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The proposed $40bn merger between India’s biggest private sector bank and mortgage provider has been driven by tighter regulation of the country’s shadow banking sector, according to the executive spearheading the deal. The merger of HDFC Bank and Housing Development Financing Corporation (HDFC) would be the largest in the country’s history and create a financial
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In February, Xiaomi founder and chief executive Lei Jun threw down the gauntlet to Apple and Samsung, vowing to make his company China’s top-selling premium brand in three years. “[It’s] a war of life and death,” Lei said in a post on Chinese social media site Weibo. Xiaomi, the world’s second-largest smartphone vendor, is a
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There appears to be a prevailing belief that during lockdown Boris Johnson morphed into a 21st century Marie Antoinette, scoffing cake and guzzling wine, while saying, “Let them go to parties” — only to be reminded that his own rules prohibited them from doing so (FT View, April 13). Many commentators have written that he
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Petrochemicals group Ineos has warned that British manufacturing is coming under threat from competing regions such as the US because of its higher energy costs. Britain’s largest privately owned company said European chemical producers were suffering from gas prices that had hit seven times the levels paid by competitors in the US, where abundant shale
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Shares in start-ups are sinking in private trading as a sell-off in public technology companies and a pause in new listings send shockwaves through Silicon Valley. Forge Global, one of the largest venues for trading in private start-ups, said the prices of companies on its platform had fallen 19.9 per cent in February and March
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Israeli prime minister Naftali Bennett’s 10-month-old coalition government is facing its stiffest challenge to date under the combined pressures of a wave of attacks and the shock loss of its parliamentary majority. Fourteen people have been killed in a spate of Palestinian attacks inside Israeli cities, the most recent in Tel Aviv on April 7,
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The cocktail trolley is back in vogue. Dolce & Gabbana has included one as part of its first homewares line. Meanwhile at the luxury design ecommerce site 1stdibs, sales are up 30 per cent. “People are trying to recreate that experience of happy hour at home,” says 1stdibs editorial director Anthony Barzilay Freund. “And who doesn’t
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