NEW DELHI: Private lender YES Bank is likely to reject $1.2 billion offer from Canada’s Erwin Singh Braich and Hong Kong-based SPGP Holdings, Bloomberg reported on Monday. The offer from Braich and SPGP made up 60 per cent of the planned capital raising, according to the report. YES Bank is in talks with institutions to make up the shortfall. YES Bank in November said eight investors led by Braich had evinced interest to pump $2 billion into the lender. The board of directors of the bank will reconvene on December 10 to finalise and approve details of capital infusion, which will take place through preferential allotment, it informed the exchanges. Shares of the lender were trading 1.79 per cent down at Rs 55 after the report, while the benchmark BSE Sensex was almost flat at 40,445. … [Read more...] about YES Bank likely to reject $1.2 billion offer from Canada’s Braich: Bloomberg
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Several new short-term insurance plans are hitting the market in Louisiana, two months after the Trump administration issued a rule expanding access to the limited-coverage products.The short-term plans don't have to meet 10 essential health benefits mandated under the Affordable Care Act, former President Barack Obama's signature health law. Those benefits include ambulatory services, hospitalization, emergency services and prescription drugs, among others. The short-term plans also aren't required to cover pre-existing conditions, as the health care law mandates for other types of insurance.Critics say customers could wind up with insurance that doesn't cover what they think it does, while proponents say the plans provide a lower-cost option for people who don't have employer health insurance and make too much money to get federally subsidized coverage.Five new insurers offered products this year for 2019 coverage, and five more amended plans to meet the new rules, according to the … [Read more...] about New short-term health products hit market in Louisiana after new Trump admin rule
Systematic investment plans, better known as SIPs, are in the news again. This time for showing a rise in their collections in the first quarter of FY19 despite volatile markets.According to the Association of Mutual Funds in India, in April-June of FY19, the 43-player industry collected a total of Rs 21,548 crore through SIPs, 58 percent higher than the Rs 13,597 crore collected in the same period last year.AMFI data also shows that the MF industry added 9.83 lakh SIP accounts on an average during the first quarter of FY19, with an average size of around Rs 3,300 per SIP account as compared with Rs 3,250 last year.Close At present, domestic mutual funds have about 2.29 crore active SIP accounts, through which investors regularly invest in Indian MF schemes.Himadri BuchAssistant Editor|Moneycontrol.com AMFI monthly report: Outflows from credit risk funds rise, inflows into equity funds plummet 85%UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension … [Read more...] about What is driving SIP inflows even when equity markets are volatile?
Just Eat shares are surging on talk of a bidding war after it confirmed the outline of a £8.2bn merger with Dutch-based rival Takeaway.com.The food delivery firms revealed talks over a deal on Saturday, shortly after a report by Sky News that a tie-up was imminent as consolidation aimed at building market share grips the sector.The all-share terms of the deal would see Just Eat investors receive 0.09744 Takeaway shares for each share, implying a value of 731 pence per Just Eat share.That represents a 15% premium to their closing price on Friday.Just Eat shares were trading 30% higher at 825p in the wake of the announcement, with traders citing speculation of a possible counter offer. Advertisement They settled to close 24% up on the day at 788p.Under the Takeaway agreement, Just Eat investors would own about 52.2% of the combined group, which is to be based in the Netherlands but retain a premium listing in London. More from Business Just Eat takeover battle hots up … [Read more...] about Just Eat investors cheer £8.2bn Takeaway.com merger offer
A lot has changed in the Central Business District since Marcel Wisznia purchased a blighted Carondelet Street parking garage for $4.9 million in 2007.But one thing has remained constant: Wisznia's plan to redevelop the 1950s-era former Buick dealership into a high-end apartment building, complete with a car elevator to let residents pull right up to their door."You can keep your groceries or whatever in your car until you virtually get to the front door," he said. "We've always called it the suburban lifestyle in an urban environment, and I think that's what's going to help distinguish it."Now, more than a decade later, Wisznia is close to realizing his plans. The $49 million project, called the Garage, is under construction and is expected to be finished next year.It's one of several developments underway in the CBD and Warehouse District aiming to mix high-end apartments or condominium units with expansive ground-floor retail space.Several of them have been on the table for years … [Read more...] about With features like car elevator, high-end housing in New Orleans CBD transforming market