valerie Capers Workman, a human resources executive, downplayed the allegations in the lawsuit. "In addition to Mr. Diaz, three other witnesses (all non-Tesla contract employees) testified at trial that they regularly heard racial slurs (including the N-word) on the Fremont factory floor," she wrote. "While they all agreed that the use of the N-word was not appropriate in the workplace, they also agreed that most of the time they thought the language was used in a ‘friendly’ manner and usually by African-American colleagues." The company, she wrote in the email, was responsive to Diaz’s complaints, firing two contractors and suspending another. Tesla does not believe the facts justify the verdict, she wrote, but acknowledges that the company was "not perfect" in 2015 and 2016. "We’re still not perfect," she added. "But we have come a long way." Owen Diaz said in the suit that he was left feeling "demeaned, disrespected and devalued." He sued Tesla alongside his son and another Black former employee, but only the elder Diaz’s claims made it to trial. It was not immediately clear whether Tesla planned to appeal the decision.

Jury orders Tesla to pay $137 million over racist treatment

Another Chinese homebuilder has hit financial trouble after it missed payments on debt obligations, adding to worries over the country's property sector as embattled giant China Evergrande teeters on the brink of collapse.

Fears of contagion through the Chinese economy have grown as Evergrande, the most indebted of the country's private homebuilders, struggles with more than $300 billion in liabilities and heads towards a massive restructuring.

Fantasia Holdings failed to repay a $205.7 million note Monday, the Shenzhen-based company said in a statement.

This came as property management firm Country Garden Services Holdings added that a unit of Fantasia had missed repayment on a 700 million yuan ($108 million) loan, saying it was likely Fantasia would default.

The news comes as investors await news from Evergrande after it suspended trading of its shares Monday pending an announcement on a "major transaction", with reports saying Hong Kong real estate firm Hopson Development Holdings planned to buy a 51 percent stake in its property services arm.

While Fantasia is a smaller player in the market than Evergrande, its struggles highlight investor concerns over companies' financial disclosures.

Fitch Ratings downgraded Fantasia to "CCC-" on Monday, a move that points to default as a possibility.

The ratings agency added in a statement that although media reports said Fantasia missed an earlier payment to bondholders, the bond "does not appear to have been disclosed in the company's financial reports".

"We believe the existence of these bonds means that the company's liquidity situation could be tighter than we previously expected.

"Furthermore, this incident casts doubt on the transparency of the company's financial disclosures," Fitch added.

Separately, S&amp;P Global Ratings has downgraded another Chinese property firm -- Sinic Holdings -- saying its "debt-servicing ability has almost been depleted".

Sinic has been unable to service interest repayments, which could result in "accelerating repayments on Sinic's other debt obligations", S&amp;P said on Monday.

Fitch downgraded Sinic from "CCC" to "C" on Tuesday, reflecting its view that "a default-like process has begun" for the company.

The boss of Shanghai-based Sinic hit the headlines last month when he lost more than a billion dollars in a market meltdown linked to fears about Evergrande.

Zhang Yuanlin saw his net worth drop from $1.3 billion to $250.7 million on September 20, according to Forbes, when his firm was forced to halt trading in Hong Kong following an 87 percent slump in its share price.

China's real-estate sector has been under tightened scrutiny in recent months, with regulators announcing caps for three different debt ratios in a scheme dubbed "three red lines" last year.

Beijing has stayed silent on the travails of Evergrande, but state media has trailed various responses in a nod to the mood towards a private company that grew on a debt binge in the boom years of Chinese real estate.

Another Chinese homebuilder has hit financial trouble after it missed payments on debt obligations, adding to worries over the country's property sector as embattled giant China Evergrande teeters on the brink of collapse.

Another Chinese homebuilder has hit financial trouble after it missed payments on debt obligations, adding to worries over the country's property sector as embattled giant China Evergrande teeters on the brink of collapse. Fears of contagion through the Chinese economy have grown as Evergrande, the most indebted of the country's private homebuilders, struggles with more than $300 billion in liabilities and heads towards a massive restructuring. Fantasia Holdings failed to repay a $205.7 million note Monday, the Shenzhen-based company said in a statement. This came as property management firm Country Garden Services Holdings added that a unit of Fantasia had missed repayment on a 700 million yuan ($108 million) loan, saying it was likely Fantasia would default. The news comes as investors await news from Evergrande after it suspended trading of its shares Monday pending an announcement on a "major transaction", with reports saying Hong Kong real estate firm Hopson Development Holdings planned to buy a 51 percent stake in its property services arm. While Fantasia is a smaller player in the market than Evergrande, its struggles highlight investor concerns over companies' financial disclosures. Fitch Ratings downgraded Fantasia to "CCC-" on Monday, a move that points to default as a possibility. The ratings agency added in a statement that although media reports said Fantasia missed an earlier payment to bondholders, the bond "does not appear to have been disclosed in the company's financial reports". "We believe the existence of these bonds means that the company's liquidity situation could be tighter than we previously expected. "Furthermore, this incident casts doubt on the transparency of the company's financial disclosures," Fitch added. Separately, S&P Global Ratings has downgraded another Chinese property firm -- Sinic Holdings -- saying its "debt-servicing ability has almost been depleted". Sinic has been unable to service interest repayments, which could result in "accelerating repayments on Sinic's other debt obligations", S&P said on Monday. Fitch downgraded Sinic from "CCC" to "C" on Tuesday, reflecting its view that "a default-like process has begun" for the company. The boss of Shanghai-based Sinic hit the headlines last month when he lost more than a billion dollars in a market meltdown linked to fears about Evergrande. Zhang Yuanlin saw his net worth drop from $1.3 billion to $250.7 million on September 20, according to Forbes, when his firm was forced to halt trading in Hong Kong following an 87 percent slump in its share price. China's real-estate sector has been under tightened scrutiny in recent months, with regulators announcing caps for three different debt ratios in a scheme dubbed "three red lines" last year. Beijing has stayed silent on the travails of Evergrande, but state media has trailed various responses in a nod to the mood towards a private company that grew on a debt binge in the boom years of Chinese real estate.

Chinese developer Fantasia fails to make debt payments

ZEEL-Sony merger: Dr Subhash Chandra questions Invesco's 'real intent'

Trading in shares of debt-laden China Evergrande was suspended on Monday after it missed a key bond interest payment last week, its second offshore debt obligation in a week, with market watchers jittery as the group’s troubles unravel. Watch this report for more details.

Shares of China Evergrande and property services unit suspended: HKEX

Air carriers'&nbsp;association IATA said on Monday that the global net aviation industry losses are expected to come in at $11.6 billion in 2022, down from $51.8 billion on a year-on-year basis.

"The magnitude of the COVID-19 crisis for airlines is enormous. Over the 2020-2022 period, total losses could top $200 billion. To survive, the airlines have dramatically cut costs and adapted their business to whatever opportunities are available, " said IATA`s Director General, Willie Walsh.

"That will see the $137.7 billion loss of 2020 reduce to $52 billion this year. And by 2022, that figure will have dropped to $12 billion.We are well past the deepest point of the crisis. While serious issues remain, the path to recovery is coming into view. Aviation is demonstrating its resilience yet again," Walsh added.

According to IATA, domestic travel demand will near pre-crisis levels in 2022.

However, the association pointed out that challenge remains in international markets, which are still severely depressed as government-imposed restrictions continue.

"People have not lost their desire to travel as we see in solid domestic market resilience. But they are being held back from international travel by restrictions, uncertainty and complexity. More governments are seeing vaccinations as a way out of this crisis.

"We fully agree that vaccinated people should not have their freedom of movement limited in any way. In fact, the freedom to travel is a good incentive for more people to be vaccinated. Governments must work together and do everything in their power to ensure that vaccines are available to anybody who wants them," Walsh added.&nbsp;

Air carriers' association IATA said on Monday that the global net aviation industry losses are expected to come in at $11.6 billion in 2022, down from $51.8 billion on a year-on-year basis.

Air carriers' association IATA said on Monday that the global net aviation industry losses are expected to come in at $11.6 billion in 2022, down from $51.8 billion on a year-on-year basis. "The magnitude of the COVID-19 crisis for airlines is enormous. Over the 2020-2022 period, total losses could top $200 billion. To survive, the airlines have dramatically cut costs and adapted their business to whatever opportunities are available, " said IATA`s Director General, Willie Walsh. "That will see the $137.7 billion loss of 2020 reduce to $52 billion this year. And by 2022, that figure will have dropped to $12 billion.We are well past the deepest point of the crisis. While serious issues remain, the path to recovery is coming into view. Aviation is demonstrating its resilience yet again," Walsh added. According to IATA, domestic travel demand will near pre-crisis levels in 2022. However, the association pointed out that challenge remains in international markets, which are still severely depressed as government-imposed restrictions continue. "People have not lost their desire to travel as we see in solid domestic market resilience. But they are being held back from international travel by restrictions, uncertainty and complexity. More governments are seeing vaccinations as a way out of this crisis. "We fully agree that vaccinated people should not have their freedom of movement limited in any way. In fact, the freedom to travel is a good incentive for more people to be vaccinated. Governments must work together and do everything in their power to ensure that vaccines are available to anybody who wants them," Walsh added.

Global airlines' net losses expected at $11.6 bn in 2022: IATA

In what can be another blow to reputation of China's debt-laden Evergrande, Hong Kong stock exchange said that it had suspended trading in its shares. The action has come days after some bondholders said the property developed had missed the second payment of interest on bonds. The Evergrande crisis is at the center of jitters in China's financial system.

Hong Kong stock exchange did not say why stock trading had been halted. It was unclear who had initiated the suspension.

Evergrande's liabilities make it the most indebted property firm in the world. The debts stretch into hundreds of billions of dollars. This makes it equal to 2 per cent of Chinese GDP. &nbsp;Initial worries have eased somewhat after China's central bank vowed to protect homebuyers' interests.

Shares in Evergrande have plunged 80% so far this year, while its property services unit has dropped 43% as the group scrambles to raise funds to pay its many lenders and suppliers.

In what can be another blow to reputation of China's debt-laden Evergrande, Hong Kong stock exchange said that it had suspended trading in its shares. The action has come days after some bondholders said the property developed had missed the second payment of interest on bonds.

In what can be another blow to reputation of China's debt-laden Evergrande, Hong Kong stock exchange said that it had suspended trading in its shares. The action has come days after some bondholders said the property developed had missed the second payment of interest on bonds. The Evergrande crisis is at the center of jitters in China's financial system. Hong Kong stock exchange did not say why stock trading had been halted. It was unclear who had initiated the suspension. Evergrande's liabilities make it the most indebted property firm in the world. The debts stretch into hundreds of billions of dollars. This makes it equal to 2 per cent of Chinese GDP. Initial worries have eased somewhat after China's central bank vowed to protect homebuyers' interests. Shares in Evergrande have plunged 80% so far this year, while its property services unit has dropped 43% as the group scrambles to raise funds to pay its many lenders and suppliers.

Hong Kong Stock Exchange halts trading of Evergrande shares

Lufthansa said it has agreed to lease four new Airbus A350-900 long-haul passenger jets, taking on newer planes left without homes as airlines restructure their balance sheets amid the coronavirus crisis. Watch this report for more details.

Lufthansa adds four new Airbus A350s to its fleet

Semiconductor issue hitting Indian auto industry very hard, sales of major auto companies have declined.On this WION speaks to Ashish Gupta, Brand Director, VW Passenger Cars India Watch this report for more details.

WION speaks to Ashish Gupta, Brand Director, VW Passenger Cars India

A former Facebook whistleblower responsible for a series of bombshell leaks has revealed her identity. Watch this report for more details.

Whistleblower's new allegations against Facebook

OPEC and its allies meet on Monday to debate how much oil to release into the red hot market, where supply disruptions and recovering demand from the coronavirus pandemic have pushed oil above $80 per barrel. Watch this report for more details

Producers to debate on oil output

Eurozone inflation accelerated to 3.4 per cent year-on-year in September, reaching a 13-year high, according to an estimate published by Eurostat, the statistical office of the European Union (EU).

Eurozone accelerated to 3.4 per cent, inflation hits 13-year high

WhatsApp added the ₹ (Indian rupee) symbol to its chat composer on Thursday, making it easier for Indian users to transmit payments using the service.

It has also revealed that the composer's camera icon can now scan any QR code to facilitate payment at over 20 million businesses in India.

Payments on WhatsApp should become more inclusive and straightforward as a result of these improvements, as users may now send money using two of the most famous and identifiable symbols inside the WhatsApp conversation composition.

The rollout of the Rupee sign (₹) has commenced and will be available to users across India in the coming weeks.&nbsp;

The most recent improvements aim to make WhatsApp payments more inclusive and straightforward, allowing users to send money using two of the most well recognised symbols, all from inside the WhatsApp conversation composer.

The rollout of the Rupee sign (₹) has commenced and will be available to users across India in the coming weeks.&nbsp;

Speaking at the Global Fintech Festival, Manesh Mahatme, Director Payments, WhatsApp India, said, "We believe true inclusion is when customers don’t have to navigate their way through their phone to make a payment. An arrival point is when payments just "fit" into a customer’s intrinsic behaviour. Hundreds of millions of customers send WhatsApp messages every day. I spent many minutes on WhatsApp. Take a picture and send pictures. We want to make sending money as easy and simplified as sending a message."

"Smartphones, data, and tech advances of the previous decade are key elements that are pushing India towards a fintech revolution," Mahatme stated when asked what it takes to establish "digital payments for Bharat."

"India is only getting started on its digital payments journey," he added.

According to Mahatme, over 80% of consumer purchasing is still done in cash.&nbsp;

(With inputs from agencies)

WhatsApp added the ₹ (Indian rupee) symbol to its chat composer on Thursday, making it easier for Indian users to transmit payments using the service. It has also revealed that the composer's camera icon can now scan any QR code to facilitate payment at over 20 million businesses in India.

WhatsApp added the ₹ (Indian rupee) symbol to its chat composer on Thursday, making it easier for Indian users to transmit payments using the service. It has also revealed that the composer's camera icon can now scan any QR code to facilitate payment at over 20 million businesses in India. Payments on WhatsApp should become more inclusive and straightforward as a result of these improvements, as users may now send money using two of the most famous and identifiable symbols inside the WhatsApp conversation composition. The rollout of the Rupee sign (₹) has commenced and will be available to users across India in the coming weeks. The most recent improvements aim to make WhatsApp payments more inclusive and straightforward, allowing users to send money using two of the most well recognised symbols, all from inside the WhatsApp conversation composer. The rollout of the Rupee sign (₹) has commenced and will be available to users across India in the coming weeks. Speaking at the Global Fintech Festival, Manesh Mahatme, Director Payments, WhatsApp India, said, "We believe true inclusion is when customers don’t have to navigate their way through their phone to make a payment. An arrival point is when payments just "fit" into a customer’s intrinsic behaviour. Hundreds of millions of customers send WhatsApp messages every day. I spent many minutes on WhatsApp. Take a picture and send pictures. We want to make sending money as easy and simplified as sending a message." "Smartphones, data, and tech advances of the previous decade are key elements that are pushing India towards a fintech revolution," Mahatme stated when asked what it takes to establish "digital payments for Bharat." "India is only getting started on its digital payments journey," he added. According to Mahatme, over 80% of consumer purchasing is still done in cash. (With inputs from agencies)

WhatsApp adds Indian Rupee symbol to chat box for digital payments 

Tata Sons has emerged as winning bidder to take over state-run debt-laden Air India, Bloomberg reported on Friday. However, Secretary of Indian government's&nbsp;Department of Investment and Public Asset Management said within hours that media reports were 'incorrect'

"Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken," tweeted the secretary.

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Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken. <a href="https://t.co/PVMgJdDixS">pic.twitter.com/PVMgJdDixS</a>
— Secretary, DIPAM (@SecyDIPAM) <a href="https://twitter.com/SecyDIPAM/status/1443844070757986305?ref_src=twsrc%5Etfw">October 1, 2021</a></blockquote>
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Earlier media reports had said that a&nbsp;panel of ministers had&nbsp;accepted proposal from officials and had recommended Tata Sons ahead of SpiceJet, a budget airline operator in India.&nbsp;

Spokespersons of Air India and Tata Sons declined request from Reuters for a comment.

The debt-laden Air India has&nbsp;been kept aloft by a bailout since 2012. Indian PM Narendra Modi govt has been trying to sell its entire stake in the loss making airline.

The government loses nearly 200 million rupees every day to run the national carrier, which has accumulated losses of over 700 billion rupees ($9.53 billion), officials have said.

An effort to auction a majority stake almost three years ago drew no bids, forcing the government to ease the terms. It had also extended the deadline multiple times due to the pandemic.

(With inputs from agencies)

Tata Sons has emerged as winning bidder to take over state-run debt-laden Air India, Bloomberg reported on Friday. However, Secretary of Indian government's Department of Investment and Public Asset Management said within hours that media reports were 'incorrect' "Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect.

Tata Sons has emerged as winning bidder to take over state-run debt-laden Air India, Bloomberg reported on Friday. However, Secretary of Indian government's Department of Investment and Public Asset Management said within hours that media reports were 'incorrect' "Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken," tweeted the secretary. Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken. pic.twitter.com/PVMgJdDixS — Secretary, DIPAM (@SecyDIPAM) October 1, 2021 × Earlier media reports had said that a panel of ministers had accepted proposal from officials and had recommended Tata Sons ahead of SpiceJet, a budget airline operator in India. Spokespersons of Air India and Tata Sons declined request from Reuters for a comment. The debt-laden Air India has been kept aloft by a bailout since 2012. Indian PM Narendra Modi govt has been trying to sell its entire stake in the loss making airline. The government loses nearly 200 million rupees every day to run the national carrier, which has accumulated losses of over 700 billion rupees ($9.53 billion), officials have said. An effort to auction a majority stake almost three years ago drew no bids, forcing the government to ease the terms. It had also extended the deadline multiple times due to the pandemic. (With inputs from agencies)

Reports say Tatas won Air India race, government denies

Tech billionaire Jeff Bezos' space company Blue Origin on Thursday faced accusations of having 'toxic' work culture. The claim was made by a group of current and former Blue Origin employees. The allegations also say that sexual harassment was rampant in the company&nbsp;and there was a pattern of decision making that prioritized speedy rocket development over safety.&nbsp;

Blue Origin has firmly rejected the allegations. The allegations were outlined in a lengthy blogpost which was signed by Alexandra Abrams, the company's former head of employee communications

The post also said that it represented views of 20 other workers and ex-workers. The blogpost said that these individuals wanted to remain anonymous.

"Workforce gender gaps are common in the space industry, but at Blue Origin they also manifest in a particular brand of sexism," it said.

One senior executive was said to have reported for sexual harassment multiple times, but remained within the "loyal inner circle" of CEO Bob Smith.

Another former executive frequently referred to women co-workers as "'baby girl,' 'baby doll,' or 'sweetheart'" and inquired about their dating lives, the post added.

"It appeared to many of us that he was protected by his close personal relationship with Bezos -- it took him physically groping a female subordinate for him to finally be let go," the authors said.

They also said a former NASA astronaut and Blue Origin senior leader once instructed a group of women: "You should ask my opinion because I am a man."

Abrams and her co-authors further claimed that the company romanticized burnout, suppressed dissent, and was obsessed with competing with rivals SpaceX and Virgin Galactic in the race to launch their billionaire founders, thus compromising safety.

"In the opinion of an engineer who has signed on to this essay, 'Blue Origin has been lucky that nothing has happened so far,'" they said.

A Blue Origin spokesperson denied the allegations, saying Abrams was dismissed two years ago after warnings over issues involving US export control regulations.

"Blue Origin has no tolerance for discrimination or harassment of any kind," the spokesperson added.

(With inputs from agencies)

Tech billionaire Jeff Bezos' space company Blue Origin on Thursday faced accusations of having 'toxic' work culture. The claim was made by a group of current and former Blue Origin employees.

Tech billionaire Jeff Bezos' space company Blue Origin on Thursday faced accusations of having 'toxic' work culture. The claim was made by a group of current and former Blue Origin employees. The allegations also say that sexual harassment was rampant in the company and there was a pattern of decision making that prioritized speedy rocket development over safety. Blue Origin has firmly rejected the allegations. The allegations were outlined in a lengthy blogpost which was signed by Alexandra Abrams, the company's former head of employee communications The post also said that it represented views of 20 other workers and ex-workers. The blogpost said that these individuals wanted to remain anonymous. "Workforce gender gaps are common in the space industry, but at Blue Origin they also manifest in a particular brand of sexism," it said. One senior executive was said to have reported for sexual harassment multiple times, but remained within the "loyal inner circle" of CEO Bob Smith. Another former executive frequently referred to women co-workers as "'baby girl,' 'baby doll,' or 'sweetheart'" and inquired about their dating lives, the post added. "It appeared to many of us that he was protected by his close personal relationship with Bezos -- it took him physically groping a female subordinate for him to finally be let go," the authors said. They also said a former NASA astronaut and Blue Origin senior leader once instructed a group of women: "You should ask my opinion because I am a man." Abrams and her co-authors further claimed that the company romanticized burnout, suppressed dissent, and was obsessed with competing with rivals SpaceX and Virgin Galactic in the race to launch their billionaire founders, thus compromising safety. "In the opinion of an engineer who has signed on to this essay, 'Blue Origin has been lucky that nothing has happened so far,'" they said. A Blue Origin spokesperson denied the allegations, saying Abrams was dismissed two years ago after warnings over issues involving US export control regulations. "Blue Origin has no tolerance for discrimination or harassment of any kind," the spokesperson added. (With inputs from agencies)

Jeff Bezos' Blue Origin accused of 'toxic' work culture involving sexual harassment

At least some of China Evergrande's offshore bondholders had not received a due coupon payment by the close of Asia business on Wednesday. Watch this report for more details.

China's Evergrande crisis: Offshore bond coupon payment to be missed

Cash-strapped China Evergrande Group left its offshore bondholders guessing whether it would pay interest on a bond coupon due Wednesday despite agreeing to settle debt with a Chinese bank in a $1.5 billion stake divestment deal. Watch this report for more details.

China’s Evergrande sells $1.5 billion bank stake amid crisis

Aiming to ease public fear after panic behind the fuel crisis, British PM Boris Johnson has once again reassured the country of his administration's efforts to fix the shortage of fuel plaguing the country. He said that UK's supply chain will be fixed before Christmas. Watch this report for more details.

UK fuel crisis: Boris Johnson promises solution by Christmas

Various media reports running an article on ZEEL about NCLT order are baseless. The news falsely claiming about the NCLT order concerning Zee Entertainment Enterprises Limited (ZEEL) EGM is nothing but a hollow piece lacking any substance, truth and fact.&nbsp;

It is important to note here that NCLT has not passed any such order concerning ZEEL EGM.

Releasing an official statement on the NCLT hearing, ZEEL spokesperson said, "The Board of the Company is scheduled to meet as per the statutory time allotted, about the matter. The next hearing by NCLT is scheduled for 4th October 2021. The Company will continue to take all the actions needed in the interest of the shareholders and as per law."

Recently, ZEEL had announced its mega-merger with Sony Pictures Networks India.

The merged entity, in which SPNI's parent company Sony Pictures Entertainment would infuse USD 1.575 billion, will be a publicly listed company in India.

The Board of Directors of Zee Entertainment &nbsp;Enterprises Limited (ZEEL), had unanimously provided an in-principal approval for the merger between Sony Pictures Networks India (SPNI) &amp; ZEEL. The ZEEL-SPNI mega-merger deal has been seen as an extremely profitable pact for shareholders, stakeholders.

Not only on financial parameters, but the deal ranks very high also on the strategic value which the partner brings to the table.

ZEEL’s strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI’s success across entertainment genres (including gaming and sports) will add immense value to the merged entity and its management team, thereby increasing shareholder value multifold.

With a blend of highly accomplished professionals having rich expertise across varied sectors, it has always been kept in mind to serve the best interests of all the shareholders and the Company.&nbsp;

&nbsp;The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes.&nbsp; 
&nbsp; 
As per legal and regulatory guidelines, at &nbsp;the required stage, the proposal will be presented to the esteemed shareholders of the Company for their approval 
&nbsp; 
With this massive corporate development, the merged entity will result in accelerated growth and a significant opportunity to create tremendous value for all its stakeholders.

Various media reports running an article on ZEEL about NCLT order are baseless. The news falsely claiming about the NCLT order concerning Zee Entertainment Enterprises Limited (ZEEL) EGM is nothing but a hollow piece lacking any substance, truth and fact.

Various media reports running an article on ZEEL about NCLT order are baseless. The news falsely claiming about the NCLT order concerning Zee Entertainment Enterprises Limited (ZEEL) EGM is nothing but a hollow piece lacking any substance, truth and fact. It is important to note here that NCLT has not passed any such order concerning ZEEL EGM. Releasing an official statement on the NCLT hearing, ZEEL spokesperson said, "The Board of the Company is scheduled to meet as per the statutory time allotted, about the matter. The next hearing by NCLT is scheduled for 4th October 2021. The Company will continue to take all the actions needed in the interest of the shareholders and as per law." Recently, ZEEL had announced its mega-merger with Sony Pictures Networks India. The merged entity, in which SPNI's parent company Sony Pictures Entertainment would infuse USD 1.575 billion, will be a publicly listed company in India. The Board of Directors of Zee Entertainment Enterprises Limited (ZEEL), had unanimously provided an in-principal approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL. The ZEEL-SPNI mega-merger deal has been seen as an extremely profitable pact for shareholders, stakeholders. Not only on financial parameters, but the deal ranks very high also on the strategic value which the partner brings to the table. ZEEL’s strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI’s success across entertainment genres (including gaming and sports) will add immense value to the merged entity and its management team, thereby increasing shareholder value multifold. With a blend of highly accomplished professionals having rich expertise across varied sectors, it has always been kept in mind to serve the best interests of all the shareholders and the Company. The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes. As per legal and regulatory guidelines, at the required stage, the proposal will be presented to the esteemed shareholders of the Company for their approval With this massive corporate development, the merged entity will result in accelerated growth and a significant opportunity to create tremendous value for all its stakeholders.

Media propagates baseless report on ZEEL about NCLT order; here's the official statement