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Thomas Cook buyers pledge to save 555 shops and 2,500 jobs

Thomas Cook buyers pledge to save 555 shops and 2,500 jobs

Business
All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.The independent travel agent said the move gives it shops in areas where it had little or no presence, including Scotland and Wales.John Hays, who set up the Sunderland-based firm 40 years ago, said he hoped the shops would reopen within days.It had been an emotional day, he said, with many staff crying when they were told their jobs were saved.He said it was difficult to give cast-iron guarantees about every Thomas Cook shop, because there would now be talks with individual landlords. However, "it is certainly our intention to take on all the staff; to welcome them back," he added. The shops will be branded under the Hays n...
Taking measures to protect home buyers, Centre tells SC

Taking measures to protect home buyers, Centre tells SC

Finance
New Delhi: Prodded by the Supreme Court to frame policy to protect the interests of homebuyers, the Centre on Thursday told the court it is taking steps to rescue real estate companies facing insolvency proceedings and holding consultations with various ministries to chalk out a plan. Appearing before a bench of Justices A M Khaneilkar and Dinesh Maheshwari, additional solicitor general Madhavi Divan informed that the government has introduced a bill in Parliament to amend Insolvency and Bankruptcy Code to smoothen the insolvency proceedings and the finance ministry will also be holding a meeting on Monday to take a decision on giving tax concessions to beleaguered real estate firms to lessen their liability. The Centre’s proposal intends to attract other companies to make a bid to take ov
HDFC disburses Rs 1,100 crore subsidy to 51,000 home buyers under PMAY

HDFC disburses Rs 1,100 crore subsidy to 51,000 home buyers under PMAY

Finance
NEW DELHI: Housing finance firm HDFC said Sunday it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojana (PMAY). HDFC has provided loans of over Rs 9,800 crore under PMAY-Credit Linked Subsidy Scheme (CLSS), to these customers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) category, the housing finance firm said in a statement. It further said HDFC during the quarter ended September 30, 2018 approved 37 per cent of home loans in volume terms and 18 per cent in value terms to customers from the EWS and LIG segment. The company on an average has been approving 8,300 loans on a monthly basis to the EWS and LIG segment, with monthly such average approvals at app...

JP Morgan gets attention from call buyers

Finance
[unable to retrieve full-text content]Traders are making a bet Friday on JP Morgan JPM So far 5 577 contracts of the July 114 call have changed hands against open interest of 119 contracts Today s volume moved high in the bid ask spread indicating these new calls were initiated from the buy side InvestorsKeyhole Trade Latest Articles in
Budget 2018 may roll out tax sops for home buyers

Budget 2018 may roll out tax sops for home buyers

Finance
The government may use Budget 2018 to make owning a house slightly more affordable and even rekindle the interest of home buyers. These measures could be in the form of tax sops for home owners and those looking to buy property. Tax benefits help in bringing down the effective interest burden in properties that are financed through a home loan. Here are few things that Budget 2018 could do to help taxpayers own a home and save tax simultaneously. Principal repayment enhancement In Budget 2018, the tax benefit on the principal amount repaid on a home loan for a self-occupied property may get an additional benefit of Rs 50,000 or more within the section 80C limit. While existing home loan takers can use the prepayment feature to benefit from it, new borrowers get an add...